Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

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The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

New Developments

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Iconic billionaire property developer Harry Triguboff has said that apartment prices will tumble and rentals will rise if demand from Chinese developers drops off.
The man known by some as High Rise Harry told The Australian that he anticipates a 10-15% price drop in some areas if Chinese buyers were to stop purchasing Australian properties. He also said that the subsequent halt in new developments would also cause rental rates to rise.
"If production (of units) dropped, the impact would be a huge rise in rents," he told The Australian. Triguboff attributed residential prices to poor national planning systems.
According to the publication, about 70% of Triguboff’s apartments are sold to offshore buyers and Australians of Asian descent. However, Triguboff told Bloomberg earlier this year that his company does not market properties to mainland China and has no intentions to begin doing so. 
"They come to me," Triguboff told Bloomberg in February. "Today, we’re part of the Chinese market, more than 10,000 apartments is nothing," he said, referring to Meriton's construction capacity.
Triguboff established the Meriton Group in 1963 at just 30 years old. According to Triguboff, the business is now worth $6.1 billion. The apartment developer is mostly active in Sydney and South East Queensland, and also owns or manages about 3,000 apartments in addition to its construction and development activities.
According to BRW's 2013 Rich 200 list, he is Australia's eighth richest person, with a net wealth of $5.5 billion. Triguboff was born in China and moved to Australia in 1948. 
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Prices will fall if Chinese buyers withdraw, warns Harry Triguboff

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On land owned by the Cronulla Sutherland Leagues Club, Bluestone is developing Woolooware Bay, their first foray into waterfront apartments.
The past Saturday, they launched the apartments to the public and sold $80 million worth of property, pushing them 12 months ahead of what they had stated to be their original sales program.
More than 100 apartments in <a href="https://wooloowarebay.com.au/" target="_blank">Woolooware Bay</a> development's buildings ‘Landings’ and ‘Cove’ sold, to home buyers, downsizers and investors. However, it left some one, two and three bedroom apartments available.
Buyers in the development included former rugby league footballer, Darryl Brohman, who bought a two-bedroom apartment, and Sharks players, including newly recruited Blake Ayshford.
They noted that they believed in supporting the Sharks and the Shire by purchasing into the developments that are well planned and close to the beach.
Architects Turner have optimised the sun exposure, ventilation and views of the residences.
The properties are priced from $485,000 for a one-bedroom apartment, from $700,000 for a two bedroom and from $1.01 million for a three bedroom.
Prior to this, $100 million of property sold at the VIP launch of 226 apartments in the Esplanade, Pavilion and Sea buildings that Property Observer covered in February.
The Landings building is on eight levels and includes 12 one bedroom apartments at 57 square metres plus, 45 two bedroom apartments from 79 square metres and 12 three-bedroom apartments from 114 square metres.
Meanwhile, Cove, on eight levels, includes 40 one bedroom apartments from 59 square metres, 60 two bedroom apartments from 77 square metres and nine three bedroom properties from 108 square metres. This building is slightly more expensive, seeing prices range from $500,000 for a one bedroom, $705,000 for a two bedroom and $1.41 million for a three bedroom.
The entire foreshore is also set to be rejuvenated as a result, with a residential community of a total 600 apartments, the Remondis Stadium and a revitalised Sharks Club. It will also include Bay Central, a retail precinct with a supermarket, restaurants, cafes, health, medical and other facilities.
Locals are a higher percentage of those buying into the development, noted Colliers International residential managing director Peter Chittenden. However, he said that a broader Sydney has been expressing interest.
“Cronulla is the last of the Sydney beaches that in many ways is yet to be discovered,” said Chittenden.
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One Saturday in Sydney’s south, one development, $80 million of sales

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New development Vivre, a one- and two bedroom apartment complex in Essendon, has seen significant investor attention and expects owner occupiers to follow suit.
<a href="https://www.vivreessendon.com/" target="_blank">Essendon’s Vivre</a>, at 64-66 Keilor Road, from Monson Property Group, has the unusual twist of seeing 90% of the 67 apartments with something called ‘flexible’ floor plans.
Essentially, this means that buyers can re-position a moveable wall to change the size or shape of their living areas – to make a second bedroom, a study or a larger living area, for example.
Architect ClarkeHopkinsClarke has become the mastermind by the flexi-apartment concept that has seen 40% of apartments securing registrations of interest, with 25 apartments reserved, after an expressions of interest campaign was launched on Thursday.
One-bedroom properties range from $375,000 upwards, for 50 square metres. Flexi-one bedroom apartments from 50 to 55 square metres command prices from $399,000 upwards. Meanwhile, two-bedroom apartments from 57 to 72 square metres start from $480,000. Two-bedroom apartments with a study are sized from 74 square metres, at $550,000 plus. The most expensive apartment is a two-bedroom apartment with a study for $575,000.
Each includes access to a lift, and a basement car park.
Currently, <a href="/news">Essendon</a> is commanding a median unit price of $435,000, with median weekly advertised rent at $310 per week, according to RP Data.
Riveren’s Sophon En, the marketing agent for the development, said that this is a leg-up for first home buyers as the flexible floorplans allow investors to buy a one-bedroom and turn it into a two-bedroom for a greater return.
“Essendon as a suburb has strong growth potential, with recent figures showing an average median price growth of 24% for houses and apartments over the last five years.  It is a desirable place to live and ticks the boxes for infrastructure and great access to local facilities, restaurants and other amenities,” said En.
En expects that Essendon will take off with the government’s focus on the area as a growth zone.
Meanwhile, Monson Property Group’s director, Simon Mehegan, said that the name Vivre, French for ‘live’, was in reference to the flexible floor plan concept of the apartments; being somewhere to live, have living space and the capability of adapting the property to suit your lifestyle.
“It’s become common for people to buy two apartments and merge them into one for more space but this is expensive. We’re turning this concept on its head and making added space affordable,” he said.
Apartments include stone bench tops, chrome fittings, timber floorboards, stainless steel appliances and mirrored splashbacks, with similar chrome features in the tiled bathrooms.
The display suite is set to open in early May 2014, with construction to start in September 2014. March 2016 is the current date set for completion.
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Investor interest surges for new Essendon apartment development, Vivre

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A development site opposite Fremantle Port has sold for $2.1 million to the St Patrick's Community Support Centre. 
The 938 square metre site, at 3 Beach Street, is currently occupied by a warehouse and two retail shops, but it has the potential to be developed into a six-level building.
The purchaser - which fended off rival bids from owner occupiers, developers and private investors - plans to occupy the existing building and provide additional affordable housing for the disadvantaged within the community.
Knight Frank associate director Todd Schaffer was the selling agent. 
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Fremantle development site fetches $2.1 million

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Urban development policies do not reflect the needs of Australia’s wealthiest group of property buyers leading to a mismatch between the housing stock available and what is in demand, according to architecture and design firm Hames Sharley’s associate director Arun Broadhurst.
Speaking at the Urban Development Institute of Australia’s national congress in Brisbane last week, Broadhurst said public policy around the country was designed with an overwhelming desire to increase the density of capital cities. As part of that, developers were encouraged to build smaller types of housing with one to two bedrooms.
“The problem is that Generation X, which is our most wealthy generation, is of child bearing age and the policies don’t necessarily reflect what they need. They’re still going to need three, four or five bedroom houses,” Broadhurst said.
Most of the members of UDIA are large land developers that focus on green field sites on the city fringes. First home buyers form their main target markets.
Broadhurst told conference delegates that while some first time buyers were interested in one to two bedroom homes, many were still looking for three to five bedroom homes because they were planning to have children in future.
Broadhurst’s comments were based on the findings of The Housing We’d Choose: a study for Perth and Peel report, which was released last year. The research was conducted by Curtin Business School with Hames Sharley managing the project. The report analysed the compromises people in Perth were prepared to make when they bought a home.
The Grattan Institute had put together similar research in 2011 based on the Sydney and Melbourne markets.
The studies constrained people’s decision making by forcing them to make realistic assessments based on their own financial situations.
“If you asked people ‘What do you want to buy?’ people would say a five bedroom house in Kirribilli but we know this is unattainable for most people. [The research] constrains people’s choices by income and available stock to get a better feeling of how the real housing market works ,” Broadhurst said.
The Perth and Peel study found Perth was well catered for in three to five bedroom houses but had a large undersupply of one to two bedroom homes that suited people looking for smaller, more affordable homes. “It’s probably similar in Brisbane,” Broadhurst said. 
“In Melbourne and Sydney there’s a greater amount of housing diversity,” he said.
However, there were opportunities for developers to attract a greater variety of people to live out on the city fringes if they built homes that better suited wealthier growing families.
“Generation X tends to be affluent enough to live in the suburbs of their choosing,” Broadhurst said.
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Urban development policies leading to a mismatch between demand and supply

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The Sydney based property developer Crown Group received the Urban Development Institute of Australia's (UDIA) Best High Density Residential Development award for the Top Ryde City Living development last week.
The $500 million development atop Sydney’s Top Ryde City shopping centre was one of nine winners to receive awards at the UDIA’s 2014 National Awards for Excellence Gala Dinner held at the Brisbane Convention and Exhibition Centre on Friday.
Prior to last week’s win, the development took home the 2013 state award for Best High Density Development. That year, Crown Group also received the Best Concept Design award for Eastlakes Town Centre, a joint venture with Prosha Pty Ltd.
Crown Group’s chief executive Iwan Sunito was delighted to receive the national award.
“It’s an honour to be recognised by such a prestigious award in what is a very competitive market,” he said.
“Over the past eighteen years Crown Group has successfully carved itself an undisputed place in the Australian property market and buyers have embraced our developments,” he said.
“This award is a testament to the five-star, resort style living Crown Group has become renowned for.
“These awards are proof corporate growth, quality and design excellence do not have to compete with one another, they can exist together,” said Sunito.
Development director Tim Campbell said the award recognised the development’s high quality of design.
 “Top Ryde City Living exemplifies Crown Group’s drive to contribute the highest calibre of design and development required to create sustainable urban cities for the future,” he said. 
 “Many people have been involved in delivering the vision for Top Ryde City Living and it has been a collaborative journey.”
The development will house 653 apartments, including studios and penthouses, across seven buildings. Common areas will include a music room, library, media theatre and outdoor areas with a children’s playground and pool. Construction began in 2011 and about 500 residents have moved in to the complex.
The development’s final stage, Viva by Crown, is due for completion in mid-2014, with a selection of one and two bedroom apartments remaining. Prices start from $613,000.
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Crown Group's Top Ryde takes out the UDIA's Best High Density Residential Development award

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Buying a new apartment off the plan is increasingly popular, but there can be pitfalls if individuals fail to do the necessary research on the property developer.
Background checking a developer doesn’t mean becoming Sherlock Holmes and sleuthing around, but it does require a potential purchaser to ask questions and take an interest in a developer’s history.
The best place to start is online by looking at property blogs and newspaper articles. A quick search of the developer’s name should yield results. Are there any court actions against a developer? Bad feedback on forums should ring alarm bells.
CBRE director of residential development Matthew Ramsay says the other key step is to research a developer on their website and see what other projects the company has developed.
“You can go out and see the display suite and see the quality of the actual project, or even older things they’ve built, to see the quality of the finishes,” says Ramsay.
Ramsay says there are two types of developers, tier one and tier two.
“There’s the developer who will employ a third party builder and it’s important to know who that third party builder is. It needs to be someone who has a signification in the market and someone who has done residential construction before,” says Ramsay.
“If a builder is known as a tier one or a tier two builder, then they’re known as a good quality builder in the market place.”
If an individual is going through a buyer’s agent, the agency will generally obtain information through their agent contacts in the market and will know the quality of the product the developer provides through past experience.
Property Searchers managing partner Scott McGeever says it is important to look at the facilities offered in the complex, as they can be big-ticket costs down the track and significantly add to strata expenses.
McGeever says to look at the type and quality of the construction and the level of fittings and fixtures that are used in the complex and well as the interior of the property itself.
“If they are cheap and nasty, they tend not to age well and look tatty after a short period and that will effect re-sale,” says McGeever.
Most new development projects have a mandatory seven-year structural warranty with an insurer and Ramsay says buyers do have rights in their contract of sale if things were to go askew.
“In most, if not all contracts of sale, there is a deadline date in which the developer must have the apartment completed and hand it over to the buyer,” says Ramsay.
“If the developer misses that deadline date, the buyer then has the right to refuse the contract and the deposit is returned.
“If the apartment layout changes or there’s significant changes to the apartment, the buyer also has the right to refuse the contract.”
It’s also important to have the contract of sale read by a solicitor.
With the right research done into the developer, the architect and the contract details, buying off the plan does not need to be a risky property investment.
 
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