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Perth’s infill housing development is slowing, and the Property Council of Australia have said that it shows a need for regulatory reform.
According to the Property Council, reform is needed in regards to the introduction of community strata titles, to ease the process.
With infill development compared to the proportion of Perth’s urban fringe development dropping from 2011’s 32% to 28% in 2012, according to the Western Australian Planning Commission’s Urban Growth Monitor, Property Council of Australia executive director Joe Lenzo is calling for changes.
“Perth’s infill development strategy needs a shake-up, otherwise we will never achieve the 47% infill target in Perth’s strategic growth plan, Directions 2031,” said Lenzo.
“One of the main things holding back infill development in Perth is the outdated strata title system and the lack of community titles.”
He said that community titles would encourage larger scale precinct-style infill developments, alike to other Australian states.
“This includes more mixed use development around suburban centres and strategic infrastructure investments like train stations,” he said.
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jduke-EHk3XBmHkn

Perth strata reform called for by Property Council of Australia

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Brookfield Residential Properties’ Link at Portside Wharf has sold out after nine months of being on the market, with more than $13.5 million of apartments purchased.
Since launching to market, 32 one bedroom apartments spanning four levels have sold. Link will be completed by early-2015.
Link is the release in the retail and residential precinct at the Hamilton project Portside Wharf, with 522 square metres of retail space on the ground floor level.
Purchasers were mainly investors and first home buyers, according to Brookfield Residential Properties regional director Lee Butterworth.
"Link presented the perfect opportunity for entry level buyers to secure a spot at Portside Wharf and enjoy the luxury lifestyle that comes with living atop a lively retail precinct," said Butterworth.
"Savvy investors were also quick to move, snapping up the apartments in a matter of months to reap the financial benefits of providing renters a space with restaurants, boutique fashion and entertainment on their doorstep.”
Currently in Portside Wharf’s other projects, four apartments remain in the Promenade building, and the latest development Pinnacle is sitting at 60% sold. <a href="https://www.pinnacleportside.com.au" target="_blank">Pinnacle </a>is currently being built with construction due for early next year.
"Pinnacle is our premier residential development occupying a prime river fronting position with more than 70% of apartments boasting river views that can never be built out,” he said, with the development having reached $80 million in sales and having sold all of the one bedroom apartments.
A penthouse, six river terraces and a number of three bedroom and two bedroom apartments remain. Apartments are priced from $595,000.
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Nine months, $13.5 million worth of apartments: Portside Wharf’s Link sold out

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Melbourne-based developers R. Corporation have recently announced their eighth project. Called The Work, it is a West Brunswick offering spanning four buildings named after popular parks in the area.
One bedroom apartments in <a href="https://www.rcorporation.com.au/apartment/the-york-west-brunswick/" target="_blank">The York</a> will start from $379,500, with two bedrooms from $489,500.
There will also be some penthouses.
The 119 apartments will launch officially to the public on 18th October. When complete, the apartments will be located at 8 Olive York Way, West Brunswick.
Each apartment will include a private terrace or balcony, an individual car park, bike rack, separate storage, timber flooring and Bosch appliances.
Landscape designer Paul Bangay created the external design, providing communal gardens.
Sales manager Christopher Moreira said they have a proud heritage of iconic residential sites in Melbourne, “giving our buyers confidence that we are delivering another quality, well-designed address, in a unique and tightly held locale".
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New West Brunswick development The York, one bed units from $379,000

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In a move reminiscent of the recent HeForShe movement from the UN, popularised by Emma Watson, the Property Council of Australia (PCA) has formulated a group called Male Champions of Change (MCC) to push for gender equality in the property industry.
The Male Champions of Change has been around in Australia since 2010, established by Sex Discrimination Commissioner of the Australian Human Rights Commission Elizabeth Broderick – many years prior to the HeForShe movement. This is the first time the property industry is making a big push to get involved.
The founding Champions included Qantas chief executive and managing director Alan Joyce, ANZ chief executive Mike Smith, CBA chief executive Ian Narev, Telstra chief executive David Thodey and Prime Minister and Cabinet’s Ian Watt.
Former national president of the PCA Carol Schwartz will convene the MCC, which is expected to include senior leaders from development, construction, investment, funds management and agencies.
"All the research tells us that companies with gender diverse leadership teams show greater profitability and higher levels of innovation. It’s a testament to the Male Champions that they demonstrated leadership on this issue and have inspired others to do so," Schwartz said.
"Now it's the property industry's turn to influence this issue and really compete in the war for talent. Harnessing the talents of women has the potential to drive economic growth and prosperity and should be a national priority.”
She pointed to many initiatives that have taken place within the property industry, which will provide a foundation for the Champions’ charter and action plan.
Broderick said that women have been largely responsible for the gains made so far, but said that more is needed.
"Through the MCC strategy, men step up beside women and contribute their influence to accelerate this work and disrupt the status quo,” she said.
"I commend the Property Council for leading the change needed in the property industry, which is one of our country's largest employers.”
She has been seen tweeting and Facebooking her support for #HeForShe.
Current PCA chief executive Ken Morrison said that increasing the number of women in property leadership roles, and increasing the number of women attracted to work in the property industry, is important.
"The formation of the PMCC builds on the Property Council's diversity programs and we are excited to have Carol lead this extremely important group and help it create its foundation charter," Morrison said.
Joint managing director at Investa, Ming Long, was previously noted by Morrison for “her drive in taking the initiative to this point”.
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Male Champions of Change, the property industry’s HeForShe

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A new app is available for tenants in Western Australia, providing them reminders and information about their tenancy.
It also alerts them to if the landlord is breaking the law, explains Commerce Minister Michael Mischin.
“For example, if the date of a rent increase is less than 60 days from the date of written notification of an increase, or less than six months from the last increase, the app will warn users that this is not allowed,” he says.
“Similarly, if a landlord tries to schedule a home open for prospective tenants earlier than 21 days before the end of the tenancy, the app will let the user know they can’t do this. In many cases, tenants agree to unlawfully short notice periods for rent increases or routine inspections because they are unaware of their rights."
{qtube vid:=9SUbYjnvoTE}
The app helps tenants calculate the maximum monthly amount they may have to pay the landlord before moving in.
It gives them the capacity to save photos for the condition report, rental receipts and items that need repair.
“The app will set reminders for paying rent, routine inspections and giving proper notice before moving out,” Mischin says.
“Users can keep track of the constant payment deadlines, appointments and proper notice periods.  Whether you want to quickly find out about rent increases, getting your bond back or what to do with a breach notice, the app provides simple advice about it all.”
It will also note the end date of a periodic or fixed-term tenancy and home open dates and times for prospective buyers and tenants.
“The app not only informs users of their rights but helps them to keep good habits as well.  By reminding tenants to take photos at the start and end of the tenancy, there is less chance of a dispute over the return of the security bond.”
The app is called iRentWA.
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New app for WA tenants tells them if landlord breaks the law

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Over the September quarter, most of Australia’s capital cities recorded flat or falling rents for units and houses, according to the Domain Group Rental Price Series Quarterly Report.
The September quarter’s national median asking rent for units dropped 0.4%. However, this does bring it up 1.9% over the past 12 months.
A similar trend was seen for houses’ median asking rent, down 0.3% over the quarter and up 0.7% over the year.
Darwin’s house median asking rent over the quarter increased from $645 to $660 per week, bucking the trend.
Perth’s house rent dropped from $460 to $450 per week.
House rents across the other capitals were steady.
Meanwhile, units were more split, falling in Sydney, Perth and Canberra. Hobart, Melbourne, Adelaide and Darwin were all stable.
Brisbane saw a jump from $365 to $370.
Senior economist for Domain Group Andrew Wilson said that Brisbane’s unit rents and Darwin’s house rent were the only positive results.
“Unit rents weakened in Sydney over the September quarter, however, the median asking house rent remained steady at the June quarter’s record level of $510 per week despite record levels of investor activity in the local market. Although, we’ve seen a pause in rental growth over the September quarter, demand will continue to put upward pressure on rents in Sydney,” he said.
“In Sydney, yields are holding, asking rents are still strong and there is currently no signs of overshooting market fundamentals.”
Rental growth in Melbourne for houses and suburban units will also be impacted by demand drivers.
The other capitals are expected to move sideways as a best case scenario.
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Most capital cities’ rents falling or flat: Domain Group

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With the cash rate at a record low 2.5% and on hold, RateCity has found that the number of low deposit home loans on offer across Australia has reduced by more than 5% over the past year.
Low deposit home loans, which require savings of 5% of the property value or less for a deposit, account for 69% of the market, down from 73% in 2013.
RateCity product director Peter Arnold said that with the cheapest borrowing on record for over a year, the figures show that some borrowers are overstretching.
“So the banks are starting to take the reins on this matter and some are pulling in the belt before the regulators do,” said Arnold.
He expects the tightening up of lending criteria to continue.
“We see this as a good thing in terms of responsible lending, it means that borrowers, especially first home buyers, need to do the ground work and not borrow beyond their means,” he said.
On current available interest rates, with the average standard variable at 5.37%, a return to historical averages around 7% could see borrowers paying an extra $300 more per month on average and potentially more.
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Low deposit home loans have reduced by 5%

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Light and Co, a new apartment development from The Pradella Group, is currently being marketed through CBRE.
This is the first time properties in the project have been offered to market.
With previews available from this weekend, the Brisbane development at 321 Montague Road, <a href="/news">West End</a> offers one, two and three bedroom apartments from $395,000.
<a href="https://lightandcoapartments.com.au" target="_blank">Light and Co</a>'s name is a nod to the site’s earlier use as the heritage Gas and Light Company, and they have ROTHELOWMAN architects and LAT27 landscapers on board to bring the development into the modern day.
The development will include over 4,500 square metres of private landscaped gardens, plus recreation facilities and two pools. Barbecue facilities and entertainment areas will be created as communal amenities, while some apartments will feature private balconies.
Previews are from 11 October with an official launch in November.
In 2011, CBRE advertised 321 Montague Road as a development site. The 12,420 square metre site came with development approval for 423 apartments with a gross floor area of 35,127 square metres over seven levels and two levels of basement parking. An application for 495 apartments was being assessed.
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Light and Co apartments in Brisbane’s West End set for November launch

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There are eight regional cities expecting capital growth above double digits over the next three years, according to the Australian Housing Outlook 2014-2017 prepared by BIS Shrapnel for QBE.
The cities are located in New South Wales, Victoria and Brisbane.
Here are the markets QBE is tipping to grow:
New South Wales
Newcastle: Total price growth of 15% forecast for 2014/2015 and 2015/2016, accelerating in the latter year as affordability in Sydney becomes more challenging and outward migration picks up. Minimal increases expected in 2016/2017, resulting in total growth of 17% over the three year horizon.
Illawarra: The local rental market is tight, with vacancy rates low. Price growth is expected to be 7% per annum over 2014/2015 and 2015/2016, with rises around 1% in 2016/2017, to a total of 16% over the three years.
Victoria
Ballarat: With growth below that of Geelong and Bendigo over 2013/2014, population growth has remained strong and vacancies tight. Prices are expected to rise by a total of 11% in the three years to 2016/2017.
Bendigo: A strong economic environment and the new $600 million Bendigo hospital is underpinning employment. As a result, 6% growth is forecast over 2014/2-15, although a progressive slowing will then occur. As of June 2017, the three year growth is expected to total 10%.
Queensland
Gold Coast: A total 15% growth is forecast for the three years to 2016/2017. This is on the back of prices down 16% from peak in real terms as of June 2013. A pick up in the construction sector, and infrastructure will help underpin growth.
Sunshine Coast: A total 14% increase is expected over the three year period on the back of the Sunshine Coast University Hospital, and strong intrastate and interstate migration.
Townsville: Vacancy rates increased over the past 12 months, with the median price dropping by 1% due to the impact of fiscal consolidation on jobs. However, conditions are expected to improve to a total 10% growth over the three years.
Cairns: Showing signs of a recovery, vacancy rates have tightened with a lack of supply coming onto the market. The median house price has already seen a 10% gain, and can expect a further 14% over the next three years as the tourism sector strengthens.
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Double digit growth expected for Queensland coastal cities in the next three years

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The Housing Industry Association’s (HIA) latest Portrait of Australian Home Prices notes the number of investors in the market is being overstated by the reliance on home loan data.
Pointing to the Reserve Bank’s Financial Stability Review comments regarding the housing and mortgage market compositions “becoming unbalanced”, the HIA notes that the home loan breakdown points to 52.9% of owner occupiers and 47.1% of investors in the year to July 2014.
However, they say that this may not be painting an accurate picture of the numbers of owner occupier purchases.
“It is important to stress that this breakdown does not account for home purchases made without recourse to lenders,” the report notes.
They also explain that some investors purchasing with cash, and home purchases by those trading down and using their funds are missed out by the home loan radar.
“Consequently, it can be argued that a reliance on home loan data overestimates the proportion of home purchases conducted by investors.”
{mijopolls 50}
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Home loan data overstating investors in the market: HIA

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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