Capital Edge
Business Insights | Property Spotlights From Industrial
July 22, 2026
Moorabbin Airport
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Head of Industrial & Logistics – Capital Markets, Pacific
Moorabbin Airport Acquired in Landmark $1.5 Billion Deal
Moorabbin Airport has changed hands in a landmark $1.5 billion transaction, with global alternative investment manager Barings leading a consortium of institutional investors and Australian superannuation funds in the acquisition of the Melbourne asset.
The off-market purchase of Goodman’s Moorabbin Airport Corporation (MAC) includes a 294-hectare mixed-use precinct in Melbourne's southeast, comprising aviation infrastructure alongside industrial and logistics facilities, large-format retail, office accommodation and ground lease interests.
Goodman Group who acquired the airport in 2011 and has overseen its transformation into a diversified business and employment precinct, will retain an investment interest in the asset.
Barings Real Estate Australia will manage the property going forward and oversee future development opportunities across the estate. The firm cited the asset's strategic location, diversified income streams and long-term growth potential as key drivers behind the acquisition.
Moorabbin Airport remains a critical piece of aviation infrastructure and is one of Australia's busiest general aviation airports, supporting flight training, charter services and aircraft maintenance operations. The airport operates under a 71-year leasehold granted by the Commonwealth Government and serves a broad tenant base spanning aviation, logistics, retail, manufacturing and business services.
The acquisition further strengthens investor appetite for large-scale industrial and mixed-use precincts in supply-constrained metropolitan markets, particularly those with significant landholdings and infrastructure connectivity.
Key Transaction Details
Asset: Moorabbin Airport, Melbourne, VictoriaPurchaser: Consortium led by Barings, including Aware Super and Rest Super
Vendor: Goodman Group
Transaction Value: Circa $1.5 billion
Landholding: 294 hectares
Sector: Aviation, Industrial & Logistics, Infrastructure, Retail and Commercial Property
Sonic Healthcare Limited’s world-class Pathology Centre
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Senior Managing Director, Queensland
Associated Contact
Head of Industrial & Logistics – Capital Markets, Pacific
Associated Contact
Head of Alternatives – Capital Markets, Pacific & Executive Managing Director – Client Care, Pacific
Charter Hall Expands Life Sciences Footprint with $445 Million Sonic Healthcare Deal
Located in Bowen Hills, the Sullivan Nicolaides Pathology facility is far more than a traditional laboratory. Developed by Sonic Healthcare over multiple stages, the asset serves as a national reference centre for highly specialised pathology testing and acts as the central hub for Sullivan Nicolaides Pathology’s operations across Queensland and Northern New South Wales. The facility plays a critical role in supporting healthcare outcomes for millions of Australians and is regarded as a key piece of national healthcare infrastructure.
The transaction was structured as a 20-year triple-net sale and leaseback, providing Charter Hall with a long-term income stream backed by one of Australia's leading healthcare operators. The asset will generate an initial net rent of $25 million per annum, with rental growth linked to inflation, reflecting growing investor demand for defensive assets supported by essential services and strong tenant covenants.
The acquisition also highlights the increasing convergence of healthcare real estate and institutional capital. As Australia's population grows and healthcare spending continues to rise, specialist medical and life sciences facilities have emerged as a sought-after asset class, offering both resilient income and long-term relevance.
The property will be held within a new institutional partnership managed by Charter Hall, with the Charter Hall Social Infrastructure REIT taking a 25 per cent stake alongside other Charter Hall managed funds.
Core+ Adelaide Industrial Portfolio
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Head of Industrial & Logistics – Capital Markets, Pacific
Associated Contact
National Director, Capital Markets, Industrial & Logistics, Australia
Associated Contact
Senior Director, Sales & Leasing, Industrial & Logistics, South Australia
Adelaide Industrial Portfolio Draws Private Capital as Investors Target Value-Add Opportunities
The portfolio comprised properties at 281-301 Grand Junction Road, Ottoway; 60-70 Purling Avenue, Edinburgh; and 5-7 & 8-10 CB Fisher Drive, Cavan, strategically positioned across Adelaide's tightly held northern industrial corridor. Collectively, the assets offered more than 48,000sqm of gross lettable area across a substantial 11.4-hectare landholding, with 100% occupancy at the time of marketing.
What made the offering particularly compelling was not just the scale of the land holding, but the embedded value-add potential. The portfolio featured a relatively short 3.3-year WALE, meaningful rental reversion opportunities and a portion of surplus development land, providing investors with multiple avenues to grow income over time. The marketing campaign also highlighted rental growth across Adelaide's industrial market and persistently low vacancy levels, reinforcing the city's emergence as one of Australia's most compelling logistics markets.
The anchor asset at Ottoway accounted for approximately half of the portfolio's income and was underpinned by a diverse tenant mix including Shape Australia, Orrcon Distribution and Master Butchers. Meanwhile, the Edinburgh asset offered significant future upside through surplus land capable of supporting additional industrial development, while the Cavan holdings provided strategic hardstand and transport-related facilities occupied by Gilbert's Transport Services.
The sale demonstrates the depth of private capital pursuing industrial opportunities beyond Australia's eastern seaboard capitals. As investors increasingly seek assets where future value can be created through development, leasing and active asset management, Adelaide's industrial market continues to attract attention for its affordability, infrastructure connections and strong occupational fundamentals.
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