<html><body>
A Fox Johnston Architects-designed four-bedroom, five bathroom contemporary Bronte trophy home has been sold for around $8.5 million.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-bronte-133913174" target="_blank">27 Evans Street </a>home owned by property power couple Stephen Auld and Charlotte Peterswald sold to a Yowie Bay family.
Set on an elevated corner block, the home offers over 420sqm of internal living 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/2020/8/31/bronte%202.jpg" alt="">
It comes with sun-drenched living, open plan dining, north facing terrace with outdoor lounge and rumpus room with cocktail bar. 
The home also features gas fireplace, heated pool, sauna, home gym, triple garage and lift to all levels.
<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/2020/8/31/bronte%203.jpg" alt="">
Situated within Bronte Public School catchment area, it is within walking distance to Bronte Beach and the ocean pool. 
Alexander Phillips and David Tyrrell of PPD Real Estate had the listing.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Fox Johnston-designed $8.5 million Bronte trophy home sale

<html><body>
Residence Number Two, of 165 Oceanic Drive in Warana has been successfully sold for $1.52 million.
The four bedroom two bathroom home is in the style of mid century modernity.
The brand new abode was designed by Palm Springs Architecture.
Designed to offer a relaxed beachfront lifestyle, light filled interiors flow over two levels of luxury boasting high end finishes. 
With an emphasis on indoor-outdoor living the private in-ground pool features  quartzite tiles and is complimented by contemporary polished concrete surrounds and an integrated outdoor living zone.
Features include direct beach access as well as a double garage with internal access, additional storage and rear access.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%204.45.40%20pm.png" alt="">
</body></html>

Mid century modern trophy home in Warana sold

<html><body>
One of the biggest sales across Sydney at the weekend was a modern home at <a href="https://www.domain.com.au/25-tripod-street-concord-nsw-2137-2016405208">25 Tripod Street, Concord,</a> which sold for $4.21 million.
It was for $810,000 over the reserve.
<div class="fe-co-property-driver" data-febuild-id="fe-co-property-driver_1">
<div class="css-cx7c56" data-testid="property-driver">
<div class="css-189dagc" data-testid="has-cta">
<div class="css-1i2jgjj">The 25 Tripod Street, Concord home had five bedrooms and four bathrooms.</div>
<div class="css-1i2jgjj"><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/2020/8/31/concord%202.jpg" alt=""></div>
</div>
</div>
</div>
The two-storey property features a pool and gym.
It was bought by a family living just two suburbs away in Sydney’s inner west.
Belle Property Strathfield agent Norman So said there were 14 registered bidders, with five of whom active after the opening bid of $3.4 million.
</body></html>

Concord trophy home sells for $4.35 million

<html><body>
A mid century modern home in Anglesea has successfully sold for its asking price of $1.425 million.
The four bedroom, two bathroom home is a blend of existing 1950s property designed by Jane Millar architects.
This modernist style home at 27 Holmwood Avenue is known as "Holmwood".
With direct outdoor access to an impressive generous north facing rear deck which is ideal for soaking up the sun, it's described as a private oasis. A double carport, laundry and storage are located under the living and dining addition.
The fully landscaped garden featuring stonework attracts visiting wildlife and native birds.
This coastal home is set in a highly sought after location within walking distance of the surf beach, river, golf course, cafes and Anglesea's shopping village.
</body></html>

Mid century modern Holmwood in Anglesea sold

<html><body>
A luxurious coastal home set over three levels in New South Wales’ Blueys Beach sold this month, with no price reveal.
After just under five months on the market, the architectural north-facing home sold for an undisclosed price.
Located at 111 Newman Avenue, the home offered a garden terrace, whole floor children’s or guest wing and lift access.
The new owners of the four-bedroom, two-bathroom home will enjoy sweeping views of the beach, paddocks and district.
<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/2020/8/31/blueys%20beach%202.jpg" alt="">
It was listed by Pacific Palms Real Estate agent Matt Healey in conjunction with Christie’s Darren Curtis.
The home is neighbour to another trophy home that has been stuck on the market for years.
<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/2020/8/31/blueys%20beach%203.jpg" alt="">
Next door, 115 Newman Avenue which sits atop the shared cul de sac has a combined on-market time of almost five years since 2010.
Originally listed for $2.5 million, it was taken off market in 2012 before being relisted in 2013, 2014 and 2018.
The asking price of the four-bedroom, three-bathroom was reduced to $2.1 million before it was taken off the market again in mid-2019.
 
XXXXXX
111 SOLD 
<h4 id="attr-single-line-address">111 Newman Avenue Blueys Beach</h4>
A Blueys Beach trophy home set atop the cul de sac remains stuck on market for another year.
The home has been on and off market since 2010 with a combined on market time of almost 5 years
Set against the Blueys mountain with a NE aspect, it features views across the length of the beach.
Originally listed for $2.5 million in 2010, it was taken off market in 2012 before being relisted in 2013 with the asking price reduced to $2 million.
It was taken off market for a second time in 2015, before being relisted in June last year with a price guide of 2.1 million.
Featuring a curved roof design the property spans 700 sqm.
The four bedroom three bathroom house features, timber floorboards, an open fireplace, sun drenched decking and a covered alfresco/entertaining area. 
</body></html>

Blueys Beach coastal trophy home sold 

<html><body>
Garfield Towers, a Surfers Paradise building comprising 30 strata titled units, has been listed for sale.
The block of apartments at <a href="https://www.realestate.com.au/property-unitblock-qld-surfers+paradise-134354014" target="_blank">43 Garfield Terrace</a>, right on the beachfront, dates back to the mid 1960s.
Garfield was the first high rise ever to be built on the beach.
The lots will be offered by the individual owners, many of whom own several apartments.
The owners know a re-development is the best outcome for a building once known as the most luxurious accommodation available on the Gold Coast.
There is interest from some of the owners in acquiring one of the new apartments.
All 30 apartments have two bedrooms.
The tightly held block last saw a sale in 2019, when a ninth level apartment sold for $510,000.
It was the first sale since a $325,000 sale over a seventh level unit in 2015.
Oxbridge Agent's Thomas Dennis is marketing the Gold Coast property on 1,620 sqm that sits next door to the Northcliffe Surf Life Saving Club.
 
</body></html>

Entire beachfront Surfers Paradise unit block listed

<html><body>
New data shows the Morrison Government’s successful First Home Loan Deposit Scheme has helped get Australians into a home of their own up to four years earlier than they had planned.
The National Housing Finance and Investment Corporation (NHFIC) Trend and Insight Report, shows the Scheme had an outstanding first year.
The Report also found the Scheme supported one in eight of all first home buyers who purchased a home in Australia between March and June 2020.
Australia’s essential workers secured one in six of the Scheme’s guarantees and around three quarters of guaranteed loans were taken up by Australians aged between 18 and 34 years of age.
Guaranteed loans were secured in all parts of the nation with major cities attracting 62.3 per cent of buyers under the Scheme, while 37.7 per cent purchased in regional areas.
The largest amount of applications for guaranteed loans, 46.1 per cent, were made through mortgage brokers.
Almost 70 per cent of buyers using the Scheme purchased a detached house, with 25 per cent buying an apartment and five per cent purchasing a townhouse.
</body></html>

One in eight FHB homes bought with First Home Loan Deposit scheme

<html><body>
<div class="page" title="Page 1">Manenti Quinlan &amp; Associates, in conjunction with John Hannigan Real Estate Services have announced the sale of the Rous Hotel, Lismore on behalf of the Bulmer family who have owned the hotel for over 20 years.</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
While the sale was looming earlier this year, the complications of the COVID-19 lock down required careful navigation.
The hotel occupies a prominent 1,745 sqm corner site and offers a Main Bar area, Bistro/Café Rous, Gaming Lounge with 12 devices, Enclosed Beer Garden and Large Carpark. On the first level, the Hotel offers “Reels Bar” Cocktail and Lounge Bar and a 2-bedroom fully self-contained Manager’s Residence.
After closing the Drive-Through Bottle Shop in April 2018, hotel trade was strategically repositioned to take advantage of growing function trade, with the old bottle shop space converted into “The Greenery” function area.
</div>
</div>
</div>
Lismore City is located in the Northern Rivers Region of New South Wales, about 730 km north of the Sydney CBD, 47 km south-west of Byron Bay and 35 km west of Ballina.
Leonard Bongiovanni of Manenti Quinlan and Associates stated, “While we continue to field numerous enquiries for hotels in strong regional areas, the sale of the Rous Hotel demonstrates the continued appetite for these premium assets. Under the new ownership, the hotel is poised to be a local icon for many years to come”.
</div>
</div>
</div>
</body></html>

Bulmer family's Rous Hotel in Lismore sold

<html><body>
New and prospective homeowners will have protections against purchasing defective residential apartment buildings from tomorrow, when the NSW Government’s landmark Residential Apartment Buildings Act 2020 comes into effect.
Minister for Better Regulation Kevin Anderson said the new laws work to prevent buildings with serious defects going on the market, and give clear recourse in the event of a defect.
“The days of shonky certifiers and dodgy developers ripping off unknowing apartment buyers are numbered. They are officially on notice – we can now stop you pushing defective buildings onto consumers,” Mr Anderson said.
From tomorrow, September 1 the Office of the NSW Building Commissioner will have the power to stop defective apartment blocks from being built and sold.
"Developers who have done the wrong thing can also face huge fines," Mr Anderson said.
The changes include a compulsory six-month notification that a developer will be applying for an occupation certificate; powers to withhold an occupation certificate where the building is not up to scratch; the ability to order rectification of any serious defect and recover costs associated with that rectification; and on-the-spot inspections of buildings up to six years old, and in extreme circumstances up to 10 years old.
“These new powers provide a massive increase in the level of assurance and protection for consumers. They are a critical step in the NSW Government’s commitment to restoring consumer confidence in the building sector,” Mr Anderson said.
NSW Building Commissioner David Chandler OAM said they send a clear signal to the construction sector that sub-standard projects will not be tolerated. 
“Our sights are set on the small percentage of industry players who aren’t doing the right thing. Whether you are a builder cutting corners, or a certifier passing work that isn’t good enough – expect action from our new team of inspectors,” Mr Chandler said.
“We acknowledge, however, that sometimes things may not always go to plan, and I want to assure industry that we will work constructively during the audit process with parties who are trying to do the right thing to help resolve issues efficiently.”
</body></html>

NSW laws to ensure new apartments get serious defects fixed

<html><body>
EXPERT OBSERVER
Markets will little or nothing available for rent have become one of the most compelling stories in Australian real estate.
Vacancy rates under 1.5% are now common all over Australia and property managers with a new rental listing are finding dozens of candidates showing up to compete for the property.
Every day I’m having conversations with real estate professionals of various types – buyers agents, valuers, selling agents, property managers and developers, as well as everyday consumers – and I’m hearing the same stories from locations in every state and territory. There’s little or nothing available for rent and it’s putting serious upward pressure on rents.
Scott Mitchell runs Mitchells Realty in Queensland’s Hervey Bay. It’s a pretty good place to have a real estate agency at the moment because Hervey Bay is a good fit with one of the nation’s biggest trends – the Exodus to Affordable Lifestyle.
You can buy houses for around $300,000-350,000 and walk to the beach, where you’re looking across at stunning Fraser Island. Or, if you’re an investor, you can get rental returns on houses in the 5.5% to 6% range.
Right now the region’s vacancy rate is about 1%. Mitchell says a local property manager recently offered a place to rent and over 40 people showed up to compete for the tenancy. “They were queued up at the front of the house and I’ve never seen that in Hervey Bay before,” Mitchell says.
I’m hearing stories like that from professionals and investors around Australia. And this anecdotal evidence is supported by the data on vacancies and rents.
In the growth city of Gympie, just up the road from the Sunshine Coast, the vacancy rate is 0.6%.
In Bendigo in Victoria, most postcodes have vacancy rates below 0.5% (and most suburbs have had median house price growth between 8% and 15% in the past 12 months). It’s a similar story in Ballarat.
In Albury-Wodonga at the NSW-Victoria border, all of the local postcodes have vacancies under 1%, including two which are just 0.2% and one where vacancies are listed as zero.
Orange west of Sydney has a vacancy rate of 0.4%.
In Adelaide, the overall vacancy rate is below 1% and that’s common right across the South Australian capital. It’s similar across metropolitan Perth and in Hobart, Darwin and Canberra.
Hobart’s vacancy rate has been below 1% for years and is currently 0.7%.
Where are the investors? Mostly they’re sitting at home reading about how high the vacancies are in the Sydney and Melbourne CBDs and how rents are plummeting (to use a word beloved by journalists) in the two biggest cities. And being spooked by that and other media misinformation.
Your average punter isn’t well-informed and is essentially a herd animal. He or she thinks reading big city newspapers is research, when in reality it’s the antithesis of research – it’s the gathering of myths and misinformation and the absorption of negative vibes from journalists for whom the glass is always half empty or completely empty.
There are exceptions, of course, and investors with their radar attuned to opportunity are out there busily competing with first-home buyers and other owner-occupier consumers in places like Adelaide, Perth, Canberra, Brisbane and dozens of strong regional markets across the nation.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
</body></html>

Vacancy rates under 1.5% now common all over Australia: Hotspotting's Terry Ryder

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

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News