<html><body>
Internet service company Rakuten Linkshare has leased 151.90 square metres of office space at 61 York Street in the Sydney CBD. The building is owned by Nick Manettas - the founder of Sydney waterfront dining venues including Nick's Seafood and Nick's Bar &amp; Grill.
The rent was struck at an initial rent of $625 per square metres per annum over a term of two years.
Ray White Commercial's John Skufris and Anthony Harris negotiated the lease. Mr Skufris noted that the building had been very popular among a wide range of tenants. "We have received good interest from serviced office, insurance, digital marketing and software groups seeking fitted and furnished space or refurbished premises,” he said.
Mr Harris added that four whole floor leasing transactions had been completed in the building.
</body></html>

kjiminez-eaYKfU7qd2

Rakuten Linkshare lease Sydney CBD office space

<html><body>
BMW Group Financial Services has secured nearly 3000 square metres of office space in Salta Properties’ Nexus Corporate estate in Melbourne’s south-east. Under the three year lease, BMW Finance will occupy 2,925 square metres of space, at 2-22McDonald's Lane, Mulgrave.
The lease is valued at $1.3 million. Couriers Please occupies the remainder of the 12,900 square metre site.
Located at the intersection of Monash Freeway and Springvale Roads, Salta’s Nexus Corporate is complementary to BMW Finance’s existing property on Springvale Road, Mulgrave.
Salta Properties Managing Director, Sam Tarascio said: “BMW Finance fills the final large tenancy in a portfolio occupied with top corporate players, joining Couriers Please, GS1, Adidas, ADP, Bristol-Myers-Squibb and Carlisle Homes."
The lease was negotiated by Rob Joyes of Colliers International.
</body></html>

BMW lease Mulgrave site from Dexus

<html><body>
A vacant office building at Noosa Head on the Sunshine Coast has sold for $1.8 million. The 1980s-constructed building, which is on a site of about 1,012 square metres, is located at 24 Lanyana Way, and was purchased by a local investor.
It is understood the purchaser plans to refurbish the building and lease it as individual tenancies up to 850 square metres. It previously had a long standing tenant. John Petralia and David Brinkley of Ray White Commercial Noosa handled the sale on behalf of an interstate investor.
“The property had become run down and a lot of the old internal fit out was left behind by the previous tenant,” said Petralia. “We contacted local charity groups who took away a lot of the items and sold them off and this helped our vendor as the property was now much cleaner.”
</body></html>

Vacant Sunshine Coast office building sells for $1.8 million

<html><body>
An Australian communications company has snared a fully leased office building in the heart of the Varsity Lakes Business Centre on the Gold Coast, outlaying $5.125 million.
The 23 Main Street property attracted 25 enquiries from local, interstate and offshore buyers, before selling to Vaya Pty Ltd.
Mr Greg Watson and Tony Stone of Ray White Commercial negotiated the sale on behalf of Northpoint Holdings No. 3.
"Gross rental yield per annum when fully leased for this building is approximately $549,892, while estimated outgoings are low at approximately $107,278, so the purchase price represents a yield of approximately 8.2%" said Mr Stone. He described the sale as "game changer for the Gold Coast office market" as it had buyers seeking yields of around 10%. Vaya is considering renaming the building with the company name and logo.
The building has about 1,867 square of net lettable area and among the tenants is nursing agency Blue Care.
</body></html>

Fully leased Gold Coast building snapped up

<html><body>
A private investor has acquired at auction a boutique office building in Melbourne’s Cheltenham for $4.65 million.
The two-level building, at 47a Wangara Road, comprises 1,620 square metres of net lettable area and 70 on-site car spaces.
The sale price reflected a yield of 7.6%. Two tenants occupy the building on three year and five year term leases.
CBRE’s Justin Clarkson, Jamus Campbell and Josh Rutman were the selling agents.
“The campaign experienced some 60 enquiries and competitive bidding from multiple bidders, eventuating in a strong result for this well leased property,” Mr Clarkson said.
</body></html>

Boutique Cheltenham office building sells under the hammer

<html><body>
A single-fronted shop in Melbourne's Brighton has set a record price for the suburb, fetching $1.750 million at auction. Four parties competed strongly for the 357 Bay Street shop but eventually a local Brighton family won out.
The sale reflected a tight yield of 3.7%.
Fitzroys senior associate Mark Talbot handled the auction campaign, which saw the property offered for the first time in 60 years.
The property comprises a double-storey retail building of about 150 square metres, on a land area of about 174 square metres. It features retail on the ground floor and a two-bedroom refurbished apartment on the first floor.
</body></html>

Single-fronted Brighton shop fetches suburb record

<html><body>
A combination of rising CBD prices, more capital and better stock levels are expected to draw more buyers to Sydney's North Shore commercial property market and stronger sales activity.
CBRE director of capital markets and institutional investments, Simon Kasprowicz expects 2014 to be "a robust year in terms of transactions, with the area recording strong levels of buyer enquiries as investors look for attractive opportunities in suburban markets.”
The current shortage of stock at all levels and increased buyer interest has also led to yield compression across the market.
“The continuation of strong but scarce sales towards the end of 2013, coupled with higher levels of interest from buyers both established and new, is providing owners the opportunity to exit the market and capitalise on yield compressions", he said.
Mr Kasprowicz said buyers were active across all price ranges, . However, he added that the three distinct buyer groups were those looking for A-Grade assets with long Weighted Average Lease Expiries (WALEs) and strong covenants, value-add opportunities with some leasing risks and/or repositioning opportunities, and residential development or redevelopment opportunities.
He also noted that there was strong overseas interest in the residential and redevelopment market, with those groups looking to convert commercial property to residential – "further adding to the increased demand for office assets through the reduction of available fringe office space.” 
</body></html>

Buyers drawn towards North Sydney commercial property market

<html><body>
The competition among Australia's "big gun" shopping centres is on. Two of the nation's biggest shopping centres - Melbourne's Chadstone and Westfield Bondi Junction in Sydney - broke past the $1 billion turnover barrier this year, while around $3 billion worth of development work is underway across nine of the major centres in Australia.
The findings were in the latest 2014 Shopping Centre News Big Guns report, which revealed that Chadstone, owned by Colonial First State Property Trust and the Gandel Group, has the highest turnover of any centre in the country with a massive $1.4 billion. Not far behind was Westfield Bondi Junction, which recorded a 4.7% lift in sales turnover to $1 billion plus.
Shopping Centre News (SCN) ranks The Big Guns - Australia’s largest shopping centres - in terms of annual turnover, turnover per square meter and specialty shop turnover per square meter.
One of the most significant findings in the report was the jump in redevelopment projects. Shopping Centre News publisher, Michael Lloyd, said that this year nine Big Gun Centres – those with a leasable area of over 50,000 square metres - were under redevelopment compared to only one in 2013.
“The development pipelines are well underway” and "they account for around $3 billion in development costs", he said. The game had changed dramatically in the last five years, he pointed out with the huge global funds like the Canadian Pension Fund CPPI, the Abu Dhabi sovereign fund, the New York based Blackstone Private Equity Fund and the South Korean Pension Fund all taking stakes in some of the country's best centres and providing the funds for redevelopment.
The benefits of that redevelopment work was demonstrated by third and sixth placegetters on the Moving Annual Turnover ladder, said Mr Lloyd "Westfield Carindale (Qld) and Westfield Fountain Gate (Vic), both recently redeveloped, showed increases in annual turnover of 19.2% and 24% respectively - $908.5 million and $872.3 million,” he noted. Excluding the nine centres under redevelopment, the remaining 82 Big Guns shopping centres accounted for retail sales of $40.26 billion in 2013, up 2.7% on 2012.
While noting that since the GFC growth has been at a slower rate, SCN believes that the growth rate has bottomed and it forecasting an increase in turnover of around 5% in 2014.
The best performing centre - based on turnover per square metre of leaseable area which is considered the best measure of performance - was Mirvac’s Broadway shopping centre in Sydney. Its turnover per square metre was $11,506, a 10.7% increase over last year.
Specialty turnover - which only includes retailers with areas of less than 400 square metres - was the highest at Westfield Sydney at $16,482.
“This year we list 91 centres; more than half of them have specialty shop turnovers in excess of $9,000 per square meter, at that level it means a 100 square metre shop turns over an average of around $17,500 a week,” said Mr Lloyd.
A poignant point raised by Mr Lloyd in the report was the lack of response by retailers to the current demands by shoppers.
"Australia has the most sophisticated shopping centre development and management industry in the world”, he said.
“Our regional centres – the Big Guns - are more advanced than anywhere, but many of our retailers are dragging the chain". He believes that the majority of Australian retailers were yet to "rise to the standards of the top international ‘high street’ retailers; service levels are low, fit-out standards, lighting, merchandising and stock variety are lacking".
</body></html>

Competition between 'big gun' shopping centres is on

<html><body>
Australia's largest diversified property group Stockland has swooped up a 19.9% stake in Australand, in what is seen as a prelude to a full takeover bid.
Stockland unveiled the "strategic stake" this morning, announcing it had obtained 115,166,597 securities in Australand at an average price of $3.78. This comprises a 15.7% direct holding and 4.2% indirect interest, it said.
The announcement came as Singapore's CapitaLand also revealed it had sold its remaining 39.1% interest in Australand for about $842 million (S$970 million).
Stockland chief executive Mark Steinert said Australand had a diverse and complementary portfolio of assets, including a quality industrial portfolio and medium density residential projects "that are well aligned with our strategy".
“Over time this holding will enable us to explore strategic opportunities with Australand.”
CapitaLand group chief executive Lim Ming Yan said the decision to divest its remaining stake in Australand was to the "favourable" market conditions and Australand’s share price had performed strongly in the past few months.
“This divestment would allow us to reallocate capital to our core businesses in Singapore and China,” he said.
Stockland's stake is being funded through cash and debt facilities and the transaction is expected to be broadly EPS neutral.
</body></html>

Stockland swoops on Australand stake in possible takeover precursor

<html><body>
Offshore interest in Australia's office market has spilled into the metro market, with total sales hitting a six-year high last year.
Total metro office sales came in a $3.69 billion in 2013 - the highest level since 2007 when it reached $5.14 billion, according to the latest Colliers International first half Metropolitan Office Research &amp; Forecast report. Overseas buyer accounted for a lion's share of that transaction activity, at $1.22 billion.
While the figure was inflated by the $413.19 million sale of 177 Pacific Highway to Singapore's Suntec REIT, the report noted that the influx of offshore capital "does indicate that offshore investors are willing to look beyond the CBD markets for more strategic opportunities".
Sydney metro continued to be at the epicentre of sales activity in 2013, with nearly $2 billion of office stock changing hands, while a 10 % spike in transaction volume saw Melbourne Metro experience a record year at just under $1 billion. With the exception of Adelaide, all markets improved on sales volumes from 2012.
Sales were up 3% in Brisbane and 365% in Perth, albeit from a low base. Highlighted in the report was the yield compression in the Sydney and Melbourne metro markets.
Average A grade yields in Melbourne compressed by 14 basis points to 8.93% in the six months to March, with the Outer East market narrowing by 25 basis points. Sydney yields tightened by 14 basis points to 8.20%.
Yields in Brisbane and West Perth we're flat at 8.50% and 9.2%, respectively.
Colliers associate director of research, Anneke Thompson expect overseas buyers to again feature prominently in the metro market this year, "as players in the hotly contested CBD markets search for more generous yields further afield".
But Colliers managing director of capital markets and investment services, John Marasco, cautioned that not all metropolitan markets would be able to "absorb this demand however, as many have a distinct lack of institutional-grade stock".
“In Sydney, the North Sydney market has already proven itself a drawcard for both local institutional and offshore demand, while in Brisbane the Urban Renewal precinct is and will remain the preferred metro location for institutional investors,” Mr Marasco said.
“In Melbourne, St Kilda Road is one of the few metro markets with stock of sufficient scale and quality to attract CBD-type capital.”
Unlisted retail funds were expected to be one of the first groups with mandates to acquire property in that precinct, he added.
Colliers research also found that private buyers made up the bulk of the buyers across all markets and that institutional investors were only net buyers in Brisbane and Adelaide.
</body></html>

Metro office sales hit six-year high, offshore interest credited

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]

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News