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Global toll road traffic levels may not fully recover to pre-pandemic levels until 1Q23, although the pace of recovery will vary significantly between countries and regions, Fitch Ratings says in its latest quarterly tracker for the sector. 
As China is ahead of the rest of the world by two to three months in terms of the pandemic, Fitch Ratings expects that its traffic profile may initially provide some insight into other countries' recovery profiles. Fitch's expectations for full traffic recovery ranges from 1Q21 to 1Q23 for the US, European, Australian and Latin American toll road networks included in the tracker, although the timing and shape of the recovery are uncertain. 
Traffic recovery is well underway but has stalled recently in some countries where coronavirus infection rates are rising.
Toll road performance remains vulnerable to significant worsening of the pandemic, particularly if there are strict new lockdowns. 
However, future lockdowns may be less stringent, with governments reluctant to impose generalised lockdowns again given the high economic impact.
<a href="https://www.propertyobserver.com.au/images/2020/9/fitch%20toll.png" target="_blank">Click here</a> to enlarge: 
 <img src="https://www.urban.com.au/images/2020/9/fitch%20toll.png" alt="">
Source: Fitch Ratings 
Fitch developed a Coronavirus Rating Case and a Coronavirus Severe Downside Case to assess the potential impact of the pandemic on rated toll roads. 
In both cases Fitch considered issuers' ability and intention to reduce operating costs and tap into balance-sheet flexibility, with capex growth plans deferred and dividends reduced. Rating actions on European and Asia-Pacific toll roads were mostly limited to Outlook revisions under the Coronavirus Rating Case, reflecting resilience, but it is likely that most of these ratings would be downgraded by one or two notches under the Coronavirus Severe Downside Case, as leverage metrics would typically be above the negative rating sensitivity. The ratings of most US network toll roads were affirmed with a Stable Outlook, reflecting the ability to withstand a severe but temporary revenue shock in 2020. 
However, it is likely there would be many downgrades by one or two notches under the Coronavirus Severe Downside Case. 
More than half of rated toll roads in Latin America were downgraded by one or two notches, reflecting their sensitivity to the economic performance of the region they serve. The report "Coronavirus Global Toll Road Traffic Tracker" is available at <a href="http://74n5c4m7.r.eu-west-1.awstrack.me/L0/http:%2F%2Fwww.fitchratings.com%2F/1/01020174961b54d4-7e963bb9-4c91-4b54-a0df-15386acf0df3-000000/pNj51y0Dl1j43au3VvxX3OwRzrw=180" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">www.fitchratings.com</a> or by clicking the link above.
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j.ballantyne1990-6AQqhLzZaK

Global Toll Roads May Not Fully Recover Until 1Q23: Fitch Ratings 

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Australian architecture firm Billard Leece Partnership has announced a new leadership team as part of an executive restructure developed by the board.
The new team will feature 12 principals and 11 associates with Tara Veldman appointed as managing director.
Veldman established BLP’s Sydney office over a decade ago, building the studio to 70 staff with a range of health, schools and tertiary projects.
In her new position, Veldman hopes that she can assist BLP on shaping the future of Australian social infrastructure.
“We design for a healthy world. We are focused on re-envisaging hospitals, health hubs, education precincts, high tech research labs, residential communities and continuing to pioneer new ways of working”, she said.
BLP has been operating for 25 years, now with a 130-strong team with offices in Melbourne and Sydney.
The company’s board sees Ron Billard, Mark Mitchell and Adam Muggleton joining Veldman, with non-executive directors, Tim Shannon and David Tregoning.
The leading architecture firm has delivered many award-winning projects, including the Royal Children’s Hospital in Melbourne, the University of Sydney Health Precinct and the Hong Kong’s Children’s Hospital.
Their projects are now valued up to $2 billion and is currently engaged in the planning of the Children’s Hospital Westmead and the Sydney Children’s Hospital Randwick projects.
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Billard Leece Partnership announces new leadership team

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Ray White Commercial Queensland settled around $8.5 million of property deals in the Banyo and Northgate precinct alone in July, over two transactions.    The first transaction at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=Zlc4M0lHejNQTjdwL2dwcFRNcXQ3bkc5ZXBkcFAxV1hkazdXWjhZdnlhTkl2R2hyd2drTTZURldCaWdUNVZzRnJIelJWMEsxUzcrRWZydlZXNGFpWGlPSmlZaG5Sb2JkcHJaYjJFQWIyQlFJdXc2UFZpK3pmOEtqYXR4VHdvRnBGYTZWM095ZFdSRjlGUnB6WGFVQ01tcm1NQlFzRmdoQ3Z6eWg3MDUwN3hGQUtKY2hKTURLc21QNDNRYnJrSFM5&amp;rh=ff00685a69c68ddc0d8fcc52934089b2a5fcb7d1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Lot 2/71 Raubers Road</a> (above) in Northgate traded for an undisclosed amount, but industry sources revealed the price was in the mid three-million-dollar range.    The offering was a semi-modern industrial facility of 2,294sqm.
The site was purchased by a local owner occupier whose business was going exceptionally well in current market conditions.    The second transaction at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=Zlc4M0lHejNQTjdwL2dwcFRNcXQ3bkc5ZXBkcFAxV1hkazdXWjhZdnlhTkl2R2hyd2drTTZURldCaWdUNVZzRnJIelJWMEsxUzcrRWZydlZXNGFpWGlPSmlZaG5Sb2JkcHJaYjJFQWIyQlFJdXc2UFZpK3pmOEtqYXR4VHdvRnBtRGdSRkZYaDErUklUM2ZkR05yOUlORW1KWHpQTEVja01hRVRESnJYNWdqWXNHdGN6eDZtVTVHYzNTZ3RNdXFn&amp;rh=ff00685a69c68ddc0d8fcc52934089b2a5fcb7d1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Lot 6/459 Tufnell Road</a> (below) in Banyo settled for $5,300,000. 
The property was sold via a sale and lease-back process.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/21/Lot%206%20459%20Tufnell%20Road%20Banyo%20-%20%2011%20v2.jpg" alt="">
Moto National Accessories committed to a five plus five-year term, at a commencing rental of $328,125. 
The price achieved equated to an initial yield of 6.19 per cent, or $2,309 per sqm on GFA.   “We’re not surprised by the interest in the Banyo and Northgate precinct. Trains, planes and automobiles drive industrial transactions, and this pocket ticks all those boxes,” said Ray White Commercial Queensland Manager Andrew Doyle.   “Further to the sales we’ve settled, we’ve observed another $22,000,000 in transactions through the Northgate and Banyo precinct since COVID-19. This definitely highlights the comfort level buyers have in this area,” said Ray White Commercial Queensland Manager Aaron Aleckson.   “In a market like the current one, it’s important as an agent to get a sense of what buyers want,” said Ray White Commercial Queensland Director – Brokerage services Paul Anderson.
“We clearly have that read now, and we’re very pleased to be offering a new opportunity in the Banyo and Northgate precinct – which is a brand-new industrial asset leased to Domayne”.    Ray White Commercial Queensland is offering <a href="https://ecomms.raywhite.com/collect/click.aspx?u=Zlc4M0lHejNQTjdwL2dwcFRNcXQ3bkc5ZXBkcFAxV1hkazdXWjhZdnlhTkl2R2hyd2drTTZURldCaWdUNVZzRnJIelJWMEsxUzcrRWZydlZXNGFpWGlPSmlZaG5Sb2JkQUdvcXBWT3p0aThVa3RCVWZNbUZzQ3ltb29GRnZRVGtFQzRteU5tbm01UDhoQUY1ODdIdWgrM0ZxUjUwL1N5UnpncXY1bVQ3bUxnODNaNE9rK2Z3WkkyQUZPSWJnbVZXU0dzUWdwQTlFaE09&amp;rh=ff00685a69c68ddc0d8fcc52934089b2a5fcb7d1" target="_blank" data-auth="NotApplicable">Lots 16 and 17/62 Crockford Street</a> (above) in Northgate for sale via auction on October 16.   The property is a brand-new facility of 2,358sqm on a 4,000sqm allotment.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/21/LOTS%2016%20NORTHGATE.jpg" alt="">
It has been leased to Domayne at an annual rental of $330,000 per annum net, with a primary lease term expiry of April 2027.   
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Banyo and Northgate, Queensland see $8.5 million of property deals

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Woodlea has revealed plans for an innovative aged care and retirement precinct within its growing estate.
Located in Melbourne’s western growth corridor and currently home to 7,000 residents, Woodlea sought to redefine residential living from the outset by creating and raising the bar for a new suburb where families can live a better life. 
The area earmarked for the aged care and retirement precinct is co-located within the new $45 million Woodlea Town Centre development.
It has the potential for over 100 Independent Living Units, Retirement Living Apartments and an Aged Care Facility.
Victoria Investments &amp; Properties (VIP) and ASX listed Mirvac, in collaboration with Knight Frank, is seeking an independent project partner to bring this opportunity to life.
Woodlea Project Director Matthew Dean said this offering would effectively close the loop on ensuring every age and demographic is catered for within the Woodlea community.
“There are aged care and retirement units within the surrounding area but there is nothing of this size or calibre that integrates different living options within the same precinct.
“Woodlea is unlike any other master-planned community due to its sheer size and offering and as it continues to flourish and more amenities are delivered, we are continually looking for ways to innovate to ensure it is responding to the needs of its residents and the surrounding communities,” he said.
Spanning 711 hectares, Woodlea is fast becoming a major asset for the west, comprising prestigious schools, destination style playgrounds, parks and sporting facilities and will be home to a large-scale Town Centre with a 3500sqm Coles.
Upon completion, the master-planned estate is forecast to be home to over 20,000 residents.
It will see over 30 per cent of the estate dedicated to open space - including native woodlands and wetlands and pocket parks. 
In addition, two childcare centres, two public schools and Bacchus Marsh Grammar Primary School, as well as an abundance of sport and recreation facilities will be available.
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Woodlea reveals aged care and retirement precinct

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A long-waited development site in the centre of Maryborough has hit the market via expressions of interest.    The substantial 6.8ha land area with dual street frontage is centrally located at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=WDlEeE43WHk4cDU3VXV3SEx6K1g3a0FGK28vMDZVUHBNTmdGelRVTnpGTkhrYzNZMlp2R3gzbm5MZW1BWXhEUmpqQlJQODk3NmE0RVBLQ1J6c2NxUThUM1BUZlV2S3lteXQ1d3ZYN0NZT3VJY2NZYklENWJuNVVmR09hR1hITmo3VVRBZDFMU0l6UCtON3VZenFBdVJmbGY2eE9aRlQxbHhuZ0Z3S0FEWjRlMmI1eVVGb1c3M1NONndFL3JqdVdq&amp;rh=ff006881b6ec913c13708079ee4bb2af5d5ee0de" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Lot 183, Neptune Street</a>.
It benefits from being level with all essential infrastructure directly adjacent.   The property is being marketed by Ray White Special Projects Qld Directors Mark Creevey and Tony Williams, along with Ray White Maryborough Principal Guy Meredith. “The site is designated Community Facilities and Community Hub zone and the existing building is approved for a Community Care Facility,” Mr Creevey said.   “Land parcels of this size with any sort of approval already in place are highly sought-after throughout Queensland and we’re anticipating a lot of interest in this one.”   “A real gem of this site is the potential for alternate residential development (STCA) along with concept plans for major health-based mixed-use development,” Mr Williams said. The property is just 500m to Maryborough Hospital and is opposite PresCare Yaralla Aged Care Facility and is in close proximity to a vast array of facilities and amenities.”   “The parcel of land is minutes from the CBD in a well-regarded part of town and holds enormous potential for both mixed use and/or residential development (STCA),” Mr Meredith said. “Maryborough is just three hours north of Brisbane with a strong manufacturing hub and is the gateway to The Great Sandy Straits and Fraser Island.” 
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Maryborough development site hits the market 

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Global law firm Norton Rose Fulbright has advised Qube Holdings Limited, Australia’s largest integrated provider of import and export logistics, on the sale of its Minto industrial site to Charter Hall. 
The sale of the 30.6-hectare Minto site was first announced in July 2020 and, with approval from the Foreign Investment Review Board, settled on 15 September for around $207 million, reflecting an initial yield of 4.76 per cent. 
The site is located close to the South Sydney Freight Line, the M5, M7 and Hume Highway in NSW.
It will now form part of Charter Hall’s expanded industrial and logistics property portfolio, the $5.2 billion Prime Industrial Fund.
The site is fully leased to four automotive logistics tenants and is currently used for car import, storage and distribution, and has the potential to be developed as an intermodal rail terminal. 
Real estate partner Deanne Ogilvie acted on all aspects of the sale, including undertaking vendor due diligence, preparing and negotiating the contracts, and attending to exchange and settlement of the sale. 
“We have been acting for Qube for more than a decade and in regards to the Minto site for more than six years and are pleased to have assisted Qube on this sale.
"The site is a strategic property asset – well located, fully leased and with the potential to be developed as an intermodal rail terminal – and is a key addition to Charter Hall’s growing portfolio," Deanne said.  
In addition to the Minto site, Qube Holdings Limited is assessing funding and ownership options for one its most significant real estate sites, the Moorebank Logistics Park. 
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Minto industrial estate of Qube Holdings Limited sold for $207 million

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Premium investment properties remain highly sought after by private, high-net-worth investors, according to Colliers International.
Paul McGlynn and Harry Bui of Colliers have sold McDonald’s Bella Vista (pictured above) to a private Asian investor from Melbourne for $6.65 million on a net yield of 3.1%. 
The acquisition was for a 2,885sqm long-term ground lease. 
McDonalds Australia constructed a brand-new single level restaurant with dine-in and drive-thru take-away facility, open to the public since May 2019.
Mr McGlynn and Mr Bui will be also taking the adjoining Shell Service Centre Bella Vista (pictured below) to the market for sale by international expressions of interest.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/21/Norwest_060820_36%20Large.jpg" alt="">
Both properties are located in a gateway position at the entrance of Norwest Business Park within the north-west growth corridor in Sydney’s Hills District.  
On a 2,813sqm site, this new Shell service station with an annexed café is anticipated to receive high levels of interest from both local and international investors.
The opportunity benefits from its premium location in Norwest Business Park, long WALE profile of 10 years by income, strong annual rental escalation, and head lease to Viva Energy Australia with a fully leased net passing income of around $604,544 per annum. 
“Premium investment properties with long leases such as a freestanding petrol station leased to Viva Energy, 7-Eleven, Caltex, BP or freestanding fast food sites like McDonald’s are currently very sought-after,” said Harry Bui, National Director, Investment Services at Colliers International. 
“Private high net worth investors are the most common buyer profile within the sub-$20million investment market, while both property syndicates and consortiums showed increased interest towards premium investment assets with longer WALE’s and company leases to national blue-chip corporate tenants.” 
There have been several significant national portfolio sales for premium investments in the past year.
This includes; 33 7-Eleven petrol stations, which sold for $156 million in October 2019 and February 2020 with an average yield of 4.76% and; 25 Caltex petrol stations sold for $133 million in November 2019 with strong underlying land values for future development.  
Charter Hall also took a 49% stake in a portfolio of 225 BP petrol stations in Australia, worth $1.7 billion with a weighted average lease expiry (WALE) of 20 years which was the biggest deal of 2019. 
Paul McGlynn, National Director, Industrial at Colliers International said that the Norwest area where both properties are located will benefit from major State and Federal Government projects.
“Norwest is in the suburb of Bella Vista which is surrounded by major State and Federal Government infrastructure projects, specifically the North-West Metro which opened in May 2019, North-Connex due to open next month, the re-development of Parramatta CBD (11 kilometres South) and establishment of the new second Western Sydney Airport (43 kilometres West).”
“These infrastructure projects coupled with substantial increases in new residential dwellings and population growth locally will rejuvenate and promote Western Sydney, helping the area to become a major economic powerhouse.”
Colliers International will also be bringing a brand-new, flagship BP in Tighes Hill, Newcastle to market. 
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Two Norwest properties in Sydney indicate premium investments remain sought after

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MaxCap Group has closed funding for ‘Ivanhoe Gardens’, a large scale residential project with an end value of $140 million in Ivanhoe Melbourne to be developed by Blue Earth Group (BEG).
MaxCap Group is a Australia and New Zealand’s commercial real estate lender and investment manager.
The MaxCap Funding Facility is for the construction of stage one of the master plan development and it will cover two buildings in the project, to be known as ‘Bloomsbury’ and ‘Everleigh’ comprising of 235 apartments.
The project is well located in the leafy north eastern suburb of Ivanhoe and residents will have direct access to public transport, with a metro train station and bus stops along Bell Street. 
Residential amenities at ‘Ivanhoe Gardens’ will include a wine cellar, cinema, on-site ‘click &amp; collect’, fitness centre, indoor squash court, sauna, game room, golf simulator and co-working space.
Brae Sokolski, Founder MaxCap Group said “MaxCap has a long proud history of funding Australia’s leading private developers. This transaction represents the 14th project we have partnered together with Blue Earth Group.”
Carlton-based Blue Earth Group was founded by Michael and Omran Dib and commenced operations in 1993.
The Group has since grown to become one of Melbourne’s most highly regarded and active developers, with over 2000 apartments in the current pipeline.
“We develop apartments that revolve around people,” said Mr Michael Dib.
“These are beautiful vibrant spaces that draw inspiration from the 21st century lifestyle."
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MaxCap funds Blue Earth Group’s Ivanhoe residential development project

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The Local Business Awards have named Marites Idea Novis as Blacktown’s business person of the year.
Novis’ business, Qfirst Property Investment Group, has also been named this year’s outstanding real estate agency.
The Sydney-based entrepreneur founded Qfirst in 2017.
“It is hard to put this feeling into words. Nevertheless, I am very honoured to receive these two awards as recognition of my hard work and that of the entire Qfirst Property Investment Group team,” she said.
Qfirst is geared specifically toward first-home buyers and investors, specialising in marketing pre-developed projects as well as finished properties.
“I established Qfirst Property Investment Group with the sole purpose of guiding and advising first-home buyers and investors on everything they need to know to reach their financial goals through property investment”, Novis said.
In one year, Qfirst has sold more than $75 million worth of properties.
This isn’t the first of Novis’ business endeavours, however. At the age of 29, she founded a family-owned Philippines-based company Quezon First Engineering Services.
The businesswoman also hosts seminars specifically aimed at helping first-home buyers and investors to better understand the ins and outs of the property market.
She describes the Qfirst Property Investment Group as the “new frontier” of the reale state industry.
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Qfirst Property Investment Group named outstanding real estate agency

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A waterfront home with harbour views in Sydney's Lower North Shore has been sold for $6 million. 
The five bedroom, three bathroom residence is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-linley+point-134077690" target="_blank">18 Brooks Street, Linley Point</a>. 
It offers gourmet island kitchen, enteriners' balconies, rumpus room, home cinema, wine cellar and two car space. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/linley%20pt%202.jpg" alt="">
The home also features swimming pool, wet bar, gym, gas fireplace and water views. 
Nestled on a 749sqm block, the home is set in a cup-de-sac with private access to the waterfront. 
Tracey Dixon and Brent Courtney of McGrath Hunters Hill sold the property.
It was last sold in 2016 for $4.366 million. 
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Linley Point waterfront home with harbour views sold 

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

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One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

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

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Staff reporter

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