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For some time, Brisbane has been the focus of investors looking beyond Sydney and Melbourne for future growth and lower entry prices.
In fact, last month we saw that Brisbane has lagged somewhat behind these two capitals on the property cycle and is <a href="/expert-insights/investing/sydney-melbourne-and-brisbane-where-they-are-on-the-property-clock">expected to be in the upswing over the next few years</a>.
National Australia Bank has also suggested that <a href="/expert-insights/investing/brisbane-and-sydney-to-lead-2015-but-growth-to-lag-nab">Brisbane, along with Sydney, is set to lead in 2015, albeit with moderate growth</a>.
Observer Terry Ryder, however, <a href="/expert-insights/buying/brisbane-on-the-slippery-slope-to-oversupply">warns of a potential oversupply for some properties in Brisbane</a>.
<img src="/images/2014/11/24/bris%20nov%2024%20one.jpg" alt="">
<a href="https://whichrealestateagent.com.au" target="_blank">Source: Which Real Estate Agent</a>
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Infographic: Is it time for Brisbane property to take off?

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We are currently in the most competitive variable home loan market since the GFC, according to the director of Mozo.com.au, Kirsty Lamont.
Lender Heritage Bank has just dropped their variable home loan rate down to 4.39%, which according to <a href="https://mozo.com.au/home-loans" target="_blank">Mozo</a> analysis of RBA average home loan data, is a rate not seen for average home loans since the 1950s.
"Fierce competition has well and truly returned to the market as smaller and online lenders cut rates to record-low levels to compete with the majors,” Lamont told Property Observer.
She urged borrowers to look beyond the big four banks, with savings available of $2,064 per year based on a $300,000 loan over 25 years. 
"You may have to be prepared to do some of the leg work yourself but that could earn you some solid savings on your home loan,” she said.
Here are the top five loans currently available:
<a href="/images/2014/11/25/loans-nov-25-one.jpg" target="_blank"><img src="/images/2014/11/25/loans-nov-25-one.jpg" alt=""></a>
*Comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years
Source: <a href="https://mozo.com.au/" target="_blank">Mozo.com.au</a> as at 24 November 2014
Mozo’s data, which looks at 551 loans from 79 providers, records 62 providers offering variable rates less than 5%, with an average variable home loan rate of 5.22%. The average variable rate of the big four is 5.38%.
These average rates have been based on LVRs of up to 80% on a $300,000 loan amount.
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The top five variable loans currently available: Mozo

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There’s no bubble in Australia’s housing market, but that doesn’t mean you can rest easy, according to ANZ’s chief economist Warren Hogan.
Speaking on ANZ’s BlueNotes, Hogan said that we have the platform to see a bubble develop over the next few years, particularly if more people start purchasing speculative investment properties for short-term growth.
“There’s certainly a risk that we’re moving into [bubble] territory but where we sit now in late-2014 is not a housing bubble,” said Hogan.
“There are some excesses forming around the Sydney market that is a very historically high level of investor activity. But this is not a broad-based bubble; outside of Sydney and Melbourne house price gains are lethargic – we’re talking 3%, 4%, 5% for the other capital cities. And the amount of leverage in the market outside of Sydney and Melbourne is quite modest,” he said.
His view is that a housing bubble must be characterised by a broad-based increase in leverage, rising prices and unsustainable speculative behaviour.
“The issue is that we have the platform to form a bubble in the next few years. We’ve seen a significant increase in prices in Sydney, in Melbourne over a number of years and there is some momentum outside of those major cities and that means that expectations for capital appreciation are starting to form,” he said.
“What we want to watch, and where we think it could become a real problem, is when we get a broader element of the community getting involved in investment property that is on a short-term speculative view. That’s where you get into problems.”
{qtube vid:=_Qt50EYF-2A}
Recently, Mirvac’s chairman John Mulcahy also expressed an opinion that the property market isn’t currently in a bubble. Instead, he pointed to lack of supply.
 “While we agree the level of activity in the sector has increased, and pricing has improved in certain geographies, we believe the primary driver of this is the fundamental undersupply of housing across the country,” said Mulcahy.
“In relation to foreign investors, we continue to see demand from offshore buyers, particularly for apartment projects located in our major cities. For the 2014 financial year, foreign buyers comprised 11% of all settlements.”
Mulcahy noted that the percentage of total investors, both foreign and domestic, versus owner occupiers, is just over half of their apartment business.
“This is at the top end of our historical band, however, we would need to see this reach much higher levels to suggest a bubble,” he said.
“Investor activity is certainly buoyed by low interest rates, a view that property is a safe investment and a more cautious outlook towards general equities. But the key driver of higher pricing is driven primarily by a lack of supply, particularly in Sydney.”
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No bubble, but there is a platform for one to develop: ANZ’s Warren Hogan

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A record number of new dwellings have commenced building in 2014, according to the spring 2014 edition of the Housing Industry Association’s (HIA) National Outlook.
HIA chief economist Harley Dale said that the growth in new residential construction has been slower to gather momentum.
“In aggregate, we will commence nearly 190,000 new dwellings in 2014, surpassing the previous record of 187,000 back in 1994,” said Dale.
“The momentum culminating in this milestone has provided a substantial boost to Australia’s economy at a crucial juncture in the cycle. Below trend economic growth and weak labour market outcomes would be considerably worse without the reach a new home building recovery is exerting into the broader economy.”
However, it’s uncertain as to whether these levels will push even higher over 2015 and 2016, with Dale noting that the reform initiative from policy makers hasn’t been evident.
“Record low borrowing costs have combined with other factors such as high net overseas migration to unleash substantial pent-up demand for new housing. These factors will keep the level of new homes commenced at historically elevated levels,” he said.
“However, what the economy needs is further growth in new home building over the next couple of years, but that will only occur as a consequence of taxation and regulatory reform.”
Despite the increase in new homes, renovations investment have not been as prominent with a 0.3% increase in 2013/2014 from a decade low.
“Unemployment concerns, a lack of available credit, and an elevated household savings rate are but three elements in the current environment which mean there has not been room for a renovations recovery alongside new home building activity and existing property price growth,” Dale said.
Even so, 0.9% growth in renovations investment over 2014/2015 is expected to be pushed up by 2% in the next three years.
In New South Wales, new dwelling commencements over 2013/2014 was up 16.2%, after 30.8% growth in 2012/2013. Another 9.3% growth is forecast by the HIA for this financial year, with activity to ease over the next financial year onwards.
Bullish expectations are in place for Queensland, with 20.3% growth over 2013/2014, after a modest 2.8% growth level in 2012/2013. Another 8.4% growth is expected in 2014/2015 with further higher levels of growth in the years following.
Victoria saw a 0.7% uptick in 2013/2014, after a 0.1% decline in 2012/2013.
Meanwhile, South Australia saw a 20.8% uptick in 2013/2014, after a 3.4% drop in 2012/2013. A 7.4% decline is forecast in 2014/2015, before bouncing back in the next financial year to the tune of a 5.7% uptick, followed by another bullish year of 4.1% growth in the subsequent financial year.
Western Australia’s peak was in 2013/2014, with a 3.2% decline this year and substantial declines of 10% and 5.7% tipped for the next two financial years.
New dwelling commencements in Tasmania are expected to rise over this financial year by 13.8% and by 3.2% in 2015/2016. The dwelling approvals figure is then expected to drop by 4.0%.
The Northern Territory’s commencements fell 16.7% in 2013/2014, and further declines are expected over this financial year and next, with 2.1% and 12.1% drops respectively. A recovery is in sight for 2016/2017, according to HIA predictions.
The ACT has also been recording strong declines that will not recover until 2016/2017, at which time it will increase 8.5%. After a drop of 10.2% in the last financial year, declines of 13.5% and 7.6% are expected for 2014/2015 and 2015/2016 respectively.
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Record new dwellings commencements, but 2015 outlook uncertain: HIA

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ME Bank has released a support package for ACT home owners affected by Mr Fluffy asbestos that sign on to the government’s buy back scheme.
The package allows home owners to borrow against their dwelling to accelerate the purchase of an alternative home.
Up to 80% of an agreed value on an existing property will be available through ME Bank, with standard lending criteria still to apply. The standard hardship policy will also be available to these property owners.
The hardship policy allows deferred or reduced home loan repayments if they are facing financial hardship.
Around 1,000 residences in Canberra had loose amosite asbestos installed by Mr Fluffy from the late-60s to the 70s.
Between 1988 to 1993, the federal government attempted to remove the asbestos, but did not manage to clear the properties.
Jamie McPhee, CEO of ME Bank, said that home owners understandably want the certainty and ability to move on with their lives.
It is important people know the banks are here to help people through this difficult time, said McPhee.
“To help them ME Bank has agreed to lend on their existing Mr Fluffy-affected homes using standard lending criteria, and as soon as they join the buy back. That means they can start looking for and potentially buy a new home as soon as possible,” he said. 
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ME Bank establishes support package for Mr Fluffy home owners

Prestige sales surge 12% nationally, Sydney leads growth: LJ Hooker

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A $200 million, 18 storey mixed-use proposal has been received from Darwin developers Randazzo and La Pira families for a Palmerston ‘superblock’.
The ‘superblock’, named as such due to its 6,060 square metre size in the centre of the CBD, has been vacant since the 1980s and is government owned, according to Minister for Lands, Planning and the Environment Peter Chandler.
It will be the tallest building in Palmerston and the first mixed-use project of its kind. The Northern Territory developers previously created the Palmerston Shopping Centre, Highway House and the Goyder Building.
It is to be the first of its type for Palmerston and will provide housing and accommodation options.
To be called Boulevard Plaza, it is expected to bring 225 apartments, 185 hotel rooms and street level access to 10,000 square metres of retail and hospitality space, said Chandler.
“What’s becoming clear is that Territorians want more choice with their housing options. Apartments in Darwin are being snapped up at record rates and smaller blocks of land are becoming more attractive to home buyers,” he said.
“Living and working in the city has many economic and environmental advantages with less of a reliance on vehicles to commute to work, shops or social events.”
Paolo Randazzo and Peter La Pira have said that it will revitalise and activate the heart of the city, noting it will support the rural area, defence activities, oil and gas, the new hospital and the increased commercial activity.
“We played a key role in the social and economic growth of Palmerston and we are now reinvesting in the city’s future because of our confidence in Palmerston’s growth,” La Pira said.
It will be designed by another local name, architects Jackman Gooden, and will have energy efficient measures and a large podium on level five.
The proposal will be lodged with the Development Consent Authority in early-2015, with construction expected shortly after. It will be built over several years in a staged release.
Picture of Palmerston courtesy of Bidgee/Wikimedia Commons.
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Palmerston’s tallest building coming: 18 storey 'superblock' proposed

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A total of 24 townhouses are available in Brighton’s beachfront 30 Esplanade development, priced from $1.9 million to $2.3 million.
The $48 million <a href="https://www.scland.com.au/cms-projects/esplanade/" target="_blank">30 Esplanade Brighton</a> project, 14 kilometres south-east of Melbourne, features views of either the Melbourne skyline or Port Philip Bay.
Designed by Wood Marsh Architecture, the SC Land project comprises of two rows of 12 townhouses, constructed by Watpac. They are sized from 250 square metres to 300 square metres, including their outdoor areas.
The townhouses cover four levels, including a rooftop terrace, and include features such as a hand-blown glass disc doorknob, created by Melbourne’s Mark Douglass and designed by architect Randal Marsh.
Each has a private double garage and features three bedrooms and two to three bathrooms.
Gaggenau stainless steel appliances, including a steam over and pyrolitic oven, are kitchen inclusions, with the bathrooms to feature Roger Seller fixtures. Some of the main rooms have walk in wardrobes.
Stage one is expected to be complete in 2015.
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Brighton’s 30 Esplanade townhouse development priced from from $1.9 million plus

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Having been diagnosed with cancer at the age of 42, Western Australia real estate agent and investor Keith Daddow now has a mammoth $30,000 goal to raise money for prostate cancer.
As of writing, he is just $3,495 off his goal, with the proceeds to go to the Prostate Cancer Foundation of Australia. He has been raising the funds through Save A Man: Kilimanjaro Challenge 2014.
In what he calls a “shock to the system”, he was diagnosed after he wasn’t feeling himself and went for a check up.
Now at 45, he has three children and is living life to the fullest.
The charismatic real estate agent from Perth Property Solutions’ Keith Daddow told Property Observer that he’s no stranger to life’s hardships.
Having now climbed Mount Kilimanjaro with a number of other cancer survivors, he’s doing his best to achieve the last $3,500. He paid for the trip himself, with all donations to go straight to the cause.
You can <a href="https://saveamankilimanjarochallenge.everydayhero.com/au/keith-daddow" target="_blank">donate to help him raise the final $3,500 via this link</a>.
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Cancer-survivor real estate agent just $3,500 off $30,000 charity goal

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The Property Council of Australia has welcomed the Western Australia Government’s announcement that they will reduce red tape in both planning and the construction approval process, saying it will make developments more affordable.
The changes, announced earlier this week by Commerce Minister Michael Mischin, aim to allow builders to start construction upon lodging a certified permit application while the application is processed. This will be called the Instant Start initiative.
“Lack of certainty about the time taken to grant an approval are a significant cause of cost, delay and frustration to the home building industry and its clients,” said Mischin.
“Each week of delay can cost the owner hundreds of dollars in mortgage costs on land and in rental costs.”
Builders’ margins are also said to be higher due to uncertain start times and inability to schedule subcontractors effectively.
“With Instant Start, builders can be confident in starting work because both planning and building compliance have been verified by competent and independent experts,” he said.
Registered builders will be able to use Instant Start when the amendments to the regulations have been made. Mischin suggests that this will occur in around six months.
Renovations undertaken by a registered builder will also be included.
Property Council of Australia executive director Joe Lenzo said these changes will assist Western Australia to “meet its growth challenges”.
“It is very pleasing that the Government has acknowledged the need to streamline planning processes across all local governments, prioritise major development approvals and eliminate unnecessary red-tape in the housing sector,” said Lenzo.
“The proposed changes will also enable planning authorities to devote more resources to priority projects in a timely fashion,” he said.
“Eliminating planning approvals for straight forward house construction that meets all the standards is long overdue.”
Mischin also noted the reforms would assist local governments to offer electronic lodgement and processing of applications.
“This will reduce variations in requirements between local governments and remove the current manual processing period needed to assess applications for completeness and compliance,” he said.
Developments and renovations allowed are for single residential buildings, and applications must include verification that planning consent is not required.
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Building and renovating to become cheaper under reforms: Property Council

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

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Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Jennifer Duke

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