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A three bedroom house in Melbourne's northern suburbs sold for $258,000 at auction this weekend.
<a href="https://www.realestate.com.au/property-house-vic-dallas-118036475" target="_blank">8 Washington Street</a>, Dallas was the most affordable home auctioned in the city this week, according to RP Data.
Sold under instructions from the estate executor by Richard Imbesi of Stockdale and Leggo Glenroy, the house sits on a 580 square metre plot. The land also holds a separate unit and a garden shed.
The home is within walking distance of Upfield railway station.
According to RP Data, the median price for a house in <a href="/news">Dallas</a> was $280,250 in September. The median price reached a peaked of $328,750 for the last 12 months in March.

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jrichardson-uRX5hFdKfN

Dallas house the cheapest sold at Melbourne weekend auctions

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Josh Rowe is the chief executive of realAs, a property price prediction website and application.
According to Rowe, the <a href="https://realas.com/home/" target="_blank">realAs</a> algorithm, which is constantly being refined, produces predictions which fall within 5% of the eventual sales price. Users are able to compare the realAs prediction with the price guide provided by agents and the final sale price.
For buyers who are frustrated with auctions where prices spiral well above the price guide (and their budget), the application provides an alternative price estimate to that provided by real estate agents.
Property Observer spoke to Rowe about underquoting, and how buyers can navigate the available information to make their own price predictions.
Can you explain the problem of underquoting?
Underquoting is where a real estate agent will give a price for a property which is below what the property is likely to sell for. And it's a marketing tactic.
It's designed to bring people to an auction; to either drive the buyer's up in price, who they might not have captured before, or just get a lot of people there, to drive and get sa real kind of excitement there.
If you walk past a retail store or restaurant and see its busy, you'll be more attracted to it. If you walk past an empty restaurant or an empty retail store, you might keep walking.
What are the costs to the buyer?
I think the challenge for buyers is firstly the amount of time they invest in searching for a house.
And there are so many things a buyer looks for.
They'll spend their time out there going for open inspections, going to auctions. They might do building inspections, spending some cash, understanding what's going on.
So for buyers, when the price goes well above what they've been quoted originally, to outside of their price range, they feel frustrated.
And they're angry. I've spoken to buyers in my own sububrb about what happens when they see underquoting - and some have wasted many months, six months, looking for properties, until they've found one that they've worked out - they've almost worked out the difference between what real estate agents really told them, and what the price was likely to be.
How informed do you think buyers really are about underquoting? Is it an industry thing, or are buyers quite savvy about it?
I think people are aware that underquoting exists. But there's no one percentage that real estate agents underquote by. So that's the biggest challenge.
People might take five to 10 years between purchasing houses. So generally when you've been out of the market for that kind of period, whether you're buying for yourself to live in or buying to invest, you've forgotten that you've lost five years of where the market is up to.
When I talk to my friends about how they research the market, they build their own spreadsheets. They almost do the manual version of realAs, I suppose. They build a spreadsheet up, and they go: "Here's a real estate agent. Right. His name is Fred, agency is this, quoted for this, sold for that".
So they manually go through almost weekend by weekend, just tracking the results, til they go, "Right, this is where the market is at, I can start searching".
So they almost build their own algorithm and database themselves. And that's a lot of effort! Why should they have to do that?
Underquoting is only half the issue. Overquoting in private sales equally as frustrating for buyers too. Real estate agents will start with a high price, and generally over a period of time will move their price down in order to attract a buyer, to a price a buyer is willing to pay. Because buyers are the ones who choose what a house is worth, not a seller.
Obviously building up your own database is a quite labour and time intensive thing to do. What are some other steps buyers can take to protect themselves from underquoting or having their time wasted by that kind of practice?
There are many resources out there.
There are more and more websites out there that are making information more transparent. Some are free - you can go to websites like onthehouse.com.au, you can use websites like RP Data, you can see oldlistings.com.au.
Potentially you could trust a real estate agent who wasn't the seller. And buyer's agents generally have a good understanding of where the market's at as well.
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Underquoting: Q&A with realAs' Josh Rowe

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A $1,305,000 house in Bardon was the most expensive home auctioned in Brisbane over the weekend, according to Australian Property Monitors.
The four bedroom contemporary Queenslander at <a href="https://www.realestate.com.au/property-house-qld-bardon-117991119" target="_blank">53 Nestor Avenue</a> is located five kilometres west of the Brisbane CBD and backs onto a reserve.
The tiled living area on the home's lower floor opens onto an entertaining deck, which overlooks the backyard and pool.
The carpeted bedrooms are located upstairs with a separate study and a rumpus room with an attached bathroom. The master bedroom has an en suite, walk in robe and private deck. There is a double garage tucked under the master bedroom at the front of the house, which sits on a 412 square metre plot.
Judi O'Dea and Michael Kleimeyer of Space Property Agents sold the property.
The vendors purchased the home for $1.08 million in November 2011, selling after just three years of ownership.
According to RP Data, <a href="/news">Bardon</a> had a median sale price of $835,000 in September.
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Bardon home the dearest at Brisbane weekend auctions

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A two storey family residence secured the highest sale price of any home auctioned in Adelaide this weekend, according to Australian Property Monitors.
The five bedroom house at <a href="https://www.realestate.com.au/property-house-sa-brighton-118038947" target="_blank">16 King Street</a>, Brighton sold for $1.1 million through Brad Allen and Mark Patterson of Gary J Smith Real Estate Glenelg.
The house has multiple living and entertaining spaces, including a formal lounge, dining rooms, and an open plan north facing living area which opens to the outdoor in ground swimming pool.
There are two bathrooms – an en suite off the master bedroom and a main bathroom.
Sitting on an 896 square metre plot, the home includes a double garage with a cellar. It is located in the Brighton Secondary School zone.
<a href="/news">Brighton</a> is a coastal suburb, between Seacliff and Glenelg. According to RP Data, the area had a median sales price of $585,000 in September.
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Beachside Brighton, Adelaide home tops city's weekend auctions

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The cheapest Sydney home sold at auction this weekend was a $320,000 Maroubra studio apartment, according to Australian Property Monitors.
The 25 square metre corner apartment at <a href="https://www.propertyobserver.com.au/https://liberty.net.au/property/details/418" target="_blank">54/20 Maroubra Road</a> is a far cry ($4.68 million) from the <a href="/expert-insights/buying/darlinghurst-apartment-sells-prior-to-auction-for-5-million">Darlinghurst apartment sold late last week</a>.
It was sold partially furnished by Marc Fitzpatrick and James Larger of Liberty. The listing information describes it as having an "open plan living space, with enough room for a living area, dining area and separate bedding area".
The apartment includes a car space.
According to its listing, tenants were applying to rent the apartment at $370 a week, reflecting a 6% yield. The apartment was sold without tenants.
The sales value of the apartment has increased by $140,000 in the past six years – it was purchased by the vendors in 2008 for $180,000. In the six years prior to 2008, its value increased by just $13,000; it was sold in May 2002 for $157,000.
RP Data recorded the median price of a unit in <a href="/news">Maroubra</a>, 10 kilometres south-east of Sydney, at $727,500 in September.
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Maroubra apartment trades at 6% yield, weekend's cheapest Sydney auction sale

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When it comes to tracking market performance, context is everything.
RP Data senior research analyst Cameron Kusher tweeted out a graph showing the difference between September home price values in the capital cities and their previous peaks.
<a href="https://www.propertyobserver.com.au/https://twitter.com/cmkusher/status/526505823447441409" target="_blank"><img src="/images/2014/10/27/tweet-oct-27-one.jpg" alt=""></a>
While much has been made of recent home value growth, particularly in Melbourne and Sydney, Kusher shows the importance of taking inflation into account.
His graph shows that Melbourne home values, which in September were up 6% from their previous peak in nominal terms, actually fell below their recorded high point when adjusted for inflation.
In Sydney, prices appear 21% higher than ever recorded before, but in real terms are 8.1% above their previous peak.
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Adjusting price movements for inflation: Tweet of the day

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A three bedroom Sydney apartment was sold prior to auction on Thursday night for $5 million.
The price bested all of Sydney's weekend auctions results, according to Australian Property Monitors.
The north-east corner apartment on the 16th floor of the Residence secured $5 million for the vendors. It offers panoramic views over the CBD, Hyde Park and the harbour.
Each of the three bedrooms in the 204 square metre apartment includes walk in robes, while two have attached marble en suites. The living area features a gas fireplace and limestone underfloor heating.
There is also a private sheltered BBQ terrace.
The apartment was auctioned by Simon Polito of Laing Real Estate, who is somewhat of a Residence specialist, having marketed apartments in the building since the off the plan stage, five years ago.
It was purchased by an Australian resident, who can expect to pay $5,236 per quarter in levies. The Residence offers a gym, indoor pool, common lounge and temperature controlled wine room.
The $5 million apartment isn't the most expensive in the complex, which has recently seen $5.7 million sales.
The vendor of apartment 71 purchased it for $4.8 million in November 2012.
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Darlinghurst apartment sells prior to auction for $5 million

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Gerard Smith Design took home three awards at the first ever National Building Design Awards last week.
River House, in the Sunshine Coast, won  National Building Design of the Year, Best Residential Interior Design and Best New Residential Design for homes with a construction cost over $1 million.
According to Smith, the house's natural surroundings were a central focus of the home's design.
"Our objective was to incorporate natural products and complement the natural landscaping on the exterior of the home, which formed the inspiration for the palette of materials and colours used throughout the interior," said Smith.
The house's interiors feature polished concrete, natural stone tiles, hardwood timbers and wool carpet.
"We used these materials in the joinery to work in harmony with the other natural materials in the home and with the natural environment," he said.
The home's design takes full advantage of its waterfront position, with water views available through the living space upon entry. The open living space offers views to the pool, landscaped courtyard or river from every position.
On the upper level there is an expansive master bedroom, complete with walk-in-robe, concealed kitchenette and parents' retreat area.
The ensuite includes a raised bath overlooking the water, while a wraparound balcony also delivers river views.
The the merits of entries in the National Building Design Awards were considered in terms sustainability, success as a design solution, relationship of internal and external spaces, utility, quality and balance of internal and external aesthetics.
Grand Designs host Kevin McCloud, who presented the awards, called River House "a delightful and triumphant design".
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Sunshine Coast's River House wins big at inaugural National Building Design Awards

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A boutique family business has won the 2014 Victorian Master Builder of the Year award in the residential category with a distinctive Elwood home.
Peter and Ann Marie Apostoli's <a href="https://armadillohomes.com.au/" target="_blank">Armadillo Homes</a> designed and built the winning house around an existing structure – a 1920s brick home that had undergone significant destructive renovations.
The house now features three levels where there were once two, each with ocean views.
<img src="/images/2014/10/24/Armadillo%20living%203.jpg" alt="">
Master Builders chief executive Radley de Silva described the site's previous house as a "signature property in a prime location" that "had lost its character and purpose".
Of Armadillo Homes' work, de Silva said: "Their vision was to restore the spirit of the home in a way that honoured its past through a modern and innovative interpretation of a family home and they achieved this brilliantly.
"Armadillo Homes attention to detail was impeccable in restoring this home beyond its original glory."
<img src="/images/2014/10/24/Armadillo%203rd%20level%20side%20view.jpg" alt="">
The house's distinctive copper cladding reflects Armadillo Homes director Peter Apostoli's interest in the durability and sustainability of age old building methods. Stone, stainless steel and recycled timber are also used throughout the home.
Constructed using low maintenance materials which develop with time, the contemporary home has enduring appeal, rather than conforming to the fleeting fashions of the moment.
Internal structures of the existing house were removed to improve flow, light and the relation of internal spaces to the external environment.
 <img src="/images/2014/10/24/Armadillo%20kitchen%20full%20view.jpg" alt="">
Views from all three levels have been enhanced, while lower level of the home now spills out onto the outdoor entertaining and pool area via aluminium stacker doors.
 <img src="/images/2014/10/24/armadillo%20alfresco.jpg" alt="">
Armadillo Homes is a small company, developing a low volume of high quality homes. Peter Apostoli told Property Observer the business delivers bespoke end-to-end services.
"We sit down with a customer and develop their ideas, right through from the conceptional brain storming to the final fitout and even custom furnishings if required," said Apostoli.
Their intention to create custom homes with lasting value is apparent in their choice of materials and construction methods, and sets the Elwood home apart from many new family residences in Melbourne – "foam boxes", Apostoli said, that he prefers not to work on.
After winning the Victorian Master Builder of the Year award, Armadillo Homes will compete at the 2014 National Excellence in Building and Construction Awards on 21 November.
According to Master Builders' de Silva, Armadillo Homes "typify the quality craftsmanship, dedication and passion of Victorian Master Builders".
"As with any art, the true art comes from passion and hard work," said Apostoli.
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Armadillo Homes takes out Victorian Master Builder of the Year award

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If you're planning a knock down rebuild, a subdivision or a redevelopment on your land, you'll probably be faced with a lot of paperwork.

In among all the building contracts, plans, insurance documents and financial paperwork will be your development application (DA) and your application for building approval.

You may need to lodge a DA to your local planning and land authority if you are building a new development or redeveloping your property.

[smartcode_project:default project_id=7758]

The authority will then determine whether your proposed development is appropriate for the area, and whether it breaks any rules or regulations that might be attached to your land, like height restrictions or restrictions on use. They will also assess your application to see if it fits planning requirements.

You aren't alone in the process – often part of your team, whether your architect, designer, engineer or building certifier, can help you with your DA. You will be required to pay a fee when lodging a DA.

Some smaller projects, like garages, small single dwellings and extensions may not require a development approval.

While a DA is associated with the suitability of your project, a building approval is largely associated with the safety of your project.

Most new constructions and significant renovations require building approvals. There are a number of national laws and regulations, including those outlined in the Building Code of Australia and the National Construction Code, which any new build must conform to.

Before construction can begin, you need to get a building approval to ensure the project will be safe and structurally sound.

These are steps to getting a building approval in the ACT (check the relevant processes and regulations for your state or territory before building):

<ol>
<li>Appoint a licensed building surveyor as your certifier.</li>
	<li>Apply for building approval and pay the relevant fees.</li>
	<li>Engage a licensed builder, or apply to become an owner-builder. Remember to use a written contract when hiring a builder, and seek independent legal advice.</li>
	<li>The builder must apply to your building certifier for a building commencement notice by completing the building commencement notice application form.</li>
</ol>
Source: Building in the ACT 2014, ACT government.

Again, there are a number of government fees associated with seeking building approval and you'll have to pay your building certifier as well.
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What's the difference between a building approval and a development approval?

Joel Robinson

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

Jessie Richardson

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