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Proposed changes to negative gearing would drive up rental prices and hurt Australian renters, REIV president Geoff White said on Wednesday, joining the industry debate over the impact of the move if implemented.
Commenting on an announcement by the Federal ALP in recent days, White said a policy proposal by the Federal Opposition to limit negative gearing to newly constructed houses had not been fully considered.
He said it would be a “double hit” as fewer investment properties became available – driving up rental prices – and a crisis of affordable rental properties would quickly become apparent. Further to this, the government would need to fill the void by providing state-subsidised and built housing.
“The proposal lacks insight, in that it will not only affect the property sector but renters nationally,” said White.
“Already we are seeing a relatively low vacancy rate – that is, the level of available rental housing – at around two per cent in some areas of Melbourne, particularly areas further from the CBD, where families are looking for a rental property they can afford.
“If investors withdrew from the established home market in this vital property belt, it would cause a significant shortage in rental supply and impact heavily on the government of the day.
“More importantly, it will ‘hit’ those who most need help in the housing market.”
He added that Melbourne has experienced a significant population boom in recent years, and available housing is critical to fuel the state’s economy.
“With more than 100,000 new residents moving to the state in the past 12 months – and interstate migration at its highest in 40 years – an ongoing, high level of available housing is essential to meet this demand.”
He added that with about half a million rental properties statewide, much is at stake in tinkering with negative gearing. 
“A small percentage shift in the number of available rental properties in the state would, quite clearly, impact and undermine the lives of tens of thousands of Victorians,” he said.
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Negative gearing changes will hit those who need help: REIV

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Mortgage Choice Limited reported a profit growth of 12.4 percent for the six months ending December 31, boosted by a record $6 billion in mortgage settlements during the period.
The mortgage broker’s shares ended up 7.3 percent on the ASX on Wednesday.
The company said its loan book also crossed the $50 billion milestone and hit $50.7 billion, up 4.7% from 1H15.
“We have recorded our strongest ever interim profit result, which is a testament to the Mortgage Choice business as a whole, as well as the strength of our plans and our ability to execute those plans,” Mortgage Choice chief executive officer John Flavell said in a media release.
The mortgage broker’s net profit after tax on a cash basis was $10.1 million, up 12.4% from in 1H15. Group revenue grew to $102.3 million, up 5.4% on 1H15.
It settled home loans worth $6.2 billion in 1H16, an 8.5% increase from 1H15 and its highest ever.
The company also announced a fully franked interim dividend of 8 cents per share, up from 7.5 cents in 1H15.
“Our strong profit growth of 12.4% has come from significantly growing our revenue and controlling our operating expenses whilst continuing to invest for future growth. Since addressing Help Me Choose, we have been able to dedicate more resources to those parts of the business that align with our 2020 strategy,” Flavell said.
“We have seen a significant increase in both the number of referrals going to our financial advisers as well as the number of brokers referring business.”
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Mortgage Choice posts 12% rise in net profit on record home loan settlements

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The REIV is expecting about 1,020 auctions in 259 suburbs this week across Melbourne. The top auction locations this week are in Richmond with 22 auctions, followed by Bentleigh East, Bentleigh and Brighton with 14 auctions in each.
This week will see the first Super Saturday auction weekend since mid-December 2015, with more than 1,000 auctions scheduled.
<table border="0" cellspacing="1" cellpadding="1"><tbody>
<tr>
<td>
Last weekend
</td>
<td>
539 auctions (exc. 10 postponed and 18 withdrawn)
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</tr>
<tr>
<td>
This weekend
</td>
<td>
1,020 auctions
</td>
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<td>
This weekend last year   
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75% from 973 auctions
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More than 1,000 auctions expected for week ending Feb 21: REIV

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Dexus Property Group reported a more than 200 percent rise in its statutory net profit after tax for the six-months ending December 2015, helped mainly by gains from revaluation of investment properties. 
The company, which invests in office and industrial properties, reported a 25.3% increase in its Funds From Operations to $323.9 million, or 33.4 cents per security, reflecting a 17.1% increase. It guided for 5.5-6.0% growth in FFO per security for the financial year ending June 30, 2016.
Chief executive Darren Steinberg said he expected interest rates to remain low for a longer period which would help businesses and consequently, leasing.
“Office market fundamentals, particularly in Sydney, are expected to continue to improve as Australian corporates invest for growth. Investment demand should also retain its strength as investors seek the defensive nature of property,” he said.
The company’s statutory net profit after tax was $797.5 million, a rise of 209.3% on the previous corresponding period, primarily due to $533.7 million of net revaluation gains on investment properties. 
“Revaluation gains across our property portfolio drove the majority of the increase in statutory net profit and NTA per security, as recent comparable market transactions drove cap rate compression at properties with strong tenant covenants,” Steinberg said.
Net tangible assets (NTA) per security was $7.25, up 57 cents from 30 June 2015.
Dexus has also entered into a binding agreement with the management of Investa Office Fund (IOF) under which it will seek to buy all of the units in IOF, subject to the approval of IOF Unitholders. Dexus said it views the acquisition as accretive to underlying FFO per security.
The deal already has won approval from competition watchdog ACCC.
The group achieved 245 leasing deals across 242,596 square metres and said it had completed developments at 5 Martin Place, Sydney and Kings Square, Perth, with 480 Queen Street, Brisbane nearing completion. 
Dexus said it was in talks with the NSW government for the sale of 39 Martin Place, Sydneyfor the new metro rail project.
It said as part of its strategy to divest from non-core properties, Dexus sold off 36 George Street, Burwoodfor $95 million for a 32% IRR on investment.
It also plans to develop a 41,163 square metre office tower at 90 and 100 Mount Street, North Sydney. 
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Dexus reports more than 200% rise in net profit on gains from investment properties

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Villa World, Queensland’s oldest ASX-listed housing developer, said its half-year net profit after tax rose 57%, helped by a strong performance in Queensland and growth in Victoria sales.
Villa World shares were trading up more than 3 percent on the ASX after the earnings announcement.
Chief executive Craig Treasure attributed the result to consistency and “getting our business fundamentals right”.
Villa World posted a half-year profit after tax of $20.4 million, or 18.5 cents per share (cps). Revenue grew 49% to $200.2 million.
It announced a half-year dividend of 8.0 cps fully franked. The company is targeting a total dividend of at least 18 cps in FY16, representing a 9% yield.
Treasure Villa World’s 14 Queensland projects contributed 80% of sales during the half-year and 86% of revenue. Growth in its Victorian operation has added geographic diversity to Villa World’s product offering, said Treasure.
He added that Villa World was set to return to the New South Wales market through partnering and joint ventures.
“A strong performance from our delivery team has meant that we have been converting sales to settlements, enabling us to deliver a very strong first half,” said chief financial officer Paulene Henderson.
The company settled 550 contracts in the half-year, up from 329 in the comparative half year (1H15).
With seven new residential projects contributing to sales in 2016, and pre-sales of $107.7 million, Villa World said it was on track to meet its target of between 1,000 and 1,200 sales in FY16 and deliver a full-year net profit before tax of $46.6 million (FY15: $29.4 million).
Villa World has made a series of acquisitions in the recent past to maintain its product pipeline.
In December it acquired a 254-hectare site in Strathpine, 19 km north of Brisbane CBD. The company also made strategic acquisitions in Logan and at Arundel, and entered into a joint venture with Ausin Group at Rochedale, on Brisbane’s south side.
Settlement of Eynesbury estate late in the half year contributed $3.6 million to the company’s half-year profit, it said.
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Developer Villa World posts 57% rise in profit and signals return to NSW

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Heritage Bank, the more than 135-year-old customer owned lender, said on Wednesday profit and loan volumes showed solid growth in the first half of the 2015/16 financial year.
Pre-tax profit for the six months to December 2015 was $25.326 million, up 9.3% on the corresponding period the previous year. Profit after tax was $17.184 million, an increase of 9.8%. 
Loan approvals grew 2.2 percent to $810.50 million for the six-month period. Retail deposits grew by $111 million, up 60% on the $69 million in the same period the previous year. 
“Heritage has a great story to tell, and we are determined to make that story better known right around Australia,” CEO Peter Lock said in the earnings announcement.
“Customers have more money in their pockets when they bank with us, instead of the big four, as shown in independent research by CANSTAR. They also get to enjoy the personal service and community-minded approach that’s part of our culture.” 
But though the total loan book grew by $21 million to $6.822 billion, the bank’s total consolidated assets fell 2.6% to $8.332 billion in the reporting period.
Capital position improved, with the bank lifting its Tier 1 capital ratio to 12.40% from 11.76% in the six months. The total capital adequacy ratio also increased to 14.04% from 13.37%. 
The liquidity ratio decreased from 19.39% to 16.77% in the same period.
Heritage chairman Kerry Betros said the results reflected the need to balance tougher prudential requirements against the need for increased funding to support lending growth. 
“We have moderated our previous high levels of liquidity to more normal levels as our lending volumes have grown,” he said. 
Mortgage loan arrears greater than 30 days sat at 0.37% of the total mortgage portfolio balance as of December-end, around a third of the industry average, the announcement said.  
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Heritage Bank half-year loan volumes grow, profit up 9.3%

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Land use zoning is a tool used by local governments to define the types of land use permitted or prohibited in each zone.
Simply put, zoning is a framework to decide what can and what cannot be built in specific areas.
Zoning differs from state to state in Australia, but land under the control of the Commonwealth (federal) government is not subject to state planning controls.
Although zoning differs from state to state, zones are generally classified into these broad categories: Residential, Commercial, Industrial, Agricultural and Mixed-Use. Within these are sub-categories, with zones typically identified by a colour on a map.
When considering investing in commercial property, it pays to check with the local council about the zoning of the land to avoid running afoul of the law and nasty surprises later.
Listed below is the zoning for states and the ACT.
Australian Capital Territory
The ACT has commercial zones from CZ1 through to CZ6, with CZ5 for mixed-use, while CZ6 is a leisure and accommodation zone.
New South Wales
NSW has a Standard Instrument Local Environment Plan in place with that covers residential, commercial and mixed use among others. Listed is the zoning for commercial: 
B1 Neighbourhood Centre
B2 Local Centre
B3 Commercial Core
B4 Mixed Use
B5 Business Development
B6 Enterprise Corridor
B7 Business Park
B8 Metropolitan Centre
Northern Territory
The NT has a long list of codes, with commercial zones divided into the following:
CB Central Business
C Commercial
SC Service Commercial
TC Tourist Commercial
The residential goes from single dwelling to high density.
Queensland
The Queensland Planning Provisions (QPP) document provides a format and structure for local governments to prepare their planning schemes while allowing the flexibility to address each local government's circumstances. Zoning is controlled by individual councils and differ from council to council across the state.
South Australia
In SA, zoning differs from council to council across the state.
Tasmania
Tasmania has 23 different zones, and all its 29 councils each have a planning scheme within the guidelines of the Tasmania Planning Commission , with the exception of the Hobart City Council which has two.
Victoria
All land in Victoria has a zone, specifying particular purposes for land, such as residential growth, low density residential or commercial 1. The framework is managed by the Victoria Department of Transport, Planning and Local Infrastructure.
Western Australia
Local councils in Western Australia set their own planning schemes, which are controlled by the Western Australian Planning Commission.
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Property 101: Get in the zone on commercial property 

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A Main Street office location in the seaside town of Mornington near Melbourne has sold for $445,000.
The two offices plus reception at <a href="https://www.realcommercial.com.au/property-offices-vic-mornington-501788350" target="_blank">3&amp;4, 216 Main Street</a> occupy about 80 square metre. Additionally, there’s a kitchen and toilet.
The property is on a two-year lease starting in November 2014 with an extension of two more years.
The property fetches a rent of $19,200 per annum, implying a yield of about 4 percent.
The sale was through Michelle Adams of Jacobs &amp; Lowe.
The property last traded in 2011 when it sold for $203,584.
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Office space in Victoria's Mornington fetches a cool $445,000

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A modern single-level former licensed bowls club/sports club in Queensland’s Highfields is up for sale with expected offers in excess of $750,000 plus GST.
The <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-highfields-501833050" target="_blank">55 Highfields Road</a> site is a 3,988-square metre holding with 590 square metre premises.
It comprises a bar, open plan dining/function room, bistro with commercial kitchen including two cold rooms, gaming area, two offices and other amenities.
Highfields has been earmarked as the fastest growing area in Queensland.
External areas include parking for 29 cars, garage/storage shed, landscaping and a synthetic bowling green. 
The property presents opportunities for various alternative commercial purposes such as for church or community use, medical centre, childcare centre, or retaining its sport/recreation facility according to Dan Dwan of Colliers International.
The commercial opportunity last traded in 2011 for $770,000. 
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Bowling club green in Queensland’s Highfields on the market

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A corner building in Melbourne’s Fitzroy with potentially a multitude of uses including retail, office or gallery is on the market for $895,000.
The <a href="https://www.commercialrealestate.com.au/property/218-johnston-street-fitzroy-vic-3065-2012372391" target="_blank">218 Johnston Street</a> building has a floor area of 140 sqm.
The property features polished floorboards, allows plenty of natural light, has a kitchen and multiple bathrooms and basement car parking. The building has Commercial 1 zoning.
Located between Brunswick Street and Smith Street, it is near to the CBD and close to transport.
The facade and the building could suit retail, office, gallery and/or residential uses.
The property is being marketed by Bradley Ellul and Ian Angelico of CVA Property Consultants.
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Contemporary multipurpose corner building in Melbourne’s Fitzroy up for sale

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Prateek Chatterjee

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