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A late 19th century retail and office building on George Street in the Brisbane CBD has sold to Taiwanese investors for just $25,000 more than its previous 2007 selling price.
Flight Centre Properties sold the 292 square metre refurbished four story building at 181 George Street to local Brisbane family almost six years ago for $2.375 million, having paid just over $1 million in 1990.
The sale price equates to annual capital growth of 0.18% - a substantial loss when transaction and maintenance costs over the past six years are taken into account.
<img alt="130710_181_George_St" height="480" width="275" src="/images/stories/2013/larry_uploads/130710_181_George_St.jpg">
The sale took place just before the commercial property market tumbled in the wake of the GFC.
The transaction was negotiated by Ray White Retail investment director Mark Greer and associate director Andrew Adnam.
Located opposite the Treasury Casino, it sold on a yield of around 5% , which Greer says is "reflective of current and future development in the precinct".
It is occupied by Flight Centre, Bean Café and 888 Agency. “The sale is indicative of the proposed and current development activity in the George Street precinct and represents positive investment for Brisbane’s CBD,” Greer said.
“George Street was the city epicentre during the 1940’s and 50’s and has recently experienced heightened investment and development interest.
“We experienced extensive interest in the building from both Australian and international parties and believe Brisbane will continue to see investment demand, particularly in the George Street precinct.”
“The development of 1 William Street by the state government, the Supreme Court and billion dollar proposed casino development as well as the recently completed Taxation Office, Brisbane Square and 400 George St are all contributing to George Street returning to the thriving city precinct that is was some 70 years ago.”
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Brisbane investors takes hit on sale of historic 181 George Street Brisbane building

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Conditions in the housing sector “continued to improve gradually” with house prices rising in the June quarter, according to the minutes of the RBA's July monetary policy meeting, where the cash rate was left unchanged at 2.75%.
The RBA notes that the effects of lower interest rates "were most evident in the housing market and were expected to be apparent in further growth in dwelling investment".
Once again, the minutes provide room for the RBA to cut rates further if required, though the July minutes do note that the inflation outlook is “slightly higher because of the exchange rate depreciation”.
While the July minutes highlight rising dwelling prices (compared with them being deemed flat in the June minutes), they also note that “dwelling investment was flat in the March quarter with continued growth in investment in new dwellings “offset by lower spending on alterations and additions”.
The outlook though for new residential construction remains positive.
“Forward-looking indicators for new construction continued to be favourable, with the number of building approvals increasing strongly in April and loan approvals rising noticeably over recent months, including for new dwellings,” notes the RBA.
“Dwelling prices increased over the June quarter and auction clearance rates remained high by historical standards. This was consistent with the Bank's liaison with builders, which suggested that housing conditions had improved further in most states.”
The July minutes continue more or less where the June minutes left off in relation to the housing market.
In June, the RBA provided an overall positive assessment of trends in the property market noting that “effects of low interest rates had been evident in a range of housing market indicators”.
The effects of lower rates were still apparent "across a range of indicators and, given the lags involved in the transmission of monetary policy, this process had further to run" says the RBA in its July minutes
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“Gradual” improvement in housing conditions as dwelling prices rise: RBA July minutes

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Don't ever expect Australian banks to ever talk down the property market.
The following graph, prepared as part of a report by Tony Hughes, managing director of Moody's Analytics, shows the degree to which Australian banks are leveraged to the property market compared with other countries.
As can be clearly seen, Australian banks have almost two-thirds of their lending tied to the residential property market, compared with just over 40% in Canada, 35% in the US and less than 20% in Germany and the UK.
<img alt="aussie_banks_mortgaged" src="/images/stories/2013/larry_uploads/aussie_banks_mortgaged.jpg" width="470" height="313">
"The high degree of exposure to the domestic mortgage market raises many concerns," writes Hughes.
"Recent experience has shown that house prices can fall significantly and trigger serious banking meltdowns.
"But what are the chances of a similar housing collapse in Australia?
"Many international analysts think the chances of an antipodean housing bust are quite high—it would take a bold economist who has been in a decade-long coma to declare that an Australian housing correction was impossible. When trends in Australian house prices are compared globally, the signs look worrying.
"House prices have increased for longer and faster than in many of the markets where prices cratered during the Great Recession," he says.
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Australian banks way ahead of global rivals on property market exposure: Moody's

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The Melbourne residential vacancy rate increased from 2.7% in May to 2.9% in June, as the rental market eased slightly in June, new figures from SQM Research show. 
A vacancy rate of 3% is considered to indicate a balanced market between renters and landlords.
In total 12,459 rental properties were vacant in Melbourne in June. 
Nationally, the vacancy rate increased by 0.1 percentage points to 2.2% in June with a total of 63,320 rental properties vacant nationwide over the month. 
The rising vacancy rate is expected to put pressure on rents rising further in 2013 and possibly also in 2014. 
Rental pressures eased in Sydney (1.8% to 1.9%), Perth (1.3% to 1.5%), Brisbane (1.9% to 2.1%) and Canberra (1.5% to 1.7%). 
Darwin’s property market swung further in favour of investors with vacancies falling from 1% to 0.8% in June with just 196 properties vacant.  However the Darwin vacancy rate is double what it was a year ago. 
Hobart was the only other capital city market to record a tightening in its vacancy rate from 2.7% to 2.5%. 
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif" rel="shadowbox"><img src="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif"></a>
SQM Research notes that Canberra’s vacancy rate is up 0.9 percentage points over the past year while Perth’s vacancy rate is up 0.8 percentage points - a “side effect of the slowdown in Australia’s commodities boom, as many of the nation’s mining towns are located in that part of the country”. 
“As stated with May's result, it has become apparent that vacancy rates are now rising. Causations behind the rise vary from city to city,” says Louis Christopher, managing director of SQM Research. 
“For example the rises in Melbourne and Canberra are as a direct result of rises in completions of new residential dwellings throughout 2012 and early 2013. The rises in Perth appear to be more demand related. 
“The net result out of this is that rents will struggle to rise for the remainder of this year and 2014 could see zero rental growth as an average for the capital cities. 
“Indeed, we have evidence rents are already falling in at least one city, being Canberra.”
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
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Melbourne leads continued easing of rental market with rents unlikely to rise until 2015: SQM

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Most real estate agents and auctioneers selling commercial and rural property will be required to continue to hold a real estate licence in a move designed to protect small investors.
The recommendation is included in the Decision Regulation Impact Statement, which the Council of Australian Governments (COAG) will consult in determining the final framework for national licensing of property occupations.
The earlier draft Regulation Impact Statement had recommended that non-residential or commercial property be excluded from national licencing on the basis that the work they does not fit “within the usual consumer protection framework that underpins licensing of property occupations”.
However, this position has been reversed following views expressed in public consultations and submissions that were “strongly supportive of the inclusion of non-residential property work in the scope of regulated work of real estate agents, agent’s representatives and auctioneers agent’s representatives and auctioneers”.
A strong driver of this reversal was a desire to protect small investors involved in transactions under $1 million.
The National Occupational and Licensing Authority notes a submission from the Real Estate Institute of Australia (REIA), providing “informative data on the monetary amounts for non-residential property sales, which was not available when the Consultation RIS was drafted.
“The data shows that the majority of sales are under $1 million, (and 97% are under $10 million).
“There was also a strong view that the buyers and sellers of non-residential property work were  generally small investors and not necessarily experienced or sophisticated consumers, and the new data appears to support this view,” says the Decision Regulation Impact Statement.
“Based on the evidence above and the risk to consumers, it is proposed that non-residential property work will be included in the scope of regulated work of a real estate agent and an agent’s representative with an exclusion from the requirement to be a licensed agent for certain non-residential property transactions.
“The thresholds for the transaction will be based on either a monetary value or an area of property.”
A figure of at least $10 million has been proposed as the base point for developing the prescribed monetary exemption, and an area of 10,000 square metres is proposed as the base point for the prescribed area.
“The impact of removing licensing for these large types of transactions would be minimal, given the small number of transactions above $10 million and has not been quantified in this RIS.”
These monetary and area size exemptions do not apply to rural sales, all of which will require that the agent is licensed.
An exemption is also proposed for non-residential property transactions between related entities.
The Decision Regulation Impact Statement provides the example of the employees of Westfield Shopping Centre Management, managing or leasing shopping centres within the Westfield Group, or employees of AMP Office and Industrial managing and leasing commercial offices on behalf of its related AMP.
Exclusions will be set out in amendments to the national law.
The Decision Regulation Impact Statement can be <a href="https://nola.gov.au/files/2013/07/DRISproperty.pdf">read in full here</a>.
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Commercial and rural property agents to keep their real estate licences in a move to protect small investors

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Real estate businesses will come under scrutiny from ATO to ensure they are meeting their employee superannuation guarantee obligations.
The ATO's 2012-13 compliance program identifies real estate businesses, café and restaurant operators and carpenters as the businesses most at risk of non-compliance.
“This year we will review, in focussed superannuation guarantee audits, around 400 high risk employers where we find evidence of non-compliance, particularly in the industries where we have previously focused communication activities including cafes and restaurants, real estate businesses [and] carpentry businesses in home building or construction,” says the ATO.
“Employers play a major role in the integrity of the superannuation system by paying superannuation guarantee contributions on behalf of their employees. Where employers fail to pay contributions for eligible employees to nominated funds, they must pay a superannuation guarantee charge to the ATO.”
The ATO makes it clear that it has the technology and access to information to catch out those who are not meeting their super obligations:
“We match information in tax returns and business activity statements with details of transactions reported to us by a wide range of third parties, including:
<ul>
<li>payments and grants by other government agencies</li>
<li>payments by businesses to contractors </li>
<li>income from investments and partnership and trust distributions </li>
<li>property and share transactions n cross-border transactions and international funds transfer. </li>
</ul>
“This range of information means we can build a complete picture of every business, including income earned, investment details, acquisition or disposal of assets such as real estate, cars and boats, and business connections,” says the ATO.
Super compliance checks of real estate agents will be carried out as part of broader employer obligations reviews involving some 3,000 employers.
“We will also check that these employers are complying with their obligation to provide employee tax file numbers to superannuation funds.
“Last year we also followed up complaints about unpaid superannuation with around 12,000 employers, mainly micro enterprises. This year we expect to contact around 13,000 employers regarding complaints about unpaid superannuation," says the ATO.
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Real estate businesses facing ATO super compliance crackdown

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Property developers have been singled out for special attention as part of the Australian Tax Office’s (ATO) 2012-13 compliance program.
The compliance program identifies the most significant risks to compliance with the tax and superannuation systems.
In examining 2012-13 tax returns, the ATO says it will increase its focus on “property developers with a history of non-compliance”.
“By engaging with taxpayers at registration and throughout the property lifecycle, we will encourage them to correctly assess and report their liabilities and, where necessary, require them to provide security bonds against projected future tax liabilities,” says the ATO.
The ATO will also seek to clamp down on illegal “phoenix” activity having identified over 2,000 property developers who "placed companies in liquidation with outstanding GST obligations on multiple occasions".
Phoenix activity is when a company deliberately goes into liquidation, leaving its debts behind, while the assets are shifted into a new entity that begins trading again, often under a similar name.
The ATO plans to conduct over 200 reviews and audits as part of its efforts to reduce fraudulent phoenix activity.
“The most serious cases will be prosecuted. We will also be increasing the use of legal collection processes against phoenix company directors, including director penalties,” says the ATO.
“Fraudulent phoenix activity involves the deliberate liquidation of a business entity to avoid financial obligations, including tax and superannuation liabilities, without risking the operator’s assets and with the full intention of resuming business operations through a new entity,” says the ATO in its latest compliance program.
“Liabilities are ‘parked’ in the liquidated business and the underlying business activity is resumed free of liabilities.
In an earlier statement this year, the ATO said it would focus on property developers who “cheat the community by not reporting GST on property sales and pocketing the GST paid by consumers”.
The ATO says it has enhanced its intelligence-gathering and analysis capabilities to “more effectively identify and monitor fraudulent phoenix operators with the aim of deterring potential phoenix activity before it occurs”.
It has an additional $552 million at its disposal over the next five years (2011-16 financial years) to administer the GST voluntary compliance program.
The compliance program mentions that a referral from the Northern Territory Revenue Office (at the centre of surging property prices)  "initiated a series of audits on property developers disengaging from the tax system and thus evading payment of income tax and GST on property sales, resulting in revenue of approximately $5 million with potential compliance impacts for state stamp duty and land tax".
Other continuing compliance activities relating to property transactions include:
<ul>
<li>expanding and improving the use of third party information to identify unreported sales, particularly in the case of one-off property transactions</li>
<li>working with taxpayers and their tax agents to alert them to discrepancies before audit action n identifying incorrect application of the margin scheme provisions to reduce the GST payable on property sales</li>
<li>undertaking approximately 1,000 reviews and audits</li>
<li>providing greater certainty for taxpayers on the treatment of transactions associated with commercial residential premises through the publication of the final commercial residential ruling in August 2012.</li>
</ul>
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Property developers to face increased tax scrutiny as ATO targets illegal “phoenix” arrangements

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The Tower Estate Winery portfolio in Pokolbin in the Hunter Valley, founded by celebrated wine-maker Len Evans and majority owned by former News Corporation chief executive and chairman Ken Cowley, has been listed for sale.
The buyer interest is expected to come from Asian investors as well as local buyers.
The portfolio includes Tower Lodge and Tower Estate Winery, Peppers Convent guesthouse (pictured below) and the building which houses the well-known Robert’s Restaurant. 
<img src="/images/stories/2013/07/peppersjuly16one.jpg" width="470" height="683" alt="peppersjuly16one">
Ken Cowley now owns around 60%, with American businessman and restaurateur David Doyle, co-owner of Rockpool Bar &amp; Grill and the celebrity chef Rick Stein the next biggest shareholders, each with 10%.
The Barnes family trust associated with News Corp director Peter Barnes, the managing director of Grant Samuel, Ross Grant and headhunter Andrew Banks at Talent2 are also among its listed shareholders.
Len Evans' widow Patricia and his daughter Sally retain a small equity holding, some seven years after his death.
Originally set up in 1999, early shareholders included renowed Hunter Valley winemaker Brian McGuigan and businessmen John David, Basil Sellars and Bill Roche.
It is currently managed and directed by Matt Cowley, the son of Ken Cowley.
The sale campaign followed a decision by the shareholders in Tower Estate to sell the properties to new investors.
The offering comprises a mix of freehold and community title land totaling 21.75 hectares on the corner of Halls and Broke Road in Pokolbin and is made up of
<ul>
<li>The Tower Lodge and Tower Estate Winery situated on a 16.19 hectare freehold lot. The Lodge comprises 12 luxurious guest rooms, the renowned Nine Restaurant, conference facilities and heated pool, spa and sauna and a two-level manager’s apartment. </li>
<li>The Tower Estate Winery rated 5 star by James Halliday, including a modern 300 tonne capacity winery, a few small vineyards and a detached storage building.</li>
</ul>
<ul>
<li>Peppers Convent – the former home of the Brigidine Order of nuns, which was transported to Pokolbin in 1995 and restored as a five-star guesthouse.</li>
<li>Robert’s Restaurant – consists of the Ironbark cottage built in 1876 and a larger main dining room built in 1995.</li>
<li>The restored Welsh Baptist Chapel built in 1888 as well as the Robert’s Vineyard.</li>
</ul>
The properties are being offered for sale by expressions of interest, either individually or in one line, in a campaign closing August 27, 2013 and being led by CBRE Hotels regional director Rob Cross.
He expects the portfolio will generate significant interest from high net worth private investors, both locally and from offshore. 
“Given the trophy nature of the portfolio and its premier location in the heart of the Hunter, we have already fielded strong preliminary buyer interest from investors wishing to gain a foothold in one of Australia’s most recognised wine regions,” Cross said. 
“The portfolio represents one of the country’s best luxury boutique wine estates, including some of the most luxurious accommodation in the Hunter and a restaurant which is consistently rated as one of the region’s finest dining venues.” 
Co-selling agent, Jurd’s Real Estate principal Alan Jurd said the winery was located on a prime corner site regarded as Pokolbin’s “golden mile” and there was potential for future expansion.
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Rick Stein and co selling Tower Estate Winery portfolio and may tempt Asian buyers

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<img src="/images/stories/2013/07/savillslogo.jpg" width="200" height="200" alt="savillslogo" style="display: block; margin-left: auto; margin-right: auto;">
Having spent nearly 10 years at Harry Triguboff's Meriton group, Alex Adams says his most interesting project was the iconic Meriton World Tower in the Sydney CBD.
<img src="/images/stories/2013/07/alexadmasheadshot.jpg" width="100" height="100" alt="alexadmasheadshot" style="float: left;">Agent: Alex Adams

Position: Director - Residential site sales at Savills Australia and New Zealand

Company: Savills

Office location: Sydney
How long have you been in the industry?   12 years
What’s happening in the area you specialise in? There is an unprecedented demand for Residential and Mixed Use development sites. It is a very good and strategically sound time to launch our new specialised division within Savills. Describe the most interesting property you have developed: Most interesting property to work on was Meriton’s World Tower. Was an eye opener and a great learning experience. What are the ingredients to being successful in your job? Be persistent, be patient, work smart, know what is going on around you and know your competition. What aspects of your role do you enjoy the most? The most satisfying part of what i do is seeing an idea, a concept, turn into a reality.
Where would invest a spare $750,000? I would look at optioning a development site... and a holiday. Which football team do you support? St George Dragons What’s your favourite app or techno gadget? Galaxy Note 2 How do you use social media? Not as often as I should. I will be changing that. Connect with Alex on Twitter: <a target="_blank" href="https://twitter.com/Aleko_Adams">@aleko_adams</a>
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In profile: Savills' head of residential site sales, Alex Adams

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The value of total commercial finance commitments rose 2.5% in May, following a rise of 2.7% in April, a rise of 2% in March and a 1% rise in February, the latest ABS lending finance figures show.
Fixed lending commitments rose 7.4%, following a rise of 0.9% in the previous month.
Revolving credit commitments fell 11.5%, after a rise of 8.3% in the previous month.
The value of commitments for the purchase of dwellings by individuals for rent or resale (using commercial finance) rose 1.5% in May 2013 on a trend basis and the seasonally adjusted series rose 0.8%.
In seasonally adjusted terms, the value of total personal finance commitments fell 3.1%. Revolving credit commitments fell 6.2% and fixed lending commitments fell 0.9%.
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Commercial lending up 2.5% in May: ABS

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]

Larry Schlesinger

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