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2SM radio broadcaster John Laws’ Edgecliff triplex investment apartment has sold prior to its scheduled auction for apparently just under $3 million.
Property Observer <a href="/news">reported</a> on the listing last month, when slightly more than $3 million was tipped.
Buyers had concerns as to the possible impact of a nearby development.  
The apartment occupies almost the entire top floor of the Albert Street period triplex and features four bedrooms and two bathrooms.
Offering harbour views, it last traded at $2.03 million in 1998.
The sale was secured through James Keenan of <a href="https://rwdbgroup.com/nsw/edgecliff/966660/" target="_blank">Ray White Double Bay</a>.
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2SM Radio Broadcaster John Laws' triplex apartment sells prior to auction

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On Purchase or Pass this week, we are joined by Charles Tarbey, chairman of Century 21, to evaluate a potential investment property with concrete cancer in Tamarama.

Cancer is a terrible disease and almost everyone knows someone that has been affected by it. It doesn’t just affect humans though; it also attacks property in the form of concrete cancer. Many Australians may not have come across it when searching for a home or an investment, but for those living around Australia’s beaches, it’s becoming more common with all the salty sea air. So should it turn you off a property?

This renovators delight is a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-tamarama-nsw-2026/139636" target="_blank">two-bedroom, one-bathroom unit</a> with undercover car space, 7.8 kilometres from the Sydney CBD. The block isn’t the best looking building from the rear lane access but only has nine units in it and has some tremendous views from the balcony. The property was advertised for sale for $795,000 as a deceased estate and will rent for $650 per week. The property is in need of a major renovation though, which is likely to cost around $80,000 if done properly, giving it an improved rent of $800 per week. The downside of the investment is the concrete cancer in the ceiling of the car park.

{qtube vid:=SrixG-JM1nE&amp;feature=youtu.be}

Chris Gray: So just as a general thing Charles, for people who haven’t come across concrete cancer, how bad can it be?

Charles Tarbey: Oh look, it can be repaired, you can get through it without too much issue, it just depends on how much damage there is Chris. But it can be in the millions of dollars if you’re not careful, but particularly if it’s through the whole complex, that’s something that is going to affect the strata fees.

Chris Gray: So especially when you’re in a strata block and a bigger one, then people try to hide away from things and say I’ve got no money and then it does become a major problem.

Charles Tarbey: Yeah, and the sinking fund may not cover what’s needed, more money may need to be raised. You get in there and before you know it, you’ve purchased a property that you’ve got to raise a lot more money for yourself to be a part of that complex.

Chris Gray: Now certainly looking on the internal side of it, $80,000 to transform a unit is plenty of cash. If you increase the rent by $150 on that, is that a good use of your money?

Charles Tarbey: Yeah, if you look at the interest rates today, $80,000 is probably going to be a lot less in interest repayments than it would be in rent.

Chris Gray: It’s like $4,000 a year.

Charles Tarbey: Ok, you’ll pick up there. But I think it’s the capital gain you have to look at, that’s why you’re buying these places, at the end of the day you’re looking for the capital gain and I do think capital gain is on its way back over the next couple of years and going to surprise a lot of people.

Chris Gray: How important is it putting money into the strata, I mean there is a lot of people that have been in a unit for 30 years, that bought it for probably $100,000 and it’s now worth a million, but they’re stilling not willing, because they don’t have the cash, to put money into the strata.

Charles Tarbey: I watch with interest the different types of properties that are for sale right now in the market place and what’s happened over the last few years, and I’m fortunate enough to have an apartment in the city of Sydney. I purchased it in a complex and the reason I did is because the strata is so well run and over the last three to four years, that particular strata complex and the sales that have gone through there have increased in sales, when across the road they decreased in price. I’m sorry increased in price as opposed to decrease in price and that’s because of the way the strata is run. So I think it’s absolutely critical. You could get one of those small complexes and really make them look fantastic with a small amount of money and again, it increases the value.

Chris Gray: Sounds good. Now the property was actually sold, a contract fell over and it actually sold for $700,000 odd and based on that, purchase or pass for you Charles?

Charles Tarbey: Well I think it would be great for somebody who knew what they were doing. For me, I’m too lazy so I’m going to pass. You’d probably purchase because you have the time to go in and fix it.

Chris Gray: Yeah look, for me, the unit is in a great position but it’s not in the best condition. But for me, a quick four to six week renovation will give you a massive increase in rent and give you a similar increase in equity as well. I think you’re getting the property at a great price, so even if the cancer costs $10,000 or $20,000 I think it's still good so for me it’s definitely a purchase.

 

Other properties near the Eastern Suburbs

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Purchase or Pass? An investment property with concrete cancer in Tamarama

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Channel Seven’s House Rules recorded its highest non-house-reveal ratings last night when it trumped its Channel Nine competitor, The Block Sky High Unlocked in the 8 pm Thursday timeslot.
House Rules rated 1.007 million across metropolitan capitals last night, according to OzTAM, the fourth most watched show last night.
The Melbourne audience had a strong 270,000 viewers - due to it being <a target="_blank" href="https://www.propertyobserver.com.au/news/preston-house-rules-renovation-with-%24524000-mortgage-after-%24555000-purchase/2013052961771" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Melbourne house week</a> on the show. The series began in the boondocks of Perth and Hobart over the first two weeks.
The Block Unlocked, a half-hour catch up show, attracted 807,000 viewers, and its Melbourne audience was an even stronger 291,000.
It is the <a target="_blank" href="/news">second week</a> in a row that House Rules has fared better than The Block when both shows have been on air at once.
However, The Block Sky High in the 7 pm slow is still attracting the most ratings with 1.087 million recorded last night – the third most watched show behind Nine and Seven news.
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House Rules hammers The Block Sky High Unlocked for a second time

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A pair of semis on the foreshore of Watsons Bay have sold for $4.25 million.
Located on Marine Parade, the residences were sold as one title, with each featuring two bedrooms and a bathroom.
The properties feature timber floors, high ceilings, north facing landscaped gardens, a deck and plunge pool.
The 491-square-metre property was granted planning approval in 2011 for one residence.
Watsons Bay is located 11 kilometres form the Sydney CBD in the municipality of Woollahra.
The property was sold through Hamish Robertson and Ben Collier of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-watsons-bay-nsw-2030/163936">McGrath Real Estate.</a>
The semis had been offered at auction late last year by the thoroughbred-horse breeder Jocelyn May.
The Marine Parade semis were initially listed in August 2012 with $6 million price hopes but reduced to more than $4.5 million for the auction marketing campaign.
They had been owned by the May family for more than 50 years.
Elsewhere along the beachfront boardwalk near the Doyles restaurant, the May family sold another pair for $6 million to developer Graham Werry in 2007. 
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Two semis sell in Watsons Bay for $4.25 million

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If you’ve ever imagined yourself in shining armour, you can now secure your very own castle in Research, Victoria, listed with a price guide in excess of $1.6 million.
But as it was listed last year, it appears there's not too many knights around these days.  
The ten-bedroom, eight-bathroom Crest Castle is located on Crest Road and features turrets, bluestones, a lagoon, rough sawn timbers and a treetop footbridge.
The 4,392-square-metre lot also hosts a self-contained unit.
Crest Castle was built in the 1970s by an English bricklayer and in the 1980s underwent a major overhaul to turn the family home into an aged care facility.
In the late 80s, the requirement for age care facilities changed and Crest Castle was shut down, lying dormant for ten years.
The current owners have lived in the castle for over 12 years, after overhauling the property.
The property holds a permit for 30 guests, allowing it to act as a bed-and-breakfast business, charging $195 to $220 per night.
Selling agent Tristan Messerle of <a target="_blank" href="https://www.morrisonkleeman.com.au/index.cfm?pagecall=property&amp;propertyID=2323336&amp;realestate=24_Crest_Road_RESEARCH_VIC_3095">Morrison Kleeman Estate Agents Eltham</a> says the current owners operate the bed-and-breakfast out of their home as a hobby.
Messerle says there has been interest in turning Crest Castle into a reception, however the small block does not offer much parking. 
The median house price in Research is $612,500, according to <a href="/news">RP Data.</a>
<img src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57" alt="trophyhomesstrapone">
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Castle in Research Victoria listed for $1.6 million-plus

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Property Observer takes a look around the nation for what $300,000 or less bought you last month in a few capital cities.
A two-bedroom, one-bathroom unit in Sydney’s <a target="_blank" href="/news">Liverpool</a> sold for $230,000.
The 89-square-metre unit was advertised for $239,000 and last sold in 2006 for $170,000.
It features an entertainers balcony, floating timber floors and a single lock up garage.
It offers a rental yield of approximately 7.23% annually if rented out for the maximum asking price of $320 a week.
The property was sold through <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/charles-street-liverpool/Property-Details-sold-residential-5280535">Real Equity First National</a>.
A one-bedroom studio on Spencer Street in the <a target="_blank" href="/news">Melbourne CBD</a> sold for $225,000.
The partially furnished studio is located on the seventh floor and comes with a dishwasher, microwave, washing machine and dryer. 
The apartment complex features a gymnasium and pool.
The studio offers a rental yield of around 8%, with the potential to be let out for $320 to $350 per week.
The property was sold through Travis Corbett of <a target="_blank" href="https://www.chambersre.com.au/selling/VIC/Inner-City/Melbourne/Apartment/1P1739">Chambers Real Estate Fitzroy North</a>.
Over the nation to Perth, a one-bedroom, one-bathroom unit in <a target="_blank" href="/news">Highgate</a> sold for $297,500.
The furnished 73-square-metre unit includes a private courtyard and is within walking distance to the CBD. 
It last sold in March 2012 for $269,000 and has a rental yield of 6.12%.
It was sold through Tim Tyler of <a target="_blank" href="https://www.realestate.com.au/property-unit-wa-highgate-113786415">Tyler and Sons Perth.</a>
A one-bedroom, one-bathroom unit on Cavenagh Street in Darwin sold for $225,000.
The unit is furnished and was sold through Ron Shaw of <a target="_blank" href="https://www.realestate.com.au/property-unit-nt-darwin-111679775">Alliance Realty Larrakeyah</a>.
The unit last sold in June 2007 for $129,000 and has a rental yield of approximately 7.28%.
Down south to Tasmania where a two-bedroom unit on Cuthbertson Place in <a target="_blank" href="/news">Lenah Valley</a> sold on May 23 for $245,000 - originally advertised for $290,000.
The villa comes with a large backyard and a rear parcel of flat land that has unit potential, subject to approval.
The property has the potential of a rental yield of 5.31% with an asking rent of $250 per week.
The property was sold through <a target="_blank" href="https://www.prdnationwide.com.au/PropertySearch//pid/13577/default.aspx?pagesize=10&amp;sort=dated&amp;listtype=default&amp;page=1&amp;msp=1&amp;ssid=48969">PRD Nationwide Hobart</a>.
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What $300k or less bought you around the nation last month: Units

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A quaint weatherboard home, Appletree Cottage in the Southern Highlands village of Burrawang, is listed for sale at $710,000.
The newly renovated investment property of magazine publisher Michael Lynch and Patsy Peacock is a 90-minute drive from the Sydney CBD.
The two-bedroom home features high ceilings, open fireplaces and timber floorboards.
The home features a renovated kitchen with original wood oven and a lounge/library surrounded by bookshelves.
The property also features a covered deck with built in day beds, landscaped gardens and a veggie and herb garden.
The home was bought in November 2010 for $482,500.
<a href="https://www.randw.com.au/685600/" target="_blank">Michael Maloney of Richardson &amp; Wrench Bowral is listed as the selling agent.</a>
<a href="/news">Burrawang</a> is 103 kilometres southwest of Sydney.
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Quaint Appletree Cottage in Burrawang listed

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The number of auctions being held across the nation continues to climb, with 1,719 auctions scheduled for the coming week, according to RP Data.
The figure is slightly higher than the revised figure of 1,645 auctions last week and the revised figure of 1,520 auctions the previous week.
Last week, the clearance rate rose to a revised 68.1%, up from 67.3% the week prior.
At the same time last year the clearance rate was much lower at 50.5% and only 1,418 auctions were recorded.
Melbourne has 804 auctions scheduled for the coming week, slightly more than the revised figure of 795 last week and 738 auctions the week prior.
However, Melbourne’s clearance rate eased from 71.9% to 69.6% last week but is much higher than the same time last year, when it was 55.2%.
Meanwhile, Sydney’s clearance rate increased from the revised figure of 72.1% the previous week to 73.2% last week.
Sydney has 576 auctions scheduled for this week, slightly less than the revised figure of 588 auctions last week but still more than the previous week of 516 auctions.
At the same time last year, Sydney had a clearance rate of 51.3%.
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Scheduled auctions continue to climb despite winter's arrival: RP Data

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Amid The Biggest Loser Steve "The Commando" Willis and Michelle Bridges affair, it has come to light that Steve Willis and his partner, Froso had only recently bought their dream Sydney home.
The home is located in the St George municipality costing $1,325,000 last August.
Situated on 550 square metres, the three bedroom, three bathroom Sandringham home (pictured below) had previously sold in 2002 for $680,000.
{yoogallery src=[images/stories/2013/05/may28commando]}
But in the interim had been transformed by architect William Smart of Smart Design Studio.
Steve Willis’ partner Froso claimed she first learned of the affair between The Biggest Loser personal trainers in March when Willis failed to come home after The Biggest Loser wrap party.
“They had planned a holiday and they had just purchased their dream family home," a family friend told Woman’s Day.
The home boasts antique front doors imported from Mexico and the kitchen features Calcutta marble bench tops.
Bi-fold doors open up to a private yard with a swimming pool and a custom designed summer house.
The median house price in <a href="/news">Sandringham</a> is $1,105,500, according to RP Data.
The home was purchased through Liam Tsaprazis of McGrath Edgecliff.
The family previously owned a villa unit on Francis Ave in Brighton-Le-Sands before selling it in September 2011 for $565,000. They had sought $500,000 plus.
The 172-square-metre two bedroom renovated unit (pictured below) with courtyard sold to Jeffrey Fenech through Liam Tsaprazis and Greg Tsaprazis of <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/townhouse-brighton-le-sands-nsw-2216/135299" target="_blank">McGrath Real Estate.</a>
{yoogallery src=[images/stories/2013/05/may28commandotwo]}
The median unit price in <a href="/news">Brighton-Le-Sands</a> is $475,000, according to RP Data.
Willis has operated a gym at the <a href="/news">Kogarah</a> premises.
Bridges confirmed on 2DayFM last week that Willis and herself were dating, after months of speculation.
Bridges, who is now living in <a href="https://www.propertyobserver.com.au/residential/the-biggest-loser-s-michelle-bridges-wins-big-as-potts-point-prestige-prices-shed-kilograms/2013050260969" target="_blank">Potts Point</a>, split from her husband of nine years in March.
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Steve "The Commando" Willis family dream home in Sandringham, Sydney cost $1,325,000

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A $4.9 million modern mansion boasting views of the Sydney Harbour and Opera House topped the list of the most expensive sales last week, according to RP Data.
Located on Wallangra Road <a target="_blank" href="/news">Dover Heights</a>, the five-bedroom, four-bathroom home sold under the hammer on May 25 through <a target="_blank" href="https://www.sothebysrealty.com/eng/sales/detail/180-l-2507-4000041171/58-wallangra-road-dover-heights-nsw-2030-sydney-sw-2030">Sydney Sotherby’s International Realty</a> inconjunction with Steven Zoellner and D’Leanne Lewis at Laing+Simmons Double Bay
Situated on 626 square metres, the home is architecturally designed based on Feng Shui principles to enhance positive energy.
There's a CaesarStone kitchen, home theatre and a teenage retreat or nanny’s quarters with a wet bar.
The home boasts a rooftop terrace with 360-degree views, an outdoor pool and barbeque terrace as well as bi-fold glass doors and high ceilings.
The property last sold in March 2005 for $4.6 million.
New South Wales is back to dominating the list, securing nine spots.
The ten most expensive sales last week:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/58_wallangra_road_dover_heights_nsw_2030/2121714">58 Wallangra Road, Dover Heights, NSW, 2030</a>, five-bedroom house, sold at auction on May 25 by Sydney Sotheby's International Realty for $4.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/87_chalmers_road_strathfield_nsw_2135/6481643">87 Chalmers Road, Strathfield, NSW, 2135</a>, six-bedroom house, sold at auction on May 25 by Georges Ellis &amp; Company for $2.942 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/98_darling_street_balmain_east_nsw_2041/1261601">98 Darling Street, Balmain East, NSW, 2041</a>, five-bedroom house, sold at auction on May 25 by Cobden &amp; Hayson for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/146_hotham_street_east_melbourne_vic_3002/10875178">146 Hotham Street, East Melbourne, VIC, 3002</a>, four-bedroom house, sold at auction on May 25 by Abercromby's Real Estate for $2.7 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/27_fourth_avenue_willoughby_east_nsw_2068/7599293">27 Fourth Avenue, Willoughby East, NSW, 2068</a>, four-bedroom house, sold at auction on May 25 by McGrath Northbridge for $2.62 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_mcgowan_street_putney_nsw_2112/5633989">12 Mcgowan Street, Putney, NSW, 2112</a>, three-bedroom house, sold at auction on May 25 by Ray White Gladesville for $2.535 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_courallie_road_northbridge_nsw_2063/5068600">28 Courallie Road, Northbridge, NSW, 2063</a>, four-bedroom house, sold at auction on May 25 by McGrath Neutral Bay for $2.52 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/57_finlayson_street_lane_cove_nsw_2066/3590110">57 Finlayson Street, Lane Cove, NSW, 2066</a>, five-bedroom house, sold after auction on May 23 by Belle Property Lane Cove for $2.365 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_chester_street_woollahra_nsw_2025/7734447">7 Chester Street, Woollahra, NSW, 2025</a>, four-bedroom house, sold at auction on May 21 by Di Jones Real Estate for $2.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9_rowland_avenue_bondi_nsw_2026/1519170">9 Rowland Avenue, Bondi, NSW, 2026</a>, four-bedroom house, sold at auction on May 21 by Di Jones Real Estate for $2.15 million
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Feng Shui Dover Heights mansion trophy home sale: 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]

Nicola Trotman

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