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Queensland residential developer Villa World has agreed to be taken over by private equity-backed Avid Property.
Avid have offered a cash offer price of $2.34 per share in its revised proposal.
Born out of Investa Land, Avid Property Group is a diversified Australian property development business with a $3 billion portfolio of residential, industrial and commercial projects.
The board of directors of Villa World unanimously recommend that its shareholders vote in favour.
The $2.34 per share represented a 17.8% premium to the Villa World closing share price of $1.99 on 14 March 2019.
Since 1986, Villa World has created over 19,000 properties across Australia with more than 45,000 Australians calling a Villa World address their home.
The company has been operating as a listed entity for over 30 years.
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j.ballantyne1990-6AQqhLzZaK

Avid Property to take over Villa World

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The Sydney property developer, Daniel Hausman pleaded guilty today to extorting around $5 million from the accused conspirators of the alleged Plutus tax fraud. 
Hausman entered a guilty plea to charges of blackmail and dealing with proceeds of crime at Sydney's local court before Magistrate Atkinson.
The Australian Financial Review reported four of his earlier charges were dropped.
The accused conspirators allegedly paid the money, as well as an additional $19 million, in return for the promise that the media and authorities would not be notified.
Hausman, who was not charged with tax fraud, had <a href="/news/woollahra-home-of-alleged-plutus-scammer-daniel-hausman-listed">his Woollahra abode (above) listed</a> for weekend auction when it was <a href="/news/woollahra-home-of-alleged-plutus-scammer-daniel-hausman-passed-in">passed in</a>.
He told The Australian Financial Review he had been assisting the AFP for the last two years in recovery of money.
Accused Plutus mastermind Adam Cranston was also at the court seeking changes to his bail conditions.
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Property developer Daniel Hausman pleads guilty to extorting the alleged Plutus tax fraud conspirators 

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GUEST OBSERVATION
Swift action by the Commonwealth Government on a suite of policy initiatives can position Australia’s cities, economy and housing markets for sustained prosperity.
Urban Development Institute of Australia (UDIA) has released a post-election action plan entitled Building A Better Australia that outlines six policy priorities across population, cities, infrastructure, housing, tax and regulation.
The plan presents a blueprint for policy priorities that can enhance the global competitiveness of Australian cities.
There is clear goodwill towards a government re-elected through the prism of its pro-growth and aspirational agenda.
The optimism they are generating is giving hope to everyone interested in a robust economy and recovery in housing construction, which are directly linked.
We are also witnessing improved access to housing finance, courtesy of the Australian Prudential Regulation Authority’s (APRA) intention to ease interest rate loan assessment levels for Banks and the Reserve Bank of Australia (RBA) and policies like the promised scheme to close the deposit gap.
There is now a real window in which we can seize the momentum and press on with policies that will boost the productivity, liveability and affordability of our cities.
The six-point plan promotes six ideas to cement the benefits of reform:
<ol>
<li>Entrench the emerging new policy framework to get population settings right</li>
<li>Create a Bi-Partisan Infrastructure Accord to deliver long term certainty in planning and delivery</li>
<li>Audit the current infrastructure pipeline to assess opportunities for better alignment of infrastructure planning and land release</li>
<li>Properly design and fund the new mandate on housing supply, demand and affordability</li>
<li>Identify short, medium and long-term steps to reform and strip back taxes on new housing</li>
<li>Commence a review of environmental planning practices.</li>
</ol>
UDIA National will be moving quickly to engage with the re-elected Government, as well as the Opposition, to promote the policy platform.
UDIA National has already commenced initial briefings with the Government – having already met the Minister for Population, Cities and Urban Infrastructure, The Hon Alan Tudge MP, last week.
The Urban Development Institute of Australia (UDIA) is the peak body representing the property development industry throughout Australia.
The Institute is a not-for-profit industry body dedicated to the representation of Australia's development industry.
Our members cover a wide range of specialist and industry fields, including: developers, valuers, planners, engineers, architects, marketers, researchers, project managers, surveyors, landscape architects, consultants, lawyers, financial institutions, state and local government authorities, and product suppliers.
The priorities we’re promoting have a dual benefit – giving a kickstart to housing construction in the short-term, as well as entrenching ideas that have a long-term, linked and lasting dividend.
Population policy and analysis can inform the choices we make about the design and infrastructure of our cities, as well as long-term land use strategies to deliver housing supply and diversity.
We also need to recognise that reforms to the taxation and regulatory burdens placed on housing construction take time to entrench, so triggering the start of changes now makes sense.
A full copy of UDIA's Building A Better Australia is available via the <a href="http://www.udia.com.au/news/national-policy-priorities" target="_blank">UDIA website</a>.
CONNIE KIRK is the UDIA National Executive Director
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UDIA shares six point plan for the Australian Government: Connie Kirk

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GUEST OBSERVATION 
Here’s a glimpse at what’s happening—and why—in the Australian commercial real estate market from the measurement perspective of asking price for rents. There are many experts who give advice on how to understand the current trends in commercial real estate.
Whether you’re planning to buy, sell or lease, these expert opinions are worth noting.
Experts focus on “prime”
Most of the published information about commercial real estate relates to the highly visible “prime” end of the market. Sometimes this can give a distorted view of the whole market.
We, at <a href="https://www.commercialpropertyguide.com.au/" target="_blank">Commercial Property Guide</a> reveal the data associated with the less examined small and medium size market. The value of commercial real estate is closely tied to the rent a property can command. This is much more relevant for commercial than residential real estate. A study of what landlords are asking for commercial rents over time can give an insight into the likely future.
<img src="https://www.urban.com.au/images/2019/7/9/CPG%201.JPG" alt="">
National Market Overview 
The Australian market is made up of a relatively small number of significant markets. The three major markets are Melbourne, Sydney and Brisbane which account for the lion’s share of the national commercial real estate industry. These metropolitan markets respond and react to many local events.
There are, however, national and international themes that can be seen to have a bigger influence on how they perform. Rarely do the three big metropolitan markets act in unison. Commercial real estate has been experiencing a cycle that has lasted 3 years between lows.
The national asking rent increases peaked in early 2017 at very high levels and have been trending down ever since. Exceptionally glum periods were at the end of 2018 and the time prior to the national election when rent increases dropped below zero. Sydney has had a number of peaks and troughs in the past few years.
These cycles have been about 10 to 14 months from peak to peak. While Sydney commercial real estate rent increases sailed through previous national elections unfazed, this time was different. Sydney office rents have risen since the election.
Melbourne and Brisbane are not synchronised with Sydney. Melbourne rent increases were in a slow and graceful decline. However there has been an upswing in lease prices since the middle of 2018. While Brisbane rents have managed only increases of 1% every three months at best.
Office asking rent increases have been in what stockbrokers would call a “trading range” for many years starting in January 2017 with a slow declining cycle peak in each of the three successive cycles.
The explanation could be the rapid surge in coworking office space flooding the lower end of the small office market. You don’t need to be a behavioural economist to know office landlords are hoping for an end to decreasing rents.
At the more granular level there is variation in asking prices for office rents between major cities and even suburbs within the same city. For example, different office rent increases do exist between adjacent Prahran and Cremorne in Melbourne. Retail rents are a much more interesting picture.
The Retail market was going down for quite some time, but since July 2018, retail rents have been continuing to increase. By comparison, the industrial property market has been travelling well and has enjoyed reasonably stable rent growth over the last 5 years.
However, there was a mysterious bout of Christmas fear that started in October and didn’t show signs of improvement until this January. There was a fresh round of Amazon Armageddon about warehouse demand stories that spooked the industrial landlords and their real estate agents.
The fear seems to have evaporated as quickly as it arrived.
 Property Value based on Rent Return
Commercial real estate properties are valued on the basis of the revenue they can generate. The change in rent not only affects what the tenant pays, but also the value of the landlord’s asset.
The consensus of industry experts is that a “tight market” is driving future rent growth for Melbourne and Sydney - caused in part by leasing decisions being brought forward to beat other property seekers to the best available leases. More experts have identified the affordability of the Brisbane market driving its leasing demand.
These opinions are worth considering.
SIMON ROSE is the CEO of <a href="https://www.commercialpropertyguide.com.au/for-sale/" target="_blank">Commercial Property Guide</a> an independent commercial property website that focuses on news, views and tips about commercial property and the industry.
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Accurate commercial property measurements are worth 1000 surveys: Commercial Property Guide

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A private investor has purchased a Toowong property in Brisbane’s inner suburbs for $1.46 million.
Exclusive marketing agent Will Carman of Savills negotiated the deal of the Toowong property, located at 104 Sherwood Road.
Set on 809 sqm, the property has an existing Development Approval in place.
The existing DA allows the property to be developed with a total approved floor area of 1,157 sqm over three storeys.
However, Executive of Commercial Sales Will Carman said the buyer has plans to obtain a new Development Approval to build six town homes over three levels.
Mr Carman said, “This move by the buyer shows the strength that we are seeing within the detached dwelling market, rather than units"
The sales campaign attracted a high level of interest, with 154 interested parties identified, and seven formal offers received.
The property is located approximately 4 km from the Brisbane CBD, close to the thriving local commercial and shopping precincts.
“Toowong is a highly sought after suburb within the Inner West, as it provides great access to retail amenity and the nearby university,” Mr Carman added.
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Savills successfully market Toowong property with development approval

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A medical centre in Glen Waverley has sold for $7.28 million following a successful expressions of interest campaign.   Located at a corner site, Waverley Medical Centre at <a id="LPlnk678473" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe8eh/HF3O3pksMou+fnPAz2N/89mqXJTr69NDWrCLBjqFk7iFYF6pKaoxtpDH+DvH1lmHN0vCKM3ddWVeLvlPis+Ftt2jNJOSxmUxIJDiy4wwgiX77YnMoW4VBz3ihrhDFenXcLRRBQ8=&amp;rh=ff004e4b2f94755f85cb18f7ab4fbfe58e9dbfc1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">242-244 Springvale Road</a> has a 613 sqm building area and a 1,504 sqm land area 
The property was marketed and sold by Ray White Commercial Glen Waverley Managing Director Ryan Trickey and Commercial Sales Agent Ben Ainsworth. 
Mr Trickey said, “there was a huge amount of interest in this property with more than 120 enquiries during the campaign, with 20 per cent coming from interstate and 10 per cent international."   “The asset was snapped up by a private group seeking static investment with future potential and was sold by a family consolidating their assets." “With the redevelopment of the Glen to the tune of $500M, and more than 500 new dwellings coming into the area, there's much to look forward to for both commercial and retail traders,” Mr Trickey added. 
Mr Ainsworth said the location, limited supply of stock and the ongoing growth of Central Glen Waverley as a commercial and entertainment hub, made the asset really appealing.   “The established medical clinic has been operating for over 30 years and offered an initial return of $297,052 p.a. + outgoings + GST, with three per cent annual increases,” he said.
It’s Zoned GRZ8 with Design and Development Overlay allowing for up to four levels or 13.5 metres, subject to council approval.
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Central Glen Waverley medical centre sells for $7.28 million

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A two bedroom Wembley Downs, WA duplex 11 kilometres from the Perth CBD has been listed for $10,000 less than what it sold for in 2008.
In 2008 the property traded for $460,000, however the vendors are only seeking $450,000 plus this time around.
Daniel Caccamo and Rav Kandola of Davey Real Estate have been marketing the listing since May.
Situated at <a href="https://www.realestate.com.au/property-duplex+semi-detached-wa-wembley+downs-131202326" target="_blank">46 Stockdale Crescent</a>, the 1969 built home comprises 75 sqm of internal living space as well as multiple outdoor entertaining areas.
The home features an open-plan designed kitchen, living and dining area, a separate laundry plus a split system air conditioner.
Located within walking distance to several schools, it is only a short drive to the redeveloped Scarborough Beach and Floreat Forum.
The adjacent duplex at 44 Stockdale Crescent last sold for $585,000 in August 2013.
According to the listing, the property has "a motivated seller, this property MUST be sold."
The property has been offered as a rental several times since it's 2008 sale, first in 2012 seeking $460/pw.
It sought an identical amount in 2014, while in 2015 the property was marketed as a rental property with a price point of $385/pw.
Asking prices for the Wembley Downs postcode currently range from $497,000 for all units to $699,300 for 3 bedroom houses.
SQM Research estimate that investors could rent this home for approximately $384 to $470 per week.
<img src="https://www.urban.com.au/images/2019/7/9/Wembley%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, and <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a> and <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a>.
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Bargain property in Wembley Downs? Duplex listed below 2008 sale price

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iProsperity has officially opened the first phase of a strategic co-operation agreement with “KUR-World Ecotourism Resort Center” in the Cairns region of Australia.
The agreement is the latest sign of iProsperity's continued investment in the Australian tourism market.
Regarding the strategic partnership with KUR-World Ecotourism Resort Center, Mr. Michael Gu, CEO and founder said, “the co-operation between iProsperity and KUR-World will focus on the field of luxury experiential accommodation."
"Simultaneously, this investment will be combined with iProsperity’s existing Australian high-yield return hotel portfolio to deal with the changing commercial property environment.” 
KUR-World, a large integrated resort in the Kurunda tropical rainforest of Cairns, Australia, is a low-density eco-tourism resort located on approx 630 hectares.
It integrates the existing tropical rainforest and Australian pastoral natural resources.
The project is planned to be completed by 2025, with the first phase of “KUR Cow” now open. It combines the Australian tropical rainforest and cultural experience within five themed scenic spots. This has resulted in an exciting experience combining a leading “wagyu” culture and outdoor sporting complex area.
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First phase of new tourist investment collaboration KUR-World opens in Australia 

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
<img src="https://www.urban.com.au/images/2019/6/22/East%20Perth%20bargain%202.JPG" alt="">
A one bedroom, one bathroom East Perth apartment has sold for $275,000, some $145,000 less than its $410,000 off the plan sale in 2012.
The apartment at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> in the 2015 built VIBE complex initially sought $315,000 before its asking price was reduced to $299,000.
According to CoreLogic data, the change in East Perth's median price over the past 5 years is -23.7%.
The 2nd floor apartment has parkland views as well as access to a lap pool, BBQ area, modern gym facilities and a roof top theatre with panoramic city views.
Minutes from the CBD, it is within walking distance of Claisebrook Cove, Crown Casino and Optus Stadium
Josh and Sean Roberts of Realmark secured the sale after two months.
The unlucky vendors sought to flip the apartment on its completion, listing it unsuccessfully in 2015 asking offers from $449,000.
It is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
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Bargain property in East Perth? Near new apartment makes $150,000 loss 

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The first glimpses of recovery are emerging in the Australian mortgage market, with an increase in lodgements seen for the first time in a year, according to the latest AFG Index.
Notably their findings showed that, non-major lenders are driving much of the activity, responsible for a record high 42 per cent of lodgements and for the first time accounting for more than one in every three mortgages for first home buyers.
The AFG Index recorded more than $13 billion in lodgements in the three months to June 30, representing a 12 per cent increase on the last quarter. Despite the turnaround in the last quarter, the numbers remain 11 per cent down on the same time last year.
AFG Chief Executive Officer David Bailey said, “there are tentative signs of increased activity with both lodgement numbers and volumes up significantly for the quarter. It will be important to see the impact of recent moves by the RBA but we remain cautiously optimistic."
“It remains relatively subdued out there in Victoria and New South Wales, with both states recording an 11 per cent dip on the same time last year, offset by activity in the smaller states,” he noted.
South Australia was ostensibly flat, whilst Queensland and Western Australia recorded slips of thirteen per cent and seven per cent respectively.
Average mortgage size is at an all-time high of almost $515,000, with South Australia the only state to record a drop to now be sitting at $402,473.
Mr Bailey said “with investor lending up, it is interesting to also note the major banks’ responses to the recent cash rate reductions where investor loan rates have seen larger rate cuts passed on to customers. With those APRA-related restrictions now lifted, this could signal a new battleground for customers.
“After a period of slow growth, Refinancers have lifted to 28 per cent, but this is still a long way from the activity seen in 2016 when they recorded levels as high as 39 per cent. Homeowners looking to Upgrade have dropped back to the same level they were at in the final quarter of 2017,” he said.
AFG found, among the non-majors, Macquarie’s market share grew steadily across the quarter and finished June just shy of 10 per cent. ING has also been regaining ground and finished the quarter at four per cent, after dropping to less than two per cent in March.
While among the majors, CBA increased market share to finish June at 18 per cent and NAB finished a tough quarter to reach seven per cent by the end of June. NAB’s gains appear to be at the expense of the Westpac group of brands with Westpac, Bank SA, Bank of Melbourne and St George all recording a fall in market share.
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Signs of home loan market recovery, non-major market share at record high: AFG

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Staff reporter

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