The Melbourne apartment developer Tim Gurner has listed the sub-penthouse in his South Melbourne project, Albert Place Residences, amid significant interest in penthouse offerings across Melbourne.

“I’ve never seen so much demand for luxury penthouse product," Gurner said.

"We sold out of our penthouses at Victoria &amp; Vine and St Moritz months ago but this luxury three-bedroom product is still easily the most enquired about apartment type across our portfolio."

It comes with $4.4 million to $4.8 million price hopes.

"The&nbsp;space that was a personal creative vision project for&nbsp;Aimee Gurner&nbsp;and I .... a spectacular space with no expense spared," he said.

It has 180-degree views over Albert Park Lake, Port Phillip Bay and back to the city.&nbsp;

<a href="/news/vic/why-tim-gurner-chose-collingwoods-smith-street-the-worlds-coolest-street">Read more:&nbsp;Why Tim Gurner chose Collingwood's Smith Street, the world's coolest street</a>

<img alt="" data-entity-type="" data-entity-uuid="" height="899" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gurner_albert_place_2.jpg" width="1200" />

The investment apartment at 1405/7 Bowen Crescent had been leased out for $260,000 a year, or $5000 a week, last year after the projects' construction completion by Crema.&nbsp;

The building was designed by Elenberg Fraser.

The tenant was introduced by Burton’s agent Taylor Dow.

Gurner has now listed the penthouse amid the increasing demand for luxury penthouses.

Local agent Michael Paproth is running the sales marketing campaign.

“At present, there are a lot of high-net-worth Australians repatriating from overseas, particularly from Asia, who have become accustomed to apartment living and are on the hunt for homes exactly like this,” Paproth said.

<img alt="" data-entity-type="" data-entity-uuid="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gurner_albert_place_3.jpg" width="1200" />

The 300 sqm apartment was modelled on the style of Beverly Hills mansions.

“Most of the furniture I had custom commissioned, and some of the art is from my own private collection,” Gurner advised.

“We really had no intention of leasing the penthouse. But after an interested party was introduced to us, we quickly negotiated a deal.

At that time Gurner had intended to keep the sub-penthouse for events with private clients.

It features $400,000 worth of arabascato marble in the kitchen, bathroom and joinery, plus polished plaster walls, ebony herringbone timber flooring, mirrored columns, and a state-of-the-art audio-video system.

The home offered a commercial kitchen with Gaggenau appliances, a 4m island bench and a separate scullery, and a main bedroom with dual walk-in wardrobes and a swish ensuite.

Bathroom features and fittings included a freestanding stone bathtub, a double rain shower, marble drawers and flooring, and a $40,000 SensoWash toilet.

The entry hallway has marble-slab flooring and walls.

Albert Place Residences offers private club facilities, including a bar, a library and a lounge, a 2500-bottle wine cellar and a Turkish bathhouse featuring a lap pool, a sunken spa and a sauna.

The development contains 140 apartments, which sold for between $475,000 and $21 million.&nbsp;

Apartment 1405/7 Bowen Crescent in the Albert Place Residences has 180-degree views over Albert Park Lake

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Tim Gurner to capitalise on booming penthouse market, lists Albert Place Residences sub-penthouse 

NSW first-home buyers had until July 31 to save $31,000 on stamp duty fees for new homes in New South Wales, with a temporary extension of stamp duty relief ending.

The measure allowed first-home buyers to avoid paying stamp duty on new homes worth up to $800,000.

From August 1, the property price cap for a stamp duty exemption will drop back from $800,000 to $650,000.

<a href="/developments/sydney-nsw?source_news_article_id=106698&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_13.jpg" width="1200" /></a>

The purchase price cut-off for concessions will also drop from $1 million to $800,000.

Further information can be found at: First Home Buyer Assistance Scheme - https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme.

The biggest benefit was only available from the 1 August 2020 to 31 July 2021 during which the NSW Government increased the transfer stamp duty thresholds for the purchase of new homes and vacant land.

And from the 1st of August 2021, the thresholds revert to the previous parameters in place prior to 1 August 2020.

Buying a first home becomes harder from August 1 in NSW

NSW first home buyer stamp duty incentives slip backwards from August 1

The video marketing for the One Barangaroo penthouse has gone live.

The 8101 apartment video creators advise "the residence is a milestone in Australian, and indeed global, real estate."

It's been listed by Knight Frank.

The penthouse spans two full floors with over 800 square metres space.

At 245 metres above sea level its offers multiple entertaining areas with over 6-metre high floor to ceiling windows.

<img alt="" data-entity-type="" data-entity-uuid="" height="704" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_4.jpg" width="1200" />

There are five bedrooms, all with ensuite bathrooms.

The master suite comes with large walk in robes, twin rain shower and steam room, separate office, private plunge pool, cinema room, gym, and over 50sqm of open air space across three protected balconies.&nbsp;

A feature staircase connects the two floors, as does a private internal lift.

The interiors – designed by New York outfit Meyer Davis – take advantage of the lofty, light-filled spaces and feature light European oak flooring throughout, accompanied by plush carpets in the bedrooms.&nbsp;

The penthouse boasts private plunge pool, the only residence in the building.

<img alt="" data-entity-type="" data-entity-uuid="" height="643" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_pool.jpg" width="1200" />

There is also access to the resident’s pool on level six, hotel pool on level five, and spa designed by Blainey North.

This exclusive sale is being managed by Knight Frank. The four minute video was produced by Golden Eye Media.

James Packer’s $60 million purchase ranks as the building's priciest deal, secured in 2017 for a two-storey apartment.

<img alt="" data-entity-type="" data-entity-uuid="" height="654" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/crown_baragaroo_3.jpg" width="1200" />

It was 2019 when there was a deal next door, worth more than $140 million for the most expensive residence in Australia, when the top three floors of Lendlease’s One Sydney Harbour at Barangaroo South were sold off the plan.

The sale includes the two-storey penthouse atop the Renzo Piano-designed building and a sub-penthouse directly below.

Completion is expected in late 2023.

The Boyd penthouse in the ANZ tower in the Sydney CBD recently sold for $60 million.

There has been no price guide given on the One Barangaroo penthouse.

But Knight Frank's latest Prime Global Forecast 2021/2022 shows that globally, luxury residential prices are forecast to rise faster than envisaged, and that Sydney is the world’s leading city for Knight Frank’s 2021 prime forecast, with luxury prices in the city expected to rise 10% over the next year. 
&nbsp; 
Lockdowns and the COVID pandemic haven’t yet had a negative impact on Sydney’s luxury property market – in fact, they are carrying it from strength to strength, with wealthy Aussies purchasing luxury properties domestically instead of overseas. 
&nbsp; 
The report shows Sydney is the leading global city for prime price forecast in 2021, with luxury prices expected to rise in Sydney by 10% over the year.

Sydney will continue its reign in the top spot in 2022, when, together with London, both cities are forecast to see prime prices accelerate 7% year-on-year.

The first quarter of 2021 saw 1,429 prime sales recorded in Sydney – the highest quarterly figure on record for the city. Despite recent lockdowns, momentum is being maintained.

Spanning two full floors and at over 800 square metres, the penthouse comes with over 6-metre high floor to ceiling windows

One Barangaroo penthouse video marketing gives inside look

With lockdown restrictions announced in South Australia, the tightening across NSW and extending in Victoria, Australia’s home loan lenders have rolled out extra support to affected customers.

The country’s largest bank, CBA, has confirmed a foreclosure moratorium, which means the bank won’t evict a customer in arrears until at least February 2022.

The CBA offers an automatic two-month mortgage deferral for customers in hardest hit locations and industries and others severely impacted by the lockdowns.

"We believe extending our freeze on any foreclosures will give those customers who are again impacted by COVID-19 more time to get back on their feet, and reassurance that they can remain in their home this Christmas and into next year," CBA chief Matt Comyn said.

"This is a critical time for all of us to pull together and support the communities most heavily impacted by the latest COVID-19 outbreak and the resulting lockdowns."

Westpac offers up to three months mortgage deferral plus credit card and personal loan deferrals, determined on a case-by-case basis.

Other lenders have indicated borrowers will need to show their circumstances have changed to get a deferral.

But borrowers taking out deferral options should be aware of the long-term implications.

RateCity.com.au analysis shows a two-month deferral on a $500,000 loan with 25 years remaining could cost an extra $1,712 over the life of the loan, paying an extra $21 a month after the deferral ends. If, after the deferral, the person instead keeps their repayments the same and extends out their loan term it could cost an extra $4,408 over the life of the loan.

RateCity.com.au research director, Sally Tindall, said "a mortgage deferral is by no means free.”

APRA, the prudential regulator, has advised newly-deferred home loans won't be treated as 'in arrears' meaning it will not affect banks' credit quality nor the borrowers credit quality.

Deferrals peaked at 11% of total mortgage books in July last year, reducing by March this year to less than 1%.



RateCity.com.au research director, Sally Tindall warned as helpful as deferrals can be to get through a tight spot, "a mortgage deferral is by no means free.”

Home loan mortgage deferrals pick up as pandemic lockdowns get extended

Rental markets had tightened noticeably in most parts of the country compared with a year earlier, the latest minutes of the Reserve Bank advised.

"Rents for units in Melbourne had been the main exception, though even there the pace of decline in rents had eased over prior months," it advised.

Members discussed the continuing strength in established housing markets at the July meeting.

Nationally, housing prices had increased by more than 10 per cent in the first half of the year; a similar pace of growth had been recorded in other advanced economies, it advised.

"Conditions were strong in both capital cities and regional areas, and across different price segments. 

"Over the first half of the year, there had been increases in prices of units alongside further rises in prices of houses. 

"Demand over the preceding year had been led by owner-occupiers, although investors had become more active in recent months. 

"As had been the case for some time, the flow of new listings for sale remained similar to pre-pandemic levels but total listings were much lower, implying that dwellings were being sold at a rapid pace. 

"Rental markets had also tightened noticeably in most parts of the country compared with a year earlier; rents for units in Melbourne had been the main exception, though even there the pace of decline in rents had eased over prior months."

The minutes noted demand for housing finance had strengthened further with stronger growth in credit to both owner-occupiers and investors. 

The pace of decline in rents had eased over prior months in Melbourne, the July RBA minutes advised

Rental apartment markets tightening: RBA minutes

Removing stamp duty would increase housing mobility, and lead to more efficient use of the nation’s housing stock, according to research by the National Housing Finance and Investment Corporation (NHFIC).

Families across all states and territories, except the ACT, are paying substantially more stamp duty when they move currently than they were 20 years ago, it noted.

Victoria now has Australia’s largest effective rate of transfer duty on a median property at around 5.4% (around $45,000), compared to 4.2% (around $12,000) back in 2002.

The report dubbed stamp duty an inefficient tax that impacts housing market mobility.

A household that bought a Sydney median priced house four times over the past 20 years would have paid more than 10 times the amount of duty than a household making only one purchase at the start of this period, it pointed out.

“Households that are considering downsizing and upsizing, or just seeking more space when they are working at home during COVID-19 wouldn't be penalised under a broad-based land tax compared with the current stamp duty arrangements across most states,” NHFIC CEO Nathan Dal Bon said .

“Encouraging more household mobility through reductions in stamp duty leads to more efficient use of the housing stock which means people can better ‘right-size’ their own housing arrangements in line with their individual preferences,” Dal Bon added.

The aim of transitioning from stamp duty to land tax is not to increase revenue per se, and the paper demonstrates that the transition can be achieved in a revenue neutral way.

"The typical household across all states (except the ACT) would be better off paying land tax on a median property than transfer duty," it suggested, noting a household in NSW would have to pay a broad-based land tax for more than 14 years to be worse off, which is greater than the 12 year average holding period of a property.

It noted the challenge of a revenue neutral swap between transfer duty and a broad-based land tax, under a slow house price growth scenario, would require approximately three times the amount of revenue as a faster transition ($94bn over a 20-year transition, compared with $32bn under a 5-year transition).

The National Housing Finance and Investment Corporation (NHFIC) commenced operations in 2018,  a corporate Commonwealth entity, part of the Treasury portfolio of agencies. 

The responsible Minister is the Minister for Housing, Michael Sukkar.


Removing stamp duty will have the benefit of reducing barriers to home ownership, according to the report of the National Housing Finance and Investment Corporation

Federal Treasury entity gets behind push to scrap state government stamp duty

Construction needs to keep working, urged David Cremona, the national director of construction at Meriton, on Sydney radio today.

He advised Australia's biggest builder Meriton have around 300 staff plus 3500 workers caught up in the construction industry shutdown that closed sites from Monday morning across Sydney.

The NSW government’s announcement over the weekend there would be a two week building shutdown.

Harry Triguboff, who has a dozen apartment buildings under construction, said that the building industry had been keeping the economy buoyant.

"If you stop that you kill everything. By us building you keep everything going, including suppliers,” he said.

“It’s terrible, because if you go along the freeways the only traffic is trucks and tradies," he told The Australian.

“All we are doing is counting how many people have it,” he said.

“There is a short supply of accommodation in apartments. We have dropped the numbers we are building by half,” Triguboff said.

Cremona told 2GB's Ray Hadley that he'd been constructing faster than approvals were being processed under the Berejiklian government.

He said there would be a $750 million direct weekly hit to the NSW economy, plus an indirect $2 billion hit through the supply chain if the fortnight shutdown continued.

"We have means to manage the outbreak.... if we want this V-shaped re-bound, the NSW Government needs to take housing industry seriously," Cremona said.

"It has been an absolute joke ever since Berejiklian has been incharge approvals have been coming down... I'm building quicker than my town planners are getting approvals," Cremorna said 
 
The development lobby group Urban Taskforce said the close-down of construction in NSW was an "overreach" that will cost the economy billions of dollars.

The NSW premier Gladys Berejiklian has so far withstood the backlash with word leaking that the covid cabinet was split with opposition to the move from Treasurer Dominic Perrottet, the Health Minister Brad Hazzard, and Jobs Minister Stuart Ayres.

“Having the risk of thousands of people being mobile at one time, many of them coming from communities that have had cases, was too big a risk,” Ms Berejiklian told a press conference on Monday.

“The Treasurer and key senior public servants are meeting with the construction sector daily to make sure that when they go back to work there are safe places,” she said. 

“We can’t have people, who may not have symptoms, visiting multiple worksites, visiting sites with hundreds of workers and spreading the disease.”

Multiplex will have about 2000 people out of work over the next fortnight.

BIS Oxford Economics estimated about 280,000 construction sector workers will be directly impacted, with more indirect layoffs in the transport, manufacturing and wholesale sectors.

Melbourne’s second wave of Covid-19 saw onsite workers for major construction sites scaled back to 25 per cent of normal workforce.

Smaller projects were allowed to proceed with up to five people per site, while large-scale government projects had their workers onsite halved.


BIS Oxford Economics estimated about 280,000 construction sector workers will be directly impacted


Sydney apartment construction needs to keep working: David Cremona, Meriton national construction director

Box Hill is set to become an even bigger city given it will be getting the largest of the stations in the Suburban Rail Loop station precinct initiative.

There will be six stations including Clayton, Monash, Glen Waverley, Burwood and  Southland in Cheltenham.

Stage One of the loop, which will run 26km from Cheltenham to Box Hill, is set to begin construction next year.

High density housing towers are expected in what will be mini-metropolises that cluster jobs, housing and education.

The Herald Sun reported more detailed station footprint designs have emerged, showing where existing properties will be acquired for the project’s underground hubs.

But the state government won't provide details on height limits proposed for each of the station areas until an investment case is released.

The Box Hill precinct is already classified as a metropolitan activity centre and is set to see an expansive overlay given it will be the largest underground station precinct, due to its length of 350 metres as its crosses Whitehorse Road.

Box Hill is set to become an even bigger city given it will be getting the largest of the stations in the Suburban Rail Loop station precinct initiative.

The Herald Sun advised Glen Waverley is the likely to have a similar density and height limit around the station, with some towers already 15-storeys.

There is a push for the Moorabbin airport precinct to be included in the suburban rail loop which will have 26km of tunnels.

Recently Opposition transport infrastructure spokesman David Davis said the government should be looking at key locations for stations like the Moorabbin Airport, and "not ridden roughshod over Heatherton residents forcing train stabling into long-protected green-wedge land.”

There are six suburban rail loop station precincts – Box Hill, Southland in Cheltenham, Clayton, Monash, Glen Waverley and Burwood - that will possibly see high density housing towers



Mini-metropolises mooted for new Melbourne rail loop

A local developer has purchased an Ivanhoe site for $3,557,000.

The property which is located on a corner land parcel of 1,350 sq m is set to be turned into a luxury residential project.

Located at 20 Lower Heidelberg Road, the campaign generated 5 offers to Julian Heatherich and Benson Zhou of Savills Australia.

&quot;It was a residential developer who was willing to pay top dollar,&quot; Heatherich said.

&ldquo;With the tightly held nature of Ivanhoe and the strength of the residential market, developers moved aggressively to add this site to their pipelines, with limited sites being offered in the inner northeast,&rdquo; Heatherich noted.

[smartcode_project:default project_id=22308 project_image_fid=75031]

The vendor was prepared to offer up to 18 months delayed settlement terms.

There had been interest from owner occupiers for the house, along with interest from child care groups from the site with frontage of 72 metres to Lower Heidelberg and Waterdale Roads.

It came with a flexible General Residential Zone 1 zoning.

Residential construction activity in the suburb has included work on Valia, at 59 Upper Heidelberg Road, with prices starting from $1,220,000

The 14 residences have a late 2022 completion date.

Located at 20 Lower Heidelberg Road, the campaign generated five offers

Residential developer snares Ivanhoe project site

A local builder has purchased a 6,849sq m townhouse site in Beaconsfield, with plans for a two-stage townhouse project.

Located at 13-15 Mahon Avenue, the first stage permit is approved for 11 townhouses.

The second stage featuring six further townhouses.&nbsp;

The property sold on a unit rate of $147,059 at $2.5 million.

The deal was negotiated by Benson Zhou and Julian Heatherich of Savills Australia.

Zhou said that buoyancy in the residential market in Melbourne&rsquo;s outer suburbs had resulted in developers being willing to acquire sites at &quot;more bullish rates.&quot;

[smartcode_project:default project_id=5559 project_image_fid=168395]

It had previously sold at $2.09 million in 2017 and then marketed briefly as Azalea Garden. 
&nbsp; 
It is just a short walk from Beaconsfield&rsquo;s core retail precinct which includes a Woolworths supermarket.

The site is also close to Beaconsfield train station that services Melbourne&#39;s south east growth corridor.

The nearby suburb of Berwick is seeing significant housing construction headlined by Alira, the nearby master-planned housing estate at 322-340 Centre Road, Berwick.

With pricing from $530,960, Alira is a collection of townhomes, and house and land, popular with first home buyers, growing families or downsizing families. 
&nbsp;

A local builder has purchased a 6,849sq m Beaconsfield, Victoria townhouse project site

Beaconsfield townhouse project site sold at bullish price

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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]

Jonathan Chancellor

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