The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

Industry News

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Kim Williams has taken a non-executive directorship at the international property media group, Executive Channel.
The former boss of News Corp in Australia has joined the Pyrmont-based company which sells advertising space in offices.
Bill Muirhead, founding partner of advertising agency M&amp;C Saatchi, and Media i managing director Chris Winterburn are other new appointees to the board.
<a href="https://www.executivechannel.com.au/Default.aspx" target="_blank">Executive Channel </a>provides advertising space on high-definition video walls, digital screens in office foyers, in lifts and even corporate car parks.
Its most recent installation was six new 55" digital directory boards at One Farrer Place, Sydney.
It has installations in property held by property trusts including AMP Capital Investors, Brookfield, Charter Hall, Colonial First State, Cromwell, DEXUS, ISPT, GPT, Lend Lease, Investa Property Group, QIC, Stockland, Valad and Westfield.
The Executive Channel Group executive chairman is Bruce Fink. It three founders were Bruce Fink, Charles Parry-Okeden and Craig Cohen.
 
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jchancellor-FAypfDUnLy

Kim Williams joins Executive Channel property media group

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The Ray White Group set a new all-time record for the company in October, recording $3.5 billion worth of sales across Australia and New Zealand.
The New South Wales branch managed to earn $1.1 billion dollars in sales, while the commercial division was up 90% on this time last year.
Group chairman, Brian White said the results reflect “the best property market in memory”.
“We saw commercial markets producing fabulous results in all sectors. The power of the property market in Sydney stood out more than ever this month,” White said.
Ray White’s<a href="/expert-insights/investing/ray-white-secures-record-3-billion-in-wintery-july-2014-property-sales"> last record sales month</a> was back in May of this year, when they posted a $3.2 billion net return.
The best performing Ray White offices in October included Glen Waverley (VIC), Double Bay (NSW), Remuera and Auckland Central Commercial (NZ) as well as New Farm, Surfers Paradise and Ascot (QLD).  
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owisniewski-RiYLqnXfKH

Ray White achieve new monthly record on the back of soaring commercial returns

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A partnership between Connect MyProperty and E-House (China) Holdings Limited will allow the Australian company to access 80 million Chinese buyers registered with E-House.
Connect MyProperty, headquartered in South East Queensland, markets Australian real estate offshore and offers services for international buyers, including assistance with Foreign Investment Review Board regulation processes. According to Connect MyProperty, the company converts online listings for "premier" properties to secured sales.
E-House (China) Holdings Limited is listed on the New York stock exchange.
The Australian property section of SINA Haiwai, E-House's international subsidiary real estate site, may now be used exclusively by Connect MyProperty for listings. The wider SINA Leju property portal, of which SINA Haiwai is a part, records about 40 million hits per month.
Last month, SINA Haiwai and Connect MyProperty began conducting tours of Australian properties and developments, beginning at the Foreign Investment Review Board-approved Sanctuary Cove development.
SINA Haiwai real estate general manager Irene Zheng said the company was pleased to be working with its new Australian partner.
"We've always viewed Australia as an attractive place to do business given it is the 12th largest economy globally, it is in close proximity to China, and has a transparent and well-regulated business environment that is the envy of many countries around the world," said Zheng.
"We have been looking for an independent partner in Australia for some time that could help bridge the gap between Australia and China such as language, cultural customs, and regulations in both countries.
"Connect MyProperty's mutual desire for an online-to-offline model and a strong focus on direct, face-to-face communication provides a truly effective and integrated offer for the 80 million members of our Property Buyers Club."
Preston Richardson, Connect MyProperty Director, said the partnership would strengthen Australian-Asian economic ties.
"In particular, the indirect flow-on effects of our partnership have the strong potential to increase the productivity of the construction industry by creating more infrastructure investment opportunities, more developments, and more construction jobs for Australians," says Richardson.
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jrichardson-uRX5hFdKfN

Deal delivers Chinese buyers club to Australian industry

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Bob Johnston will head the Frasers Property Australia and Australand Property Group combination.
Having guided ­Australand since headhunted from Lend Lease in 2007, Johnston will head the diversified property groups with over 500 staff across the country.
The chief executive of Frasers ­Property ­Australia, Guy Pahor will step down as chief executive though he will remain with the new group as an adviser, the Australian Financial Review reports.
Australand was taken over for $2.6 billion by the Singapore-based Frasers Centrepoint earlier this year.
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Bob Johnston to head Frasers Property and Australand combination

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As previously foreshadowed, Country Garden is ­sizing up buying Meriton from the 82 year old billionaire Harry Triguboff.
But the talks are still very early, given what the boss of one of China’s bigger property ­developers has told the Australian Financial Review.
“We get along very well. We have talked about how we can expand and progress Country Garden’s ­development in Australia,” Country Garden Australia chief executive Johnson Zhang said in an interview.
He said a good business relationship exists between the two men, known as “guanxi” in Mandarin.
“It is still too early to make any ­definitive comments on the Meriton sale. [There is] a long way to go to confirm the sale and the price,” Zhang said.
“But when we meet he talks about selling his company. And if Mr Triguboff wants to sell Meriton, he would want to ensure that it is in the hands of someone who will look after it and grow it.”
“As for the $10 billion, well that’s Mr Triguboff’s words,” Zhang said.
“To determine if that is a good price anyone would have to run a detailed series of valuations to determine the value of this private company.
“What he says in public may not be the actual amount in the end.
“Meriton doesn’t have public ­information so we cannot comment whether $10 billion is good or not.”
In Chinese, Zhang speaks of Triguboff’s friendship very highly.
“There is a saying, ‘qing chu yu lan’ which means the student has the ­potential to achieve greater from what the teacher has already done,” he told the AFR's Su-Lin Tan.
“He’s my senior and he is teaching me a lot about ­property ­development in Australia.”
In June, <a href="/expert-insights/buying/ryde-garden-debut-for-country-garden-australia">Country Garden was revealed as the likely suitor</a>.
The Chinese property development company bought their first Australian development site in late 2013 at North Ryde. 
Country Garden is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family. It focuses on building high-end residential property.
Founded in 1992 and listed on the Hong Kong stock exchange since 2007, it is controlled by China’s richest heiress, Yang Huiyan.
Their newly released Ryde Garden development (pictured above) is a trio of buildings each have its own rooftop garden.
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
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Country Garden mulls $10 billion Meriton foray

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Previously there was always the $6 billion figure bandied about for the prized Meriton empire.
But ABC Radio corned Harry Triguboff on his real desire.
"I think it should be in vicinity of $10 billion" <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-10-30/harry-triguboff-wants-to-sell-his-property-empire/5854228?section=business" target="_blank">he told the ABC The World Today's business reporter Pat McGrath</a>.
The veteran property developer <a href="/news/harry-triguboff-formalises-meriton-empire-sale-process">is in confirmed talks</a> with a local subsidiary of the Chinese-based buyer for the sale of his Meriton property empire, Bloomberg reported earlier this week.
Meriton, the nation’s largest home builder, has previously been in cursory discussions with Asian-based property developers.
Triguboff told Bloomberg he met with the suitor last week. 
“I showed them my valuation, they’re looking at their valuation; that’s what we’re doing now.”
Triguboff, who has previously valued the business at over $6 billion, said he would only offload Meriton in its entirety.
But adding it was a lifelong job, Triguboff also countenanced family continuation of the company.
Picture of Harry Triguboff courtesy of Wikimedia Commons.
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Meriton's Harry Triguboff says $10 billion is his asking price

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Veteran property developer Harry Triguboff is in confirmed talks with a Chinese-based buyer for the sale of his Meriton property empire, Bloomberg has reported.
Meriton, the nation’s largest home builder, has previously been in cursory discussions with Asian-based property developers.
Triguboff told Bloomberg he met with the suitor last week. 
“I showed them my valuation, they’re looking at their valuation; that’s what we’re doing now.”
Triguboff, who has previously valued the business at over $6 billion, said he would only offload Meriton in its entirety. <a href="/news/meritons-harry-triguboff-says-10-billion-is-his-asking-price">The price has since been revealed as $10 billion</a>.
“It’s of great interest for me to sell,” Triguboff told Bloomberg.
Picture of Harry Triguboff courtesy of Wikimedia Commons.
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Harry Triguboff formalises Meriton empire sale process

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Ardoch Youth Foundation will receive a portion of the sale price of a St Kilda East apartment block after it is auctioned today.
Selling agents Hodges St Kilda will also contribute a portion of their commission to the charity.
The apartment block at <a href="https://www.realestate.com.au/property-unitblock-vic-st+kilda+east-118045907" target="_blank">105 Westbury Street</a>, on a 760 square metre plot, was formerly a halfway house. There are now two period apartments on the site and a three level town house at the rear of the plot.
According to listing information, the property falls within the General Residential Zone, which allows multi-unit development, subject to council approval. It's located within walking distance of Carlisle Street and Balaclava cafes and restaurants.
Vendor Andrew Robinson, who has owned the five-apartment block for almost 25 years, will be making a donation. He is a volunteer for the Ardoch Youth Foundation and runs music classes for disadvantaged young people.
The Ardoch Youth Foundation provides education services for young people experiencing barriers to education. They support Port Phillip Bay schools including St Kilda Primary, Elwood College and Elwood Primary School.
The auction of 105 Westbury Street will take place at 1pm, 29 October.
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Slice of proceeds from St Kilda East sale to go to local charity

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Gerard Smith Design took home three awards at the first ever National Building Design Awards last week.
River House, in the Sunshine Coast, won  National Building Design of the Year, Best Residential Interior Design and Best New Residential Design for homes with a construction cost over $1 million.
According to Smith, the house's natural surroundings were a central focus of the home's design.
"Our objective was to incorporate natural products and complement the natural landscaping on the exterior of the home, which formed the inspiration for the palette of materials and colours used throughout the interior," said Smith.
The house's interiors feature polished concrete, natural stone tiles, hardwood timbers and wool carpet.
"We used these materials in the joinery to work in harmony with the other natural materials in the home and with the natural environment," he said.
The home's design takes full advantage of its waterfront position, with water views available through the living space upon entry. The open living space offers views to the pool, landscaped courtyard or river from every position.
On the upper level there is an expansive master bedroom, complete with walk-in-robe, concealed kitchenette and parents' retreat area.
The ensuite includes a raised bath overlooking the water, while a wraparound balcony also delivers river views.
The the merits of entries in the National Building Design Awards were considered in terms sustainability, success as a design solution, relationship of internal and external spaces, utility, quality and balance of internal and external aesthetics.
Grand Designs host Kevin McCloud, who presented the awards, called River House "a delightful and triumphant design".
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Sunshine Coast's River House wins big at inaugural National Building Design Awards

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A boutique family business has won the 2014 Victorian Master Builder of the Year award in the residential category with a distinctive Elwood home.
Peter and Ann Marie Apostoli's <a href="https://armadillohomes.com.au/" target="_blank">Armadillo Homes</a> designed and built the winning house around an existing structure – a 1920s brick home that had undergone significant destructive renovations.
The house now features three levels where there were once two, each with ocean views.
<img src="/images/2014/10/24/Armadillo%20living%203.jpg" alt="">
Master Builders chief executive Radley de Silva described the site's previous house as a "signature property in a prime location" that "had lost its character and purpose".
Of Armadillo Homes' work, de Silva said: "Their vision was to restore the spirit of the home in a way that honoured its past through a modern and innovative interpretation of a family home and they achieved this brilliantly.
"Armadillo Homes attention to detail was impeccable in restoring this home beyond its original glory."
<img src="/images/2014/10/24/Armadillo%203rd%20level%20side%20view.jpg" alt="">
The house's distinctive copper cladding reflects Armadillo Homes director Peter Apostoli's interest in the durability and sustainability of age old building methods. Stone, stainless steel and recycled timber are also used throughout the home.
Constructed using low maintenance materials which develop with time, the contemporary home has enduring appeal, rather than conforming to the fleeting fashions of the moment.
Internal structures of the existing house were removed to improve flow, light and the relation of internal spaces to the external environment.
 <img src="/images/2014/10/24/Armadillo%20kitchen%20full%20view.jpg" alt="">
Views from all three levels have been enhanced, while lower level of the home now spills out onto the outdoor entertaining and pool area via aluminium stacker doors.
 <img src="/images/2014/10/24/armadillo%20alfresco.jpg" alt="">
Armadillo Homes is a small company, developing a low volume of high quality homes. Peter Apostoli told Property Observer the business delivers bespoke end-to-end services.
"We sit down with a customer and develop their ideas, right through from the conceptional brain storming to the final fitout and even custom furnishings if required," said Apostoli.
Their intention to create custom homes with lasting value is apparent in their choice of materials and construction methods, and sets the Elwood home apart from many new family residences in Melbourne – "foam boxes", Apostoli said, that he prefers not to work on.
After winning the Victorian Master Builder of the Year award, Armadillo Homes will compete at the 2014 National Excellence in Building and Construction Awards on 21 November.
According to Master Builders' de Silva, Armadillo Homes "typify the quality craftsmanship, dedication and passion of Victorian Master Builders".
"As with any art, the true art comes from passion and hard work," said Apostoli.
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