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Some of Melbourne's most favourite retail high streets have experienced a significant jump in vacancies, most notably Bridge Road in Richmond.
The once popular discount fashion precinct, Bridge Road, recorded it's highest ever vacancy rate, according to the latest research from Knight Frank.
Vacancies along Bridge Road climbed to 16.5%, up from 11.5% a year earlier. And the research also showed that the strip had the highest churn rate at 11.9%, reflecting to the change of occupants.
Knight Frank Victorian research director, Richard Jenkins, said that Bridge Road’s loss of identity as a discount fashion destination as a result of the emergence of DFO centres had fuelled the rise in vacancy in recent years.
Other retail strips to record a spike in vacancy rates were Toorak Road in South Yarra, with vacancies nearly doubling to 12.8%; Glenferrie Road, Malvern rose from 3.6% to 6.2% while High Street, Armadale increased from 3% to 6.4%.
The emergence of online retailing was also partly blamed for fashion focused strips struggling.
But it wasn't all bad news for the high streets of Melbourne.
Burke Road in Camberwell; Puckle Street, Moonee Ponds; Acland Street, St Kilda; Clarendon Street, South Melbourne and Church Street, Brighton all experienced vacancy falls.
Mr Jenkins said the strips which recorded falls in vacancy rates all had a higher exposure to food and convenience based retailers, demonstrating the strength of the non-discretionary retail sector.
The Knight Frank research showed that Church Street in Brighton recorded a fall from 1.7% to 1.2%, as did Clarendon Street in south Melbourne, down from 6.2 % to 4.1%. Acland Street was stable at 2.8%.
Mr Jenkins said the outlook for many of those prime retail strips was "positive", pointing to new apartment developments coming on stream, "boosting the surrounding local population."
Rents in Chapel Street remain the highest, achieving rental levels of $1,000 per square metre per annum, whereas other strips such as Puckle Street, Moonee Ponds achieve rents of around $650 per square metre.
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Bridge Road, Richmond records highest ever retail vacancy rate: KnightFrank

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South African hotel baron Sol Kerzner has entered into an agreement with Malaysian-backed company Mulpha Australia to assume management of one of Australia's most prized luxury Island resorts - Hayman Island.  
Under the deal announced today between Mulpha and Mr Kerzner's international hotel group, Kerzner International, the iconic resort will undergo a multi-million dollar renovation and be re-launched as One&amp;Only Hayman Island in April 2014 - the first of its kind in Australia.
Mulpha will maintain full ownership of the island and the resort.
Mulpha executive chairman Seng Huang Lee described the partnership as the start of a "new era for the resort under their One&amp;Only brand”.  
Kerzner International’s One&amp;Only brand - located in the Bahamas, Mexico, Mauritius, the Maldives, South Africa and Dubai - is considered to be one of the finest luxury resort properties in the world and known for its "blow away the customer" experience.
Mr Kerzner was not available for immediate comment but sources told Property Observer he is due to arrive in Australia later this month for a three day visit.
Kerzner International chief executive Alan Leibman said Hayman was the perfect destination for the first One&amp;Only brand in Australia and “I know the resort will be well received by our many loyal One&amp;Only guests, as well as guests that have been enjoying Hayman for years."
“My personal commitment is to make One&amp;Only Hayman Island a must stay for the well-travelled to explore the wonders of this magnificent destination.”
DBI Design, in partnership with the Kerzner International Development Team, has been engaged for the interior design and landscape architecture for the resort’s rebirth.
In a glimpse of what is to come, the new Hayman rooms and Hayman suites, featuring ocean and lagoon views, will be introduced with reimagined interiors and amenities and the iconic pool will be renewed. A variety of world-class cuisines overseen by internationally acclaimed chefs will also be introduced, along with a One&amp;Only Health Spa.
As part of the ongoing development and investment programme, Mulpha will continue a staged rollout of the ultra- luxury Hayman Private Residences and Hayman Marina Residences offering private ownership opportunities for select clients and guests.
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Sol Kerzner finalises Hayman Island management agreement

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On the surface, the Brisbane CBD office market has all the appearance of a market on the nose. 
At 14.2%, the city has the highest vacancy rate in the country and a shrinking public sector but new research from Jones Lang LaSalle paints a vastly different picture of the Brisbane market.
<img src="/images/stories/2013/09/04/chart-of-the-week-sept-4.jpg" width="470" height="267" alt="chart-of-the-week-sept-4">
Analysis of the office market showed a "broadly negative correlation between floor plate size and the vacancy rate," said the author of the report, Peter Gueverra, who is a senior market research analyst at JLL.
Specifically, he said the vacancy rate in buildings with floor plates of greater than 1,500 square metres  - which accounted for around a quarter of all stock - was just a  low 5.5%.
In stark contrast, the vacancy rate in buildings with smaller floor plates of less than 1,000 square metres was considerably higher at 19.2%.
<img src="/images/stories/2013/09/04/chart-of-the-week-sept-4.-two.jpg" width="470" height="272" alt="chart-of-the-week-sept-4.-two">
Mr Guevarra described the market's vacancy profile as "fragmented", and said that posed "significant implications for both occupiers and investors."
"Relatively tight vacancy in prime assets with large floor plates of greater than 1,500 square metres means there are very few immediate options available for larger corporate occupiers."
At the end of the June 2013 quarter, larger occupiers were limited to just four buildings with floor plates over 1,500 square metres, JLL highlighted.
Looking ahead, vacancy in buildings with larger floor plates of greater than 1,500 square metres is tipped to remain "tight".
JLL is forecasting 2013 to be at the “trough of the demand cycle", with tenant demand expected to increase moderately through to 2015. It also points out that no new major supply was expected to enter the market over the next two years, with the "supply cycle forecast to reach its trough level next year."
Only three major developments are due to hit the market over the next three years - namely  Daisho’s 58,000 square metre speculative development, at 180 Ann Street, which commenced without a tenant pre-commitment and DEXUS’ 55,000 sqm project, at 480 Queen St, which is 38% pre-leased to multiple tenants.  The third and already fully leased project is Cbus’ 75,000 square metres project at 1 William St.
Another interesting set of numbers within the research was the divergence in the vacancy rates for prime buildings with floor plates of between 1,000 square metres and 1499 square metres, compared to equivalent secondary space. The vacancy rate for prime vacancy space was just 9.5%, while the equivalent secondary market was a massive 26%.
“There may be an opportunity for investors to acquire and upgrade B-grade assets into A-grade within this floor plate cohort," said Mr Guevarra. "The wide spread between prime and secondary vacancy makes upgrading assets particularly attractive at this time".
However, he cautioned that risks remained for investors. "While we expect some demand to return over the next two and half years, further office rationalisation may continue,” he said.
"Resource sector tenants may continue to postpone or scale back office expansion plans, while the public sector may also continue to reduce its office footprint with further moderate consolidation into existing offices."
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Fragmented Brisbane CBD office market shows correlation between size and vacancy: JLL

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<img style="display: block; margin-left: auto; margin-right: auto;" alt="colliers-logo" height="194" width="300" src="/images/stories/2013/09/04/colliers-logo.jpg">
Agent: Ben Tana<img style="float: right;" alt="ben-tana-in-porfile" height="200" width="200" src="/images/stories/2013/09/04/ben-tana-in-porfile.jpg">
Position: Manager, Retail Sales &amp; Leasing
Company: Colliers International WA
Office location: Perth
How long have you been in the industry?
Since 2000
What’s happening in the area you specialise in?
It’s an exciting time to be working in CBD retail leasing in particular, dealing with some really big international names who are seeking space in the city. Once they’ve locked their deals away in Sydney and Melbourne the next box to tick is WA, and we’ve seen some big news in recent months with the likes of Zara and Topshop reportedly settling on premises in the CBD.
Enquiry for food and beverage in the city is also very strong – we’ve got a vibrant restaurant and small bar scene emerging in Perth, so there’s lots of activity on that front too.
Describe the most interesting property you have leased?
Introducing Scanlan &amp; Theodore to Bayview Terrace in Claremont in 2004 – that deal started a real domino effect, with new retailers rushing to get into the precinct, and it was a great example of how the arrival of one brand can really lift and change an area.
What are the ingredients to being successful in your job?
Relationships, first and foremost. Having and maintaining strong relationships with both landlords and retailers, and providing top service – being professional, responsive and giving 110% on everything for both parties at all times.
What aspects of your role do you enjoy the most?
Being able to create change, or kickstart momentum for change, by introducing new retailers or brands and seeing them lift the profile and activity in an area.
Where would you invest a spare $750,000?
I’d invest half in a Primewest syndicate and put the rest towards my mortgage.
Which football team do you support?
West Coast Eagles.
What’s your favourite app or techno gadget?
My laptop.
How do you use social media?
I haven’t got into Twitter, but I do use Facebook and Instagram. <a target="_blank" href="https://www.linkedin.com/profile/view?id=195319822&amp;authType=name&amp;authToken=MbqK&amp;goback=&amp;trk=abook_conn">I also use LinkedIn</a> to connect professionally.
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In profile: Colliers International WA's retail sales and leasing manager, Ben Tana

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Sol Kerzner's international hotel group Kerzner International is expected to make an announcement on its rumoured acquisition of Hayman Island in the Whitsundays next week.
Reports emerged yesterday in The Australian Financial Review that the South African hotel billioniare was in talks to buy Hayman Island from Malaysian investment group Mulpha Australia.
A source close to the international hotel group told Property Observer that an announcement would be made next week, possibly on Wednesday.
Kerzner International declined to comment on the speculation.
It was reported that top federal and state tourism bureaucrats were meeting with Kerzner International executives in the coming weeks and that once a deal was completed, Kerzner would close the island from January next year to complete three months of further renovations.
<a target="_blank" href="https://www.propertyobserver.com.au/news/august-27-news-sol-kerzner-rumoured-buyer-of-hayman-island-in-whitsundays/2013082664568">Mulpha Australia purchased the Hayman in 2004</a>.
 
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Hayman Island sale annoucement tipped for next week

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<img style="display: block; margin-left: auto; margin-right: auto;" alt="ray-white-retail" height="33" width="200" src="/images/stories/2013/08/ray-white-retail.jpg">
Agent: Mark Greer<img style="float: right;" alt="Mark-Greer-Profile-pic" height="200" width="200" src="/images/stories/2013/08/Mark-Greer-Profile-pic.jpg">
Position: Director – Retail Investments
Company: Ray White Retail
Office Location: Brisbane    
How long have you been in the industry?
Over 25 Years  
What’s happening in the area you specialise in?
The only certainty in retail is change. The impact of online retailing has required retailers to continue to adapt their model, creating new selling and distribution opportunities. Currently online retail represents 6% of all retail sales ($13.5 billion) and growing compared to over $200 billion in traditional retail sales.
The retail property industry is going through continual evolution reflecting the social, economic and technological changes in society; these changes provide new development and investment opportunities. Some retail outlets embrace this change better than others, for example, specialists vs. generalists. Companies such as Apple with an annual turnover of over $120 billion and growing are outperforming traditional retail outlet such as department stores.
Describe the most interesting property you have sold.
The site located on the corner of Queen, Edward and Adelaide Street we initially sold in receivership which now houses the iconic “Queens Plaza” shopping complex in the heart of the Brisbane CBD. The site included a multitude of tenants and buildings across different titles. A deal needed to be structuredthat allowed the developers to unlock the true potential of the site through a staged development, ultimately maximising the return to the receivers and developers.
What are the ingredients to being successful in your job?
• Listen to the needs of your clients
• Have a true passion for yours, your clients and colleagues’ success
What aspects of your role do you enjoy the most?
Creating new concepts and opportunities to reflect the changes in the market place, whilst working with an enthusiastic and creative team to unlock the full potential of business opportunities.
Where would you invest a spare $750,000?
I would invest in the Gold Coast property market which has recently suffered as a result of the GFC. We believe the Gold Coast property market will rebound as a consequence of the falling interest rates and falling dollar, and ultimately lead to an increase in tourism. It is predicted a subsequent resurgence of the economy will result in due course.
Which football team do you support?
The Queensland Reds
What’s your favourite app or techno gadget?
I live off my iPhone in terms of work, media, photography and entertainment.
How do you use social media?
<a target="_blank" href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/mark-greer/35/6a0/882">LinkedIn</a> for business, Twitter for entertainment and news, and Skype for family communication either overseas or interstate. It is very much an evolving interest; subject to the benefits of the various mediums.
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In profile: Ray White Retail's director of retail investments, Mark Greer

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International health and fitness club Anytime Fitness has leased 557 square metres of retail space in Adelaide's suburb of Unley.
The property, at 14 Arthur Street, is adjacent to Unley Shopping Centre and has been leased for a term of 7 years, at an annual net rent of $130,000.
Jones Lang LaSalle agent Robert Parkinson's negotiated the lease.
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Anytime Fitness leases Unley retail space

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Gym operator Snap Fitness has secured 350 square metres of retail space in Melbourne's leafy suburb of South Yarra.
The retail property, at 9/11 Clarendon St, is part of the 850-square-metre Dutton luxury car showroom, which is relocating to Richmond in 2014.
Under the leasing deal, Snap is taking a 10-year lease on the property. It is understood the owner was targeting a rent of $800 per square metre.
The lease was negotiated by CBRE's Zelman Ainsworth.
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Snap fitness secures South Yarra retail leasing

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The owner of prominent bakery business Glick's Cakes and Bagels has put up for sale its head office in Melbourne's Carnegie for about $7 million.
The 4,147 square metre site at 1056-1060 Dandenong Rd, has development approval for a 10-storey apartment building for 174 units.
CBRE's Justin Clarkson and Mark Wizel have been appointed selling agents through an expressions of interest closing on 26 September.
"The development package has all the elements of a significant, landmark residential project in a rapidly growing area which continues to benefit from the nearby and expanding Monash University," said Mr Clarkson.
"By 2030, the Caulfield campus will grow by 87% in size, with this property ideally positioned to take advantage of the growing number of students attending Australia's largest university."
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Carnegie's Glick's Cakes and Bagels head office listed with student accommodation prospects

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A heritage listed retail property in Melbourne's Camberwell Junction has sold under the hammer for 30% above the reserve price.
The retail property, on the corner of Burke and Riversdale Road, was sold to local private investor for $3.6 million, on a tight yield of 4.56%.
The hotly contested auction drew more than 70 bids, with several serious bidders, said Savills selling agents Nick Peden and Clinton Baxter.
The 250 square metre property is leased to restaurant Meat &amp; Wine Co and is subject to a 10 year lease at a current net rental of $164,117 per annum. The lease has fixed annual increases of 4%.
Mr Peden said the sale price was a signal that the market was very strong, buoyed by the low interest rate environment.
While Mr Baxter added that both the record low yield of 4.5% and the building rate of $14,400 a square metre were signs that good quality retail investments were in high demand and buyers were confident of the market outlook.
The 1885-built church-like structure is the former English, Scottish and Australian Bank. <a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-camberwell-500820651">The brick building</a> is somewhat awkwardly wedged in to the<a target="_blank" href="https://www.propertyobserver.com.au/victoria/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell/2012110757688"> newly built Aerial residential development</a>, retained as a concession to the rich heritage of the area.
It was the subject of a $500,000 renewal in 2009 during the construction of Aerial.
In 2007 planning minister Justin Madden intervened in the VCAT case surrounding the $150 million development to push it through following strong community opposition <a target="_blank" href="https://www.propertyobserver.com.au/developments/completion-of-fkps-apartment-project-aerial-in-camberwell-junction-delayed/2012062255229">though it still suffered from construction delays</a>.
It was designed in the picturesque Gothic style by architects William Wardell and W L Vernon. Wardell was responsible for a number of buildings around Melbourne.
According to Heritage Victoria the branch was responsible for facilitating much of the suburban building boom in the area after the extension of the railway line from Hawthorn in 1882.
The sale includes nine secure car parks.
The Aerial development, by Queensland developer FKP, has 144 apartments and nine shops.
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Heritage listed Camberwell Junction retail site sold for $3.6 million

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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