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

Moss Vale

National property developer and construction group, Traders In Purple, has plans for a $65 million development in the Southern Highlands.

The group acquired the 2.1-hectare Argyle Street site in Moss Vale back in November 2021.

They will deliver 52 residences to the area, with the intent to provide wider living options for local downsizers and families who have been priced out of the Sydney market.

A mix of three and four-bedroom terraces and villas will be delivered, each benefitting from a generous courtyard. The residences will sit alongside a proposed Village Green, designed as an open space for residents to enjoy the outdoors and interact with their neighbours.&nbsp;

Bonus + Associates designed the project to feature high pitched roofs, along with an abundance of landscaping. Six free-standing homes screened by existing trees are proposed on Argyle St, in keeping with neighbouring homes, with the townhouses and villas set behind. The interiors have been designed by Duet, who have previously collaborated with Traders in Purple on the luxury boutique farmstay, Greyleigh.&nbsp;

Each of the residences will also be fitted with solar photovoltaic panels so that future residents will be protected against rising energy costs.

Traders In Purple National Marketing and Sales Director Nathalie Pasterfield said community feedback had shown a positive response to the architectural style of the development which reflected the country charm of the Southern Highlands.

“Our architects, Bonus + Associates and Duet, are incredibly talented at creating places that are contemporary but homely and this is what the community is telling us they want to see at Moss Vale,” Pasterfield said.

“There are also practical considerations that we have taken into account such as sustainable homes with renewable energy, private outdoor living space, natural light and a pleasant garden outlook.

“We tweaked some aspects of the design but were encouraged to see many who took part in the community consultation already looking forward to seeing this project come to fruition.”

Moss Vale is around 90 minutes drive from Sydney and has become increasingly popular as a preferred destination for residents, away from the tourist bustle of Bowral. Around 56 per cent of Moss Vale residents are singles or couples without children yet 86 per cent of homes in the locality are separate houses with very little medium density housing available.

Traders In Purple NSW Development Director Thomas Zdun said the development proposal had been shaped after consultation with the local community who were looking for an alternative to the limited range of housing types currently available.

"There is clearly high demand for homes that offer a low maintenance lifestyle so that people can move out of houses that are now too large and difficult to maintain,” Zdun said.

“The lack of medium density housing in Moss Vale is forcing many older couples to remain in homes that are no longer appropriate to their needs. They have lived most of their lives in Moss Vale and want to remain in a place where they have friends and a strong support network but can’t move because there is no suitable housing available.”

“We also spoke with a number of young families and couples unable to afford the high price of a house in Moss Vale where the median price has risen 30 per cent in the past 12 months.”

“With the option to work from home during Covid, a number of young professionals and families moved to well-established regional areas like Moss Vale but there are also many who grew up here and want to remain close to family and in the town they know and love.”

The site is situated opposite the Moss Vale Services Club and is within walking distance to the town centre, along with the train station, Moss Vale Public School, with the group planning to launch to the market in late 2023.&nbsp;

alisonwarters@gmail.com

Traders In Purple plan residential development to meet Moss Vale’s medium density housing shortage

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Cheplakwet, the historic 1890s Moss Vale home with views across Throsby Park Estate to Mount Gibraltar, has sold.
<div>
Set atop a north facing knoll on 3.6 hectares, Cheplakwet was occupied by one family for 100 years before it sold for $595,000 in 1998.
It last traded for $1.2 million in 2013 and has been fully updated over the last couple of years. It was first listed last May.
<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/2020/5/11/moss%20vale%202%20.jpg" alt="">
The home has four bedrooms, a baronial living room, dining room with wood fire and a country kitchen that opens to a north facing verandah. 
There are separate staff quarters that comprise a bedroom, bathroom, sitting room and second kitchen with original fireplace.
<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/2020/5/11/moss%20vale%203.jpg" alt="">
In the grounds are several grazing paddocks for cattle, horses or alpacas.
Margaret McCauley from Margaret McCauley Real Estate Bowral sold the property.
</div>
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Historic 1890's Moss Vale trophy home sold

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<div class="storysegment2 segmentContentFull">
Test quickie Pat Cummins has his Southern Highlands investment cottage up for rent.
It seems right for these times of self-sufficiency that the Moss Vale bungalow comes complete with vegie garden and chook yard. Inside is a slow combustion heater. He quietly paid $906,000, while ripping wickets out of the ground during the now-distant win over England in The Ashes in August 2019.
The Clovelly-based bowler quickly leased the property after settlement. It came with a $550-a-week asking rental, reflecting a 3 per cent yield.
The three-bedroom home with study is now back for rent at the same price and is offered through Yvonne Farcic at Hindmarsh &amp; Walsh Property.
It is set in 2325sq m of established gardens and mature trees. The 1930s residence comes with original features such as 10ft ceilings and timber floors.
Cummins has been in Clovelly since paying $1,362,500 for a three-bedroom unit just off the high street.
Moss Vale is not quite a complete exit from the rat race — a la Tom and Barbara Good in the 1970s BBC television series The Good Life — but the desire to become more self-sufficient has soared in recent weeks.
The City Chicks business in Sydney is regularly sold out of all its available hybrid chooks, bound for the backyards of families who want “eggs on legs”.
This article was first published in the Sunday Telegraph.  
</div>
 
<a href="https://www.realestate.com.au/property-house-nsw-moss+vale-428629302"> </a>
 
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Cricketer Pat Cummins seeks Southern Highlands tenants

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Wetheral, the 1930s Moss Vale home constructed by the renowned builders Alf Stephens &amp; Sons, has been listed for sale.
The five bedroom home was built of full brick and tile on its 3,350 square metres of established gardens and lawns.
<img src="https://www.urban.com.au/images/2019/3/8/image17.png" alt="">
It also has four bathrooms, grand formal rooms with an open fireplace, and a study.
There's an attached self-contained B&amp;B studio.
<img src="https://www.urban.com.au/images/2019/3/8/main%2013%201.png" alt="">
The surrounding gardens features a chook pen, veggie garden and orchard.
Raine &amp; Horne Southern Highlands agents John Kidd and Lynette Anstee are marketing the home.
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jonathanchancellor-7SQnKwU6yx

1930s Moss Vale trophy home Wetheral listed

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One of Australia's wealthiest fund managers, the Magellan boss Hamish Douglass seems to think NSW rural property is a sound investment.
He has just spent $1,925,000 on a 40 hectare holding at Moss Vale. Its coincidently called Majellan Park.
It was listed through Hindmarsh + Walsh.
His initial 40 hectare Highlands cattle farm purchase is on the other side of Yarrawa Road, which cost $1.7 million two years ago.
His funds have increased their cash weighting over recent times as he maintains only conservative investors sleep well.
The Neutral Bay based funds manager, who turned 50 last month, is unusually cautious about the global market outlook.
This article was first published in the Saturday Daily Telegraph.
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j.ballantyne1990-6AQqhLzZaK

Magellan boss Hamish Douglass buys NSW Southern Highlands rural property

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Aoyuan International has made its first land deal for the year, securing two adjoining lots totalling 123 hectares in Moss Vale on the Southern Highlands.
It paid close to $100 million.
The group, which has active development sites across Australia, Canada and Hong Kong, has earmarked the site to be the ‘flagship’ of their Australian house and land subdivision portfolio.
Plans are already forming to create a ‘landscape-led’ masterplanned, integrated residential community with more than 20 per cent of the site put to green open spaces and recreational facilities.
The deal brings the group’s Sydney development pipeline to over $2 billion, across apartments and land, including Coomeroo Estate at Bargo, comprised of 167 residential blocks ranging in size from 700sqm to 5000sqm.
Curving around the Moss Vale Golf Course and bound by Yarrawa Road and Lovelle Street, the site been rezoned for residential lot subdivision by Wingecarribee Shire Council.
Land lots are expected to range in size from 400 sqm through to 2,000 sqm.
The acquisition is only the latest development for Aoyuan Intl as apartment projects including Maison 188 Maroubra and Mirabell in Turramurra are due to welcome residents this year, while Altessa at Gordon is now under construction.
Aoyuan International’s parent company is China Aoyuan Property Group whom currently hold a land bank of over 25 million sqm across China, Macau, Australia and Canada.
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