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A new website called Rate My Building, an initiative to allow the actual end-users of buildings to rate and provide their opinions on their functionality, is being widely discussed on Twitter.
Everyone who lives in a home, works in an office or uses buildings in some other way is encouraged to share their thoughts on their building.
There are four options at present, including Rate My House, Rate My Townhouse, Rate My Apartment and Rate My Office, created in partnership with Urban Melbourne.
From architects Atelier Red+Black, the idea is to research the designs of existing buildings to better inform future developments.
Questions include: Are they the right size? Are they functional? What functions do they perform well? How can they be improved?
They also ask you to rank your property on a number of points, and to provide some qualitative information if you want. You are asked to provide a postcode.
So far, their research is <a href="https://www.propertyobserver.com.au/https://twitter.com/Rate_MyBuilding/status/522161505085562880" target="_blank">proving interesting</a>.
<img src="/images/2014/10/20/Picture%2021.png" alt="">
They shared that 20% of respondents find their kitchens difficult to use. Other research has found that over half of respondents find their house sizes too big or small for their needs.
Office blocks see a large number unsure about the availability of health and safety equipment, such as first aid kids and defibrillators.
Atelier Red+Black hope to share the research with architects across the country to assist with evidence based design.
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jduke-EHk3XBmHkn

Rate your home: Tweet of the day

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While Melbourne’s median house price was recording as stabilising in the quarter to the end of September, it seems that a number of suburbs, including those in the middle ring, are outperforming, according to the Real Estate Institute of Victoria (REIV).
In the previous quarter, the median price for Melbourne grew 2.1%, and auction numbers increased, however a moderating effect is now being seen, explains REIV chief executive office Enzo Raimondo.
The median house price was recorded as $649,000, with the median unit price up 1.2% over the period to $503,000.
"But price growth was variable across the city, according to buyer demand," Raimondo says.
“A number of suburbs saw significant increases, especially Melbourne’s middle suburbs.”
These suburbs included:
Coburg – up 16.7%, potentially due to buyers being priced out of nearby Fitzroy North, Northcote and Thornbury
Balwyn – up 16.3%, potentially on the back of its access to desirable schools
Mount Waverley – up 12.5%
Doncaster – up 11.9%
Noble Park – up 14.3%
South Morang – up 11.7%
Box Hill North – up 10.9%
Seaford – up 10.6%
Wantirna South – up 10.3%
Forest Hill – up 9.4%
Craigieburn – up 9.4%
"As buyers have been priced out of the higher priced suburbs, they have looked for more affordable options further out, but with infrastructure such as schools and shopping,” Raimondo says.
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The 11 suburbs outperforming in Melbourne: REIV

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A new individual rating of the 11 funds participating in SQM Research’s Domestic Property Securities Funds Review has revealed positive signs for the Australian real estate investment trust (A-REIT) market.
With eight of the funds receiving a four star or higher rating, SQM Research managing director Louis Christopher said there is a high calibre of funds in this year’s review.
Four funds were upgraded, one was downgraded and a further six remained unchanged from the last review.
<img src="/images/2014/10/20/domesticreview.png" alt="">
Source: SQM Research, Note: Principal Property Securities Fund and Folkestone Maxim A-REIT Securities Fund were last reviewed in August 2012
“Contrary to a recent report from another research house, we see positive things in the A-REIT market,” said Christopher.
He noted that there are a number of active managers consistency outperforming the local A-REIT index, and that the market is not as overvalued as some may be suggesting.
“We still see opportunities for A-REITs over the next 12 months,” he said.
“Those generalist research houses that put equities based analysts in charge of real estate research should be careful in putting forward uninformed opinions," Christopher said.
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Positive signs for the A-REIT market: SQM Research

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The growing issue of affordability has seen former Prime Minister Paul Keating weigh in with his thoughts at MaxCap Group’s Developers and Dealers Forum last week, saying that the current situation cannot persist.
Keating said that there is a huge need for increased housing supply and a financing system to support developers in bringing those properties to fruition.
“We cannot persist with this position we are in where our children cannot afford to house themselves,” Keating said.
“No amount of demand is going to improve affordability without a supply response, which will determine a price equilibrium over time,” he noted.
In fact, the financing for the supply may just be the evolution of superannuation funds, the assets of which may at some point outshine those of the banks. He said that they could eventually be used to fund developments.
“Superannuation funds will have to do things in the spaces traditionally left to banks, such as property development, and we will see a shift in the balance in financing this industry,” he said.
Meanwhile, the banks suggested future partnerships with offshore banks, with specific reference to the Asia Pacific region.
Colin Robertshaw, the Commonwealth Bank of Australia's national head of property finance, business and private banking, said Chinese banks may be the alternative needed when banks hit full capacity.
MaxCap Group chief investment officer Brae Sokolski, said one thing was for certain: something will need to be done.
“There is no doubt that the traditional one-size-fits-all approach to finance is not the optimal solution in the current development environment and has in fact resulted in a shift towards utilising specialist consultants that can bridge the gap between development and finance,” said Sokolski.
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Paul Keating says current housing situation cannot be allowed to persist

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For the first time since July 2011, CommSec’s quarterly economic ranking of the states and territories has shown New South Wales lead the pack.
The ranking takes into account economic growth, retail spending, equipment investment, unemployment, construction work, population growth, housing finance and commencements.
Closely following New South Wales is Western Australia, which has fallen from top spot, and the Northern Territory.
Here’s the ranking:
<ol>
<li>New South Wales 
</li>
<li>Western Australia 
</li>
<li>Northern Territory 
</li>
<li>Victoria 
</li>
<li>Queensland 
</li>
<li>South Australia 
</li>
<li>ACT 
</li>
<li>Tasmania</li>
</ol>
New South Wales recorded top rankings for population growth and dwelling starts, while it scored second for retail trade, business investment and unemployment, third on housing finance and fourth on overall construction work and economic growth.
Western Australia, while still ranking strongly, lost on retail trade, equipment investment and population growth as the mining boom fades. Housing finance, however, was strongest in the state.
While the Northern Territory ranked third, it is the top on five of the indicators, but third on dwelling starts, and even further down the list for population growth and housing finance.
Victoria and Queensland ranked very closely.
In Western Australia, Victoria, New South Wales and the ACT trend housing finance commitments were recorded as above decade averages.
CommSec’s report notes that the simple reason for New South Wales being propelled to the top of the ranks is “housing”. It suggests the state is playing catch up after years of underbuilding, with demand exceeding supply and pushing the vacancy rate down to record lows. In Western Australia, housing was noted to be the crucial ingredient, along with construction, to sustain the economy.
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New South Wales leads the pack: Where the states and territories’ economies rank

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There are still some suburbs with cheap median prices, as you can see from the below list of 13 suburbs where median unit prices are under $200,000.

The statistics, from RP Data, are all from suburbs where sales of 10 or more units have taken place.

Of course, just because it's cheap doesn't mean you should buy it; <a href="/expert-insights/buying/the-40-cheapest-property-markets-are-they-really-a-good-place-to-buy">ensure you do your due diligence</a>.

Here are the 13 suburbs:

<ol>
<li>
<a href="/news">Ballarat Central</a> 
	$175,000 
	 </li>
	<li>
<a href="/news">Doreen</a> 
	$169,000 
	 </li>
	<li>
<a href="/news">Horsham</a> 
	$182,000 
	 </li>
	<li>
<a href="/news">Maryborough</a> 
	$174,000 
	 </li>
	<li>
<a href="/news">Melton South</a> 
	$197,000 
	 </li>
	<li>
<a href="/news">Mildura</a> 
	$163,000 
	 </li>
	<li>
<a href="/news">Moe</a> 
	$140,000 
	 </li>
	<li>
<a href="/news">Sale</a> 
	$180,000 
	 </li>
	<li>
<a href="/news">Traralgon</a> 
	$190,000 
	 </li>
	<li>
<a href="/news">Wangaratta</a> 
	$156,000 
	 </li>
	<li>
<a href="/news">West Wodonga</a> 
	$183,000 
	 </li>
	<li>
<a href="/news">Wodonga</a> 
	$190,000 
	 </li>
	<li>
<a href="/news">Yarrawonga</a> 
	$196,000</li>
</ol>
[smartcode_project:default project_id=4046]

[smartcode_project:default project_id=22803]

Source: RP Data
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Victoria’s 13 cheapest suburbs for units sub-$200,000

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Property flipping is when an investor purchases a property with an intent to sell, or ‘flip it’, quickly to make a profit.
How they go about this varies from investor to investor, but essentially if someone tells you they’re looking to flip a property then it means they’re looking to buy and sell quickly.
You might also see it referred to as house flipping, or as a quick flip.
Usually, to generate a profit, some form of renovation or improvement is involved in flipping properties. A few years ago the term became notorious after investors purchased US properties on the cheap, made a basic cosmetic fix, and then sold on to Australian investors as good yield options at inflated prices.
Not every market can sustain a flip
Property flipping has become increasingly popular, often replacing the mantra of “buy and hold”. However, it doesn’t work in every market. Fast moving “boom time” conditions are far more likely to allow investors to on-sell for a greater price – especially as the market pushes the price up – however, slow moving markets provide little room for making mistakes.
If the market is slow, and fewer buyers are looking, you may be facing a longer waiting period to generate your profit. Similarly, buying and planning on a quick sell that may not eventuate could see you holding a property in a downward market. The same due diligence still applies.
It’s risky business
Observer Mark Armstrong has <a href="/expert-insights/investing/property-flipping-is-risky-business">been plain about property flipping</a> – it offers a good opportunity to make a quick buck, but it comes with a hefty amount of risk.
Due to high in-costs and out-costs of property in Australia, and the likelihood you’ve borrowed to invest, you’ll have to crunch your numbers to make a profit.
To start with, you’ll have the property vacant without income while paying the loan’s interest repayments during the renovation period.
You’ll pay the real estate agent around 2% to 3% in commissions to sell, Armstrong explains, and another 1% on advertising costs.
Not to mention stamp duty when you initially purchased the property.
Your renovation needs to push your purchase price up by those holding costs and buying/selling fees, as well as by a substantial profit to make it worth your time and the funds spent on the renovation itself.
No small feat.
While for some areas the buy/flip strategy can be successful, particularly for those building capital earlier on in their investing years, Armstrong recommends that most consider holding the asset or reconsidering entirely.
“If the holding, transaction and time costs add up to more than the property’s likely sale price, you may need to reconsider whether it’s worthwhile undertaking the project,” he said.
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What is property ‘flipping’? Investment terms explained

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Recently, 116 people were surveyed by Certified Practising Real Estate Agents (CPREA), with 73% saying that they would expect a lower price from a private seller compared to a property listed by an agent.
CPREA chairman Geoff Baldwin said it’s not uncommon for buyers to negotiate even harder when they know that an agent isn’t representing the vendor, resulting in the buyer usually achieving a lower price.
“When confronted with a lower offer from a buyer, private sellers tend to think, well I’m not paying an agent and hence are more likely to accept a lower price,” said Baldwin.
“In fact listing the property with a proven, experienced negotiator can not only justify the agent fees but in many cases will result in a sale price thousands, if not tens of thousands higher than if sold privately,” he said.
He also noted that many property owners can find it difficult to deal directly with buyers, particularly those that are negative about a property, and can struggle to assess the financial capacity of buyers, deal with “subject to sale” offers, write solid contracts, get meaningful deposits and other aspects.
Property Observer readers – what’s your take?
{mijopolls 54} 
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 Do you expect a reduction in price if home is sold without an agent?

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Apartment development Bosco, from EG Funds Management, is a $130 million project with a Mediterranean style that borders on Italianate, but with a contemporary approach.
<a href="https://www.boscofivedock.com.au" target="_blank">Bosco</a>, which translates to ‘woodland’ in Italian, will include 152 one, two and three bedroom apartments and terraces with parking in Five Dock, nine kilometres from Sydney CBD.
Designed by Bates Smart, the apartments will include balcony rooms and views of Canada Bay, with striking sandstone, terracotta and chocolate Roman brick.
Apartment prices start from $600,000 for one bedroom offerings. There are 51 available, with one car space, ranging from 53 to 87 square metres.
The 74 two bedroom offerings, with one car space, will start from $760,000, spanning 70 to 90 square metres.
The largest apartments, 95 square metres to 107 square metres, are the 14 three bedroom two car park units from $1,100,000.
While those looking for the highest end offering could consider the three bedroom terraces, with two car parks, spanning 119 to 137 square metres. These range upwards of $1,350,000.
The VIP launch of the development will be later this month, on October 25. Completion of the development is expected in mid-2017.
Communal facilities include perimeter landscaping, with fig screen building canopies from the surrounding trees, pedestrian pathways and a central courtyard garden.
The development is being marketed through CBRE.
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Not quite Italianate Bosco in Five Dock slated for 2017 completion

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The vacancy rate across the country fell during September to 2.2%, at 64,458 vacancies, according to SQM Research.
Stable vacancies were seen over the past few months, with this being the first notable decrease, which SQM Research’s managing director Louis Christopher notes that it could be due to seasonality. Earlier years have reflected similar decreases.
The current vacancy rates, for September 2014:
Perth: 2.5%
Melbourne: 2.5%
Brisbane: 2.2%
Canberra: 2.1%
Darwin: 1.8%
Sydney: 1.7%
Adelaide: 1.5%
Hobart: 1.4%
All capitals fell over September, excluding Darwin which has seen a 1% increase over the year and a 0.3% increase over the month.
Perth, where there has been a substantial softening of 1% over the year as well, saw a 0.1% reduction over the month.
The surprising result is Hobart, where SQM Research notes that a recovery appears to be in progress. The capital recorded the largest yearly decrease – dropping 0.5% from 1.9% in September 2013. Over the month it fell a further 0.2%.
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Rental listings drop, yet may be seasonal result: SQM Research

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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