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A renovated Queenslander in Kalinga, Queensland has hit the market with $2.1 million hopes. 
Surrounded by the leafy streets, the five bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-kalinga-134360750" target="_blank">148 Kent Road</a>.
It offers three main living areas, study, large kitchen, alfresco entertainment area and swimming pool. 
<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/2020/9/14/kalinga%202.jpg" alt="">
Nestled on a large 810sqm block, the 1900s home also features polished timber floors, pressed metal ceilings and space for four cars. 
<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/2020/9/14/kalinga%203.jpg" alt="">
Located only 8km from the Brisbane CBD, it is close to major shopping precincts, trial station and Brisbane Airport. 
Tyson Clarke of Queensland Sotheby's International Realty - Brisbane has the listing. 
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j.ballantyne1990-6AQqhLzZaK

Kalinga renovated Queenslander hits the market

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A Brisbane based passive investor has purchased a former Church site in Maroochydore from long-time local owners for $1.85 million. 
The initial yield achieved was approximately 6% on estimated net income.
Located at 22-26 Beach Road, the 1,551sqm site offers approximately 470sqm of lettable area.
It is positioned on the corner of Beach Road and Duporth Avenue, directly opposite Mosaic’s new six-star 86 apartment residential project ‘Avalon’. 
The property is occupied by long term tenants Coast Life Midwifery who recently signed new 5-year leases over the church and former hall building, a further lease was in place to popular Beach Road Coffee Co. 
The deal was negotiated by Jason O’Meara of Savills Australia.
“This is a strategic parcel of land with excellent exposure and sound holding income until further development options present in the mid to longer term,” O’Meara said. 
The immediate precinct has undergone recent ‘urban renewal’ with the newly completed ‘Rhythm on Beach’ development next door now also branded ‘Direct Hotels’ and Mosaic’s boutique development under construction on riverside plus the commercial building Eight Maroochydore Road with roof top bar completed in 2019. 
"There is a lot of activity and energy in Maroochydore at present with several cranes in the air which is a great sign", O'Meara said.
“As a result of the State Government having designated Maroochydore as the Sunshine Coast’s Principal Activity Centre, Maroochydore will be the main focus of development for the next 10-15 years as significant projects unfold in the area”, he said. 
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Former Church site sells in Maroochydore for $1.85 million 

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COVID in the Clarence Valley is not having much impact as auctions, borders have been opened up allowing people to travel to the Valley more easily, according to the August Herron Todd White (HTW) residential report. 
The valuation firm presented an 'investor playbook' of real estate performance within each service area this month. 
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The report suggests investors see the Clarence Valley as a safe haven from a downturn in the market due to broader economic conditions. 
"Cashed up buyers are spending above $1 million on canal or Yamba Hill properties to be used as holiday homes or as longer term rentals.
"Investors also are seeking rural residential properties to get out of the city life due to the Coronavirus impact in the cities restricting movement of people," the valuation firm said. 
Investors are mainly from the Gold Coast/ Brisbane and Sydney areas.
The Valley is typically cheaper than Ballina to the north and Coffs Harbour to the south. The Clarence also is benefitting from Government spending on a M1 Motorway upgrade and a new large Jail in the region, the report noted. 
 In Grafton, rental return net is expected to be around five per cent although in Yamba on the coast capital gain recently has been and strong 6.1 per cent per annum (realestate. com). Agents are reporting a lack of stock and good buyer enquiry.
"In the future the Clarence Valley will benefit from the M1 Motorway joining Ballina to Coffs Harbour reducing travel time also to the Gold Coast and Brisbane to two hours approximately and the new Jail creating jobs.
"However, the risk is the broader economy in Australia and the world with a rise of these threats," the valuation firm said. 
First home buyers are able to apply for discounted mortgage rates, stamp duty rebates, and renovation/construction incentives which may help fuel this part of the market in the near future.
A three bedroom house on a 2,203sqm block in Grafton has recently been sold for $420,000.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-grafton-134050634" target="_blank">39 Breimba Street </a>home (pictured below) comes with three bedrooms, separate lounge, large kitchen and enclosed veranda. 
The property was last sold in 2017 for $315,000.
<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/2020/9/14/grafton%201.jpg" alt="">
A current listing is a South Grafton cottage priced at $279,000.
The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/property-house-nsw-south+grafton-134164010" target="_blank">9 Gillett Street</a> (pictured below). 
Set on a 555sqm block, the house features open plan kitchen/living area, timber back deck, swimming pool and lock up garage. 
A rental return of $350 - $360 is estimated for this property in the current rental market, according to Elders Grafton property management team. 
<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/2020/9/14/s%20grafton.jpg" alt="">
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Clarence Valley - a safe haven from a downturn in the market: HTW residential 

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Restaurant &amp; Catering Australia welcomed Victorian Premier Daniel Andrews’ announcement that regional Victoria will be able to move to step 3 of the roadmap.
From 11.59PM on Wednesday, September 16, hospitality businesses in regional Victoria were able to serve patrons outdoors, with a cap of 50 seated patrons per venue.
An updated ‘two square metre’ density limit will be put into place.
Under the new guidelines, venues can open with a cap of 10 seated customers per space – with up to two spaces per venue – and in line with the existing ‘four square metre’ density rule.
The announcement was welcome news for regional Victorian businesses, according to R&amp;CA CEO Wes Lambert.
“This is undoubtedly welcome news to the thousands of regional Victorian hospitality businesses who have been under strict lockdowns despite the fact that case numbers have been virtually at zero”, he said.
However, Lambert noted that more is needed to help businesses across Greater Melbourne, who will be subject to strict lockdowns until at least the end of November.
“R&amp;CA will continue to lobby the Andrews Government and the DHHS for indoor dining to be allowed under step 3 rather than outdoor only,” he said.
The industry association believes that allowing limited indoor dining earlier, as has been done for regional Victoria, will save thousands of businesses and jobs across Melbourne. 
R&amp;CA presents the interests of over 45,000 restaurants, cafes and catering businesses in Australia, with the aim of ensuring owners and operators within the hospitality industry remain profitable and sustainable. 
“While support for our sector is welcome, there is only one way to truly support our sector – and that is to get us open sooner”, Lambert said.  
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The hospitality industry welcomes regional Victoria's reopening

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An Adelaide trophy home has been listed with a price tag of $2.05 million.
Situated at 365 Angas Street, the three-bedroom, three-bathroom residence was designed by architect Angelo Ali.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-17%20at%2011.46.14%20am.png" alt="">
Offering privacy, the property is set behind a 2.4 metre wall and secure pedestrian iron gate.
Its features include a courtyard, water feature and expansive open-plan living.
"Oozing in quality throughout, it is obvious that no expense has been spared to provide luxurious living, with huge rooms &amp; a practical floorplan," the home's marketing said.
The master bedroom is an impressive ‘ballroom size’, opening out to a terrace through classic French doors.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-17%20at%2011.46.07%20am.png" alt="">
It includes an en-suite, home office and a concealed bar fridge.
The home, which is marketed by Ouwens Casserly’s Cynthia Sajkunovic, is less than 1.5 kilometres from Adelaide Central Market.
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Adelaide trophy home enters the market at $2.05 million

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Industrial and logistics assets are now firmly at the heart of core investment strategies and, according to Savills, have accounted for a record 20% of the total investment volume into real estate in the first half of this year.
For the first time last year, volumes of investment into the global logistics sector overtook transactional activity into the retail sector, and industrial yields are now on a par with the retail and office sectors.
“The current global ecommerce boom, accelerated by consumers shifting their purchasing online throughout the pandemic, has been a major catalyst for this sector’s growth,” says Paul Tostevin, Director, Savills World Research.
Forecasts from the Centre of Retail Research predict that online sales will grow by 31% in Western Europe in 2020. This will push the average ecommerce penetration rate from 12% to 16%. In the US, the same figure is expected to reach 14.5%, an all-time high, according to eMarketer. Both markets however have some way to go until they reach China’s ecommerce penetration levels, which stand at 27%, and illustrates the growth potential to come.
“Ecommerce isn’t necessarily the sole factor boosting demand,” adds Paul Tostevin. “Recent supply chain disruption, coupled with escalating trade wars is leading to supply chain diversification, boosting demand for industrial and logistics space in strategic locations closer to the major consumer markets.”
As investor competition for logistics and industrial assets intensifies, prices have risen and yields have compressed. Savills research states that, between 2007 and 2017, global industrial yields averaged 7.5%, 70 basis points (bps) above average office yields. Yet, in the second quarter of 2020 industrial yields had moved in to 6.1%, just 10 bps above global office yields.
Kevin Mofid, Director of Savills Industrial and Logistic Research says, “As the sector has matured, there has been a shift in investor composition towards institutional capital and portfolio deals have accounted for a larger slice of the market, attracting price premiums. Former developer traders now see the income opportunity and have become developer holders. The major funds and REITS are attracted to the sector’s long term income streams and there’s a growing scarcity value as stock is being held for longer.”
Savills observes that the market in China remains extremely resilient, logistics volumes in the first half of 2020 stood at for 80% of 2019’s total. India, meanwhile, is emerging as an alternative manufacturing destination to China, helped by low labour costs, trade openness and a business friendly government. This is fuelling significant investment in the country’s industrial and logistics sector.
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Global investment into industrial and logistics sector up sixfold: Savills

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Construction sites across NSW will be subject to a new scaffolding safety blitz after a recent round of inspections saw more than 800 notices issued for significant safety breaches.
Minister for Better Regulation, Kevin Anderson has called upon the industry to improve its standards or risk heavy fines after SafeWork’s inspectors found missing scaffold parts, unlicensed workers, and substandard safety measures for those working from heights. 
“This is no joke – this year alone three people have died and 25 have been seriously injured due to falling from a height,” Mr Anderson said. 
“Over the first three month blitz SafeWork inspectors issued 26 penalty notices, 232 prohibition notices and 580 improvement notices, 500 of which were for risks associated with falling from heights. 
“We will not tolerate poor safety and workers lives being placed at risk on our worksites, and from today we are kicking off a new three month blitz, focusing on these risks.
“The sites we’ve identified can expect another visit very soon.” 
Mr Anderson said the notices were only the first step in the process, and under the recently amended Work Health and Safety Act 2011, non-compliant businesses could face heavy fines or up to five years jail-time. 
“NSW is proud to be leading the way with the strongest work health and safety legislation in the country, and we will not hesitate to prosecute anyone who disregards the safety of others,” Mr Anderson said. 
“Everyone should feel safe doing their job. If you spot anything risky, play your part in protecting your own safety as well as that of your work mates by immediately reporting it to SafeWork via the Speak Up app or <a href="https://speakup.safework.nsw.gov.au/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">website</a>.”
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Second NSW scaffold safety blitz following significant breaches

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A landmark retail freehold in Chatswood will be offered to the market after more than three decades of private ownership.
The space, occupied by international retailer King Living for almost 20 years, is expected to sell within the early $7 millions.
Located at 216-18 Victoria Avenue, the 462sqm asset is positioned on the corner of Chatswood’s most exclusive retail strip.
The two-storey space offers five car parking spaces on the title and a further eight spaces adjacent to the property.
CI Australia’s Nick Lowry holds the listing, noting a space like this is a rare opportunity.
“With a prominent corner location, rental upside and recently upgraded major capital items, this is a triple threat opportunity for investors”, he said.
The auction will be held on Tuesday, September 29, in conjunction with Shead Property’s Rick Sombroek and Bill Gerooulis.  
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Chatswood retail space offered for the first time in over 35 years 

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A trophy home in Western Australia’s Floreat has hit the market.
Located at 82 Oceanic Drive, the property underwent a major revamp by the vendors.
The pair purchased the home, which was architecturally designed by modernist Raymond Jones, in 2017 for $1.08 million.
Jones was mentored under Australian architect Robin Boyd, experimenting with space and environmental design. 
He was known as the 'pioneer of sustainability.’ 
Breathing new life into the four-bedroom, three-bathroom home, the renovated masterpiece is now on the market again.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-09%20at%203.29.56%20pm.png" alt="">
The original unique timber-beam detailing, and parquet flooring from 1964 were kept, however the home has been rejuvenated to a specific level of luxury.
Set on 817 sqm, the home offers an in-ground pool, self-contained granny flat with front access and balcony.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-09%20at%203.30.04%20pm.png" alt="">
The home is listed through Duet Property Group agents Emily Hiskins and Craig Gaspar.
It is situated just moments from Floreat Beach and Wembley Downs golf course.
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Floreat trophy home designed by Raymond Jones listed

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The NSW Government is introducing new measures to crack down on anti-competitive behaviour and expose speculation in the water market, to address concerns raised by regional communities.
Minister for Water, Property and Housing Melinda Pavey said the NSW Government would begin public consultation in November to determine what improvements should be made to our existing water registers.
“Water Transparency is currently front of mind in our communities and we have created multiple platforms to improve it in NSW,” Mrs Pavey said.
“We need to ensure that the details captured on our water register are strong enough to ensure transparency, but don’t go too far by putting farmer’s details at risk."
“The interim ACCC report highlighted the potential dangers to farmers of having too much information on the register and indicated a number of unintended negative consequences of such an approach"
Mrs Pavey said she looks forward to the final Australian Competition and Consumer Commission report to be handed down in February 2021, addressing foreign ownership and water speculation. 
Minister Pavey is also now calling on the ACCC to look at overseas ownership, monopoly ownership and unhelpful speculation, along with registration of brokers across state borders.
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NSW cracking down on water market speculators

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

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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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