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Strong bidding from residential homeowners, hostel operators and developers saw a former hostel in Melbourne's Fitzroy sell under the hammer for $1.704 million.  
The expansive Victorian terrace home, features six-bedrooms, three-bathrooms and offered 330 square metres of space on 285 square metres of land. 
For more than 20 years, the 66 George Street property was home to AHL George Wright Shelter. 
It was sold with vacant possession to a local private investor. 
Colliers International’s Ted Dwyer and Andrew Ryan were the selling agents. 
“The property provides an opportunity for someone to turn it into a lavish residential home, but also to continue its use as a hostel or other form of accommodation, or another form of residential development (STCA),” said Mr Ryan.
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Former Fitzroy hostel sells under the hammer for $1.704 million

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Several offshore parties are believed to be circling one of Australia's most prestigious hotels - the iconic Sofitel Wentworth - barely a week into the marketing of the five star hotel.  
Property Observer understand that a number of parties from China, Europe, the US and Singapore are already believed to be having a hard look at the hotel -  which has become famous for hosting Liberal Party gatherings on election night.
It is understood that the final buyer is likely to come from offshore and that the selling price will be about $200 million. 
LaSalle Investment Management acquired the hotel for $130 million in 2010, on behalf of the LaSalle Asia Opportunity Fund III.
Expressions of interest for the 436-room hotel close on 21 March through Jones Lang LaSalle's Hotels &amp; Hospitality Group and McVay Real Estate.
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Numerous offshore parties circling the iconic five star Sofitel Wentworth hotel

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Melbourne-based Impact Investment Group has outlaid $32 million to acquire the global headquarters of Roy Morgan Research in Melbourne's CBD.
The fully leased building, at 401 Collins Street, was sold on an initial net yield of 7.81%.
Roy Morgan Research occupies the entire building and will enter into a 10 year lease with Impact Investment Group (IIG) with two five year options.
Located in the heart of the Melbourne's CBD banking and finance district, the 11-storey office building was built in 1937 for the Trustees Executors &amp; Agency and underwent significant improvements in 2007.
IIG said it acquired the building with a strategy to dramatically improve the overall energy performance of the property, which currently has a NABERS Rating of 1.5. It is targeting a NABERS rating of 4 or greater.
The asset will be held in a single property unlisted investment trust.
"The trust aims to provide sophisticated and wholesale investors the opportunity to benefit from the secure, long term income stream and the potential for capital growth, while benefitting from the environmental and social initiatives of IIG", said the group.
IIG’s sophisticated and wholesale investors are forecast to receive quarterly income returns of about 9% a year.
Since its inception in early 2013, IIG has arranged and co-invested in four investment syndicates. The 401 Collins property is the fifth for IIG, which is owned by Chris Lock - chief executive - and Small Giants, the family office of Daniel Almagor and Berry Liberman.
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Impact Investment Group purchases Melbourne CBD office building for $32 million

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A stronger presence from domestic purchasers, yield compression, improved leasing conditions driving demand and investors moving up the risk curve to access stock are expected to be the key forces driving higher investment in Australia's CBD office market in 2014.
Colliers International’s latest CBD Office Research &amp; Forecast Report for the first half of 2014 showed that more than $8.1 billion worth of CBD office buildings changed hands in 2013 - 16% above the previous year and the highest level of investment since 2007. 
Australian and offshore institutions dominated buying activity and China emerged as the country with the strongest growth, purchasing $580 million of CBD office property in 2013, said the report. 
"Growth in Chinese investment is expected to continue to define the market in 2014," said John Marasco, Colliers International managing director of capital markets and investment services.
"To date, most of the activity has been private Chinese investors purchasing secondary CBD office buildings however this started to change at the end of the year with the sale of Centennial Plaza to China’s sovereign wealth fund China Investment Corporation." 
"We are now seeing growth in institutions from China purchasing offices for investment, as opposed to development."
While offshore interest is expected to remain strong Colliers believes 2014 will be the year that domestic purchasers make their presence known.  "We are already seeing local demand competing, and in some cases winning, against the force of the offshore investors and this is set to continue further in the year ahead," said Mr Marasco. 
"On the back of increased activity by A-REITs, superannuation funds and privates, we will start to see the pendulum swing towards the locals in 2014."
Colliers is forecasting yields to tighten further this year on the back of increased competition for assets and the weight of money. 
Prime CBD office yields currently range from 6.75% in Melbourne CBD to 7.94% in Perth CBD. By the end of this year, Colliers is tipping yields will become firm in all markets with the exception of the Perth CBD.
Improved leasing conditions are also likely to drive demand for CBD office assets, noted the report. 
“The ‘disconnect’ between a strong investment market and a weak leasing market has been a key feature of Australian CBD office markets over the past two years,” said Nerida Conisbee, Colliers national director of research. “We now consider that incentives have peaked in most CBDs and prime net effective rental growth is likely to occur in all markets with the exception of Brisbane". 
Mr Marasco said that almost all indicators pointed towards increases in the amount of funds targeting Australian commercial property in 2014.
“Australia continues to be an attractive investment destination and provided that stock continues to come to market, total investment volumes should be greater in 2014 than they were in 2013,” he added.
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Chinese investment growth will continue to define commercial market: Colliers International

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Australian CBD office markets are entering into a hiatus period this year, with supply levels forecast to hit their lowest point in 13 years.
Despite strong supply in Melbourne and Sydney, Knight Frank's latest Australian CBD Research showed that stock levels across the nation's capital cities slumped 29% to 463,000 square metres of new and refurbished stock in 2013. That compared to 649,000 square metres in 2012.
<img src="/images/stories/2014/02/25/chart_of_tghe_week_feb_25_one.png" width="470" height="297" alt="chart_of_tghe_week_feb_25_one">
Source: Knight Frank
Supply levels are expected to shrink further this year, with the global real estate firm forecasting supply to come in at only 241,000 square metres - a figure it says would be the lowest level of gross supply additions since 2001 when nearly 200,000 square metres was completed.
"Following relatively strong completion activity over the past two years, this hiatus in new construction completions over the next 12 months comes at a welcome time for the markets, especially those with an overhang of backfill and sub-lease space waiting to be absorbed," said Knight Frank national director of research, Matt Whitby.
This year, he said, the only major high profile additions to stock would occur in Melbourne, with 150 Collins Street (Westpac committed) and 720 Bourke Street (Medibank committed) slated for completion. A handful of smaller new builds and refurbishments would also be completed in Sydney, Perth and Adelaide, he added.
However, Knight Frank is projecting a rebound of supply in 2015. It is tipping completions to total about 562,000 square metres and includes projects that commenced without tenant pre-commitments such as 180 Ann Street, Brisbane (Daisho) and 20 Martin Place, Sydney (Pembroke).
"Notwithstanding this, Brisbane and Canberra will be devoid of any major supply until late 2015," said Mr Whitby.
He also made a point of saying that while new supply additions were expected to be relatively lower, backfill space would continue to be a major factor this year and increasingly so during 2015.
Another key theme cited in the report was last year's unprecedented level of site sales occurring in and adjacent to the CBD markets, mostly in Melbourne and Sydney. That demand, said Mr Whitby, was driven predominately by Asian developers, as the "highest and best use" of sites was, and continues to be, slanted towards residential rather than commercial use.
"This trend will see an increasing amount of commercial stock withdrawn due to residential and hotel conversions, alongside a large number of obsolete stocks being refurbished and modernised in an effort to attract tenants."
He described that as a "real game changer for markets", especially in Sydney and Melbourne over 2014/15, "as the net supply figures (i.e. after withdrawals) will be significantly lower than the headline numbers, which will help cushion the market in the face of a soft leasing market."
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Australian CBD office supply forecast to hit 13 year low

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<img src="/images/stories/2014/02/25/DTZ_logog.jpg" width="200" height="66" alt="DTZ_logog" style="display: block; margin-left: auto; margin-right: auto;">
Name: Adam Jones<img style="max-width: 480px; float: right;" src="/images/stories/2014/02/25/jones-feb-25-profile.png" width="125" height="150" alt="jones-feb-25-profile">
Position: Director of CBD office leasing, landlord and institutional investor services

Company: DTZ

Office Location: Melbourne
 
How long have you been in the industry?

I have been in the industry since 2000, starting off in retail leasing then a short stint in corporate services and then specialising in CBD leasing.
What’s happening in the area you specialise in?
Very interesting times in that the Melbourne CBD vacancy rate has declined in the last six months, which should see incentives stabilise or reduce marginally from the levels they were at last year.
Unlike the past five years which has seen numerous developments come on stream which is well above historical averages, only two new developments, namely Medibank’s new headquarters at 720 Bourke Street and Westpac’s new office at 150 Collins Stree,t are due to be completed this year. Landlords by the end of the year should start to see some semblance of rental stability or growth.
Describe the most interesting property you have leased?
717 Bourke Street which was a brand new 38,000 square metre development in Docklands was interesting from the point of view of the technology involved in the design. 500 Collins Street was also unique in that the building was comprehensively upgraded with tenants in situ with sustainability as its cornerstone. It was the first refurbishment project in Australia to receive a five star Green Star design rating from the Green Building Council of Australia.
What are the ingredients to being successful in your job?
Remaining positive and patient as some deals can take an extremely long time to finalise. The old cliché about thinking outside the square is also important as Landlords are seeking people who can add value rather than act as a facilitator – you need to be able to provide a point of difference.
What aspects of your role do you enjoy the most?
I enjoy coming up with strategies for landlord’s as to how best to market and differentiate their asset in what is a competitive environment. It is also enjoyable coming up with different methods of identifying who is the best fit for a particular space, particularly doing this before our competitors.
Where would you invest a spare $750,000?
If I was a landlord I would look to upgrade my end of trip facilities, as all tenants these days have a strong focus on this. I would also look to spec a fitout, particularly if the space is clear and has been sitting vacant for an extended period. From a personal viewpoint a little thing called a mortgage and put some away for school fees for when my kids get older.
Which football team do you support?
Hawthorn. Very passionately. I am looking forward to back to back flags!
What’s your favourite app or techno gadget?
My Blackberry

How do you use social media?

Twitter for business snapshots/articles and <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/adam-jones/7a/888/740" target="_blank">LinkedIn</a> to stay across who is moving and who key decision makers within various companies are.
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In profile: DTZ's director of CBD office leasing, landlord and institutional investor services, Adam Jones

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A development site in Melbourne's western industrial heartland of Altona has been slated for auction, with price expectations of more than $800,000.
The 5,132 square metre industrial site is located, at 8 Kearsley Court, is only minutes from the West Gate Freeway and 14 kilometres from the Melbourne CBD.
The site will be auctioned on March 6 through marketing agents, Savills Australia's Tim Casanelia and Tom Davis of Tom Davis Industrial Property Consultants.
"The sale provides an opportunity for a developer or owner-occupier to secure a site in what has been a sought after location having already attracted the likes of Coles, Toyota, Chep and Target," said the agents.
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Altona development site slated for auction

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Investors are being offered a rare opportunity to acquire a 50% share in the new Queensland headquarters for GE Australia in Springfield Central.
The soon to be completed GE Queensland headquarters, located in the central business district of Australia’s largest master planned city, Greater Springfield in the heart of South East Queensland, is being offered for sale with three adjoining future development sites.
The 31 Barry Alexander Drive site - known as Parkside - has a total land parcel of 16,880 square metres.
Knight Frank’s Grant Whittaker and Ed Sutton, in conjunction with Savills Peter Chapple and Anthony Ott, <a target="_blank" href="https://www.spacehero.com.au/listing/Brisbane-Cbd-6322">are marketing the GE building and development projects</a> on behalf of master developer, Springfield Land Corporation.
“Comprising 12,500 square metres of A-grade office accommodation over five levels, the Parkside project will be a landmark asset designed by leading architects Conrad Gargett Riddel and anchored by one of the world’s largest corporations,” said Mr Sutton.
On completion, Parkside will comprise an ultra-modern office tower with ground floor retail and secure basement parking for 229 vehicles. The building is targeting a 4.5 star NABERS rating.

Mr Sutton said the residual land contained in the project’s commercial precinct provided an opportunity to partner with the master developer, Springfield Land Corporation, to undertake a joint venture for the development and delivery of the three separate but adjoining lots. The lots are known as Parkside Two, comprising 1,790 square metres, Parkside Three 4,745 square metres and Parkside Four 5,345 square metres for uses including commercial, hotel and retail, he said.
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Investors offered chance to purchase 50% stake in new Queensland headquarters for GE Australia

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Lynch Group Australia has sub-leased a warehouse facility in Sydney's Mascot.
The company has secured 1,404 square metres of sub-leased space, at Unit 9/476 Gardeners Road. 
The length of the lease is for nine months, at a gross face rent of $155 per square metre.
The previous tenant in the property was Smartbox Storage Pty Ltd. 
Agent Trent Gallagher of Colliers International handled the lease. 
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Lynch Group Australia sub-lease Mascot, Sydney warehouse

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Non-profit group People with Disability Australia (PWD) has relocated to new offices in Sydney's city fringe suburb of Redfern.
The firm secured 433 square metres of space on Level 10, 1 Lawson Square Street, Redfern.

The leasing deal was negotiated by Ray White Commercial Office Leasing Director John Skufris.

The lease was struck at a gross rental of $166,705 per annum over three years.

Nearby at 161 Redfern Street, the Aboriginal Disability Network leased 129 square metres, at a gross rental of $450 per square metres a year. Mr Skufris also negotiated the lease.
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People with Disability Australia relocating office to Redfern

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

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