Hannas Announces Latest $66 million Project on Sydney’s Northern Beaches

A premium $66 million industrial estate has been launched in the tightly held Brookvale market in the latest undertaking for privately owned Sydney development and civil infrastructure company Hannas.  

A total of 34 warehouse and 46 storage units have been proposed for the multi-level Rockwater Brookvale estate, situated at 101 Old Pittwater Road.  

Within a fortnight of launching to the market, $34 million in sales have occurred, with only 12 warehouses remaining, level 1 sold out and storage units also in high demand at record sales rates. 

The Northern Beaches strata development follows the success of a similar $75 million Hannas project, Arc Lane Cove. Within months of Arc Lane Cove’s 2021 launch, all the warehouses were sold off the plan and half of the storage units have also transacted – a year out from the estate being completed. 

Hannas CEO Danny Hanna noted that the group had an aggressive growth strategy and was targeting projects across greater Sydney and South-East Queensland. 

“Our strategy for Rockwater Brookvale is to provide the same premium-grade aesthetic as Arc Lane Cove, so occupiers won’t feel like they’re in a traditional industrial estate. What we learnt from Arc is that there’s significant occupier demand for a premium work experience that seamlessly integrates warehousing, modern offices and storage space across a range of sizes. Brookvale is also in dire need of new industrial stock, and we are proud to be delivering the project in such a tightly held market.” 

CBRE steered the successful Arc Lane Cove launch and is also driving the Rockwater Brookvale campaign, in tandem with local agency Shore Commercial. 

Designed by leading industrial architecture firm Rothelowman, the 6,577sqm development embraces a functional, coastal aesthetic featuring an abundance of natural light, raw concrete and lush landscaping across the only new industrial estate being developed in the area. 

CBRE’s Caris Kinsella said, “We’re seeing huge demand for premium commercial/industrial space with a high level of functionality. There is a scarcity of this type of product, and we expect to field significant occupier and investor interest given the tightly held nature of the Brookvale market.”  

The three-level complex is expected to offer 4,637sqm of industrial space, incorporating units ranging in size from 98sqm to 267sqm. The remaining 1,940sqm of space will be dedicated to storage in units sized from 26sqm to 106sqm. 

Development approval is anticipated in November, with completion expected in Q4 2023. 

Shore Commercial’s Martin O’Brien noted, “Rockwater sets a new design benchmark for strata industrial and storage units in Brookvale. It will cater to increased demand from smaller local businesses wanting to owner occupy as well as investors seeking to secure a foothold in this tightly held location.”