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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A development site fronting the Willows Golf Course in Townsville has hit the market.
The 17,900 square metre holding located on 18 Nineteenth Avenue is a "rare find", according to Knight Frank Head of Projects, Andrew Forster, who is marketing the property.
He estimates that based on the size of the site and the golf course frontage, 28 to 30 residential lots can be created overlooking the course and the Bohle River.
“It is large enough though for a mix of uses including residential units, with its three-level height capacity. Interest from aged care developers has also been received,” said Forster.
"The site is one of the very few large sites zoned for medium density in the Townsville region.”
“This parcel will have appeal to all ages, with major shopping and entertainment facilities within one kilometre and the hospital and university within five minutes’ drive.
 “We are experiencing a very strong recovery in employment in North Queensland, and Townsville is now benefitting from this.”
Australian Bureau of Statistics data indicating over 14,000 people were employed in the region since the closure of the QNI Refinery in 2016.
Knight Frank Townsville has several development sites available for sale in the region, Forster said.
“Properties in regional cities with points of difference in particular attract interest from the national development industry, and this golf course frontage is exactly the kind of point of difference that sets a property apart,” he said.
“There are very few development sites with the zoning and size for a mix of residential uses in this region.”
Residential occupancy numbers have recovered strongly in some housing forms such as three-bedroom units and four-bedroom houses, according to Knight Frank research.
Their research also found rents for three-bedroom units in Townsville improved in early 2018 and the median weekly rent for four-bedroom dwellings in suburbs along the Ross River improved by more than 10% in the March and June quarters this year.
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Development site fronting golf course up for sale in Townsville

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Six development sites amassing 16 hectares hit the market today as part of the Victorian government’s Inclusionary Housing Pilot.
It is an initiative to deliver at least 100 new community housing residences across the state.
Offers close September 6.
The Department of Environment, Land, Water and Planning (DELWP) portfolio encompasses landholdings in Boronia, Broadmeadows, Parkville, Noble Park, Reservoir and Wodonga.
Savills Australia’s Julian Heatherich, Mark Stafford and Jesse Radisich have been appointed to manage the expressions-of-interest campaign.
They expect enquiries to come from a broad range of local and national developers.
“Large, strategically located development sites are becoming increasingly difficult to find across the state,” Mr Heatherich said.
“This portfolio provides an opportunity for one or more experienced developers to deliver a mix of new private, affordable and community housing options in key Victorian locations.”
The Inclusionary Housing Pilot forms part of the state government’s housing strategy, which includes Homes For Victorians (March 2017) and Plan Melbourne 2017-2050 (March 2017).
“The pilot aims to provide greater housing choice for all Victorians by meeting the diverse housing needs of the growing population,” Mr Stafford said.
“As Melbourne’s population continues to escalate at a rapid rate, with eight million residents predicted by 2050, this strategy addresses the critical need to increase the supply of affordable housing.”
The selected sites are positioned in well-established Victorian suburbs, close to retail amenities, parks, schools and public transport.
-       The Boronia site (40 Mount View Road) measures 8.218 hectares and falls within Neighbourhood Residential Zone 3 under the Knox Planning Scheme (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/2018/8/13/DELWP_40%20Mount%20View%20Road%20Boronia.jpg" alt="">
-       The Broadmeadows site (2-16 Nicholas Street) measures 2.162 hectares and falls within the Residential Growth Zone under the Hume Planning Scheme (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/2018/8/13/DELWP_2-16%20Nicholas%20Street%20Broadmeadows.jpg" alt=""> 
-       The Parkville site (87-103 Manningham Street) measures 11,542sqm and falls within Residential Growth Zone 1 under the Melbourne Planning Scheme (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/2018/8/13/DELWP_87-103%20Manningham%20Street%20Parkville.jpg" alt="">
-       The Noble Park site (30-40 Athol Road) measures 2.31 hectares and falls within Public Use Zone 2 under the Greater Dandenong Planning Scheme; the site is vacant and spread across two titles (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/2018/8/13/DELWP_30-40%20Athol%20Road%20Noble%20Park.jpg" alt="">
-       The Reservoir site (16-20 Dumbarton Street) measures 5,976sqm and falls within General Residential Zone 1 under the Darebin Planning Scheme; the site is vacant and spread across four titles (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/2018/8/13/DELWP_16-20%20Dumbarton%20Street%20Reservoir-2.jpg" alt="">
-       The Wodonga site (30 Jarrah Street and 41 Pearce Street) measures 19,220sqm and falls within General Residential Zone 1 under the Wodonga Planning Scheme.  
 <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/2018/8/13/DELWP_30%20Jarrah%20Street%20and%2041%20Pearce%20Street%20Wodonga.jpg" alt="">
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Victorian government to sell six residential development sites

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An owner-occupier beat a land banker/developer with the 300th bid at a marathon auction for 50-54 Duke Street, Abbotsford.
The property sold at $3,126,000.
It comprises a 358 square metre, single level building, currently used as an office, on a 675 square metre site.
It is zoned Industrial 1 with on-site parking for eight cars.
Teska Carson estate agent Luke Bisset said the locale had become increasingly popular with both residential and commercial tenants.
Bisset said that the property had generated 75 enquiries.
It sold $426,000 above the vendor’s reserve.
Biisset said there was a vacancy rate currently tracking at an all-time low in the suburb just four kilometres from Melbourne’s CBD.
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It takes 300? Mammoth auction leads to Abbotsford development site sale

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A 33.5 hectare development site in Rouse Hill, north-west of Sydney, has been listed with $200 million plus hopes.
The property at 285-297 Annangrove Road is being offered for the first time in 30 years.
Knight Frank agents Grant Bulpett says it is expected to draw strong interest from developers looking to be part of the significant growth area.
“It’s not often we see sites of this size that are zoned for multiple uses come to market, so we anticipate it will draw significant interest from large scale developers," he said.
Currently raw farm land, only used for cattle grazing, the future owner will be well positioned to unlock the significant value potential of the site through redevelopment.”
Bulpett is marketing the property with James Reeves and David Morris with an expressions of interest campaign ending July 19.
The site is located between Rouse Hill and Box Hill and in the priority growth corridor of North-Western Sydney. It is set to benefit from the substantial amount urban infrastructure currently underway in the area. 
James Reeves suggested the size of the development site is a rare opportunity.
"The scale of this super lot might be one of the only opportunities in the area for a fully integrated community orientated development which in addition to a masterplanned residential precinct could include hospitals, universities and associated uses," Reeves said.
“The Rouse Hill area is at the coal-face of urban infrastructure with the development of the Northwest Rail Line and the Northwest Skytrain set to contribute to the establishment of the precinct as a major hub in the Northwest."
 
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Rouse Hill site expected to fetch over $200 million

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The Paolucci Group, one of Western Australia’s large property owners, has moved to sell a prized piece of real estate in the heart of Northbridge.
Located directly opposite Perth City Link and the recently opened Yagan Square, the property at 189–199 William Street is touted as being one of the most highly anticipated development opportunities, forming an integral part of the repositioning of Perth’s urban core. 
The 3,721sqm mixed use site is slated for a transformational development, consisting of two 29-storey towers and one 14-storey tower – home to some 190 residential apartments, 127 hotel rooms, retail, food &amp; beverage amenity and public open space. 
The proposed project, designed by international architects HASSELL, holds potential to create a pedestrian thoroughfare connecting William Street, James Street, Nick’s Lane and Roe Street - becoming the new epicentre of Northbridge. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/23/north1.jpg" alt="">
CBRE’s Aaron Desange and Kate Foley are marketing the project on behalf of The Paolucci Group, who has owned the site for 12 years. 
“The opportunity to acquire a privately-owned site of this scale and in this location – which is not a State Government release is truly rare and unlikely to be repeated in the near future," Desange said.
"This is an opportunity to undertake what will be a multi-generational development with long-lasting significance in Perth’s most desirable and fastest evolving urban precinct,” Mr Desange said. 
The property is currently known as Arcade 189 and comprises a two-storey arcade incorporating ground floor retail and food &amp; beverage. 
Tenants include Ezra Pound, No Mafia and Taylorweir International School of Hairdressing on the upper level, in addition to an 89-bay Wilson carpark. The fully leased property provides an annual income of over $1.5 million with a WALE of 3.5 years. 
CBRE selling agent Kate Foley said the opportunity would attract interest from a wide range of buyers, including offshore and domestic developers. 
“The site’s position opposite one of Perth’s largest redevelopment projects, Perth City Link – connecting the city to Northbridge for the first time in 100 years – is a unique opportunity that we expect will be strongly contested,” Foley said. 
“We anticipate strong interest from Asian groups given the attractive holding income, central location, landmark nature of the site and significant scale of development potential. 
"These offshore groups are highly active in the Perth market, with groups from Singapore, Malaysia and Hong Kong – all having secured landmark development sites already.” 
Desange said a number of these groups from Asia are solely interested in the ability to develop premium sites that are then held generationally.
“Market participation for prime sites is generating significant competition among buyers who recognise an opportune time to secure land and benefit from future growth in the Perth market.  Additionally, a number of these offshore parties have access to large amounts of pent up capital and are forming joint venture partnerships with local developers to bolster their onshore expertise.” 
 
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Northbridge development site in WA at heart of suburb's revitalization

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A Brunswick East development site has been sold for $6.3 million.
Marketing agents, Teska Carson’s George Takis and Michael Ludski, said that a local developer has outbid three competitors among the 50 strong crowd for the 1278 square metre property at 5-13 Clarke Street.
They said the result reflects a near record $4930 a square metre.
The property is Zoned Mixed Use, has three frontages and includes a single level, 980 square metre, warehouse.
“The property offered exceptional development potential in one of Melbourne’s fastest growing city-fringe locations, just five kilometres from the centre of Melbourne, within 1.5 kilometres of CityLink and within close proximity of all essential amenities,” Takis said.
“As such it offered developers, and occupiers, an opportunity to take advantage of the significant demand for commercial and/or residential property in one of the city’s most popular inner suburbs.”
Ludski said the Brunswick area was rapidly evolving.
 
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Brunswick East development site sold for $6.3 million

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 A tightly held block of flats at Norman Park has sold for the first time in three decades.
The solid brick commercial investment fetched $1.43 million at its auction which saw nine registered bidders.
It last traded for $115,000 in 1988.
Set on 810 square metres with city views, the block comprises four two bedroom apartments, each with a car space.
<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/2018/3/5/norman1.jpg" alt="">
They sold tenanted at a combined $1,160 a week, or $60,320 per annum. There is no body corporate therefore no body corporate fees.
Place Bulimba Sarah Hackett marketed the McIlwraith Avenue property as an 'unmissable opportunity'.
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Norman Park block of flats sells over reserve

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A Melbourne-based developer has secured four permit-approved Cheltenham properties for $6.5 million before they hit the market.
The 2,867 square metre corner allotment, which encompasses 1-2 Moola Street and 4-6 Barker Street, has potential for 49 units.
Savills Australia’s Julian Heatherich brokered the deal on behalf of a local investor, securing a land rate of $2,260 per square metre or $132,000 per unit.
Heatherich said the sale was a positive sign of the year ahead.
“2018 has kicked off with a flurry of activity, with developers back in force looking for their next opportunity,” he said.
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Off-market Cheltenham development site sale

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A group of 20 Southbank townhouse unit owners in Melbourne have banded together with hopes of securing a combined $25 million as a development site offering.
The four-block property, Coventry Square at <a href="https://www.realestate.com.au/sold/property-apartment-vic-southbank-119872805" target="_blank">77 Coventry Street </a> stands on a 1483 square metre site close to South Melbourne market amid high-rise towers.
The hope for a significantly better return than their separate market rate as recent sales have been around $630,000 for a two-bedroom apartment.
Coventry Square comprises 12 two-bedroom apartments and eight three-bedroom apartments with the proceeds to be divided based on council rate valuation percentages.
Collective sales require approval from 100 per cent of owners.
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<div class="related-quotes section">The Coventry Square offering was put together by Christian Ranieri and Ed Wright of RPM Real Estate Group.</div>
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<div class="related-quotes section">Wright says the site was attracting interest as a possible hotel development given its close proximity to the Southbank arts precinct, and as an office or commercial development which are extremely attractive in the current market.</div>
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Without any immediate approvals, the building will generate rental income with two-bedroom apartments renting for $500-530 per week and three-bedders at $630-660 per week.
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Collective Southbank strata exit with $25 million hopes for 20 vendors

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The Mordialloc boatyard owned by Jack Pompei has sold for $2.85 million, set to be transformed into a residential and commercial development.
The Herald Sun said a local developer secured it through Teska Carson.
The land has been owned by the Pompei family for 80 years.
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The 937 sqm site over looking Mordialloc Creek has a 57m frontage to Main St and includes an 850 sqm, old brick warehouse — the home of Pompei’s Marine since the 1940s.
The late Jack Pompei was awarded an Order of Australia Medal in 1987 for his work in marine search and rescue on Port Phillip Bay, where he was estimated to have rescued more than 600 people.
The nearby bridge over Mordialloc Creek was renamed Pompei Bridge in 2009.
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