<html><body>
The Bank of Queensland (BoQ) will refund thousands of customers around $12 million after they paid too much interest on their home loans over a number of years. 
Mortgage customers were overcharged due to a computer error that resulted in a failure to link Mortgage Offset Accounts (MOA) to some eligible home loan accounts. 
An offset account is a savings account that is linked to a person's home loan account. 
Any money in the offset account reduces the amount of interest payable on the linked home loan. 
“In this case, BoQ failed to link some offset accounts to home loan accounts, which meant that money held in those offset accounts did not reduce the interest payable on the home loan accounts. As a result, borrowers paid more in interest than they should have done,” explained ASIC. “Current estimates are that the error impacted approximately 6,000 customers and total refunds will be in the order of $12 million,” said ASIC. 
The bank discovered the problem and reported it to the corporate watchdog. “BoQ has agreed to appoint an independent expert to review its remediation processes to ensure that all affected customers are identified and appropriately compensated, and BoQ's compliance systems are adequate to prevent a similar error occurring in future,” said ASIC. ASIC acknowledged the cooperative approach taken by BoQ in relation to this matter. BoQ has already compensated some customers and will ensure that the remaining affected customers are contacted. Customers affected by the error will be advised of their compensation, which will take place over the next 10 months. 
</body></html>

lschlesinger-FZcF9M3vE6

Bank of Queensland to refund 6,000 customers after mortgage offset error

<html><body>
A 127-hectare Richmond lot and a 100-hectare Windsor Turf property of the failed companies associated with Achilles "Big Al" Constantinidis has again been listed for receivership sale.
The properties are being marketed jointly by Webster Nolan Real Estate and LJ Hooker Brisbane Central.
The <a href="https://www.propertyobserver.com.au/https://www.websternolan.com.au/node/120" target="_blank">127-hectare property at 4 Dight Street</a> in Richmond Lowlands, less than an hour from Sydney, was listed in July last year with $4 million plus expectations as part of a <a href="https://www.propertyobserver.com.au/rural/alluvial-windsor-district-turf-dairy-and-polo-farms-of-achilles-big-al-constantinidis-listed-for-receivership-sale/2012070955487" target="_blank">282 hectare portfolio of alluvial Windsor district turf, dairy and polo farms</a>  receivership sale.
The picturesque property (pictured below)  is listed as potentially being used for cattle, horses, as a turf farm and to grow vegetables. It has a 270 ML irrigation licence to pump from Hawkesbury River.
<img src="/images/stories/2013/04/constantinidisapril4one.jpg" alt="constantinidisapril4one" width="470" height="353">
<a href="https://www.propertyobserver.com.au/https://www.websternolan.com.au/node/121">The 100-hectare “Windsor Turf” farm</a> (pictured below), situated just outside <a href="/news">Windsor</a>, had $5 million-plus hopes in July last year.
<img src="/images/stories/2013/04/constantinidisapril4two.jpg" alt="constantinidisapril4two" width="470" height="352">
The land cost $21 million plus in 2007. Mark McIvor's Queensland-based lender, Equititrust, has a mortgage over the land and is believed to be owed $22 million-plus, having been involved as quasi-joint venturers with Constantinidis.
The Australian reported that a multi-hectare holding at <a href="https://www.propertyobserver.com.au/https://www.websternolan.com.au/node/122">177 Francis Street</a> also in Richmond Lowlands recently sold to a local polo-playing family for more than $2 million.
Constantinidis, a former accountant, was a consultant to the Bulldogs during the Liverpool rugby league Oasis development.
</body></html>

'Big Al' Constantinidis rural properties listed again for receivership sale

<html><body>
The premises of Paul Mathis’s acclaimed FireChief restaurant in Hawthorn East have sold to a private investor for $4.4 million at auction. 
The sale price represented a 5.9% yield. 
This was above <a href="https://www.propertyobserver.com.au/retail/hawthorn-east-premises-of-paul-mathis-firechief-restaurant-listed-for-march-auction/2013031259794" target="_blank">pre-auction expectations</a> of $4 million to $4.3 million.
Fitzroys agents Chris Kombi and Mitchell Humphreys handled the auction campaign, alongside Grita Angelucci of John H Castran. 
The property, at 169 Camberwell Road, Hawthorn East, has two street frontages and comprises a fully refurbished building of around 455 square metres incorporating FireChief plus its “little sister”, laneway café Goldilocks. 
The property is subject to a seven-year lease with two further seven-year terms to Paul Mathis. 
Fitzroys director Chris Kombi said the purchaser was attracted to the rare opportunity to secure a high profile property with a long lease and strong passing income in a vibrant main road location.
Mathis is a celebrated “concept” chef with FireChief renowned for its pizzas, which include a classic minimalist Naples-style pizza and an ‘Aussie’ pizza topped with an egg.</body></html>

Paul Mathis FireChief premises in Hawthorn East sell for $4.4 million

<html><body>
AMP Capital will use $200 million of new equity raised from investors in its Shopping Centre Fund to help fund the redevelopment of Macquarie Centre in North Ryde into the second biggest mall in Sydney as well as upgrade the Ocean Keys mall in Perth.
In October last year, AMP Capital announced it would spend $390 millions redeveloping Macquarie Centre from 97,000 square metres to 135,000 square metres gross leasable area with more than 375 speciality retailers. 
On completion in the last quarter of 2014, Macquarie Centre, with will be the second largest shopping centre in Sydney and a top 10 centre by size in Australia.
The biggest shopping centre in Sydney is Westfield Parramatta at 137,000 square metres. 
Macquarie Centre is 100% owned by AMP Capital managed funds after it acquired Westfield Group and Westfield Retail Trust’s 50% interest for $426 million in October last year.
AMP Capital will spend $100 million redeveloping Ocean Keys in Clarkson, Perth, also due for completion at the end of 2014.
The centre will get a new Target store, an additional 48 specialty stores, a new dining precinct, a multi-deck car park, commercial offices and 10 residential apartments attached to the centre.
The $200 million equity raising came from Australian institutions and a new mandate from a European pension fund. 
“We were very happy with the level of interest we have seen in the fund and the speed at which we secured funding from both domestic and international investors," said AMP Capital Shopping Centre fund manager Conrad Sinclair.
The capital raising launched in November last year.
“Despite softer retail conditions investors have recognised the very high quality of the portfolio and ability to add further value over the long term as well as AMP Capital’s ability to deliver these outcomes.  Their investment allows them to participate in the growth of leading shopping centres with significant development opportunities.
The AMP Capital Shopping Centre Fund is a $2.3 billion sector specific shopping centre fund with exposure to 11 assets in five geographic sectors across Australia and New Zealand.
</body></html>

AMP raises $200 million to develop Sydney's second biggest shopping mall in North Ryde

<html><body>
There has been some pick-up in the Gold Coast property market, but it still takes almost six months on average to sell a residential property, according to the latest market update from Australian Property Monitors (APM).
Average days on market on the Gold Coast have reduced from 184 a year ago to 173 as of February 2013 - the long-term average is 130 days.
The average discount required to sell a property has also reduced marginally from 11.6% to 10.3% and is approaching the long-term average of 9.7%
According to APM, there are 11,000 properties listed for sale on the  Gold Coast, nearly 20% less than a year ago, but still 1.5% higher than the long-term trend.
"High levels of unsold properties will remain a drag on a sustained Gold Coast housing market revival in 2013," says APM.
"This is particularly the case for the unit market, which continues to suffer from high listing numbers with prices down by 1.6% over the December quarter and down 7% over 2012.
"The local economy however is doing its part, with the latest unemployment rate recorded by the ABS over January at 5.8% compared to the 6.7% of January 2012.
<img src="/images/stories/2013/gold_coast_days_on_market.gif" width="565" height="431" alt="gold_coast_days_on_market">
</body></html>

Gold Coast properties still taking nearly six months to sell: APM

<html><body>
The difficult operating environment being faced by some businesses is also evident in the commercial property sector, the RBA has acknowledged in its latest Financial Stability Review.
Buried deep within the hefty bi-annual report, the RBA also notes that the banking system has “sizeable exposures” to commercial property.
“The pace of the recovery in commercial property rents and prices slowed in 2012, and conditions generally remain weaker than prior to the crisis across the main market segments,” says the RBA.
“In the CBD office market, where conditions had improved the most over the past few years, rents have fallen in recent quarters and vacancy rates have begun to increase again.
“The increase in office vacancy rates over the second half of 2012 was driven by weaker tenant demand across most capital cities, and followed large supply additions in the first half, particularly in Perth and Brisbane.
“While there is some new supply in the pipeline, private non-residential building activity has been fairly weak compared with the run-up prior to the financial crisis, and the outlook for construction in the near term is subdued: non-residential building approvals in the second half of 2012 were below their average level since the early 1990s as a per cent of GDP, and survey measures of investment intentions are weak,” says the RBA.
<img src="/images/stories/2013/comm_prop_charts.gif" width="636" height="550" alt="comm_prop_charts"> 
</body></html>

Conditions remain "difficult" in commercial property sector: RBA

<html><body>
<div>Glenn Stevens will lead the RBA for a further three years until 2016.</div>
<div></div>
<div>The extension of his term as governor of the Reserve Bank was announced today by Australian treasurer Wayne Swan.</div>
<div></div>
<div>His current appointment was due to expire on September 17 this year.</div>
<div>
 Stevens has been governor of the RBA since September 2006, helping to steer the country through the GFC following deep cuts to interest rates in late 2008 and early 2009.</div>
<div></div>
<div>ANZ economist Katie Deans notes that the early re-appointment avoids the appointment from becoming a potential political issue. Stevens's current term was due to expire three days after the Federal election. 
</div>
"The short term of three years - usually appointments are made for seven years - probably reflects a succession plan to the next governor.
"The likely successor to Glenn Stevens, deputy governor Philip Lowe, was only appointed to his current role last year (February 2012), so was probably viewed as needing more time in that role before being promoted to governor.  The shorter term mirrors the final appointment of the previous governor Ian Macfarlane, before he passed the governorship to Stevens," she says. 
"Given the relative resilience of the Australian economy under Stevens's stewardship, his reappointment should be seen as favourable by markets.  And what appears to now be a clear internal succession plan at the RBA introduces further certainty to Australian the monetary policy process."
The Treasurer also announced the appointment of Kathryn Fagg to the RBA Board for a five-year term (commencing 7 May 2013), replacing Woolworths director Jillian Broadbent. 
Fagg has worked across the resources, transport and finance industries.
</body></html>

Glenn Stevens re-appointed RBA governor until 2016 

<html><body>
Beer, food and beverage maker Lion will relocate its WA headquarters to the redeveloped historic Old Swan Brewery mixed use development on Mount Bay Road, south of the Perth CBD.
Originally established in 1857, the former grand Edwardian brewery building was fully restored and refurbished by Multiplex in 2001. 
It is a coming home in a sense for Lion given that the original occupier of the historic building was Swan Breweries – a company that was purchased by the since renamed Lion Nathan between 1990 and 1992.
Lion will occupy the entire first level of the redeveloped brewery, which is located at 171 Mounts Bay Road. 
CBRE Office services director Luke Bray negotiated the five-year lease over the 1,243 square metres office floor.
The lease commences this month. 
Bray says the building’s high profile, city fringe location and the unique nature of the space had been major draw cards for Lion, which was moving its offices from Canning Vale ahead of relocating its brewing operations interstate.
“Old Swan Brewery is one of Perth’s most identifiable buildings, combining three levels of office accommodation with restaurants and luxury apartments,” Bray says.
“All areas boast panoramic views of the Swan River, with the site also benefitting from its prestige location next to Kings Park, close proximity to the CBD, ease of access to the Mitchell and Kwinana freeways and abundance of on-site car parking.”
Upon completion of the refurbishment, Multiplex (now Brookfield Multiplex) moved into levels 1 – 3 of the building and today the company still occupies two floors in the building.
</body></html>

Lion comes full circle as it relocates offices to Perth's Old Swan Brewery

<html><body>
The latest HIA new home sales report suggests further woes for the outer Melbourne fringe land market with new detached house sales falling 13.7% in Victoria over February.
The state led a 5.3% seasonally adjusted national decline in new home sales over February reflecting a 4% reduction in detached house sales and an 11% drop in multi-unit sales.
Sales of new detached houses fell 2.8% in New South Sales and 6.7% in South Australia.
Increases in detached house sales occurred in both Western Australia (+1.9%) and Queensland (+0.8%) during February.
The results are based on a survey of Australia's largest volume builders
“These data are disappointing in the context of the growth in sales over previous months,” says HIA senior economist, Shane Garrett.
“The broadly based decline in activity during February is a reminder of how delicate the nascent recovery in the housing industry really is. 

“If we take a broader view of the situation, the overall direction of activity is still quite encouraging.
“New home sales are up strongly over the last three months in almost all states, in terms of both houses and multi-units. 

“Nonetheless, February’s data emphasise how far housing market activity has fallen from the levels of just three years ago. The industry is struggling in the current economic environment and strong policy measures will be required to bring market activity back up to levels consistent with Australia’s long term requirements."

</body></html>

New home sales "stumble" in February led by 13.7% drop in Victoria: HIA

<html><body>
Standard &amp; Poor’s has cut the credit rating of Adelaide-based debenture-issuer Angas Securities from ‘B+’ to ‘B’ and placed it on a credit watch with a negative outlook.
A rating of ‘B’ indicates the company has the capacity to meet its financial commitments but that “adverse business, financial, or economic conditions will likely impair the obligor's capacity or willingness to meet its financial commitments”.
The downgrade follows S&amp;P's revision of its outlook for Angas from stable to negative in April last year.
<a href="/news">In January this year</a>, Property Observer reported that Angas Securities revealed that a third of its loans were in arrears, with around $33 million of these loans more than a year in arrears.
Angas has raised $300 million from around 2,500 small investors who have invested in Angas Securities' debenture fund, which offers returns from 7.5% to 9% and principally lends the money on at high interest rates as commercial property loans.
S&amp;P noted last year that Angas had a “sizeable portfolio of non-performing assets includes some large exposures when assessed against the company's modest capital base”.
Angas Securities and its dozens of debenture funds are listed on the small cap National Stock Exchange.
In an investor newsletter published last month, Angas said the Standard &amp; Poor’s credit rating “is an objective, independent opinion of the willingness and capacity of Angas to meet its financial commitments in full and on time”.
In its most recent financial update following the release of poor interim results, Angas executive chairman Andrew Luckhurst-Smith says “the entire debenture funded commercial lending sector was facing significant scrutiny in the wake of two provincial companies entering receivership during the period”.
Debenture funds that have collapsed over the past year include Sydney-based Provident Capital, Brisbane-based Wickham Securities, regional Victorian-based Banksia and <a href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Gold Coast-based LM Investment Management</a>, which had its first creditors meeting yesterday.
Luckhurst-Smith added that “both were unlisted and un-rated issuers so were not directly comparable to companies such as Angas”.
Angas Securities posted a 34% drop in profit (before tax and dividends) of $1.019 million for the six months to December 30, 2012 on higher revenues (up 19%) of $20.839 million.
The financial report shows loans totalling $238 million on the balance sheet up from $179 million in the previous corresponding six-month period.
The company also holds $33 million worth of investment property and $27 million in cash.
Luckhurst-Smith said profits were lower on the year before due largely to expenses involved in the recovery of loans and the management of several impaired loans.
He also reported that the fund had finalised negotiations for the structured sale of Fernhill, a grand residential property near Penrith, on the outskirts of Sydney, which is being transformed into 88 residential allotments and a major tourism venue, expected to generate in excess of $50 million.
</body></html>

S&P cuts credit rating of Adelaide debenture issuer Angas Securities

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News