Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

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

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

WM Residences fills gap in Mordialloc townhouse market

Development Site

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Two duplex blocks at Burleigh Heads have been bought by local developers.
Set on a total of 1148 square metres of land, <a id="LPlnk616431" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-burleigh+heads-130140470" target="_blank" data-auth="NotApplicable">6 and 8 Ikkina Road</a> were described as a “developer’s dream”.
One block sold for $1.04 million and the other for $925,000, with Ray White selling agent Jackson Paradise indicating the duo were set to rebuild new duplexes.
<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/2019/1/29/burleigh%20heads%202.jpg" alt="">
The 607 square metre block at 6 Ikkina Road consists of a three-bedroom unit and a two-bedroom unit. 
The other 541 square metre holding comprises of two two-bedroom units. 
The properties are in the Koala Park precinct, across the road from Tallebudgera Creek and within walking distance to Burleigh Heads beaches, local cafes, shopping, restaurants and future approved light rail.
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j.ballantyne1990-6AQqhLzZaK

Adjoining Burleigh Heads duplexes bought by local developers at auction

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There are $90 million hopes for a Double Bay development site.
It is the Cross Street holding next to the Inter­Continental Hotel.
Offers close Decem­ber 7 for the 1,334 sqm block at 19-27 Cross Street.
It is on the corner of Transvaal Avenue.
There are plans from architect Luigi Rosselli for a high-luxury seven-storey project, but not yet approved.
It includes retail and a piazza on the ground level with 22 apartments.
The property has been listed by Tri-Anta Pty Ltd who purchased it in 1996.
The six children of the late Stephen and Stella Rose are the vendors through 1st City.
<img src="https://www.urban.com.au/images/2018/11/7/Cross%20Street%20aerial.JPG" alt="">
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$90 million hopes for Double Bay development site

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A Melbourne developer will make home at a boutique development site at West Melbourne after outbidding six rivals to pay $3,815,000 for the property at a lively Teska Carson auction.
Located on the edge of the CBD, the 366-370 Spencer Street property attracted a field of prospective purchasers, including owner-occupiers, developers and investors.
It was knocked down at $600,000 above reserve and at $11,000 a square metre.  
The property comprises a single level commercial building on a 345 square metre site, zoned mixed use with 14 metres frontage to Spencer Street as well as rear access to on-site parking.
It was sold subject to a short term lease at an annual rental of $64,273.
According to selling agents, Teska Carson’s Matthew Feld and Michael Ludski, the property’s location within walking distance of every desirable amenity. 
“ With mixed use zoning and a short term lease, the property offered developers a fantastic opportunity for residential or other types of commercial development, but it also appealed to owner-occupiers and investors who were also attracted to the location and on-site parking,  in a precinct which has fast become a very highly sought after inner-city location,’’ Feld said.
He said well-located sites with development potential were very much on the radar of a wide variety of purchasers especially those that offered an existing income stream
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Developer pays $3.8 million for mixed use West Melbourne site

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A 4,061 sqm development site has sold for $1,725,925 in the Qld precinct of Pinkenba.
Situated at <a id="LPlnk178308" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG4jiEtYQ3WeHgR+6sb+yJYFCnt4bM25Eg0+tCWWf1g38=&amp;rh=ff0042a840c2aec0c81af767c74e83c1f4d3cb3a" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">49 Harris Road</a>, the deal was jointly brokered by Ray White Commercial Queensland’s Director Sales and Leasing Paul Anderson and Sales and Leasing Executive Aaron Aleckson.
“Land speculators are attracted to the Pinkenba story; the TradeCoast location, Brisbane Airport proximity, the new Cruise Ship Terminal and just the very high level of construction activity in the precinct,” Mr Anderson said.
One of 10 in the 'Airport Link' an industrial sub-division comprising land sites in area from 2,036 sqm to say 8,351 sqm.
The holding is just 21 minutes to Brisbane CBD and 15 minutes to Brisbane Airport by car.
“The difference that this estate offers to most industrial land in Pinkenba is sewer connectivity and the attractive GI B zoning,” Mr Aleckson said.
The site was sold to a private purchaser.
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Pinkenba development site sells for over $1.7 million

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An overseas based investor has paid $5.4 million to secure a Northshore development site.
It comes with an extensive holding income.
The 15 Curtin Avenue West premises were sold by Shaw Harrison, Robert Dunne and Will Carman of Savills.
Harrison said the campaign attracted 128 interested parties resulting in 11 offers. 
“We had particular interest with a number of groups that are prepared to land bank and prepare themselves for the next cycle.
"Core located sites with holding income, make this decision much easier."
Harrison added that traditionally an industrial location, Northshore Hamilton is currently being transformed and revitalised into one of Brisbane’s best in class mixed use precincts.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/8/Curtin%20whist.jpg" alt="">
Executive Commercial Sales Will Carman who introduced the buyer said that the international investor was drawn to the property because of the impressive development upside potential. 
“With an existing overlay for up to eight levels of development which would include residential, retail and commercial space it was an opportunity they weren’t prepared to miss,
“The buyer was in town for the week and was keen to transact before they flew home which resulted in us achieving a cash unconditional offer which was a great outcome,” Mr Carman said. 
The 4,641sq m site has strong holding income of $208,955 per annum.
It is currently surrounded by other major development projects which include Frasers Property, Shayher Group, and Multiplex and Brookfield Properties.  
The property is currently leased with an industrial land lease in place and also benefits from additional income from a telecommunications tower situated at the rear of the site.
Carman said the buyer has no immediate plans for the property, but have significant plans in the long term. 
The Northshore Hamilton area has witnessed a significant transformation in recent years, taking the precinct from an industrial hub to a community set to house over 15,000 people.  
The precinct is experiencing rapid growth with the inclusion of McDonalds, Woolworths and Eat Street.
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Savills secure offshore investor for $5.4 million Northshore, Brisbane site

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Austral Bricks has divested two adjoining industrial land parcels in Riverwood in a $41 million sale and leaseback deal. 
The properties at 62 Belmore Road and 111 Bonds Road were sold to a private buyer.
The buildings occupy 90,466 square metres, split across two titles.
Austral has committed to a partial leaseback of 13,263 square meters for a 10-year term with a five-year option.
CBRE’s Ryan Jennings and Jason Edge inked the sale and negotiated the partial leaseback.
Edge said the site held potential for redevelopment and asset repositioning.
“The property is one of the south-west market’s largest infill holdings and, thanks to the size and lexibility of the asset, options for use are many and varied,” Edge said.
Jennings said owner occupiers and tenants had been migrating down the M5 from South Sydney.
“Owners and occupiers are targeting opportunities in Riverwood ahead of the long-awaited Belmore Road motorway ramps,” he said.
“Expected to open in 2019, the two east-facing ramps will offer Riverwood direct access to the M5 South West Motorway – a $32 million project, over 20 years in the making.
“Overall, we have seen more purchasers seeking to invest in the Riverwood area, where they have previously not been looking.
 “The deal was struck following a competitive Expressions of Interest campaign, which had amassed 11 offers at the close of round one – underscoring the increased activity in the area.”
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Austral Bricks sells Riverwood property for $41 million with partial leaseback

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Metro Property Development has secured development approval from Willoughby Council for its Naremburn site.
Located at 155-161 Willoughby Road in Naremburn, the 1,320 square metre site was procured by Metro in late 2017 and will be released to the market as a boutique collection of nine luxury townhouses known as The Nines.
Designed by architects A+ Design Group, the homes will span three levels.
“We are thrilled to move ahead and develop this prominent site in the tightly held lower north shore,” said Phil Leahy of Metro Property Development.
Population growth, demographic changes and lifestyle trends continue to drive demand for a greater variety of housing and we are excited to deliver to the ‘missing middle’ with The Nines.”
The townhouses will be launched in October through sales and marketing agents Ray White Projects Lower North Shore and will be priced from $2.5 million.
The developer recently launched Sierra Residences in the north-west Sydney suburb of Kellyville in Sydney’s north-west.
It comprises of 51 boutique homes ranging from four to six-bedroom configurations.
In 2017 Metro completed its Eden residential estate in Catherine Field, delivering a total of 150 lots to Sydney’s south-west.
The developer also completed 50 luxury town homes at its Fairway Residences located at 88 Centenary Drive, Strathfield.
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Metro secures DA for Naremburn project

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A development site in Camberwell has hit the market, with Savills Australia’s Jesse Radisich, Julian Heatherich, Nick Peden and Benson Zhou appointed to sell the permit-approved site.
Located at 1052-1058 Toorak Road, they say they are expecting the property to generate significant interest throughout the expressions-of-interest campaign. 
The permit includes 33 apartments and four townhouses designed by C. Kairouz Architects, with more than 105 metres of combined street frontage to Toorak Road and Dickens Street.  
“Securing a corner site of this scale in such a premium location is truly rare, and the opportunity is also likely to appeal to aged care and childcare developers/operators, who will no doubt appreciate the large landholding on offer”, Mr Radisich said. 
“This landmark project will provide a genuine luxury product into one of Melbourne’s most sought after and superior residential locations, with an average unit size of approximately 117sqm,” he added.
The site is within close proximity of some of Melbourne retail precincts, including Hartwell Retail Village, Tooronga Shopping Centre and Camberwell Junction, along with education facilities, parks and recreation facilities and public transport. 
The expressions of interest campaign closes October 16.
 
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Camberwell development site tipped to fetch more than $11.5 million

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The Old Slipway site in the East Gippsland tourist town of Lakes Entrance has been listed for sale.
The 5,400 sqm property in the Lakes Entrance central business district is targeting developers to transform the site into a mix of commercial and public space to attract new business investment to the area.
Currently managed by Gippsland Ports, the Old Slipway site fronts directly onto the waters of Cunninghame Arm. It links two commercial precincts and is one of a few waterfront development sites available on the Gippsland Lakes.
Nick Murray, CEO of Gippsland Ports, called the site "an exceptional opportunity" to develop a unique foreshore site right on the Lakes Entrance waterfront.
He suggested in particular the access for boats to the central location opens up many possibilities for visiting boaties and tourism services.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/18/old-slip1.jpg" alt="">
The site, which has been decommissioned for more than 10 years, includes public land, a car park, two timber buildings and a public toilet. It will be managed by East Gippsland Shire Council, with the developer entering into a long-term lease agreement with the Crown.
King &amp; Heath First National is managing an expressions-of-interest campaign.
King &amp; Heath First National managing director Chris Martin said he expected the opportunity to attract an enthusiastic, resourceful and inspired entrepreneur who could see the potential for redeveloping the Old Slipway site into a vibrant new precinct of Lakes Entrance.
"It is rare for such premium land to become available on the shores of the Gippsland Lakes and we anticipate strong interest from developers," Martin said.
"This Old Slipway site provides a once-off opportunity to create a prime visitor destination with the potential to cater to both tourists and locals. There is also an opportunity for the development to extend out into the waterway."
The East Gippsland Shire Council Mayor, Cr Joe Rettino, said a successful development would provide a seamless integration of innovative, sustainable commercial activities, community sites and open space and reflect the long boating and commercial fishing history associated with the site. There was potential to develop cultural and eco- tourism opportunities highlighting the Gippsland Lakes.
"Lakes Entrance is one of Victoria's iconic tourist destinations attracting over half a million visitors a year and growing at 5.6 per cent each year," Cr Rettino said.
"Whoever develops the Old Slipway is perfectly positioned to take advantage of this, by creating a place that encourages both day and night-time use, with options such as waterfront eateries, outlets offering fresh seafood and regional produce, tourist-oriented retail sales, galleries, public amenities and open spaces."
"There also are wonderful water-based opportunities, such as short-stay and itinerant jetty berths to provide access to the town from the water, and safe swimming and wading sites. We want people from both land and water to stop and enjoy the site."
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The Old Slipway on Gippsland Lake listed as development opportunity

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Richmond development sites are benefiting from the ongoing demand for office space and the declining demand for residential projects.
Larry Takis of local commercial property agency Teska Carson said as development site availability is drying up the competition, every opportunity has swelled considerably and they are seeing strong results.
Teksa Carson have sold nearly $18 million worth of development property in since December.
They recently sold a colourful development site at 45 Vere Street (above), which went to a local developer for $5.85 million on a 2.1 percent yield.
There were four developers bidding for the property, which saw a competitive 55 bids before the hammer came down.
Teksa Carson agent George Takis, who sold the property with Larry, called it an 'outstanding result.'
"This was an outstanding result driven by the incredibly hot market for city fringe development sites, especially in and around Richmond," Takis suggested.
"The difference here was the commercial zoning, which lends itself to flavour-of-the-month office development." 
The property comprises two commercial buildings over 1300 sqm including a modern office/warehouse of 323 sqm and a second, older 1000 sqm building.
Both buildings sit on a 1560 square metre site zoned Commercial 2.
The property was sold subject to several short term leases currently returning approximately $122,000 per annum net.
The sale follows several other developer purchases in Richmond, most recently that of 152-154 Murphy Street which was purchased by a developer for $3.55 million, more than $500,000 over the vendor’s reserve.
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