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Parramatta's reign as a mecca for attracting the public service sector is set to be tested, as Sydney’s largest suburban market battles with a dated stock profile and low future office supply.
A new research paper from Jones Lang LaSalle, “Parramatta – Reversing the prime-grade office slide”, described the suburban office sector as reaching a "critical point” with low future supply and an ageing stock profile. It cautioned that in "this public-sector dominated office market requiring strong sustainability benchmarks, there is an increased risk of flight from existing government tenants.”
Jones Lang LaSalle’s director of Parramatta and metropolitan office leasing William Tong said many government tenants were locked into long-term lease agreements, which had kept contiguous floor space scarce.
"This has acted as a smoke-screen for a low-demand environment, dampened by a lack of modern supply that would attract new tenants to Parramatta", he said.
To offset this increased risk of flight from government tenants, the research paper suggests that the best and fastest way to rejuvenate the Parramatta office precinct is to refurbish secondary grade assets.
Mr Tong said with new NSW Government environmental benchmarks in place for all government accommodation, Parramatta’s public sector-dominated office market needed to modernise or face the consequences in the future.
Assuming government leases from the 90s and 2000s were under 10-year lease expiries, he says, "there’s currently significantly elevated flight risk for a government tenanted, secondary-grade landlord".
JLL estimates there are 31 office properties within the Parramatta CBD that house at least one NSW state government tenant. Of those, it says, 22 buildings were considered secondary grade.
“It is critical for landlords to invest capital into their assets to improve their environmental credentials, as well as overall occupier amenity," said Mr Tong.
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Parramatta faces challenges to public service office reign

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The strong march of Australia's metropolitan markets has continued, particularly in Sydney and Brisbane which have experience solid supply growth, tenant demand and investor interest.
New research prepared by Colliers International, examining the CBD and metropolitan office markets, found that while Australia’s CBD's still contain the majority of the country’s office space, the metropolitan markets represent "a large and growing proportion".
<img src="/images/stories/2013/10/08/CHART_OF_THE_WEEK_OCT_9.png" width="470" height="269" alt="CHART_OF_THE_WEEK_OCT_9">
Cities monitored as part of the "Metropolitan Office Research &amp; Forecast Report"  – Sydney, Melbourne, Brisbane and Adelaide – had  a combined total of almost 10.5 million square metres of office space in their metropolitan markets. In contrast, those four capital city CBDs had 12.8 million square metres of office space.
The Colliers report showed that the Sydney and Brisbane metro markets have seen significant growth in net lettable area (NLA) over the past 10 years, growing by 79% and 62% respectively. Sydney's metro market is now bigger than the CBD market.
The metro markets of Melbourne and Adelaide have seen respective NLA growth of 24% and 14%, and have been outperformed by their CBD markets.
Going forward, Colliers expects urban regeneration precincts and those with solid public transport access will continue to offer best prospects for growth.
Parramatta and North Sydney in NSW and the Northshore Hamilton precinct in Queensland were identified as areas to watch.
Melbourne's  Fishermans Bend precinct - a 240 hectare precinct on the edge of the CBD that had  recently been rezoned to capital city use, was another hub potentially with good prospects.
Whilst planning for the precinct was in its very early stages, it said, the Victorian State Government had  plans for up to 40,000 jobs in the area.
"Even if only half of these jobs are office-based, as many are expected to be retail, this equates to around 280,000sq m of office development in the area – that’s more than three Rialto towers, " Colliers said.
Another key finding of the report was the increasing number of local institutions are shifting their investment focus away from traditional CBD office markets to metro markets.
Colliers managing director of capital markets and investment services,  John Marasco noted that while the focus of the major domestic and offshore pension and sovereign wealth funds continued to be on CBDs, "other listed and unlisted institutions will create funds specifically to target metropolitan office markets, as their capital looks for new and expanded markets".
“A number of major Australian institutions are believed to be creating these kind of funds as they seek to diversify their portfolios and target higher yielding assets.”
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Metro office markets continue strong growth: Colliers

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<img style="max-width: 480px; display: block; margin-left: auto; margin-right: auto;" alt="jll_logo" height="114" width="200" src="/images/stories/2013/09/23/jll_logo.jpg"><img style="max-width: 480px; float: right;" alt="brendan-delahunty-profile" height="178" width="136" src="/images/stories/2013/10/08/brendan-delahunty-profile.png">
Agent: Brendan Delahunty
Position: Senior negotiator, industrial
Company: Jones Lang LaSalle
Office Location: Brisbane
How long have you been in the industry?
I have worked in commercial agency for approximately nine years.

What’s happening in the area you specialise in?

The Australia TradeCoast (ATC) is the precinct where I’m predominately focused.  It is an area that ticks a lot of the boxes industrial users are  seeking particularly in regards to location, as it offers a large amount of transport efficiencies which can reduce the overall cost of running a warehouse.  As businesses continue to focus on the ability to control and minimize freight costs through the location of their warehouse, the precinct receives increasing levels of interest. 

Over the past few years the area has benefited greatly from a number of major road infrastructure upgrades including the duplication of the Gateway Bridge and the completion of the Airport Link Tunnel as well as improvements to the Gateway Motorway and the Port of Brisbane Motorway.

Describe the most interesting property you have sold
I recently worked on the sale of a large investment in Hemmant where the purchaser had a innovative approach to unlocking the potential upside to the property.  It is always interesting to work with clients who have a new approach to their investment. 

What are the ingredients to being successful in your job? 
The key ingredients are systems and time management.  You need to develop good work systems to be able to work efficiently and enable you to spend the maximum amount of time with your clients. 
  
What aspects of your role do you enjoy the most?
The interaction with a wide range of people.  Working in industrial property you cover a very broad range of businesses and with that comes a diverse range of people and a lot of interesting stories behind them.  
Where would you invest a spare $750,000?
Obviously into industrial property, as this is an asset I believe offers a strong risk/return investment proposition particularly in the current market.  For a property in the $750,000 range I would look at anything freestanding in the TradeCoast or adjoining the Brisbane Airport.   
Which football team do you support?
The Queensland Reds. 
What’s your favourite app or techno gadget?
I like reading current affairs so I have quite a few news apps like the AFR and The Wall Street Journal. 

How do you use social media?
I am a big fan of <a href="https://au.linkedin.com/in/brendandelahunty" target="_blank">LinkedIn</a>, but that is about the extent of my social media.
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In profile: Jones Lang LaSalle's senior negotiator, industrial, Brendan Delahunty

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One of Melbourne's most renowned buildings is up for sale. Investors are being offered a rare opportunity to buy the Prahran Post Office in Prahran, which has been listed for sale with price expectations of about $10 million.
Located in one of Melbourne’s most sought after boutique shopping strips, the <a target="_blank" href="https://cbre.realcommercial.com.au/property-retail-vic-prahran-500879895" x-apple-data-detectors="true" x-apple-data-detectors-result="19">168 Greville Street</a> property, is a combined retail and office building over three levels. The total building area is 1,890 square metres.
The property is expected to attract strong interest from private investors and self-managed super funds.
CBRE's Josh Rutman, Tom Tuxworth and Mark Wizel have been appointed exclusive marketing agents.
Mr Rutman described the property as a "trophy passive holding"', highlighting that the building is fully leased. Among the tenants in the building is renowned Italian restaurant Zucca Rossa. 
Expressions of interest close on 25 October. 
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Prahran Post Office on the block with $10 million expectations

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A large industrial site in Melbourne's western suburb of Altona has fetched $3.62 million 
The 34,510 square metre parcel of industrial land,  at 44-58 Marshall Road, was purchased by an owner occupier/builder, who is looking to construct a large scale warehouse, providing jobs for the local community.
The price represented a sale rate of $105 per square metre.
“This successful sales result suggests that the Western Suburbs of Melbourne have rebounded from the subdued economic conditions experienced in recent years,” said DTZ Associate director of industrial, Mr Rob Mirabello.
“We are witnessing an increase in demand for development sites in Melbourne’s West as businesses are now realising the value of the area with sophisticated road infrastructure in place and a strong, readily available labour force.”
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Altona industrial site fetches $3.62 million

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Hills Holdings has sold its office and warehouse complex in Sydney's Riverwood for $9.7 million. 
A private investor/owner occupier purchased the industrial complex, at 8-12 Wiggs Road. 
The complex sits on a building area of 8,902 square metres, over six separate buildings on a large land parcel of 2.18 hectares. It includes six buildings comprising of a 3,220 square metre warehouse, a 2,330 square metre office/warehouse, a 1,054 square metre office/warehouse, a 1,195 square metre office, an 809 square metre office/warehouse and a 291 square metre warehouse.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795891" target="_blank">8 Wiggs Road, Riverwood</a>
{yoogallery src=[images/stories/2013/10/02/riv]}
 
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795887" target="_blank">10-12 Wiggs Road, Riverswood</a>
{yoogallery src=[images/stories/2013/10/02/riv2]}
 
Paul Mileto and Eugene Evgenikos of Knight Frank negotiated the deal.
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Hills Holdings let go of Riverwood office and warehouse complex

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Yokogawa Australia Pt Ltd has leased a warehouse/office unit at Murarrie in Brisbane’s east.
The industrial automation and instrumentation company took out a two year lease, at 4/16 Metroplex Avenue (pictured below).
{yoogallery src=[images/stories/2013/10/02/mur]}
The warehouse/office unit is part of a complex, which is located in the heart of the Brisbane Trade Coast commercial hub of "Metroplex on Gateway"' said Stephen Ferguson of Ray White Industrial Milton, who negotiated the lease.
“The property includes a 480 square metre commercial grade office/showroom over 3 levels and a 20 square metre storage area accessed via a container height roller door, " he added.
The lease was struck at a net rental of $105,000 per annum.
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Yokogawa lease Murarrie warehouse office unit

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Institutional and investor appetite for retail assets shows no sign of fading, with more than $450 million worth of shopping centre deals around the country believed to be close to being finalised or just completed. 
Mirvac Group is close to finalising its purchase of the Harbourside Shopping Centre in Sydney's Darling Harbour in deal believed to be worth more than $255 million. A source told Property Observer that the deal could be finalised as soon as next week.
The three level retail and entertainment centre was listed for sale by Suntrack Holdings, a company owned by developer John Beville. Suntrack reportedly paid $127 million for the property in 2004.
Selling agent Stonebridge Property Group declined to comment.
In a separate deal, Raptis Investments have purchased the Inala Plaza shopping centre for $32.350 million. The sub-regional centre, located south?west of Brisbane's CBD, was sold on a passing initial yield of 11.5%.
The centre is anchored by supermarket retailers Woolworths and Coles and supported by two mini major tenancies and 60 specialty tenancies. The sale was negotiated by Jonathan Fox and Carl Molony of Stonebridge Property Group, on behalf of the vendor 360 Capital.
Speculation has also emerged that potential suitors for Harbour Town Perth have entered the second round of negotiations. At least two offshore parties, one from Singapore, are said to be having a hard look at the outlet shopping centre.  Colonial First State could also be among the interested parties. The price is believed to be around $165 million plus.
Expressions if interest for Harbour Town Perth closed in 26 September.
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More than $450 million of shopping centre purchases being finalised

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LJH Commercial is continuing its national expansion push, this time in Victoria.
The foray into Victoria comes less than a month after LJH Commercial, which is part of the LJ Hooker group, opened its first office in Perth and is the last major city it does not have an office presence in.
Patrick Brush, head of the commercial network for the LJ Hooker group told Property Observer that it hoped to initially open three offices over the next three to six months and "possibly another couple after that".
He said one of the key focus areas for LJH Commercial’s expansion is metropolitan Melbourne and its surrounding south-east and western regions.
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LJH Commercial expand into Victoria

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Global real estate firm Knight Frank LLP has finished its financial year posting a group profit before tax of £102.7 million (AUD $176 million) in the 12 months to 31 March.
The profit result represented a 7% increase over the previous year, on group turnover of £350 million (AUD $602 million).
The company did not breakdown individual country results. 
But Knight Frank Australia group managing director Kevin Coppel said that “while there are always things for us to work on, we are pleased with how our business is travelling... We are confident that our business will continue to strengthen in the current year.”
“Knight Frank has been involved in a number of major transactions across the country over the last 12 months and we continue to invest in our Australian business, with the priority being our agency businesses on the East Coast,” said Knight Frank Australia executive chairman Stephen Ellis.
Highlights for the Australian business from the year included Boeing Defence Australia committing to a 7,459 square metre lease, at 150 Charlotte Street, in Brisbane's CBD and specialist property fund manager CorVal buying an office building near Perth’s CBD from Australian Unity for $72.15 million.
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Knight Frank LLP post $176 million pre-tax profit

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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