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Insolvency firm TPH Insolvency has leased the lower ground floor in heritage-listed History House, the Sydney headquarters of the Royal Australian Historical Society (RAHS) on Macquarie Street, designed by renowned 19th century architect George Allen Mansfield. 
The firm, set up this year by former SV Partners executive director Tim Heesh, will pay net rent of around $50,000 per annum at the 133 Macquarie Street address. 
This equates to around $350 per square metre per annum over the 140 square metre office space directly across the road from the Sydney Botanical Gardens. 
Ground floor space in the building is currently advertised for rent at $70,000 per square metre through Jeremy Piggin, office leasing director at Ray White Commercial who also negotiated the lease of the lower ground floor space. 
TPH Insolvency has taken up a one year lease with a one year renewal option. 
The office space has direct street entry and parking at the rear of the building. 
“The opportunity to occupy space with such historic, old world charm created a strong level of interest for this property from a wide variety of businesses,” says Piggins. 
“History House is one of CBD’s finest heritage buildings. The building offers additional well-proportioned Victorian rooms for functions and board meetings for members and tenants.” 
History House is believed to have been built around 1872 after being designed by George Allen Mansfield, who designed a number of Sydney institutions such as Royal Prince Alfred Hospital. 
“Originally a gentlemen’s residence, the house was used as a boarding house for many years before being purchased during the 1920s by distinguished surgeon Dr George Bell,” says Piggins. 
“The RAHS, which was founded in 1901, did not acquire History House until 1970. The house is now protected by a permanent conservation order and classified by the National Trust.”
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Insolvency firm leases ground floor in Sydney’s History House on Macquarie Street

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The Melbourne and Perth office markets are forecast to deliver the strongest returns to commercial property landlords over the next two years with both capital values and rents rising, according to the March quarter NAB Commercial Property survey.
An overall improvement in commercial property sentiment is noted in the report with gains in the office, retail and industrial sub-indexes.
The overall NAB Commercial Property Index rose 9 points in in the March 2013 quarter from -17 to -8 and is forecast to return to positive territory (optimists outnumbering pessimists) in the third quarter of 2013 with strong gains forecast in 2014 and 2015.
Apart from Queensland, where a softer resources market is likely having a negative impact on sentiment in the state, sentiment improved in all states, with the biggest movement in Victoria which is now expected to surpass WA in the next one to two years as the most optimistic state.
Whilst retail property recorded the biggest improvement in sentiment, it remains in negative territory (-27) with CBD hotels the only commercial property sector currently with a positive reading, though sharply down from +58 points in the December 2012 quarter to +6 in the March quarter.
<img src="/images/stories/2013/nab_comm_prop_index_2.jpg" width="470" height="279" alt="nab_comm_prop_index_2">
The outlook is brightest for office property with capital values expected to rise by 2.1% by March 2014 and 3.9% by March 2014.
Capital offices values in Victoria – predominantly the Melbourne CBD - are forecast to rise by 2.7% over the next 12 months and then by 4.2% over the following 12 months to March 2015.
Over this two-year time frame, Melbourne office rents are forecast to rise by a cumulative 5%.
In WA, office values – predominantly the Perth CBD – are forecast to rise by 3.5% over the next 12 months and then by 5.6% over the following 12 months to March 2015.
Perth rents are expected to rise by a cumulative 9% over the next two years.
There will also be strong gains in Sydney office values – 2.5% to March 2014 and 4.1% to March 2015 – but rents are expected to fall by 1.4% over the two-year period.
<img src="/images/stories/2013/NAB_comm_prop_index.png" width="470" height="281" alt="NAB_comm_prop_index">
These forecasts are based on the expectations of 300 commercial property agents, developers, fund managers, owners and investors with the report compiled by NAB chief economist Alan Oster together with NAB colleagues Robert De Iure and Dean Pearson.
As the outlook improves, more property developers surveyed reported plans to start new projects or developments in the near-term as fewer property professionals identified debt/equity funding as a problem.
Consumer confidence continues to be noted as the main challenge facing property firms in the next year but concerns about stock availability and the upcoming federal election are also growing.
Other key findings of the report:
<ul>
<li>Modest growth in retail capital values to resume in the next two years.</li>
<li>Gross rents fell in all markets over the quarter but at a slower rate.</li>
<li>Rents fell most for retail (-1.6%), with the best returns reported for industrial (-0.4%).</li>
<li>Expectations have strengthened, with industrial rents to grow 0.9% in the next year and 1.9% in the next two years.</li>
<li>Office rents are tipped to rise 0.4% and 1.5%, while retail rents are predicted to fall -1% and -0.1% in this period.</li>
</ul>
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Perth and Melbourne office markets have the brightest prospects as commercial property sentiment lifts: NAB Index

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Consumer sentiment fell “sharply” and against expectations in the week following the RBA’s decision to cut the cash rate to a 53-year-low of 2.75% with budget concerns the primary reason for confidence slipping.
The Westpac Melbourne Institute Index of Consumer Sentiment fell by 7% from 104.9 in April to 97.6 pushing it back into a range where pessimists outnumber optimists for the first time since October 2012.
“It is the lowest read since August 2012. Over the last two months the Index has fallen by 11.7% to fully reverse the promising 9.0% increase we saw in February and March,” says Westpac chief economist Bill Evans.
Sentiment about the housing market defied the overall drop in consumer confidence with the ‘time to buy a dwelling’ sub-index lifting 11.2% in May to be up 20.7% over the past 12 months.
“Households recognise the significance of the rate cut for housing activity along with evidence that a patchy upswing in dwelling prices is under way,” says Evans.
He says the 11.2% increase in May “redressed the sharp fall in the Index in April when respondents were unnerved by media coverage which included speculation that rates might be going up.
“It is better to assess the move in this survey as back to around 1.5% above the average level for the previous 6 months when there was a sustained positive response to the implications of lower rates for purchasing dwellings,” he said.
Looking at the overall result, Evans says the “remarkable aspect of this result is that it is the first read of the Index since the Reserve Bank cut the cash rate by 0.25% on May 7.
“Absent any other major influences, we would have expected a solid boost to the Index following that rate cut,” he says.
The drop in sentiment has been attributed to concerns about the Federal Budget with the May survey including a special Budget question with 44% of respondents assessed that the Budget would make them worse off with only 5.4% seeing it as improving with the balance of responses neutral.
“We have been conducting this separate Budget question since 2010 and this response is by far the most negative,” he says.
The survey of 1,200 Australians was conducted in the week from May 13 to May 18 with the budget announcement of a forecasted $18 billion deficit in 2013-14
Evans says the results of the latest survey confirm “our reasonable assumption that this weakness in confidence is being driven by a sharply negative response to the Budget”.
He tips a rate cut in June with the cash rate to hit 2% in the first quarter of 2014.
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Budget woes sees consumer sentiment fall to lowest level since August 2012, but housing sentiment lifts: Westpac index

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A 158-square-metre office suite in Museum Towers, a mixed-use 35 storey office and residential tower on Castlereagh Street in the CBD has been listed for sale with $695,000 expectations as demand for larger Sydney strata offices from self-managed super fund investors rises.
The office suite includes a car park at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500660111" target="_blank">267 Castlereagh Street</a> with owners and tenants also having access to an indoor pool and a roof-top deck.
Museum Towers dates back to the 1930s with a decorative red-brick façade featuring four floors of office suites and 120 apartments.
According to Knight Frank, the Sydney CBD Strata office market recovered strongly in 2012 after bottoming out in 2011, with SMSF investors leading the charge.
The total volume of sales increased by 45% over this period with $136.5 million transacting despite only a modest rise of 3.1% in the total number of sales.
Capital values also showed a limited increase of 1.7% to a current total market average of $5,122 per square metre.
Knight Frank city sales executive, Andrew Palmer says there has been a significant increase in the volume of sales experienced in Sydney CBD Strata Office sales, specifically among owner occupiers, across the last calendar year despite a tightening and slowdown in the delivery of new quality stock to the local market.
In particular, the core CBD precinct attracted strong interest with average capital values increasing by 15.6% on 2011 figures.
“Predominantly the key factors for driving this significant increase in sales in 2012 are improved investor sentiment and the cost of debt continuing to fall with the cash rate now at its lowest level over 50 years. In 2012, we entered into a perceived low point of the property cycle with interest rates dropping and confidence returning in the market,” says Palmer.
“This sharp spike in sales can also be attributed to the change which took place 18 months ago in SMSFs. Investors began taking advantage of favourable tax benefits on offer with much of this increased activity during 2012 generated by SMSF’s and this in turn has pushed prices steeply up in the core precinct.
“There has also been noticeable change in buyer interest from sub 100 square metre office spaces which accounted for almost three quarters of all sales in 2011 to a strong movement back to larger office spaces, 101 square metres plus.
"This is indicative of Australian business downsizing post GFC and business becoming more confident and beginning to expand again in 2012,” he says.
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Castlereagh Street office suite listed for $695,000 as SMSF investors return to Sydney strata office

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The Reserve Bank has noted strengthening conditions in the housing market, but it remains worried about demand for home loans, says Westpac chief economist Bill Evans.
Evans said the primary reason for the rate cut in May was a “surprise low print for inflation in the March quarter” as well as a “downbeat assessment of business conditions”.
But, he says the RBA board also “takes considerable notice of credit growth” qualifying its statement that housing loan approvals are improving with the comment that “credit growth remains subdued to date” along modest growth in business debt.
“This failure of credit growth to support optimism around the housing market is a very important observation,” says Evans.
“It is repeated in the final paragraph of the ‘Considerations for Monetary Policy’ section and provides an important condition which the Bank is likely to require before it declares victory in its objective of boosting the housing market.
“We have seen other comments from Bank officials pointing out that any sustained boost to housing activity and house prices would need to be supported by a marked improvement in credit growth.
“Of course to date this improvement has been missing mainly because existing borrowers continue to pay down debt,” says Evans.
Evans is sticking with his expectation, post the May rate cut, that the cash rate will fall to 2%, as well as a June rate cut, but with some degree of uncertainty on the timing.
“We were also sufficiently encouraged, particularly around the Governor's statement that implied there was more scope to ease policy, to expect a follow-up move in June
“Accordingly, while we are confident about our medium term view that the cash rate will eventually reach 2%, the choice of a June or later date for the next move is highly subjective.
“We are comfortable to reserve any decision to push back that call until we see Australian dollar and capital expenditure evidence over the next week," he says.
The government’s capital expenditure plans are to be released on May 30, which Evans says are “so important for the bank's overall plan to rebalance investment towards non-mining activities".
Evans is tipping a cash rate of 2% by the March quarter of 2014.
ANZ economist Justin Fabo has a 25 basis point rate cut “pencilled in” for later this year.
“Combined with our subdued outlook for overall business investment, however, and an expectation that the currency is likely to remain elevated for a while yet, our view is that the cash rate is still more likely than not to be lowered a little further,” he says.
CommSec economist Savanth Sebastian says the RBA has “made it clear that it is not done cutting rates” though it is unlikely that multiple rate cuts are on the cards.
“Certainly with inflation well contained and expected to be within the target 2% to 3%band over the next couple of years policymakers can rest easy while maintaining an easing bias,” he said.
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Subdued home loan growth a worry for RBA with 2% cash rate still on the cards: Westpac’s Bill Evans

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Speciality store vacancy rates in the Brisbane CBD are tightening as global brands like Zara, Topshop and Gap arrive on Queen Street Mall, says Jones Lang LaSalle (JLL).
The Brisbane CBD retail vacancy rate fell 0.4 percentage points over the second half of 2012 to be 3.7% as of December 2012 and, anecdotally, according to JLL, has edged further down in 2013.
The pedestrianised shopping strip crept up two places to be named the <a target="_blank" href="https://www.propertyobserver.com.au/retail/brisbane-s-queen-street-mall-climbs-into-list-of-world-s-ten-most-expensive-retail-rental-spaces/2013051461337">ninth most expensive retail space in the world</a> at $US739 per square foot per annum (about $A8,024.25 per square metre).
In its May update, Jones Lang LaSalle notes that there appears stronger signs in 2013 that general demand is improving in the Brisbane CBD retail market.
The graph below shows Brisbane CBD vacancy rates trending down, against the national trend:
<img alt="brisbane_CBD_vacancy_rates" height="382" width="470" src="/images/stories/2013/brisbane_CBD_vacancy_rates.jpg">
According to JLL, "leasing activity among food-based retailers has long been the primary source of demand in the market, but it now appears activity is improving among fashion-based retailers".
"A number of international retailers have, or are in the process of, entering the market, which is one driver of activity.
"Many of these retailers are implementing a large-format model and this ‘big box’ demand is creating a number of redevelopment opportunities in and around the Queen Street mall to accommodate these tenants, including Zara, Topshop, Gap and Hollister.
"As well as new mass market brands, the expansion of luxury brands in Brisbane continues, particularly along Edward Street, with Ermenegildo Zegna leasing 220 square metres at 155 Edward Street," says JLL.
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Brisbane CBD retail vacancy rate tightens as global brands hit Queen Street Mall: Chart of the week

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<img src="/images/stories/2013/02/collierslogo.jpg" width="470" height="94" alt="collierslogo">
Colliers International’s Darrell Irwin says the market he specialises in has seen an improvement in activity due to low interest rates.
<img style="margin: 5px; float: left;" src="/images/stories/2013/05/darrellirwin.png" width="200" height="200" alt="darrellirwin">Agent: Darrell Irwin
Position: Director, Special Projects - Queensland
Company: Colliers International
Office location: Brisbane
How long have you been in the industry?
Too long… 23 years. I’ve worked in 'in house'  roles with developers including Robina Land Corporation as development manager and as external consultant to Stockland on the North Lakes project. I’ve also worked with QIC on Robina and Blue Care on its property portfolio.
What’s happening in the area you specialise in?
There has been an improvement in activity due to low interest rates, improving demand for built product and land price adjustment which makes projects feasible after a number of years of difficulty stacking up new projects.
Describe the most interesting property you have leased:
Couran Cove Resort  on South Stradbroke Island, due to the complexity of the development and its Town Planning approvals and the identities involved, both the owner and his representatives and the potential buyers.
What are the ingredients to being successful in your job?
Hard work, patience, credibility… and a good sense of humour. My background working on successful Master Planned communities, such as Robina and North Lakes has assisted me in having a good understanding across all segments of the property market, residential, retail, office, industrial.
What aspects of your role do you enjoy the most?
Dealing with people and the variety of the work across different sectors of the property market.
Where would you invest a spare $750,000?
For the more entrepreneurial…Vacant development land at Coomera or Hope Island.
For the more conservative… residential within 10kms of Brisbane CBD, near water, transport, schools OR shops, or ideally proximity to  all of these.
Which football team do you support?
Gold Coast Titans and Queensland Reds
What’s your favourite app or techno gadget?
New iPad which is a recent acquisition to store and present with whilst on a recent property marketing trip to China.
How do you use social media?
Facebook and LinkedIn - my wife is a social media guru and dragging me up to speed.
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In profile: Colliers International's director of special projects Darrell Irwin

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Stockland has raised $400 million from institutional investors to help fund the growth of its retail property development business.
Recently appointed managing director Mark Steinert announced a new strategic direction for the A-REIT earlier this month including increasing its exposure to the retail property sector to between 50% to 70% of total assets.
It currently has a portfolio of 41 retail centres (valued at around $5.5 billion)  with plans to increase this to a portfolio worth around $7.5 billion by 2018.
Domestic and offshore nvestors purchased 103.1 million securities at $3.88 each at a 2.5% discount to the May 21 closing price with the placement oversubscribed
“By completing the placement we have raised capital to fund the initiatives highlighted in the strategic review," said Steinert.
“We welcome the confidence investors have shown in Stockland's new strategic direction, as demonstrated by the strong level of support for this placement.
“The proceeds will help fund our $1.5 billion accretive retail development pipeline, with projects in strong trade areas," he said, with yields of between 7% and 8% targeted.
“The $116 million redevelopment of our Hervey Bay Shopping Centre is a good example of our reinvestment strategy as it will reflect a pre-AIFRS (Australian Equivalent of International Financial Reporting Standards) yield of 7.5% and an incremental internal rate of return of 13.8% upon completion.”
The proceeds will also be used for the repayment of debt, reducing Stockland's balance sheet gearing by approximately 3%.
The placement was fully underwritten by UBS AG, Australia Branch.
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Stockland raises $400 million from institutional investors to grow malls business 

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The Coalition currently has no plans to remove negative gearing tax breaks used by a third of Australian property investors if it wins power in September.
Even if removing negative gearing were recommended as part of a broader White Paper tax review, it would only seek a mandate to change tax rules as part of a second term election campaign.
A story on thewest.com.au claiming shadow treasurer Joe Hockey would review negative gearing tax breaks for property investors as part of an incoming Coalition government tax review, has been rubbished by his spokesperson, Tony Ritchie, who is demanding a retraction.
“Tony Abbott was clear last Thursday night, saying if a Coalition Government is elected it 'will consult with the community to produce a comprehensive white paper on tax reform'.
“'We’ll finish the job that the Henry review started and this government squibbed. We want taxes that are lower, simpler and fairer and will take proposals for further tax reform to the following election.'
“Mr Hockey nor the Coalition has identified any particular tax that will be reviewed.
“If the White Paper makes recommendations the Australian public will be asked to give a second term Coalition a mandate before any taxation reform is undertaken.
“There could be no fairer or transparent system,” said Ritchie.
At the same time incumbent federal treasurer Wayne Swan has ruled out making any changes to negative gearing telling reporters in Adelaide today the government had “ruled out any change to the existing arrangements" in its response to the Henry report.
The recently published <a target="_blank" href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891">ATO annual report</a> revealed that around two-thirds of Australia’s 1,811,174 property investors - 1,213,597 taxpayers –  using negative gearing provisions to claim losses on their investment properties for the 2010-11 tax year up from 1,110,290 who claimed losses in the 2009-10 tax year.
The average loss recorded for negatively-geared property investors was $10,947 in 2010-11, up from $9,132 in 2009-10.
<a href="/news">Investment adviser Scott Pape</a> stirred up a hornet's nest of responses from readers when he suggested that the government didn't have the "ticker" to remove negative gearing tax breaks.
Now he can add a likely Coalition government to his list.
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No plans for Labor or Coalition governments to abolish negative gearing 

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“Strengthening conditions in the housing market” were noted by RBA board members at the May monetary policy meeting, where the cash rate was cut to a record low of 2.75%.
However, members also noted that, “thus far, credit growth had remained subdued”.
The key phrase in the minutes is that the RBA board decided that “some of the scope” to ease policy should be used at the May meeting, implying that scope still remains for further easing.
“[The board] judged that a further reduction in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target,” read the minutes.
The minutes note improvement in dwelling buying conditions, rising dwelling prices and a pick-up in new dwelling investment.
"Indicators of consumer sentiment were above average levels, with reported buying conditions for dwellings and motor vehicles at relatively high levels," read the minutes.
"Dwelling prices were around 4% above their trough in mid 2012, and auction clearance rates had increased.
"New borrowing for housing had also picked up, while forward-looking indicators and the Bank's business liaison suggested that demand for new housing was improving – notwithstanding a decline in building approvals in the March quarter – with enquiries from prospective purchasers and visits to display homes increasing.
"New dwelling investment had increased since the middle of the previous year, with members observing that approvals for higher-density dwellings had increased, while approvals for detached dwellings had been flat over this period."
Looking ahead, the RBA board expects “moderate growth in dwelling investment” along with growth of resources exports and a pick-up in consumption offsetting “the slowing in overall business investment, given the peak in the mining investment boom along with the effects of fiscal consolidation and the high level of the exchange rate”.
The decision to cut the cash rate was taken despite the household sector responding to low interest rates with overall economic growth “expected to be somewhat below trend for a while” and the inflation outlook “revised down slightly”.
“Increasingly, the household sector had shown signs of responding to these low rates: wealth had been bolstered by higher equity and dwelling prices; measures of consumer confidence were above average; housing and personal loan approvals had been rising, although credit growth remained subdued to date; and dwelling construction activity was growing.
“At the same time, however, conditions in the business sector, as assessed in surveys, generally had remained below average, possibly in part because the exchange rate had remained high despite lower export prices and interest rates,” read the minutes.
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Scope for more rate cuts as RBA notes conditions “strengthening in housing market”: May minutes

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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