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Tag: brisbane

  • Visy Produces First Glass Bottles at Yatala Recycling Plant

    Visy Produces First Glass Bottles at Yatala Recycling Plant

    Packaging company Visy has produced the first glass bottles at its new glass recycling and manufacturing facility in Yatala, Queensland, four years after construction began.

    Once fully operational, the plant will manufacture up to 1 billion glass bottles and jars annually, incorporating an average of 70 per cent recycled content.

    Visy CEO Mark De Wit noted the milestone following the start of commissioning of the site’s first of two oxygen-fuelled furnaces, which are designed to consume less energy than traditional facilities.

    Cutting Energy on the Furnace Line

    Engineers at the south Brisbane site started operations using the first of two oxygen-fuelled furnaces. Visy intends to bring the second furnace online as commissioning advances across the site.

    Conventional furnaces burn fuel using ambient air, which introduces unwanted atmospheric nitrogen into the heating chamber. Visy instead feeds concentrated oxygen into the combustion zone to trim nitrogen volumes and raise thermal efficiency.

    Incoming cullet undergoes pre-heating before entering the main melt zone. Lifting recycled glass temperatures ahead of melting cuts the thermal lift required from the burners, driving lower fuel use per tonne of finished glass.

    Clustering Supply Beside Big Brewers

    Putting glass production directly into Yatala links sorting, melting, forming, and packing inside an existing manufacturing cluster. The new site stands next to Visy’s established cardboard box factory and beverage can plant.

    Logistics dictate glass economics. The Yatala ovens sit roughly two kilometres from Asahi Beverages’ Yatala brewery and about 30 minutes by road from Lion’s XXXX brewery in Milton, removing cross-state container freight from local supply chains.

    The capital expenditure relies on long-term supply agreements. Asahi Beverages holds a foundational partnership on the site, alongside contracted volume commitments with Lion, Bundaberg, and Coca-Cola.

    Local Cullet and Container Scheme Feedstock

    Recycled container supply underpins the commercial rationale. The facility is engineered to process up to 200,000 tonnes of recovered Queensland glass each year, drawing heavily from regional container deposit collection points.

    For beverage manufacturers across Asia-Pacific, packaging remains a severe emissions liability. Securing commercial volumes with 70 percent recycled cullet gives regional bottlers an immediate mechanism to strip scope 3 emissions without changing primary bottle designs.

    The operational risk now centres on cullet purity and feedstock continuity. Contaminated recovered glass creates production defects and furnace downtime, forcing Visy to maintain tight control over sorting operations as intake scales toward the 200,000-tonne ceiling.

    Four Years of Build Lead to Commercial Output

    Construction crews broke ground on the Yatala development nearly four years ago, supporting roughly 600 construction roles during the installation of the heavy furnaces and forming machinery.

    The manufacturing complex will sustain approximately 200 permanent operational jobs once both production lines run at capacity, according to company projections.

    Visy now faces the commissioning of the second oxygen-fuelled furnace, which will lift production to the full 1-billion-unit target.

  • Black Milk Enters Voluntary Administration After 17 Years

    Black Milk Enters Voluntary Administration After 17 Years

    Brisbane-founded fashion brand Black Milk has entered voluntary administration 17 years after its launch, appointing Apex Advisory to oversee operations and explore a potential sale.

    Co-founder Linda Lillis confirmed that trading remains uninterrupted and all staff stay in place while administrators review the business.

    Established in 2009 by Linda Lillis and the late James Lillis, the online-first label grew around a devoted fanbase known as ‘Sharkies’ before mounting costs forced a restructuring.

    “Voluntary administration gives the business an opportunity to explore what comes next,” she added. “We don’t yet know what the outcome of that process will be, and I don’t want to make promises about something that is now in the hands of the administrators.”

    “What I can say is that entering administration does [not necessarily mean the end of Black Milk](https://insideretail.com.au/careers/blackmilks-ceo-on-the-importance-of-being-prepared-diligent-and-measured-202512), and we very much hope it isn’t.”

    The company said it is exploring a potential sale.

    Earlier this year, Black Milk faced backlash from its community when it closed the last of its manufacturing operations in Australia, offshoring the process to China and moving on from its ‘Made in Australia’ label.

    “Over the past few years, BlackMilk has undertaken significant change to respond to a very different retail environment and build a more sustainable business,” Lillis said. “The team has worked incredibly hard and made meaningful progress, but the combination of a challenging consumer environment, rising costs and increasingly complex global trading conditions has continued to place pressure on the business.”

    Lillis asked customers to respect Black Milk employees’ privacy. “They are processing this news themselves while continuing to pack your orders, answer your emails, and look after our customers,” she added. “The people behind Black Milk care deeply about this business, and they are facing uncertainty too.”

  • Australia Post Signs 99-Year Lease to Transform Brisbane GPO

    Australia Post Signs 99-Year Lease to Transform Brisbane GPO

    Australia Post finalized a 99-year leasehold agreement in October 2026 to transform Brisbane’s heritage-listed General Post Office into a mixed-use retail and commercial precinct.

    Real estate investment management and advisory firm Mackwell secured the long-term lease for the 1872 property at 261 Queen Street, marking the first time the site has been offered to the market.

    Under the agreement, Mackwell will reconfigure the historic building into new office accommodation and retail spaces. Australia Post confirmed it will retain its full suite of postal services within the precinct without interrupting regular trading hours. CBRE Capital Markets, Offices, Queensland brokered the transaction.

    Queen Street Mall Link and Commercial Strategy

    The overhaul connects the property directly with foot traffic from the adjacent Queen Street Mall retail corridor. Australia Post Group Chief Financial Officer Craig Roberts said the deal allows the state-owned postal operator to monetize dormant floor area.

    “We know how important our services are to the community and the Post Office will continue to operate from this site, ensuring CBD workers and residents have easy and convenient access,” said Craig Roberts, Australia Post Group’s CFO.

    Mackwell Managing Director John Robson intends to pitch the heritage asset as high-end boutique commercial space. Preserving stone masonry while cutting in modern building services and vertical circulation will form the primary engineering cost.

    Capital Recycling Ahead of the 2032 Games

    State infrastructure authorities and commercial property developers are racing to modernise Brisbane’s central business district before the city hosts the 2032 Olympic Games. Private capital continues chasing inner-city parcels that carry established foot traffic rather than speculative peripheral builds. Long-dated ground leases offer public corporations upfront liquidity while retaining freehold title over crown land.

    For regional retail landlords, the entry of refurbished character space places pressure on standard institutional office towers along Queen Street. Heritage retail tenancies often command rental premiums from luxury fashion and food operators seeking distinct architecture rather than standard mall shells. Mackwell carries the leasing risk if corporate tenant demand for central Brisbane floor space softens during construction.

    Operational Counter Hours and Next Steps

    The building was purpose-built for the Australian postal network in 1872. The public entity has spent the last decade rationalising physical post shops as parcel volumes eclipse traditional letters, offloading or repurposing metropolitan real estate to fund automated parcel hubs.

    Counter operations at 261 Queen Street will maintain existing schedules during early construction work, trading Monday through Friday from 8:30am to 5:00pm and Saturday mornings until 12:30pm. Mackwell will submit formal heritage architectural filings and tenancy configurations to local planning authorities before physical building works commence on site.

  • Mirvac Sells Brisbane Office Complex to Alceon for A$124 Million

    Mirvac Sells Brisbane Office Complex to Alceon for A$124 Million

    Mirvac has agreed to sell a twin-tower office complex and adjoining public car park on the northern edge of Brisbane’s city centre to local investment manager Alceon for A$124 million ($87 million).

    Alceon announced on Wednesday that contracts have been exchanged for 410 Ann Street and the neighbouring Cathedral Square car park at a fully leased yield of 11 percent. The transaction prices the asset at about A$6,000 per square metre, falling below A$4,000 per square metre once the excess car parking is stripped out. Mirvac is exiting the property through a separately managed account.

    Yields Split Between Prime and Secondary Stock

    Marking Alceon’s 15th Brisbane office purchase, the deal expands its bet on secondary-grade buildings as city-centre vacancy dropped to 10.2 percent in July. Prime space in the city saw gross effective rents rise 11.8 percent in the third quarter from a year earlier, lifting cumulative gains since 2022 to 47 percent.

    The pricing gap between institutional prime towers and secondary stock in the city has widened sharply. Institutional buyers have paid roughly double the square-metre rate for premium assets, while secondary properties trade at heavy discounts to replacement cost. With 10-year bond rates hovering near 5.35 per cent, buyers of older stock rely on double-digit yields and hands-on leasing turnarounds to make underwriting hurdles pencil out.

    For office landlords and commercial operators, the transaction demonstrates that capital liquidity remains selective rather than frozen. Private syndicators and high-net-worth capital pools are absorbing secondary buildings that institutional funds are paring back. The core risk rests in capital expenditure demands, as incoming landlords must commit fresh funds to older floorplates to compete against premium stock offering stronger sustainability credentials.

    Car Park and Transit Connections

    The Ann Street property occupies a 4,052 square metre freehold parcel containing more than 20,000 square metres of net lettable area and 139 internal parking bays. Beside the towers, the Cathedral Square facility adds 572 vehicle bays across an 8,949 square metre site held under a leasehold tenure running until April 2108.

    Commuter access sits close to the asset, located 375 metres from Brisbane Central Station and near works on the subterranean Cross River Rail network. The complex holds a 5.5-star NABERS Energy rating and a 3.5-star NABERS Water rating under national benchmarking standards.

    “This is a well-located asset that has been under-managed for some time,” said Todd Pepper, managing director and head of Alceon’s Queensland business. “Our plan is hands-on: invest in the building, lift the tenant experience and lease it up into a market where good space is getting harder to find.”

    Planned Capital Works and Lease Expiries

    Alceon intends to refurbish the entrance lobbies, shared amenities and empty office floors to lift the asset to a contemporary B-plus grade. Existing leases run across an occupancy level of roughly 90 per cent with a four-year weighted average lease expiry, anchored by the Public Trustee of Queensland, First Parking, Mipac, Sonic Healthplus and Dye & Durham.

    The transaction follows a comparable secondary deal completed in September, when Quintessential Equity purchased 133 Mary Street from ESR Group for A$81.8 million, or roughly A$6,200 per square metre. That asset also included retail space targeted for a refurbishment program. By contrast, Barings paid A$700 million for 480 Queen Street in July at A$12,727 per square metre, while GPT Group acquired Central Plaza II at 66 Eagle Street for A$400 million in April at A$12,561 per square metre.

    Brokers Peter Chapple and Bruce Baker of CBRE handled the transaction alongside Paul Noonan and Jack Sullivan of JLL. Alceon financed the purchase via its network of wholesale and high-net-worth backers, pushing its Queensland commercial property portfolio past A$1.25 billion under management.

    Near-term performance now depends on tenant retention, with almost half the total floor space at 410 Ann Street scheduled for contract renewal across 2028 and 2029.

  • Metcash Buys Queensland IGA Operator Peries Group for up to $85 Million

    Metcash Buys Queensland IGA Operator Peries Group for up to $85 Million

    Metcash agreed to acquire Queensland grocery operator Peries Group for an estimated $80 million to $85 million.

    The deal secures 15 medium- and large-format IGA supermarkets across regional Queensland. Those stores generated approximately $264 million in retail sales in the 2026 financial year.

    Terms and structure of the transaction

    Exercising a contractual right of first refusal, Metcash stepped in after Peries Group put the business up for sale. A fixed multiple of earnings before interest, tax, depreciation and amortisation under pre-AASB16 accounting rules will determine the final price. That calculation excludes stock, employee entitlements and stamp duty.

    Existing debt facilities will fund the purchase. Marginal earnings per share accretion is expected once the transaction closes.

    Around 1,000 workers are employed across South-East, Central, Far North and Wide Bay-Burnett districts. Metcash already supplied the network. It booked approximately $150 million in wholesale sales to Peries stores during the 12 months ended 30 June 2026.

    Regional grocery consolidation

    Buying Peries prevents rival supermarket operators from peeling away a major independent wholesale customer in Queensland. Regional store networks provide steady wholesale volumes that Metcash cannot afford to lose to corporate chains.

    Direct ownership gives the wholesaler options to restructure store holdings down the track. It plans to review the long-term model for the 15 sites, including potential joint ventures or re-sales to independent grocers.

    Expanding Queensland footprint

    Equity exposure in Queensland retail operations expands alongside Metcash’s existing 45 per cent interest in Cornetts Group, which runs 35 supermarkets across the state. Queensland grocery sales have outpaced most other Australian states over the past three years at retail and wholesale levels.

    Regional independent operators frequently serve as the sole full-line grocery destination in their towns. Keeping those locations under the IGA banner protects distribution routes running from Metcash distribution centres to remote retail corridors.

    “The Peries Group is a high-quality independent business, and its acquisition is consistent with our strategy of protecting, growing and strengthening the independent IGA grocery network. We believe this transaction will enhance our Queensland presence and create additional opportunities for Metcash and the wider IGA network. The decision to exercise this First Right was taken with regard to the longer-term strength of the independent network, as well as delivering returns for shareholders.”

    Clearance timeline and financial disclosures

    Settlement is scheduled for late April or early May 2027. Completion requires lease assignments across the 15 locations and clearance from the Australian Competition and Consumer Commission.

    Briefing on the transaction is scheduled for 7 December 2026, when Metcash releases its first-half financial results.

  • Domino’s CEO Andrew Gregory Takes Control of ANZ as Merrill Pereyra Exits

    Domino’s CEO Andrew Gregory Takes Control of ANZ as Merrill Pereyra Exits

    Domino’s Pizza Enterprises Group CEO and Managing Director Andrew Gregory has taken direct control of the Australia and New Zealand business, effective immediately, to accelerate the company’s reset plan.

    The move follows a mutual agreement for ANZ CEO Merrill Pereyra to leave the business after being appointed to the role earlier this year.

    Pereyra, who holds more than 30 years of quick-service restaurant experience, led a phase focused on reducing costs, paying down debt, strengthening cash flow, and improving franchise partner returns while Domino’s searches for a successor.

    Management shift at the regional unit

    The sudden change puts group-level leadership back into direct line management over the home territory. Regional operations teams will report directly to Gregory while the board conducts an executive search.

    Pereyra previously served as chief executive of Domino’s Pizza Indonesia and held regional leadership roles at McDonald’s across a 30-year industry career. His brief tenure running the Australia and New Zealand business focused on stabilizing unit economics after successive margin squeezes.

    “The reset has established a stronger foundation for the business and remains on track,” chairman Jack Cowin said. “Australia/New Zealand is critical to the Group’s success, and the Board supports Andrew taking direct responsibility to increase the pace of execution while maintaining a clear focus on sustainable, profitable growth for franchise partners.”

    Restructuring and franchisee economics

    The company’s reset plan centers on four financial levers: cutting overhead costs, accelerating debt paydown, lifting free cash flow, and restoring store profitability. Ingredient inflation and higher labor costs strained store margins across Australia and New Zealand over recent trading periods.

    Direct corporate intervention in divisional management signals that the board wants faster cost discipline. Franchisee relations remain the primary operational risk. Store owners need immediate relief on input costs and delivery margins to protect cash returns.

    Quick service restaurant leadership

    Gregory brings extensive quick-service restaurant experience to the operational post, including a previous stint as chief executive of McDonald’s Australia. That background gives group management deep familiarity with franchised supply chains, digital ordering platforms, and local store marketing.

    Fast-food operators across the region face a more cautious consumer base cutting back on discretionary deliveries. Competitors have leaned heavily on price discounts and value bundles. This forces franchisors to balance transaction volume against franchisee gross margins.

    Search for permanent leadership

    Domino’s Pizza Enterprises confirmed the search for a dedicated regional chief executive is underway. The existing divisional leadership team will maintain daily field support and supply logistics during the transition.

    Progress under Gregory will hinge on how quickly store profitability recovers before a new regional chief executive steps in.

  • Streets Partners with Bluey to Launch Frozen Treat in Australia

    Streets Partners with Bluey to Launch Frozen Treat in Australia

    Streets, part of The Magnum Ice Cream Company, has partnered with children’s television series Bluey to launch Streets Bluey Frozen Treat across Australia in September 2026.

    The rollout follows research commissioned by Streets showing 79 per cent of parents would rather their children remember everyday moments together, while more than half enforce rules around eating ice cream.

    Mixed Berry Format Targets Supermarket Freezers

    Shoppers will find the Streets Bluey Frozen Treat in Australian grocery aisles as a single-serve item and a multi-pack mixed berry ice-block. BBC Studios manages global commercial rights for the Brisbane-created show. Over the past four years, the animation brand has expanded across multiple consumer packaged goods categories.

    For The Magnum Ice Cream Company, the range broadens its impulse and family-pack presence in Australian supermarkets and convenience stores. Licensing proven intellectual property helps frozen treat makers defend shelf space without inventing categories from scratch.

    Research Points to Spontaneous Consumption Habits

    Research firm Pureprofile surveyed 1,000 Australian parents ahead of the launch. More than half of respondents set strict rules on when children can eat ice cream. Only 37 per cent allow unsupervised treats.

    Survey findings also show 79 per cent of parents prefer everyday shared moments with their children over major holidays. Another 28 per cent report having less unplanned family time than in past years. The marketing team aims to tap this dynamic directly at store checkout displays.

    Three-City Activation Precedes Broader Distribution

    Agency 1000heads ran the initial campaign across Melbourne, Sydney and Brisbane. The push started with direct doorstep deliveries to more than 40 households across the three eastern capitals to seed social media chatter.

    Production firm Rockstar built a live activation site in Brisbane featuring Bluey and Bingo character appearances alongside a national morning television broadcast. The event aimed to drive shopper footfall to freezer aisles during early spring trade.

    Licensing Strategies Reshape impulse Buying

    Character licensing has become a key defensive tactic for ice cream makers competing with private labels. Australian supermarket chains continue to expand their store-brand dessert ranges, pushing tier-two names off prime shelf space.

    Securing major domestic properties gives manufacturers better use when negotiating promotional pricing and front-of-store freezer space with supermarket giants. Streets will monitor initial sell-through rates across east coast stores through the fourth-quarter summer peak.

  • Neosframe Launches Retail Video Platform Starting at $2,700 a Month

    Neosframe Launches Retail Video Platform Starting at $2,700 a Month

    Brisbane-based platform Neosframe launched an automated video production tool for retail marketing teams in September 2026, with plans starting at $2,700 a month.

    The self-service system uses artificial intelligence to generate campaign creative across multiple channels, helping retailers adjust promotions ahead of the critical Christmas trading period.

    How the Production Guardrails Work

    Founded by chief executive Haley McDonald and chief operating officer Katarina Diquez, the platform features built-in guardrails that keep pricing, disclaimers and brand rules protected from generative AI.

    Enterprise tiers scale to support thousands of video outputs monthly across digital advertising, social channels, email campaigns and digital in-store screens. The system combines creative variation generation and compliance approvals into one workflow, replacing the manual handoffs between external agencies and internal legal teams.

    The Operational Shift for Agency Networks

    Retail marketing departments across Asia-Pacific face mounting pressure to localize and update commercial campaigns without inflating headcount. When a price cut or regional inventory change requires adjustments across six formats, traditional agency turnaround times often wipe out the commercial window.

    By bringing routine asset versioning into automated software, retail operators cut outside production fees and shorten go-to-market cycles from days to minutes. The commercial risk shifts from creative execution errors to internal data accuracy, because automated pipelines publish pricing directly to consumer-facing channels.

    Pressure Ahead of Holiday Trading

    Fourth-quarter trading pushes margins across consumer sectors, making fast creative adaptation essential for weekly promotional turnover. Retailers that rely on static three-month campaign schedules lose sales to agile discounters who adjust localized digital inventory daily.

    Neosframe developed the platform following repeated industry friction where creative asset delivery lagged merchandising decisions during high-volume sale events.

    Deployment Timelines Across Regional Accounts

    The company is deploying its software to retail clients ahead of the November and December holiday retail peaks. Marketers are monitoring whether the automated pipeline can handle sudden inventory-driven price adjustments across thousands of store locations without compliance failures.

  • Anthropic Leases First Stage of $10.4 Billion Queensland Data Centre

    Anthropic Leases First Stage of $10.4 Billion Queensland Data Centre

    Artificial intelligence laboratory Anthropic has agreed to lease the first stage of a A$14.5 billion ($10.4 billion) data centre campus in Queensland proposed by Singapore-based Zerra DC, marking the US company’s first major commitment in Australia.

    Queensland state premier David Crisafulli announced the agreement on Wednesday in parliament, indicating that San Francisco-based Anthropic will invest in the 1.44-gigawatt Western Downs Digital Park located roughly 250 kilometres northwest of Brisbane.

    Consortium structure and power design

    Development filings detail four 360-megawatt facilities built across a 726-hectare site near Dalby over a four- to six-year delivery timetable. The campus sits within an energy corridor hosting 5.4 gigawatts of installed generation, linking directly to the Braemar transmission substation with on-site battery storage to smooth load swings.

    Ownership runs through a joint venture between Macquarie Capital and Zerra DC, the data centre vehicle of Singapore group AGP Sustainable Real Assets. Australian property giant Dexus holds exposure via its 85 per cent stake in Australian Data Centres, which owns a 25 per cent interest in the development entity.

    Anthropic will direct the Queensland compute capacity toward live inference processing for its Claude platform rather than foundation model training. The operator had previously evaluated up to 5 gigawatts of capacity across New South Wales before committing to the Queensland campus.

    Shifting regional capacity and power competition

    For cloud and enterprise operators across the Asia-Pacific region, the Dalby commitment confirms that mega-scale computing demand is migrating away from congested primary metro hubs. Real estate availability and electrical grid capacity in Sydney and Melbourne face severe constraints, pushing wholesale occupiers into regional utility corridors where transmission lines already exist.

    The scale of the project alters capital allocation for digital infrastructure investors across Australia. Total domestic data centre pipeline capacity stands at 16.2 gigawatts across projects worth A$155 billion, but physical grid connection timelines remain the decisive bottleneck for operators seeking to deliver operational halls before 2028.

    Regulatory friction across state and federal policy

    Resource competition is already forcing metropolitan authorities to slow down approvals. While Goodman Group secured clearance for a 135-megawatt asset in Sydney’s Macquarie Park, local councils halted a planned 90-megawatt build in Lane Cove West over municipal water consumption.

    Federal and state policy approaches are also diverging. Canberra outlined rules taking effect in early 2027 that require commercial operators to underwrite dedicated new clean power generation and pay network reinforcement costs. Queensland state ministers, however, have opted to process regional approvals independently to capture private capital investment without mandating exclusive new renewable builds.

    Prior commitments and next milestones

    The lease follows a preliminary memorandum of understanding signed between Anthropic and the Australian federal government in April covering safety frameworks and local technology adoption. Dexus separately initiated a formal capital raising process for its Australian Data Centres subsidiary to bring outside institutional equity into the delivery vehicle.

    Execution of the project now rests on two formal clearances: a development permit from the Western Downs Regional Council and foreign investment approval from the Foreign Investment Review Board. Long-term master plans allow the consortium to expand the campus to six buildings totaling 2.16 gigawatts, which would raise total private investment to A$31.9 billion.

  • Investa and BGO Expand Australian Office Venture to A$1.8 Billion

    Investa and BGO Expand Australian Office Venture to A$1.8 Billion

    Investa and North American investment giant BGO expanded their Australian commercial property partnership to A$1.8 billion with an agreed A$715 million portfolio purchase across Sydney and Brisbane.

    The acquisition covers 123 Albert Street in Brisbane alongside 30-34 and 36 Hickson Road in Sydney, splitting ownership equally between BGO and the Investa Commercial Property Fund at the Queensland site.

    Alongside the joint portfolio purchase, the A$6 billion Investa Commercial Property Fund agreed last month to sell 1 Market Street in Sydney for A$450 million to the Investa Core Plus Office Partnership. Chief Executive Peter Menegazzo said the sale frees capital from a 30-year-old building to manage fund gearing following recent development outlays.

    “Office is back,” Menegazzo told the Mingtiandi Australia Forum in Sydney. “We operate in a cyclical sector and industry, and we knew it would come. It was just a matter of when.”

    Capital recycling and portfolio reshuffle

    The transaction at 1 Market Street relies on rental growth across roughly 50 tenants rather than cap rate compression, offering frequent windows to reset income to current market levels. Sydney has recorded consecutive quarters of net absorption, underpinning institutional demand for well-located assets with manageable vacancy risks.

    Investa signed 133,000 square metres of leases over the past 12 months. Tenants with lease expiries falling between 2029 and 2031 are already opening renewal negotiations early to lock in prime space ahead of projected shortages.

    Development barriers squeeze prime office supply

    Elevated construction costs and tight capital markets have stalled the supply pipeline across major Australian central business districts. New developments require asking rents between 30 and 50 percent above prevailing levels, alongside lower capitalisation rates, to reach commercial viability.

    Sydney faces a four-to-five-year development cycle, prolonging the shortage of modern office space. Institutional buyers are responding by acquiring standing premium buildings at prices below replacement cost rather than taking on greenfield construction risk.

    Brisbane displaces southern office capital

    Brisbane has emerged as one of the strongest office markets globally for effective rental growth over the past 18 to 24 months. Queensland’s commercial property market is drawing allocations away from Melbourne, supported by Olympic infrastructure preparations and tight physical supply.

    Offshore institutions are widening their presence in Brisbane. Recent transactions include Japanese investment into Central Plaza I, TPG’s venture with GPT on Central Plaza II, and Barings’ A$700 million acquisition of 480 Queen Street.

    Asian institutional backing expands into living sectors

    Japanese capital has expanded beyond traditional commercial towers into Australian living sectors. Daibiru bought 135 King Street in Sydney for A$600 million from Investa’s flagship fund last year, adding an ongoing management mandate.

    Tokyo-based groups JR West Real Estate & Development, Sotetsu Real Estate and Sumitomo Mitsui Trust Bank are financing Investa’s 251-studio co-living project at 140 Elizabeth Street in Sydney. The company is now seeking A$500 million in equity to back a co-living platform with A$1 billion in initial development capacity, with negotiations underway on the capital commitment.

  • Barambah Organics Founder Ian Campbell and Daughter Die in Plane Crash

    Barambah Organics Founder Ian Campbell and Daughter Die in Plane Crash

    Barambah Organics founder Ian Campbell, 56, and his daughter Hannah, 23, died in a light plane crash south of Brisbane on Monday.

    Campbell founded the dairy business alongside his wife Jane in 2002.

    The Tamara Capital Buyout and Brand Growth

    Private equity firm Tamara Capital bought a majority stake in the business in 2020 in a deal valuing it at $50 million, while the Campbell family kept a minority stake and continued to influence operations.

    Following the buyout, the business expanded distribution across Australian retail channels to supply independent grocers, organic specialists and national supermarket shelves. It established a dedicated processing network and direct farm supply model across regional Queensland and northern New South Wales.

    Dairy Sector Pressures and Market Position

    Australian premium dairy producers face cost inflation across cold chain freight, feed and energy. Premium organic labels rely on tight supply agreements and consistent volume to protect margins against conventional private-label milk pricing.

    Customer retention was built on single-source farm provenance and organic certification standards. Preserving brand equity and operational continuity now falls to the institutional investors and executive management installed following the 2020 acquisition.

    Operational History and Next Steps

    The Campbell family ran the business as an independent operation for 18 years. Outside capital was brought in to fund factory upgrades and broader national distribution.

    Aviation safety authorities continue to examine the site south of Brisbane to determine the mechanical factors and flight conditions surrounding the crash.

  • Jonathan Waecker Completes First Year as Michael Hill CEO

    Jonathan Waecker Completes First Year as Michael Hill CEO

    Jonathan Waecker marked his first 12 months as chief executive of jeweller Michael Hill on August 27. His arrival followed an international search and a sombre period for the retailer.

    Former chief executive Daniel Bracken died unexpectedly in February 2025, followed by founder Sir Michael Hill in July.

    Leadership Transition at the Jeweller

    Waecker took charge of the retail network just weeks after Sir Michael died. The double loss forced the company to manage executive succession and institutional continuity at the same time.

    Directors turned to Waecker to execute long-term strategy while protecting brand equity across the store fleet. Maintaining operational discipline during senior turnover remains the board’s primary focus.

    “I’ve approached it with enormous respect for what Sir Michael and Lady Christine built,” Waecker said. “There’s so much magic in this brand and its history.”

    Succession After Twin Losses

    Retail chains facing sudden leadership gaps often risk strategic drift. Michael Hill countered that threat by moving rapidly through a global search to fill the vacancy left by Bracken.

    Executive stability gives regional landlords and investors clear assurance on leasing commitments and store funding. Sector rivals continue to fight for discretionary spend, leaving management little room for operational disruption.

    Stewardship Across Core Markets

    Before Waecker took charge in August 2025, the group relied on Bracken to direct brand elevation and store network refinements. Losing both the operational chief and the founder within five months tested governance across the business.

    Attention now turns to annual trading performance and network expansion targets across the brand’s core markets.

  • Haigh’s Chocolates Enters Queensland with First Brisbane Store

    Haigh’s Chocolates Enters Queensland with First Brisbane Store

    Haigh’s Chocolates has launched its first physical store in Queensland at Westfield Mt Gravatt in Brisbane. The opening establishes a direct retail footprint in the state ahead of two further Brisbane outlets scheduled for November.

    The family-owned South Australian confectioner took space on Level 2 of the shopping centre next to cosmetics retailer Mecca. The store sells the brand’s core artisan chocolate lines alongside complimentary tasting counters.

    Queensland Footprint Expands

    Online sales in Queensland prompted the physical rollout. Customer order volumes across the state showed sufficient local demand to justify bricks-and-mortar leases, according to the company.

    “Since announcing that we were coming to Brisbane, we have had so many Haigh’s fans and online customers reaching out, asking where they can visit and when we will be open,” said Haigh’s Chocolates chief executive Peter Millard.

    Two more retail sites are in the pipeline. Outlets at Westfield Chermside in Brisbane’s north and Westfield Carindale in the east will open before the end of the year.

    Supply Chain Backing

    The Queensland rollout relies on supply chain capacity completed last year. Haigh’s opened a 120 million Australian dollar production and logistics facility in Salisbury South, South Australia, designed to support national distribution and higher store volumes.

    Converting digital customer density into shopping centre tenancies mirrors how regional specialty retailers derisk capital expenditure in Australia. By validating regional demand through online fulfilment first, brands reduce opening risk in major retail malls before committing to long-term leases.

    Fit-out work is continuing at both the Chermside and Carindale locations ahead of their planned November trade debut.

  • Flight Centre Posts Record $25.7 Billion Transaction Value as Leisure Slips in Q4

    Flight Centre Posts Record $25.7 Billion Transaction Value as Leisure Slips in Q4

    Flight Centre Travel Group booked a record $25.7 billion in total transaction value for FY26, but fourth-quarter flight disruptions cut underlying pre-tax profit by 4 per cent to $278 million.

    Group revenue rose 2.5 per cent to $2.9 billion for the twelve months ended June 30. Statutory earnings before interest, tax, depreciation, and amortisation increased 8 per cent to $430.6 million, while underlying EBITDA climbed 3.9 per cent to $466 million.

    Middle East Flight Reductions Hit Leisure Bookings

    A $60 million earnings decline in the fourth quarter derailed what had been nine months of steady profit expansion. Managing director Graham Turner said the leisure business was tracking toward $200 million in pre-tax profit before conflict in the Middle East prompted airlines to trim flight schedules.

    Full-year leisure transaction value still rose 7.4 per cent to $12.6 billion, generating $1.4 billion in revenue. Early trading showed signs of recovery, with July transaction values setting a monthly record as seat capacity normalised on key routes connecting the Asia-Pacific region to Europe.

    Corporate Bookings Provide Buffer

    Corporate travel accounts insulated the broader business from sharper consumer pullbacks. Corporate transaction value rose 2.9 per cent to $12.7 billion and revenue gained 3.3 per cent to $1.2 billion, pushing the division’s underlying EBITDA up 24.4 per cent to $275 million.

    Small and medium business unit Corporate Traveller exceeded $5 billion in transaction value for the first time, while the group’s US operations turned in more than US$2 billion. Management is counting on its proprietary booking platforms and cost programmes to protect margins as capacity stabilises across the first half of FY27.

  • Domino’s Cuts Discounts to Lift FY26 EBIT to $200.1 Million as Asian Earnings Jump

    Domino’s Cuts Discounts to Lift FY26 EBIT to $200.1 Million as Asian Earnings Jump

    Domino’s Pizza Enterprises lifted full-year underlying operating profit 1 per cent to $200.1 million in FY26, curbing heavy discounting and pruning underperforming stores across Asia.

    Total network sales fell 6.8 per cent to $3.87 billion, while group same-store sales dropped 4.1 per cent as the franchisor traded transaction volume for franchisee margin relief.

    Average franchise partner profitability rose 11.3 per cent across the network, pushing free cash flow to $164.1 million. The Brisbane-headquartered company captured $35.3 million in realized savings during the fiscal year toward an annualised target of $67 million, while global corporate overhead fell 5.8 per cent through stricter discretionary spending controls.

    Asia store closures lift regional margins

    Asia delivered the sharpest regional earnings rebound. Underlying earnings before interest and taxes across the Asian business climbed 19.7 per cent despite a 6.7 per cent drop in same-store sales, helped by tighter cost controls and the closure of unprofitable locations, particularly in Japan.

    Performance across Western markets was more mixed. Underlying operating profit in Australia and New Zealand slipped 5.9 per cent alongside a 4.7 per cent drop in same-store sales as the chain reduced promotional price cuts. European earnings rose 2.6 per cent against a 2.2 per cent same-store sales decline, with steady trading in the Benelux markets outweighing sluggish demand in France and Germany.

    Pricing discipline replaces mass vouchers

    The margin turnaround reflects a broad retreat from the low-price delivery wars that eroded quick-service restaurant returns across the Asia-Pacific region over the past three years. Fast-food operators in Japan and Australasia have faced stubborn ingredient costs and high delivery wages, forcing franchise systems to protect store-level solvency rather than chasing top-line market share.

    Executive chairman Jack Cowin said the company deliberately sacrificed short-term order counts to stabilize partner balance sheets. Group chief executive Andrew Gregory will now test whether the chain can rebuild customer order frequency in FY27 through menu execution and clearer base pricing without returning to blanket discount vouchers.