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Sydney-based fund manager iProsperity and Singapore-based fund manager ZACD Group have announced the acquisition of a portfolio of 23 hotels in Australia from Luxembourg hotel investor, AccorInvest. 
The portfolio comprises 17 hotel properties which have been acquired for AUS $212.6 million.
 The transaction also incorporates six leasehold interests to be transferred subject to various conditions.
The transaction in terms of number of hotels is one of Australia’s largest hotel portfolio sales with 3,046 rooms and across Accor brands comprising MGallery, Novotel, Mercure, ibis and Ibis Budget. 
The hotels are located in Brisbane, Sydney, Melbourne, Canberra, Perth and regional New South Wales.
The transaction was brokered by Craig Collins and Peter Harper of JLL Hotels &amp; Hospitality Group.
iProsperity have been Australia’s most active hotel investor over the last four years.
ZACD are an integrated asset manager listed in Hong Kong and headquartered in Singapore, offering integrated solutions across the real estate value chain.
Co-Founder and CEO, Stanley Yeo commented, “We are delighted to be partnering with iProsperity on this geographically diverse hotel portfolio. We both hold a strong conviction as to the positive outlook for the Australian hospitality market and we see this portfolio as an excellent vehicle to build a meaningful presence in the Australian hotel market.”
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j.ballantyne1990-6AQqhLzZaK

iProsperity and ZACD to acquire 23 AccorInvest hotels

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Ray White Rural South Australia has eight rural properties going under the hammer.
The ongoing growth in farming land values in SA over the past few years has led to this flurry of auctions. 
The offering of Pine Drive (pictured above) presents an opportunity to acquire a 712 hectare parcel of land in the Farrell Flat area.
It's now in its fourth generation and 100th consecutive year of ownership in the same family name, Pine Drive is being offered for sale as a whole.
Ray White Rural SA Director Geoff Schell said some of the higher rainfall areas and more reliable cropping areas had seen capital growth of up to 20 to 30 per cent in the last two years.
<img src="https://f.datasrvr.com/f1/319/14297/Pinerow.JPG">
Mr Schell said, “many of the properties coming on to the market are from those exiting agriculture because they don’t have the next generation coming home to the family farm."
“They’re also coming from those who don’t have the scale of operation for business efficiency or don’t want to or are unable to increase debt levels to invest further into farm expansion."
“With the continuing dry across Australia, we’re also seeing very strong enquiry from within SA and NSW and the drier areas of Victoria for the higher rainfall areas of SA. The south-east region of SA has performed very well when many other areas have struggled."
<img src="https://f.datasrvr.com/f1/119/61884/Schaefer's.JPG"> “With the continued strength of the livestock sector, a number of our clients have sought opportunities to purchase grazing properties in south-east SA and higher rainfall areas of the Mid North and there’s also good enquiry for well-developed SA pastoral properties.
“We're also seeing investor interest in agriculture where both smaller private investors and high net worth investors see agriculture as a key investment area with solid returns and a bright future for the sector.
<img src="https://f.datasrvr.com/f1/419/73637/Smithams.JPG"> “Despite ongoing dry conditions for many areas of SA, many sales of agricultural and grazing land throughout SA have exceeded expectations in the last couple of years. In the reliable rainfall districts, we’ve seen demand outstripping supply. “South-east SA has seen a resurgence in enquiry levels in the past 12 months with buyers looking for the higher rainfall and reliability of this region," he concluded.
Upcoming Auctions for Ray White Rural SA;
<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W2MERuzm6e+Z6y3Pqqlj1pJcAcFf+Af6RD0LxTw6DAC7b9SGE8BF3zg/3WIOVEW9P0=&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Pine Drive’, Farrell Flat</a> - Wednesday 2nd October, The Valleys Lifestyle Centre, Clare <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W04WNxcLG5N1TFd63ZuBx8H/LXZPPUfE/Iaqyt5d6CuM9ntD1hROEtV&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Smitham’s’, Hart</a> - Wednesday 9th October, The Valleys Lifestyle Centre, Clare <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W1hZ1VESpObD+5epUppz3lYUQ5pqmO8uxXyFpBbN+1s2xG4NT88QDq3Q0KkyI1zr6I=&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Pinerow’, Wirrabara</a> - Tuesday 15th October, Wirrabara Town Hall <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W1hZ1VESpObD66rBHOFEW1zRpgeigMxx789eW4SDO9xHy752u0QoDbUHw0F9UENoU4=&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Stone Hut’, Wirrabara</a> - Tuesday 15th October, Wirrabara Town Hall <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W0ybM1E5dEG1dWaWgP4Lrlp8HLC0+V4yczD/WKlzzRfcoC5HEw3RCUXiCssyNKgJcw=&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Schaefer’s’, Bethel</a> - Thursday 17th October, Dutton Park, Kapunda <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W0ybM1E5dEG1RhovXw1rbB5My9i7JfQFKWpAdmgc3r8JbCKo4tqSok7&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Bagot Well Block’, Bagot Well</a> - Thursday 17th October, Dutton Park, Kapunda <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W3I/1cdNSG2EXnn7u0nOb1vwGKWONmhaxTOP1uR8oGGCS0JQsHKNsdkj+S6My/nAXs=&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Launer’s’ Robertstown</a> - Thursday 17th October, Dutton Park Kapunda <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1Iv0mRHy/+dfphG6yLgAlW42AdMS8CdJ6URjGVdlxj6YlGgsGsZN3W1hZ1VESpObD66rBHOFEW1zuWA28l3Esur8rsJaQvazRlnRNmAmt+qu&amp;rh=ff00527bf108b4e4e8f335fe774bbd1e785f7c51" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">‘Cobiacs’ Wirrabara</a> - Thursday 24th October, Wirrabara Town Hall.
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Pine Drive in Farrel Flat, SA offered after a century: Ray White

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ASIC is seeking the public’s view of school banking programs as part of its ongoing review of their use and impact in primary schools.
Members of the public and organisations interested in the issue are encouraged to respond to questions posed in the <a href="https://consultation.asic.gov.au/financial-capability/review-school-banking-programs/" target="_blank">Consultation Paper 323</a>, Review of school banking programs.
Community opinions will help inform the development of high-level principles on the implementation of school banking programs.
ASIC Commissioner Sean Hughes said, "Young people are engaging with money every day and they need to understand financial concepts and develop the skills to identify financial services that are right for them. Financial literacy is embedded in the Australian Curriculum, and needs to be – and there is a long history of school banking programs in Australian schools."
"It is important for ASIC to understand the range and extent of impacts that school banking programs can have on students, parents and school communities, as part of our responsibility to ensure the financial sector is delivering for all Australians, and especially for future generations of financial consumers."
ASIC has already consulted with a diverse range of stakeholders including primary school principals, parents, present and past students and organisations from the education and consumer advocacy sectors, as well as the authorised deposit-taking institutions offering the programs.
It is expected the review will be completed in early 2020.
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ASIC is seeking public input on school banking programs

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Susan Lloyd-Hurwitz, the Mirvac chief executive, has spent $770,500 to buy a bolthole in Mirvac's recently completed development in Melbourne, the Eastbourne, which boasts apartments as an "inner city Eden".
She has recently noted securing her mortgage had been a "painful process."
"It's tortuous."
The scrutiny can "get non-sensical" she added. 
Title documents reveal her banker is Westpac.
The Killara-based Lloyd-Hurwitz had been known to be an off the plan buyer since the complex went up for sale in the pre-Royal Commission days of 2016.
Buyers of the apartments have also emerged as including Mirvac director Elana Rubin who spent $1.89 million.
There have now been calls for the Mirvac annual report to list such purchases in its related-party disclosure requirements.
Mirvac argues no specific declaration about an acquisition is required because shareholders were on notice that its directors had the opportunity to purchase apartments.
This article was first published in the Weekend Australian.
 
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Mirvac boss calls mortgage approval process 'tortuous' after buying Melbourne investment apartment

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The Brisbane CBD office market will benefit from continued growth in Queensland’s economy, according to the latest research from Knight Frank.
Their Brisbane CBD Office Market Overview found the underlying growth story of Brisbane and Queensland remains, with employment in the office-based sectors to show sustained growth, despite economic growth forecasts moderating due to global factors.
Knight Frank Partner Research and Consulting Queensland and report author Jennelle Wilson said, “forecast employment growth is expected to be a standout in 2019 with the Brisbane region to record 25,000-plus more jobs in the core office-based industries, according to Oxford Economics"
“While 2020 is expected to be lower, the coming five years will average 10,500 office based jobs per annum."
The Knight Frank findings showed tenant demand in the Brisbane CBD office market had remained steady with net absorption positive and vacancy decreasing to 11.9%, the lowest level in seven years, and down from 14.6% a year earlier.
Knight Frank Partner and Joint Head of Office Leasing Mark McCann said, the finance and insurance industry accounted for 26% of tenant activity over 2018 and 2019 due to the Suncorp pre-commitment to 80 Ann Street, followed by government and public administration at 22%, and resources and energy at 10%. 
“For the past 12 months both the CBD and fringe markets have recorded positive net absorption, ending the period of one market stealing tenants from the other," he said.
Supply additions in the market through late 2019 and early 2020,  will place a gap on further near-term vacancy falls, with vacancy expected to tick slightly upwards to reach 12.5% in January 2020.
From 2020 onwards the vacancy rate will resume a downward trend.
Ms Wilson said effective rental growth has continued in the Brisbane CBD office market, as vacancy has decreased and demand remains positive, with prime and secondary effective rents growing by 1.2% and 5.6% year-on-year respectively to July 2019.
“The majority of uplift is coming from face rents as incentive erosion has slowed. Tenants are motivated to relocate and upgrade where capital costs are mitigated.”
"Investment volumes in the Brisbane CBD office market are high, sitting at $2.86 billion over the year to September, roughly $1 billion higher than the corresponding period one year earlier ($1.82 billion)," she said.
While sales over 2018 were dominated by offshore buyers, there has been a noticeable decline in the level of direct transactions being undertaken by offshore buyers during 2019, according to the research.
The data shows the balance between domestic and offshore buyers has flipped in the 2019 calendar year to date, with offshore purchasing representing only 17% of transactions, compared with 73% in 2018. 
Yields in Brisbane’s CBD office market have continued to tighten, although the pace of contraction is reducing.
Mr McGrath noted, “Compressing by 23 basis points over the past year, Brisbane CBD yields are starting to move more in line with the Sydney and Melbourne CBDs.” 
“This comes after a period of accelerated yield compression as Brisbane was re-rated by investors," said Mr McGrath.
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Outlook positive for Brisbane's CBD office market: Knight Frank

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The Melbourne auction market had a weekend off, while Sydney saw its busiest Saturday so far this year.
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There was a significant drop in the auctions volume across the combined capital cities, with 1,262 homes taken to auction, down on the 1,983 auctions held in the prior week.
 The overall lower activity was mostly attributable to the drop in activity across Melbourne given the AFL grand final long weekend.
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The Sydney auction market had its busiest weekend for auctions since November last year, with 939 homes taken to market over the week.
There were 719 Saturday auctions, with 558 results captured and 442 sold.
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It reflected a preliminary clearance rate for Saturday of 79 percent - which was slightly higher than the prior weekend, suggesting demand was keeping up with supply.
Last year, 608 Sydney homes were auctioned when a much lower 43 per cent sold, Kevin Brogan the CoreLogic auction analyst noted.
Saturday's highest result in Sydney was when seven registered bidders sought the five-bedroom, three-bathroom offering on Cherry Street, Warrawee (pictured main).
It fetched $5.35 million when sold to a local family whose son attended nearby Knox Grammar.
Sydney's cheapest was $290,000 at Greenwich for a studio unit within a 1965 apartment complex (below).
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The unit, at 303/284 Pacific Highway, had 26 sq m of open plan space with a kitchenette.
There was a covered car space on title. The flat previously sold in mid-2005 for $160,000.
It has been rented out to tenants since, with a most recent advertised price of $335 per week.
It was sold by Better Homes and Gardens Real Estate agents Justine Collins and Lloyd Allen.
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Melbourne saw a significant drop in volumes with only 103 homes taken to auction, down from the week prior when 1,020 Melbourne homes were taken to auction. 
The lower volumes returned a preliminary auction clearance rate of 82.5 percent, coming in higher than last week’s final clearance rate of 75.6 per cent and last year’s 57.7per cent when there were the 70 auctions.
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First home buyers secured the four bedroom, two bathroom offering at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1FUm79H1eIB70W+u2VuCzsdNyWoyjKrjdyivCTgwf18/FNllg72X7zS86C8pouCB9GqSidTrutcWDvUbMQcPh/FGv07iJCzp49gxkly4IgCQ&amp;rh=ff00527bcb13770fbf5ade1e654082af1e50531d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">382 Dandelion Drive, Rowville</a> (below).
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The Ray White marketing suggested the home needed TLC, with keen renovators bidding after the initial bid of $480,000.
There were five bidders for the house which was called on the market at $620,000. A young couple paid $760,000.
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Across the smaller auction markets, auction volumes were lower week-on-week across all cities. 
The best performing in terms of clearance rates was Adelaide with 62 per cent of auctions returning a successful result, Canberra followed with a 58 per cent preliminary auction clearance rate.
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There was a 50 percent success rate in Brisbane where the top sale was a four-bedroom, two-bathroom house at New Farm<a href="https://www.domain.com.au/77-langshaw-street-new-farm-qld-4005-2015602762">,</a> in Brisbane’s inner north (below).
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The Queenslander at 77 Langshaw Street attracted six registered bidders when sold for $2,195,000.
It last sold in 1988 at $205,000.
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Sydney weekend auction results remain strong

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An Ashby, West Australia mortgagee home has been listed for $429,000.
If it sells at or below that asking price it would mark the second consecutive reduction in value for the property.
Sheldon Ingham of LJ Hooker is currently marketing the house.
Situated at <a href="https://www.realestate.com.au/property-house-wa-ashby-131739414" target="_blank">28 Gausson Turn</a>, the abode is comprised of four bedrooms, two bathrooms and a two car garage.
Set on 570 square metre, the house was built in 2003.
The home last sold in 2012 for $455,000 and previously in 2007 it sold for $475,000.
The one story home is located within walking distance of parks and in close proximity to schools, shopping and public transport in nearby Wanneroo.
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The median sale price for an apartment in <a href="/developments/ashby-wa-6065">Ashby, WA</a> is $445,000, according to the latest CoreLogic data.
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Ashby, WA mortgagee home listed for less than its 2007 sale price

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An Innaloo, West Australia mortgagee home has been sold for $390,000.
The asking price for the home was originally $495,000 when it was listed in 2017.
Matt McWaters and Tony John of Harcourts Empire marketed the listing in this latest campaign.
Situated at <a href="https://www.realestate.com.au/property-villa-wa-innaloo-131419346" target="_blank">13A Morris Road</a>, the villa previously transacted for $485,000 back in 2008.
Set on 251 square metres, the three bedroom, two bathroom town house is described in the listing as a "spacious entertainer".
The abode was listed as a rental seeking $425 per week a day after it was sold, according to CoreLogic.
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One of a complex of four, it is located opposite the convenient Morris Place shopping centre.
It's within walking distance of public transport, schools, parks, restaurants and entertainment.
The home was listed as a rental as recently as April 2018 seeking $400 per week, down from the $450 per week it sought in July 2017 and $470 per week it was asking for in April 2017.
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The median sale price for a home in <a href="/developments/innaloo-wa-6018">Innaloo</a> is $545,000, according to CoreLogic, which calculate the annual change in median price over the past 10 years as -0.4%.
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Innaloo, WA mortgagee home sold for $95,000 loss

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A Margaret River, WA mortgagee has been listed for $265,000.
The unit was listed for $312,500 when it was first put on the market in September 2018.
The asking price has been reduced five times to where it is now.
Megan Booth of First National is currently marketing the property.
Situated at 9/7 Honeyeater Loop, the abode comprises a two bedroom, one bathroom townhouse with a double carport.
Set on 192 square metres, the two storey holding features solar passive design, 220 gallon rainwater tank and a number of modern features.
It was listed as a rental in 2009 seeking $295 per week and now in 2019 seeking $320 per week.
The property last sold for $361,000 in 2008.
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The median sale price for an apartment in <a href="/developments/margaret-river-wa-6285">Margaret River</a> is $444,000, according to the latest CoreLogic data.
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Margaret River mortgagee listing drops asking price for the fifth time 

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A Burnside, South Australia mortgagee home has been sold for $1,175,000.
The four bedroom three bathroom house remained on market for 869 days.
It was originally listed for $2.1 million - $2.3 million in January 2017.
Julianne Sheffield of Sheffield Real Estate marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-burnside-129915102" target="_blank">709 Greenhill Road</a>, the abode holds views over the hills, the plains, the city and the sea.
Set on 1,346 square metres, the split level floor plan offers multiple living areas and a parents retreat.
The 2013 built home also features a swimming pool.
The holding last sold for $442,500 in 2007 when a different house was present on the lot. 
Following the 2007 sale the home spent almost 1500 days on the market before it was knocked down and reconstructed in 2013.
The home has been unsuccessful at auction twice over the duration of the latest campaign.
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The median sale price for an apartment in <a href="/developments/burnside-sa-5066">Burnside, SA</a> is $960,000, according to the latest CoreLogic data.
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Burnside, SA mortgagee home sells after $1.15 million asking price reduction

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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

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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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