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

Double Bay

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The InterContinental Sydney Double Bay five-star hotel Sydney’s eastern suburbs has been put up for sale with expectations of $150 million plus. 
The hotel is controlled by Ashok Hiranandani’s Singapore-based Royal Group Holdings, which owns a portfolio of hotels, shopping centres, office towers, industrial property and residential developments across the Asia-Pacific region.
A report in the Australian Financial Review, said Royal Group reportedly spent about $100 million refurbishing the 140-room hotel, said the report. UK hotel giant Intercontinental took over as operators in November 2014 after the refurbishment. 
The Cross Street property was bought in 2013 for $57 million by Hiranandani’s, Royal Hotels Australia. It had previously sold to the Valad Property Group for $81.5 in 2008. It will be Royal Hotels’ fifth in Australia.
The former Ritz Carlton Hotel-turned-Stamford Plaza was a hotspot for visiting royalty such as Princess Diana, Madonna, Sir Elton John and former US President Bill Clinton, before languishing. 
The marketing is being handled by JLL Hotels &amp; Hospitality CEO Craig Collins.
The property stands on a freehold site of more than 3670 sqm, with six retail tenancies and a 156-space underground public car park.
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jonathanchancellor-7SQnKwU6yx

Sydney's five-star InterContinental Double Bay listed

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TOGA has sold all 13 apartments in its new Double Bay development; ahead of the sales suite opening to the public.
The Hunter is a $50-million boutique-style development located on Cross Street.
The buyers were from its registered database of clients.
They sold within a fortnight of pre-marketing.
TOGA Development &amp; Construction Chief Executive Officer, Fabrizio Perilli said 10 of the 13 apartments sold to owner occupiers.
Double Bay’s newest luxury address will be anchored by a boutique ground-floor retail precinct with a mix of cafes, restaurants and wine bars in a nod to Double Bay’s European character.
The JPR Architects-designed building will feature a contemporary terraced facade with shuttered balconies above the retail precinct to create a European-inspired connection between the private and public domain.
Construction at is scheduled to commence in mid-2017 with completion expected in early-2019.
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j.ballantyne1990-6AQqhLzZaK

TOGA sells out The Hunter at Double Bay

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Property developer Toga will build a luxury mixed-use development on Cross Street Double Bay named The Hunter.
The $50-million development will feature 13 apartments across six-storeys and will include a mix of one, two and three bedroom apartments.
Construction is scheduled to commence mid-2017 with completion expected in early 2019.
It will be anchored by a ground-floor retail precinct.
Fabrizio Perilli, Toga chief executive of development and construction said the development will create a haven for affluent purchasers looking to maintain a low profile yet live lavishly in the heart of Double Bay.
“Our vision is to create luxury apartment living akin to the style of urban living preferred in Paris, London or New York.
“The Hunter will enhance the urban fabric of Double Bay’s north precinct as well as meet the future needs of the community by adding diversity to the suburb’s dining scene."
The development will offer a 333sqm penthouse with north-facing district views.  
Sales begin later this month. Registrations of interest for The Hunter can be made <a href="https://www.thehunterdoublebay.com.au" target="_blank">here</a>. 
Toga Developments paid just over $11.2 million for 16 and 18 Cross Street in early 2015.
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Toga to develop luxury apartment property in Double Bay

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The redundant Double Bay harbourfront apartment of the boss of the Packer casino empire, Rob Rankin has sold amid all his distractions.
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-double+bay-122784906" target="_blank">It had been listed through Christie's agent Ken Jacobs</a> with hopes of $4.95 million.
Initially listed in 2008 and then four months ago, the three-bedroom 275 sqm apartment is on the ground floor of Gladswood House, a sandstone residence near Redleaf Pool.
The 1850s-era Gothic mansion was converted into seven luxury apartments in the late 1990s.
Rankin and his wife, Paula retain Woodlands, a colonial mansion in Woollahra, bought from adman John Singleton for $6,825,000 in 2003. 
In 2006, the Rankins paid $7 million for a Palm Beach house that had been the home of the late Frank Markovic. They added a neighbouring Palm Beach property for about $5.7 million in 2010.
This article was first published in the Saturday Daily Telegraph.
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firstname1-iYD4UYzvBa

Rob Rankin sells Double Bay Gladswood Gardens apartment

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BrickX, a new innovative trading platform that offers part ownership of properties, has bought a two bedroom Double Bay apartment. The initial entry price for investors will be $95.
The new fractional ownership platform, that allows the online purchase and the sale of 'Bricks', have paid $1.305 million for the Ocean Avenue property.
The <a href="https://www.realestate.com.au/property-apartment-nsw-double+bay-123223142" target="_blank">recreated Art Deco apartment</a> in the heart of Double Bay is a mid level apartment with grand-timbered entrance foyer, high ceilings and a marble bathroom.
Raine &amp; Horne Double Bay selling agents Louise Snowden and Molly Bellemore described the home as 'a nod to Manhattan style'. There were three bidders including John Spender QC.
It last traded for $655,000 in 2010.
BrickX is offering an innovative way into the housing market for young home buyers, with fractional investments starting from as little as $67 in residential properties.
The Double Bay bricks will be initially priced at $95. The settlement date for the first buyers will be late October. There is debt funding on the acquisition. Its expected rent will be $850 a week.
Anthony Millet, the BrickX chief executive, said they were working towards having 100 properties. A waiting list has been commenced for potential investors in the Double Bay investment trust.
To read more about BrickX, click here.
 
 
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BrickX purchase Double Bay apartment 

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The longtime Double Bay home of the late Commonwealth Games chief, and boxing official, Arthur Tunstall has been sold for $3.17 million to the developer Henry Handaru, founder of GBE Property.
The modest freestanding property has been listed with reported expectations between $2.1 million and $2.2 million.
The 200 sqm South Avenue property last traded when bought by Tunstall's father-in-law in the 1940s for £420.
It was then a single storey worker’s cottage, but now two storey, four bedroom home.
Tunstall, who met his future wife, Peggy at nearby Redleaf Pool, moved in around 1950.
Tunstall, who died in February, had been listed in the Sport Australia Hall of Fame as a "pioneer voluntary sports administrator."
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Arthur Tunstall's Double Bay home sold

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A charming top floor apartment in the Maranoa building in Double Bay has been listed for sale.
The <a href="https://www.realestate.com.au/property-apartment-nsw-double+bay-122731850">listing is </a>set at the rear of a non-waterfront block of seven.
The Gladswood Gardens apartment has three bedrooms, two bathrooms and a balcony off the living and dining area.
The interiors have been updated throughout, balancing traditional and contemporary styles.
The property is advertised by Laing + Simmons Double Bay agent Wayne Yates.
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Double Bay trophy apartment listed

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The top sale of the week was a three bedroom apartment Sydney's Double Bay, according to CoreLogic RP Data. 
The property, 5/16 Court Road, Double Bay, (above) sold for  $4,510,000 through Agency by Alison Coopes.
 
CORELOGIC RP DATA TOP TEN SALES
5/16 Court Road,  Double Bay, NSW  3 bed, 3 bath, 2 car unit  $4,510,000  Agency by Alison Coopes 
24 Elwin Street,  Strathfield, NSW  5 bed, 2 bath, 2 car house  $4,510,000  Strathfield Partners  Strathfield 
14 Richmond Road,  Seaforth, NSW  5 bed, 3 bath, 2 car house  $4,325,000  Clarke &amp; Humel Property  Manly 
8 Rutherford Avenue,  Burraneer, NSW  4 bed, 3 bath, 2 car house  $4,220,000  Highland Property Agents  Cronulla 
6 Leighton Court,  Toorak, Vic  3 bed, 4 bath, 2 car house  $4,200,000  Melbourne Residential Real Estate Southbank 
52 Lady Penrhyn Drive,  Beacon Hill, NSW  4 bed, 5 bath, 2 car house  $3,965,000  Smile Real Estate  North Sydney 
131 George Street,  Avalon Beach, NSW  4 bed, 4 bath, 2 car house  $3,775,000  Raine &amp; Horne  Palm Beach 
1801/3 Kings Cross Road,  Potts Point, NSW  3 bed, 2 bath, 2 car unit  $3,550,000  Richardson &amp; Wrench  Elizabeth Bay/Potts Point 
155 Peninsula Drive,  Breakfast Point, NSW  4 bed, 2 bath, 2 car house  $3,250,000  Raine &amp; Horne  Concord 
131 Sir Bruce Small Bvd,  Benowa, Qld  5 bed, 6 bath, 5 car house  $3,000,000  Ray White  Broadbeach
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mick.cee-iDmgDDAmu8

Double Bay apartment leads CoreLogic RP Data's top ten sales

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Downsizing art dealer Marlene Antico sold her 1930s Double Bay apartment for $1.3 million.
The cosy three bedder was on the fourth floor of the 1930's Princeton art deco block. 
Around $1.2 million had been tipped for the apartment at the rear of the New South Head block.
It sold through James Dunn at Richardson &amp; Wrench Double Bay.
Antico bought the 125 sqm apartment in 2012 for $840,000, having sold her Bellevue Hill apartment for just over $1 million.
Her next gallery exhibition features the works of her son Chris Antico.
 
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jchancellor-FAypfDUnLy

Marlene Antico sells in Double Bay

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Historic Double Bay estate Elaine has become the most expensive property in Sydney after agents set an official price tag of $80 million.
The trophy home, which sits over 6900 sqm on the harbour, has been on the market for two years and would set a new Australian price record.
<img src="/images/2016/02/08/point-piper-feb-25-one.jpg" alt="">
The current record stands at $70 million, set last August with the sale of the Vaucluse mansion of billionaire James Packer.
The estate fronting Seven Shillings Beach has been rebranded as Elaine Gardens, given it is now also an approved multi-home development site.
“It is eligible to be purchased by foreign non-residents,” Ken Jacob’s of Christie’s International Real Estate advised.
“It is one of the world’s most exciting development opportunities,” he said.
The estate was listed for sale in late 2013 with a Fairfax Media report of a $100 million price estimate that was an ill-informed estimate by another estate agent.
For more than 125 years it has been in the hands of the Fairfax family.
Its vendor, businessman John B. Fairfax says, while the property has had not been short of suitors, he deemed it necessary to get approval of development plans, “ensuring a respectful outcome for their treasured estate while delivering certainty for buyers.”
“We had hoped, and still do hope, the property would sell in a single line,” John Fairfax said.
“Over a number of months there has been limited appetite for this.
“Having grown up in the house it has always been my intention to manage the current process in a careful and responsible way.“
<img src="/images/2016/02/08/doublke-bay-sept-18-one.jpg" alt="">
As a four lot subdivision, Ken Jacobs has also suggested an anticipated price range of $25 million to $27.5 million for each of the two new harbour front sites, $13 million to $14 million for the Elaine homestead block and $4 million to $4.4 million for the coach house.
The option of subdividing the 6,900 square metre estate has been on the books since a 1980s council approval for subdivision.
To watch the video showcasing Elaine, <a href="https://www.propertyobserver.com.au/https://vimeo.com/149120164" target="_blank">click here</a>.
This article was first published in The Saturday Daily Telegraph. 
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