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

Development

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A redevelopment in the heart of the Gold Coast's Southport has sold for $7,665,000  to an Australian/Chinese consortium.
The site, 104-114 Scarborough Street, Southport,has DA pending for a high rise building and was sold through by Wayne Devenport and Brett Delmege of Ray White Commercial Southport on behalf of Sydney-based general practitioner Dr Nirmal Taluja.
 
A substantial redevelopment site which has a DA pending for a mixed use high rise building in the heart of the Southport CBD on the Gold Coast has been sold by Ray White Commercial for $7,665,000.
 
The property at 104-114 Scarborough Street, Southport, was sold to an Australian/Chinese consortium by Wayne Devenport and Brett Delmege of Ray White Commercial Southport on behalf of Sydney-based general practitioner Dr Nirmal Taluja.
 
Wayne Devenport said there was strong interest in the approximately 2,430 sqm site from local, interstate and overseas interests.
 
The vendors of this site had submitted plans for a substantial mixed use development over 48 storeys.
 
The development was proposed to include a total of 254 one, two and three bedroom apartments over 33 levels as well as student accommodation and 108 serviced apartments.
 
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Southport redevelopment site sold for $7,665,000

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Quest apartment hotels have opened their doors to a new hotel in Chatswood.
The new 100 room hotel at 38 Albert Avenue increases Quest's already strong presence in Sydney.
The building will be developed by international trading and investment company Wu International. 
There are 100 studio, one bedroom and two bedroom apartments available.
The building includes onsite parking and a gym, with rooms featuring Foxtel and free wifi. 
CEO of Quest Zed Sanjana was delighted to open another Quest in NSW, given Sydney being a leading location in the apartment hotel operator's growth strategy.
"Sydney is one of our key growth areas for the coming decade - expanding our presence in this diverse and thriving city will strengthen out brand and cement our position as the accommodation provider of choice for travellers doing business in this state."
Quest Hotels are continuing their growth, with new properties being targeted in:
WA: West Perth, Mounts Bay Road, East Perth and Fremantle
NSW: St Leonards, Newcastle, Bella Vista and Macquarie Park
SA: Port Adelaide
VIC: Dandenong Central
NZ: Petone
The rate for a one bedroom apartment is around $229 a night. 
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jrobinson-rf4aSBido9

Quest expands NSW presence with Chatswood opening

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The joint study between the Federal and NSW Governments into options for a rail link to service Sydney’s proposed second airport at Badgerys Creek must join the major sites for development in Sydney now and into the future. 
The new airport for Western Sydney must be connected by a rapid rail system to the Sydney CBD in order to maximise the success of the airport. Studies show that it doesn’t matter how far away the airport is from the CBD, it matters how long it takes to get from the airport to the CBD.
It is therefore good news that the State and Federal Governments are undertaking a study to explore options for the rail link.
One option that should be investigated is to connect existing and future large development sites that are likely to occur over the next few decades so that the rail system could also support proposed development. 
Sites that could be connected would be Liverpool, Parramatta, Camelia, Sydney Olympic Park, the Bays Precinct and Barangaroo. Each of these sites could become precincts for increased density, delivering housing and employment with some form of contribution towards the new railway.
It is important that when investing in new public transport infrastructure in Sydney that significant new density is encouraged along the route. 
The NSW Government should examine a range of special sites along the route that could become new urban centres in the future, and provide additional housing and employment opportunities for Sydneysiders.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Rail options study for Western Sydney airport must link growth areas: Urban Taskforce

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Tim Gurner, the Melbourne based property entrepreneur, has sold 1700 apartments in a single year.
The apartments are said to have brought in just under $1 billion for Gurner's company Gurner.
Since launching his first project in 2014 Gurner has quickly acquired a development book of over $2.1 billion, selling the 1700 apartments across 13 unique buildings across the eastern seaboard.
Tim's first venture, whilst studying at Melbourne University was a gym in Elwood.
"The gym was the best learning experience I could have asked for. 
"I think I learned more in the first four weeks of starting my own business from scratch with my own money than I did in three years at university".
Tim has also ventured out of the Melbourne market with a $600 million FV three tower precinct in Brisbane's Fortitude Valley.
The end of year caps off a huge year for Gurner who celebrated a record breaking 651 apartments sold totalling over $300 million just 12 weeks, followed by the success of the sell-out Ikebana in West Melbourne in just six weeks.
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Tim Gurner notches up 1700 apartment sales in single year 

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Two lots of prime land ideally suited to land banking at Hurstbridge in Melbourne’s outer north-east are up for grabs.
The sites at <a href="https://www.realestate.com.au/property-residential+land-vic-hurstbridge-201318370" target="_blank">43 Haleys Gully Road </a>will be sold by expressions of interest closing November 18 with each lot expected to fetch more than $900,000.
The site is spread over 15.1 hectares, which can be purchased separately as 7.75 and 7.35 hectare lots.
According to listing agents Larry Takis of Teska Carson and Peter Koiker of Barry Plants, the site has potential for longer term subdivision subject to council approval. The property abuts an established residential subdivision.
The site is close to Hurstbridge railway station, shops, and school.
"The Shire of Nillumbik, and particularly its northern precincts, has long been a very popular area for those who like to live in a superb semi-rural environment within easy commuting distance to the CBD and wider Melbourne," said Takis.
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Victoria's Hurstbridge sites to fetch circa $1.8 million

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Austlander Developments Pty Ltd has bought an infill development site at Keysborough in Melbourne’s south-east with plans for an industrial estate, paying $5.69 million.
Located at 241 Perry Road, the property comprises a 5.66 hectare allotment zoned Industrial 1 and adjoining Fraser Property’s (formerly Australand) Key Industrial Park.
The deal was brokered by Paul Jones and Kosta Filinis of Savills Australia.
Austlander will seek to subdivide the land into 29 x 1000 square metre and two x 7000 square metre lots.
"This is a prime industrial development site, adjacent to a successful and very popular industrial estate with excellent access to Greens Road and EastLink," Jones said.
He said Austlander was confident an industrial subdivision would attract tenants given the south-east’s status as one of Australia’s fastest growing regions.
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Austlander buys infill development site in Melbourne's Keysborough for $5.69 million

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Boutique property fund manager Quintessential Equity has sold its option to develop the site at 36 St Georges Terrace, Perth to GP Hotel Perth WA Pty Ltd for $23.75 million.
Quintessential bought the property last November for $17 million, with plans to build a luxury residential apartment building of 280 units over 35 levels, overlooking Perth’s Swan River, as part of a series of new developments in the area, including Cathedral Square and Elizabeth Quay.
The fund manager said it could not comfortably de-risk the opportunity for its investors and decided to sell the option. It said it had the support of the vendor, the Uniting Church.
“While it’s of course disappointing that our vision for the St Georges Terrace site will not come to life, it’s more important that we act in the best interests of our investors and we simply couldn’t de-risk the development to a level that we felt comfortable with,” Quintessential Equity director Shane Quinn said.
The property is expected to be developed into a hotel.
The news comes as Quintessential Equity announced former Mirvac director of development Guy French-Wright as its development director, from early 2016.
“We are well progressed with a number of development projects, including our proposed $100 million plus commercial office development at Geelong’s iconic 1 Malop Street which has been well received by the tenants in the market for premium office accommodation in Geelong,” he added.
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Quintessential sells option to develop Perth's St Georges Terrace property

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The last remaining commercial development site at 310-312 Governor Road in Melbourne's Braeside has sold for $3.3 million, inclusive of GST.
It was a 1.02 hectare site.
The property designated as Stage 2 of the development, was bought by developer Hermal Group.
“The green field site, the last available development property facing the busy Governor Road, sold with a development plan and permits in place for 22 warehouses and five showrooms, the latter along the Governor Road frontage,” said selling agent DBRE’s James Davie.
The property has a planning permit approved by the local Kingston City Council. It adjoins an initial Stage 1 development of office-warehouse units.
Davie says the permit provides for a set back from the main Governor Road frontage with the warehouse lots with site areas ranging from 170 to 450 square metre with onsite car parking. 
“The Hermal Group is proposing to start construction of the office-warehouse units on site virtually immediately and they will be available for pre-completion purchase commitments in a range from $350,000 to $650,000,” he said.
DBRE will also market Stage 2. 
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Commercial site in Melbourne's Braeside sells for $3.3 million

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A private developer from Beijing has purchased an approved site for a 12-level mixed use building for $15.5 million from Sen Yuan Development.
The building at 139-145 Parramatta Road, Homebush can house 80 residential apartments and six ground floor shops.  
It is a high-density mixed use development site spanning 2,330 square metres with 118 car spaces. 
There is development application approval for 6,874 square metres of total gross floor area. The holding has a two-storey brick showroom, a single-storey car workshop and shed structures. 
The property was sold through Dominic Ong of Knight Frank.
“The offshore developer saw this as a prime investment for Sydney's growing population and chose this site in part due to the currently strong residential market and also because the site is DA approved; so there is no planning risk and pre-sales can commence immediately,” said Dominic Ong, Knight Frank’s senior director, head of Asian markets, capital markets.
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Chinese developer buys mixed use Homebush site for $15.5 million

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The Draft Environmental Impact Statement for the Western Sydney Airport is positive about the project. 
The Draft EIS ticks all the boxes for the impact of the proposed airport for Western Sydney. 
The alignment has been confirmed so that there is little impact on nearby housing development to the south, the use of the ANEF (Australian Noise Exposure Forecast) noise contours continues current practice and demonstrates little impact on surrounding residential development. The projected passenger numbers demonstrate that the airport will be well used.
The Urban Taskforce initially had concerns that the alignment of the runways may be changed to a north-south alignment which would have impacted upon existing residential development. The confirmation of the northeast- southwest alignment is reassuring for both residents and property developers who would have been affected by this change. 
We also had some concerns that the measurement of noise impact would move away from the ANEF system to a new method favoured by federal aviation bodies – the ANEC (Australian Noise Exposure Concept), however thankfully the rigorous and proven ANEF system has remained in place.
The projected annual passenger numbers of 37 million by 2050 and 82 million by 2063 demonstrate that the new airport will be absolutely necessary and well used.
The Urban Taskforce believes that a rail connection to the airport is essential and that it should be an extension of the Sydney Metro line. The simplest rail solution is to extend the proposed Sydney Metro line to Bankstown on to Liverpool and then to the Western Sydney Airport site. This would act as a stimulus for Liverpool’s development and attract federal funds towards an integrated metro system for metropolitan Sydney.
The Federal Government under Prime Minister Malcolm Turnbull needs to demonstrate its interest in integrated transport by championing an extension of the Sydney Metro line which will run from Rouse Hill to Chatswood, Barangaroo, Sydenham, Bankstown and onto Liverpool and then the new airport.
 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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