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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

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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jennifer Duke

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