Property syndication firm Augusta Funds Management has shifted its focus back across the Tasman, buying a large industrial complex in Brisbane.

The 8,764 square metre building is 10 years old and was bought for A$28.5 million (NZ$30.4m).

Leased to a natural medicine supplier, the complex sits on a 1.52 hectare site at 741 Nudgee Rd, in Brisbane's Trade Coast area.

Offering warehouse, laboratory, cold store and office facilities, the building is on a strong corner location close to major transport routes and the airport.

Augusta currently has 12 Brisbane properties under management and managing director Mark Francis said they remained a key part of the firm's diversification strategy.

"In our opinion, the Queensland industrial property sector continues to experience strong levels of leasing and sales activity which has resulted in falling vacancy rates and rising rentals," he said.

"The properties we currently manage there are performing well, with the majority showing good capital growth in recent years."

Augusta will seek to raise A$17.75m (NZ$18.93m) to fund the purchase by offering 355 units worth A$50,000.

The units will be put into a trust that will be managed by Bayley's syndication arm.

The Nudgee Rd offering is Augusta's first Australian registered scheme open to investors on both sides of the Tasman. Previous schemes were only open to New Zealand-based investors.

Augusta Fund's last three syndications have all been large office complexes in Auckland, namely the BDO Centre and Mercury's head office complex under development in Newmarket.

It is owned by NZX-listed Augusta Capital, and has some 150 commercial and industry properties under management.

Meanwhile, property and fund manager Property Managers Group (PMG) launched an investment fund for wholesale investors targeting purpose-built childcare facilities.

PMG Direct Childcare Fund will acquire two new centres in Auckland and Christchurch and will offer up to 10 million units at $1 per unit.

PMG chief executive Scott McKenzie said as a property investment class, early learning centres were highly-sought after by investors.

"The sector is viewed as more stable than other asset classes given the strength of the generally long-term leases, strong government funding and New Zealand's relatively high childcare participation rate."

McKenzie said it was a growth industry, with the Government's goal to ensure almost all children between 3 and 5 attended early learning centres prior to school.

"There is no doubt that there is a shortage of quality early learning centres in New Zealand, especially in Auckland and Christchurch," he said.