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A Hamptons-style property at Shell Cove has set a sale price record for the suburb. 
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The home at <a href="https://m.realestate.com.au/sold/property-house-nsw-shell+cove-130485474" target="_blank">12 Red Sands Avenue</a> sold for $1.9 million.
<div class="teads-adCall">The six-bedroom, three-bathroom house, located opposite parklands, was completed three years ago. </div>
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<div class="teads-adCall">Designed for a culinary artist, the open-plan gourmet kitchen and separate butlers kitchen with servery boasts stunning Calacatta Nuvo bench tops, ample storage options with soft close draws and integrated Smeg appliances.</div>
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The property had been on the market for more than a year until its purchase by a local buyer. 
The previous price record was $1,885,000 set in 2019.
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12 Red Sands Avenue, Shell Cove sold for $1.9 million

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An almond orchard in the New South Wales Riverina has been sold for $98 million to a foreign investment group.
<h2 class="_3mduI _2gTdF _1deB8 jwLlj _1O6ck _1GKnS _2o9MN _1-RZJ" data-component="Heading">The property is 3,841 hectares, which reflects $25,514 per hectare.</h2>
<h2 class="_3mduI _2gTdF _1deB8 jwLlj _1O6ck _1GKnS _2o9MN _1-RZJ" data-component="Heading">The sale is conditional on Foreign Investment Review Board approval.</h2>
Mooral is located 25 km south west of Hillston.
Mooral was sold by ASX-listed investment trust Rural Funds Group which told the ASX in a statement that "contracts have been exchange for the sale of the Mooral almond orchard for $98 million (subject to various adjustments and inclusions) with a global agriculture and timberland investment manager as nominee for a special purpose vehicle that will be owned by pension funds and institutional investors."
It further stated, "it was conditional on completion of due diligence (within 45 days but subject to possible extension) and Foreign Investment Review Board approval". 
It is understood the property has been sold to a North American investment group, Hancock Agricultural Investment Group. 
The 3,841-hectare horticultural property, Mooral, features 808ha of productive almond trees which were planted in 2006 and 2007.
It was the water entitlements that boosted the property's value.
Mooral has 9 kilometres of frontage to the Lachlan River, and water entitlements including 10,305 megalitres of Lower Lachlan groundwater (of which 3,225ML is subject to a lease), 470ML of Lachlan River regulated high-security water and 1,443ML of Lachlan River regulated general security surface water.
The Australian almond industry is now Australia’s most valuable horticultural export industry.  
The Australian Almond Board reported an increase in export sales of 19% to $740 million over the 2015 marketing year, with Australian almonds sold to 50 countries and India comprising close to $200 million in sales.  
World almond demand has now surpassed production, and according to the Australian Almond Board, sales volumes are constrained by the availability of almonds.  
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Hillston almond farm sells for $98m to American investors

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Developer Luke Saraceni has failed in his damages claim against the Commonwealth Bank over the handling of finances for the Raine Square tower.
Justice Paul Tottle ruled that the bank had acted within the terms of the financial agreement between the parties.
Saraceni’s now-liquidated Westgem Investments and his private investment partner Henri Pourzand, had claimed Bankwest and parent company CBA had engaged in unfair and unconscionable conduct.
His barrister Robert Newlinds claimed that the conduct led to extra and unnecessary costs.
Justice Tottle ruled CBA had succeeded in part of its counterclaim, except in relation to a Vasse Newtown development, The West reported.
The ruling is the latest chapter in a saga that dates back to 2008 regarding the $450 million Raine Square.
The bank appointed receivers KordaMentha to Westgem in January 2011 after it missed a $50 million payment.
Bankwest foreclosed on his $16 million Mosman Park mansion and other assets.
KordaMentha sold the Raine Square property to Charter Hall for $458 million in 2013.
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Saraceni loses battle with Bankwest/CBA over Raine Square damages

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Sarah and George are favourites at $2.50 to win The Block at Brighton in 2020.
George is an electrician while his wife Sarah is a high school teacher.
Western Australian’s Luke and Jasmine are second favourites at $3.25 on sportsbet.
Jimmy and Tam have drifted from $2.75 out to $4. Jimmy was a CrossFit champion for several years and met his wife Tam after training her at the gym.
Daniel and Jade are $6 with Harry and Tash at $7.50. 
Over at Ladbrokes the  Queensland couple Jimmy and Tam have been installed as the $3.00 favourites to with The Block: Brighton.
<div>The Brisbane-based plumber and bar manager head the betting at $3.00 with Ladbrokes after the opening episodes of the show.</div>
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<div>Sarah and George sit on the second line of betting at $3.25.</div>
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<div>Perth-based married couple Luke and Jasmin, a chippy and teacher, are third favourites at $4.50, ahead of South Australia husband and wife Daniel and Jade ($5.00), who are a farmer and hairdresser by day.</div>
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<div>Melbourne father and daughter Harry and Tash combination are the outsiders with the IT manager and social media project manager sitting on $5.50 odds.</div>
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Jimmy and Tam have the most followers on Instragram at 4500.</div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"> </div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/Fx8uELrLR8?amp=1" target="_blank" title="http://Instagram.com/DanielAndJade" rel=" noopener noreferrer" data-focusable="true">http://Instagram.com/DanielAndJade</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/uZwct2fTEf?amp=1" target="_blank" title="http://Instagram.com/HarryAndTash" rel=" noopener noreferrer" data-focusable="true">http://Instagram.com/HarryAndTash</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/nR8R2QY96E?amp=1" target="_blank" title="http://Instagram.com/JimmyAndTam" rel=" noopener noreferrer" data-focusable="true">http://Instagram.com/JimmyAndTam</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/ejdJJJdEz6?amp=1" target="_blank" title="http://Instagram.com/LukeAndJasmin" rel=" noopener noreferrer" data-focusable="true">http://Instagram.com/LukeAndJasmin</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/5hKdAviZnX?amp=1" target="_blank" title="http://Instagram.com/SarahAndGeorgeBLOCK" rel=" noopener noreferrer" data-focusable="true">http://Instagram.com/SarahAndGeorgeBLOCK…</a></div>
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Sarah and George set to win The Block Brighton 2020

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The Block has opened casting for 2021.

Couples must be aged between 18-65, energetic and with a sense of humour and available for a 10-12 week shoot period from late February, 2021.

Exact dates and its location are yet to be confirmed.

But first round couples will be reduced to final participants in the first week of filming.

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The deadline is 27th September 2020. Contestants will not be able to work during the shoot period.

Previous home renovation experience is an asset, but not required from both partners.

Successful participants will be paid a nominal weekly fee during filming of The Block to cover basic living costs and expenses.

Out of a 45,000 entries, ten contestants were selected for The Block 2019.

It will be the 17th season with <a href="https://www.castasugar.com/casting-now/block2021" target="_blank">applications being taken here</a>.

Filming of the current 16th season was interrupted by the pandemic.

The contestants left the site for their homes across Australia a month into production.

The contestants started production of the 2020 series in late February.

Harry (57) and Tash (32) — The first father and daughter renovation duo, an IT manager and a social media project manager from Melbourne.

Sarah (27) and George (33) — Teacher and electrician from Sydney.

Daniel (35) and Jade (34) — Farmer and hairdresser from Wandearah in South Australia.

Luke (35) and Jasmin (36) — Chippy and teacher from Perth.

Jimmy (33) and Tam (31) — Plumber and bar manager from Brisbane.

More than a third of the season had been shot.

Nine's production company spent $14.96 million on the 2,770 sqm site of the demolished former Andrina Private Nursing home just off Brighton's Golden Mile. 

It was bought from Nick Williams, son of horse trainer Lloyd Williams.

Williams had plans for 13 townhouses on the block.

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The series' five houses are tipped to fetch $3.5 million plus.

Scott Cam and co-host Shelley Craft returned to the latest series, along with judges Neale Whitaker, Shaynna Blaze and Darren Palmer, foreman Keith Schleiger and his right-hand man (and former Blockhead), Dan Reilly.

 

 

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Applications for The Block 2021 are open

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Matt and Kim’s apartment on The Block Sky High has resold for $1.9 million.
The apartment was transformed on the Sky High series by Matt and Kim Di Costa.
It hit the market for the second time since the 2013 show wrapped.
The three-bedroom pad at <a href="https://www.realestate.com.au/sold/property-apartment-vic-south+melbourne-133393982" target="_blank">201/142 Park St, South Melbourne</a>, had $2 million to $2.2 million price hopes.
The apartment is the only one in the building that has a walk-in cellar.
It also has the most bathrooms.
The apartment sold for $1.455 million in season 7 of The Block, with the WA couple placing third and pocketing $250,000 profit. 
The pad was raking in up to $1600 a week as a rental before it sold for $1.9 million in October 2017.
It was most recently leased for $1450 a week in early 2019. 
Matt and Kim listed it on <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-114301027" target="_blank">realestate.com.au</a> saying the apartment features “professional craftsmanship, exacting standards and the highest quality of materials, appliances, furniture and finishes together with superlative design to create an opulent home and entertainment paradise.”
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Matt and Kim's The Block Sky High South Melbourne apartment resells at disappointing price

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BIS Oxford Economics executive chairman Robert Mellor thinks the golden years of property investing may be over.
"I don't think another investor-led housing boom is around the corner and a key reason is investors will be sitting on the sidelines for a while given falling rents and, for now, falling prices," he said.
"For someone who has watched the residential market for 40 years, you know that when building activity drops off, so too does GDP. The relationship is very strong," he told the Australian Financial Review.
He is forecasting a drop in migration of about 60,000 this financial year and another 150,000 next financial year.
With about 2.7 people per household, the forecast drop equates to about 80,000 fewer houses needing to be built.
"These people who are no longer coming impact on the rental market, so it will significantly reduce demand and that will lift vacancy rates and increase risks around residential property," Mr Mellor said.
Mellor says ongoing state border closures will put substantial pressure on apartment demand in the months ahead.
"All our numbers show the apartment sector is moving into significant oversupply because of lower net migration and rising number of people per household," Mr Mellor said.
"Even if migration level stays at around 100,000 over the next couple of years, this is still just half of the normal demand."
Inner-city apartments in particular are likely to be hit, as rentals continue to flood the market even as landlords struggle to find tenants.
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Golden years of property investing may be over: Robert Mellor

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The supply of new capital city apartments is set to dry up over the next three years as completions plunge.
They are expected to plunge from their present levels in Sydney by 81 per cent and in Melbourne by 75 per cent.
New projects are tipped to be delayed or cancelled because of poor demand following the pandemic slowdown.
The forecasts were made in the <a href="https://charterkc.com.au/research/state-of-the-market/" target="_blank" rel="noopener noreferrer">State of the Market for Residential Apartments report</a> by consultancy firm Charter Keck Cramer.
It also expects a sharp decline in the number of completed apartments in Brisbane, where supply is forecast to slump as much as 90 per cent by 2023.
Charter Keck Cramer director of residential research and strategy Angie Zigomanis said the expected drop in apartment completions could help stem the slide in apartment prices and rents.
"The apartment market could see a relief from lower supply and starts, which will place upward pressure on rents, yields and prices, and in turn should kick-start off-the-plan demand," Mr Zigomanis said.
"If a quick recovery in net overseas migration to pre-COVID levels occurs, the sharp reduction in new dwelling completions from FY2022 is likely to cause a significant dwelling deficiency to re-emerge.
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"However, if net overseas migration inflows and population growth continue to remain weak, then the Melbourne and Sydney apartment markets could be subdued for some time."
The report noted Victoria's recent share of the national total suggested that its net inflow of overseas migrants will fall dramatically from a peak of 91,000 in FY2017, to 11,000 in FY2021.
"On these numbers, the requirement for new dwellings in Melbourne is expected to more than halve from a peak of 57,500 new dwellings in FY2017 to an estimated 27,200 in FY2021."
The supply of new apartments has continued to flow this year through the pandemic, the report noted.
A total of 17,100 apartments were being completed in Melbourne – the third highest on record.
In Sydney, 22,500 apartments were being finished.
It is 5000 in Brisbane.
But the pipeline is diminishing quickly, with project launches and commencement falling sharply.
Only 5300 apartments started marketing in Sydney – an 84 per cent drop from the 2016 high and its lowest level since 2010.
The number of apartments starting construction has tumbled by more than half (57 per cent) to 9200 – the lowest commencements in nine years.
In Melbourne, 12,500 new apartments began construction – a slight increase from a year ago. Only 5600 apartments were being released for sale, which was the lowest number of launches recorded over the past decade.
The time it took to deliver new apartments from launch has blown out as slower sales volumes and more onerous requirements to secure finance has held up projects.
The lag in Sydney has pushed out to an average of 18 months compared to eight months in 2011 and 2016. In Melbourne, the delay widened to an average of 20 months from nine months in 2009.
Historically, larger projects take longer to proceed from launch to construction, however the time frame has converged, highlighting the difficulties in achieving pre-sales and obtaining finance across the board, Mr Zigomanis said.
The report noted the Sydney owner occupier market is holding up, supported by low interest rates, which have improved affordability for those with jobs.
"First home-buyer demand is being encouraged by stamp duty concessions.
"In turn, this is supporting demand for affordable apartments that are suitable for owner occupiers. Both upgraders and downsizes remain active where they are transacting within the same market."
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Price drop to be stemmed as apartment supply set to plunge given COVID-19 pause

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The Australian master franchisee for multinational discount retailer Miniso has collapsed into voluntary administration amid the COVID-19 pandemic.
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Launched in Australia back in 2017, Miniso is headquartered in Guangzhou, China,
It is understood the company suffered from a lockdown decline in foot traffic, and it did not have a very strong e-commerce strategy.
Miniso’s local landlords, including ASX-listed centre owners Scentre Group, GPT Group, Vicinity Centres and Stockland, are not receiving rent payments during the pandemic.
Other creditors, including ANZ Bank, the Australian Taxation Office and parent company Tabata Holdings, are owed more than $6 million combined, with the China-based parent the largest creditor.
Earlier this month an application was granted to the joint and several voluntary administrators of Miniso Master Franchisee Pty Ltd to extend the convening period for its next creditors meeting for a period of six weeks up to and including 21 September 2020.
The first meeting of creditors was held on 23 July 2020.
Miniso operates a hybrid ownership model of business whereby the stores operate through franchisee agreements, joint venture arrangements and stores wholly owned by the Miniso corporate group.
The company purchases and holds stock on behalf of the entities within the Miniso group. The administrators identified 12 group owned stores, 13 franchises, six joint ventures and one wholesale store within the group.
The administrators have, amongst other things, undertaken to continue to trade in order to conserve its value for a potential sale and/or recapitalisation.
The known unsecured creditors of the company, including the landlords, are owed approximately $24.3 million and the secured creditors of the company are owed approximately $132,431. A stocktake showed a stock value of $3.8 million.</div>
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<div>The administrators continue to work with a related party that has expressed interest in putting forward a DOCA proposal. </div>
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Miniso Master Franchisee Pty Ltd, the main revenue generating entity associated with its business in Australia, appointed Grant Thornton as administrators in July.
Miniso has 32 trading stores in Australia, however they are not all in administration.
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“The company entered into voluntary administration generally due to the difficult trading conditions as a result of COVID and consumer trading habits being restrained,” Grant Thornton administrator Philip Campbell-Wilson said in a statement.
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Discount retailer Miniso Australian master franchisee collapses into voluntary administration

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The NSW Government has signalled it will ensure there are more transparent fees for retirement village residents through new laws.
They will also seek to ensure that exit entitlements paid more quickly when residents depart their village.
Minister for Better Regulation, Kevin Anderson, said the new reforms will improve access to exit entitlements, create a new mechanism to support residents moving to aged care, and place a 42-day cap on the payment of recurrent charges for general services.
“We promised to make retirement village fees fairer, and these reforms will put residents first, saving them thousands of dollars and giving them access to their exit entitlements sooner when they leave the village,” Mr Anderson said.
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Under the changes, if a unit remains unsold after 6 months in metropolitan areas or 12 months in the regions, residents will be eligible to receive their exit entitlements if the village operator has not taken reasonable steps to facilitate a sale. The reforms respond to several key recommendations of the independent report into NSW Retirement Villages conducted by Kathryn Greiner AO, which found residents could wait years for their unit to be sold by the operator before they received their exit entitlements. “Waiting extended periods of time to receive your exit entitlement can cause a financial and personal burden. That’s why we’re putting in a safety net that will require operators to buy back the unit from the resident if they don’t use their reasonable endeavours to sell it within the appropriate time period.” “We’re also capping recurrent charges, such as office management and gardening fees, at 42 days after a resident moves out.” Mr Anderson said the Government is also making it easier for retirement village residents to transition directly into aged care. “More than 60 percent of residents transition from villages directly into aged care accommodation. However, under the status quo, many can’t afford these costs if their unit does not sell quickly.” “Under the reforms, the operator will need to cover a portion of the estimated exit entitlement directly to the aged care provide, allowing a seamless transfer.” Retirement villages currently accommodate over 66,000 retired people, and this number is expected to double by 2033. New laws to deliver on the reforms will be introduced into the Parliament later this year.
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Retirement village residents to get greater fee transparency

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."

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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.

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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.

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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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