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The property group GPT has sold Norton Plaza, a neighbourhood shopping centre in Sydney's Leichhardt.
It sold to a private local investor for $153.2 million.
Norton Plaza comprises 11,800 square metres with a Coles supermarket and 50 retailers.
It also includes a large-format Harris Farm Market.
Nine Entertainment speculated the deal was struck on a core cap rate of 5.5% with the asset selling above its book value.
The Australian Financial Review had advised the move to offload Norton Plaza was part of the wholesale fund’s broader effort of focusing its portfolio on super-regional malls as a bulwark against headwinds in the retail sector.
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GPT sells Norton Plaza for $153 million

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Internationally-renowned architect, Glenn Murcutt has been commissioned by 95-year-old Australian charity Royal Far West, to design the approved masterplan for its beachfront headquarters at Manly. 
Mr Murcutt (pictured left) will work closely with accomplished architect and designer, Angelo Candalepas (pictured middle) of Candalepas Associates, to create a campus for Royal Far West, to allow the charity to grow its work for country kids in need and future-proof its service for the next 100 years.
RFW CEO, Lindsay Cane AM (pictured right) says “Our vision is to deliver a beautifully integrated health and wellbeing “campus” that is inclusive, open and innovative – one that draws different people and local businesses together as a community to support our work of bringing vulnerable country kids to the beach to receive specialist health services while enjoying the warm hospitality of the local community.
“We chose to partner with Glenn and Angelo as they represent iconic, accomplished architectural talent for an iconic site – not only are they globally acclaimed, but Glenn, as a former local, intimately knows the micro-climate, light and landscape of Manly."
Mr Murcutt said he was excited to partner with RFW on their joint vision for the transformation of the site.
“Having grown up in Clontarf and attended the former Manly Boys High School, I’ve been well aware of the great service provided by RFW over many decades and have recently seen the challenges they face with their growing service demand,” he explained. 
“By opening up the site, Angelo and I intend to deliver on RFW’s inspired vision of a wellbeing campus that will not only help secure RFW’s future in a highly responsible way, but also allow the charity to grow and help more and more country children. 
“We are also aligned with RFW in that we see this commission as a once-in-a-lifetime opportunity to give back to Manly by supporting local jobs and existing businesses and improving the Manly visitation experience. By rejuvenating the southern portion of this site, we intend to unlock its great potential.”
Murcutt is the visionary behind a portfolio of landmark projects, including the Arthur and Yvonne Boyd Education Centre (in collaboration with Wendy Lewin and Reginald Lark), Australian Islamic Centre, Australian Islamic Mission Mosque (in collaboration with Hakan Elevli), and most recently the MPavilion (with assistance from Jonathan Temple), which is to be installed in Melbourne's Queen Victoria Gardens this summer.
Candalepas’ long history of awards includes the Australian Institute of Architects (AIA) Sulman Medal for Public Architecture in 2009 and 2018, the Frederick Romberg National Architecture Award in 2011, the Seidler Award for Commercial Architecture in 2016 and the Aaron M Bolot Award for Residential Architecture four times. In 2016 he was also awarded the Premier’s Award for Architecture in NSW.
When asked for clues regarding their design for the campus, Mr Candalepas advised:
“We feel a deep responsibility for RFW and Manly and their shared history, and this site, this client and this brief are all incredible – Glenn and I are both nervous and excited about the possibilities latent in this context.
“Architecture is only ever able to be created in context and through a deep understanding of history, and this collaboration can be imagined as something able to produce extraordinary outcomes, but there is a need for a reticence in the approach, a need for a quietness and a deeper need for understanding essential parts of the landscape.” 
Ms Cane also explained the importance of the project to RFW.
“We have a unique understanding of the often-harsh realities of country life, where the growing prevalence of behavioural, mental health, speech and language challenges, coupled with a gross inequity of services between city and country, is driving the unrelenting demand for our services,” she said.
 “RFW is expanding rapidly in an effort to meet the rising challenge of country kids in need – in the last 10 years we have grown ten-fold in terms of the numbers of people we have supported.
“In the next 10 years we will have a greater challenge again – in addition to expanding our footprint we’ll also be investigating ways the campus can provide co-locating opportunities for organisations aligned with our values as well as residential, retail and commercial opportunities that will safeguard the charity’s future for the next 100 years.
 
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Architect's Glenn Murcutt's vision for Royal Far West’s new Manly campus

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Malaga Markets, a Perth institution since 1994 with its fruit and veg stalls and international food hall, has hit the market.
It has a price guide of $11.99 million.   The property at 7 Bonner Drive in Malaga comes with 2,900sqm of building area and a 2,256sqm net leasable area.
On Beach Road and just off of Alexander Road, it also provides external car parking of around 375 bays.    The property is being marketed and sold by Ray White Commercial (WA) Property Advisor Brett Wilkins.   Mr Wilkins said Malaga Markets has over 1.5 million visitors annually. 
“Malaga Markets is a purpose-built variety market with 65 tenancies, a strong trading history since 1994, and is on a prime site. “The central core of the markets is the food court and fresh food tenancies backed by the bar and daily entertainment," Mr Wilkins 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/2019/8/7/malaga%20markets%202.jpg" alt=""> The houses tenants have occupied their tenancies for 15 years or more with an average of 7.1 years.   “Malaga is an inner northern suburb of Perth centered on showrooms and commercial strips.
“The total site area is 18,208sqm with wide frontages to Bonner Drive and Beach Road, together with cross easement access from adjoining sites.”  
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Perth’s Malaga Markets hits the market

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The PwC-audited listed rural property trust, Rural Funds Group saw its shares plunge nearly 50 percent today.
The $335 million wipeout in just under the first 30 minutes of trade came after it was targeted in a report by the US-based short-seller Bonitas Research.
The rural company now has a market capitalisation of $455 million, compared to total declared assets of $802 million and net assets of $532 million.
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Bonitas's previous damaging report was on Blue Sky Alternative Investments last year. 
"Evidence suggests that RFF’s reported profitability had included $28+ million of fabricated rental income paid to RFF by its two largest third-party lessees," the report posted on the Bonitas web site suggested.
The Texan group claimed the "fabricated" rental income of $28 million was by RFF's two largest third-party lessees, almond producers Select Harvests (ASX: SHV) and Olam Orchards.
RFF immediately moved into an ASX trading halt to later update its ASX-listed real estate investment trust unit holders.
Late afternoon Rural Funds Management managing director David Bryant hit back at the negative report.
Bryant said Rural Funds had contacted ASIC on Tuesday morning to “invite them to take a look at all our records."
It is also looking for another accounting firm to examine its accounts. 
Bryant said the A-REIT's accounts are "100 percent accurate."
RFG owns more than $900 million worth of agricultural assets including almond and macadamia orchards, vineyards, water rights and cattle farms.
It is managed by the privately owned Rural Funds Management Ltd.
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The short-seller calculated that RFF had overstated its net assets by 100 percent.
It suggested the company's true net assets figure was $268 million as of December 31, 2018 which would put RFF in breach of its minimum $400 million net asset loan covenant.
"And as we have laid out in this report, we believe nearly 100 per cent of RFF’s reported profits since FY’17 are attributable to either fabricated rental income or non-cash gains from dubious fair value changes applied to RFF’s assets," it said.
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The stock had dropped 99c to $1.36 in its early trade, with its resumption in. trading set for this Thursday.
The company completed a $149 million capital raising in July last year.
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It was last in the headlines when the rural property trust bought Cobungra Station (pictured) for $35 million earlier this year.
Cobungra Station – one of Victoria's largest and most prestigious high-country beef breeding enterprises – was sold for only the third time in 100 years.
The $35 million deal secured the 6486-hectare alpine beef property at the foot of Mount Hotham, plus more than 24,000 hectares of adjacent grazing licences.
 
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Rural Funds Group under attack from Bonitas Research short selling hit

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Kaufland, the German supermarket chain, is applying to open a 'Hypermarket', one of its first Australian stores, in Toowoomba.
The Toowoomba Chronicle reported that the company submitted a DA to the Toowoomba Regional Council last Friday.
The proposed site for the Hypermarket, which is just a supermarket by another name, is 353-359 Anzac Avenue.
It will be located on the corner of Anzac Avenue and Carrel Drive at Harristown next to Bunnings Warehouse.
Kaufland is a subsidiary of the Schwarz Group, the world's fourth largest retailer and plans to open its first Australian store in 2021, with around a 12 locations planned around the country.
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It has previously secured store locations in South Australia and Victoria.
In Melbourne local businesses protested the development applications filed by the company.
The application is described as a “shopping centre hotel and food and drink outlet”.
It already has more than 1,200 locations in Europe.
Kaufland is known as a key rival for Aldi overseas, driving speculation its launch in Australia will be bad news for the German chain, which controls just over 10% of the local grocery market.
Initial estimates of Kaufland’s likely impact on Australia’s $103 billion supermarket industry suggest the retailer could amass $480 million in local revenue, according to Morgan Stanley analysts<a href="https://www.smartcompany.com.au/industries/retail/make-fortune-dick-smith-warns-kaufland-giant-injects-another-60-million-expansion/" target="_blank" rel="noopener"> </a>
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German supermarket chain Kaufland set to break into Toowoomba

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Property values are set to rise by August 2020 across the nation, according to Finder, Australia’s most visited comparison site.  
In the latest <a href="https://www.finder.com.au/" target="_blank">Finder</a> RBA Cash Rate Survey™ experts and economists gave their forecasts on 12-month change of property prices in Australia’s capital cities.
The experts, on average, now anticipate the property market will be on the way up over the next year.
Graham Cooke, insights manager at Finder, said it’s too soon to tell if this is an emerging recovery in the housing market or merely a ‘dead-cat bounce’.
“Most economists surveyed foresee small levels of growth across the board, but a few tipped prices to tumble, especially in Sydney and Melbourne where one expert predicted a 7% drop."
“Whether you see this as a falling feline or the beginning of a true rebound, it’s clear that the full effects of the RBA’s recent cuts have yet to play out."
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%203.JPG" alt="">
“However, after one of the strongest weekend clearance rates in Sydney in recent months (71%), there is definitely a detectable pulse,” Cooke said.
Canberra came out on top with a 2.27% predicted growth on average, followed by Hobart (2.19%) and Brisbane (1.81%). Cooke said those considering getting on the property ladder need to get their ducks in a row. “Prospective first time buyers should look at arranging <a id="LPlnk812745" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=5f88598f50&amp;e=f2176dbcf8" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">pre-approval</a> for finance soon if they want to take advantage of low rates before prices increase.” With rates at an all-time low, the Reserve Bank of Australia (RBA) held the cash rate at 1.00% for the first time in three months.  Nearly all (96%, 44/46) experts surveyed predicted the hold, although up to two more cuts are likely by the end of the year. 
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%204.JPG" alt="">
Cooke said people might be missing a trick by not considering a fixed-rate loan. “We’ve seen a lot of very low fixed-rate offers hitting the market of late, some as low as 2.79%. " “Fixed rates may be well worth considering – as we’ve never seen rates this low – but the best path may be a <a id="LPlnk383356" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=aaf3510eb8&amp;e=f2176dbcf8" target="_blank" data-auth="NotApplicable">split loan</a>." “Think of this as the best of both worlds: if rates drop you get some of the benefits and if they increase you only get part of the pain." “Even if you’ve been on a variable loan for five years, it’s not too early to refinance with rates at a record low,” Cooke concluded.
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%205.JPG" alt="">
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Experts tip property prices to rise in every capital city: Finder

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EXPERT OBSERVATION
The Reserve Bank of Australia (RBA) has made the decision to leave the nation’s official cash rate unchanged at 1.00%.
The Reserve Bank’s decision to hold the cash rate steady this month was prudent. A third cut so soon after two consecutive cuts in June and July would not have given policy makers enough time to see if the cuts had any marked effect on the economy.
The latest economic data has provided the Reserve Bank with no incentive to reduce the cash rate three times in as many months, encouraging the Bank to continue its historically cautious approach towards monetary policy.
In encouraging news for the housing market, the latest CoreLogic Hedonic Home Value Index revealed that national dwelling values stabilised in July as five of the eight capital cities recorded a rise, supported by a 0.2% increase in values in both Sydney and Melbourne.
It seems that two consecutive cuts to the cash rate, and tax relief from the Government were not enough to improve consumer outlook. The Westpac Melbourne Institute of Consumer Sentiment revealed that consumer sentiment deteriorated in July, as concerns over the economy continue to weigh heavily on sentiment. On a positive note, the index revealed that housing-related sentiment improved in response to lower interest rates.
The latest monthly business survey from the National Australia Bank revealed that business confidence fell over June and while business conditions rose, they remain well below average. The survey also revealed that outlook for business conditions over the next few months is weak, which may put further downward pressure on the labour market going forward.
In the minutes of its July Board meeting, RBA board members suggested they continue to track developments in the labour market. Members agreed that the Australian economy could sustain a lower rate of unemployment, while achieving inflation consistent with the target.
Given that the unemployment rate remained steady at 5.2% in the ABS’ most recent Labour Force Survey, the RBA may not have felt another cut was necessary at this time. That being said, the inflation rate came in under the RBA’s expectations once more, with June quarter figures revealing a CPI quarterly percentage change of 0.6% and a year ended percentage change of 1.6%, well below the RBA’s target range of 2-3%. While financial markets are expecting another 25 basis point cut this year, the important thing for borrowers and future borrowers alike to keep in mind is that interest rates are currently sitting at historic lows. I would encourage anyone thinking of buying a home or investment property to speak to their local Mortgage Choice mortgage broker to learn what their borrowing power is and what home loan options are available to them. Mortgage Choice brokers can assess your financial situation, and help you get home buying ready. With access to a panel of over 25 lenders, with varied lending policies and preferences, we can help borrowers get the most suitable deal for their circumstances, whatever the cash rate.
SUSAN MITCHELL is the Mortgage Choice CEO
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RBA hits pause in August: Mortgage Choice's Susan Mitchell

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The Victorian Government program tackling high-risk cladding has appointed Dan O’Brien as its chief executive.
Cladding Safety Victoria (CSV) was established by the Labor Government to oversee a $600 million program of rectification works on hundreds of buildings across Victoria found to have high-risk cladding.
O’Brien will lead the agency as it manages the funding and works with owners corporations from start to finish to make sure buildings are safe and compliant with all regulations.
The establishment of a dedicated cladding agency was a key recommendation of the Victorian Cladding Taskforce, which has worked with the Victorian Building Authority (VBA) to conduct a global cladding audit of buildings.
O’Brien has experience in the public and private sector, most recently as Chief Executive of Incolink – delivering services to Victoria’s building and construction industry.
He’s also held executive roles at the National Australia Bank and Medibank Private, and senior roles in both the Victorian and Federal governments – including Chief Executive of Regional Development Victoria and Deputy Secretary of the Department of Regional Development, Arts and Sports (Federal).
He was also Chief of Staff to former Victorian Premier John Brumby and is currently a Director of VicTrack and the Brodies Law Foundation.
O’Brien will report to Victorian Building Association Chairman Dr Owen Donald when he starts in the role this month.
The Victorian Government is also set to introduce new design standards for the outside of apartment buildings, to ensure new developments are built to a "high-quality, and improve the look and feel of local neighbourhoods".
In 2017, the Labor Government introduced the Building Better Apartment design standards to ensure apartments have adequate daylight, storage, ventilation, acoustic performance, energy and waste efficiency.
The proposed changes will affect landscaping, external walls, vehicle access, site servicing, wind effects and the management of building construction impacts.
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Victorian Government appoints cladding safety CEO and proposes new apartment designs

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Ayre Real Estate has announced that Torch Property Management has joined the brand under a strategic collaboration, with the Torch business rebranding to Ayre Real Estate.
The combined business will feature two office locations; the existing Ayre Real Estate office located at the Sheraton on the Park, 161 Elizabeth Street, Sydney, and Torch’s shopfront at 9 Argyle Place, Millers Point.
Ayre Real Estate founder Adrian Wilson says the combined power of our 68 plus years of prestige property experience, coupled with the benefit of two offices in key locations and our advanced marketing strategies, was a significant competitive advantage.
The partnership will service a portfolio of over $400,000,000 in assets with over 200 luxury rentals under management.
Launching a portfolio of prestige apartment sales, the first on the market is a penthouse apartment; 731/8 Point Street Pyrmont, for auction on 21st August with a price guide of $5.3 million.
It has a one bedroom apartment in Observatory Tower 2406/168 Kent Street Sydney, listed for sale at $1,575,000.
Craig Donohue, a CBD Agent previously at McGrath joins the leadership team as a Director, alongside Kate Sommervelle, Director and Licensee of Millers Point office, and Adrian Wilson, Founder and Director of Ayre Real Estate.
In addition, Georgia Peters, one of Sydney’s most experienced property managers, also joins the team as Senior Property Manager.
The team at Torch seek premium prices for luxury rentals regularly leasing properties between $2000–$5000 per week, up to $25,000 per week.
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Torch Property Management joins forces with Ayre Real Estate

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EXPERT OBSERVATION
Last week I travelled around a few cities and caught up with the directors from some of Australia's top Chinese developers and institutional investors.
Here is what I found:
<ol>
<li>Together these institutions invested over $1.75 billion AUD in residential development sites in the last FY;</li>
<li>In this FY, another $2.5-$3 billion is expected to be poured in;</li>
<li>Since 2017, most of Australia's Chinese developers are moving away from high density development (e.g. apartments) to low density (house and land in particular);</li>
<li>Institutional investors are looking for high-yield (8% or more) commercial properties occupied by major businesses or government tenants;</li>
<li>Half of Chinese developers in Australia are backed by banks in China (which are mostly state-owned);</li>
<li>None of them wants to be involved in Australian politics or donate anything to any political party;</li>
<li>Most of them prefer land without a permit because of cost and their willingness to be involved in every step of designs;</li>
</ol>
What's interesting, is that all of the top Chinese developers and institutional investors believe the property market is already bouncing back.
What caught their attention from GiFang.com is how we handle data - both property data and Chinese user data.
As the world's only Chinese property platform with both website and Android/iOS app that focus 100% on Australian real estate, we can track things like the percentage of Chinese users that looked at the listings, state by state.
By the way, this is what we found in July:
VIC: 29.4% of our users viewed properties in VIC
NSW: 27.9%
QLD: 21.0%
WA: 9.9% (fastest growing)
SA: 7.3%
TAS: 4.5%
ACT: 0% (no property on GiFang)
NT: 0% (no property on GiFang)
In total there are over 1.03 million visits in July, about 40% are from AU &amp; NZ.
Michael Yang 杨霄羽 is CEO of <a href="http://www.gifang.com" target="_blank">GiFang</a>. 
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Seven facts about Australia's wealthy Chinese investors: Michael Yang

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" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

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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