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Developers have been competing for development sites to build apartments across Toowoomba for the last twelve months with construction activity now continuing at a rapid pace, according to Herron Todd White.
Herron Todd White's September Month in Review said in the western suburbs a primary concern is for the looming oversupply as vacancy rates for new units in the western suburbs are increasing.
"While at present new units are achieving a premium on sale, second hand stock has seen a reduction in both sale price and volume of transactions," the report noted.
"Asking prices for newly constructed units appear to be in the early stages of decline with some sales and rentals being incentivised. Despite this, across all property types the vacancy rate for Toowoomba has stabilised at 3%. 
"The market for new units located in established, in-fill areas across the eastern and southern areas of Toowoomba are more sought after as this product is also appealing to owner occupiers, which broadens the buyer profile."
According to Herron Todd White the median unit price as at June 2015 for units in the 4350 postcode was $300,000 - a decrease of approximately 1.5% since the previous quarter.
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Toowoomba unit construction at rapid pace: Herron Todd White

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New figures from the Australian Bureau of Statistics show the weighted average price index for residential properties across the eight capital cities rose 4.7% in the June quarter.
According to the Residential Property Price Indexes, the index rose 9.8% through the year to the June quarter.
"Capital city residential property price indexes rose in Sydney (8.9%), Melbourne (4.2%), Brisbane (0.9%), Adelaide (0.5%) and Canberra (0.8%), was flat in Hobart (0.0%) and fell in Perth (-0.9%) and Darwin (-0.8%)," it noted.
"Annually, residential property prices rose in Sydney (+18.9%), Melbourne (+7.8%), Brisbane (+2.9%), Canberra (+2.8%), Adelaide (+2.7%) and Hobart (+1.5%) and fell in Darwin (-1.8%) and Perth (-1.2%).
"The total value of residential dwellings in Australia was $5,761,607.2m at the end of June quarter 2015, rising $271,939.1m over the quarter. The mean price of residential dwellings rose $26,200 to $604,700 and the number of residential dwellings rose by 38,400 to 9,528,300 in the June quarter 2015."
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Sydney leads residential price index for June quarter: ABS

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National buyer's advocacy group Cohen Handler has leased the penthouse office at 52 Park Street Melbourne at $582sqm net - well above what is considered 'A Grade' CBD rents of between $423 to $548sqm net.
The 80sqm space has luxury fittings and private and shared balconies with views to Port Phillip Bay and Albert Park. 
Savills Australia’s Tim Sugar said the presumed record rent has underscored what has been an emerging trend to special or boutique office space on the CBD fringe. 
"There is definitely an emergence of home based businesses that are looking for something special/boutique that is closer to the action for their clientele but also acts as an office away from home or their current office," he said.
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Cohen Handler move into Melbourne office penthouse

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Gold Coast dwelling prices have been tipped to perform next year with new data from SQM Research predicting a rise of between 7% to 11% due to a number of factors including a strong tourism dollar, low rental vacancy rates and high rental yields.
Managing director of SQM Research, Louis Christopher, said they lifted their investment rating for the Gold Coast from 3.0 stars issued in 2011 to 3.75 stars.
“Back in 2010 the Gold Coast housing market suffered a perfect storm of events that created a major dwelling price crash," he said.
"A lot of those events have now dissipated and right now, there are many favourable economic factors which are helping to improve the region.
"So we believe Gold Coast property investors are likely to enjoy good returns, both in rents and capital growth for up to the next three years.”
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Gold Coast tipped to perform in 2016: SQM Research

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Two bedroom units on flat land close to the town of Lennox head is currently in high demand, with demand for attached housing in Byron Bay, Mullumbimby, Lennox Head and Ocean Shores and nearby areas up, according to Herron Todd White.
Herron Todd White's September Month in Review noted demand in Lennox Head forced developers re-think design options with unit stock across the region limited and in high demand.
The review said interstate buyers from Sydney and Melbourne who are used to smaller land areas still find duplex units and townhouses with yard space attractive and not overly different to the overall land areas they were used to.
"Off the plan purchases are still at a minimum and agents are reporting they are hard to convert into sales until the finished product is near fully complete," it said.
"Ocean Shores and surrounds is considered a good opportunity. The buy-in prices are relatively cheap when compared with the larger resort townships of Byron Bay and Lennox Head."
 
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Attached housing demand in Byron Bay, Lennox Head and surrounds up: Herron Todd White

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A large number of residential apartments along Canberra's Flemington Road corridor through suburbs Franklin and Harrison could be delayed until pre-commitment sales increase and demand strengthens, according to Herron Todd White.
Herron Todd White's September Month in Review found a large number of medium density apartment developments either being built or nearing completion in Belconnen, Central Canberra, Gungahlin and Woden with high quality inclusions and in some cases smaller floor plates.
"The entry level price point for a modern 1-bedroom unit in the Gungahlin area is around $260,000, while high value, centrally located penthouse style units can achieve $2 million plus price levels," it said.
"The average number of multi unit sales in Canberra equates to 3,000 to 3,500 on average per annum. Of this amount approximately 50% are new units. Accordingly, some 1,750 new multi unit dwellings are required to meet annual demand in this sector of the market."
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Unit construction tied to pre-commitment sales in Canberra suburbs: Herron Todd White

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The top sale of the week was a parkside home in Kew on approx 1,618sqm of land with five bedrooms and four bathrooms, according to CoreLogic RP Data.
This architect-designed three-level residence, with 38.1m park frontage to Kellett Reserve, at <a href="https://www.realestate.com.au/property-house-vic-kew-120539825" target="_blank">15 Park Lane, Kew</a> (Above) sold for $6,910,000 through Kay &amp; Burton Hawthorn. 
Top ten sales over the past week were:
15 Park Lane, Kew, Vic, 5 bed, 4 bath, 6 car house $6,910,000 Kay &amp; Burton Hawthorn 
33 Wybalena Road, Hunters Hill, NSW 8 bed, 7 bath, 5 car house $6,850,000 House 18 Sydney 
10 Fortescue Street, Chiswick, NSW 5 bed, 4 bath, 2 car house $4,850,000 BresicWhitney Hunters Hill 
96a Victoria Avenue, Dalkeith, WA 3 bed, 2 bath, 2 car house $4,500,000 William Porteous Properties Dalkeith 
17 Victoria Square, Ashfield, NSW 4 bed, 2 bath, 1 car house $4,400,000 Harris Tripp Summer Hill 
3/67 Undercliff Road, Freshwater, NSW 4 bed, 2 bath, 2 car unit $4,250,000 Clarke &amp; Humel Property Manly 
1 Lugar Street, Bronte, NSW 4 bed, 2 bath, 3 car house $3,950,000 Phillips Pantzer Donnelley Real Estate 
33 Service Street, Hampton, Vic 5 bed, 3 bath, 4 car house $3,900,000 Marshall White Brighton 
1 Carrington Avenue, Mosman, NSW 5 bed, 3 bath, 2 car house $3,850,000 O’Gorman &amp; Partners Mosman 
6 Moore Street, Hawthorn, Vic 3 bed, 2 bath, 2 car house $3,750,000 Jellis Craig Hawthorn
 
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Kew trophy sale tops CoreLogic RP Data top 10 list

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Brisbane's preliminary auction clearance rate is at 52.8% from a total of 108 total reported auction results for the week ending 20 September, according to CoreLogic RP Data's Property Market Indicator Summary.
Some 29 auction results have been reported for the Gold Coast region so far, with a preliminary clearance rate of 41.4%.
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Brisbane's preliminary auction clearance rate at 52.8%: CoreLogic RP Data

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Melbourne has a preliminary clearance rate for the week ending 20 September at 73.3%, down 1% from last week, according to CoreLogic RP Data's latest Property Market Indicator Summary.
According to CoreLogic RP Data 1,091 residential properties went to auction last week down from last week and the same period one year ago.
Melbourne’s Outer East had a preliminary clearance rate of 78.4%, with 74 reported auctions were sold. 
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Melbourne preliminary clearance rate at 73.3%: CoreLogic RP Data

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Industrial areas in South East Melbourne's Mount Waverley and Oakleigh are in high demand currently due to the conversion of industrial properties into residential  developments.
Only four of the 28 units remain not he market at Spectrum Business Park,  <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-mount+waverley-501259367" target="_blank">21-35 Ricketts Road Mount Waverley</a>, and 19 of the 25 office warehouses at Industria, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-oakleigh-500996351" target="_blank">20 Edward Street, Oakleigh</a> are already sold. 
Luke Pitcher, manager of project marketing for Crabtrees Real Estates said the most in demand properties are those in the price points from $500,000 to $1.3 million.
"The ratio of investors to owner occupiers in these recent sales was approximately 60% owner occupiers to 40% investors," he said.
“Investors are successfully leasing the units and gaining net returns of approximately 6-7%." 
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South East Melbourne's Mount Waverley, Oakleigh in demand

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" />

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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.

Joel Robinson

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.

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WM Residences fills gap in Mordialloc townhouse market

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Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

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Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

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Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
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The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

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Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

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The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

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Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

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Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

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Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

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NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

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According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Michael Crawford

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