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A new property website has launched – Exchangehouse – where property buyers can bid on residential homes.
Director of <a href="https://www.exchangehouse.com.au" target="_blank">Exchangehouse</a>, Mark Jamieson, said that they expect it to change the way people buy and sell property.
“We identified three major shortcomings with current methods of sale. Firstly, buyers are wasting time and money chasing properties beyond their budget,” he said.
“Secondly, sellers and buyers are making pressured financial decisions on auction day. Lastly, there is a lack of reliable information for all parties during the marketing campaign.”
The site was founded by Jamieson and Jonathan Elepano.
A fully integrated online platform, the first property to be sold and listed will be <a href="https://exchangehouse.com.au/auction_details.php?auction_id=100539%20" target="_blank">30 Cook Street, Randwick (pictured above), which is marketed through Ray White Coogee</a>. It was listed on Saturday.
Alike to eBay, it shows the number of watchers, which could prove an interesting bit of information for prospective buyers. It also includes an 'opening bid call' of $1,997,500, as well as the time which bidding commences.
Contract of sale, reports, further information, bidders guide and auction rules are all provided on the site.
Agents can list on behalf of vendors, an undisclosed reserve price is set on the first day of the campaign, but can be adjusted at any time.
Buyers are told when bidding will begin and it is noted that this is kept within a reasonable range of the reserve, assisting transparency, efficiency and convenience.
“Overseas buyers are expected to embrace the new technology platform,” said Jamieson.
An email and SMS alert system is in place.
Buyers are required to pay a $2,000 bond as part of the registration process, which is immediately refunded when the auction closes if they do not win the property. If they are successful, they retrieve the bond upon payment of the deposit.
It costs $250 to list a property, as well as a further transaction fee of 0.15% if the property sells.
At present, New South Wales listings are available – with a national expansion due to take place next year.
{mijopolls 55}
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Bid for homes online on new property listings website

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The Real Estate Institute of New South Wales has called on the Reserve Bank of Australia to avoid restricting the property market by pushing up interest rates and expressed their disappointment at RBA governor Glenn Stevens’ property warnings.
REINSW president Malcolm Gunning said that six months ago Stevens was encouraging investment in real estate.
“Now that the public is buying properties with confidence the RBA has changed its mind and is being critical, giving warnings about investing in an over inflated market,” Gunning said.
“We are very disappointed that RBA Governor Glenn Stevens is trying to restrict investment in property by sending out warnings about buying property.”
He said that they are not only disappointed that the RBA is providing this advice, but also that they have “singled out” property.
“The fact is that investors are more confident about putting their money in Australian property compared to the uncertainty of the share market and the underlying mistrust of this sector following on from the GFC,” he said.
Gunning said that they admit that low LVRs of 95% are dangerous, but notes that the practice should be curbed by asking banks to be more responsible with their lending, rather than turning to interest rates to restrict the market.
“Using a broad tool such as interest rates to affect one sector of the market is unjust on all areas of the market and is inappropriate,” he said, noting they’ve regularly been used as a quick fix.
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REINSW admits 95% LVRs are dangerous, but warns off inappropriate RBA rate hikes

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Melbourne’s property market has yet to peak with strong momentum to keep pushing property prices higher, according to director of Wakelin Property Advisory, Paul Nugent.
While robust auction clearance rates and price growth are expected to continue, supply remains the most important factor when looking at the market’s current strength.
“To date, the growth in supply over 2014 has been steady but not sufficient to outweigh strong demand,” Nugent said.
“But there is always the possibility of a surge in supply in November and early December, as can happen in Melbourne. Often, agents, seeking to avoid the sporting events of early spring, back-fill the calendar with auctions. We’re getting a taster of this phenomenon this weekend, when 1,800 auctions have been scheduled the week before the Flemington Racing Carnival kicks off.”
He noted that if auction clearance rates do weaken, it’s worth considering whether it is a result of strong supply, rather than weak demand.
“The momentum in the market is strong, which may upset those looking for an instant slump in response to recent commentary from the Reserve Bank about the sustainability of house prices,” he said.
“Whilst some may wish for the market to immediately bend to this narrative, the power of Reserve Bank jawboning has been overstated … Its impact at best is short-lived and, each time it occurs, diminishing.  Jawboning may give pause for thought, but after a while it comes to sound like Cry Wolf. Participants in the property market will continue to buy and sell property.”
Nugent noted that the current clearance rate has seen 70% to 75% of auctions remaining successful for over a year.
“That is an extraordinary run when a clearance rate in the 60% has historically represented a balanced, healthy market. So I’m bemused by comments we hear when the clearance rate dips into the low 70% or high 60% that the market is struggling. People with short memories should stop treating a 70% plus clearance rate as the new normal,” he said.
The challenge coming for the market will be an upswing in interest rates.
“The property market will respond to actions, not words. It may only take a relatively modest increase – say 0.5% to 0.75% – to shut off price growth for six to 12 months, but it will be a tangible policy action rather than a threat of one that will deliver that outcome.”
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Melbourne market yet to reach tipping point: Wakelin Property Advisory

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Richard Bruxner, a Northern Territory lawyer, has been appointed by Attorney-General John Elferink as the president of the new Northern Territory Civil and Administrative Tribunal (NTCAT) for a period of 12 months.
The 12 month temporary appointment is until a selection process is complete and a permanent president is appointed, explained Elferink. Candidates for president of NTCAT must be a magistrate or eligible to be a magistrate.
The NTCAT is located in Casuarina.
“Mr Bruxner has 24 years’ experience as a lawyer, mainly in the field of litigation. He was at the private bar for 11 years before joining the Solicitor for the Northern Territory’s Chambers in 2008,” he said.
“Mr Bruxner was appointed Crown Counsel in October 2011 and has since been working in the Solicitor General's Chambers.”
The new NTCAT was introduced to cut red tape and provide a single place for civil and administrative appeals, with a focus on ‘fairness’ rather than strict legal interpretations, with an aim to be less intimidating than court-based appeals.
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Northern Territory lawyer appointed NTCAT president

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There are four suburbs in Melbourne, in the inner west and inner north, that represented the best investment value for those looking to take advantage of the market in 2008/2009, according to the Annual Recommended Suburbs Survey from Nyko Property.
Investors who purchased in these suburbs during those years saw substantial growth.
The four suburbs picked by Nyko Property were:
<ol>
<li>
<a href="/news">Footscray</a> 
</li>
<li>
<a href="/news">Maidstone</a> 
</li>
<li>
<a href="/news">Thornbury</a> 
</li>
<li><a href="/news">Preston</a></li>
</ol>
All located within 10 kilometres of the CBD. Footscray and Maidstone are in the inner west, while the final two are in the inner north. In 2008/09, each had a median unit price of less than $400,000.
Nyko Property director Bill Nikolouzakis said that their prices and location made them undervalued 'hotspots' which had achieved strong results for those who purchased in.
“Their price and location gave these key suburbs substantial upside; we identified that they were poised for growth, even in a flat and falling market,” he said.
“Although Footscray and Thornbury had a lower socio-economic demographic, our research suggested their proximity to the CBD and the high performance of the neighbouring suburbs would ensure their gentrification,” said Nikolouzakis.
Those who bought in Thornbury saw the suburb outperform the Melbourne market by over 100% during that period.
“Our survey takes into account the demographics of the suburb as well as the new demographic entering the area through gentrification and selected projects that we felt most suited that change,” he said.
His tip to identifying these hot areas? Plan Melbourne – the document that identifies locations likely to see strong employment and population growth.
“The State government has pinpointed suburbs, and even key areas within those suburbs, in which they anticipate growth and therefore have committed extra funds for improvement of infrastructure and amenities,” he said.
“An in-depth knowledge of the local areas and the micro-economic factors affecting them are the keys to selecting high growth locations.”
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The four suburbs in Melbourne you missed the boat on: Nyko Property

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 Meriton Apartments won the Housing Institute of Australia (HIA) NSW Apartment Complex award for 10 storeys and over at the 2014 HIA-CSR NSW Housing and Kitchen &amp; Bathroom Awards over the weekend.
The win was for their Zetland complex, VSQ North, which includes the tallest apartment tower in the area. The project was called “visually appealing” by the judges.
With amenities including an indoor pool, gym and sauna, as well as energy efficiency measures, the development came out at the top of the pack.
Designed by Turner architects, the Meriton development spans four buildings as well as a 27 level tower.
The complex was completed in July 2013 and currently houses 297 households and includes a child care centre and 131 bicycle spots.
Meriton’s managing director Harry Triguboff said they were proud of the achievement, and had faith in Zetland from the beginning.
“It has become a landmark building for Zetland and for Sydney itself – it is one of the first buildings you see as you drive in from the airport,” he said Triguboff.
HIA NSW executive director David Bare said that next year will be the national awards, with major winners from each state and territory’s awards progressing to compete on the Australia-wide scale.
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Triguboff’s tallest Zetland apartment tower awarded

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Tasmania isn't exactly well known for being pricey, and for good reason. With just five suburbs recorded with a median house price of above $500,000, according to Australian Property Monitors figures, the top 10 is starkly different from other states and territories.
Here are the 10 most expensive Tasmanian suburbs, by median price.
<ol>
<li>
Battery Point $878,000 
</li>
<li>
Sandy Bay $630,000 
</li>
<li>
Glebe $510,000 
</li>
<li>
Mount Nelson $510,000 
</li>
<li>
West Hobart $510,000 
</li>
<li>
Tranmere $498,000 
</li>
<li>
Coles Bay $483,000 
</li>
<li>
Dynnyrne $460,000 
</li>
<li>
Taroona $456,000 
</li>
<li>
Seven Mile Beach $450,000</li>
</ol>
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Tasmania's 10 priciest housing markets: APM

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It's great to look at property where a tenant is already in situ. You'll get rental income straight away, and it can take a few hassles out of the picture.
There will be no vacancy, no letting fees, and you have a ready-made income generating asset.
However, it's not always a fail safe process. Here are five things you should ask before purchasing the home.
<ol>
<li>
How much is the property being rented for? Finding out what the tenant is paying will quickly help you do your sums – and it will also give you some indication of the current market. However, even if a tenant pays less than you expect and is on a long-term lease, it doesn't necessarily mean the property is a dud, or that you can't get more. If they are nearing the end of their tenancy and paying a lower rate of rent than is appropriate for the area, you may be able to negotiate a higher rate or get a new tenant. A property attracting a low rate of rent may also put off other investors who are doing their own calculations, which might mean there are fewer interested parties to compete with. A relatively high rate of rent should prompt you to ask whether that rent is sustainable, and how long the tenant has been paying it for. If they are on a short lease, with the rent jacked up, you can't always be sure it hasn't been done to make the property seem more attractive. Always question strange-looking figures, particularly when you've compared them to other local rental homes.</li>
<li>
How long has a tenant been in the property for and what is their lease agreement?
If a tenant is on a fixed agreement, in most states <a href="/news/act/purchasing-a-property-with-existing-tenants-what-you-need-to-know">you cannot make them leave and the tenant cannot break the lease just because the property has changed hands</a>. Both can aim to negotiate a break-lease situation on mutually agreeable terms, but there is no obligation for either to accept. When a property is sold, a lease is transferred to the new owner, not voided. Occasionally, special clauses have previously been inserted to allow the void of a lease in the situation of a sale, but this is very uncommon.
A periodic lease, which is sometimes adopted automatically after a fixed term has lapsed (also known as "off lease"), will often see the tenant able to provide a shortened period of notice to vacate. If you're hoping for a long-term renter, this may not be an attractive prospect. However, if you are unhappy with the current tenant, this can provide you an opportunity to re-advertise the home for rental.
Tenants on longer term leases, who have kept the property in decent condition, obviously have a successful history with the home.
New tenants in the property, particularly those not paying market rent, may set off your internal alarm bells. Ask why the landlord decided to bring in a new tenant when there was an intention to sell. Remember, you usually cannot increase the rent on a fixed agreement.
</li>
<li>
Has the landlord agreed to anything with the tenant you need to know about?
If the landlord has promised a tenant a clean-up, or new air conditioning, then in many situations you may be bound to this. You need to ask whether there have been any verbal, or otherwise, agreements about inclusions for the tenant. You also want to check for unusual additions, or extra allowances in the lease.
This may include pets, or the payment of certain bills by the landlord, or even allowing the tenant to sub-let a room.
</li>
<li>
How savvy is the property manager?
Firstly, you are not required to keep the current property manager. However, it makes sense to keep the process as smooth and simple as possible – particularly if you want to keep those long-term tenants.
Having a property manager who is familiar with the tenants, and who has done the previous inspection reports and can provide information about repairs, renovations and arrears, can be a true gift. However, not every property manager will have this knowledge. Remember, if you want to change property managers it is prudent to provide around a month in notice, or 28 days.
</li>
<li>
 How easy would it be to tenant the property if there wasn't a renter in place?
Lastly, it's worth asking yourself whether you could easily get a tenant like this in another property in the area. If you can get a similar home for a better price, with a strong rental market and the ability to run through your own checks and balances, it may be a false economy to go after the one that is already tenanted.
Asking yourself about the strength of the rental market will also protect you should the current tenant vanish or become in arrears. Do not assume that the property will always be tenanted just because someone is renting it at present.
</li>
</ol>
 
 
 
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 Looking to buy a property that already has tenants? Five things to ask

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The property market cycle, from boom to bust, is a simple enough concept to wrap your head around.
However, when someone refers to a buyers’ or sellers’ market, what does this actually mean?
When a market is described as a buyers’ market, this effectively means that the buyer has advantage and can potentially negotiate the vendor down.
Conversely, a sellers’ market is a situation where the seller has the upper hand and can expect the buyer to be paying close to their asking price.
While it may be true, for example, that the market for three bedroom houses in an area may be a sellers’ market while other property types remain a buyers’ market, the two cannot be true for one market at any one time. It is uncommon for one type of stock to be significantly out of line with the area’s general demand; however, it is not unheard of.
If it’s a buyers’ market for one bedroom apartments in a suburb, it can't be simultaneously a sellers’ market for those one bedroom apartments.
In a nutshell, it is to do with the numbers of buyers per property and the sliding scale of demand. Usually, a sellers’ market is a “hot” market.
How to identify a buyers’ market
Vendors are not able to sell quickly – you may see the time on market (or ‘days on market’) start to tick upwards.
Fewer buyers, and/or an increased number of vendors (or stock on the market increases). This may also be evidenced by clearance rates dropping.
Vendor discounting on the rise.
How to identify a sellers’ market
High demand, with strong investor or owner occupier presence looking to buy. Lots of competition for individual properties.
Days on market recede.
Stock on market may, but doesn’t always, reduces.
Views per property may begin to tick up on listings portals.
Vendor discounting decreases as buyers pay closer to, or even above, the asking price.
For those looking to buy in a sellers’ market, expect there to be much competition with the vendor expecting better terms from buyers. There is a higher risk of being gazumped in a hot market, and a higher risk of overpaying.
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What is a ‘buyers’/sellers’ market’? Investment terms explained

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According to a new survey undertaken by Galaxy Research on behalf of Woolworths Insurance, 82% of renovators may be underinsured.
The survey, which looked at 80% of respondents who noted they had renovated, saw 24% spend more than $50,000 on their home improvement.
Of those who renovated, just 18% had a valuer estimate the new worth of the home, potentially leaving the property owners exposed to underinsurance.
Chris Cramond, head of Woolworths Insurance, said that those who renovate need to recalculate their insurance so the new renovations are covered to the correct value.
“If homeowners are unsure how much value a renovation has added to their home, it’s worth getting advice from a qualified valuer who can provide a more accurate assessment of their property. It is also important to add any new valuables to your contents insurance policy so you aren’t left out of pocket in the event of theft, vandalism or damage due to natural causes such as a lightening or storm or burst pipes,” said Cramond.
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Majority leave themselves underinsured after renovation: survey

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Jennifer Duke

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