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Cromwell Property Group has acquired a $405 million portfolio of New South Wales government offices.
New South Wales finance minister Greg Pearce says the seven office buildings sold for $100 million above expectations.
The portfolio includes two Sydney office towers – Bligh House and McKell Building – and office properties located in Wollongong, Newcastle and Queanbeyan.
The offices are 60% leased to long-term government tenants.
Only four bidders made the shortlist, including Charter Hall Group and Arena Investment.
The sale is the first stage of a multi-billion-dollar auction of New South Wales real estate assets.
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Cromwell secures $405 million government portfolio

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CBRE Group Inc. has appointed Daniel Queenan as the chief operating officer of the company’s Asia Pacific business, effective August 1.
Queenan, who will relocate from Chigaco to CBRE’s Hong Kong office, will work with chief executive Robert Blain to manage CBRE’s Asia Pacific business, with a particular emphasis on working with the company’s country and business line leaders to drive growth.
Queenan will also join CBRE’s senior executive commit, the Asia Pacific Strategy Group.
“Danny is an excellent addition to our leadership team,” says Blain.
“He brings strong management skills and a proven track record of performance to our Asia Pacific Business.
“I am very excited to have him join us and look forward to his partnership in helping to create growth and opportunity for our people and our clients,” says Blain.
Queenan is a 19-year veteran of the real estate industry and has held the position of chief executive of Trammell Crow Company, which he will continue alongside his new position.
Prior to joining CBRE, Queenan was the president and chief executive of a large US real estate development, Opus North Corporation.
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CBRE appoints new chief operating officer for Asia Pacific division

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LJ Hooker has unveiled a new kids app and website to entertain the youngsters while mum and dad engage with a real estate agent.
Mr Hooker Bear’s Letter Pop will help children with their spelling, word place, hand/eye co-ordination, fine motor skills and time management.
Kids will be taken across three environments, including the city, beach and country and will not be able to make their way through levels until successfully passing activities.
“Children attending open for inspections and marketing appraisals with their parents can now have fun with an element of practical learning as they catch letters, build words, watch the clock and engage in time management,” says CEO of LJ Hooker Georg Chmiel.
“LJ Hooker is a family-founded company, that’s why we see our foray combining social media and children’s education as the perfect fit for our company,” says Chmiel.
The free app is available on iPads, iPhones and android devices and can also be accessed as a web version via this <a href="https://kids.ljhooker.com.au/mr-hooker-bears-letter-pop/" target="_blank">link.</a>
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LJ Hooker unveils children's app

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A four-level, five-bedroom South Yarra mansion has been listed for sale with a price guide of $8 million-plus. 
Located on Domain Road, the contemporary property features floor to ceiling windows throughout, a grand library, a spiral staircase and an industrial lift.
The master bedroom is located on a floor-sized rooftop terrace, accompanied by a large balcony, gym and a bar.
The home is architecturally designed by Nicholas Day and Sue Carr and developed by CEEJ Developments.
It was built for a family and was completed approximately 18 months ago, however failed to secure a buyer during its November 2011 marketing campaign with a $10 million-plus asking price.
Is it being sold through expressions of interest closing June 4 through Darren Lewenberg and Gerald Delany of <a href="https://www.281domainrd.com/" target="_blank">Kay and Burton.</a>
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Domain Road, South Yarra $8 million-plus trophy home listing

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Olympic synchronised swimmer Irena Olevski and her husband Dave have listed their South Yarra home for June 1 auction with a $1 million price guide. 
The couple purchased the 1880 classic Victorian home on Surrey Road last year and have given it a complete makeover.
Prior to that, it sold in July 2008 for $690,000.
Located on a 141-square-metre block, the home features three bedrooms and two bathrooms.
The home also boasts rose river and spotted gum floors and a rear courtyard with automatic awning for year round entertainment.
David Lowenstein of Hodges Prahran/South Yarra has <a href="https://www.hodges.com.au/sale/5479647/122surreyroadnorthsouthyarra" target="_blank">listed</a> the property.
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Olympic synchronised swimmer Irena Olevski lists South Yarra home

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Edenhope, one of Moonee Ponds' grandest properties on 2,492 square metres, is on the market with a price guide in excess of $6 million.
Located on Maribyrnong Road, the 1873 property boasts fittings imported from across the world, including hand painted ceilings, Italian marble floors and English wallpaper.
The fountain in the front yard has been imported from Scotland.
Featuring four bedrooms and four bathrooms, the home also includes a ballroom, theatre room, indoor pool and an outdoor kitchen.
Edenhope previously operated as Edenhope Receptions and was held with the same family for over 75 years.
The current vendors purchased the property in 2005 for around $3 million and restored it into a home.
James Vakrinos of RT Edgar says the property's fireplaces are worth $50,000 on their own.
Vakrinos says the owners have spent millions renovating the home and it includes a lot of items money can’t buy, such as antique pieces.
Vakrinos says there has been a lot of enquiries and a couple of offers, but none have met the vendor’s expectations.
“It’s a unique property so it needs a unique buyer as well,” says Vakrinos. 
James Vakrinos and Gerald Betts of RT Edgar have <a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2344121&amp;agentID=3193&amp;realestate=80_Maribyrnong_Road_MOONEE_PONDS_VIC_3039&amp;showGoBack=true">listed</a> the property.
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Edenhope Receptions-cum-renovated home in Moonee Ponds seeks $6 million-plus

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Karen Vogl of Hockingstuart Ringwood has been ranked Australia’s top performing female estate agent in the second Real Estate Business Top 100 Agents list, prepared in partnership with RP Data.
The announcement came yesterday at the Australian Real Estate Conference on the Gold Coast.
The annual ranking rated 100 agents across several criterias including sales volumes, sales numbers and average sale prices.
Vogl (pictured below) ranked 13th overall but took out the female crown, securing 145 properties during 2012, with a total sales volume exceeding $79 million. She sold $80 million worth of property from 148 sales in the first year of the rankings. 
<img alt="karenvogl" height="200" width="150" src="/images/stories/2013/05/karenvogl.png">
Vogl also took out the female crown <a target="_blank" href="https://www.propertyobserver.com.au/residential/mcgrath-mid-north-shore-agent-peter-chauncy-named-australias-top-estate-agent-by-real-estate-business/2012061455117">last year</a>, ranking 11th overall and securing over $80 million in sales.
Vogl has been in the Melbourne real estate industry for 11 years and holds the position of director.
She previously worked in environmental science, where she holds a masters degree.
“Real estate is about people, their expectations, hopes and happiness,” she says.
“It’s a wonderful, challenging responsibility to be handled diligently and with understanding.”
Vogl says Hockingstuart has an atmosphere where she can feel relaxed knowing that everyone is working towards the same goal.
“Providing happiness and peace of mind for our clients through the best real estate service possible.”
Vogl was the only Hockingstuart agent in the top 20.
James Tostevin of Marshall White &amp; Co in Melbourne took out first place, with the 18 year veteran securing 144 sales during 2012, with a total volume exceeding $203 million.
The top 10 female agents are:
<ol>
<li>
<a href="https://www.hockingstuart.com.au/?pagecall=staffMember&amp;staffID=89293" target="_blank">Karen Vogl (Hockingstuart, Ringwood, 13th)</a>
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/agent/Kathleen-Synnott/100" target="_blank">Kathleen Synnott (McGrath Estate Agents, Hunters Hill, 16th)</a>
</li>
<li>
<a href="https://thornleigh.ljhooker.com.au/about-us/our-team/amy-kaslar" target="_blank">Amy Kaslar (LJ Hooker, Thornleigh, 18th)</a>
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/agent/Tracey-Dixon/284" target="_blank">Tracey Dixon (McGrath Estate Agents, Hunters Hill, 27th)</a>
</li>
<li>
<a href="https://www.eldersrealestate.com.au/office/darwin/our-people/gennie-cox" target="_blank">Genevieve Cox (Elders, Palmerston/Darwin, 34th)</a>
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/agent/Alexandra-Stamatiou-Buda/163" target="_blank">Alexandra Stamatiou-Buda (McGrath Estate Agents, Leichhardt, 37th)</a>
</li>
<li>
<a href="https://thornlie.ljhooker.com.au/about-us/our-team/dahlia-rechichi" target="_blank">Dahlia Rechichi (LJ Hooker, Thornlie Southern Perth, 43rd)</a>
</li>
<li>
<a href="https://raywhiterockingham.com.au/agent/elsie-corby/" target="_blank">Elsie Corby (Ray White, Rockingham, 45th)</a>
</li>
<li>
<a href="https://www.eldersrealestate.com.au/office/gladstone/our-people/julie-watts" target="_blank">Julie Watts (Elders, Gladstone, 52nd)</a>
</li>
<li>
<a href="https://c21group.com.au/Team-Profile.php?name=Stephanie%20Hearne" target="_blank">Stephanie Hearne (Century 21, Cordeau Marshall, 55th)</a>
The top 10 agents can be found <a href="https://www.propertyobserver.com.au/industry-news/marshall-white-co-head-australia-s-top-10-leading-estate-agents-while-mcgrath-dominates-arec-marshallwhitere/2013052061494?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">here.</a> Almost 300 agents entered their results for ranking this year. Applicants must nominate themselves and provide details of their sales in the last 12 months.</li>
</ol>
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Karen Vogl, Australia's top female estate agent for second year

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It is still possible to live the farming lifestyle on 41.5 hectares of rolling pastures and only be one hour away from the Melbourne CBD. 
Located on Black Range Road in Romsey, Lansdowne has been held by the same family for over 50 years.
<a target="_blank" href="https://www.prh.com.au/property-overview?listing_id=641">The 41.5-hectare property</a> is spread across two titles and includes sheep and cattle yards, timber woolshed, hay sheds and three paddock dams.
The farm includes a long road frontage to a five-bedroom timber home, which was constructed in 1965.
“With the Melbourne metropolitan area only about one hour away, I consider Landsdowne at Romsey as ideal for a buyer who wants to retain an easy business, family or similar connection to the city,” says listing agent Peter Hawkins of Pat Rice and Hawkins.
The property is being sold as EOI, closing June 14.
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Romsey 41.5 hectares of rolling pastures listed an hour from Melbourne CBD

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A circa 1910 home in Bolwarra known as The Oak has been taken off the market after failing to sell.
It was listed with a price guide of $1.55 million plus. 
The property at 21 Kensington Road last sold in November 2005 for $1.25 million.
The Bolwarra heritage home was designed by architect John Wilshire Pender but has since been restored, renovated and extended.
Pender specialised in architecture in Maitland and set up his practice in 1863.
During his career, Pender built a number of significant public buildings, cottages and homesteads including St Luke’s Anglican Church and the Presbyterian manse in Tamworth.
Pender is responsible for designing Benhome, a classical revival home on Regent Street, now a popular tourist attraction due to its architectural design. 
Pender also designed the Morpeth School of Arts and the Maitland Cultural Centre.
Three generations of the Pender family have worked as architects, spanning 125 years – the longest surviving architectural firm in the English speaking language.
The four-bedroom, two-bathroom property sits on 2,791 square metres and boasts ornate ceilings and a dome ceiling feature in one of the bedrooms.
The bedrooms each feature French doors, which open onto private verandahs and terraces.
The music room features twin columns and high ceilings.
Marketing began on the property in October 2012 when it was first listed for $1.72 million.
It then dropped its price by $170,000, but still failed to attract a buyer.
Rhonda Nyquist of <a target="_blank" href="https://www.prdhuntervalley.com.au/21-Kensington-Rd-MAITLAND?_id=r14378">PRDnationwide</a> Hunter listed the property.
The median house price in <a target="_blank" href="/news">Bolwarra</a> is $423,500, according to RP Data.
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The Oak in Maitland fails to sell

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Dominique Bergel-Grant of Leapfrog Financial has raised over $2,000 for the Humpty Dumpty Foundation at the 2013 Shares vs Property event.
Held at the Kirribilli Club in Lavender Bay on Wednesday May 15, the event had 70 attendees and two prominent guest speakers.
The speakers included chief executive officer of Raine &amp; Horne Angus Raine and share market and long-term investment commentator Michael Bailey.
Angus Raine shared his insights into the state of the residential market and the need to focus on areas often forgotten about, while Bailey explained the significants and benefits of long-term investments in comparison to cash.
Charity was the winner at the end of the night, with Bergel-Grant concluding the evening saying that both shares and property can make a valuable long term investment.
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Charity the winner at Lavender Bay Shares vs Property event

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.

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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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Nicola Trotman

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