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.

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Armadale

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Located in the sought-after High Street Armadale retail precinct, ground floor retail space in the forthcoming Chronicle development is available for sale. 
It is listed for sale by Jonathan Hu from Clover Property Group.
<a href="http://www.commercialpropertyguide.com.au/property/286194/sale/948-960-high-street/armadale-vic-3143/retail/" target="_blank">Positioned at 948-960 High Street,</a> it suits a variety of uses including retail, hospitality, office or medical.
The floor area acrosses 184 square metres.
<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/2018/2/28/948-950%20high%20st.jpg" alt="">
Surrounded by retailers including Acne Studio, Scanland Theodore and Aesop, it is marketed as ideal for owner occupation or investment.
Armadale railway station and tram stops are within short distance. 
It is currently under construction with expected completion early 2019.
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j.ballantyne1990-6AQqhLzZaK

Chronicle, Armadale flagship retail offering

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For almost ten years, Melbourne-based Orchard Piper has been developing boutique projects targeted at a very niche owner-occupier market. Working exclusively with Jolson Architecture, their projects are generally comprised of around 10 residences, all with a gross realisation of around $40 million in tightly held inner-ring suburbs.

With the now sustained trend in the property market toward the owner occupier and drop off of international investors, Orchard Piper Director Luke McKie notes that, “if you are not willing to adapt to the demands of the owner occupier, you won’t be able to service this swing in the market."

Orchard Piper's most recent project - Huntingtower Road - is a boutique two-level project of just 10 apartment surrounded by gardens on a 2,000 square metre site on Huntingtower Road, tailored specifically for people considering a move from large homes in Melbourne’s inner eastern suburbs.

Located between High Street and Malvern Road, 35 Huntingtower Road sees Orchard Piper once again engage Melbourne Architect Stephen Jolson, alongside acclaimed horticulturist Myles Baldwin, to the design team to maximise and enhance the project's garden setting.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1729_orchard_piper_ext-hero.jpg" rel="gallery-all" title="Orchard Piper's Huntingtower Road Project sits within a garden designed by Myles Baldwin. Image : Gabriel Saunders"><img alt="" class="image-article-full-width-580px" height="348" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1729_orchard_piper_ext-hero.jpg?itok=mgmsKI3m" title="Orchard Piper's Huntingtower Road Project sits within a garden designed by Myles Baldwin. Image : Gabriel Saunders" width="580"></a>

<figcaption>Orchard Piper's Huntingtower Road Project sits within a garden designed by Myles Baldwin. Image : Gabriel Saunders</figcaption></figure><blockquote>
We entrusted this incredibly rare 2000-square metre site to our highly experienced and talented design team to deliver a project with integrity and substance. They created Huntingtower Road – a property far beyond anything Armadale has seen before in this section of the market.

- Luke McKie, Director, Orchard Piper
</blockquote>

Urban.com.au asked McKie for his thoughts on the shift in the market and how Orchard Piper might be best positioned to respond greater demand for service and customisation

Urban.com.au : Orchard Piper have always had a predisposition towards the higher end of the owner-occupier market and a development model which generally results in a speedy town planning process. What was the key driver behind these decisions?

Luke McKie : The two points you’ve raised are critically linked. When Owner Occupiers are your primary buyer, there’s little compassion for a drawn out planning process causing delays to a project.

Our clients typically want to sell their family home, plan their move and get on with their lives. One of our strengths is our ability to identify and acquire premium addresses that can be developed within the Council's objectives resulting in a much quicker planning outcome.

UM : Are you surprised that there are few other developers taking this approach? Or is it still a very niche market, particularly when considering the locations of previous Orchard Piper developments?

LM : It’s a very time consuming and inefficient process, but highly rewarding for us. The ability to engage with our clients, neighbours and Council regularly allows us to continually evolve and improve our product.

We have a very good understanding of our market and community expectations.

There is an ever growing number of developers in our market space, particularly following the slow down of the overseas / investor buyer. I’ll be curious to see how developers new to the owner-occupier space adjust to the demands of this sector, it’s certainly not straight-forward.

UM : What is an ideal development size for Orchard Piper in terms of number of dwellings and also scale?

LM : Historically between 5 and15 properties per project, but we really have no ideal. So long as our buildings and properties within have a strong sense of identity and clients can maintain the balance of privacy and ownership over the building, we are happy to proceed.

UM : Any observations re: the last 6 months and impact of new stamp duty regulations?

LM : Not directly on us, but in speaking with peers, the effect seems to be dramatic. Most developers I speak with, who were in the “stamp duty sensitive space” say that sales have slowed to a trickle or have stopped completely.

I’m sure there’s a lot of pain out there, but it can take time to filter through in an otherwise strong economy. It will start from financiers looking for loan paybacks, when projects get to that point.

UM : What are your expectations for the year ahead?

LM : A continued focus toward the underlying demand of the local buyer and the ongoing exposure of those with poor fundamentals. If your outlook and business model remain macro and disciplined these bumps will create opportunities in the year ahead.

UM : What are some of the fundamentals of Orchard Piper projects and responding to the demands of owner-occupiers? What does Orchard Piper do differently?

LM : The never ending loop of offering a product to market, listening to feedback and integrating that into your next project; this ensures we’re always in touch with our market. We always work as if we’re developing the property for someone in our own family.

Our design intuition, attention to detail, uncompromising standards and ability to source un-repeatable sites sets us apart. We also maintain a deep respect for our clients and our creative team.

We have a wonderful sense of pride and ownership in our project team which we feel is embodied in our projects and ultimately passed through to our clients in their new home. We are also open to change, which in the property development world, immediately sets us apart.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gabrielsaunders_orchardpiper_apt1-living-courtyard.jpg" rel="gallery-all" title="Apartments within Huntingtower all take advantage of a verdant garden aspect. Image : Gabriel Saunders"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/gabrielsaunders_orchardpiper_apt1-living-courtyard.jpg?itok=XqrVlbKR" title="Apartments within Huntingtower all take advantage of a verdant garden aspect. Image : Gabriel Saunders" width="580"></a>

<figcaption>Apartments within Huntingtower all take advantage of a verdant garden aspect. Image : Gabriel Saunders</figcaption></figure>
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Laurence Dragomir

Orchard Piper's Luke McKie discusses the shift to the owner-occupier market

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The Langer family's GLG Group has paid around $25 million to buy on High Street, Armadale.
It is more than a dozen shops running from 1167-1193 High Street.
It was in an off-market deal believed by Fairfax Media to have been struck on a yield well under 4%.
High Street, Armadale ranks as one of Melbourne's better performing retail strips with the vacancy rate falling to 3.9% in July from 6.4% a year ago, according to Knight Frank.
GLG director Campbell Blennerhassett said the site was bought because it was a "magnificent piece of land in the middle of Armadale".
It may look to refurbish the shops which were sold by a local Goodrich family.
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GLG Group make $25 million High Street, Armadale retail purchase

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Adam Gandel, the 28 year old grandson of billionaire property developer John Gandel, and new wife Amira Jacobson, have spent $4.1 million on a 1900s home in Armadale.
It was a quick flip by former Collingwood forward turned property developer Chris Tarrant and wife Lauren, who paid $2.1 million for the home only last year.
The Toorak based couple transformed the classic solid brick Edwardian known as Wattleglen.
Set on 560 sqm, the home has four bedrooms, three bathrooms, a sitting room and a study.
Glass sliders open from the open plan kitchen living and dining area to a covered bluestone terrace and private garden.
Marshall White agents John Manton and Fiona Ansell-Jones sold the home.
Adam is senior analyst at accounting firm William Buck, having spent a number of years at Deloitte.
Amira is the co-founder at activewear company Talbot Avenue. They wed at the Royal Melbourne Showgrounds earlier this year.
This article first appeared in The Weekend Australian Mansion Australia section.
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Adam Gandel buys 1900s home in Armadale

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A Federation Armadale house sold for $5.1 million placing it among Melbourne’s most expensive weekend auction sales.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-126128618" target="_blank">121 Kooyong Road</a>, the 761 sqm property is a prized Munro Estate landmark.
The four-bedroom Federation-era home saw four bidders compete with the final price was significantly above reserve.
Built in 1900, it last sold for $800,000 in 1990.
It features a sitting room with bay window and gas fireplace as well as living room with open fireplace.
There are also living and dining room as well as a European kitchen with stone benches.
<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/2017/09/03/121%20Kooyong%20Road-2.jpg" alt="">
The kitchen leads to the landscaped garden with pool and BBQ.
The main bedroom has a ensuite/bathroom as well as built in robe while three additional bedrooms have their own built in robes.
Other feature includes an off-street parking for two cars.
The property was offered through Marshall White agents James McCormack and Dean Gilbert.
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Federation Armadale house sold for $5.1 million

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Margaret Jackson, the first woman to head the Qantas board, has listed her Armadale trophy home.
The <a href="https://www.realestate.com.au/property-house-vic-armadale-125913590" target="_blank">European inspired Avalon Road home</a> set in gardens designed by Robyn Boyle has a price guide of between $4.9 million to $5.5 million.
Comprising four bedrooms and a timber lined library, the home has formal sitting and dining areas that extend out to a covered alfresco terrace and the landscaped private garden with stone pond.
<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/2017/07/19/Jackson2.jpg" alt="">
An internal lift connects the three levels including a basement with a sound proofed cinema room, wine cellar and garage.
A double height reception hall sits behind the ornate antique timber and wrought iron front double doors.
Marshall White have set an August 5 auction.
Jackson, who paid $2.75 million for the home in 2004, has held senior positions at ANZ, BHP and Billabong.
She was made a Companion of the Order of Australia in 2003.
 
 
 
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Former Qantas board chief lists Armadale home

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The former Armadale Theatre building in High Street, Armadale has sold for $10 million to a Melbourne investor after a marketing campaign that saw 10 plus offers.
The property, 926-930 High Street, adjoins Armadale train station.
It totals 1,400 sqm space.
It last traded in 2012 for $5.06 million. Previously, the building was occupied by art dealer Sotheby’s. 
CBRE’s Retail Strip Investments team comprising Josh Rutman, Rorey James and Lewis Tong negotiated the sale. The property was listed in June.
Rutman said the international marketing campaign appealed to a mix of local and offshore investors.
They were attracted to the long-term lease, location and confidence in the Mossgreen business.
James said the significant capital appreciation - almost $5 million in less than 5 years - in such a short period of time highlighted the lack of blue chip investment properties available in the Melbourne market.
“This lack of supply coupled with low interest rates has driven yields down to their strongest levels in decades, particularly with the Melbourne strip retail investment market,” he said.
 
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Former Armadale Theatre building sold with Mossgreen tenancy

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An original 1960s Armadale house has sold for $5.2 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom house on 760 sqm has the potential to either be renovated, rebuilt or redeveloped.
Living spaces leads to a north-facing covered terrace as well as a northeast garden with pool.
<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/2017/07/02/52%20Adelaide%20Street-2.jpg" alt="">
Upstairs is the main bedroom with two walk-in robes and ensuite as well as expansive rumpus room with built in bar.
The property is close to High Street’s shops, restaurants, trams are just moments away.
The property was offered through Marshall White agents Marcus Chiminello and Nicole French.
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Original 1960s Armadale house sold for $5.2 million

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Retail is hot property in and around Melbourne, suggest a number of recent sales.
The latest to go on the market is a retail freehold located at Armadale in Melbourne’s inner east.
Savills Australia opened up expressions of interest for the sale of the <a href="https://commercialpropertysearch.savills.com.au/searchdetailplainnew2noborder.aspx?id=690caa7e-9f0e-e711-80cf-005056816353&amp;jt=For%20Sale&amp;com=False&amp;ret=False&amp;ind=False&amp;lan=False&amp;addr=941-951%20High%20Street%20Armadale%20%20VIC%203143" target="_blank">941-951 High Street</a> property expecting it would fetch more than $5.5 million. It came with a May 18 deadline, but sold within days of its listing.
It will be sold subject to a short term leaseback to antiques retailer, Capocchi.
Occupying 809 sqm, the commercial 1 zoned site comprises a single-level retail building.
The listing agents are Savills’ Nick Peden, Clinton Baxter, Jesse Radisich and Benson Zhou.
"Its position in High Street Armadale is regarded as Melbourne’s most high profile, luxury shopping strip – opposite Armadale Railway Station, and within close proximity of Glenferrie Road retail and Malvern Central Shopping Centre and some of Melbourne’s best schools,” said Baxter.
Peden described the property as a prime opportunity because of its development potential and being located in one of Melbourne’s most affluent suburbs.
“This is one of those opportunities that comes up very rarely presenting an extraordinary investment as it is, but then also offering significant redevelopment potential given the zoning and the resounding success of other development ventures in the precinct,’’ he said.
Recently, a restaurant in Armadale sold at auction for $1.22 million through Ray White Commercial Oakleigh. 
The 857 High Street property is leased to Zia Rina’s Cucina. It fetched a yield of 3.46 percent and sold $120,000 over the vendor’s reserve.
 
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Armadale High Street retail offers development potential: Savills

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Sallman House, the Modern Functionalist-style trophy home at Armadale was sold for $6.52 million when offered at recent auction by Hilary Cook and Peter Geraerts.
My spy, disguised as an Ionic column with garlands, advised it was announced on the market at $5.9 million. There had been an opening vendor bid of $5.5 million at what became  auction hotly contested by mostly upgrading local families.
The early 1920s Kooyong Road residence was designed by Harold Desbrowe Anneal with 2008 renovations by Luke Middleton from EME Design. 
There's signature stepped chimney shafts and patented sliding sash windows. It last sold at $2.2 million in 2007.
It was built for estate agent Maurice Sallman and wife, Doris who had architect Harry Norris do some renovations in the late 1920s.
The Tallent medical family owned it for five decades from 1934.
The decking and terraces include an Electrolux barbeque for indoor-outdoor entertaining as well as a swimming pool, poolside sauna and bathroom.
Main bedroom suite has its own walk-in robe and en suite with a walk wain-in rain shower and marble vanity for the basins.
Kay and Burton agents Darren Lewenberg and Grant Samuel sold the home.
This article first appeared in The Weekend Australian Mansion Australia section.
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