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

Melbourne

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Commercial warehousing spaces in the Melbourne city fringe is a competitive market, according to Melbourne commercial agency Gray Johnson.
Leasing agent Rory White has just leased three older style warehouse spaces in Abbotsford, Richmond and adjacent Cremorne. 
At 18 Clarke Street in Richmond (pictured above) the ground floor of 200 square metres has been leased by UK-based Hawkeye Innovations, the sports replay and line call system company that was recently purchased by Sony for in excess of $200 million.
The lease at a commencing annual rental of $39,000.
"The proximity to Melbourne’s major sporting facilities was an important factor in the choice of this location," Rory White said. 
At 31 Cremorne Street, Cremorne some 410 square metres of warehouse space has been leased by European product retailer House of Orange Pty Ltd at a commencing annual rental of $42,000.
The warehouse space will support the tenant’s high quality retail furniture, design and giftware outlets in Armadale and Prahran.
At 1 Grosvenor Street in Abbotsford a sole building occupancy over 515 sqm has been leased by ArtCubed Pty Ltd. 
The new tenant will pay an annual rental of $57,000 on a four year plus four year option lease with 4% annual rental increases. 
The company is a leader in art curating and hanging systems.
"A city fringe location is of critical attraction to many small businesses including those seeking stockholding or warehousing space in support of inner suburban retail outlets," he noted.
Gray Johnson currently holds listings for similar city fringe space at 138 Stawell Street in Richmond with an indicative rental of $28,000 for 121 sqm, at 35 Dover Street Cremorne for 255 sqm at a rental of $52,000 which will be available in January and at 121 Dover Street Cremorne with 265 sqm currently vacant at a $66,500 annual rental.
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jchancellor-FAypfDUnLy

Momentum builds in inner Melbourne warehouse leasing market

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The two bedroom Old Mechanics Institute built in 1857 in South Melbourne, has been sold by the Black family. 
It is a striking bluestone hall with interior dimensions of 340 square metres of contemporary space.
It last sold in 2012 at around $2 million and first sold after its fit-out in 2007 by property developer Karl Kutner at $1,725,000.
<a href="https://www.realestate.com.au/property-house-vic-south+melbourne-117677555" target="_blank">Abercrombie's Sam Goddard was taking offers</a> on 272a Dorcas Street until 15 September, then listed it for mid-October auction, but didn't secure the sale until late October.
No sale price has been revealed.
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South Melbourne 1857 mechanics institute conversion sold

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GUEST OBSERVATION
Bayside is often described as one of Melbourne’s most liveable areas and it’s easy to see why. Bayside is a large area with over 96,000 residents calling it home. From glitz and glamour in Brighton to the laid back vibe of Beaumaris there is something for everyone. 
Stretching around Port Phillip Bay, the area not only offers perfect beaches but also all the elements to make it a sophisticated and easy place to live. Large blocks of land and excellent schools attract families, whilst couples are drawn to its close proximity to the city, water front views and active outdoor lifestyle.
With a number of suburbs in the Bayside area, there is sure to be something to suit all tastes and budgets.
<a href="/news">Brighton</a>
Possibly the jewel in Bayside’s crown, Brighton is one of Melbourne’s most prestigious suburbs being home to many local celebrities and prominent individuals. The area boasts some of Melbourne’s most luxurious properties - from stately mansions to large Victorian and Edwardian homes.
Having a well-connected transport system and an excellent selection of private and public schools, Brighton attracts families looking for a sophisticated suburb to call home.
Brighton’s trendy cosmopolitan shopping precincts, situated along Church, Bay and Martin Streets, are popular among locals and tourists alike; providing shoppers and patrons with access to high-end boutiques, upmarket cafés and a number of gourmet providores.
Brighton is bordered by six kilometres of stunning coastline and is home to the iconic colourful bathing boxes at Dendy Street Beach.
Brighton’s property prices have risen significantly in the past 10 years – the median property price currently sitting at $1.9 million for a house and $940,000 for a unit. As of the 2011 census, Brighton had a population of just over 21,000.
<a href="/news">Sandringham </a>
Further along the coastline is Sandringham, another one of Melbourne’s most desirable Bayside suburbs - popular among families and older couples looking for laid back beachside living in good proximity to Melbourne’s CBD.
Health and fitness enthusiasts are attracted to Sandringham as it offers the perfect environment for a healthy outdoor lifestyle.
With almost a quarter of the area being made up of green space and parkland, residents can often be found running, walking and cycling along the foreshore.
Boasting some of the best beaches in the area, Sandringham it is the epitome of beach side living. The main area of Station Street gives residents everything they need on their doorstep including; restaurants and cafes, clothing boutiques, home-wares and bookshops, as well as a train station offering a fast direct service in to the city.
Sandringham is a popular choice for families and its large Edwardian homes, art-deco properties and California bungalows are in high demand.
For those looking to invest in a Bayside suburb, Sandringham is definitely one to consider. With large blocks of land available and a median house price of $1,180,000, the area has seen good year-on-year growth.
This article continues on the next page. Please click below.
 
<hr class="system-pagebreak">
<a href="/news">Beaumaris </a>
One of Bayside’s quieter suburbs, Beaumaris has a laid-back village feel with the heart of activity its Concourse shopping precinct.
This quaint area is bustling with individual retailers such as high-end boutiques, eclectic gift shops, cafes and delis.
The Concourse is also home to the Lobster Cave restaurant – an institution amongst local residents. Other shopping areas include the Seaview strip on Balcombe Road which offers a number of amenities such as hairdressers, grocery stores and takeaways – many of the locals consider the fish and chips here some of the best in the area. There is also a small precinct in Keys Street.
For those looking to get back to nature the Ricketts Point marine sanctuary is a popular place for rock pooling, walking the dog or relaxing with the family.
Property styles vary greatly in the area – form large luxurious seafront pads to rustic bungalows. The relaxed vibe attracts families and older couples looking for the quiet life.
The median house price in Beaumaris is $1,027,500 and investors have seen an average year on year capital growth of 6.75% in recent years. Units have a median price of $742,500.
The rental market is quieter in Beaumaris than it is in its surrounding suburbs, with the number of properties rented significantly below the state average. The majority of properties are owned owner occupied. 
<a href="/news">Mentone </a>
Mentone is one of Bayside’s largest and more affordable areas, offering a great beach lifestyle with many leisure activities at its residents’ front doorsteps, including a lifesaving club, cricket club, football club, tennis club and lawn bowls club.
Mentone is a shopaholic’s delight with a number of retail strips including Como Parade West and Balcombe Road which houses restaurants, cafes, supermarkets, bakeries, home-wares and bookstores. Alternatively just a hop, skip and a jump away is Southland – one of Melbourne’s largest shopping arcades.
Mentone is a large suburb and buyers can find a diverse range of architectural styles in the area including Victorian homes, Edwardian properties, 1940s to 1970s architecture and an array of contemporary style homes.
The median house price in the area is $720,000 for a family home and $487,500 for a unit. As with many other suburbs along the bay, there is a high demand for property in the area, with an impressive average of 52 people looking at each property compared to the state average of 22 people per property.
When looking to purchase in Mentone, it pays to be wary of properties that are close to the Nepean Highway or too close to Mentone’s train line.
Campbell Cooney is a franchise director of <a href="https://www.hodges.com.au/" target="_blank">Hodges Real Estate</a>.
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CampbellCooney-Zu8e5u5KU2

Bayside, Melbourne: An area with a little something for everyone

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The Victorian Employers’ Chamber of Commerce and Industry (VECCI) has sold its East Melbourne headquarters to the Catholic Archdiocese of Melbourne.
The Archdiocese will look to house its central administration and various departments currently operating from multiple sites across Melbourne in the 11-level office building at 488 Albert Street property.
Industry House's heritage façade dates back to the first Baptist Chapel in the 1860s. The Catholic's new headquarters are next door to the Melbourne City Synagogue, the city’s oldest, which was consecrated in 1877.
No price has been revealed, but it was suggested during its marketing that it would fetch about $35 million if acquired as a pure office investment.
It also had the potential for alternative uses such as residential or as a hotel.
VECCI listed the property for sale after 12 years of ownership to facilitate plans to expand its operations in a CBD location.
“Of special appeal to the Archdiocese is the central location of the building so close to St. Patrick’s Cathedral and other nearby Catholic services including the Australian Catholic University, the Catholic Education Office, Catholic Theological College and St. Vincent’s Private and Public Hospitals,” Francis Moore, executive director administration of the Archdiocese of Melbourne said.
The building which has a lettable area of 6,822 square metre was sold by CBRE agents Kiran Pillai, Mark Wizel, Josh Rutman and Mark Coster.
The building is currently occupied by VECCI together with the Australian Catholic University and Medhealth.
After 12 years of ownership, VECCI chief executive Mark Stone said the proceeds from the sale will go toward the future acquisition of other property.
<img src="/images/2014/11/17/east%20melbourne%20nov%2017%20two.jpg" alt="">
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Catholic Church buys VECCI Industry House, East Melbourne offices

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The Nic Bochsler-designed Highgate Hill, Toorak home of former BHP executive and chairman Brian Loton sold after its weekend RT Edgar auction, where it came with $4 million plus price hopes through agent Michael Ebeling.
<a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">The three bedroom </a><a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">cul de sac offering</a> was built in 1992 for Brian Loton and his wife, Joan.
That was around the time he became chairman of Australia's biggest company.
Loton's first three years as CEO of BHP, between 1984 and 1986, saw him repel three takeovers from the late Robert Holmes à Court. He was its chief until 1991, then promoted from deputy chairman to chairman to replace Sir Arvi Parbo in 1992.
In 1991 the Fairfax resources writer Bruce Hextall wrote entering the 1980s, BHP was a large, but undisciplined entity, with a bureaucracy as ingrained as that of the Public Service, but had been able to transform itself into one of the world's great mining houses with a spread of interests that provide it with the ability to make hay even when the sun is not shining.
Its 1991 year profit of $1.05 billion outdid the previous year Australian record of $955 million in 1990.
The auctioneer Warwick Anderson told the auction crowd that the St Kevin's Christian Brothers order had placed single dwelling covenants in the cul de sac enforcing no more than a home per land title on its 1970s subdivision.
The corner of Orrong and St Georges Road had been the location of the school's Glendalough campus until the 1970s having purchased the holding in 1931 for £5,800.
St Kevin's Glendalough relocated to its current Lansell Road site after the 5.7 hectare Clovelly estate became available following the death of the Henry Jones IXL jam king, Achalen Palfreyman. It was bought by St Kevin's for $410,000.
When Palfreyman died in 1967 aged 93, he was believed to have been Australia's wealthiest man with a $6.6 million probate estate. The demolished home had 15 iron verandah columns apparently sent to Kirribilli House, Sydney for restoration of the verandah.
Its stained glass panels - said by Whelan the Wrecker to be the best he had seen in a Melbourne house - were inserted by the Langslow family into 79 St Vincent Place, Albert Park.
The Hillgate Hill vendors had the Nic Bochsler-designed family home replace their existing accommodation.
James Buyer Advocates reported there was a low opening bid of $3.6 million.
The only other was the vendor bid to $4 million.
It was bought after auction.
The neighbouring house had fetched $3,272,000 million in 2012 when the former Hawthorn Football Club president Ian Dicker sold. He had paid $1.02 million in 1987.
The eight-room, three level brick house at 11 Highgate Hill fetched $1.1million at 1994 auction by the ANZ Bank, and the last sale on the cul de sac at $4.25 million in late 2012.
The block had traded in the mid-1970s between $60,000 to $70,000.
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Mining giant Brian Loton sells longtime Toorak home

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The top sale around the nation on the weekend was in Melbourne's Elwood where $6.55 million was paid for the 1890s property at 6 Dickens Street, Trefusis.
<a href="https://www.realestateview.com.au/Real-Estate/6-dickens-street-elwood/Property-Details-buy-residential-7711998" target="_blank">It was sold</a> by interests associated with DFO founder and former chief executive Geoff Porz.
Agent Abercromby's were saying $5 million plus which set it on course to better the $4.84 million record set recently on <a href="https://www.realestateview.com.au/Real-Estate/10-byrne-avenue-elwood/Property-Details-sold-residential-6819795" target="_blank">Byrne Avenue</a> with a Federation home with extension.
Trefusis cost $3.5 million in 2009 before its renovation. 
It was announced as on the market at $5.1 million.
The house was designed by Ernest W M Crouch, a fine example of Melbourne's boom-style architecture, incorporating traits of both Victorian and Queen Anne.
It was in the late 1850s that the successful architectural partnership of Crouch &amp; Wilson was established and when the original principals died in the late 1880s the partnership continued under their respective sons until 1916.
Trefusis was built in the grounds of the Crouch family holding for Margaret McCutcheon who was a relative. Other owners have included architect Sydney Wigham Smith Jnr between 1904 and 1919. It was for some time a rooming house.
Trefusis had been offered with $3.5 million to $3.85 million hopes inn early 2011 in its unrenovated state, though with development permissions in place for its renovation on the 1,440 square metre block.
Dickens Street is the site of the Urban Inc residential development project, <a href="https://www.urbaninc.com.au/places/now-selling/places/dickens-street" target="_blank">Canopy</a> being undertaken by Danny Ciarma and Tim Gurner on a site that cost $5.75 million earlier this year.
Other recent prestige Elwood sales included Honfluer which was bought for $3.88 million by Matt Keenan and Christine Lacy.
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Elwood's 1890s Trefusis trophy home sets suburb record

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Governor-General Sir Peter Cosgrove and his wife, Lady Cosgrove, failed to sell their Neutral Bay home amid today's saturated weekend auction offering.
It has now been listed for private treaty sale after the $2.1 million vendor bid, pulled from auction without any buyer bidding.
There was a 74% overall Sydney clearance rate today, which mirrored last weekend's revised lower 74% clearance rate.
With around 1170 offerings, the Melbourne result was 72% today matching last weekend's revised 72% success rate.
Sydney's house auction median was $1.1 million and it was $810,000 in Melbourne.
The top sale around the nation was in Elwood where $6.55 million was paid for 6 Dickens Street, the 1890s property,Trefusis, which was sold by interests associated with DFO founder and former chief executive Geoff Porz. It cost $3.5 million in 2009 before its renovation. Agent Abercromby's were saying $5 million plus.
Sydney's top reported sale was 20 Agnes Street, Strathfield at $3.45 million.
The Cosgrove listing following the couple's recent move to their official, vice-regal residences, nearby Admiralty House in Kirribilli and Government House in Canberra.
McGrath Estate Agents had expected $2.1 million plus for the <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-neutral-bay-nsw-2089/240264" target="_blank">three-storey Spruson Street semi</a>.
They paid $1.95 million in 2007, two years after Sir Peter ended his term as the Defence Force chief.
They were in Brisbane at the time of the auction having greeted the US President Barack Obama on his arrival to the G20.
It was among the 882 listings across Sydney today, of which 106 were on the lower north shore.
The total number of Melbourne auctions held so far this year is 17 per cent higher than the same time last year, with 32,874 auctions held in the year to date, according to the REIV CEO Enzo Raimondo.
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*An earlier report suggested the Neutral Bay property had been pulled from auction altogether.
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Governor-General Peter Cosgrove leads the retreat with unsold offering amid saturated auction weekends

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Vermont South is located in the outer eastern suburbs of Melbourne, 34 minutes’ drive from the CBD.
It is surrounded by <a href="/news">Glen Waverley</a>,<a href="/news"> Wantirna South</a> and <a href="/news">Burwood East</a> and has a population of 11,972 people, according to the Australian Bureau of Statistics.
In 2005, tram route 75 was extended to the Vermont South Shopping Centre, connecting Vermont South to Melbourne’s inner suburbs and the city. There is also a bus transit link which travels to Knox City Shopping Centre.
Vermont South is home to Emmaus College (year seven to 10 campus), Vermont South Special School and primary schools; Weeden Heights and Holy Saviour. The hub of the suburb is the Vermont South Shopping Centre which includes several restaurants and a Coles Supermarket. It is also within five kilometres of major shopping centres; Knox City and The Glen. 
The suburb is also home to 20 parks, covering nearly a third of the suburb.
A famous Vermont South landmark is Pin Oak Court (pictured above), the filming location for ‘Ramsay Street’ from the television show, Neighbours.
RP Data shows that Vermont South’s current median house price is $791,500. This price has seen a steady rise, falling as low as $651,000 in 2013. Over the last 10 years it has risen by more than $300,000. Vermont South’s median price is lower than other suburbs in the area such as Wheelers Hill, which has a median house price of $838,000, and Blackburn, $1,012,500, according to RP Data.
The bulk of dwelling types in Vermont South consists of separate housing with very little flats or semi-detached housing available. Most of the homes in the suburb are occupied by families (79.8%, according to RP Data) with almost half of the properties being fully owned. RP Data says that on average Vermont South families will be repaying $1,800-$2,400 per month on mortgage repayments.
This four bedroom home at <a href="https://www.realestate.com.au/property-house-vic-vermont+south-118286347" target="_blank">2 Yalita Road</a> (pictured below) is currently on the market with a price guide of $800,000 to $880,000. 
<img src="/images/2014/11/14/vermont%20south%20nov%2014%20one.jpg" alt="">
According to RP Data 10.2% of residents in Vermont South are currently renting. The median rent price per week is $465.
This three bedroom property at <a href="https://www.realestate.com.au/property-house-vic-vermont+south-414429135" target="_blank">8 Shearers Court</a> is offering a renting price of $460 per week.
<img src="/images/2014/11/14/vermont%20south%20nov%2014%20two.jpg" alt="">
Andrew Wilson, senior economist for the Domain Group, believes outer east Melbourne offers strong potential growth.
“The whole outer eastern belt of Melbourne is a strong growth region. It’s been Melbourne’s strongest growth region for last two years with 12.7% growth rate, which is equal highest with inner east prices,” Wilson said.
“Vermont South goes under the radar compared to other suburbs such as Blackburn.”
But he says Vermont South is still not cheap.
“The outer east has had Asian buyers in Mount Waverly and Glen Waverley which has helped push prices up” 
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Suburb spotlight: Vermont South, a neighbourly suburb with strong potential growth

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The Nic Bochsler-designed Highgate Hill, Toorak home of former BHP executive Brian Loton goes to weekend RT Edgar auction with $4 million plus price hopes.
<a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">The 1992-built three bedroom </a><a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">cul de sac offering </a>sits among Melbourne's 1,155 homes listed to go under the hammer in the metro area. 
Australian Property Monitors' senior economist Andrew Wilson says this is well ahead of last weekend’s 977 and higher than the 1,068 auctions conducted over the same weekend last year.
Melbourne’s four weekend average clearance rate now stands at 74.3% compared to 78.8% over the previous four-weekend period.
Melbourne’s south-east reported the highest regional clearance rate last weekend with a strong 84% result.
The next best however were well below led by the outer east with 76.5%, the north east 75.2%, the inner south 71.9%, the inner east 70.9% and the inner city with a clearance rate of 69.5%.
Melbourne’s inner city will host the most number of auctions this weekend with 187 closely followed by the inner south with 183, the inner east with 167, the west 166, the north-east 150, the outer east 148, the north 89 and the south-east  65.
The most popular suburb for auction listings this weekend in metro Melbourne is East Bentleigh in the inner south with 20 followed by St Kilda in the inner city with 18 and a number of suburbs with 17 auctions listed including Mount Waverley in the outer east, Reservoir in the north east, South Yarra in the inner city, Richmond also in the inner city, and Port Melbourne again in the inner city.
 
 
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Nic Bochsler-designed Toorak home headlines Melbourne weekend auction offerings

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It was rather unfairly dubbed the worst house on one of Melbourne's best streets, but that didn't stop 356 Beaconsfield Parade, St Kilda West fetching $3.2 million at recent auction.
It was a two-bedroom, single story house <a href="https://www.realestateview.com.au/Real-Estate/356-beaconsfield-parade-st-kilda-west/Property-Details-sold-residential-7642457" target="_blank">offered through Cayzer's Geoff Cayzer and Michael Szulc</a>.
It was a 296-square-metre corner block, so reflected $10,800 a square metre.
Set on the corner of Mary Street, opposite Catani Gardens and within walking distance to vibrant Fitzroy Street, it had just the one owner since 1981.
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