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The wildfires that ripped through the millionaire’s beachside sanctuary of Prevelly in WA’s Margaret River have turned dozens of houses to ash, including Michael Chaney’s historic Wallcliffe House.
Ten of millions of dollars in property have been wiped off the value of coastal communities of Gnarabup and Prevelly.
Scores of houses have been damaged during several days of fire, which was caused by a controlled burn-off that went horribly wrong.
The historic Wallcliffe House was among the official count of 31 houses destroyed.
On Thursday the shingles of the 1865-built house caught alight and fire tore through the stone buildings, including the recently added guest wing.
The house is owned by Perth millionaire and NAB chairman Michael Chaney and his wife, Rose. It cost $5 million in 2001. So committed to the house that Rose took the long-time gardener, the late Colin Thompson, to Europe to inspect and replicate the gardens of Spain’s Alhambra.
Wallcliffe House was a two-storey stone, shingle and corrugated iron homestead designed in the Victorian Georgian style built by the Bussell family. The five-hectare property also had long associations with the Terry and Hohnen families.
The luxury 10-cabin Isaac’s Ridge Cottages was also destroyed and some tourists lost their belongings and had to camp at the beach for safety.
Prestige wineries including Voyager Estate, Cape Mentelle and the Leeuwin Estate were all evacuated and being closely monitored.
Cashed-up holiday makers have been calling local estate agents concerned that their beachside Christmas rentals were under threat.
Premium properties in Prevelly leased for $5,000 a week during the festive season, when the area is heavily booked.
Local holiday leasing agent Jacqueline Keller says it is too early to even guess which houses have been destroyed or damaged.
“We only know what we are hearing on the radio, but our phones have been running hot. We are just glad there has been no loss of life,” she says.
In Prevelly and surrounding areas, which is a favourite haunt of Hugh Jackman, dozens of holiday investments properties are heavily leased for the week of Christmas.
About 15 houses in the afflicted area listed for sale with price tags of between $800,000 and $3 million. It is not yet known if any are still standing.
Premier Colin Barnett has declared the area a natural disaster zone and promised a full inquiry will take place into how the blaze happened.
The Premier said that those who lost their homes will receive an immediate compensation payment of $3,000 from the state government while those whose homes were damaged will get $1,000.
Photograph of Wallcliffe house in 1902 courtesy of Margaret River and Districts Historical Society Inc.
 
 
 
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Michael Chaney's historic Margaret River retreat burnt in WA bushfires

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Little-known Perth real estate investment company FJM Property is part of the consortium of three behind the $580 million redevelopment of Perth’s Old Treasury Buildings.
Premier Colin Barnett has agreed to a 99-year lease with the Mirvac/CBus Property consortium, with the state paying a premium rent of $102 million over $25 years.
The Treasury buildings will be refurbished into an ultra-exclusive Aman Resort while a 35-level office tower will be developed at the centre of the site, which is part of the St George’s Terrace Cathedral Heritage Precinct. The development is expected to be completed in 2014.
“We are the equity investors behind the hotel, but the building will remain a state asset. To be converting something that was one of the most important state buildings in WA is very exciting both from the heritage perspective and that we are breathing life back into a building that has sat unloved for 15 years,” says FJM director Tim Mack.
While FJM may not be widely recognised, chief executive Adrian Fini brings much experience from his many years as executive director of development for Mirvac WA and then as a non-executive director until his resignation from the board last year.
Fini is involved in several smaller projects, including the addition of a hotel to Fremantle’s Little Creatures boutique brewery and restaurant in Fremantle, but the Treasury is the company’s highest-profile acquisition to date.
It has teamed up with uber-chic Hong Kong-based Aman Resorts to manage the site.
Singapore and Fremantle-based architect Kerry Hill, who has made his name by creating some of the world’s most beautiful resorts such as Amannusa in Bali and The Datai in Langkawki, will provide creative direction.
Already it has been decided that preservation is key. While keeping most of their unique shapes, two and three original offices will be joined together to create each of the 48 rooms that will range in size from 50 square metres to 150 square metres. The building will have all the trimmings expected of a six-star operation, including a private library for guests.
“It will have a very authentic and timeless style. Aman brings together indigenous culture, Asian simplicity and European comforts,” says Mack.
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Perth's Old Treasury to become Aman Resort 

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Greedy vendors and scare tactics from the Reserve Bank have flushed scores of investors out of the WA residential market.
Leading estate agent Geoff Baldwin, managing director of RE/MAX, believes that the Perth market is full of “dead stock” that has languished because of owners’ wishful thinking.
“Investors usually represent about 25% of buyers in Perth and this has fallen to a low of 10%. They are not likely to return to the market until vendor expectation meets market conditions and the Reserve Bank stops scaring people with threats of rate rises,” Baldwin says.
Figures released by the Real Estate Institute of WA reveal that listings have tumbled by 11% since the end of June.
REIWA head of research Stewart Darby says the fall in listings is due to people withdrawing their properties from sale. The REIWA research shows that 15,500 residential properties are currently for sale.
Baldwin believes this figure is closer to 18,000 and says a large proportion of these properties were bought at the peak of the boom.
“People are being squeezed out by a tough economy, interest rates and unemployment. Many buyers committed 50% of their income to their mortgage, and deposits were just 5%. It does not take much to push many overextended home owners over the financial edge,” Baldwin says.
“This two-speed economy in WA can be hard on people that are not working within the resources sector. People just are not prepared to take a hit on their home when they first list is for sale and by the time they accept their situation it has become far worse, more money has been put on the mortgage and the value of their property has dropped further.”
He says he refuses to list houses he deems “unsalable”.
The agent recently sold a house in suburban Perth where the vendor had to borrow money from his family in order to settle the sale.
“We reduced our commission and the bank helped in its own way. While this is extreme, we should expect to see more sales where there is negative equity. As people come to terms with values, investors should slowly return to more stable market,” he says.
RP Data-Rismark’s Hedonic Home Value Index has Perth’s median house price at $455,000, which is down 6.3% on last year’s July quarter figure of $475,000.
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Unrealistic vendor expectations flooding Perth market with 'dead stock'

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Little-known Perth-based developer Finbar is making an impressive mark on the face of Karratha in the Pilbara.
The developer, which has made its name developing high-rise apartments with some office space around Perth, is shaping the future of accommodation in the mining boom town.
Its $225 million Pelago project on Sharpe Avenue, Karratha will have 292 residential apartments and 22 commercial lots.
In stage 1 – called Pelago West –  63 apartments have been sold for  $44.5 million. In another deal, nine apartments have been leased to CHC, one of the world’s largest helicopter transport companies. The leases are for five years with 4% or CPI increases annually. The average rent is $1,100 a week, and CHC has agreed to $16,000 per unit for furniture and equipment and the company pays all shire rates, management fees, land tax, water rates and strata levies.
Finbar is offering the nine one-bedroom apartments for sale for $609,300 – which includes a $16,300 furniture package – reflecting a net yield of 9.36%.
Pelago West has 114 one-, two- and three-bedroom apartments with eight commercial lots over eight levels. It is expected to be finished in the first quarter of 2012, and building is running to schedule.
Karratha, which is 1,500 kilometres north of Perth, is the important administration centre for resource companies operating in the region. It has a large population of fly-in fly-out workers, and a growing number of people live there. The WA government has targeted the town as part of its $300 million Pilbara Cities project, which is attempting to create a Dubai-style city in Karratha with satellites in Dampier and Port Hedland.
Finbar was first cab off the rank and is now turning its attention to the second stage of the project, Pelago East.
Regional Development and Lands Minister Brendon Grylls recently announced $30.4 million from the Royalties for Regions fund to build a village for workers in Karratha, including 100 houses to be developed by National Lifestyle Villages.
For advice on buying off the plan download our free e-book.
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Developer Finbar making an impact in WA desert

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The shabby face of Fremantle may get a much-needed makeover, with the council entering discussions about the redevelopment of the languishing Kings Square site.
Fremantle entered into a memorandum of understanding with Perth private equity firm Sirona Capital Management, which owns the ageing Myer building on the site.
Sirona, which has retained property developer Luke Saranceni to run the project, plans to deliver 20,000 square metres of refurbished retail and commercial space worth $80 million in 2013.
Earlier this year Myer was considering closing its door after 40 years of trading there. A delegation from Fremantle Council visited Melbourne to persuade the retailer to stay. It currently trades from only two levels of the four-floor building, which Perth financier Kelvin Flynn’s Sirona bought earlier this year.
The council owns much of the property on the historic square and is considering putting a hotel on the site. The MOU allows feasibility studies negotiations with Sirona to take place until June 2012.
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Kings Square in Fremantle set for a facelift

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{yoogallery src=[images/stories/october11oceanique]}
Serious money is beginning to trickle back in the WA’s troubled prestige residential market, with Port Bouvard securing another two settlements on its Oceanique development. 
Located on the waterfront at Dawesville, south of Perth, the latest settlement is for a $2.1 million apartment in the glamorous project. This brings the total number of sales to 27 units in the 66-unit twin-tower building, for a total of $65.7 million. 
Despite being lauded with awards from the Master Builders association, the UDIA and the Royal Australian Institute of Architects WA Chapter, the project was released into a troubled market. 
“Sales are slow but we are making them, which is good for these market conditions,” says Port Bouvard executive director Stephen Court. 
Of the 27 sales, 19 relate to presales and eight are deals secured since December, when the company discounted some units by 40%. 
The developer has targeted investors who specialise in buying display units and lease them back for its three display apartments in Oceanique. 
“We are offering a 9% return for two years on these units, which are worth between $900,000 and $2 million,” Court says. “This is a tried-and-tested marketing method and a good opportunity for investors with their cash parked up to get into the market at low and even sub-market prices.” 
<a href="https://www.propertyobserver.com.au/news/was-south-west-shaken-not-stirred/2011070650723" target="_blank">Late last year the company started a savage price-slashing campaign to stimulate interest</a>, and it brought several sales to the table and renewed interest. 
Now prices are steady at 25% off original projections set in 2007. “We started marketing Oceanique in 2007 when the market was blasting along, so we were hit hard by the GFC,” Court says. 
The company is pursuing some sales made off the plan through the Supreme Court.
About half of the 15 pre-sales are currently in mediation as part of the judicial process while the balance are in “sensible negotiations” with the developer. “Some people were ruined by the GFC and we are not interested in that type of business, but we will go all the way to settle deals that were done,” Court says says. 
Next year Port Bouvard will start construction of a massive 3,080-home site and marina development at Point Grey in WA’s Peel region and has plans for a canal project in Esperance for 2014.
For advice on buying off the plan download our free e-book.
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Calmer waters for WA's luxury Oceanique development as sales pick up

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Perth’s CBD would be a ghost town if it were not for the constant demands of bourgeoning resources companies.
The four big players – BHP Billiton, Chevron, Rio Tinto and Woodside – take nearly 20% of the CBD’s 1.5 million square metres of office space.
BHP, which is preparing to move into the city’s newest and most glamorous address, City Square, next year, takes up a massive 100,000 square metres of space spread across the CBD. Currently this includes 18,000 square metres in Central Park on St Georges Terrace and 15,000 square metres in 225 St Georges Terrace plus 3,000 square metres in 66 Murray Street, which is dedicated to training. The mining giant has other space in about four different buildings around town.
Four years ago BHP pre-committed to 40,000 square metres in the City Square project. Within the year this pre-commitment expanded to 60,000 square metres, which put the frighteners on several of the building owners who could ill afford to lose BHP as a tenant. However, the power of the resources boom has ensured that BHP will remain in its many leased addresses while expanding into City Square.
Meanwhile, over the past five years Chevron has been growing, with its initial 13,500-square-metre take-up of space climbing to about 68,000 square metres today. It is widely known that the oil company is looking to buy its own premises. Rio Tinto and Woodside each lease about 50,000 square metre of commercial space in the Perth CBD.
The Property Council WA deputy executive director Lino Iacomella agrees that the mining sector is the most important player in the CBD.
“Resources companies are the main driver of commercial office space in the Perth CBD, and increasingly those companies that are doing business with the core resource companies are becoming important players in the office leasing market,” he says.
In fact, most new office buildings going up have exposure to the mining sector.
“Mining companies are constantly bringing more people in to work in Perth. This creates a market not only for office space, but for new restaurants, shops and small bars and gives confidence for the very big projects like the Waterfront development and the state government’s Northbridge Link to go ahead,” Iacomella says.
Savills forecasts a 2.8% office vacancy rate for the September quarter. The report claims that the combined office take up from resources and associated supply companies account for more than half of the CBD’s leasing profile.
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Mining companies dig deep into Perth's CBD office rental stock

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The Western Australian government has offered a massive parcel of prime Perth CBD property for sale with hopes that it will realise more than $1 billion.
Expressions of interest for the 5.2-hectare riverfront site have been called internationally, with the government amalgamating many holdings into a single package to sell to one buyer.
It is being touted as the West’s version of Barangaroo in Sydney.
“It will be sold to a single buyer, but that is likely to be a consortium of developers,” says WA Planning Minister John Day.
According to the minister, the site will be developed into low-level office buildings, a retail strip that will connect the CBD to the Northbridge entertainment precinct, residential apartments and a prestige hotel.
“We need to bring more people to live in the Perth CBDm so there should be a large residential component,” he says.
Local interest is expected from Brookfield Multiplex, Lend Lease and Mirvac, and Singapore’s Fraser Group and cashed-up Dutch and Canadian superfunds, which already have a strong presence in Perth, are expected to put their feelers out.
Known as the Perth City Link project, it is the WA’s largest development plan. It will include the sinking of the inner-city rail line to build residential apartments overhead. The state will also pick up the cost of creating a public square within the project.
The Perth City Link is part of the large-scale redevelopment of the waterfront that includes the Riverside project near the city causeway.
Expressions of interest close in November.
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Billion-dollar hopes sought for Perth's Barangaroo

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A delegation of Chinese investors has inspected several farming properties in Western Australia’s Great Southern food bowl.
It included representatives of the Beidahuang BDH Group, a state-owned company that has 5 million hectares in China’s Heilongjiang province.
The arrival of serious interest from Chinese in agricultural land has divided local farmers and the WA Farmers Federation.
The delegation of about a dozen people, which included agronomists, farmers and government officials, toured grain farms at Lake King and Ongerup with a local agent.
Nearby Lake Grace farmer and WA Grains Group chairman Doug Clarke says that he has had three meetings with the delegation regarding investment in local agricultural land.
“The Chinese buy or lease farms in Brazil, Argentina, New Zealand and North Africa and in return they develop excellent infrastructure,” he says.
Great Southern farmers have made it clear to the Chinese they that want good port access and a sophisticated supply chain that is available for them to use as a third party. The Great Southern region ships through the Albany port zone.
“The delegation was responsive, and farmers here like the idea. I have been fielding a lot of calls from farmers I know wanting me to introduce the delegation to them,” he says.
So far the delegation has inspected properties that are already on the market, and foreign investors already own one –the Lake King property.
“The Chinese take their food security very seriously. One of them told me they produce 1.2 billion tonnes of grain and that is not enough,” Clare says. “Where we only produce about 3% of the world’s grain. We are very small in comparison.”
The WA Farmers Federation has expressed serious concerns about interest from China in 80,000 hectares of prime Western Australian cropping land.
Federation president Mike Norton believes if a large swathe of farmland falls under single ownership that many rural towns in the regions will disappear.</body></html>

Chinese investors eye Australian farm property

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Plans to mine parts of the Western Australia’s beautiful Margaret River prompted outrage among locals, politicians and the rich and famous.
Adventurer Michael Palin released YouTube video asking “who in their right minds” would mine Margaret River, and comedian Ben Elton has ridiculed the planned Vasse underground coal project. Actor Hugh Jackman proclaims the region is his favourite holiday destination in the world.
The coast, which is about 300 kilometres south of Perth, has world-class surf beaches, million-dollar mansions, upscale restaurants and some of the most important vineyards in Australia. From Christmas to Easter the entire south-west region is a low-key millionaire’s playground.
Two action groups, the No COALition, which fights coal projects, and SOS Margaret River, aim to quarantine the region from oil and gas development, quickly formed at the first sniff of interest from the resources industry.
In March mining outfit LD Operations planned for further studies for its proposed Vasse Coal Project, a huge underground mine just 15 kilometres from the town of Margaret River, was given a resounding no by the Environment Protection Authority.  Residents were concerned that groundwater could be contaminated and the area’s prestigious reputation as a holiday hotspot would be diminished.
That combined with powerful and relentless lobby groups and the area’s iconic status prompted resources-loving WA Premier Colin Barnett to declare Margaret River as a mining no-go zone.
Then in May, Barnett was reported to tell a Perth business lunch that he was prepared “to act” to block Vasse Coal Project.
“I don’t know how [LD’s appeal] will pan out, but at the end of the day it is up to the elected governments to make decisions, and it would take a powerful argument to convince me that we should place at risk the standing of the Margaret River,” he told the lunch.
Now the EPA has received close to 800 individual comments across 30 issues relating to the Vasse Coal Project. LD Operation’s appeal is with EPA conveners and a decision is expected within about two months.
LD Operations managing director Peter Ross has concerns about the validity of the EPA’s decision.
“We are currently going through the appeals process against what we believe was a premature decision by the EPA. Part of our concern with that decision was that it prevented a full environmental, social and economic assessment of what the impacts – positive or requiring management – of this project may be,” Ross says.
State opposition spokeswoman on the environment Sally Talbot says a local strategy needs to be developed to protect the unique qualities of the Margaret River.
“We did a similar thing for the Swan Valley some years ago and the same needs to be done in the south-west. Planning Minister Bill Marmion has had the EPA’s report for months and not made a single comment. It is incumbent upon him to state the government’s position on this,” Talbot says.
In New South Wales the same issue hangs over the wine-producing Hunter Valley. Barry O’Farrell’s government promised tough new restrictions to be placed on mining with favour falling to landowners.
Hunter Valley winemaker and activist Andrew Margan says that between a population boom and coal seam gas exploration vineyards have come under serious threat.
“AGL completed its first stage of exploration in Broke, and I am right in the middle of it and lobbying the state government,” Margan says.
He wants the government to give priority to agriculture over other interests.
“Barry O’Farrell says his government will recognise the primacy of agriculture throughout NSW. We are very happy with that, but we are watching closely and want promises to be made into reality,” he says.
In Queensland a year ago the Surat Basin Future Direction Statement was created to maintain a balance between economic benefits and quality of life. The statement polarised landholder rights, the protection of the environment and maintaining a good quality of life in a region under pressure from billion-dollar energy interests.
Meanwhile, in France, where vineyards are proudly protected by law, a group of wine growers in the depressed north are remediating defunct coalmines for viticulture. About 3,000 chardonnay vines have been planted on spoil heaps of Pas-de-Calais overlooking the village of Haillicourt.
Leading the project is engineer Olivier Pucek, who was born "at the foot of a spoil heap" but moved away and now runs his own hobby vineyard in Charentes.
He pulled together a group of winemaking friends to put down €24,000 and with some financial support from Haillicourt, hopes to create a new palatable vin blanc named Carbonnay.</body></html>

Coal prospects hard for wine regions to swallow

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;

Joel Robinson

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.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Andrea Dixon

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