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The $130 million Harvey Norman Maroochydore Homemaker Centre on the Sunshine Coast, which opened in November last year, is now 91% leased as demand for bulky good retail assets rises. 
The success of the centre, the first homemaker complex built in Queensland since 2009, will be seen as a sign of a return of confidence in both the South East Queensland commercial property market and the residential property market with furniture and home living stores prominent among tenants.
The successful leasing of the centre comes on the back of a pick-up in the bulky goods sector spurred on by competition between Wesfarmer’s Bunnings and Woolworth’s Masters for the DIY space and <a target="_blank" href="https://www.propertyobserver.com.au/news/casula-in-sydney-s-south-west-to-get-its-costco/2013031059802">Costco </a>and IKEA both expanding in Australia. 
The 2012 shopping centre investment review report from Jones Lang LaSalle says activity in the sub-regional and bulky goods sectors increased in 2012 with opportunistic investors emerging to capitalise on wide yield spreads including those offered in the bulky goods sector.
The JLL report says there was a “significant revival in activity” in the bulky goods sector in 2012 with over $613.2 million worth of bulky goods (homemaker) centres traded in 2012, 87% above the 10-year average ($328 million). 
Yields have been high with the Home Hub Hills bulky good centre in Castle Hill, Sydney purchased by LIM last year on a yield of 9.32%. 
“This sector has been attractive for a number of reasons. 
“The investors targeting this asset class recognise that the prime assets have stabilised and a recovery in retail spending, combined with a potential revival in residential construction, could strengthen the performance of prime centres. 
“In addition, there has been relatively low competition for these assets with the absence of A-REIT’s as active buyers and centres can be acquired on attractive yields,” says JLL. 
A-REITs continue to exit this sector as evidenced by Charter Hall’s sale of Mile End Homemaker Centre ($43.8 million) and GPT’s sale of Homemaker City Jindalee ($50.5 million) and Homemaker City Aspley ($41.2 million). 
The 32,000 square metres of lettable area in the Maroochydore Centre includes 20 retail stores and 4,185 square metres of office space, more than half of which is leased to Goodlife Health Club. 
Just four tenancies remain in the bulky goods store measuring 125 square metres, 510 square metres, 515 square metres and 1,320 square metres. 
The indoor centre was developed and is anchor-tenanted by Harvey Norman. 
Other tenants include Joyce Mayne, Domayne, Nick Scali, Plush, Next Byte, The Outdoor Furniture Specialists, Akasha, Sleepy’s, 2 Garnish and Global Living Furniture. 
The leasing agents for the centre are CBRE’s Damian Crocetti and colleague Nick Willis. 
Crocetti says the centre is well positioned to take full advantage of the ‘Homemaker Market Boom’ with bulky goods spending in the catchment area totaling an estimated $1.029 billion according to Deep End Services. 
The complex is situated just 1km west of the Maroochydore CBD and only moments from proposed Bunnings and Masters sites. 
It is adjacent to the largest shopping centre on the Sunshine Coast, the Best &amp; Less, Coles, Kmart, Myer and Target anchored Sunshine Plaza. 
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Bulky goods revival continues as Harvey Norman Maroochydore centre now 91% leased

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The striking glass-fronted premises of Paul Mathis’s FireChief restaurant in Camberwell Junction has been listed for auction on March 21.
The property, at 169 Camberwell Road, Hawthorn East, was formerly an auto shop before being entirely refurbished to incorporate FireChief plus laneway café Goldilocks in late 2011.
The 455-square-metre site has 10.67 metre street frontage to Camberwell Road and caters for suburban moviegoers, being just 100 metres from the Rivoli Cinemas.
The property is being marketed by Grita Angelucci from John H Castran and Fitzroys agents Chris Kombi and Mitchell Humphreys.
Kombi tells Property Observer, the restaurant premises are expected to sell in a price range from $4 million to  $4.3 million - a yield of around 6%.
"We have received interest from private investors. Interest has been good," he says.
The Italian restaurant, with its three pizza ovens and Naples-trained chef, is licensed for 200 seated patrons at any one time.
The property is leased to Mathis for seven years with two further seven-year terms and returns $260,000 per annum plus GST with fixed annual increases.
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.
The restaurant and cafe are located within the Camberwell Junction activity hub next to Dan Murphy’s, Dick Smith, Rivoli Cinemas and to the rear, The Well Shopping Centre, Coles Supermarket and Burke Road’s retail precinct.
Other eateries established by Paul Mathis in Melbourne over the past two decades include Blue Train, Automatic, Taxi, Transport Hotel, Soul Mama, Chocolate Buddha, SOS and the 100 Mile Café.
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Hawthorn East premises of Paul Mathis’ FireChief restaurant listed for March auction

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The 52-year-old Greenvale man charged earlier this month in relation to the investigation into Epping district rental properties allegedly used to grow hydroponic marijuana has since died.
The Victorian Police have advised the matter is not believed to be suspicious and police will prepare a report for the Coroner.
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Death in alleged Epping marijuana rental management property scheme

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Mortgage lending did not bounce back in the first month of 2013 with first-home buyers participation in the market remaining at near nine year lows.
The ABS records that the total number of owner occupied housing commitments fell 1.5% in January to 44,483 home loans.
This follows a 1.5% fall recorded in December.
A survey of 19 economists by Bloomberg this week had forecast a 0.5% rise in mortgage commitments over January.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments remained at 14.9% in January 2013.
This is the weakest proportion of first-home buyers in the housing market since June 2004 and just two percentage points off the record low of 12.8% in March 2004 for ABS figures going back to July 1991.
Between January 2013 and December 2012, the average loan size for first home buyers rose $2,800 to $297,100.
The average loan size for all owner occupied housing commitments fell $1,200 to $307,100 for the same period.
Accordingt to the ABS, mortgage commitments for the purchase of established dwellings were flat over January.
The figures indicate the residential construction sector remains weak with the number of mortgage commitments for the construction of dwellings falling 0.2% in January 2013, after a rise of 1.6% in December 2012.
On a trend basis, commitments for the construction of dwellings fell marginally (0.1%), the seventh consecutive monthly fall in this series.
Commitments for the purchase of new dwellings rose 2.3% in January 2013, following a rise of 2.3% in December 2012 on a seasonally-adjusted basis.
The total value of owner occupied housing commitments rose 1.3% in January 2013 on a seasonally adjusted basis to $13.76 billion.
 
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Home lending down 1.5% in January with first-home buyer activity still at near nine-year lows: ABS

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Bunnings has acquired the Supa Centa at Tuggerah on the NSW Central Coast, owned by Betty Klimenko’s family real estate group Terrace Tower.
Terrace Tower was founded by Klimenko’s father, the late John Saunders, co-founder of the Westfield Group.
The centre is located at the corner of Wyong Road and Bryant Drive in Tuggerah and is billed as the Central Coast’s largest home &amp; lifestyle centre.
Tenants include The Good Guys, Bunnings Warehouse, Spotlight, Nick Scali, Fantastic Furniture and Bing Lee.
Other commercial properties owned by Terrace Tower include the Eastgardens shopping centre and Moore Park Supa Centre in Sydney’s eastern suburbs and the Crowns Gardens apartment block in East Sydney.
Klimenko, with her distinctive pink hair and tattoos, is a motorsports fanatic and owns the Erebus Motor Sport team, which raced a Mercedes at the V8s in Adelaide earlier this year.
Bunnings plans to increase the size of the store, one of the better performing in the group, and give it a more modern format, Fairfax reported. Bunnings is owned by Wesfarmers. 
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Bunnings acquires Betty Klimenko family-owned Supa Centa at Tuggerah

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Concerns that incentives granted to developers and housing groups under the National Rental Affordability Scheme (NRAS) are being sold on a secondary market are to be investigated as part of the federal government’s review of the scheme.
The Australian Financial Review has reported that some developers were selling incentives for between $10,000 and $30,000 each.
Ahead of the release of the fifth round of 10,000 incentives, Mark Butler, the federal minister for housing and homelessness, said he had “heard the concerns about the timely use of incentives”.
“We will continue to refine this innovative program,” he said.
The scheme has come under attack from the opposition housing spokeswoman, Senator Marise Payne, who said its aim was to provide affordable housing – not for developers to make a quick profit.
An incentive allows for the building of an eligible NRAS home – property investors get an annual tax-free incentive of just under $10,000 and eligible renters get a 20% discount to the market rent.
Around 11,300 homes have been built under the scheme with a noticeable pick-up in delivery of new NRAS housing in the last 18 months.
Developers like David Devine’s Metro Property Development group have stepped up their marketing of NRAS properties with around half of new Brisbane apartments offered to investors under the scheme.
The government aims to build <a target="_blank" href="https://www.propertyobserver.com.au/developments/government-to-expand-nras-scheme-with-aim-of-50000-homes-by-2015/2013030659767">50,000 new homes under NRAS by 2015</a>.
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Federal government to review NRAS scheme over incentives trading

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The Reserve Bank will leave the cash rate unchanged at 3% when it next meets to decide on monetary policy on April 2, according to the latest Bloomberg survey of economists.
Of the 25 economists polled by Bloomberg on March 8, 24 expect the cash rate to remain unchanged.
The only economist expecting the RBA to cut the cash rate in April is Dominic Bryant from French investment bank BNP Paribas Asia.
Last week, he, along with Macquarie Bank chief economist Richard Gibbs, were the only two economists out of 27 polled by Bloomberg who tipped the RBA to cut the cash rate in April.
Gibbs has since altered his view, leaving Bryant the lone economist tipping an April rate cut.
Looking beyond April, a significant majority of economists – 16 out 25 – expect the cash rate to also remain unchanged in May.
A majority of economists (15 out of 25) expect the cash rate to be lowered in June with 13 expecting a cash rate of 2.75% and two – notably Macquarie Bank’s Richard Gibbs and NAB’s Alan Oster – tipping a cash rate of 2.5% with both economists expecting 25 basis point rate cuts in May and June.
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No rate cut in April say economists: Bloomberg survey

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Bulky good centres provided the highest return to retail property investors in 2012, according to the latest Jones Lang LaSalle shopping centre investment review.
Yields on bulky good centres were stable over 2012 at 9.55% with neighbourhood centres offering the second best return of 8.51% up marginally compared with 2011.
The lowest yields (6.28%) are on offer for the most expensive assets sought by mainly institutional investors - regional shopping centres.
"With spreads wide on so many measures, it presents investors with certain risks and opportunities.
"It suggests asset repositioning can potentially be more rewarding and that there is potential capital growth to be derived as spreads ultimately narrow to long-term average levels.
"Some investors have emerged to take advantage of some of these trends, particularly in bulky goods and sub-regional sectors," says Jones Lang LaSalle.
<img alt="shopping_centre_yields" height="530" width="470" src="/images/stories/2013/shopping_centre_yields.gif">
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Bulky goods centres offer highest retail property yields: Chart of the week

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All purchasers must define their own needs. Owner-occupiers are different to investors and want very different things from property. Investors who purchase off-the-plan should be buying for the medium- to long-term.
“Buying for the short-term is risky in the current environment. Look to holding a property for five to 10 years, and that will allow you to ride out any negative movements in the market that could reflect in the value of the property. If you stick with the long-term you will end up with solid capital growth,” says Tim Rees, director of CBRE residential projects.
Investors, who accounted for about 70% of sales six years ago, once dominated buying off-the-plan. But the tide is turning.
Rees says that owner-occupiers have become shrewd in buying property off the plan in recent years, and that purchases off-the-plan have become popular.
The tight residential market in Sydney, where owner-occupiers have seemingly embraced buying off-the-plan or face never getting started on the property ladder, has driven this, Rees says.
“In Sydney there are not many apartment buildings these days that are not already sold when they are finished, so they do not add anything to the available housing stock.
“This keeps the market competitive and tight, and owners-occupiers understand that buying off-the-plan is a reputable way to buy and no longer the domain of investors,” Rees says.
However, do not always assume that property prices are going to rise. There have also been cases of people paying far more for a property at settlement than they could hope to sell it for in the current market.
When you are considering what might happen to property prices from the time you sign the contract to settlement, you should also research what other projects will be completed over this time frame in the same area.
There could, for example, be a glut of apartments being marketed off-the-plan or due to commence construction, which could create an oversupply rental situation or reduce values.
For great tips on buying off the plan, download Property Observer’s free ebook – <a rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Take into consideration rising and falling values: tips for buying off-the-plan

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The mortgage market rebounded strongly in February on the back of increased levels of consumer confidence and more attractive fixed and variable mortgage rates, according to the latest RP Data Mortgage Index.
The index has surged over the past eight weeks reaching 100.7 points as of March 10 – its highest reading since August 2009, also the last time the cash rate was at 3%.
The index tracks mortgage activity from 90% of the residential mortgage sector and correlates strongly with ABS housing finance data.
More than a month ahead of ABS housing finance data – January housing finance figures are out tomorrow – it is a lead indicator of demand for residential mortgages.
<img alt="rpdatamortgagemarch12one" height="207" width="470" src="/images/stories/2013/03/rpdatamortgagemarch12one.gif">
<img alt="rpdatamortgagemarch12two" height="263" width="470" src="/images/stories/2013/03/rpdatamortgagemarch12two.gif">
RP Data’s head of corporate affairs Craig Mackenzie said the latest reading of the index highlights the extent of new market activity between the traditionally slow month of January and February. 
“In seasonally adjusted terms, the index increased from 76.9 to 78.1, foreshadowing a strong result for February when the housing finance data is released by the ABS in mid-April. 
“Of greater significance is the fact that the raw Index value of 100.7 over the 28 days to March 10 was the highest since September 2009, which was a point in time when market activity was very strong, underpinned by high levels of first homebuyer activity stimulated by low interest rates and the First Homebuyer Grant Boost. 
“This is supported by the fact that the average number of activity events across RP Data’s platforms per client was the highest since August 2009. 
“This suggests mortgage market activity has rebounded strongly in February after the post-Christmas lull, driven by increased levels of consumer confidence, attractive mortgage interest rates (both fixed and variable) driving strong refinancing activity and improved investor demand,” Mackenzie said.
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Mortgage activity rises to highest point since August 2009: RP Data

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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