Shaking up South Australian property

Terre Property

Terre Property’s Mark Brammy and Leedwell’s Steve Smith discuss their burgeoning partnership and the exciting possibilities of the Cavan Connect Logistics Park.

Mark Brammy, CEO of Terre Property, and Steve Smith, Partner at Leedwell, are well-known commodities in the South Australian property world. The pair recently sat down with MHD to discuss the burgeoning partnership between Terre Property and Leedwell. 

Steve and Mark have known each other since working together at Goodman Group earlier in their careers. 

“Our relationship with Steve, the Leedwell team, and many of his colleagues goes back many years,” Mark recalls. This tight-knit network, particularly in the industrial logistics sector, is a boon to both Leedwell and Terre Property. 

The proximate cause of Terre Property and Leedwell re-connecting was Terre Property’s purchasing of the Cavan Connect Logistics Park (of which more later). 

“The parcel of land that we have  purchased, Cavan Connect, was previously  a Goodman asset,” says Mark. “The relationship between myself, Steve, and the team at Goodman is strong. That’s where we had the idea to acquire this land with a strategy of developing it into a prime grade industrial property.”

Goodman’s focus towards the Eastern Seaboard and international markets left a gap for Mark and Steve to step in.

“We have a lack of available land opportunities in the market within that particular precinct,” Steve says, commenting on the industrial real estate climate in Adelaide. But Mark and his team are well-equipped to meet this challenge head-on. Terre intends to deliver institutional-grade assets that will not only be attractive to the market but also burnish their reputation as competitive and capable players in the industry.


In its relatively brief history, Terre Property has already established itself as a standout performer in industrial real estate. 

A vertically integrated investment manager, Terre Property has made its mark by specialising in developing and repositioning Industrial & Logistics assets throughout key markets in Australia. 

Terre Property’s vision is rooted in its core values, which focus on specialist knowledge in pre-lease development, asset management, and prudent investment management for its capital partners. 

“We strive to provide long-term value for our investor clients while also partnering with tenants to form long-lasting relationships,” Mark explains. 

One such relationship, a partnership with Singapore based Straits Real Estate (SRE), has significantly influenced Terre Property’s operations and strategy in Australia. SRE, the real estate investment arm of the SGX-listed entity Straits Trading, is a cornerstone investor client and partner in the Terre Property  platform. 

In other words, Terre Property has some big guns backing it. 

“We’re responsible for ongoing asset management and investment into Australian-based industrial & logistics assets,” Mark says.

This strategic approach aligns with Terre Property’s broader vision and the current trends in the Australian real estate market. “We see longer-term trends relating to the industrial and logistics sector remaining consistent,” Mark notes. “An undersupply of quality product to suit tenant requirements is resulting in upward pressure on face rents.” 

Terre Property boasts a number of significant assets along the Eastern Seaboard and in Adelaide, such as the Coca-Cola Europacific Partners South Australian Distribution Centre, and the headquarters of Siemens’ Australian operations located in Bayswater, Victoria. 

Terre Property and Leedwell are working to bring modern industrial real estate opportunities to South Australia.
Terre Property and Leedwell are working to bring modern industrial real estate opportunities to South Australia.

Another key asset is the Cavan Connect development in Adelaide. This industrial parcel is situated in the tightly held inner northern precinct, providing superior connectivity to the main arterial road infrastructure. Mark believes that the Cavan Connect project will offer tenants modern, tailor-made accommodations in an inner industrial precinct – a unique opportunity in Adelaide’s industrial property landscape.

With its strong portfolio of assets and deep-rooted relationships – not least its relationship with Leedwell – Terre Property is set to remain a significant player in the Australian I&L sector for years to come.

Cavan Connect Logistics Park

Cavan Connect Logistics Park, at 48,500 square metres, lies in a prime location within the northern Adelaide industrial market.

“With two street frontages, it’s in close proximity to major north-south road infrastructure, as well as rail infrastructure,” Steve explains. 

The site’s strategic location and flexible design allows it to cater to a wide range of industrial needs, with suitable spaces ranging from 3000 to 25,000 square metres. Notably, Cavan Connect is nestled among numerous food production and storage businesses, placing it in a perfect position to tap into the cold storage and fresh food logistics market. Steve stresses the heightened importance of this sector in the wake of the COVID pandemic.

“The site caters to that but not only that, we’re just tapping into what is around the location specifically,” he continues. 

The potential to create a hub in this space is enticing, as is its its central location and extensive connectivity to the metropolitan area and interstate networks.

The Cavan Connect site, currently vacant and recently settled, will soon become a hive of activity. 

“The plan is for Terre Property to build institutional-grade assets,” says Steve. He further explains that the intention is to cater to tenants’ specific requirements while keeping commercial viability in mind. The scarcity of quality assets in Adelaide, coupled with the evident demand, makes the prospect of speculative construction feasible and potentially beneficial in stimulating further development.

Mark says Terre Property’s background in understanding development construction and working closely with tenants – with expertise spanning supply chain issues, automated racking, cold stores, and technical manufacturing processes – means they’ve got the bona fides to deliver the goods at Cavan Connect. 

However, until tenant needs are clear, the development is aimed to respond flexibly to anticipated market demands. “It’s just about responding to what you think the market is going to want to receive, which is probably a more generic type of industrial facility,” Mark explains. “But we’re not ruling anything out. We have the know-how to tailor solutions to unique client needs.”

The facility will include arrangements for solar and other environmentally friendly features, which are highly attractive for businesses striving for carbon neutrality. “That’s where the old stock in the market – particularly in the north – won’t be able to compete with the modern scale and size of this development,” Mark concludes. 

“Cavan Connect marks a distinct shift in the industrial real estate landscape in Adelaide. And we’re so pleased to be working with Steve and the Leedwell team to bring exciting new industrial real estate opportunities to South Australia.”

For more information on Leedwell, click here

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