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The Riverlakes Shopping Village in Brisbane's Cornubia has been listed for sale.
Originally developed around 1992 and refurbished in 2011/2012, the centre occupies a site of 14,439 square metres on the Beenleigh-Redland Bay Road.
The complex is anchored by an IGA Supermarket, Chemist Warehouse and Medical Centre and supported by a mix of specialty tenants including Bottle Shop, Newsagency, TAB, Bakery, Seafood Takeaway, Hairdresser and a drive-through Zarraffas Coffee cafe. It also features a freestanding childcare and fitness centres, as well as grade-level parking for about 186 cars.
The marketing campaign is being handled by Peter Tyson and Michael Harcourt of Savills retail investment aales.
Mr Tyson said the property is expected to generate strong interest from a wide range of investors, including private buyers, self-managed super funds and consortiums. 
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Riverlakes Shopping Village in Cornubia, Brisbane listed

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Positive signs are emerging for Brisbane's industrial property market, with prime rents kicking 2.5% in the 12 months to March, a new report has revealed.
The spike in rents was just one of the upbeat themes outlined in Savills latest Spotlight on Brisbane industrial research report, which also showed growing tenant demand for pre-leased quality industrial space across Brisbane.
A lot of this increased focus on the pre-lease market, said the report, could be attributed to the competitive nature of this market, "where new builds can be more competitive with the rental rate than existing properties".
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” noted Savills Queensland associate director of research, Helen Swanson.
“This has led to 2.5% rental growth for prime grade product over the 12 months to March 2014."
<img src="/images/2014/05/13/chart%20may%2013%20one.png" alt="">
Boding well for the market has also been the number of significant pre-commitments from major companies in the last quarter. Among them DB Schenker and Northline at Redbank and Kagan Logistics at Hemmant.
"There is also anecdotal evidence suggesting a number of other major pre-commitments may also be in the pipeline for the Brisbane market,” said the report.
The transport and logistics sectors were identified as the most active in the Brisbane industrial leasing market, accounting for 25% of all leasing activity in the 12 months to March. The wholesale and retail sectors were the next biggest movers, accounting for 19% of all leases.
"The resurgence of the residential market within south-east Queensland has also see a huge increase in demand from the building supplies industry with many of these companies taking advantage of the lower rental rates offered by secondary product", it said.
"There is still however a lack of urgency in the tenant market with the perception that supply outweighs demand."
Those two sectors are forecast to achieve strong growth over the next five years and should continue to be major takers of space in the Brisbane industrial market.
"These users are looking for efficiency gains and the option of brand new mega-style warehousing is appealing to some of the larger players,” added Ms Swanson.
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Spike in Brisbane industrial prime rents

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Name: Adam Barrett<img src="/images/2014/05/12/barrett-profile.png" alt="" style="float: right;">
Position: Director - office leasing
Company: JLL
Office location: Brisbane
How long have you been in the industry? 
17 years
What’s happening in the area you specialise in?
The Brisbane office leasing market is challenging at present with limited demand and record high vacancies. Though we have witnessed general activity and tenant interest in new accommodation increasing significantly in 2014 due to the attractive incentive levels now on offer from landlords. We see general sentiment in the office market improving over the next couple of years as business confidence grows and economy gets back on track.    
Describe the most interesting property you have sold?
I have only ever sold some Strata titles units for Honourable Con Sciacca which was very interesting in its self as my focus is on office leasing. The most interesting and most rewarding project that I have been involved in to date was pre-committing 145 Ann Street for Leighton Properties.
This was done at the height of the GFC when securing both the tenants and the funding package for a new office project was very difficult. We were successful in securing 19,000 square metres of pre-commitments to GHD, CUA and Grant Thornton, enabling the commencement of construction of the 27,000 square metre office tower.
What are the ingredients to being successful in your job? 
Office leasing is a game of highs and lows and you need to be able to stay focused through both cycles. Hard work and persistence is needed at all times. Building and maintaining relationships is the key to successful agent. 
What aspects of your role do you enjoy the most? 
I enjoy the day to day contact with a variety of different people and personalities. It really is people persons game and the job  continually throws up many different challenges which keeps it interesting. 
Where would you invest a spare $750,000
I've normally been a high risk high returns type of person but now I have two kids at school and costs are continually growing so I think I would invest more cautiously in blue chip stocks like the CBA or BHP seeing the year on year profits these companies are making.
Which football team do you support? 
Queensland Reds and Brisbane Broncos
What’s your favourite app or techno gadget? 
I love my iPad. I read the paper on this most days and search the weather forecasts for the weekend when I go boating etc. 
How do you use social media?
I'm not overly into social media from a personal perspective, however I do ensure the <a href="https://twitter.com/JLLAustralia" target="_blank">JLL twitter account</a> always carries details of deals, commentaries and trends. How do I use social media? I don’t really. I haven't caught on to whole twitter thing but I do have a Facebook account now.  
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In profile: JLL's director - office leasing, Adam Barrett

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GUEST OBSERVATION
The substantial increase in electricity prices over the past decade has seen building owners becoming increasingly conscious of the impact that heating, ventilation and air conditioning (HVAC) units are having on their bottom line.
These units account for around 40% of a building’s energy expenditure and 70% of a landlord’s total energy bills. Data also shows that at least 15% of this consumption is attributed to faults and inefficiencies – issues normally addressed at intervals decided by building maintenance teams, not at the point of malfunction.
These constant faults and inefficiencies are leading to high tenant dissatisfaction due to poor conditions, lower National Australian Built Environment Rating System (NABERS) star ratings, increased carbon emissions and of course, skyrocketing energy bills.
For this reason I’ve spent the past two years developing the ACE Platform, capable of identifying and correcting faults and inefficiencies in HVAC units in real time.
It works by digging into multiple data sources including building management systems, sensor and control data, occupancy figures and weather data, and feeding it into a cloud-based analytics engine.
It then recreates the structure of the plant and equipment virtually, determining optimal energy usage and generating reports at points where actual energy usage deviates from this norm. These reports are issued to building owners and maintenance teams in a simple, specific and actionable format – allowing issues to be addressed before they become a tenant complaint or begin to cost thousands of dollars. 
The ACE Platform was recently trialed at large commercial shopping centre Wollongong Central where it was shown to save the property owner $5,250 on energy every month – a forecasted saving of $63,000 per year.
Though the trial was on just one site, with many owners holding over 50 sites in their portfolios the savings the software platform could deliver to a business could amount to millions of dollars per year. Greater tenant retention rates and increased NABERS ratings could also deliver greater returns to shareholders through an increase in the value of the asset.
David Walsh is chief executive officer of CIM Environmental Group.
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Could this be the future of building optimisation?

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Westfield Group has succumbed to shareholder pressure and announced it will be improving the terms of its proposed merger for Westfield Trust unit holders by $300 million.
Under the adjusted proposal, Westfield will reduce the net debt contributed by the group's Scentre Group - made up of the Australian and New Zealand businesses- by $300 million to $6.8 billion.
As a result, Scentre Group’s pro forma net assets, at 31 December 2013, will increase from $14,980 million ($2.82 per security) to $15,280 million ($2.88 per security).
Pro forma gearing will reduce to 37.3%. Slightly above Scentre's targeted range of between 30-35%.
Last December, Westfield proposed splitting up its $70 billion empire to create an international entity to be known as Westfield Corporation.  The rest of the business would be known as Scentre Group - to be made up of its local and New Zealand operations, along with the Westfield Retail Trust (WRT).
A number of WRT unit holders had reportedly expressed concerns about the price of the merger deal and the consensus was that proposal would be voted down at the extraordinary meeting in late May.  
Westfield Group chairman Mr Frank Lowy AC said: “We have met with key investors in both WDC and WRT, the overwhelming majority of whom support WDC’s strategy of restructuring along geographic lines and merging the Australia/NZ business with WRT". " In response to some concerns raised and in consultation with the independent directors of WRT, WDC has decided to improve the merger terms for WRT security holders.”
“The change improves the terms on which WRT security holders are gaining their ownership interest in WDC’s industry leading operating platform." At the same time, he said, the adjusted terms improved the financial position of Scentre Group by reducing its gearing ratio and enhancing its Funds from Operations (FFO).
The transaction is now expected to deliver a 6.6% accretion to WRT’s forecast 2014 FFO. 
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Westfield Group improves trust merger terms

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One of the country's biggest office landlords has said "positive indicators" were emerging from Australia's office market in 2014.
In a March quarter operational update, GPT chief executive Michael Cameron said GPT was experiencing "good momentum" with 37,000 square metres of office lease signed or at heads of agreement.
He made a point of saying that GPT had seen "positive indicators in 2014, with levels of enquiry continuing to improve and vacancy across its portfolio reducing to 8.9% at 31 March 2014".
Highlighting the point, GPT noted its announcement this week that top law firm King &amp; Wood Mallesons had signed a new 11,980 square metre lease at its Governor Phillip tower in the Sydney CBD.
His comments were part of a broader update on the trust's performance.
Comparable moving annual turnover (MAT) in the quarter grew 1.5%, while specialty sales growth rose 4.4%.
Mr Cameron said it was please with the positive momentum of nine consecutive months of specialty sales growth at its centres, "however we remain conservative on the broader retail market with our medium term outlook for shopping centre sales, and rents remaining unchanged."
It is anticipating moderate growth. 
Management also noted that its logistics development pipeline continued to expand and that its $7.2 billion funds management platform remained a solid performer, and was poised to "substantially grow throughout 2014".   
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"Positive indicators" emerging in office market: GPT's Michael Cameron

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A commercial building with a long-term tenant in Brisbane’s Strathpine has fetched $2 million.
A private investor picked up the 2,200 square metre property, at 3/104 Gympie Road, Strathpine.
The sale reflected a yield of 8.5%.
Handling the sale was Dillon Murphy and Trevor Nelson-Jones of Ray White Brisbane Northside.
The building is leased to Inside Sportz, with a returning rental income of more than $170,000 per annum. The lease is in place until 2017, with a five year option.
“The sports centre is situated on approximately 3,382 square metre of land and features indoor cricket, netball, soccer and beach volleyball facilities", said Mr Murphy. 
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Sports centre in Strathpine, Brisbane sold for $2 million

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A Camberwell shop and dwelling in Melbourne has sold under the hammer for $1.1 million.
The property was offered with vacant possession and purchased by a local investor, who has plans to refurbish and re-lease the property.
It sits on a land area of about 177 square metres at 931 Bourke Road, and features a two-level building of about 200 square metres with ground floor retail plus first floor residence.
Fitzroys agents Michael Ryan and David Bourke negotiated the sale. The vendor was  a local family, who had owned the property for more than 30 years.
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Camberwell shop sells for $1.1 million under the hammer

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The Caloundra Suncourt motel on the Sunshine Coast has been sold for $1.4 million. 
The prominent motel with redevelopment potential is located at 133 Bulcock Street and was sold to a local investor.
Len Greedy and Alan Gray of Ray White Commercial Caloundra handled the transaction.
Constructed on a 1,518 square metre block of land, the motel comprises 12 rooms split over two levels and includes a three bedroom manager’s accommodation.
Gray said redevelopment options for the property were varied and could include a mix of retail, office, medical and also residential units with water views.
He added that the purchaser had leased the motel operation to an experienced motelier for a limited period while he worked through the redevelopment potential for the site with an architect and town planner.
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Caloundra Suncourt motel sells to local investor

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A Chinese developer has snapped up an open plan office in the Melbourne CBD for $1.26 million.
The 420 square metre office suite is located at 20 Queen Street and features a boardroom and executive offices.
Tom Tuxworth, Chris Pharr and Ed Wright of CBRE Strata Projects negotiated the sale.
The agents said the property attracted an unprecedented level of buyer enquiry, with five expressions of interest to purchase.
The sale price equated to a rate of $3,000 per square metre.
Tuxworth said the new owner planned to use the property as its new Melbourne headquarters.
“Offshore developers who have been highly active in purchasing large development sites in the Melbourne CBD are now looking for commercial office space for their headquarters,” Mr Tuxworth said.
“Offshore groups are now competing with local owner occupiers and investors, resulting in competitive buyer demand and strong prices consistently achieved.” 
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Chinese developer buys Melbourne CBD office

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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