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An offshore investor has acquired an industrial property in Sydney's Regents Park for $12.425 million. 
The 7,827 square metre building is located at 2-6 George Young Street and was owned by vendor Abacus. 
The sale price reflected an initial yield of 7.6% and equated to about $1,587 per square metre.  
Colliers International's John McCann and Tony Durante negotiated the off-market transaction.  
The agents said that the property was listed to go to an on market campaign with advertising booked but was sold prior.
The property is leased to Colorpak Limited until May 2021.
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Regents Park industrial property sells off-market for nearly $12.5 million

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A local investor has purchased a retail shop in the popular tourist destination of Noosa Heads on the Sunshine Coast for $1.575 million.
The 5/62 Hastings Street transaction reflected a net yield of about 7.4%.
The 61 square metre shop is leased to local business owner Poeta Herford on a five year lease.
Paul Forrest and Tracey Ryan of Ray White Commercial Noosa negotiated the sale.
“With the completion of this sale, supply of investment property in Hastings St has become extremely limited,” said Mr Forrest.
Ms Ryan noted that recent leasing activity in Hastings St had also seen vacancy rates tighten.
“Current projections will see a retail vacancy level in Hastings St of less than two% by Easter,” she said.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
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Noosa Heads retail shop sells to local investor for $1.575 million

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Singapore listed group Hiap Hoe has extended its presence in Australia, this time acquiring an A-grade building in Perth for $90 million. 
The off-market transaction, at 130 Stirling Street (pictured below), is the fourth purchase undertaken by Hiap Hoe in Australia and is the biggest sale in Perth since May 2013. 
<img alt="130_Stirling_St_2" height="353" width="470" src="/images/stories/2014/02/19/130_Stirling_St_2.jpg">
The 5,033 square metre site was held in a Charter Hall syndicate. 
The sale was negotiated by Paul Craig and Miles Rowe from Savills Perth office.
Savills managing director of Western Australia, Paul Craig, noted that the sale signalled the entry of a major new international investor in Perth, which "represents a strong vote of confidence in the property fundamentals and future outlook for the market". 
Since making its first foray in 2013, Hiap Hoe has acquired three Melbourne CBD assets: 6- 22 Pearl River Road; 380 Lonsdale Street and 206 Bourke Street. 
The Perth acquisition is said to be in line with the company's strategy to build up a strong geographical presence in Australia with a diversified portfolio of income – generating assets. 
The seven-storey building has a net lettable area of 12,349 square metres. 
Hiap Hoe executive director, Tracy Wun, said: “130 Stirling Street enjoys a strong occupancy of 97.7 per cent with a weighted average lease expiry of 5.71 years.”
"Moving forward, Hiap Hoe will continue to opportunistically expand our regional real estate portfolio as we remain focused on quality investment assets with attractive yields just as 130 Stirling Street.”
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Hiap Hoe splashes $90 million on A-grade Perth building

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Serviced office provider Servcorp said it was on track to deliver continued earnings growth in the 2014 financial year after handing down a 20% lift in interim net profit.  
Net profit after tax came in at $11.12 million for the six months to 31 December, on revenue growth of 15%.  
Like for like occupancy across the group was steady at 78%.
Excluding North Asia and the ANZ/SEA region - which comprises of Perth, Singapore, Kuala Lumpur and Wellington - the remaining international locations achieved their occupancy target of between 82-85%. 
Growth in the virtual office business continued in line with management's expectations, delivering growth of 9% to about 37,000 packages.
The company's operating cash flow was strong - up 63% to $18.13 million. 
On the outlook, management said that "initial indications are that business conditions are starting to recover around the world".
"Over the last four years we have substantially enhanced our footprint and as the global economy improves we are very well positioned to take advantage of the recovery in global business sentiment.”  
Its current vacancy levels, added management, gave the company “significant opportunity to improve our margins and operating results". 
It is aiming to grow its footprint in strategic locations and to add 10% to office capacity in FY14.
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Servcorp hands down 20% lift in interim net profit over first half of financial year

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Improved trading conditions in Melbourne, Sydney and a recovery in Cairns helped boost average hotel room rates across the country by more than 3% in the 12 months to December 2013.

The figures were revealed in the latest Savills Insight Australian Hotels report, which painted an upbeat picture for hotel industry in the year ahead. 
"As the correction of the Australian dollar continues, domestic travel is likely to increase and Australia will become more affordable for international tourists", the report said. That combination of factors, it believes will lead to increased demand and higher rates in Australian hotels.
Average revenue per available room (RevPAR) growth rose by 3.2% to $132.36 in 2013. RevPAR is a key industry performance measure based on multiplying the occupancy rate by average daily room rate.
RevPAR growth was the strongest in Melbourne, which recorded a 7.2 per lift, followed by Sydney at 6.4% and Cairns at 3.3%. That was offset by falls in Perth, which was affected by the mining industry scale back, Brisbane and Canberra.  
Savills is tipping a better year ahead for the Brisbane market, with expectations of a "spike in trading" during the G20 summit in November.  
During the 12 months to December, Savills recorded 69 sales of hotel assets over $5 million throughout Australia, representing a total value of $2 billion. More than half of that total value was attributed to the sale of the Four Seasons Hotel Sydney and the TAHL portfolio. 
With demand continuing to outstrip supply, the report said: "current owners are looking to capitalise on rising values and view the next 12 to 18 months as a good time to exit the market."
Savills also highlighted that development of new hotels was picking up and as a result "we could see offshore investors acquire hotels on forward commitments as a way to secure assets in a tightly held market."
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Average national hotel room rate lifts by over 3% in 2013: Savills

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<img src="/images/stories/2013/10/29/KF_STACKED_RGB.jpg" width="200" height="75" alt="KF_STACKED_RGB" style="max-width: 480px; display: block; margin-left: auto; margin-right: auto;">
Name: Ashley Moffat<img style="float: right;" alt="ashley_moffat_feb_17" height="125" width="100" src="/images/stories/2014/02/17/ashley_moffat_feb_17.jpg">

Position: Associate director, retail leasing

Company: Knight Frank

Office Location: Brisbane





How long have you been in the industry?
21 years
What’s happening in the area you specialise in?
Plenty – the sands are shifting constantly in retail leasing and sometimes hard to keep up with the latest trend/fad/concept. At the moment, it’s all about very specific fresh food concepts. Rather than just opening an Italian restaurant, restaurateurs are instead opening up a “Meatball” restaurant which may roll out 10 different varieties of meatballs. It’s all very exciting.
Describe the most interesting property you have sold
I’ve spent most of my career leasing or developing shopping centres. Probably the funniest transaction was when I was in the pub talking to a complete stranger who, after sharing a couple of drinks, asked me whether I was interested in buying a piece of land he had an interest in. 12 months later I completed building a BI-LO Supermarket and specialty shops on it which resulted in a few million dollar profit for the company I was working for at the time. Goes to show, networking does work!
What are the ingredients to being successful in your job?
You have to love it, because it shows if you don’t. There are plenty of people that just go through the motions; they are also the first people to complain they haven’t received a promotion or aren’t making any money.
What aspects of your role do you enjoy the most?
Every day is different, every hour is different – it never gets boring.
Where would you invest a spare $750,000?
I’m a big believer in the Gold Coast at the moment – it’s clawing its way out of the mud and there are just some unbelievable opportunities to pick up. I would choose a two bedroom, two bathroom unit overlooking the ocean, in an older style building, for mid to high $400,000s. Spend $50,000 modernising it and to me, that is a smart investment for the boom that is on the horizon.
Which football team do you support?
Broncos (don’t hit me!), Roar and the Lions. And of course the Reds. Any ueensland team with the exception of the Titans – my brother and sister support the Titans so I automatically hate them just to be annoying! Makes for interesting dinner table conversation when we catch up.
What’s your favourite app or techno gadget?
“Kaching”, which is the Commonwealth Bank app. Obviously only handy if you bank Commonwealth, but I use it all the time, it’s just eliminated so much time wasted getting online or going to the bank.
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How do you use social media?
I admit to being a little “slow” to embrace these mediums. I don’t have Facebook because I like to maintain some form of private life. However, I am starting to embrace <a target="_blank" href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/ashley-moffat/79/971/975">LinkedIn</a>, which I think is a very handy tool for professionals to communicate and share information. But I’m still a little “old school”, and believe nothing beats picking up the phone and talking to somebody, or better still, face to face contact.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
Correction: Ashley Moffat's title has been updated to associate director of retail leasing since initial publication.
         
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In profile: Knight Frank's associate director of retail leasing, Brisbane, Ashley Moffat

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Total industrial vacancy on Australia's eastern seaboard surged to a near three year high in the 12 months to January, as the Melbourne and Brisbane markets were swamped with additional space.
Fresh figures from Knight Frank's Quarterly Eastern Seaboard Industrial Vacancy report showed that the total industrial vacancy on the east coast rose 2% over past quarter and 10% in the past six months to 1.84 million square metres as at January 2014, reflecting a 28% increase over the same time last year.
<img alt="chart_of_the_week_feb_18_one" height="316" width="470" src="/images/stories/2014/02/18/chart_of_the_week_feb_18_one.png">
Source Knight Frank
Inflating that result was a jump in available industrial space in Melbourne, which was up 26% to 626,848 square metres over the past six months - the highest vacancy in more than three years.
The vacancy rate in Brisbane soared 17% to 551,433 square metres - the highest recorded by the survey, which started in early 2007.
Taking a 12 month perspective, the vacancy rate was more pronounce in Melbourne and Brisbane - up 75% and 67%, respectively.
Sydney was the bright spot in the results, with the vacancy rate falling 7% to 662,661 square metres, down 7% over a six month period and 12% over the year.
Prime space across the Australian east coast market remained relatively scarcer than secondary, however the proportion of prime space had increased marginally over the past year, from 34% to 44% of the market, said Knight Frank's head of research and consulting Matt Whitby.
The highest proportion of available prime space is within the Sydney market with 49%, equal to 322,350 square metres of total available stock.
"The proportion of total vacancies made up of prime stock is now at its highest level since the series began although the majority of these options are in the sub 10,000 square metres range," Whitby said.
Better placed was the secondary market, which has fallen 40% since its peak down to 340,300 square metres.
“This is expected to correct sharply over the coming quarter with a strong pipeline of 35,000 square metres of vacant stock in Sydney currently under offer, 20,000 square metres of which is speculative builds,” said Whitby.
"This is another sign that confidence is returning, particularly within the Sydney market, as much of 2013 was dominated by shorter term leases in secondary accommodation as a hold over measure until corporate confidence improved and longer term, higher grade accommodation is sought.”
Commenting on the tenant demand, Knight Frank national industrial director, Greg Russell, said that the take-up across the eastern seaboard had softened for the second quarter in a row, following the July 2013 quarter record result, with 34 buildings over 228,493 square metres absorbed.
“There is some scope for leasing demand to pick up, as enquiry levels suggest a degree of improvement, however there remains a lack of urgency from tenants to finalise premises related decisions,” Russell added.
The Knight Frank research also pointed to the firmer tenant demand for prime grade stock, with 78% of gross absorption in the second half of 2013 dominated by prime accommodation. The take-up of secondary accommodation over the past quarter - some 49,400 square metres - is significantly less than the 273,800 square metres absorbed in the July 2013 quarter.
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East coast industrial vacancy surges to near three year high: Knight Frank

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Stockland today raised its full year earnings outlook to the upper end of its guidance, after a better than expected interim net profit.
A 39% surge in its residential business helped the listed diversified property group produce a stellar 5% increase in underlying profit, to $267 million for the six months to 31 December.
Underlying earnings per security (EPS) was steady at 11.6 cents.
Funds from operations (FFO) per security were in line with underlying EPS at 11.7 cents and up 4.5% on 1H13.
Stockland managing director Mark Steinert said: “This is a good result that demonstrates the progress we are making in improving our operational performance.”
He also made a point of saying that while the business was well positioned, the group remained conservative in its outlook for FY14 due to continuing uncertain economic conditions.
Despite that note of caution, Mr Steinert said: " we are confident we are on track to achieve the upper end of our guidance, and have therefore tightened this to 5-6% EPS growth in FY14, assuming there is no material decline in market conditions.”
Management is forecasting a positive seasonal skew in residential and retirement living earnings in the second half, "underpinning a stronger second half EPS".
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Stockland raises earnings outlook after better than expected interim profit

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One of Hawthorn's oldest buildings - which has been home to Young’s Auctions since 1930 - will go under the auctioneer's hammer next month.
The single storey retail building, at 229 Camberwell Road in <a href="/news">Hawthorn East</a>, has been used for the past 80 years as an auction house.
Colliers International’s Jeremy Gruzewski and Ted Dwyer have been appointed to sell the building by auction on March 20.
{qtube vid:=uIIdlD285Y0}
Gruzewski said: "Young’s Auctions has been operating here since 1930, but the property itself has been an auction home since 1910."  
The business is run by David and Ian Young, the third generation of the Young family.
"This sale doesn’t signal the end for Young’s Auctions, rather, the business is looking to relocate to bigger premises with easier access for deliveries," said Gruzewski.
The 415 square metre building is situated on a 442 square metre site near the corner of Camberwell, Burke and Riversdale Roads in Hawthorn East – an area better known as Camberwell Junction.
The property is being offered for sale with a leaseback until June 2015 at $140,000.
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Historic Hawthorn auction building set to go under the hammer next month

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One of the largest industrial properties within Brisbane's western corridor has been listed for sale with a leaseback from the vendor Hills Ltd.
The 17,455 square metre industrial facility, at <a target="_blank" href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-richlands-501029711">70 Fulcrum Street</a> in <a target="_blank" href="/news">Richlands</a>, is being sold with a leaseback until 30 June 2015.
An expression of interest campaign is being led by Tim Armstrong, Mark Clifford and Greg Russell of Knight Frank.
Knight Frank’s Industrial Director, Mark Clifford said that the property’s position within a prime and tightly held location would be particularly appealing in light of Brisbane’s lack of opportunity of scale.
"Land supplies particularly in the south/west precinct of Brisbane continue to shrink", Clifford said.  "Radius Industrial City at Larapinta, Southlink Estate at Parkinson and Metro West Estate at Darra are close to 100% occupied.
"The recent deal with DB Schenker at Goodman’s Redbank Estate also highlights the quality of the Western Corridor as a location."
 news@propertyobserver.com.au
 
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One of Brisbane's largest industrial complexes listed with leaseback

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" />

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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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