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One of the Gold Coast’s longest serving community developers Rayjon Group, has received council approval for a $45 million apartment development which will be launched soon.
The Rayjon development, destined to become adjacent to the Rayjon-owned Treetops Plaza Shopping Centre, will take the same approach to the nearly completed Vantage Gold Coast located adjacent to Royal Pines in Benowa.
The Burleigh Waters project will have an exclusive selection of 56 spacious two- and three-bedroom apartments, some with additional multi-purpose rooms and all with large private balconies and two car spaces.
The development, set on a 330 sqm site and designed with plenty of open space for residents, takes a low-density approach on a site that could have easily accommodated significantly more apartments.
The podium level will have a large swimming pool accompanied by an outdoor residents’ lounge, barbecue area and dining pavilion and will also feature a gym and sauna.
The development will be targeting owner occupiers and downsizers in the burgeoning Burleigh precinct.
Rayjon General manager Tyneal Dodds said approval by the Gold Coast council would pave the way for a project launch in coming months.
The development, located at 20 Executive Drive, will offer views ranging from Burleigh Heads to the east, the Surfers Paradise skyline to the north and west to the Gold Coast Hinterland.
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RayJon's $45 million Burleigh Waters residential development approved

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A new renovation calculator launched by Suncorp, and powered by CoreLogic, is helping renovators to estimate the cost of home renovations.
The calculator has been launched in parallel with Channel 9’s The Block which kicked off on television screens across Australia on Sunday, 23 August.
Renovators can use the calculator to quickly determine the estimated costs of various home renovations in any particular suburb, with an extensive range of renovation types.
The calculator provides estimates of renovation costs from internal painting, to a complete bathroom redesign, with each renovation project providing a question string that generates a separate estimated cost depending on the user’s answers.
Suncorp Executive General Manager Lending, Glenn Haslam said the renovation calculator is a useful tool for keen renovators to get a better understanding of the costs associated with their home renovation goals.
“Finances are top of mind for most Australians and with people spending more time at home, we know that many Aussies are starting to think about how they can make their house feel more like home,” Mr Haslam said.
“Before starting any renovation it’s important to start with a budget. Suncorp’s renovation calculator helps provide tangible guidance on the likely cost you could face depending on the scale of your renovation."
“Our Suncorp lenders and brokers can also help prospective renovators understand options to finance their renovation while also balancing their financial goals,” Mr Haslam said.
Lisa Claes, CEO of CoreLogic International said, “As a core sponsor of The Block, Suncorp was searching for a meaningful tool that would help people understand the costs of different types of renovations. The renovation tool utilises data which is updated quarterly to estimate the cost of renovations, including trades, services and materials based on the customer’s location and quality of fixtures used. All facets of the build, including labour and materials, are incorporated, which helps to more effectively estimate the total cost.”
The renovation trend in Australia has been steadily increasing, especially in the current climate with people spending more time at home contemplating home improvements.
“Schemes such as the HomeBuilder grant have also meant that more people are inclined towards a renovation over relocation,” Mrs Claes said.
The Suncorp Renovation Calculator powered by CoreLogic can be accessed at <a href="https://renovation-calculator.corelogic.com.au/suncorp">https://renovation-calculator.corelogic.com.au/suncorp</a>.
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Suncorp launches CoreLogic powered renovation calculator

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A mortgagee home in Cannonvale, Queensland has been sold for $395,000.
It was listed for sale with a price guide of $410,000
The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-cannonvale-119315671" target="_blank">99 Abell Road</a>. 
Set on a 639 sqm block, the home features open plan living area, galley kitchen, in-ground pool and double lock up garage. 
It also features storage cupboards, high ceilings and outdoor entertainment area. 
Lynne Erricker of Ray White Whitsunday has the listing. 
The property was last sold in 2015 for $410,000.
 
 
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Cannonvale, Queensland mortgagee home sold for minor loss

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A Western Australian mortgagee home in the suburb of Bentley went to auction on July 18 unsuccessfully.
The five-bedroom, two-bathroom home which presents an opportunity for a first home buyer or investor has finally sold.
Located at <a href="https://www.realestate.com.au/property-house-wa-bentley-133821094">7a Duke Street</a>, the property offers an open plan living, dining and kitchen space which opens onto a rear courtyard.
Only 10km from the Perth CBD, it is a 254 sqm abode.
Ray White’s Cameron Smart and Kirsty Baker hold the listing.
The property last traded for $475,000 in 2016.
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Bentley, WA mortgagee home sold after unsuccessful auction

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Spacenow has announced that its flexible commercial space marketplace has registered a surge in demand from business owners and individual workers looking for alternatives to long-term commercial space leases.
It is as a result of the Covid-19 pandemic and the pivot to remote working.
Since March 2020, Spacenow has recorded a 290% increase in new customers.
It has recorded a 550% increase in enquiries from both large corporations, SMBs, start-ups and sole traders looking for short term, modulable and Covid-Safe flexible office space options closer to home.
The platform has also surpassed 5,000 listings across Sydney, Melbourne, Brisbane, Perth and Adelaide.
It noted new listings added to the platform every day and customers including Canva, Uber Eats, Merivale, Stan, Allianz, Hoyts, and Woolworths.
Recruiting agency Real Time Australia has ditched its two Sydney &amp; Melbourne offices, now fully reliant on Spacenow for all its commercial space needs.
“The current economic uncertainty and social distancing measures mean that large corporate offices and CBD areas across Australian cities will continue to lay dormant for a while.
"However, working for home every day for months on end isn't a sustainable model for workers both from a workspace set-up and mental health perspective.
"There needs to be another model that supports this shift to remote and hybrid work, one that helps bring work closer to people’s homes, in a safe environment”, explained Daniel Gunning, CEO of Spacenow.
Spacenow has launched Flexible Project Spaces, in partnership with Aussie professional cleaning services marketplace Whizz. It is part of a Covid-19 decontamination service.
With Flexible Project Spaces organisations from all sizes as well as individual professionals and workers can rent any type of space - whether it be a single desk, a meeting room, a full office floor, an event space, an offsite venue or more - by the hour, day, week or month depending on their changing needs.
The Decontamination Service uses a process called antimicrobial fogging which decontaminates touch points and creates a barrier that provides on-going surface protection for up to 28 days.
Gunning added on one end it allows property owners to drive better utilisation and higher revenue from their property assets -
"We’re even seeing hotels transform their rooms into workspaces, while businesses on their end can find affordable solutions to the remote work conundrum, ultimately making consequent leasing savings that they can re-invest in what matters more to their business.”
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Flexible commercial space marketplace Spacenow records 290% growth due to COVID

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Ahead of the full impact of the COVID 19 pandemic, nearly 1 in 10 stores across WA’s 78 largest supermarket based shopping centres is currently vacant, according to a new study by independent commercial property research and information firm, Y Research.
The study physically reviewed the occupancy of metropolitan Perth’s 78 largest supermarket based centres from Butler in the north, Mundaring in the east and Halls Head in the south across June 2020, after relaxation of COVID 19 restrictions.
As of June 2020, the vacancy rate across these centres was 9.4%.
The vacancy rate for WA’s largest centres, Major Regionals which includes centres such as Lakeside Joondalup, Westfield Booragoon and the Galleria, was 7.4%, more than three times higher than their historical average of 1 to 2%. Despite anecdotal evidence that consumers are shopping at local neighbourhood centres, these centres recorded the highest vacancy rate of 13.9%, followed by sub regional centres with 11.5%.
There is a wide disparity across centres reflecting economic conditions across Perth’s suburbs. Claremont Quarter recorded the lowest vacancy rate - 1.7%. Conversely 21 centres across suburban Perth have vacancy rates already over 15%, with 5 centres more than 25% vacant.
There are a range of factors contributing to the current level of vacancy - weak economic conditions post the mining boom, a string of national retailers going into administration and recent centre expansions adding supply.
Y Research Principal Damian Stone said, “So far COVID has had minimal impact on current vacancies. A limited number of retailers, mainly tourism based retailers such as travel agents, have surrendered their tenancies. For a majority of retailers, a combination of rental relief from shopping centre owners, a national code of conduct restricting evictions and Government Assistance (Job Keeper) has seen them return to trading."
"The longer term impact of the pandemic on WA’s shopping centres remains uncertain. Based on discussions with industry stakeholders, the expectation is that across the balance of 2020 we will see a limited number of retailers close, but the new looming cliff is February/March 2021 when Government assistance ends and investment decisions, such as ordering winter stock, are required."
"Retailers will be depending on a strong Christmas/New Year period in order to trade through the worst of the economic pain caused by the pandemic. Going forward, the internet is as much a threat to centres as COVID. The pandemic has driven significant retail sales online with a broader range of consumers happy to shop online through platforms such as Amazon, Uber Eats and retailers’ expanded e-commerce platforms."
"The pandemic has seen the range of products purchased online grow from fashion, food and entertainment (Netflix and books) through to groceries and homewares."
"The continued closure, either full time or on reduced hours, of a number of national chain stores is a likely early indicator of consolidation of store networks adding to existing high vacancies. Further closures will be difficult to fill."
"In response, in the years ahead the tenancy mix across WA centres will evolve with services such as medical centres and gyms becoming a standard feature; lower discretionary spending will drive take up from discount retailers and moves to add density surrounding the centre will be common place."
"For retailers, further discounting will likely be required in order to get consumers to part with limited discretionary spending post Government assistance."
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Nearly 1 in 10 stores across WA shopping centres is vacant: Y Research

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The Byron Bay Holiday Village located at 116-118 Jonson Street, one of the last multi-storey developable sites in the heart of Byron Bay, is to be offered for sale.
The 4,282 sqm Local Centre zoned property will be marketed by John Musca of JLL Hotels &amp; Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments, via a formal expressions of interest campaign.
Owned by the same family for over 37 years the business currently operates as the Byron Bay Holiday Village Backpackers with a capacity of up to 200 guests and was the first purpose-built backpackers in Australia when built in 1983.
Having sold the Beach Hotel in Byron for $104 million Mr Musca noted that the measured approach to new development has assisted in maintaining the areas unique coastal culture, whilst also amplifying the interest in those last remaining sites offering favourable zoning.
Byron’s commercial focus is continuing to extend along Jonson Street where the recently completed Mercato complex will eventually be flanked by a proposed 4-star hotel on the former Woolworths site and a new hospitality and retail complex planned for 90 - 96 Jonson Street. That 5390 sqm property was sold for $29.8 million in January this year, representing $5,528 per sqm.
Mr O’Shea expects that interested groups will appreciate this short-term income strategy however the highest and best use for the site is likely to be development.
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Byron Bay Holiday Village set for sale

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EXPERT OBSERVER
The HIA-Housing Affordability Index for the June quarter 2020 shows housing in Australia remains at its most affordable since 1999.
HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.
Housing affordability improved in the June quarter across all capital cities.
This improvement in affordability means that it now requires less than 1.2 average incomes to service a mortgage on a median-priced dwelling in Australia’s capitals.
This is a rapid improvement from just three years ago when it required more than 1.4 times the average income to service the same mortgage.
The combination of lower interest rates, slow house price growth and relatively steady wage growth over the past three years have driven this improvement in affordability.
Unfortunately this is cold comfort for many first home buyers.
Repaying a mortgage is no longer the constraint it was over the past two decades. The increase in the number of new homes built over the past five years has kept a lid on house price growth.
The challenge facing first home buyers is no longer their ability to repay a loan, but in obtaining a mortgage in the first place.
A decade of red tape has made it significantly harder for first home buyers to obtain a mortgage for purchasing their first home.
A raft of restrictions imposed by APRA and ASIC since the 2007 Global Financial Crisis has seen the number of home loans issued with a 10 per cent deposit fall from 21 per cent of all loans to just 7 per cent.
As the Governor of the Reserve Bank, Phillip Lowe said, the pendulum has swung too far.
The additional red tape imposed in recent years means that banks are increasingly lending to those that already own a home.
Improving access to finance helped pull the economy out of the 1990’s recession and it can do the same for the COVID-19 recession.
The HIA Housing Affordability Index for the capital cities increased by 5.6%, led by Perth (+7.1%), Melbourne (+6.9%) and Sydney (+6.1%). Brisbane also increased by 5.0%, followed by Canberra (3.3%), Hobart (+3.1%), Adelaide (+3.1%) and Darwin (+1.6%). The Index for regional Australia also increased by 4.9 per cent.
TIM REARDON is the HIA’s Chief Economist
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Housing in Australia at its most affordable since 1999

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GUEST OBSERVATION
A department store employee wheels clothes across Melbourne’s Bourke Street Mall on August 5 2020, as retailers prepared to close their doors to customers.
“This is not a bluff,” <a href="https://www.theaustralian.com.au/business/companies/mosaic-could-shut-between-300-500-stores-amid-rent-disputes-online-switch/news-story/8868980e1be2de4048b93b17b9da3880">Scott Evans</a>, the chief executive of Mosaic Brands, has said of his threat to permanently close 300 to 500 stores in Australia unless landlords reduce rents.
Mosiac’s network of about 1,300 apparel stores includes Katies, Noni B, Rivers, Rockmans, Millers and Crossroads. With stores shuttered temporarily due to COVID-19 restrictions, it posted a <a href="https://www.afr.com/companies/retail/mosaic-brands-to-close-stores-after-170m-loss-20200824-p55ovi">A$170.5 million loss</a> in the year to June.
It and other retailers such as <a href="https://www.premierinvestments.com.au/our-brands/">Premier Investments</a> (owner of Just Jeans, Portmans and Jacqui E brands) <a href="https://www.smh.com.au/business/companies/westfield-locks-retailers-out-of-stores-as-rent-battle-escalates-20200820-p55ns2">have reportedly</a> been paying lower or no rent to landlords, on the basis their rents should reflect revenue and landlords should share the pain.
Last week Mosiac’s stalled rent negotiations with Australia’s biggest shopping centre landlord, Scentre Group, led to a <a href="https://www.afr.com/companies/retail/retailers-landlords-in-open-warfare-over-rents-20200825-p55p5f">lockout of 129 Mosaic stores</a>. Scentre also locked the doors to 38 stores owned by luggage retailer Strandbags.
According to <a href="https://www.theaustralian.com.au/business/companies/mosaic-could-shut-between-300-500-stores-amid-rent-disputes-online-switch/news-story/8868980e1be2de4048b93b17b9da3880">Evans</a>:
The retail rental market in Australia is not paused because of the pandemic. It is fundamentally changed for the future.
A history of growth, conflict and negotiation
Though the coronavirus crisis has brought things to a boil, tensions between shopping centre tenants and landlords have simmered for more than 40 years.
Behind Mosaic’s standoff with Scentre are the underlying power dynamics between tenants and landlords. Mutually dependent on one another, they have always fought over the spoils of shopping centre profits. With the COVID-19 crisis, strained relationships are starting to break down.
Australia’s first American-style <a href="https://australianfoodtimeline.com.au/first-australian-shopping-mall/">shopping centre opened in 1957</a>, in the Brisbane suburb of Chermside. It had space for one department store, one supermarket, 24 specialty stores and parking for 650 cars.
As the rise of the private motor car reshaped cities and suburbs, <a href="https://www.propertyobserver.com.au/https://www.routledge.com/Managing-the-Marketplace-Reinventing-Shopping-Centres-in-Post-War-Australia/Bailey/p/book/9781138323025">shoppers embraced</a> the convenience and comforts and comforts of the mall.
By the late 1970s they were the dominant shopping experience, outstripping many established “high streets”. They became <a href="https://www.propertyobserver.com.au/https://epress.lib.uts.edu.au/index.php/sydney_journal/article/view/2817">social as well as commercial hubs</a>.
They were also protected by planning legislation intended to constrain sprawling development, but which also created geographic monopolies by blocking competition nearby.
This all produced highly sought after and valuable retail space.
Naturally owners were keen to increase their profits by <a href="https://www.google.com.au/books/edition/Managing_the_Marketplace/ZbXjDwAAQBAJ?hl=en&amp;gbpv=0">expanding these spaces</a> to attract even more shoppers.
Calls for government intervention
But as centres got bigger and more and more specialty retailers signed leases, complaints began to emerge about exploitation and steep rent hikes. By the early 1980s tenants’ complaints had become an issue for both sides of politics.
Intense lobbying led to government inquiries around the country, which found sufficient evidence to recommend industry self-regulation and then <a href="https://www.propertyobserver.com.au/https://www.legislation.nsw.gov.au/#/view/act/1994/46">retail tenancy legislation</a>.
But the fundamental power dynamics remain. Landlords still have the most convenient and attractive locations for stores. They have control over entire retail environments, and even collect the sales data of their tenants. Their bargaining position in leasing negotiations is invariably very strong.
Sharing profits and costs
In 2008 a <a href="https://www.pc.gov.au/inquiries/completed/retail-tenancies/report/retail-tenancy-market.pdf">Productivity Commission inquiry</a> noted:
Well-managed shopping centres can unify a large and divergent group of tenants and help centre trade. In return, tenants in centres generally pay higher rents and outgoing expenses than similar tenants in a shopping strip and forego some independence in operating their business.
It has often been a mutually advantageous relationship, but there has always been a contest between tenants and landlords over how they share both benefits and costs.
The retailers’ argument is rent should be based on the value of the customer traffic the shopping centre delivers to their stores, and those customers have evaporated with COVID-19. As analyst <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-21/shopping-centre-landlords-among-biggest-coronavirus-losers/12271266">Bill Mooney put it</a>:
With a lease agreement there’s an expectation of a certain amount of customers coming through into the shopping mall and if that nexus is broken, then yes, the landlord can insist on his rights, but which retailer is going to continue to pay rent and go broke?
Mosaic’s projection of store closures emphasises this point.
No one will come out of this a winner. The fight to minimise losses will be bitter. The first casualties will be the most vulnerable: the smallest tenants, with the least bargaining power, in the most precarious financial situations. This echoes the broader pattern of the pandemic’s impact.
For landlords there are longer-term questions. Will the current standoff push retailers towards a permanently smaller physical footprint and greater investment in online shopfronts? Has it created even more uncertainty about retail’s future? How deeply has trust been eroded?
Whatever happens, when there is any sort of return to normal, both sides will enter fresh leasing negotiations with an acrid taste from what is rapidly becoming their most vitriolic fight to date.
<hr>
This article has been co-published with <a href="https://lighthouse.mq.edu.au/">The Lighthouse</a>, Macquarie University’s multimedia news platform.<img src="https://counter.theconversation.com/content/145094/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-bailey-414427">Matthew Bailey</a>, Lecturer, Retail History, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/trouble-at-the-mall-as-landlords-and-tenants-ponder-mutually-assured-destruction-145094">original article</a>.
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Trouble at the mall as landlords and tenants ponder mutually assured destruction

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Within the inner suburbs of Sydney, buyers with a budget of $700,000 or less are limited to studio, one- or two-bedroom apartments, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
However there is still a wide range of factors to consider such as location, size and quality of development, living area size, aspect and natural light, parking and many other fundamental aspects such as nearby infrastructure and potential oversupply issues within the immediate area, the HTW noted. 
"If considering buying within this market segment, it is generally important to purchase something to which you can add value by doing minor renovations and buy within smaller scale, good quality buildings that have some character and are located in convenient positions where people want to live, close to public transport, schools, parks, local shops and cafés, etc," the valuation firm said. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-darlinghurst-133362654" target="_blank">6/1 Darley Street, Darlinghurst</a> (pictured below) was advertised for sale throughout April and May with an asking price range of $550,000 to $580,000, and sold for $513,000 on 29 May 2020.
Interestingly, the previous sale was five years ago in July 2015 for the same price of $513,000 when it sold prior to auction, the report noted. 
This is a small, one-bedroom apartment with an approximate living area of 37 square metres and no outdoor areas or parking. 
This style of property is aimed at investors, or to a lesser extent, first home buyers.
 The rental market has been negatively impacted due to COVID-19 which directly affects how much investors are willing to pay for investment properties of this nature. 
Furthermore, the rental history for this property as per RP Data indicates that the asking rent during 2010 was $425 per week and the recent asking rent as at March 2020 was $495 per week, however this appears to have now reduced to approximately $400 per week.
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This is a good example of an entry-level property below $700,000 within a popular inner-east location and approximately two kilometres of the Sydney CBD, the report noted. 
This property also benefits from heritage character and could prove to be a good purchase for a first home buyer, or a steady longer- term investment, provided of course that you could cope with the reduced rental income in the current market.
The report noted other matters to consider for this type of property are some lending policies on properties with a living area of less than 50 square metres requiring a larger deposit.
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<a href="https://www.realestate.com.au/sold/property-apartment-nsw-marrickville-133585994" target="_blank">8/73 Warren Road, Marrickville</a> (pictured below) is another example of an entry-level property in the inner west region of Sydney, the report noted. 
It is located approximately 9 kilometres from the CBD and sold for $655,000 on 13 June 2020.
This is a two-bedroom, one-bathroom apartment situated within a two-level walk-up building constructed circa 1970.
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The unit benefits from updated interiors and a single car space.
The property is positioned in a quiet street and located approximately 500 metres from Marrickville train station and local shops.
Similar two-bedroom units can achieve a rental income of approximately $450 to $500 per week.
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In the east, you are generally looking at studio or one-bedroom units with car accommodation at this price point, which is entry level for first home buyers or local investors, the report noted. 
Slightly further away in the inner south, suburbs such as Botany, Mascot, Rosebery, Zetland and Waterloo, which typically have a large supply of modern units, provide more options for those looking to buy in the area.
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"In the current market, investors should look away from over supplied areas and large unit developments and instead focus on older style walk-up units requiring renovation to add value. 
"The oversupplied areas will always be more volatile due to large supply and many similar style developments. The properties likely to perform the best are those that are unique, with views or proximity to the beach or harbour, or those that can offer value add through renovations," the valuation firm said. 
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What $700,000 can buy in Inner Sydney: HTW residential 

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.

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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.

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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.

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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.

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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.”

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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.

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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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