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One of Sydney's marquee real estate sites - the Sydney Opera House car park has been slated for sale, with price expectations of about $80 million.
The property is being offered for sale on behalf of receivers, KordaMentha and is expected to attract strong interest from international and domestic institutional investors.
<img alt="syndey-sept-19-three" height="428" width="470" src="/images/stories/2013/09/19/syndey-sept-19-three.jpg">
Prior to falling into the hands of receivers, the prized asset was owned by Mariner Financial - a company founded by Bill Ireland. Mariner reportedly purchased the car park for about $75 million in 2004.
McVay Real Estate has been instructed to sell the long leasehold.
A key attraction for buyers is expected to be the property's stable income stream, which is estimated to be about $7.6 million.
<img alt="syndey-sept-19-one" height="263" width="470" src="/images/stories/2013/09/19/syndey-sept-19-one.jpg">
"This is not just a car park," said McVay's managing partner Sam McVay. “This is a critical piece of infrastructure servicing the largest city in Australia and one of the most famous buildings in the world."
Completed in 1993, the 12- storey premises has about 1200 parking bays and is operated by Wilson Parking.
<img alt="syndey-sept-19-two" height="244" width="470" src="/images/stories/2013/09/19/syndey-sept-19-two.jpg">
The expression of interest campaign starts on Thursday.
Mr McVay believes offshore and private investors will be attracted by the high yield on offer for a relatively passive investment. “With no lease incentives to be paid out, investors are getting a truly net return, " he said.
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Sydney Opera House car park up for sale with $80 million expectations

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French-based hotel operator Accor has placed Australia front and centre of its growth plans, revealing its intentions to roll out a further four Pullman hotels, following a year of rapid expansion.
Since purchasing the Mirvac Hotel Group last year for €195 million (AU $280 million), the upscale hotelier has been aggressively growing its portfolio, in particular its upmarket Pullman brand.
In just 12 months, the Pullman brand has expanded from two hotels to 11.
A further four Pullman hotels are currently under negotiation.
“Establishing and expanding Pullman in Australia is one of the group’s priorities given we have recognised a sweet spot in the upscale market in Australia,” said Accor chief operating officer for Australia and New Zealand, Simon McGrath.
He said Pullman was currently at a turning point in its history and its expansion in Australia reflects that.
"Australia is seeing rapid increases in travel from a number of Asian destinations where Pullman is already well-established, and with the Australian Pullman network located in key business and resort areas of Australia, we believe that the brand is well poised to further grow considerable support from both international and domestic travellers,” said Mr McGrath.
The company attributed the success of the Pullman expansion to Accor’s multi-million dollar investment in growing the network of hotels and resorts, key refurbishment programs in Sydney, Melbourne and Brisbane worth over $20 million and new brand repositioning.
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Accor hotels has sights set on Australia for growth plans

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The Asia-Pacific region is forecast to have the highest level of average rental growth of any region globally over the next five years but Australia is not expected to achieve the same highs.
In its first ever global office review for the first half of 2013, DTZ Research showed  "subdued rental growth globally" of less than 1% as the slowing Chinese economy, subpar US growth and persistent European economic difficulties continued to weigh heavily on corporate tenants around the world.
The weaker China economic growth story saw general sentiment and demand for office space in the Asia-Pacific region "cool" over the same period, with the exception of the emerging south-east Asian markets.
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The results for the Australian office market were weak. Melbourne registered a decline in rents and the report stated that "the lack of rental movement in the other Australian markets is masked by significant increases in incentives.
"Consequently, net face rents have remained unchanged while effective rents have declined."
It also noted that negative net-absorption was recorded in the Australian markets due to weak demand.
Conditions in the domestic office market are expected to remain challenging, with DTZ tipping only small rental increases over the next five years.
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That comes despite its expectations that rental growth in Asia-Pacific will be the "strongest globally" over the next five years, driven by large uplifts in the Indian market.
"Occupiers in Australia are expected to benefit from the weakest regional rental performance," it concluded.
"The slowing economy and lack of demand drivers is likely to inhibit rental growth over the next five years."
On a positive note, DTZ's head of south-east Asia, Australia and New Zealand research, Dominic Brown said its research had also showed that the Sydney and Singapore markets had stabilised "at a low point, offering tenants excellent opportunities to lock in leases before market rents start to increase again.”
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Asia-Pacific region forecast to have largest average rental growth globally: DTZ Research

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<img style="display: block; margin-left: auto; margin-right: auto;" alt="cbre" height="116" width="200" src="/images/stories/2013/09/18/cbre.gif">Agent: Andrew Bahr
<img style="float: right;" alt="andrew-bahr-profile" height="200" width="200" src="/images/stories/2013/09/16/andrew-bahr-profile.jpg">
Position: Director of office leasing
Company: CBRE
Office Location: Adelaide
How long have you been in the industry?
Since 1996    
What’s happening in the area you specialise in?
I specialise in office leasing, fair to say the market is somewhat cautious at the moment, demand is conservative and it is taking a long time to convert transactions.  We have had to become more proactive and strategic in how we negotiate.
Describe the most interesting property you have sold?
Currently leasing 80 Grenfell Street, Adelaide’s newest office tower with construction due to be completed in November this year.  The quality of the offering, with large floor plates, stunning design and market leading environmental initiatives is creating a real talking point with perspective tenants.  The quality of tenant we are engaging with is excellent and their key issues are really the cornerstone to the building features.    
What are the ingredients to being successful in your job?
Hard work.  All too easy in a small market to sit back and “wait for the next brief”.  Critical to take a proactive approach, be involved in the market from the brokerage end up and talk to people face to face.  In a service based industry like real estate, you can learn more over a 20 minute coffee meeting than you’ll ever get out of emails and phone calls.    
What aspects of your role do you enjoy the most?
The thrill of the deal.  Most rewarding projects are the ones you work on from the ground up, from strategising, submitting, marketing, negotiating and signing the deal. After some 15 plus years I still enjoy meeting new people every day and being in a position to secure a positive outcome for them.    
Where would you invest a spare $750,000?
Set my family up in the family home for the next 20 years and a residential investment property.    
Which football team do you support?
Adelaide Crows    
What’s your favourite app or techno gadget?
Pandora music app.  Nothing like setting a music theme on the weekend and listening to what the app comes up with while you read the weekend papers over a coffee.    
How do you use social media?
Professionally – <a target="_blank" href="https://au.linkedin.com/pub/andrew-bahr/77/972/a65">LinkedIn</a>, socially – Facebook, a great way to keep in contact with overseas/interstate friends.  
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In profile: CBRE's director of office leasing Adelaide, Andrew Bahr

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One of Fremantle's oldest shopping centre’s - the iconic Atwell Arcade - has been put up for sale for the first time in 100 years, with price expectations of up to $10 million
The arcade, which fronts High Street Mall and Adelaide Street, sits on three separate titles and has a combined site area of 2,403 square metres.
The extended Atwell family has had an interest in the properties on this site dating back to the late 1890s. Major improvements, which include establishing the current arcade linkage, between High Street Mall and Cantonment Street were completed in the late 1970s.
The appointed selling agents are Miles Rowe &amp; Chas Moore from <a href="https://commercialpropertysearch.savills.com.au/151189/Sale/Fremantle/120-High-Street" target="_blank">Savills</a>. Among the tenants in the retail property are Culleys Bakery and Tea Rooms and City Beach.
The agents said the property provided a secure income stream to an investor, with opportunities to remix the tenancy profile.
Expressions of interest close on 3 October.
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Fremantle's Atwell Arcade listed for the first time in 100 years

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The Peninsula Nelsons Bay Motel &amp; Apartments and the Peninsula Palms Motel in Nelson Bay on the central coast of NSW has sold at auction in one line for $4.046 million.
Strong bidding for the properties, at 52 and 54 Shoal Bay Road, pushed the final sale price $1 million above the reserve. A Sydney motelier was the buyer.
The Peninsula Nelsons Bay Motel &amp; Apartments comprises of a range of family and queen 3.5 and 4 star suites, plus apartments.  The Peninsula Palms Motel is an older 2.5 star property with development or extension potential.
As part of the deal, the vendor - a local family - will continue to run the properties as is.
CBRE Hotel agent Andrew Jackson sold the properties, in conjunction with Ray Larkin of Manenti Quinlan &amp; Associates.
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Nelson Bay motels and apartments property complex sells for over $4 million

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Oil and gas company Vicon Services has signed a 10-year lease for a 1,500 square metre warehouse facility in Perth's Henderson
Industry sources estimate the rental agreement was struck at more than $340,000 a year.
The warehouse facility, at 923 Cockburn Road, sits on a 6,000 square metres site and is owned by private developer Alcom Properties.
Leasing agent John Zafiropoulos of Ray White Commercial Perth said Vicon Services had outgrown their facility at Welshpool in Perth and were in need of “a highly specialised site with hardstand, overhead gantry cranes and a high spec office to showcase their company".
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Vicon Services sign 10-year lease for Henderson warehouse

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The Silverwater industrial park is starting to command some of the highest rental prices in Western Sydney, following a spat of recent leasing deals.
Select Fresh Providores Pty Ltd has committed to a 10-year term on a 1,125 square metre office/warehouse facility, at 7 Rachael Close.
The net rental was negotiated at $145 square metres annually – a $20 per square metre increase from the last time the building was leased four years ago.
In a separate deal, Audio, lighting and video service provider Lots of Watts signed a four-year lease at the industrial park for a 1,677 square metre warehouse/office property, at 18 Fariola Street (pictured below). The net rental was struck at $130 square metres annually.
<img src="/images/stories/2013/09/11/silverwater_sept_1.jpg" width="470" height="353" alt="silverwater_sept_1">
CBRE's Michael O’Neill and Shaun Timbrell negotiated the leases.
The Silverwater industrial estate - owned by APPF Industrial Fund, is said to attract rents of about $10 more per square metre than the average in the area.
CBRE is expecting the strong tenant demand brought on by a multi-million-dollar revamp currently underway to drive up rents even further.
The Silverwater Industrial Estate is about 36,000 square metres in size and comprises of 18 individual tenancies.
The revamp is being undertaken in stages and is expected to be completed by late 2013, "resulting in a substantial invigoration of the general industrial area bound by Fariola Street, Slough Avenue and Rachael Close", said Mr Timbrell.
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Silverwater industrial park commanding some of Sydney's highest rental prices

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The Melbourne office market has become the focal point of offshore buyer activity, with more than $100 million worth of office stock changing hands in the past week.
In the latest transaction, a Singaporean listed company Hotel Grand Central has purchased a strata office building in the heart of the city for $48.5 million.
{yoogallery src=[images/stories/2013/09/10/melb]}
The 300 Flinders Street (pictured above) transaction comes just a day after Hiap Hoe - another listed Singaporean property company - made a $43.8m purchase of an office building in nearby, 380 Lonsdale Street (pictured below).
<img src="/images/stories/2013/09/10/melbourne_sept_10_four.jpg" width="470" height="351" alt="melbourne_sept_10_four">
At $48.5m, the 300 Flinders Street deal represents one of the largest transactions in the city for a strata property.
The 12-storey strata building is owned by the Victoria University and was sold on a yield of 8.3%, through selling agents Clinton Baxter and Nick Peden of Savills.
The agents noted that while the property attracted numerous tenders from local and offshore parties, the strongest bidding came from Singapore an Malaysia.
Research from Savills showed that foreign investment in Melbourne’s CBD is at record levels. It estimates the foreign ownership market share is around 25% so far this year, following a spending spree of upwards of $260 million since the end of June.
On the same day the Flinders St transaction was revealed, a private developer based in mainland China snapped up a prime Bourke St office building for $15 million.
{yoogallery src=[images/stories/2013/09/11/melb]}
The 472 Bourke Street property (picture above), formerly known as Equity Chambers, sits on an 1162 square metre site with "significant development potential", according to the Savills selling agents, who also negotiated the sale.
"There are many reasons behind these recent sales, chief among them being Melbourne’s nomination as the world’s most liveable city for the third year in a row, access to our highly regarded education sector, and the low Australian dollar which is providing exceptional value for off-shore buyers due to the favourable exchange rate"' said Mr Peden.
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Melbourne office market hub for offshore buyer activity

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South Australia has its first 5.5 NABERS rated office building in the state. The 151 Pirie Street office tower in Adelaide's CBD achieved the 5.5 star NABERS Energy Base Building Rating, without the need to purchase green power.
Among some of the green initiatives the owner- German fund manager Real I.S. Group - undertook included the use of solar photovoltaic cells, energy efficient lighting in the common areas, as well as sub-metering of the tenant condenser water loop and a rooftop solar installation to provide renewable energy for the base of the building.
CBRE regional director Of technical services, Nick Mavropsi said there had been an overriding focus on managing the property effectively to minimise energy without compromising tenant environmental conditions.
The 12,500 square metres building (pictured below) was originally designed to achieve a 4.5 star NABERS Energy Base Building Rating.
<img src="/images/stories/2013/09/11/1.jpg" width="470" height="532" alt="1">
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Adelaide's highest rated green office building

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.

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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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