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

Main Beach

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The Mariner’s Cove Retail Village, and Marina in Main Beach are being offered to the market.
The sale is being made by the Sunland Group.
The asset is located adjacent to the 5-star Palazzo Versace Hotel, also delivered by Sunland Group in 2000, and opposite the Sheraton Grand Mirage Resort.
Sea World theme park is located 1.8 kilometres north of the site.
Spanning 3.95 hectares, the waterfront site comprises the Mariner’s Cove Retail Village with a net lettable area of 4,278 sqm, and the 102-berth Mariner’s Cove Marina.
The Managing Director of Sunland Group, Sahba Abedian, said the decision to take the Mariner’s Cove precinct to market follows the completion of The Spit Masterplan, released in May.
“Capital from the sale of the site will be redeployed to Sunland’s growing south-east Queensland portfolio of residential land, housing, apartment and integrated retail developments, in line with our core business.”
The international expressions of interest campaign, managed by James Branch and Mark Witheriff of Knight Frank will close on 28 November 2019.
The Mariner’s Cove Retail Village is the largest coastal strip development on the Gold Coast.
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International marketing campaign launched for Mariner’s Cove

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The penthouse crowning the newly developed Sea complex on the Main Beach sands has sold for $8.25 million.
The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-130164622" target="_blank">3553 Main Beach Parade</a>, spanning 705 square metres across the top two levels of the building, was designed by acclaimed Gold Coast architect Bayden Goddard.
Accessed through a private foyer, the apartment has four bedrooms and an ocean facing balcony.
The second level is dedicated to the master suite which also has a balcony, flanked by a private lap pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/7/main%20beach%20apartment%201.jpg" alt="">
Michael Kollosche at Kollosche Prestige marketed the apartment as the pinnacle of penthouse living.
Last year Sea scored the highest apartment sale on the Gold Coast for 2018 when the sixth level sub-penthouse of the Louiz Zenonos-developed block sold for $5.6 million. 
It was bought by the rich-lister Tony Quinn and wife Christina, the entrepreneurs behind the VIP Petfoods empire which they sold for $410 million in 2015.
They were buying back into the Main Beach market, having sold their 19th level apartment in the established Axis building nearby for $2,115,000 earlier in the year.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/7/main%20beach%20apartment%203.jpg" alt="">
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Sea complex penthouse at Main Beach fetches $8.25 million

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A beachfront apartment at Main Beach with views of the Coolangatta skyline is now on the market with $5.75 million hopes. 
The skyhome has been offered by Harry Kakavas from Prestige Property Sales PTY LTD.
Positioned on the fifth level of the building, the 367 square metre apartment at 5/3531 Main Beach Parade features three ensuited bedrooms, gourmet kitchen, huge lounge and dining area, second living area, and home office or study with views.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/12/main%20beach%202.jpg" alt="">
The suburb's median apartment house sits at<a href="/developments/main-beach-qld-4217"> $710,000</a>, according to CoreLogic.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/12/main%20beach%203.jpg" alt="">
This article first appeared in The Weekend Australian. 
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Beachfront Main Beach apartment on the market with $5.75 million hopes

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A beachfront Gold Coast penthouse has been listed for sale with a price guide of $9.75 million, which has been recently adjusted down to $8,985,000 price.
The Main Beach sky home has been listed by Michael Kollosche from Kollosche Prestige Agents Broadbeach. 
Designed by acclaimed architect, Bayden Goddard, the 705 square metre home situated at<a href="https://www.realestate.com.au/property-apartment-qld-main+beach-130164622" target="_blank"> 3533 Main Beach Parade</a> comprises of four bedrooms, open plan living and dining setting against Pacific Ocean vistas, gourmet kitchen with marble island bench, and open plan study. 
<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/2018/12/21/main%20beach%202.jpg" alt="">
It also comes with travertine tiled terrace, marble powder room, private pool, and three car parks. 
Other features include Bayden Goddard, and boasting flawless marble, limestone, travertine, timber and stone finishes throughout.
It is close to the upmarket Marina Mirage and Tedder Avenue café and restaurant precinct.
The suburb's median unit price sits at<a href="/developments/main-beach-qld-4217"> $712,500</a>, according to CoreLogic.
<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/2018/12/21/main%20beach%203.jpg" alt="">
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Main Beach, Gold Coast penthouse see's its price reduced from $9.75 million

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Melbourne businessman Giuseppe “Tony” Giannarell has his Main Beach, Gold Coast sub-penthouse listed for auction.
He’s also throwing in a marina berth lease.
The <a href="https://www.realestate.com.au/property-apartment-qld-main+beach-130162006" target="_blank">23rd level Waratah apartment</a> has been owned by Giannarelli family since they paid $1.6 million in 2005.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/14/MAIN3.jpg" alt="">
Robert Graham, of Ray White Prestige, said the marina berth lease would appeal to local buyers moving from large waterfront homes.
It’s a five-year marine berth lease at the Southport Yacht Club.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/14/MAIN2.jpg" alt="">
The property is set for auction on January 28 at Ray White Surfers Paradise Group’s mega auction line-up The Event.
 
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Giuseppe “Tony” Giannarell lists Main Beach sub-penthouse in the 2019 Event auction

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The Harvey Norman CEO Katie Page has secured the sale of one of the Main Beach apartments in her boutique M3565 building.
The $5.5 million sale ranks as the highest price paid for a beachfront apartment in the Gold Coast this year.
The<a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-129127466" target="_blank"> four-bedroom, fourth-floor apartment</a> (above and below), had been initially priced at $7.85 million.
<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/2018/12/14/Page2.jpg" alt="">
The apartment on level five has been re-listed at $5.75 million.
Page, the wife of Harvey Norman executive chairman Gerry Harvey, paid $15.5 million in 2007 for the 882sq m block at 3565 Main Beach Pde.
<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/2018/12/14/Page3.jpg" alt="">
The project was designed by Sydney architect Virginia Kerridge.
The luxury residences hit the market in July 2017.
When they hit the market, Page announced she was <a href="/news/katie-page-to-keep-luxurious-gold-coast-penthouse">keeping the penthouse</a> crowning the development of six units.
 
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Katie Page secures $5.5 million Main Beach apartment sale

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Queensland entrepreneur Tony Quinn and wife Christina have sold their luxury Main Beach sub-penthouse just ahead of its recent auction.
The couple, who sold their VIP Petfoods empire in 2015 for around $400 million, own a $10.9 million Hope Island home nearby.
They recently settled on a $3.4 million Byron Bay beach retreat near Clarkes Beach.
<a href="https://www.realestate.com.au/property-apartment-qld-main+beach-128084554" target="_blank">Their 19th level Main Beach apartment </a>in the residents only, 2005 built, Axis building, cost them $2.62 million.
It comprises 320 square metres of living with three bedrooms, a home office, two living areas and an entertainers terrace with skyline views.
Ray White Prestige Gold Coast agent Jackson Paradise sold the home
After selling VIP Petfoods, the Quinn's spent $25 million buying the iconic Australia confectionary company Darrell Lea. They sold it earlier this year for around $200 million.
They also own two motorsport racetracks in New Zealand where Tony hopes to build a world-class golf course along with residential development.
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Tony Quinn sells Main Beach apartment ahead of auction

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Following his exit from the Gold Coast Suns, Rodney 'Rocket' Eade and wife Wendy have quickly put their Main Beach apartment up for rent.
The couple bought the apartment upon the Tasmanian born coach's appointment, paying $960,000 for the unit in 2015.
They have owned in Malvern East since paying $1,375,000 in 2005.
Set in the Gold Coast's Waratah block, built by Meriton in the mid-1990s on Montgomery Avenue, the apartment is advertised as available for either a 12 or 24 month lease, suggesting they are in no hurry to sell.
The fully renovated 9th floor apartment has two bedrooms, two bathrooms, a home office and a balcony with views of the Broadwater.
Mhm Property Services Main Beach agent James Hall has the apartment listed at $800 a week.  
Eade's coaching career began in the early 90s at the Swans and then the Western Bulldogs before he moved to the Suns.
This article first appeared in The Weekend Australian Mansion Australia section.
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Rodney Eade puts Main Beach apartment up for rent

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A beachside penthouse at Main Beach has been listed for sale.
Located at <a href="https://www.realestate.com.au/property-apartment-qld-main+beach-125814666" target="_blank">93/1 Hughes Avenue</a>, the 1005 sqm property belongs to Bartercard and Carbon Trade Exchange founder Wayne Sharpe.
It was last sold in 1998 for $2 million.
It commands an unrivalled view of the beach, ocean and Gold Coast waterways with two floors.
A large internal living/entertaining areas with centre piece bar opens up to a large outdoor terrace that overlooks Main Beach.
<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/2017/07/05/93_1%20Hughes%20Avenue-2.jpg" alt="">
It also has one of the largest rooftop pools and entertaining terraces in the area complete with a three tonne aquarium.
There are four large bedrooms each having their own balcony with ocean views while the master suite has its own ensuite and walk-in robe.
Other features includes four car spaces, storage, private steam room, wine cellar, rooftop BQ and bar.
Expressions of interest closes on August 2 and is offered through Ray White agent Robert Graham.
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Main Beach beachside penthouse listed with three tonne aquarium

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Health Minister Sussan Ley has stood down from the frontbench while the secretary of the Department of Prime Minister and Cabinet, Martin Parkinson, investigates her use of taxpayer funded travel entitlements. 
Prime Minister Malcolm Turnbull announced she was standing aside without ministerial pay in a statement on Monday morning. 
It has been revealed that she has taken 27 flights in and out of the Gold Coast over recent years - many more than her ministerial colleagues - and spent two New Year's Eve at the popular destination.
It was the emergence of details relating to a 2015 purchase of a Gold Coast apartment that became a political issue last Friday as the minister Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property.
Annika Smethurst, the national politics reporter at the Herald Sun, wrote that Sussan Ley charged taxpayers thousands of dollars for a trip to Queensland with her husband during which she bought a $795,000 Gold Coast investment property wrote that government documents reveal in May 2015.
It was after attending Brisbane’s Wesley Hospital to announce $1.3 billion in funding to list new medicines and vaccines being added to the Pharmaceutical Benefits Scheme, that Ms Ley went to Main Beach on May 9.
She billed taxpayers $370 on her travel allowance to stay the night on the Gold Coast with her partner, on the same day she bought the ocean-view apartment which had previously traded at $830,000 in 2006 when bought by an Ipswich investor, Martin Corkery.
It was bought in her name on May 9. Her partner reportedly has a Gold Coast business business.
The two bedroom, two bathroom apartment is a 149 sqm apartment on the eighth floor in the 31 storey early 1980s complex De Ville.
It had been listed for Ray White auction by estate agent Anna Jones.
The apartment had gone back in price when Ley bought it, having last traded for $830,000 in 2006.
It sold for $455,000 in 2002 and $205,000 in 1984.
Ms Ley confirmed to the Herald Sun the property was bought during the trip, which she declared was for “official business”.
She said the apartment purchase “was not planned nor anticipated”.
“All travel undertaken was in accordance with the rules,” a spokeswoman for Ms Ley said.
Ms Ley’s spokeswoman said the couple had travelled to the Gold Coast because the minister had “stakeholders to meet with” although Ms Ley’s office would not provide the Herald Sun with a list of these people. 
Ms Ley’s spokeswoman said the minister’s partner had been invited to accompany her to a function in Sydney the ­previous evening.
“He then travelled with the minister to Queensland under family travel arrangements.
“The EMB (Entitlements Management Branch) was consulted at the time to confirm Ms Ley’s partner’s travel was within the rules,” she said.
In total, the couple claimed $3949 in flights for the 48-hour trip from her Glenroy, regional NSW base.
The paper noted Ms Ley’s office would not confirm whether the investment property had been negatively geared.
The Opposition health spokeswoman Catherine King says Ms Ley owes taxpayers a better explanation.
“Sussan Ley needs to front up today and explain to Australians how purchasing a luxury apartment is considered to be official business,” Ms King said in a statement.
“If she cannot do this, she has no choice but to resign, or Malcolm Turnbull must move her off his front bench.” Ms Ley must reveal which stakeholders she met with on the Gold Coast, if a government car was used to facilitate the real estate deal, and how an opportunity to spontaneously buy property arose during a work trip, Ms King said.
There were more than 750 comments by readers by late morning on the <a href="https://www.heraldsun.com.au/" target="_blank">Herald Sun website</a>.
Two bedders with ocean views rent at $300 plus a night over summer. The block does not welcome schoolies.
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