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A Melbourne two bedroom apartment has been sold for $580,000 by mortgagees.
John Silburn marketed the property.
The apartment at<a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-130740178" target="_blank"> 603/325 Collins Street</a> comprises open plan living and dining, modern kitchen and two bedrooms.
With 93 sqm of internal space, the home was originally listed for $630,000 when the home first came to market in March 2019.
Located in the popular The Mark complex, other features of the apartment include central heating and cooling, on site building manager and two secure lock up storage rooms.
The apartment is only moments from Melbourne’s premier shops and restaurants.
Last sold in 1999, the property traded for $288,912.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/Subscriber%20strip%20ad.jpg" alt="">
The median sale price for a unit in <a href="/developments/melbourne-vic">Melbourne</a> is $590,000, according to CoreLogic data.
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j.ballantyne1990-6AQqhLzZaK

Melbourne mortgagee apartment listing slashed $50,000 and sold

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Alfasi Property has appointed Kane Constructions as the builder to undertake the construction of its project in Cremorne, NSW. 
Works commenced in July on the new technology-focused commercial development at 510 Church Street.
On completion in mid-2021, 510 Church Street will deliver an additional 18,559 square metres of A-Grade office space with large and flexible floorplates. 
The building will be a technology-enabled smart building.
Electric vehicle charging stations, fast and reliable WI-FI connectivity, safety and security access controls using smartphones, smart lighting and smart metering are among the features. 
<img src="https://www.urban.com.au/images/2019/9/4/510%20Church%20St%20construction%203.jpeg" alt="">
A range of cafes, restaurants and shops all within walking distance from the building.
Trains and trams making access easy from any part of Melbourne. 
510 Church Street will deliver 18,559 square metres of office space across nine levels, with a further 1,848 square metre outdoor terrace area, situated on a 3,058 square metre site. 
“Our floors range from 1,758 square metres to 2628 square metres, with outdoor terraces on every second level and four street frontages allowing for an abundance of natural light,” Gill Dvir, Managing Director at Alfasi Property said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/4/510%20Church%20St%20construction.jpg" alt="">
Basement car parking for 147 vehicles, end-of-trip facilities, a rooftop terrace and a smart building app will further enhance the building, which is targeting 5-Star Green Star and 4.5-Star NABERS ratings, Dvir said. 
Alfasi Property has appointed Colliers International’s Rob Joyes and Travis Myerscough and Cushman and Wakefield’s Ben McKendry and Ben Ward on the leasing campaign.  
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Alfasi Property appoints Kane to Cremorne commercial building construction 

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A ground floor retail investment in Ascot Vale, Victoria has been sold for $935,000 to a local investor. 
The 131 square metre property at 202 Union Road, Ascot Vale has been leased to Flemington Financial Services Ltd T/A Bendigo Bank.
It returns $45,395 per annum plus GST on a four plus four year lease term, equating to a yield of 4.86% and building rate of $7,137 per square metre.
The property features an open plan reception/office layout, two partitioned offices, ducted heating and cooling, staff amenities and kitchenette.
It was sold by Craig McKellar of CVA.
It has 6 metre frontage to Union Road and rear access via The Parade.
Union Road is located under 5 kilometres from Melbourne CBD and is supported by an array of retail shops, cafes, restaurants and offices and is serviced by tram.
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Ascot Vale ground floor retail investment sold for $935,000 

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A north-east facing home perched high above Coogee Beach's southern headland has hit the market.
It has been listed for sale with $5,375,000 hopes by Warren Ginsberg and Adam Reichman from Ray White Double Bay.
Set over a 300 square metre allotment, the new penthouse at 239 Oberon Street features high end finishes and expansive design. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/4/coogee%202.jpg" alt="">
It comprises three bedrooms, open living/dining, Marble island kitchen, two Carra marble bathrooms and four secure parking. 
Other highlights of the penthouse include direct security lift access, ducted air-conditioning, designer lighting and video intercom.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/4/coogee%203.jpg" alt="">
It is one of only three apartments in the Pinnacle Oberon building.
The building is located just a stroll from Wylie's baths, Coogee beach, cafes and coastal walks. 
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New Coogee penthouse with ocean views hits the market 

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Tom Forrest has been announced by The Urban Taskforce as its incoming Chief Executive Officer (CEO).
Forrest will formally start in the role on 11 November 2019, succeeding longstanding CEO Chris Johnson.
Johnson will retire after eight years at the helm.
Peter Daly, Chair of the Urban Taskforce, said Forrest has a proven track record as a public policy expert and solutions-focused industry advisor, with specific expertise in planning and urban development matters.
"On behalf of the Urban Taskforce Executive Committee and membership, I congratulate Tom on his appointment and look forward to his commencement in the role," Daly said.
"Tom comes to the organisation with a wealth of public and private sector planning and policymaking experience, and an intimate grasp of how to shape balanced policy outcomes that support sensible and sustainable urban growth.
"He was a trusted advisor to various NSW Ministers (Premier, Treasurer, Planning, Health and Olympics) before joining the senior ranks of the public service in the key Department of Premier and Cabinet and Transport portfolios. More recently, Tom assisted private sector clients, including commercial and residential developers, navigate often complex regulatory landscapes.
"The development industry is currently facing a range of public policy and perception challenges, and its role as a key driver of economic growth has, in recent times, been diminished. We believe Tom has the right background, experience and energy to advocate strongly and effectively for the industry in an increasingly complicated space."
Forrest said he was delighted to take on this leading advocacy role at a time when the NSW and Australian economies need a consensus approach to housing supply.
"Developers deliver not only our housing supply, but also economic multipliers for the community in the form of hundreds of thousands of jobs, and taxes that support the growth of cities and economies. This needs to be more prominently acknowledged," Forrest said.
"A strong and consistent supply of quality new housing and apartments will deliver improvements in residential amenity, sustainability through smart design and technology, and housing affordability.
"The key challenge is to work co-operatively with Government and community stakeholders towards a constructive approach to enabling this growth, in a way that complements recent substantial investments in public transport and roads infrastructure,” Forrest said.
Forrest said he takes on the role with a strong desire for an evidence-based policy approach to housing supply and development.
The Urban Taskforce represents the top 100 development companies and equity financiers in Australia and represents the industry on policy formulation, responses to Government policy, the state of the planning system and the impact of the taxation regime on the future housing and apartment supply for Sydney.
Daly acknowledged the contribution Johnson has made as CEO of the Urban Taskforce since 2011.
“Chris has been an excellent and prominent advocate for our members and has led the organisation with distinction. We look forward to him remaining a friend and supporter of the Urban Taskforce well into the future.’
Forrest and Johnson will work together as part of a CEO transition process starting 11 November as the handover date.
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Urban Taskforce announces Tom Forrest as new CEO

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An aged care developer has snapped up a 11,981 square metre landholding in the Melbourne bayside suburb of Highett for $28.5 million.  
The permit-approved site at 32-40 Graham Street has plans for a retirement village for 90 residential apartments, a 122 bed aged care facility and 15 assisted living units together with communal facilities. 
It was sold by Savills agents Julian Heatherich, Benson Zhou and Jesse Radisich. 
Heatherich said the site sold for around $20,000,000 and, with the added value of the permit, has benefited on the revenue opportunities associated with the $20 billion-a-year residential aged care industry.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/2/Highett%20Development%20medium%20.jpg" alt="">
“The Bayside area is one of Melbourne’s most highly sought inner suburban locations due to its abundance of lifestyle amenity, thriving café and culinary culture and public transportation links,” said Heatherich. 
“The site is only 16 kilometres from the Melbourne CBD.
“The sale also indicates a continuing upward trend we’re seeing in aged care developments, particularly in Inner Melbourne and the Mornington Peninsula.” 
The sale to Ryman follows another recent off-market acquisition to Ryman in Ringwood, also transacted by Savills.
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Aged care developer buys Highett site for $28.5 million 

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The board of Sydney Fish Market has welcomed its new chief executive officer.
Greg Dyer, is succeeding Bryan Skepper, the general manager of Sydney Fish Market, who retires in September following four decades with the organisation. 
Sydney Fish Market Chairman, Grahame Turk said: “Greg has a strong commercial background, with a grounding in property, and has significant experience in leading the change and growth of prominent development precincts. He has held successful senior roles in high profile private and public enterprises, focusing on leadership, team cultivation, strategy development and community engagement.” 
Greg Dyer said: “My initial focus will be on bringing my commercial background to benefit the operating and business models of Sydney Fish Market.
“As well as leading Sydney Fish Market through a period of change, my priority is to ensure that we build upon the status of being on Sydney visitors’ ‘bucket lists’, a huge drawcard at seasonal moments in the year, and the important role that we play in many Sydneysiders’ lives.”   
Dyer brings to the role extensive experience driving change in large-scale commercial environments, requiring the management of diverse stakeholders.
He was previously CEO of City of Parramatta Council, leading the development of Parramatta as the central city in the GSC’s three city model and successfully instigating the city-defining $2b Parramatta Square urban renewal project. 
There will be a transition period with Skepper, who departs following a 44-year career with the company.
Skepper will be retained by Sydney Fish Market in a part time advisory capacity in the lead up to the redevelopment.  
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New CEO appointed to the helm of Sydney Fish Market

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EXPERT OBSERVATION
Australian GDP rose by 0.5% in the June quarter and annual growth slowed to 1.4%, which was right on market forecasts but below the RBA’s forecasts for a 0.8% rise in the quarter.
GDP growth is very weak and at its lowest level since the Global Financial Crisis (see chart below) which is why there is all the talk of a recession in Australia lately and why conditions in some pockets of the economy may feel recession-like.
<a href="https://www.propertyobserver.com.au/images/2019/9/4/GDP.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/9/4/GDP.png" alt="">
Source: ABS, AMP Capital
The weakness in the Australian economy that started in mid-2018 has continued well into 2019.
The make-up of growth still remains a concern as private demand fell again in the June quarter (by 0.1%) with large increases in public spending and net exports “saving” the economy.
With consumer spending still struggling to lift noticeably, falling residential construction, moderate business investment growth, the private sector side of the economy will likely remain weak.
A softer global environment may also infiltrate further into Australia’s external sector. So the risk of an Australian recession remains and can’t be ignored.
However, this is not our base case partly because we expect more RBA interest rate cuts, possibly quantitative easing, and more fiscal stimulus which should help lift growth.
If the improvement in home prices continues it would also be positive for household wealth and provide some boost to inflation.  
The key components of the June quarter data are:
<ul>
<li>Consumer spending rose by 0.4%, contributing 0.2 percentage points to the June quarter GDP.</li>
</ul>
Consumer spending growth is still declining, with annual growth falling to 1.4%.
The household saving ratio declined to 2.3% (from 3%) after increasing in prior quarters.
While there may be some more downside to consumer spending growth due to the low wages environment, the bottoming in national home prices means that the negative wealth effect is waning.
Tax cuts to low and middle income earners should also have a positive boost to consumption over coming months, although the fall in July retail sales is concerning.
The declining household saving ratio tells us that the buffer for consumer spending is declining.
<ul>
<li>Housing investment continues to decline and detracted 0.2 percentage points from GDP growth.</li>
</ul>
New residential construction fell by 5.9% and alterations and additions were down by 1.4%.
Ownership transfer costs (a proxy for housing turnover activity) improved by 4.3%.
Building approvals continue to fall so there is still further downside to residential construction over the next year.
<ul>
<li>Underlying business investment (which takes into account asset transfers between the private and public sector) fell by 0.4% and made no contribution to growth.</li>
</ul>
Non-residential building was down by 5% and engineering construction dropped by 4.7% but is down 19.6% year on year.
Non-residential building approvals have been mixed over the past few months so there may be some more weakness to come for building activity.
The capital expenditure survey indicated that business investment growth will be positive albeit modest over the next year as mining investment is slowly improving, manufacturing investment is lifting and spending in the services industry is still trending up.
<ul>
<li>Underlying government spending (which takes into account asset transfers between the private and public sector) was up strongly by 1.4% and contributed 0.3 percentage points to growth.</li>
</ul>
Government consumption rose by 2.7% but investment fell by 2.3%. State and Federal government spending on infrastructure has been driving public spending over the past few years.
While the pipeline of projects in construction is peaking, the slow pace of project completions due to delays or other issues means that the peak in government infrastructure spending keeps on being pushed out which is a positive for GDP growth (but maybe not a positive for traffic congestion!).
<ul>
<li>Inventories collapsed and detracted 0.5 percentage points from growth which means that production did not keep up with sales.</li>
</ul>
The inventory to sales is at a record low of 0.581 and is unlikely to fall much further from here which means that inventories are likely to add to GDP in coming quarters.
<ul>
<li>Net exports boomed and contributed 0.6 percentage points to growth.</li>
</ul>
Export growth is solid which is a good sign of demand for goods and services but the collapse in imports (especially in consumption imports) is a bad sign for consumer spending.
<ul>
<li>Productivity growth is still poor with the “GDP per hour worked in the market sector” flat over the June quarter and down by 0.6% over the year.</li>
</ul>
Weakness in productivity growth reconciles the divergence between strong employment growth and weak GDP numbers. 
Implications
While the RBA kept the cash rate unchanged yesterday, despite knowing the weakness in July retail sales and anticipating a low June quarter GDP number, we still expect rate cuts in October and November taking the cash rate to 0.5% as global data remains weak, the unemployment rate increases and global central banks (the ECB and Fed) cut interest rates (and restart asset purchases in Europe) in September which may influence the RBA’s decision to do more monetary stimulus lest the Australian dollar rises.
SHANE OLIVER is Head of Investment Strategy and Chief Economist AMP Capital.
DIANA MOUSINA is an Economist at AMP Capital.  
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RBA to cut the cash rate to 0.5% by the end of the year: Shane Oliver & Diana Mousina 

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Canadian development giant Oxford Properties is set to sell its development stake in Sydney's Barangaroo Central project to Aqualand.
According to the Australian Financial Review, Aqualand has closed a "provisional agreement" with Oxford Properties for an undisclosed sum.
Aqualand are also set to take over construction on the 5.2 hectare site.
Oxford had <a href="/news/canadas-oxford-properties-secures-grocons-barangaroo-central-project-equity">joined the consortium last year</a>, securing the right to Grocon's office development rights in the $2 billion project.
Oxford, led by US-based Hines Real Estate, paid around $100 million to secure the office development rights over which Grocon had control.
It was last November when Grocon was <a href="/news/grocon-aqualand-and-scentre-group-awarded-central-barangaroo-precinct">awarded the conjunctional development rights</a> to the $2 billion Barangaroo Central development.
<div class="cq-article-content-media section">Grocon, led by property scion Daniel Grollo, joined with Scentre, who are overseeing the development of the shopping centre, and Aqualand, in the winning consortium.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Financial pressures continued to press on Grocon who earlier this year sold their final development rights to Aqualand.</div>
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Oxford Properties sells Barangaroo Central to Aqualand

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A real estate company directed by Malcolm Gunning, the former president of the Real Estate Institute of NSW and the Real Estate Institute of Australia, has been convicted over the management of its trust accounts.
The company behind Gunning Real Estate was convicted of not auditing a trust account as required by NSW magistrate Richard Funston.
The company was put on a two-year conditional release order.
It was also ordered to pay $10,000 in professional and legal fees for Fair Trading who took the matter to court on <a href="/news/former-rei-president-malcolm-gunning-faces-court-over-trust-account-irregularities">earlier occasions</a>.
Two further charges against the company, relating to a trust account not being kept in the company’s name and failure to comply with receipt requirements for trust money, were dismissed.
Domain reported prosecutor Ian Fraser told the court that one charge against Mr Gunning himself, for being a licensee who contravened the rule of conduct, was withdrawn.
Fair Trading accuses Mr Gunning of failing to maintain his own agency’s trust accounts amid allegations his wife, Alice Gunning, misappropriated $200,000 over four years.
Court records show that Mrs Gunning, a former director of Guncom, faces five charges.
She is scheduled to appear in court in November.
Defence lawyer Iain Todd said Mr Gunning was unaware of the trust account’s deficits.
Todd argued that all the charges against the company be dismissed due to the reprimand, fine and media coverage earlier this year.
Mr Gunning had quickly rectified the problem when it came to his attention, the court was told.
But the magistrate, noting he was extremely impressed with the action taken by Mr Gunning, felt a conviction must be recorded.
“We all know in real estate … trust accounts are sacred,” he said. “That’s the cornerstone and that has to be acknowledged.”
Mr Gunning was president of the Real Estate Institute of NSW between 2014 to 2016 and president of Real Estate Institute of Australia from December 2016 to late 2018.
He faced Parramatta Local Court on Wednesday, over charges against company Guncom, of which he is now the sole director.
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Court tells Malcolm Gunning that real estate trust accounts are sacred

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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]

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