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Foreign investors own more than half of London’s financial district, a first for the city, according to a report commissioned by UK property developer Development Securities. Australia barely featured in the report.
Overseas companies now own 52% of London’s financial district following a three-year buying spree, the report says. The figures are up from 50% in 2010 and 44% in 2005.
<img src="/images/stories/ownership1.gif">
They made up two-thirds of office acquisitions by value over the past three years as they took advantage of falling prices.
London property values fell 50% from 2007 to 2009 and were 37% lower at the end of 2010 than the 2007 high.
“Irrespective of the sharp fall in capital values, the city is perceived as a relatively safe haven: conceivably as an inflation hedge,” chief executive of Development Securities Michael Marx says.
Australia is in the top eight groups of foreign owners for new builds and major refurbishments in the UK capital city.
US companies led the buying push, accounting for 37% of foreign property acquisitions, followed by Germany at 12% and Spain at 10% over the three-year period.
German companies now own the most property of all the foreign investors in London at 16%. American companies own 10%, and Middle Eastern companies own 6%.
<img src="/images/stories/ownership2.gif">
“Foreign ownership actually expanded in the eye of the storm rather than contracting,” Marx says.
“Such resilience would appear all the more remarkable in the light of the city’s associations with the failures of the international financial system.
“What offsets the systemic risk in relation to the city’s lack of diversification is the exceptional liquidity that characterises its office market.”
With €72 billion of sales activity between 2007 and 2011, London attracts more office inward investment than any other city, the report found. In mainland Europe, Paris stands at €43 billion and Frankfurt at €11 billion.
 
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Foreign investors own more than half of London financial district

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{yoogallery src=[images/stories/november24macquarie]}
A four-bedroom, seventh-floor apartment in Macquarie Residences opposite Sydney’s Parliament House has been listed for sale with hopes of more $2.75 million.
The 175-square-metre two-level Macquarie Street apartment has three bathrooms and a study and has views over the harbour and Opera House from both levels.
The apartment is one of only two four-bedroom apartments in the tower completed in late 2006 by developer Terry Agnew’s Tower Holdings.
CBRE agent Caroline Fagerlund says there are 14 unsold apartments in the 14-level residential tower at 185 Macquarie Street, the leftovers from an off-the-plan marketing campaign that began in 2003. The company hasn’t marketed any apartments in the block for several years. Most of the unsold apartments are tenanted.
“As [the tenants] vacate we’ll keep selling them,” says Fagerlund.
The tower was designed by architect Bob Nation, of Crone Nation, and Eugene Marchese, of Marchese and Partners.
Fagerlund has the latest listing, as well as another two-level apartment on the fifth floor that is listed at $1.6 million plus. It’s a two-bedroom, 140-square-metre apartment.
On completion it was reported some 27 of the 44 apartments had been sold with prices for three-bedroom-plus-study apartments at $2.9 million to $3.6 million, with popularity among lawyers given the proximity to the legal precinct. Tower Holdings engaged four interior designers – Garth Barnett, Ruth Levine, Orson and Blake, Hare + Klein – to decorate the pricier apartments on completion.
The sub-penthouses had a price tag of $5.75 million and the penthouses $10 million in 2006.
 
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Macquarie Residences Sydney apartments still linger for sale five years after completion

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G.J. Gardner Homes has been ranked third-fastest-growing company in the latest Franchise Times top 200 franchise companies operating in the US – even without Donald Trump’s help.
With $503 million in worldwide sales, the third place came from a 48% sales growth for the group, which began in Queensland in 1983.
G.J. Gardner Homes is the 12th largest homebuilder in Australia with 1,176 homes built in 2010-11, according to HIA statistics. It is the largest franchised homebuilder in Australia.
CEO Darren Wallis is modest about his company’s success. It expanded into the US market in 2006 under the direction of Wallis, who moved to the US to oversee the expansion.
“We quietly get on and do what we do. We enjoy it and a lot of our franchisees are very successful,” Wallis says.
Wallis says the sales growth figure is partially inflated by the downturn of the US dollar but that growth was still strong in 2010.
In the last six months the company has opened master franchises in Indiana and New England, and there are plans afoot to expand into Texas and Minnesota.
“I started some fairly aggressive strategies [as company director],” he says.
“At the end of 1995 we started to franchise. We had six regional offices in southeast Queensland and in 1996 those six became franchises. Then we opened offices in New Zealand in 1997.  And then in ‘98-‘99 we first looked at New South Wales.”
The 2010 growth had been planned for 2008 before the global financial crisis intervened.
“2008 was an interesting time. It was meant to be a big expansion year. We were going to expand into more American states but midway through the year people started getting scared of what was happening,” Wallis says.
“2008 was more of a stabilising year, as were 2009 and 2010.”
Despite the restrained period, the company has grown every year since it first expanded out of Queensland in 1997, but Wallis does expect a slight reduction for this financial year.
“This will be the first year we’ll drop over. It’s a slight drop back, a correction from the GFC,” he says.
“Queensland has dropped off a bit, but Victoria is still going well.
“We’re still seeing growth across America as some of those markets start to recover. We’ve doubled our sales in Colorado.”
The company ranks at 125 on the list of greatest global sales, which were listed at US$503 million. The list was topped by McDonald’s with global sales worth US$77.38 billion.
Wallis says G.J. Gardner is the only Australian residential building company operating in America.
“Diversifying overseas helps build momentum, it shows you are an expanding model,” he says.
“A lot of companies are going backwards right now. Expanding builds the brand internationally, which is a massive benefit for both us as at a corporate level and for franchisees.”
In 2007 the company was due to develop a series of homes in California in a deal with Donald Trump. G.J. Gardner would have built up to 750 homes under the scheme but Trump failed to come through with money when the financial crisis hit.
“It just fizzled out,” says Wallis.
Franchisees pay a “small” joining fee and then pay royalties when they sell a house.
“We supply the resources and skills to help take them from being a small builder to a large builder, hopefully the largest builder in their particular area.”
“We tell them we’re not successful until you’re successful.”
The survey builds a list of the top 200 franchise companies by consolidating data from companies’ self-reported data, Securities and Exchange Commission documents, the franchises’ franchise disclosure documents and other publicly available documents.
G.J. Gardner first entered the list of top franchise by total sales in 2008 at $365 million. In 2009 sales went up to $410 million. In 2010 the company did not feature because the survey requires 15% of offices to be in the US and expansion in Australia put G.J. Gardner just under the threshold.
In this year's list it sat behind US-based Real Living Real Estate at 71.2% sales growth and Express Employment Professionals at 86.3% sales growth. 
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Aussie builder G.J. Gardner Homes comes up trumps with US franchise expansion

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The median UK property asking price has fallen £7,528 to £232,144 in November, the largest monthly drop since December 2007, according to the latest report by property website Rightmove.
The 3.1% fall is the third largest monthly percentage fall recorded.
The report says that “economic uncertainty spooks sellers” and the statistics “highlight how the relentless stream of economic uncertainty around the Eurozone crisis has eroded consumer confidence to the extent that it now dominates decisions when it comes to moving home”.
This decrease comes despite UK property listings falling 13% in November to the lowest November level since the collapse of Lehman Brothers, which led to prospective sellers postponing their marketing.
The November levels are up 1.2% from £229,379 in 2010, while the highest median for 2011 was £240,394 in June.
“Markets dislike uncertainty, and so do people who are deciding whether or not to enter the property market,” says director of Rightmove Miles Shipside.
“Agents report that many would-be sellers are postponing their marketing until the new year, influenced by the current wall-to-wall media coverage of the Greeks and Italians attempting to get their own far-flung houses in order.
“It’s no great surprise that those who have braved the stormy conditions have had to accept a substantial ‘haircut’ on their asking prices.”
All the regions included in the report show a monthly drop with the worst performance by Richmond-upon-Thames, which suffered a monthly fall of 5.2%.
However, <a target="_blank" href="https://www.propertyobserver.com.au/overseas/prime-central-london-residential-market-in-an-upswing-savills/2011112152434">prime central London residential values are 15.6% over their previous peak level.</a>
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UK house prices suffer greatest decline in four years

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A former BP station is the site of a new development by Fivex on the foreshore of Woolloomooloo.
The new building, called The Anchorage, will house 15 apartments including a three-bedroom whole-floor penthouse with views over Sydney Harbour Bridge. It has been designed by architecture firm Eeles Trelease.
<img src="/images/stories/anchorage2.jpg">
The developers bought the Cowper Wharf Road site from BP for $3.53 million in a 2002 auction.
It’s currently a vacant lot but the council has approved plans for the developer to build the five-level block.
Prices start at $525,000 for a 49-square-metre studio with no parking and go up to $1.65 million for a 111 square-metre two bedroom apartment with one car park. The 370 square-metre showpiece penthouse will set you back at least $5 million.
<img src="/images/stories/anchorage3.jpg">
The initial residential plans were approved in 2003.
In 2007 Fivex lodged plans for a commercial retail building.
By 2009 Fivex started marketing the office site as Wharfside, with Stephen Bowrey at Jones Lang LaSalle handling negotiations for the mixed retail and commercial complex.
The development, which didn’t proceed, comprised about 1400 square metres of office space over four levels. There were also to be two shops and basement car parking.
Despite the delays, which included Land and Environment Court proceedings, the residential development is expected to be completed before the end of 2013.
Two of the apartments have sold for $800,000 plus in the past month since marketing began.
The apartments are being sold through John-Paul Markopoulos of CBRE.
For advice on buying off the plan download our free e-book.
 
 
 
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Tide turns to residential on long-dormant Woolloomooloo foreshore site

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{yoogallery src=[images/stories/november22milkfactory]}
A former milk factory has been listed in the Jamberoo Valley in the NSW south coast with price hopes of $1.45 million.
The 1928 factory was converted into a three-bedroom home by two artists, the current owners, 13 years ago.
The Factory Lane home includes a roller door entry into a foyer used as a studio.
They kept the original cast-iron staircase and an imposing wall of control panels used by the former factory.
The house also features a casual dining area, an eat-in kitchen, a casual living area, a formal living and dining area, a gallery space, a guest wing and a large storage area. Upstairs is another living space and a separate studio.
Painter and photographer Bill Zimpel and ceramics artist Judit are moving to Perth to be closer to their grandchildren.
The Zimpels bought the property for $220,000 in 1997.
The property is currently listed with Adam Guthrie Lifestyle Property.
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Former Jamberoo milk factory cream of NSW south coast offerings

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Prime central London residential values are 15.6% over their previous peak level, with price growth expected to top 13% this year and rise by 22.7% over the next five years, according to Savills residential research.
Growth in the prime central London market is expected to slow down in 2012 with a late downwards blip in quarter four, then stalling in 2013. However, Savills says residential values in prime central London will shoot up in the years after, supported by London’s strong global city fundamentals and an improving domestic economy.
“The price growth seen this year in prime central London does not make sense in the context of the UK economy, but must be viewed in a global context,” says Yolande Barnes, director of Savills residential research.
“Central London’s residential real estate is increasingly behaving as an asset class, more closely linked to global wealth generation than any domestic indicators.”
Things aren’t so bright for UK’s prime regional market though, which is sitting on an average of 16.6% below peak and falling. These regions are dependent on domestic wealth generation and relocation from London, which has been weak during the recent recovery. They are expected to slowly resume growth in 2013.
Scotland’s prime residential prices are currently 17.8% below peak values and by 2016 will be just 7% above current peak.
“Over the next five years prime central London residential real estate is expected to outperform many commodities markets and perform in line with West End offices and UK gilts, with additional rental growth (forecast at +27.6% from 2012-2016) on top,” says Barnes.
However,<a target="_blank" href="https://www.propertyobserver.com.au/overseas/uk-house-prices-suffer-greatest-decline-in-four-years/2011112252473"> the median UK property asking price has fallen £7,528 to £232,144 in November, the largest monthly drop since December 2007.</a>
 
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Prime central London residential market in an upswing: Savills

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Two-time Australian Monopoly champion Leon Hechtman is the latest recruit for real estate company Savills.
He will join Savills as a project manager in the project management division, which plans and oversees projects and developments.
Hechtman will initially be involved with inner-Melbourne projects.
In 2009 he defended his position as then reigning champion in a tense game at the Eureka Skydeck, and his success secured him a spot at the world championships in Las Vegas.
He has also represented Australia in Tokyo.
He recommends avoiding Mayfair and Park Lane and instead focussing on Bow Street and neighbouring properties.
"They're the ones that the good players try and get their hands on," he told The Age in 2009.
Hechtman previously worked with Ubertas Properties, where he worked on large-scale residential projects including Rhapsody on St Kilda Road and 505 St Kilda Road.
Savills project management’s divisional director and state general manager Stuart Verrier was enthusiastic about Hechtman’s Monopoly talent.
“It takes a special sort of person and quite a deal of commitment to reach the top in any field of endeavour,” he says.
“Leon’s extensive project management experience makes him an outstanding fit for Savills project management team both for our immediate and long term requirements,” he says.
 
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Monopoly champion leaves behind plastic property for real as he joins Savills 

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Rising property prices in China are abating as a result of government measures.
"The turning point of China's home prices has come," Shen Jian-guang, an economist at Mizuho Securities, told Bloomberg.
"Prices not only fell for new homes and in major cities, but also in secondary cities and in the existing home market."
House prices fell in 33 of 70 cities monitored by the government, almost double the September results, which recorded falls in 17 cities.
In 2009 China introduced a battery of measures to cool the real estate market. It increased the mandatory down payment for mortgages, which restricting the number of homes people could buy and at the same time reduced financing to real estate developers.
Wall Street Journal calculations based on data released Friday by China's National Bureau of Statistics showed prices of newly built homes in the 70 cities fell 0.13% on average in October from the previous month, compared with a 0.01% increase in both September and August.
The bureau doesn't release a single average figure for the country.
 
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China's property market cools due to government intervention

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Joanna Baillieu, a member of the Melbourne establishment family, has listed Bromelton House in south-east Queensland with expectations of more than $5 million.
The Beaudesert property has a four-bedroom home is set on 135 hectares of farming property in three titles, which earns income from a 2,880 plantation of pecan trees, turf production, lucerne hay production and horse agistment centre.
The home has two bathrooms and all bedrooms have French doors leading onto verandas with views over a 150-megalitre lagoon which has a water harvesting licence from the Logan River.
The property also includes a six-hectare irrigated polo field.
The property includes 28 horse paddocks, 28 day yards, a sand arena, a breaking yard, an eight-horse walker and a barn with eight stables.
The Bromelton House Road property also includes a three-bedroom manager’s house and a two-bedroom worker’s cottage.
It last sold at $2.1 million in 2001.
Danny Bukowski from Ray White Rural Beaudesert has the Bromelton House listing, which goes to auction on December 16.
Baillieu sold another Queensland property in 2010, when the 1,000-hectare North Toolburra farm at Warwick for about $10 million to the owners of Ascot Charolais stud farm. The property’s lagoon was also used for filming of The Thorn Birds.
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Joanna Baillieu lists rural Queensland holding at Beaudesert 

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

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Alistair Walsh

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