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Former International Olympic Committee Vice-President and Shell CEO Kevan Gosper and wife Judy have sold their sub-penthouse in Melbourne's 'tower of power' Isis building, South Yarra.
It was <a href="/news/kevan-gosper-lists-south-yarra-trophy-apartment">first listed late August</a> with expectations of around $5.8 million. The Gospers purchased off the plan 11 years ago and a selling due to travel commitments.
The property sold through Jock Langley and Michael Derham of Abercromby's Real Estate without price disclosure.
Wood Marsh Architects designed the block, surrounded by gardens by Rick Eckersley. 
 The 400-square-metre apartment is one of seven developed on what were the grounds of Kalitha, the trophy home of Melbourne’s theatre operating family, the Carrolls.
The low-rise Isis building owners include former Ford boss Jacques Nasser.
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mick.cee-iDmgDDAmu8

Kevan Gosper sells tower of power South Yarra sub-penthouse

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Australian Catholic University has purchased a 13-storey office tower at 33 Berry Street North Sydney for an undisclosed sum through an off market expressions of interest campaign.
Located on the corner of Pacific Highway and Berry Street, the office was purchased to meet increasing numbers of students and teachers.
Colliers International’s Henry Burke said the property is fully leased and has a mixed use zoning.
“After owning the property for more than 20 years, the vendor is sad to see it sold but knew that the timing was right to move on, particularly given the strong lease profile and flexible zoning on offer to purchasers” he said.
 
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Australian Catholic University buys prime North Sydney spot  

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New development plans for Martin Place include outdoor dining between Sydney's Pitt and George Streets near the World War One memorial the Cenotaph.
The City is looking for public comment on the new draft policies which include a City North public domain plan that outlines new works to enliven Martin Place and streets running into Alfred Street at Circular Quay in preparation for light rail, and outdoor dining policies to cut red tape and make it easier to introduce outdoor dining by simplifying applications and extending licence periods to help create a more vibrant and active City.
<img src="/images/2015/09/17/martin.jpg" alt="" width="495" height="359">
Under the proposed plan, restaurants can seek permits for outdoor tables well away from the Cenotaph.
Proposed changes also include upgrades to Alfred Street, Loftus Street, Reiby Place, Young Street and Phillip Street.
 
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Outdoor dining key to Martin Place makeover

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A Pyrmont site has been sold for $22.4 million with potential for development into approximately 50 residential apartments.
Government Property NSW has sold the 1,846sqm site at <a href="https://www.realcommercial.com.au/property-land+development-nsw-pyrmont-501551663" target="_blank">108 Miller Street, Pyrmont</a> to real estate developer, Thirdi Group.
Savills selling agent Stuart Cox said this site combined a remarkable location with exceptional potential for luxury residential apartments which attracted a multitude of enquiries from local and international developers.
“With a current median unit price of $950,000 in Pyrmont and the preference for inner city apartment living prices are expected to achieve over $18,000/sq m of NSA,” he said.
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Pyrmont site sold for $22.4 million

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GUEST OBSERVER
Of course, I finished my <a href="/expert-insights/is-sydney-now-the-rotten-apple-for-investors-oasis-gavin-mcpherson">last article</a> with a poke at the overpriced markets of Sydney and Melbourne. Now for someone that calls Sydney ‘home’ 3-4 days per week and in South East Queensland the other 3-4, I may as well call my hand early. That is...I’d only invest in Sydney and Melbourne perpetually, if all things were even.
The problem however is that things aren’t even, and they never have been. So let’s explore those discrepancies.
So with the prerequisite that you should read my last article, allow me to switch from bear to bull and start with the ripe opportunities that sit north of the NSW border. And I’ll start with the counterpoint of my last article with the introduction that “the cure for low prices...IS low prices.”
I’d ask the reader to think about it this way...using Gold Coast as an example.
<ul>
<li>Gold Coast didsuffer from overdevelopment in 2007. Over 100 cranes in the sky were witnessed with as many as 14,500 apartments (approved in 2004-2006) advanced from concept to delivery.  Of course, many of these sold while the market was solid, but as history would demonstrate, as many as 3000-4000 new apartments (without buyers) were delivered to the market just when the market turned on the eve of the Global Financial Crisis. Some of these properties still traded, with disgruntled buyers settling on them at the risk of being sued. Many of them returned these to the market trying to recover their costs. They failed.  Others returned their contracts and lost their property deposits. All in all, the market was flooded with all sellers trying to head for the exit at the same time, not to mention the oversupply of rental property, tipping the Gold Coast into 4%+ territory, one of the weakest across Australia.</li>
<li>But while the above took all the headlines, think about the effect this had on construction. Pre GFC, the Gold Coast had a raft of over 100 cranes featured in the skyline to satisfy the appetite of developers. Full circle to 2011, once the already committed projects of the Hilton and Soul were constructed...a total of only one crane only graced the Gold Coast skyline.</li>
<li>Fast forward 4-5 years, seeing in record low interest rates for domestic buyers and a stellar exchange rate for overseas buyers, Gold Coast is craving for more dwellings. How would I know this? Do you think I just made this up? </li>
</ul>
It’s easy. The Gold Coast now has sub 1% vacancy rates (REIQ). In fact, while other figures show 1.8% across the whole of the coast, it’s well understood that the congestion does appear on in the Surfers/Broadbeach /Mermaid and Main Beach districts, putting further downward pressure on this figure. Vacancy rates are a symptom of a market that does not have enough property. It’s also the reason why I envelope this notion in the adage that “low prices IS the cure for low prices.”
Bottom line, all the extra property that had been on the market after the GFC has been bought. Whether it sold for high, low or firesale prices is irrelevant. That property is all gone. Sold. And most likely with long term owners who are braced for long term investment, not about to return it to the market tomorrow and realise only minor profits. 
<ul>
<li>With vacancy rates this low and the Southern markets of Sydney and Melbourne now reaching their zenith, one also has the value proposition that the Gold Coast presents to the foreign buyer. A quick check on the algorithm for the $AUD to Chinese RMB (now 4.60 to $1AUD), noting that five years ago the equation represented a 25% currency increase, with the RMB to $AUD at 6.12. If you thought Gold Coast property was cheap before, try it with a 25% discount!</li>
</ul>
I concede that a 25% currency discount is an almost unfair advantage, and it’s the reason why my advice to clients now is not to hesitate on purchasing in the Gold Coast. With vacancy rates so low, a simple $450k investment, realising up to $480/$500 per week rental is all possible, with the near term pressure to push the rental yields up even higher as the sea change effect also brings more residents to the Gold Coast. 
Again I ask, do you think I’m guessing about this [migration to the Coast] Sea Change effect? Think again. For those who thought that Gold Coast is an employment desert, I’d challenge that with facts. In 2014, the Coast provided a whopping 181,856 net jobs increase. A different data sample reveals similar outcomes with recent figures from the Australian Bureau of Statistics (ABS) pointing to 14,100 net jobs increase per month. The fact that in 2013 that figure was 19,662 should demonstrate that the trajectory is not just good...it’s gobsmacking. With a current population of 535,000 and projections of a population of 680,000 by 2021, (QLD Office of Economy and Statistical Research Population) there is a lot of room for rationing this growth and still achieving outstanding property prices in the near future.  These recent ABS figures put the Gold Coast at the top of Queensland’s employment economy.  
Of course, other regions are not immune to the same primary drivers that subscribe to this logic (the cure for low prices IS low prices). That brings Wollongong, the Hunter and certainly some other regional bastions like Cairns and Townsville. For me however, the clincher is certainly the extra ‘froth’ that gets created around Gold Coast by the strong support by overseas investment. That is not to say some of these other regions do not see the same benefit; they do. But in its brief but important history, the Gold Coast sits at the top of the queue for international investment. And with all signs pointing to more inward investment that out with the $AUD exchange rate, look for “the Goldie” to outstrip all its peers in spades!  
So with my investor hat on now and the old adage that ‘the trend is your friend’...this is one trend that, in my opinion, is not only predictable...but imminent!
Gavin McPherson is chief executive officer of Oasis Property Buyers Agency and author of "Value Investing in Property: What would Warren Buffet do if he was investing in property in Australia?" He can be contacted <a href="https://www.oasisproperty.com.au/oasis-buyers/oasis-property-buyers.php" target="_blank">here</a>.
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The ripe apple for investors? Oasis' Gavin McPherson

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Hervey Bay has gradually absorbed any excess apartment overstock over the last five to six years after a sustained period of oversupply and wavering sales prices, according to Herron Todd White.
Herron Todd White's September Month in Review found currently there is reasonable demand for units close to the CBD and beach, with the sales price difference between new and old apartments minimal.
"Onground 1990 two bedroom, one bathroom units may sell for only $20,000 less than a circa 2007 modern two bedroom, two bathroom townhouse in a similar location," the report noted.
"It appears that the demand for onground units appeals to a wider market and is likely to appeal to an older buyer (with many retired residents on the Fraser Coast).
"Most of the older unit stock in original condition predominantly sells from $190,000 up to $230,000. Newer units may typically sell for between $250,000 and $330,000, with higher priced stock above this range selling for $380,000. Buyers in the unit market comprise a mix of investors and owner occupiers, with most units selling within six months of the original listing."
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Affordability key to Hervey Bay unit market: Herron Todd White

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Units and apartment complexes in Mildura constructed between 1970 and 1990 are seen as a safe, positive cash flow investment, according to Herron Todd White.
Herron Todd White's September Month in Review found apartments and complexes built during period, typically containing three or four attached two bedroom units, 1.5km from the city have strong occupancy rates.
The report noted value movements have tended to be lower for attached units than for detached housing, although increasing rents and decreasing interest rates have made their yield more attractive in recent times.
"Some complexes are held under an Owner Corporation structure, while others are not and our advice to owners has been that it is probably not worth strata titling those complexes still on a single title, as these complexes are quite affordable for investors, typically selling for between $300,000 and $500,000," the report said. 
"There are still opportunities to refurbish some of the older unit complexes with the benefit of then generating higher rents and reduced maintenance costs."
 
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Land appreciates, buildings don't in Mildura: Herron Todd White

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The New South Wales government is shooting for a target of 90% of housing approvals processed within 40 days however will need a better planning system to achieve this, according to the Property Council of Australia.
The state government outlined the possibility of the new accountability framework this week.
Property Council of Australia executive director Glenn Byres said reaching the 40-day target will require a quantum leap forward in culture, process and practice, particularly for multi-unit residential projects now common in the market.
“The Government's own data makes clear the average determination time for residential development applications is currently 65 days," he said.
"We know Sydney is forecast to have a housing supply deficit of 190,000 by 2024 without action – and reducing the time and cost of bringing new homes to market is part of the fix.
“This requires swifter pathways for all housing but there needs to be a particular emphasis on multi-unit residential given the urban renewal occurring in Sydney."
 
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Better planning system needed to achieve NSW approval goals: Property Council of Australia

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An educator has paid $13 million for a Collingwood office building inside the Foy &amp; Gibson complex at 150 Oxford Street.
The four level property totals <a href="https://www.realcommercial.com.au/property-land+development-vic-collingwood-501652433" target="_blank">3336 square metres of office space </a>over two levels with a lower level warehouse and 86 car spaces over the remaining two levels.
Savills agent Clinton Baxter, who brokered the deal with Colliers’ Peter Bremner and Ted Dwyer said significant interest had come from developers desperately seeking residential development opportunities in Collingwood given the demand for inner-city apartments.
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$13 million paid for Collingwood office building

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The unit market around the Sunshine Coast is patchy, according to Herron Todd White, who believe the market peaked early 2008 and unit sales activity halved to their lowest point in 2012.
Herron Todd White's September Month in Review said sellers became more accepting of the repriced unit market with an increase in volumes in 2014 and sales volumes and median prices are on track to beating that in 2015.
"Unlike houses, the unit values have increased but far more slowly with a median unit price in 2014 of $352,000," the report noted.
"In 2015 we are on track for sales volumes and median prices to better 2014. Most of the activity is below $500,000 which accounts for 77% of the sales. 
"The median unit price reached around $370,000 in 2008 and the volume of sales reaching 4,465 for 2007 and 3,337 for 2008. After this, sales halved to their lowest point in 2012 at 2,290 sales and a median unit price low of $345,000."
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Sunshine Coast units peaked in 2008: Herron Todd White

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.

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

&nbsp;

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.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

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.

[smartcode_project:default project_id=144441 project_image_fid=370980]

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.

[smartcode_project:default project_id=144441 project_image_fid=370979]

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.

[smartcode_project:default project_id=108274 project_image_fid=365784]

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.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

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.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

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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