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]

WM Residences fills gap in Mordialloc townhouse market

Commercial Development

<html><body>
The Byron Bay Holiday Village located at 116-118 Jonson Street, one of the last multi-storey developable sites in the heart of Byron Bay, is to be offered for sale.
The 4,282 sqm Local Centre zoned property will be marketed by John Musca of JLL Hotels &amp; Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments, via a formal expressions of interest campaign.
Owned by the same family for over 37 years the business currently operates as the Byron Bay Holiday Village Backpackers with a capacity of up to 200 guests and was the first purpose-built backpackers in Australia when built in 1983.
Having sold the Beach Hotel in Byron for $104 million Mr Musca noted that the measured approach to new development has assisted in maintaining the areas unique coastal culture, whilst also amplifying the interest in those last remaining sites offering favourable zoning.
Byron’s commercial focus is continuing to extend along Jonson Street where the recently completed Mercato complex will eventually be flanked by a proposed 4-star hotel on the former Woolworths site and a new hospitality and retail complex planned for 90 - 96 Jonson Street. That 5390 sqm property was sold for $29.8 million in January this year, representing $5,528 per sqm.
Mr O’Shea expects that interested groups will appreciate this short-term income strategy however the highest and best use for the site is likely to be development.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Byron Bay Holiday Village set for sale

<html><body>
Fender Katsalidis’ design for the Liverpool's tallest commercial tower and its surrounding redevelopment has received approval.
The project, which will be developed by Macky Corp, is known as Liverpool Quarter.
It will feature a 23-storey curved tower situated on the corner of Scott and Bigge streets.
The mixed-use project comprises 25,000 square metres of new office space, 1,500 square metres of co-working, 640 square metres of retail including a refurbished 1888 Hotel.
In addition to the 23-storey tower, the project comprises the refurbishment of the existing three-storey heritage New Commercial Hotel along with the construction of a two-storey building known as The Stables.
1,200 square metres of open space will act as the heart of the precinct.
<img src="https://www.urban.com.au/images/2019/7/30/Liverpool%20Quarter%202.JPG" alt="">
Fender Katsalidis director Mark Curzon said, “Liverpool Quarter will set the standard for the best premium office space and public open space in this amazing emerging city."
The project is set to cater to the growing commercial demands of the area, particularly with the Western Sydney Airport approval, while the location also provides connectivity to the Sydney CBD via the adjacent Liverpool train station.
Construction of the building is expected to commence in late 2019 and completion is slated for late 2021.
</body></html>

Plans green-lighted for Liverpool’s tallest commercial tower

<html><body>
A project <a href="/news/talking-the-talk-386-412-william-street-melbourne">first covered by Urban.com.au way back in 2013</a> has found a new purpose, with owner MIT Group Holdings joining the growing chorus of developers adapting their development intentions to commercial use.

Spanning a 4,000 sqm site at 386-412 William Street on the northern cusp of Melbourne's CBD, the development to be known simply as '388 William' will see a change of use from residential to commercial, with the original hotel component retained as per approved plans.

Already this month we have seen Charter Hall apply for a <a href="/news/charter-hall-unveils-1-5-billion-redevelopment-of-555-collins-street">dual commercial tower scheme across 555 Collins Street and 55 King Street</a> on the western edge of the Hoddle Grid, superseding a failed residential scheme.

Founders of MIT Group Holdings, Shesh Ghale and his wife Jamuna Gurung have retained Elenberg Fraser as the architects for 388 William, with only minor cosmetic changes to the endorsed design and change of use sought. This is to allow for the creation of contiguous flexible floorplates of up to 2,800 sqm.

<blockquote>
"We are just in-filling between the towers for the bigger floor plates required by offices, so we're working in anticipation of approval."

- Shesh Ghale, via the <a href="http://www.afr.com/leadership/afr-lists/rich-list/how-the-rich-invest-shesh-ghale-and-the-stroll-that-saved-him-millions-20190204-h1atyf">AFR</a>
</blockquote>

Overall, 20,000 sqm NLA of A-grade office space will be provided across levels 2-10 with MIT Holdings seeking tenants for the office space - Colliers International and JLL have been charged with the leasing campaign.

A five-star hotel with 290 keys will occupy the remaining floors above, while retail will also be provided to the lower floors within the shell of the existing former Mazda dealership.

<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/388w_office.jpg" rel="gallery-all"><img alt="A reimagined 388 William Street. Image: Sinclair Brook" class="image-article-full-width-580px" height="487" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/388w_office.jpg?itok=od17WXD8" title="A reimagined 388 William Street. Image: Sinclair Brook" width="580"></a>

<figcaption>A reimagined 388 William Street. Image: Sinclair Brook</figcaption></figure>388 William will be targeting a 5 Star Green Star Rating and 5 Star NABERS Energy Rating and featuring a high-tech building management system. Tenants in the building will also have access to the hotel facilities which are set to include a pool, gym, Rooftop Bar, amongst others.

Sinclair Brook has been appointed to manage the project on behalf of MIT with site works expected to commence this year and targeting a 2022 completion. 
</body></html>

Laurence Dragomir

388 William joins the growing chorus of office developments in Melbourne

<html><body>
MAB’s recently completed commercial development - CubeOne - has attracted local business owners seeking to capitalise on the building's central location, excellent transport links and Narre Warren's thriving commercial precinct. According to MAB, the Narre Warren business precinct is within Australia’s 12th fastest growing city, with a projected population increase of almost 200,000 by 2041. 

Located at 55 Victor Crescent in Melbourne's South-East, the $10m building has been designed by architects Watson Young to accommodate 5,000 sqm of strata office space across four-storeys, while promoting walkability and a sense of community.

CubeOne features 40 strata office suites upwards of 45 sqm capable of accommodating a 300 strong workforce, in addition to a standalone restaurant tenancy,156 secure carparks, and expansive landscaped areas.. An illuminated external façade provides businesses with a strong visibility.

Danny Lavigne, Managing Director of Blynx Insurance Services, is one of the first businesses to move into CubeOne. Lavigne’s company services many of those who live in the local area, taking advantage of the proximity to Fountain Gate Shopping Centre, the City of Casey Municipal Offices and nearby walking trails and cycle tracks.

Ashwin Pandit, owner of Mocha Mojo Café &amp; Lounge in Berwick, is another local business owner who made the decision to purchase into CubeOne. He was looking to expand his business, opening a new site close to his existing cafe to minimise commuting hours and mobilise existing staff. His new café, Butlers Kitchen at CubeOne, will open early 2019 and includes an outdoor seating area, capable of hosting up to 100 patrons.

<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/mab_cube-2.jpg" rel="gallery-all" title="The four storey building offers 5,000 sqm of strata office space in Melbourne's South East. Image: MAB"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/mab_cube-2.jpg?itok=_cbtWFSS" title="The four storey building offers 5,000 sqm of strata office space in Melbourne's South East. Image: MAB" width="580"></a>

<figcaption>The four storey building offers 5,000 sqm of strata office space in Melbourne's South East. Image: MAB</figcaption></figure><h2>What they say...</h2>

<blockquote>
CubeOne follows a trend in commercial property developments decentralising Melbourne and providing businesses with affordable commercial offerings, reduced travel time and greater work/life balance.

We’re seeing record sales at CubeOne because of a growing need for spaces outside the central city where small business owners can invest in their own premises in an environment that is conducive to a modern, mobile and integrated lifestyle.

With limited CubeOne suites remaining, we’re seeing interest from a range of small businesses including accountants, medical professionals and investors who wish to own their own office and take greater control of their business investments.

- Michael Martin, Director Business Parks at MAB
</blockquote>

 

<blockquote>
Business is booming in the South East and there’s not many office spaces that provide a high-quality and affordable offering. The office space is not only a great environment for employees and clients, but I have confidence there’s a huge business opportunity in the area, which is why I chose to invest, rather than lease.

I think CubeOne will provide greater control over the future of my venture and we’ve got the capacity to grow and accommodate another 10 staff. It was essential to have a space that would provide future expansion and flexibility over time, that was convenient for employees to commute to and would be attractive to future employees looking for greater work, life balance. 

CubeOne certainly gives us all of that, allowing us to avoid the daily city traffic grind and we have all the amenities like parkland, cafes and secure parking right on our doorstep.

- Danny Lavigne, Managing Director of Blynx Insurance Services
</blockquote>

 

<blockquote>
With the local economy growing and not many business park cafes catering to the growing number of local office workers, I jumped at the chance to invest.

- Ashwin Pandit, owner of Mocha Mojo Café &amp; Lounge in Berwick
</blockquote>
</body></html>

MAB’s CubeOne attracts businesses to Narre Warren’s burgeoning commercial hub

<html><body>
The NSW Government has decided not to proceed with a proposal by Gap Bluff Hospitality to build a commercial function and wedding centre at South Head.
Gap Bluff Hospitality had sought to re-use six buildings within Gap Bluff, South Head, Camp Cove and Green Point precinct in Sydney Harbour National Park.
The former Officers’ Mess and Armoury at Gap Bluff and Watsons Bay would have become function centres, catering for up to 400 people a day and short stay accommodation would have been available at Gap Cottage, Gap Bluff; Green Point Cottage, Green Point; 33 Cliff Street, Watsons Bay; and Constable’s Cottage, Camp Cove.
Environment minister Gabrielle Upton said the decision followed strong community opposition to the proposal. 
“There has been significant community opposition to the proposal and as a result I have decided the proposal should not proceed,” Ms Upton said.
“The community’s voice has been heard loud and clear. In all 1,531 submissions were received, of which 1,505 were opposed to the proposal, with 12 deemed neutral and 14 in support. 
Upton said any future plan for Gap Bluff must include strong collaboration between the National Parks and Wildlife Service and the local community.
The Liberal candidate for Wentworth Dave Sharma said he was "very pleased" to see the development proposal for South Head being rejected.
"It was inconsistent with the heritage, community and recreation values of this iconic and historic site," he said.
</body></html>

jrobinson-rf4aSBido9

NSW Government decides against South Head function and wedding centre

<html><body>
The South Australia State Commission Assessment Panel (SCAP) has given its approval for Starfish Development’s land subdivision application for Dock One.
It forms the first phase of the project, comprising townhouses and apartments.
Starfish is billed as the first developer to reach this stage in the re-invigoration of Port Adelaide.
Starfish managing director Damon Nagel said the plans envisaged a reduced number of cars, turning the main street through the centre of the development allowing a lineal park and communal garden.
It has opted to retain the former Marine and Harbours building for residential and commercial use, along with the old Customs House.
Remediation and early earthworks have already begun on site and scheduled to be completed by the end of the year when Starfish plans to release the townhouses and apartments onto the market.
Work on roads and other infrastructure is expected to commence early next year, before construction on the townhouses in the second quarter.
The new train link to Dock One will give access to the city centre.
</body></html>

Starfish Developments given subdivision approval for Port Adelaide residential project 

<html><body>
The expansion of the Melbourne Convention and Exhibition Centre and broader South Wharf precinct is complete, marking the first expansion of an operating public-private partnership in Victoria.
The $350 million project by the Victorian Government in partnership with Plenary and its private sector partners includes a 20,000 square metre expansion of MCEC, the new 347-room Novotel Melbourne South Wharf and new 1,150-space multi-level car park.
The MCEC is Australia’s largest convention and exhibition space.
Acting Premier of Victoria James Merlino and Minister for Tourism and Major Events John Eren joined Plenary Chairman John O’Rourke, Melbourne Convention and Exhibition Trust Chair John Brumby and MCEC Chief Executive Peter King yesterday to tour the centre.
The expansion is fully-connected and integrated with the existing MCEC buildings and include 9,000 square metres of flexible expansion space, a 1,000-seat multi-purpose theatre and a gala banquet room.
Around 700 people were employed to work on this project, including up to 60 apprentices. Now completed, the expanded precinct will add more than 900 ongoing jobs.
Plenary Group Chairman John O’Rourke said the project will increase business and tourism activity in the precinct, ensuring it remains Australia’s number one business tourism and events destination.
“We planned for this expansion when designing the Melbourne Convention Centre a decade ago, so it is great to be finally realising what we envisioned,” O’Rourke said.
“As long-term investors in the precinct, Plenary was perfectly placed to deliver the expansion, ensuring MCEC continued its success and that South Wharf remained a food, beverage and retail destination.”
Melbourne Convention and Exhibition Trust Chair John Brumby said he was proud of the project and the benefits it will bring for MCEC’s customers, the City of Melbourne and the State of Victoria.
“A project like this involves a lot of different people and I think the success of this building is testament to the strong engagement among key stakeholders throughout planning and construction,” Brumby said.
The Victorian Government provided $205 million for the MCEC expansion, and Plenary and its partners invested more than $150 million in the hotel and car park.
Plenary was the sponsor, investor and financial arranger for both the expansion project and the original 2009 Melbourne Convention Centre development, and plays a key role in the ongoing asset management of MCEC.
</body></html>

jonathanchancellor-7SQnKwU6yx

Melbourne's South Wharf precinct and Convention and Exhibition Centre complete

<html><body>
A Gisborne farm has been sold for $61.1 million to the Melbourne developer ID Land.
It was a 75 ha property at <a href="https://www.realcommercial.com.au/property-land+development-vic-gisborne-502701826" target="_blank">39 Willowbank Road </a>(pictured above) which will become new housing.
Savills agent Julian Heatherich said the owners who had farmed cattle on the property were retiring and downsizing to a smaller home.
The buyer will seek to develop 600 housing lots along with a primary school, waterways and parks.
 
<div class="wp-caption"><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/2018/7/6/Gisborne.jpg" alt=""></div>
Buying interest came from across Australia, China and South East Asia, resulting in the strongest development sale the Macedon Ranges region had ever seen.
“We received 15 offers and 160 requests for information for the property,” he told the local Leader community newspaper.
The property is surrounded by new residential estates, including Gisborne Fields and Golden Views, and is serviced by a train station, multiple bus routes and the Calder Freeway.
ID Land is a major property developer with projects across Melbourne, including Truganina and Wollert, and Geelong.
</body></html>

Savills sell 75ha Gisborne farm for $61.1 million

<html><body>
Following the introduction of new planning and density controls in Melbourne's Central City Zone last year, architeePlan Melbourne forecasts Melbourne's population to hit 10 million by 2051, carrying with it an additional 1.5 million jobs that need to be accommodated within an increasingly changing workforce. This has spurred the demand for both new commercial stock and the revitalisation of older commercial developments with Melbourne City Council’s data showing that 25 buildings are currently under construction within the Hoddle Grid.

Urban.com.au spoke to <a href="/architects/bates-smart">Bates Smart</a> Director Julian Anderson, who shared his insights into the impacts of Victorian planning controls on the future of the city’s commercial opportunities.

Despite the best of intentions, says Anderson the planning controls that were introduced last year relating to the permissible size of developments in the <a href="/new-apartments/melbourne-vic">CBD</a> and <a href="/new-apartments/southbank-vic-3006">Southbank</a> are having a significant impact on Melbourne’s skyline. The controls were brought in to arrest construction of a wave of residential towers on the north and western edges of the city — towers that "display little regard for liveability for their inhabitants or the public." 

The Victorian Government’s intention is to “provide improved public amenity and deliver consistency and certainty that will ensure our city grows in a way that enhances all that make it the world’s most liveable city”.

The aspirations are laudable, says Anderson particularly in light of recent developments completed in the CBD which have been up to four times larger than the new controls would allow under a 18:1 plot ratio. In basic terms, the new provisions allow a maximum of 18 square metres of floor area to be developed for every square metre of site area. For example, a 2,000 sqm site can deliver a maximum of 36,000 sqm of floor area. More floor area will be permissable if additional public or strategic benefit is provided such as public open space, affordable housing or commercial office space.

One unintended outcome however, notes Anderson, has been the impact on the viability of commercial office towers, not with respect to height but rather when applying the setbacks required under the controls. This lead to Bates Smart undertaking the assessment of sites within the Hoddle Grid which are feasible for commercial development with a 1,500sqm NLA floorplate which based on their experience is the minimum required by both developers and tenants.

The office initially undertook an assessment of the impact of the new controls on residential development for their existing clients but realised it would be new commercial office developments which would be most impacted. As a comparison, the current crop of office developments which are under construction (save for one or two) were all permitted under the previous planning regime but wouldn't meet the setback requirements of the new controls.

Based on benchmarking their own office developments, Bates Smart determined that to achieve a 1,500sqm floorplate, a site of 3,000sqm would be required to achieve the necessary setbacks. Then a process of subtraction was undertaken, sites with development permits, landmark civic buildings, existing high-rise towers, strata titles were excluded and the potential for site consolidation was also considered. "The result?" says Anderson, fewer than six potential sites that could accommodate a viable commercial office tower.

<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/180507_city_development_study_small-10.jpg" rel="gallery-all" title="Bates Smart's development study highlights sites capable of accommodating office development. Image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="437" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/180507_city_development_study_small-10.jpg?itok=wgeGO_md" title="Bates Smart's development study highlights sites capable of accommodating office development. Image: Bates Smart" width="580"></a>

<figcaption>Bates Smart's development study highlights sites capable of accommodating office development. Image: Bates Smart</figcaption></figure>One possible solution is to introduce two distinguishable sets of planning controls for residential and commercial development in the central city. The requirements for office developments with respect to privacy, natural light and adjacencies to other buildings are not as onerous as they are for residential buildings.

Anderson believes if nothing is done landowners will  eventually realise many sites can’t be developed, which will trigger the amalgamation of adjoining sites to maximise development potential. This however leads to protracted negotiation periods, slower development times and fewer opportunities.

Similarly, we may see more developments relying on the purchase of “air rights” — the underutilised space above a building. An adjacent owner can purchase those air rights to enable construction of part of their building into that space. Another potential corollary is the delivery of more slender residential towers because the controls also dictate that the taller a building, the further it must be set back from its boundaries.

Anderson cites New York, where amalgamated sites or those subject to development resulting from the purchase of air rights brought about a raft of super-slim towers. These are very costly because of additional structural requirements and the effects of wind on their slender forms.

As well, the proportion of structure to floor area cuts the net saleable area. This drives developers to build higher in an attempt to claw back profit forgone from lost floor space. Matching the high construction costs are the sky-high prices of $US4 million for a two-bedroom apartment on the 10th floor of a midtown apartment block or $US20 million for a two-bedroom apartment on the 50th floor of a midtown tower, for example.

Melbourne has its own example of this new tower form, with the Bates Smart'-designed Collins House site at <a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">466 Collins Street</a>. Approved under the previous planning scheme, the 57-storey apartment building is under construction and when complete, will be the world’s fourth slimmest tower.

Anderson says Melbourne’s future and title as a liveable city lies in our ability to plan for the careful expansion of the city and to find opportunities to relax our planning controls. This would allow for major urban regeneration projects to flourish and accommodate our future needs.

<h2>What they say</h2>

<blockquote>
Our research and recent experience has established that developers and tenants are looking for floorplates sized no less than 1,500sqm NLA in CBD zones. There are several factors driving this area requirement. 
Reasonably, developers require a level of pre-commitment from tenants prior to embarking on projects.

These tenants seeking floorplates that minimise distribution of staff across multiple floors. These floorplates can cater to over 100 people and offer open-plan floor space with good access to natural light and views to assure physical and mental wellbeing of the occupants.

The challenge with the planning controls is that rather than stimulating commercial development in the CBD, it stifles it. A floorplate of 1,500sqm under these controls requires a site area of around 3,000sqm. However, by the time you factor in the setbacks and other height controls, there are very few developable sites remaining.

In recent months, our team has conducted research establishing that there are fewer than six potential sites in the CBD that will support development over 80m in height, with floorplates not less than 1,500sqm in area. We concur with various industry sources on predictions that the commercial pipeline could be exhausted in the next decade.

- Julian Anderson, Director Bates Smart
</blockquote>

<blockquote>
It’s predicted that demand for commercial office space in the CBD will almost double over the next 30-35 years – this means Melbourne’s city will need an additional 4 million sqm of commercial space to match demand, largely driven by a booming population and forecast jobs growth.

This is a major challenge for Melbourne and we continue to work with the Victorian Government and the City of Melbourne to ensure that our planning processes not only reflect the needs of the market but can support the needs of our growing city into the future.

- Roger Teale, Property Council of Australia, Victorian President
</blockquote>
</body></html>

Bates Smart's Julian Anderson discusses commercial development feasibility in Melbourne's central city

<html><body>
An $8 billion mixed-use city is proposed for Western Sydney, with the potential to create 140,000 total jobs.
It supports the concept of the 30-minute city by enhancing productivity and competitiveness in the city’s west.
The proposal for a World Trade Center Sydney (WTC Sydney), by the Aerotropolis Group, has been made to the NSW Department of Premier and Cabinet.
It includes four WTC towers, an international convention and exhibition centre, commercial space for multinational companies, an innovation and incubation centre for start-ups and retail and residential space.
With a vision for a net zero carbon development, the site of the proposed WTC Sydney was master planned by global architecture studio Woods Bagot. 
An economic impact assessment by PwC indicates the mixed use employment district at WTC Sydney would annually create 43,500 direct jobs and directly inject $13 billion to the economy, with significant additional indirect and induced benefits to Sydney and NSW. 
Aerotropolis Group Managing Director and CEO Jomon Varghese suggests WTC Sydney was "a project that will resolve the structural problem faced by Sydney by bringing balance to our city which is historically tilted to the east".
 <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/2018/5/30/1711_WTC_Profile_03.jpg" alt="">
Western Sydney director of the Sydney Business Chamber, David Borger, said the new airport will be the catalyst for investment and economic opportunities.
Varghese said he hoped the centre would be opened by 2026 – the same time the new Western Sydney Airport will begin operation. 
 <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/2018/5/30/ARRIVAL%20PLAZA_LOOKING%20NORTH.jpg" alt="">
</body></html>

Commercial Development

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Commercial Development

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News