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

The Block

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An 860,000 debut audience for latest reality renovation series, The Block Triple Threat, was no match for Seven's tennis coverage last night.
Seven achieved up to 1.7 million watching Kyrgios v Murray. The soccer audience, a combined ABC and Fox Sports, exceeded The Block too.
It was the weakest launch for a series of The Block ever. Maybe everyone is awaiting Darren and Dee!
Last January the Channel 7 series, My Kitchen Rules, easily won the 2014 reality television blockbuster's debut up against The Block on Channel 9.
The initial 2014 OzTam ratings had the MKR audience at 1.67 million.
The Block Fans v Faves in 2014 secured a very respectable 1.14 million opening night five capital city audience.
The premiere of The Block Glasshouse attracted 1.374 million viewers.
The Block Sky High series debuted with 1.312 million in 2013.
Last night's 2015 debut in South Yarra was the 10th season for The Block which began in 2003 at Bondi Beach.  
No sign yet of any promotion for the Johanna Griggs hosted House Rules next series on Seven, whose debut second series debut was triumphant with 1.18 million metropolitian viewers, according to the OzTam ratings.
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jchancellor-FAypfDUnLy

Seven's tennis smashed The Block, which posed no opening night threat

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Before The Block – now in its 10th season over 12 years – there was the television renovation style setter Maggie Tabberer.
Tabberer and her then partner Richard Zachariah were the perfect hosts for the ABC's The Home Show.
While neither where professional designers, they were in the process of renovating their sixth home in six years, so they spoke with expertise.
The towering duo made four series in the early 1990s. 
Of course, who could forget the show's renovation stars: the legendary Montells, with their little house in Balmain. They sold for $400,000 in 1996, with the Sutton Street terrace reselling for $900,000 in 2012.
Maggie hasn't been overly active on the sales front, though last year her all white three bedroom, two bathroom Randwick home sold for $2.4 million (pictured above). 
Marketed as an inspired freestanding sundrenched private oasis inventively built around a central courtyard – featuring a magnificent frangipani tree and a heated pool – it was her home for the prior eight years.
It was 2006 when Maggie, the fashion and style guru, sold her Rushcutters Bay garden apartment in the McLachlan Avenue block developed in the mid-1990s by James Packer and Theo Onisforou.
It too was up for sale last year when the <a href="https://www.rwebay.com.au/1843429/" target="_blank">1 and 2/61 McLachlan Avenue apartment</a>, the size of a house, was offered by Ben David, creative director of the vibrant linen design company Kas who bought the property in 2009 for $2.8 million (pictured below). 
<img src="/images/2015/01/28/main.jpg" alt="">
It was an urban sanctuary in the then still industrial zone of Rushcutters Bay.
The Tabberer touch is still there with the enormous wooden carved doors decorating the dining room.
<img src="/images/2015/01/28/dining%20room.jpg" alt="">
The two level apartment had been sold by Maggie Tabberer in 2006 for $1.7 million to rag trader David Mellick.
More than $3.5 million was sought at its November auction with Jason Boon, of Richardson &amp; Wrench Elizabeth Bay, and Di Grundy, of BresicWhitney, now offering the Belle featured apartment with $3 million plus price indications.
Ben bought it from Roger Melik, a name behind the Roger David group. 
Before that, Title Tattle recalls Tabberer had an Edgecliff abode – labelled the White House after its mid-1980s makeover.
It was 1960 when Maggie moved to Sydney with her daughters from Adelaide. She began appearing on television in 1964, as a "beauty" on panel talk show Beauty and the Beast.
 
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Before The Block, Maggie Tabberer was the television renovation style setter 

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The three teams of returning contestants won't be the only "triple threat" joining the next series of The Block.
For The Block Triple Threat, regular judges Neale Whitaker, Shaynna Blaze and Darren Palmer will be joined by buyer's agents Frank Valentic from Advantage Property, Nicole Jacobs from Jacobs Buying Group and Greville Pabst from WBP Property Group.
Both Valentic and Jacobs have bid on the behalf of buyers in previous season of the show, while Pabst regularly appears on A Current Affair ahead of the auctions to evaluate the properties.
Executive Producer Julian Cress told <a href="https://www.news.com.au/entertainment/tv/channel-9-makes-shock-changes-to-the-block-triple-threat-after-auction-disaster-on-last-years-series/story-fn8yvfst-1227188716170" target="_blank">news.com.au</a>: "Everyone has an opinion on the rooms and the apartments on The Block but no one's opinion matters more for the contestants than the actual buyers on auction day."
"We thought giving them some feedback from people who might be ultimately bidding on their apartment would be a valuable addition to the program."
The decision to bring on buyer's agents as judges has been widely interpreted as a response to <a href="https://propertyobserver.com.au/finding/residential-investment/sales-and-auctions/36684-b-grade-high-street-prahran-location" target="_blank">last season's finale</a>, where two of the couples earned $10,000 and another pocketed $40,000, after three months of work.
But smart contestants for several series have been utilising the views of local agents from the preliminary planning to ensure their apartment matches local buyer demographics.
{mijopolls 80}
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jrichardson-uRX5hFdKfN

Leading Melbourne buyer's agents join The Block Triple Threat

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A $4.2 million refurbishment is planned for the forthcoming The Block Octagonal series.
The development application proposes seven whole-floor apartments, each with three bedrooms.
It is not known how many contestant couples there will be, with rumours of a competition between the alumni of rival Block and House Rules television shows going head to head.
 
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20three.jpg" alt="">
The rooftop of the former Hotel Saville.
At ground level, the Brenchley Architect plans propose a café for 80 patrons.
Stonnington Council has yet to approve the conversion of the recently closed hotel.
The eight level, 34-room octagonal-shaped Hotel Saville in South Yarra was purchased last year by Watercress Pty Ltd, the production company of Channel 9’s The Block for $6.25 million.
The property has close access to popular attractions and amenities such as the Prahran Market, Chapel Street, Fawkner Park, the Botanical Gardens and Albert Park Lake. St Kilda Road and public transport are all nearby, with The Alfred Hospital is just down the road. 
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20two.jpg" alt="">
The Hotel Saville, the site of a forthcoming series of The Block.
Property Observer is aware that in the 1990s, some of its rooms were briefly rented to the Alfred Hospital.
In 2002 the hotel was in the news after it was alleged Reservoir man Shane Chartres-Abbott violently raped a client in a hotel suite, with part of her tongue missing.
The gigolo Chartres-Abbott was arrested shortly after the attack with the victim's blood on his pants and her phone in his bag. With the forensic evidence, medical reports, the victim's testimony and witness statements, Chartres-Abbott presented a bizarre, headline-grabbing defence that he was a 200-year-old vampire.
Chartres-Abbott was subsequently executed outside his Reservoir home in 2003 as he left for the County Court during the rape trial. 
The 3.5 star Hotel Saville of South Yarra, with restaurant, had been trading under various names since its opened in the early 1970s.
With 360 degree views, the property is located at<a href="https://rca.colliers.com.au/property-land+development-vic-south+yarra-501125927" target="_blank"> 1-5 Commercial Road</a>, near busy Punt Road.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20one.jpg" alt="">
A notice at the entry of the Hotel Saville.
Watercress's next series of The Block which is currently being advertised to start next month is on Darling Street, South Yarra.
Their Brenchley Architects plans were lodged for a $2.4 million development application for the <a href="https://www.realestate.com.au/property-unitblock-vic-south+yarra-116269171" target="_blank">South Yarra</a> property. Titled The Block Triple Threat, the show's 10th series follows the 2014 The Block Glasshouse series in Prahran.
The current 12-unit block at 27 Darling Street, South Yarra, (pictured below) will be four luxury triple-storey townhouses.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20five.jpg" alt="">
Watercress paid $5.7 million for the Darling Street site.
 
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The Block Octagonal will have seven luxury South Yarra apartments

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Are you energetic, with a sense of humor?
In a long-term couple, family duo or have an "enduring friendship" with someone who knows their way around a construction site?
Most importantly: are you willing to take home nothing but a "nominal weekly fee" if it all goes pear shaped?
If so, you might qualify for the next series of The Block. 
Potential Blockheads have until 6 February to apply for the series, and successful applicants will begin manically shopping for pendant lights and colour-matched art in April. The first episode will see some contestants eliminated before the competition proper begins.
In your application, you'll need to provide details of your citizenship status, your criminal record, your height (in centimetres, please) and your home. You'll also have to describe your would-be team mate in one word (and in many).
Who's the first to make up when you fight? What would be your 'theme song'?
Lest you think it's all about the human drama, the producers are not just interested in your relationship.
What's your design style? What influences and inspires your design? (websites, magazines, designers, periods)? It's unclear whether hopefuls should name drop Neale Whitaker's former employer, Belle Magazine, or his latest, Vogue Living. However, if past seasons are anything to go by, contestants should answer the former question with something vague but boring like "classic with an edge", "minimalist with a twist" or "clean with a splash of colour".
Applicants are asked to provide photos of themselves and their home or homes, and a five minute video.
Meanwhile, filming is well and truly underway for The Block Triple Threat, and marketing is ramping up. This week, the imaginative and current Channel 9 released ads comparing bearded contestant Ayden to "that guy from The Hangover".  Just think – after an online application, this could be you.
<a href="https://www.9jumpin.com.au/show/theblock/glasshouse/latest/week-11/are-you-australias-next-ultimate-blockheads/" target="_blank">Click here to apply.</a>
{qtube vid:=jBCAgaxda5A}
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Calling would-be Blockheads: The Block now taking applications

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Past contestants Deanne and Darren Jolly, Matt Di Costa and Kim Owen and Bec and George Douros will compete for a place in The Block's upcoming South Yarra season.
It has been long rumoured that Deanne and Darren, pictured below, were participating in the show in 2015, after winning just $10,000 for their efforts on The Block Glasshouse. The three bedroom apartment they renovated this year sold for $1.38 million, with a reserve of $1.37 million.
<img src="/images/2014/11/24/darren%20and%20dee.jpeg" alt="">
<a href="https://www.news.com.au/entertainment/melbourne-diy-favourites-deanne-and-darren-jolly-will-be-back-on-the-block/story-e6frfmq9-1227131758851" target="_blank" style="line-height: 1.3em;">News Corp</a> reports the couple, along with Perth's Matt and Kim and Melbourne's Bec and George will be participating in an elimination round to decide which returning Blockheads will compete against new contestants.
There will be four teams in total, each renovating a three storey apartment in Darling Street, South Yarra (pictured below).
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20five.jpg">
The season, titled The Block Triple Threat, will air in early 2015, with Channel 9 beginning their marketing campaign on television and social media last night, releasing promotional materials featuring the returning contestants and a 10 second television spot.
<img src="/images/2014/11/11/mattkim.jpg" alt="">
Matt and Kim received a $250,000 profit when they renovated a whole level South Melbourne apartment in The Block Sky High, which they sold for $1,205,000. The couple, pictured above, have since gone on to appear in their own renovation show, Matt and Kim to the Rescue.
<img src="/images/2014/11/11/becgeorge.jpg" alt=""> Bec and George, pictured above, also renovated a full level apartment on the Sky High series, coming third behind Matt and Kim's second place effort, with a $242,000 profit. Their third storey apartment sold for $1.455 million. It appears the buyers of the apartments renovated by both Sky High alumni were both investors, with both apartments <a href="/expert-insights/investing/three-of-the-six-block-sky-high-south-melbourne-apartments-for-rental">listed for rent </a>earlier this year.
Since last appearing on The Block, Bec has created a design blog, Bec Marks the Spot, which reports George has been developing property.
Meanwhile, it appears even more former Blockheads will be coming out of the woodwork, with a new show titled <a href="/expert-insights/building/renovation-rumble-showdown-with-the-block-contestants-v-house-rules-contestants">Renovation Rumble</a> in the works. The show, said to be produced by The Block's Watercress Productions and confirmed by Channel 7, will pit former Block contestants against former House Rules contestants. It has a probable 2015 air date.
Pictures courtesy Channel 9.
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Former Block contestants return for The Block Triple Threat

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In the aftermath of the Block Glasshouse auctions, theories about why some contestants made as little as $10,000 profit were abundant.
Just one season before, in <a href="/news">Albert Park's</a> Fans v Faves, all four teams received profits in excess of $500,000.
Most pointed to a particularly shallow buyer pool, thanks to what Property Observer called a <a href="/expert-insights/buying/not-enough-bidding-baby-boomer-buyers-to-boost-b-grade-location-in-the-block-glasshouse-2014-auction-results">"B-grade" location</a>, with little appeal to the cashed-up boomers that usually buy Block properties.
"For Sydneysiders it would be like flogging prestige apartments on Parramatta Road, Annandale, which has very nice houses away from its busy thoroughfare, though without the trams," wrote editor at large Jonathan Chancellor.
According to Michael Townsend, director of Hodges Real Estate St Kilda, an apartment's location on a main road may rule out certain buyers.
"I suppose when we look at apartments, there is definitely certain concessions placed on main road property locations," said Townsend.
"Definitely those on major thoroughfares, with noise and pollution."
<a href="/news">Prahran</a>'s High Street, where The Block Glasshouse apartments are located, has four lanes of traffic, with trams. Down the street is a hybrid car wash-burger diner; across the roads sits a Swinburne University campus.
While a main road location doesn't necessarily cut out buyers, Townsend explained, it will appeal to certain markets more than others.
"When we look at the apartment market as a whole, there are obviously price points and sub price points within that market place," said Townsend.
"There are buyers who definitely graduate towards main hubs and busy areas with cafe cultures and bars and restaurant areas," he said, with younger buyers and investors perhaps more interested in living among Prahran's busier strips.
But for buyers who are willing to spend the prices seen on Fans v Faves (as much as $2.47 million), a main street might not cut it.
"If someone's spending within $2 million on an apartment, they usually have very strict criteria," said Townsend.
"Avoid main roads if you can, avoid busy streets, avoid places with no outdoor space."
Upgraders with $2 million to spend are likely to have lived in areas with considerable room and amenity, Townsend said.
"Premium buyers – owner occupiers – are often coming out of a substantial home on a leafy backstreet," he explained.
"The might ask: 'Why would I sell out of leafy Hawthorn or Brighton or St kilda property? Why would i want to move out to a busy thoroughfare?'"
Those buyers, Townsend said, are more likely to move to a character home in suburbs like Albert Park, rather than an apartment complex in Prahran.
It seems there are certainly those who would pay to live amid the noise and activity of a main road – just not quite enough to make up for the money and time poured into The Block Glasshouse's renovated apartments.
You might also want to read:
<a href="/expert-insights/building/renovation-rumble-showdown-with-the-block-contestants-v-house-rules-contestants">Renovation rumble showdown with The Block contestants v House Rules contestants?</a>
<a href="/expert-insights/building/former-block-contestants-craft-new-careers-in-renovation">Former Block contestants craft new careers in renovation</a>
 
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Do apartments on main roads sell? Lessons from The Block

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After last season's auctions fizzled out, it's good to know that good Blockheads go to heaven – or at least, to have careers in renovation.
Though they may be off our screens, plenty of former contestants from The Block have continued to renovate and refurbish homes. The Block: Where are they now? 
<ul>
<li>Michael and Carlene</li>
</ul>
<img src="/images/2014/11/11/michael%20and%20carlene.jpeg" alt=""> After winning just $10,000 on The Block Glasshouse, Michael and Carlene have hit the ground running. They've launched <a href="https://cedarandsuede.com" target="_blank">Cedar&amp;Suede</a>, a design and construction company. The business is available to work on new builds, renovations or interior updates.
<ul>
<li>Alisa and Lysandra <img src="/images/2014/11/11/Alisa_Lysandra_0118_copy.jpg" alt=""> </li>
</ul>
The twice-appearing twins, who won The Block Sky High and showed up again for Fans v Faves have a homewares retail business, AL Collections. Their products include plenty of items they used on The Block, and even Alisa and Lysandra <a href="https://www.alcollections.com.au" target="_blank">t-shirts and hoodies</a>, for the true devotees.
<ul>
<li>Kyal and Kara</li>
</ul>
<img src="/images/2014/11/11/566768-f1ae33e0-86ee-11e3-8066-beb3483f8e9c.jpg" alt=""> Fans v Faves favourites Kyal and Kara now run <a href="https://www.diverseconstruct.com/" target="_blank">Diverse Design and Construct</a>, a company they launched in the wake of The Block. The young couple work on new residential builds, commercial and retail fit outs, interiors, renovations and custom cabinetry.
<ul>
<li>Brad and Lara</li>
</ul>
<img src="/images/2014/11/11/bradlara_bio.jpg" alt=""> Brad and Lara won the 2012 season of The Block. The couple have put some of their winnings (which includes Brad's share of the profit he made with Dale on The Block Fans v Faves) on a commercial property investment – the Maryville Tavern.
Buying earlier this year, the couple have been renovating the pub. Brad will reportedly be managing the project with the pub's co-owner, his cousin.
<ul>
<li>Matt and Kim <img src="/images/2014/11/11/mattkim.jpg" alt=""> </li>
</ul>
Matt and Kim, who got married earlier this year, have been a little more public about their renovation efforts than other former contestants. The couple hosted a Channel 9 special called Matt and Kim to the Rescue, where they renovated a family's home in three days.
Matt works at <a href="https://www.skyhighrenders.com" target="_blank">Sky High Renders</a>, a polished plastering company, Kim writes for past Block contestant Dani's blog, The Home Journal, and the couple also created styling packages for developer Psaros.
<ul>
<li>Bec and George <img src="/images/2014/11/11/becgeorge.jpg" alt=""> </li>
</ul>
Fellow Sky High couple Bec and George also continue to work in property and interiors. Bec works as the resident interior consultant for developer Nostra homes, while running interiors and fashion blog, <a href="https://becmarksthespot.com.au">Bec Marks The Spot</a>. According to her website, George keeps busy developing properties.
<ul>
<li>Josh and Jenna</li>
</ul>
<img src="/images/2014/11/11/jenna-and-josh-729-420x0.jpg" alt=""> After appearing on The Block in 2011 and 2013, Josh and Jenna seem to have acquired a taste for renovating and flipping properties. The couple have a business called <a href="/expert-insights/buying/blockheads-josh-and-jenna-sell-east-albury-investment-cottage">Bicker Design</a>, which specialises in "interior design, property renovation and pre sale makeovers". Earlier this year, the couple sold their renovated East Albury investment cottage.
Josh and Jenna also have a lighting range at Beacon, with items ranging from $79.95 to $599.00.
<ul>
<li>Dani and Dan <img src="/images/2014/11/11/danidan_bio.jpg" alt=""> </li>
</ul>
Dani and Dan competed on The Block 2012 and The Block All Stars, winning a total of $668,000. Since then, they've been completing two renovation projects, an East Melbourne apartment and a house in Seddon, which will be documented on their online renovation publication and retailer <a href="https://thehome-journal.com" target="_blank">The Home Journal</a>. Dan has also been keeping busy in the past few months as foreman Keith's assistant on the South Yarra set of The Block 2015.
Photos courtesy Channel 9.
 
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Former Block contestants craft new careers in renovation

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The eight level, 34-room octagonal-shaped Hotel Saville in South Yarra has been purchased by the production company of Channel 9’s The Block.
The $6.25 million sale had been <a href="/expert-insights/investing/the-block-south-yarra-octagonal-hotel-saville-mystery">suspected since June</a>, but confirmed only late last week with the Watercress Production Pty Ltd settlement documents seen by Property Observer.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20four.jpg" alt="">
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20three.jpg" alt="">
The $6.25 million purchase through Colliers International accompanied the $1.1 million purchase of the nearby 446 square metre vacant block at 270 Punt Road which was used as a hotel car park.
<a href="/expert-insights/investing/on-the-market-hotel-saville-a-piece-of-the-south-yarra-skyline">The property was sold with a permit for 51 apartments</a>, but could be possibly expected to be converted into eight luxe apartments with common areas.
The 3.5 star Hotel Saville of South Yarra, with first floor restaurant, which had been trading under various names since its opened in the early 1970s, closed in August. Quest Windsor was recommended on the sign on the front door.
With 360 degree views, the property is located at<a href="https://rca.colliers.com.au/property-land+development-vic-south+yarra-501125927" target="_blank" style="line-height: 1.3em;"> 1-5 Commercial Road</a>, near busy Punt Road.
The property was marketed by Colliers as a "premium opportunity well suited to residential developers, hotel/motel developers, home owners and investors".
There was brief consideration of its conversion into strata apartments in 2005 by PAZ Investments. Apartments were marketed from $149,000. In 2010 Paras Bros had an option to purchase. In 2011 there was a $16 million proposal by Longreach Investments that involved construction of a new SJB-designed 10 storey building comprising 74 dwellings, 77 car parking spaces and 84 bicycle spaces along with a convenience shop and food and drink cafe with 77 seats that did not get approval.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20two.jpg" alt="">
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20one.jpg" alt="">
Watercress's next series of The Block is on Darling Street, South Yarra.
Their Brenchley Architects plans were lodged for a $2.4 million development application for the <a href="https://www.realestate.com.au/property-unitblock-vic-south+yarra-116269171" target="_blank">South Yarra</a> property (below). It seems set to be the location of the 10th series which will follow the recent The Block Glasshouse series in Prahran.
The current 12-unit block at 27 Darling Street, South Yarra, will be four luxury triple-storey townhouses.
Watercress paid $5.7 million for the Darling Street site.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20five.jpg" alt="">
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Confirmed! The Block makes octagonal South Yarra hotel reservation

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Guest observation
The aftermath of bidding on our fifth Melbourne series of The Block has been busy and we can’t believe how much interest the auction finale generated.
It was the most watched reality TV program for 2014 with around $2.8 million viewers.
The Block auctions in 2014 are now over and we congratulate all the contestants on their great renovating efforts and feel disappointed for the three contestants who weren’t rewarded for their efforts.  
This year’s Glasshouse contestants earned a total of $805,000 in total, or $163,000 each on average.
The profits (including the winning $100,000 prize):
<ol>
<li>Simon and Shannon: $435,000</li>
<li>Chris and Jenna: $310,000</li>
<li>Maxine and Karstan: $40,000</li>
<li>Michael and Carlene: $10,000</li>
<li>Deanne and Darren: $10,000</li>
</ol>
Last season's winners earned much more, with the total combined profit of $2,426,000, working out to be an average of $606,625 each.
The Block Fans v Faves profits (including the winning $100,000 prize):
<ol>
<li>Chantelle and Steve: $736,000</li>
<li>Lysandra and Alisa: $616,000</li>
<li>Kyle and Kara: $567,250</li>
<li>Dale and Brad: $507,750</li>
</ol>
The previous series' Sky High contestants earned a total of $1,383,000 (an average of $276,600 each).
The Sky High profits (including the winning $100,000 prize):
<ol>
<li>Alisa and Lysandra: $395,000</li>
<li>Madi and Jarrod: $291,000</li>
<li>Matt and Kim: $250,000</li>
<li>Bec and George: $242,000</li>
<li>Trixie and Johnno: $205,000</li>
</ol>
You would also be disappointed if you were the Cameron Street Richmond contestants, who in 2011 won much less, with total winnings of only $225,000. 
Fortunately there was better buying this series, with gross rental returns of around 5%.
Myself and many other real estate professionals believed that the properties would sell in the vicinity of $1.5 to $2.0 million, which was what similar luxury apartments were selling for within a one kilometre radius.
We were bidding for an investor for Jemma and Chris’ apartment (pictured below) with a budget of $1.5 million, but unfortunately we were one of four bidders and it sold to another buyer's agent who was representing a local  investor for $1,810,000.
<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/2014/09/23/2.jpg" alt="">
It ended up being a two horse race, with a young Chinese couple bidding, and after it was declared on the market, there were another thirty one $10,000 bids and the property sold for $310,000 above reserve. 
Simon and Shannon’s apartment was our first choice for an i<a href="/expert-insights/buying/the-buyer-behind-the-winning-block-glasshouse-auction">nvestor who had missed out</a> on a number of properties in the Albert Park series. Many buyers rated the boys’ apartment (pictured below) as the best and as we had overheard other buyers talking budgets of $2 million regarding bidding for this property. 
<img src="https://www.urban.com.au/images/2014/09/23/4jpg" alt="">
We quickly increased the bidding from an opening bid of $1.5 million by another buyer's agent to a $1.7 million bid, as we knew the Chinese couple representing their parents from overseas had already bid to $1.8 million on the last property.
We had seen them have plenty of time to increase in increments of $10,000 in the last auction and they subsequently pushed the price upwards by another $310,000.  
So we tried two quick fire $50,000 knock out bids and we secured the property for $1.9 million which was well under our client’s maximum budget. 
Shannon and Simon’s apartment was definitely what my buyers had indicated they were looking for and I’m very pleased for my client.  
The boys and their builder did do a wonderful job and were deserving overall winners of the show.
We had an investor client who was a local business owner who was keen to snag a bargain (around the $1.6 million mark) for the next auction but we only got one bid in with the Chinese buyers buying Maxine and Karsten’s property to $1,710,000, just $40,000 above the reserve.
This was a lot lower than everyone expected and I personally rated theirs as the best apartment (pictured below), with its north facing sunny orientation and bonus of a potential fourth bedroom.
<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/2014/09/23/3.jpg" alt="">
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
The next auction was Darren and Dee’s apartment which none of our buyers rated due to its smaller size, especially in the living area (pictured below).
<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/2014/09/23/5.jpg" alt="">
There were only a few bidders and it sold for $1,390,000, only $10,000 above reserve. The building of an extension next door wouldn’t have helped as you are now looking out onto a brick wall from your living area.
The last auction was Michael and Carlene’s apartment, which again wasn’t rated highly by our buyers because it was dark and south facing (pictured below). There were only a few bidders and it sold for $1,390,000, only $10,000 above reserve.
<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/2014/09/23/1.jpg" alt="">
The eerie feeling after the last three auctions was similar to the feeling after three out of four houses in Cameron St, Richmond passed in at the Fitzroy Town Hall.
Everyone felt the three contestants’ pain after all the hard work they had put in.
Some interesting point to consider from this year’s auctions on The Block:
<ol>
<li>The properties sold for a total of $8.10 million which was an average of around $7,700 per square metre of building at an average of around 207 square metres of internal living area. There were some good buys as the bigger “The Art” development across the road with fifty apartments sold for around $9,000 per square metre. Valuer Greville Pabst predicted they would sell for an average of $2,480,000 each or $12,000 per square metre. There were also five properties on offer instead of the usual offering of four in previous series which meant buyers had more choice and were spread over more properties. 
</li>
<li>The main road location attracted less buyers than last year’s prime Albert Park location where the properties sold for around $14,100 per square metre of building at an average of around 170 square metres of internal living area.   Half of the buyers last year were home buyers that buy with emotion, whereas all five buyers this year were investors, although my client may move into the property in the future. 
</li>
<li>The growing presence of the overseas Chinese buyer was seen at the first three auctions, where a young couple were bidding for their Chinese parents overseas. Once they had bought at the third property auctioned, the last few properties, which were seen by buyers as less desirable, sold for less.  There were also a number of overseas Chinese investors bidding on the Albert Park apartments, showing their growing presence. 
</li>
<li>Television again didn’t really do justice to the amount of capital that was invested in the internal renovations with a building permit for $600,000 for structural works in the contract as well as all the fittings and fixture renovations and all furniture and furnishings. The massive warehouse style ceilings gave the apartments a real wow factor. They also all had the bonus of an oversized double lock up garage (around 60 square metres in size) and a 70 square metre storage room that was bigger than most 2 bedroom apartments.  The Block producers also invested much capital into the common areas, including a tropical courtyard area.</li>
</ol>
In summary, our fifth auction experience on The Block was another exciting action-packed night. Our other two investor clients were disappointed to miss out on some good buys, although they understand how important it is to stick to their set budgets. 
The TV show continues to have a successful formula and attracted great support from viewers. 
My family and I enjoyed watching the series again and enjoyed being a part of the experience again and this showed again how unpredictable any property market can be.  
The great Australian dream of owning a beautiful home continues to appeal to viewers and this year resulted in great viewing results for Channel 9 and some good results for the successful purchasers.
We look forward to hopefully being involved in our sixth Block series with the apartment conversions at 27 Darling St, South Yarra which they have already started working on.
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