There’s nothing quite like looking down from the top floors of a building to the surrounding vistas.

Despite a slowing market, it’s still been a landmark year for Sydney penthouse sales.&nbsp;

A collection of penthouses has recently been released in AURA by Aqualand, with four sub-penthouses already sold.&nbsp;

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The most recent was purchased by a downsizer from Northbridge, who snapped up the four-bedroom residence for $7.25 million.&nbsp;

The owner plans to downsize from a larger family home and was attracted to the convenience and amenity of North Sydney, along with the area’s unique new CBD masterplan, along with some key trends which universally appeal to penthouse purchasers.

The interiors at Aura have been designed by Kirsten Stanisich of Richards Stansich, with the designer highlighting the top six penthouse features and trends that continue to tick the box for capital growth prospects.&nbsp;

“Glorious views are first on the list. In Sydney, that means harbour, bridge, or Opera House views and choosing a penthouse with any of these is paramount to maintain value over time,” Stanisich said.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=202994]&nbsp;

Location is always vital, says CBRE’s Ben Stewart.

“Penthouses close to the CBD and within walking distance to lifestyle amenities like great cafés, bars, fine dining, and parks are high on the list for penthouse buyers right now,” he said.

While a property’s location is vital for retaining value for any purchase, buying a penthouse is as much about prestige.&nbsp;

Iconic architecture that stands out against the city skyline combined with timeless interiors created by sought-after architects and designers will win out over less salubrious developments when it comes to steady capital growth prospects.&nbsp;

“Overall, our clients are looking for beautiful high-quality interiors, an elegant materials palette and a sense of permanence,” explained Stanisich.&nbsp;

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The layout and planning of penthouse spaces are also essential, says Stanisich.&nbsp;

“Living and sleeping areas should be separately zoned, and there should always be a sense of arrival at the entry as a transition from the building’s common areas to the privacy and intimacy of the penthouse.”

“We carefully consider connections between living, dining and kitchen areas and include amenities like a back kitchen or scullery to minimise cooking smells and visual sight lines of daily clutter,” she said.&nbsp;

Generous shower sizes, huge guest powder rooms, high-quality appliances using the latest technologies, with steam ovens and warming drawers, generous pantries and a separate bar or wine cellar with temperature-controlled wine storage are high on Stanisich’s design list.

“Penthouses with private pools are right on trend at the moment also. High-net-worth buyers want expansive spaces to entertain outdoors, so large, luxuriously appointed terraces and private rooftop gardens will appeal in any market,” she said.&nbsp;

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Many architects specify penthouse finishes one would typically find in a stand-alone family home, like statement fireplaces and sculptural island benches.&nbsp;

These add to the sense you’ve arrived somewhere truly extraordinary, says Stanisich.

“Often downsizers moving from larger homes are looking for the ease of apartment living without compromising on size,” she said.&nbsp;

Bedrooms and bathrooms should create a feeling of welcome retreat from the work-a-day world outside.&nbsp;

“Main bedrooms should be generous and open to views and abundant natural light. Robes and ensuites should feel spacious and well connected, while each bathroom feature should create individual moments for restfulness, thought or relaxation. I think using natural materials is also important for their beauty and ultimate longevity.”

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Ample parking is another must, says Stanisich.&nbsp;

“It may sound pedestrian, but a great lifestyle location often means parking is at a premium.”

"A penthouse must have multiple, spacious, secure and convenient parking for multiple cars, and if it includes a private lift from the carpark to the penthouse, all the better.”

There’s no denying that penthouse apartments are a different kind of real estate. And those lucky to have the resources to buy penthouses have a very different mindset from other property buyers.&nbsp;

At the lofty end of the market, buyers seek the ultimate expression of lifestyle, luxury and prestige rather than simply a place to live or purely a return on investment.

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A collection of penthouses has recently been released in AURA by Aqualand, with four sub-penthouses already sold. 

alisonwarters@gmail.com

What penthouse buyers are looking for in today’s market; a look into AURA by Aqualand’s penthouse collection 

Low-rise apartments continue their descent on the popular Albatross Avenue, with Mermaid Beach maintaining its place as a hotspot for developers.&nbsp;

The new plans come from Burleigh Heads-based developers, Highlife Homes, headed by James George, who founded the company, steadily progressing from renovating new homes, to luxury homes and duplexes and then to townhouse developments.

<img alt="Render of the 68 Albatross Ave project" data-entity-type="file" data-entity-uuid="fa345470-e8bb-4b85-a7ba-ee23682e345d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-14%20at%209.25.06%20pm.png?VersionId=oiL3TWHnwrymSm_SmXmjC1Qvb7PLuwsU" />Render of the proposed Albatross Avenue development. Credit:&nbsp;Raunik

The group has lodged plans for an 809 sqm site at 68 Albatross Ave, with plans for a four-storey, eight-apartment project, offering a mix of three-bedroom residences, designed by architects, Raunik Design Group.

Taking inspiration from its coastal location, the building incorporates materials, colours and textures prevalent to the beachside locality, including light-toned timber look features, timber soffits, feature stone cladding, glazed balustrades and landscaped planters which soften and juxtapose the concrete render.&nbsp;

The development also seeks to provide a higher-end product, in a bid to allow local residents to “age in place” within the local community as they downsize from traditionally larger family homes to a more compact, lower-maintenance dwelling typology, without necessitating moving out of the Mermaid Beach locale.&nbsp;

<img alt="Render of the proposed Albatross Avenue development. Credit: Raunik" data-entity-type="file" data-entity-uuid="6919ffd3-9811-45d9-8a7a-ad76203ac2c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-14%20at%209.25.20%20pm.png?VersionId=2vjPWdGOioIq7tCDZrELB0ci4I.1aZ4V" />Render of the proposed Albatross Avenue development. Credit:&nbsp;Raunik

Each floor will house two apartments, with the homes adopting an open plan layout, with the living, dining and kitchen adjoining to generously-sized terraces and balconies, oriented toward the east.&nbsp;

Crowning the building will be a rooftop terrace, for the use of the penthouse residents.

Designed for outdoor entertaining, the space is equipped with a barbecue area, as well as a dining space with a lightweight pergola, outdoor seating, a spa and a plunge pool.&nbsp;

Highlife’s project will join a string of projects taking up a spot in the coveted Gold Coast pocket.&nbsp;

[smartcode_project:default project_id=108737 project_image_fid=199485]

Just down the road, Hutchinson Builders recently started work on the Niecon project, Ventura Residences, which will deliver 45 apartments come mid-2023.&nbsp;

The Ventura Road development, just 250 metres from the Mermaid Beach sand, has been a hit with owner-occupiers, who have snapped up all of the two-bedroom apartments on offer, with a handful of three and four-bedroom north-facing apartments, which feature city skyline and ocean views, as well as two exclusive villas still remaining.&nbsp;

Hutchies are also behind the $200 million Hirsch &amp; Faigen project, Yves, with the development a rare high-rise offering in the area.&nbsp;

[smartcode_project:default project_id=102451 project_image_fid=186077]

The three-tower development at 7-9 Mermaid Avenue has been designed by the renowned architecture firm Rothelowman, delivering 145 luxury residences, with a mix of one, two and three-bedroom apartments, in addition to the premium offerings of two four-bedroom, half-floor sub-penthouses and a single full-floor penthouse.

More than half of the apartments in Yves were snapped up in the first two months of marketing, unsurprisingly with locals dominating the purchasing, with select two, three and four-bedroom apartments remaining.&nbsp;

The group has lodged plans for an 809 sqm site at 68 Albatross Ave, with plans for a four-storey, eight-apartment project, offering a mix of three-bedroom residences, designed by Raunik Design Group Architects.



The Mermaid Beach apartment wave continues, with new development plans lodged for Albatross Avenue

A major landholding within the master-planned Queen Street Village precinct at Southport has been placed on the market, presenting one of the biggest development opportunities in the Gold Coast’s central CBD in a number of years.

The landholding, comprising three adjoining sites totalling 5401 sqm, is being presented collectively to the market by Colliers through an expressions of interest campaign under the instructions of the mortgage exercising power of sale.

Colliers has called for expressions of interest in lots seven, eight and nine, which are located at the corner of Nerang Street and Queen Street, and already have preliminary planning approvals in place.

<img alt="Birdseye cityscape" data-entity-type="file" data-entity-uuid="26e4f82a-3f89-44e1-ad2f-b78cda4176fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/City%20Scape%20Hero.JPG?VersionId=psDCyCKBBeqg87mCpMAeErBPCgi9._Ch" />

The sites, located just one-kilometre from the Southport Broadwater and the Broadwater Parklands, are within the Southport Priority Development Area which allows for multiple uses without height restrictions.&nbsp;

Lot seven spans 1,787 sqm, with preliminary approval for a 12-storey apartment building comprising 52 units, along with a string of residential amenities, such as a rooftop terrace.&nbsp;

Lot eight, with a land area of 2,414 sqm, holds preliminary approval for a student accommodation facility comprising 480 beds, while lot nine comes with a land area of 1,200 sqm, located along Nerang St, with approval for a 14-storey hotel building, providing 160 suites and a rooftop terrace.&nbsp;

The sale is being jointly co-ordinated by a trio of Collier’s senior Gold Coast team, with Steven King, the Gold Coast Director in Charge at Colliers and Colliers Directors, Development Sites, Troy Linnane and Brendan Hogan, taking the reins.&nbsp;

Steven King spoke to the emerging suburb, pinning it as one of the Gold Coast’s most active development zones, with the site presenting a significant opportunity in the heart of the city’s designated CBD.&nbsp;

“It’s one of the largest sites to come on the Gold Coast market in many years and offers development interests the option of moving quickly and bringing to market the existing development proposals or to create a new landmark legacy within the Queen Street Village master plan,” King said.&nbsp;

“We anticipate the scale of the site and the advanced stage of approvals currently in place will garner considerable national interest at a time of severe undersupply in the Gold Coast residential market.”

The Queen Street Village holding is strategically located adjacent to the Nerang Street Light Rail Station, providing direct access to the Gold Coast’s key employment nodes such as the Gold Coast University Hospital and the Griffith University to the north.&nbsp;

It also provides access to the tourism and lifestyle hubs of Surfers Paradise and Broadbeach, including The Star Casino and Pacific Fair Shopping Centre, which are to the south.

“The corner location offers a high level of exposure to both Nerang and Queen Streets for any proposed development,” said Linnane.

“The three lots also benefit from multimillion-dollar expenditure in development works that have already been completed to date for the Queens Street Village development, and they also carry applicable infrastructure credits.”

<img alt="Birdseye cityscape " data-entity-type="file" data-entity-uuid="78d137dd-fc55-4212-97aa-a9653b07c091" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Birds%20Eye%20Hero.JPG?VersionId=r2XahbQH.RVNGTJOBuLGIwMS3GpLGnjf" />

Hogan said the Southport holding presents a prime ‘shovel ready’ opportunity to capitalise on robust market conditions in the Gold Coast residential and tourism market.

“Record low residential vacancy rates, together with strong population growth, major investment in infrastructure and a rebounding tourism sector have put the Gold Coast on a strong trajectory to continue its post-pandemic boom well into the coming decade,” said Mr Hogan.

“A potential buyer could conceivably move into development of this site quite quickly, but because of its location within the Southport Priority Development Area Precinct 1, it presents an opportunity to explore multiple alternate uses.”

Precinct One defines the central Southport area as one of regionally significant commerce that will deliver a hub of innovative business, economic activity, entertainment, and leisure, with high levels of public transport connectivity to the rest of the city.&nbsp;

This zoning allows development of a diverse mix of residential and non-residential CBD uses such as offices, showrooms and health care services.&nbsp;

Colliers will provide qualified parties access to further information, including current approvals, upon request.

The expressions of interest campaign will close on Thursday 27 th October 2022 at 4pm.

The site is also positioned within the emerging Queen Street Village development, with the first stage recently opened, delivering a Supa IGA supermarket, Dendy Cinemas and a range of specialty retail tenancies.&nbsp;

Further developments proposed as part of the Queen Street Village master plan include two residential apartment towers that will deliver a total of 216 units and a vertical retirement village.

The landholding, comprising three adjoining sites totalling 5401 sqm, is being presented collectively to the market by Colliers through an expressions of interest campaign under the instructions of the mortgage exercising power of sale.



Colliers launch expressions of interest campaign for ‘shovel ready’ development in the Southport CBD

Inspired by its coastal topography and local maritime history, AVJennings has developed the Merchant Apartments as the final and grandest apartment release in the Waterline Place masterplan.

Situated in the heart of the precinct, Merchant has been created with the community in mind, delivering a collection of one, two and three-bedroom apartments, along with an exclusive Sky Home collection, which are housed on the upper floors of the building.

[smartcode_project:default project_id=112774 project_image_fid=197059]

Complete with a vibrant ground floor retail offering and a uniquely designed communal rooftop space, with sweeping views to the city and Hobsons Bay, Merchant has been designed by internationally acclaimed architects, Elenberg Fraser.

The façade of the building has been inspired by the surrounding views and the coastal environment that envelopes it, complemented with a variety of Indigenous and exotic vegetation that can coexist and survive in the climate.

Elenberg Fraser Interior Designer, Kate Shaw said, Merchant’s fluid undulant-shaped façade reflects light in a way that is reminiscent of the reflection of the sun off rippling water.

“Textural concrete walls intentionally bound the building to the east and west, angled to direct view lines towards the horizon,” she added.

[smartcode_project:default project_id=112774 project_image_fid=197060]

From its boutique lobby filled with local artwork and banquette seating, through to the finest of details, all aspects of Merchant’s interiors have been inspired by its tranquil locale.

“The lobby is a space that transitions from the external landscaped zones into a lush foliage-filled entry experience, appointed with gallery spaces featuring local landscape photographers and organic textural finishes that emulate a calming welcome,” said Shaw.

The interiors are bright and welcoming, designed to let in abundant natural light and draw in cool coastal air.

Two colour schemes are on offer within the Merchant Apartments, with Shore and Surf, further adding to the coastal vision.

[smartcode_project:default project_id=112774 project_image_fid=199315]

Merchant also offers five curated upgrade packages, allowing for even further customisation, with inclusions including Miele appliances, natural stone finishes, keyless entry, dimmable light switches, and more.

Floor to ceiling glazing maximises outlooks, bringing the outdoors in, while each adjoining balcony has been designed as an extension of the home, providing an addition living space in each apartment.

“Each apartment has been shaped by key aspect points, ensuring both private and shared spaces enjoy uninterrupted panoramas through the floor to ceiling glazing.”

“Premium positioned corner and dual aspect apartments take in sweeping bayside views, while affording occupants the flexibility to adapt room arrangements.”

[smartcode_project:default project_id=112774 project_image_fid=199291]

The crowning glory of Merchant is its rooftop terrace.

With its panoramic views of Melbourne and surrounds, the space is also home to built-in barbecues, multiple seating zones, as well as a communal garden.

One, two and three-bedroom apartments can still be snapped up in the project, with floorplans spanning from 55 sqm to 155 sqm.&nbsp;

Prospective buyers can experience their own 'first look' into the apartments with the group having recently opened a newly refurbished display suite, complete with full scale kitchen and bathroom examples.&nbsp;

<img alt="Merchant Apartment display suite" data-entity-type="file" data-entity-uuid="943c6598-ee73-4e03-9f5e-cd13ea6ecf3f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/IP037-20220707._E1A8452.jpg?VersionId=l4wNP3dFTFzAyE4k9rmQnBiuYwZY5xhn" />Inside the Merchant Apartment newly refurbished display suite.&nbsp;

[smartcode_project_cta:default project_id=112774]

Complete with a vibrant ground floor retail offering and a uniquely designed communal rooftop space, with sweeping views to the city and Hobsons Bay, Merchant has been designed by internationally acclaimed architects, Elenberg Fraser.

A look inside the Merchant Apartments; the final apartment building in Waterline Place

A new boutique apartment development has been approved for Fitzroy.&nbsp;

Melbourne developers Urban, headed by directors Bart Callaghan and Tony Suttle, submitted the plans for the 23 apartment project at 25 Smith Street, which has been designed by Clare Cousins Architects.&nbsp;

<a data-entity-type="file" data-entity-uuid="d1b2e71f-4084-4e6e-945b-45aa0e605daa" href="/new-apartments/25-smith-street-fitzroy-25-smith-street-fitzroy"><img alt="Render of the Smiths Street development." data-entity-type="file" data-entity-uuid="d1b2e71f-4084-4e6e-945b-45aa0e605daa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-09-06%20at%2011.45.11%20am.png?VersionId=kd5lbogwSMGJ1h.tyfUH9b.K0LTXWI.T" /></a>Render of the planned Smith Street development.&nbsp;Clare Cousins Architects

Clare Cousins Architects was recently awarded 'The Premier Award for Interior Design' by the Australian Interior Design Awards (AIDA) and has previously designed retail stores for Aesop around the globe. The 25 Smith Street site was actually previously the Aesop headquarters, which Cousins designed some 18 years ago.

18 of the apartments will be taken to market, with the generous-sized residences a unique offering due to the designers working collaboratively alongside purchasers, from inception to completion, to ensure the homes are purpose built.&nbsp;

Five two-bedroom apartments will be delivered across the project, along with 13 three-bedroom apartments, including one penthouse and two full-floor apartments.&nbsp;

There is also further opportunity for buyers to combine apartments, creating two more full-floor apartments.&nbsp;

The $44 million project’s prices begin from $890,000 through to $6,000,000, spanning from 91 sqm to 390 sqm.&nbsp;

The group is targeting the local down-sizer and owner-occupier market, having recently completed the nearby Collingwood project, C&amp;L, which was welcomed by a similar demographic.

<a data-entity-type="file" data-entity-uuid="58bbcfaa-f567-45c7-97aa-790b1e95eaa5" href="/new-apartments/25-smith-street-fitzroy-25-smith-street-fitzroy"><img alt="Render of the Smiths Street development." data-entity-type="file" data-entity-uuid="58bbcfaa-f567-45c7-97aa-790b1e95eaa5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-15%20at%202.39.24%20pm.png?VersionId=FiFt_W.JQP.MTXcndxNlniyVzRu08oH0" /></a>Render of the planned Smith Street development. Credit&nbsp;Clare Cousins Architects

The building features a sculptural precast concrete exposed aggregate form, with each residence focusing on providing ample natural light and cross ventilation, while solar panels have been added to the rooftop to further reduce the energy requirements of the property.&nbsp;

The eight-storey building also offers views that cannot be built out, to the Dandenong Ranges in the east as well as the Melbourne city skyline to the west.

Situated on Little Victoria Street’s northwest corner, the development enjoys an enviable position that also fronts Little Smith Street, with residents enjoying the amenities of Smith Street, along with the parks and green spaces of East Melbourne.&nbsp;

The Fitzroy area is also abundant with boutique galleries and health studios, with Gertrude Street boasting some of the city's finest dining options, with Marion Wine Bar, Cutler &amp; Co, and Tamura Sake Bar, all within 800 metres of the CBD.

Urban plans to begin the first stages of construction on the project by the end of the year.&nbsp;

The group began as a collaboration between the Directors, evolving to include a hand-picked specialist team of property-focused staff in Melbourne.

Since its inception in 2009, the team has successfully developed and delivered more than $2 billion worth of residential, commercial, retail, industrial and master-planned projects.

<a data-entity-type="file" data-entity-uuid="363564ff-b257-4541-8e4b-6596cb07df85" href="/new-apartments/25-smith-street-fitzroy-25-smith-street-fitzroy"><img alt="Render of the Smiths Street development." data-entity-type="file" data-entity-uuid="363564ff-b257-4541-8e4b-6596cb07df85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-09-06%20at%2011.47.08%20am.png?VersionId=FzQ3wNRrCgQD9l71VBNRpHJ3WSzOvBzX" /></a>

[smartcode_project_cta:default project_id=110364]

Five two-bedroom apartments will be delivered across the project, along with 13 three-bedroom apartments, including one penthouse and two full-floor apartments. 

Apartments approved for Fitzroy's 25 Smith Street

Sydney’s popular eastern suburbs beachside spot Maroubra is set to welcome a rare new apartment development on its beachfront strip.&nbsp; 
&nbsp;

Leading personal injury lawyer Gerard Malouf and his wife Dana has lodged plans for a boutique development at 116-118 Marine Parade.

MHNDU has designed the four-level building which will home just 10 apartments.

The residences will sit atop a stone clad basement level, which has been designed to appear as a landscaped podium.&nbsp;

The project will deliver a mix of apartment types; two one-bedroom, two two-bedroom, and six three-bedroom apartments, with three apartments to be dedicated to affordable housing.&nbsp;

The site is located in an area that is currently underdeveloped, but is zoned for higher density residential buildings in the future, with the desired future character of Marine Parade evident in the more recently constructed buildings further to the south of the site.&nbsp;

The combination of contemporary materials, colour palette and landscaping will provide a well-designed and high quality finish to the public domain and surrounding development, setting a precedent for contemporary development in the area.

The ground floor level will comprise two three-bedroom residences, each containing an open plan living, dining and kitchen area, a powder room, a laundry, three ensuites, a walk-in-robe and outdoor private open space wrapping around the apartment.

The first floor will include two one-bedroom units, again with an open-plan design, a bathroom, a laundry and private open space. The floor also has two two-bedroom apartments, each with a bathroom, a laundry, an ensuite and a walk-in-robe.

On the second floor, two three-bedroom ensuited apartments will be included, each with a powder room, a laundry and a walk-in-robe, with the third floor set to home the additional two three-bedroom apartments, each with ensuites, powder room, a laundry and a walk-in-robe.&nbsp;

All of the apartments will adjoin to private open spaces, in the form of balconies or courtyards, and while no communal open space has been proposed, the site benefits from its location near to Maroubra Beach, and a reserve directly across the road, which provides additional public recreation space.&nbsp;

The development will also include a total of 483 sqm of landscaped greenery at the front, rear and sides of the site, with the designs handled by Wyer &amp; Co. Landscape Design.&nbsp;

Maroubra set for rare new luxury apartment development

A new breed of purchasers are taking luxury living to the next level, refusing to compromise on space by joining off-the-plan apartments together to create their “lock and leave” dream homes.

Apartment amalgamation is becoming an increasing trend among buyers, with house size apartments with unobstructed city views on their wish lists.

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End-to-end developers, Hyecorp, have become somewhat specialists in the amalgamation scene, having delivered a number of combined apartments over their time, with the group handling the architecture, construction and design of each of their projects.&nbsp;

“This holistic approach gives us visibility of the entire process and accountability for the high standard of quality we expect of ourselves and our collaborators. The result is one of excellence ensuring a building perfectly suited to the postcode it calls home,” Hyecorp say.&nbsp;

Most recently, the group smashed out the St Leonards apartment price median, with Head of Sales, George Benlian handling the transaction of an amalgamated apartment for $5.05 million.&nbsp;

The combined apartment now encompasses 192 sqm, complete with three-bedrooms, two living rooms, a study, two and half-bathrooms and three balconies.

<img alt="Audrey floorplan" data-entity-type="file" data-entity-uuid="8b5adc37-4040-4810-9a9c-af0f252b6f40" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Hyecorp_Audrey_AmalgamationofApartments_Before%26After1_Screenshot.JPG?VersionId=0H2c3ShXXA74tVw9J.poWq102GONUniC" /> 
Image: Floorplan before vs. after the amalgamation. Credit: Hyecorp

The buyers are local to the area, with their family having already bought in Audrey in June.&nbsp;

“The idea came from the buyers looking for an additional residence, needing around 200 sqm of space, and finding an apartment with a floorplan to suit their need is something nearly impossible to find,” Benlian said.&nbsp;

Hyecorp ​​attributes the record outcome to a growing sector of discerning buyers seeking space and quality.

The group has made a habit of working with clients to design apartments that suit their specific needs, having combined apartments in previous projects as well.&nbsp;

[smartcode_project:default project_id=110379 project_image_fid=198678]

“In Eva Lane Cove at 2 Waterview Drive, which was completed in 2019, we amalgamated three apartments into one massive penthouse sold at $3,150,000 - which still remains the highest achieved price for an apartment in Lane Cove.”

“Also in the same project we amalgamated two apartments into a large three-bedroom home, also on the top floor.“&nbsp;

One, two and three-bedroom apartments are still remaining in the lower north shore project, with prices starting from $850,000.

[smartcode_project_cta:default project_id=110379]

Hyecorp knock over $5.05 million   St Leonards apartment sale in Audrey

Mirvac will start construction on the latest stage of Australia’s first racecourse fronting community, Ascot Green, with the $135 million Charlton House the next instalment in the historic Eagle Farm redevelopment.&nbsp;

In a bid to address a significant shortage of new apartments in the city, work will begin on the 14-level apartment building, with Mirvac working with Eagle Farm Racecourse owner, Brisbane Racing Club (BRC), just three months after its launch to market, with more than $70 million of apartments already sold - predominately to local buyers.&nbsp;

[smartcode_project:default project_id=108351 project_image_fid=179497]

According to new research released in Place Advisory’s Spring 2022 Apartment report, it is estimated Brisbane currently has just two months of new apartment supply, with deferred projects exacerbating supply and demand pressures.&nbsp;

Reinforcing its confidence in Brisbane, Charlton House is the third apartment project that ASX-listed developer, Mirvac currently has under construction in the city, delivering housing diversity in some of the most sought-after inner ring precincts.&nbsp;

Mirvac General Manager Residential Queensland, Warwick Bible, said the start of construction was a major milestone for the community, following the fast-tracking of Charlton House to meet demand.&nbsp;

“Our buyers have shown strong confidence in Charlton House and, to start construction just three months after launch, shows we echo that confidence in this development and the broader Brisbane apartment market,” he said.

“This milestone gives our purchasers certainty with the knowledge their apartment is being delivered by Mirvac that designs, masterplans and manages its projects every step of the way and which has done so for over 50 years."

[smartcode_project:default project_id=108351 project_image_fid=194813]

“The start of construction also signals the next phase of urban renewal for the historic Eagle Farm, giving more people the opportunity to live in this fantastic location,” he added.

Charlton House marks the third stage of Mirvac’s Ascot Green community, part of Brisbane Racing Club’s $1.5 billion masterplanned redevelopment of Eagle Farm, which will see the precinct transformed with luxury apartments, offices, a new shopping and dining precinct and a range of entertainment options.&nbsp;

Mirvac has already completed and sold-out Tulloch House and Ascot House at Ascot Green, with both buildings situated directly on Eagle Farm Racecourse, in the blue-chip suburb of Ascot.&nbsp;

Charlton House will comprise 113 one, two, three and four-bedroom apartments, and a limited collection of three and four-bedroom villas, with apartments sold from $499,000 through to more than $3 million.

[smartcode_project:default project_id=108351 project_image_fid=194811]

&nbsp;“Given about a third of Ascot is racecourse, there is very limited supply in this highly sought-after precinct, with demand only set to grow leading up to the 2032 Olympics, with the precinct’s proximity to facilities like the Athlete’s Village in Hamilton and Brisbane Indoor Sports Stadium in Albion," continued Bible.

“Larger apartments designed for owner-occupiers are in extremely high demand in Brisbane’s inner- ring, and buyers have been quick to secure their place at Charlton House as a result, with our premium apartments among the first to sell.”&nbsp;

Brisbane Racing Club Chairman, Neville Bell OAM, said the start of construction is an important stage in the BRC Masterplan.&nbsp;

“The commencement of Charlton House is the third stage of our partnership with Mirvac, undoubtedly a significant milestone in working towards the completion of the Brisbane Racing Club’s $1.5 billion Masterplan,” he said.

 
“Our Masterplan has set the standard for the redevelopment of ancillary land owned by race clubs around the country, in doing so we are safeguarding our legacy and relevance as a club for years to come."

[smartcode_project:default project_id=108351 project_image_fid=194814]

“Eagle Farm Racecourse is the heart of the Ascot and we look forward to welcoming the residents of the 113 residences to our community,” Bell added.&nbsp;

Bible said Charlton House, like previous Ascot Green releases, was popular with downsizers, although its diverse apartment offering appeals to a range of buyers, including young professionals and families.&nbsp;

“The location of Charlton House sets it apart. It is extremely rare – unique, even - to live in an inner-city apartment surrounded by 50 hectares of green space, including the racecourse,” he said.

“The tranquillity the location offers, close to the CBD, restaurants, cafes, shops and the airport, is attracting purchasers across the board."&nbsp;

[smartcode_project:default project_id=108351 project_image_fid=179498]

Designed by Mirvac Design, Charlton House features a rooftop sanctuary with a private dining room taking in Brisbane city skyline views. It also features intimate lounge areas and extensive sub-tropical landscaping, with a gym and resort-style pool on the ground level overlooking the racecourse.&nbsp;

Charlton House joins the $197 million Quay luxury riverside apartments, along with Mirvac’s first QLD build-to-rent project, the $270 million dual-tower LIV Anura, which are both under construction in the $1 billion Brisbane River development, Waterfront Newstead.

Mirvac Construction, the Group’s dedicated construction arm, is building all three projects, with Charlton House to create more than 300 direct and indirect construction jobs over its 21-month build program, anticipated for completion in mid-2024.&nbsp;

[smartcode_project_cta:default project_id=108351]

Reinforcing its confidence in Brisbane, Charlton House is the third apartment project ASX-listed developer Mirvac currently has under construction in the city, delivering housing diversity in some of the most sought-after inner ring precincts. 

Construction begins on latest Ascot apartment stage in Mirvac’s Eagle Farm redevelopment

Former Collingwood and Hawthorn footballer Scott Crow has lodged plans for a 203-apartment tower in Broadbeach.&nbsp;

The 33-storey tower at 33 Armrick Avenue will deliver a mix of one, two, three and four-bedroom apartments, designed by Plus Architecture, with the tower set to take on a tall, curved form that embraces the sub-tropical coastal lifestyle.&nbsp;

<img alt="Render of the proposed residential tower on Armrick Ave" data-entity-type="file" data-entity-uuid="1b6850d7-8c76-48b2-92de-750ddbcb239b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-14%20at%205.40.56%20pm.png?VersionId=.yagfyhJl9dNxPEZqOnG6XqcrZG5TqK9" />Render of the proposed Armrick Ave development. Credit: Plus

In their design statement submitted to the Gold Coast City Council, Plus noted that the project&nbsp;embodies the nostalgic character of the Gold Coast, with a contemporary, well considered architectural response&nbsp;through form, materiality and response to climate and context

The adoption of a sophisticated palette of external materials and finishes, together with the sleek form and styling of the architecture, will achieve a highly iconic residential tower that will resonate positively with the evolving light rail corridor, within which it is situated, and support the advancement of the city’s iconic skyline.&nbsp;

Further embellishment has also been added through a generous landscape design, both at ground level and through the structured podium levels.&nbsp;

Level three of the podium will house the recreation level, with plans for a gym, outdoor lounge and fire pit, yoga deck, two small cold pools, a large pool, complemented by floating day beds, a spa and shallow pool, private cabanas, lounge terrace, sauna and steam rooms, powder room, residential storage areas, barbecue areas and a bar nook.&nbsp;

The residences will begin from level five, with two one-bedroom, five two-bedroom and one three-bedroom apartments planned for each level until level 21.

Level 22 of the development comprises five units, situated within the eastern portion of the floorplate, with one one-bedroom, three two-bedroom and one three-bedroom apartment. &nbsp;

<img alt="Render of the Armrick Ave pedestrian entry" data-entity-type="file" data-entity-uuid="d2bf5dde-7c33-4f9d-a364-02447739583a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-14%20at%205.41.32%20pm.png?VersionId=73pjIa6mHmcWB_R9zi4dE1Tkv4MLD3Hn" />Render of the Armrick Ave pedestrian entry. Credit: Plus

From level 23 to 30, six residences will occupy each level, with four two-bedroom, and two three-bedroom apartments.&nbsp;

Taking up stock in the upper levels of the tower is a collection of sub-penthouses and penthouses.&nbsp;

Level 31 comprises four sub-penthouses, each with a master suite, as well as two additional bedrooms and bathrooms, a laundry room, multi-purpose room, a butler’s pantry, as well as an open plan kitchen, dining and living space that opens to a private outdoor space.&nbsp;

Two two-storey penthouses top out the development, with one occupying the northern area of the floorplate and the second in the southern.&nbsp;

The two penthouses mirror one another with the internal design, comprising three-bedrooms, a multi-purpose room, a laundry, a powder room, and an open plan kitchen, dining and two living areas.&nbsp;

<img alt="Render of the Armrick Ave facade" data-entity-type="file" data-entity-uuid="358b8063-b0d0-4442-99b1-45cb27c80f86" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-14%20at%205.51.41%20pm.png?VersionId=Z37u55IdSlxK5e1mLDi1L7D.qgghznyK" />Render of the Armrick Ave facade. Credit: Plus&nbsp;

The eastern area of the floor plate will feature a pool, sun deck, outdoor kitchen and barbecue area, dining as well as a fire pit.

Overall, the site sits within a highly desirable location, benefiting from ease of access to a wide range of local attractions, shopping, leisure, and recreational pursuits, along with direct access to the public transport network.&nbsp;

Extensive open space areas are located to the west, including Cascade Gardens, Kokoda Memorial Park, Surfers Paradise Rotary Park, Queensland Korean War Memorial and Platell Park.&nbsp;

To the south is the Broadbeach Park, known as Nikiforides Family Park, and the Broadbeach Bowls Club, while further south, approximately 850-metres away is Broadbeach’s city centre, with the Gold Coast Convention and Exhibition Centre.&nbsp;

To the north is the Gold Coast Light Rail Network as well as the centre of Surfers Paradise, while further north-west is the Nerang River, where opportunities for fishing and water sports can be gained via the John Fraser Memorial Park and dedicated fishing area.

The 33-storey tower at 33 Armrick Avenue will deliver a mix of one, two, three and four-bedroom apartments, designed by Plus Architecture, with the tower set to take on a tall, curved form that embraces the sub-tropical coastal lifestyle. 

First Look: Plus-designed Broadbeach apartment tower set for Armrick Avenue

Perth is defying the odds with house prices up marginally across the city, despite rate hikes and and falling national house values.&nbsp;

Recent PropTrack data shows Perth was the highest performing capital city for house price growth, recording a 9 per cent growth across the past year.

As developers continue to flock to the western side of the country, and with a number of developments currently on the market, we’ve wrapped up our top picks of the best apartments currently selling in Perth.

<h2>Florin Parkside</h2>

[smartcode_project:default project_id=108682 project_image_fid=200529]

Florin Parkside marks the second venture into the Perth property market for developers, Stirling Capital, who commenced construction on the project in July.&nbsp;

The $32 million project will bring 63 residences to the area, with the family-sized apartments offering sweeping views to the neighbouring park and CBD skyline.

Though just minutes from Perth’s city centre, Jolimont is set in tranquil surrounds of lush green parklands and tree-lined streets, with Henderson Park and Mabel Talbot Park at the centre.

[smartcode_project:default project_id=108682 project_image_fid=200530]

Residents will be at home with a suite of resort-style facilities including a dining room, resident lounge, pet wash, parcel smart locker system, lockable storerooms, bicycle parking, security camera system, and EV charging stations.&nbsp;

A mix of one, two, three and four-bedroom apartments are on offer, with floorplans spanning from 86 sqm to 289 sqm.&nbsp;

<h2>Cirque Duet</h2>

[smartcode_project:default project_id=8516 project_image_fid=191418]

Cirque Duet’s 19-storey tower rises high into the skyline of Mount Pleasant’s Canning Bridge, with Stirling Capital’s latest venture landing in the heart of the long-established community.

Comprising a mix of one, two and three bedroom residences, Cirque Duet’s residences have been designed to take advantage of the panoramic views across the Canning and Swan Rivers, to Perth’s CBD and the Eastern Hills.

With its bold, contemporary design, Cirque Duet connects Ogilvie and Kirshorn Roads with a new public walkway, featuring a chromaflow wall art instillation.

[smartcode_project:default project_id=8516 project_image_fid=191420]

Designed by award-winning architects, MJA Studio, the vision for Cirque Duet is based on four core pillars; community, sustainability, wellness and luxury.

Inspired by resort-style living, Cirque’s expansive podium deck connects the two towers, above street level, providing more than 3,000 sqm of facilities and amenities,&nbsp;including a heated swimming pool, spa, sauna, and gym, along with private dining rooms, cabanas, a cocktail bar, barbecue facilities and a children’s playground.

Stirling released the accompanying tower apartments back in 2019 , achieving a sell out on the first stage along with a string of awards for the project.&nbsp;

<h2>Rivean Residences</h2>

[smartcode_project:default project_id=95299 project_image_fid=178796]

In a collaboration between Aria Land and Blueways Group comes Rivean Residences.&nbsp;

Nestled close to the world-class Matilda Bay Reserve and Swan River, the boutique development comprises just 28 apartments, designed by award-winning architecture and building firm, Giorgi.&nbsp;

As its name suggests, Rivean has a close affinity with nature, with its exterior design continuing this connection through a carefully selected blend of raw and natural materials.

[smartcode_project:default project_id=95299 project_image_fid=178804]

A mix of two and three-bedrooms are on offer in the project, with the lower levels benefitting from landscaped gardens, while the upper levels enjoy expansive city views.&nbsp;

Construction has started, with the project enjoying high success upon launching, with over 50 per cent of the residents already sold.&nbsp;

A limited selection of apartments can still be snapped up, with floorplans spanning from 122 sqm to 277 sqm.&nbsp;

<h2>The Terraces</h2>

[smartcode_project:default project_id=111894 project_image_fid=190166]

Iris Residential's new Claremont development, The Terraces, has been in high demand since its recent launch.

Located among the tree-lined streets, The Terraces are at the heart of one of Perth’s most affluent and sought-after suburbs.

Delivering a mix of one, two and three-bedroom apartments across a seven-storey building, over 95 per cent of the residences will boast panoramic views to the historic Claremont Oval.

[smartcode_project:default project_id=111894 project_image_fid=190165]

Inspired by the terraced grandstands that grace the world’s most famous sporting grounds, The Terraces have been thoughtfully designed with owner-occupiers in mind, reaching new heights in sustainable living and design innovation.

Residents will also benefit from access to private onside amenity including two private landscaped podiums, a resident’s lounge and dining room, as well as a gym.

<h2>The Pearl&nbsp;</h2>

[smartcode_project:default project_id=9197 project_image_fid=203301]

Perth property developer Prosper Living has just launched The Pearl, a mixed-use development on one of South Perth's best streets.

The Pearl will rise 25 levels from 3 Lyall Street, just a stones throw from the Swan River. There will be 137 one, two and three-bedroom apartments across the tower, which will also include three two-level sub-penthouses, as well as a special penthouse across the top two levels.

designed to be delivered as a 5-star Green Star mixed-use development, with retail and hospitality located across the ground floor plane.&nbsp;

[smartcode_project:default project_id=9197 project_image_fid=203302]

Following an open-plan layout, the apartments connect to expansive balconies, offering panoramic views across the River to the City skyline in the east, Matlida Bay to the west and the Canning Bridge and the Canning River in the south-east.

Level three will be home to The Pearl’s residential amenity, with a lounge and dining area, along with a fully equipped kitchen and large temperature-controlled wine storage, a games room and pool table, and a 12-seater cinema.

The space is also set to include an infinity edge pool, with the pool deck sitting amongst lush greenery and a herb and citrus garden, as well as an alfresco entertainment area, complete with a barbecue area and an enclosed dining space, along with a massage room, a yoga deck, a gym and a sauna and steam room.

<h2>Amara City Gardens</h2>

[smartcode_project:default project_id=8266 project_image_fid=158137]

Integrated with high-end retail, Amara City Gardens is the only private residences situated within the Garden City Perth precinct.

Iris Residential are developing the project which will home 124 one, two and three-bedroom apartments in the established suburb of Booragoon, with West Australian-based BGC Construction behind the build of the residences.&nbsp;&nbsp;

Designed by Cameron Chisholm Nicol, each apartment features open-plan living, mirrored robes and the choice between three contemporary colour schemes.

[smartcode_project:default project_id=8266 project_image_fid=158129]

The project captures buyers’ increased interest in its generous resident amenity, quality architecture and great location, thanks to the neighbourhood’s convenient mix of parks, reserves and commercial offerings.

The group are expecting buyers of their Amara City Gardens development to be ready to move into their new homes in Spring this year, with construction having proceeded as planned thus far.

Two and three-bedders are still available in the project, with prices starting from&nbsp;$645,000

<h2>Shenton Quarter</h2>

[smartcode_project:default project_id=26734 project_image_fid=153694]

Iris Residential is behind the Shenton Park residences, Shenton Quarter.

Designed by Cameron Chisholm Nicol Architects, each apartment offers an unrivalled way of living within a vibrant, environmentally conscious community.

[smartcode_project:default project_id=26734 project_image_fid=153706]

Shenton Quarter features landscaped gardens, lounge and dining area, fruit orchid, 20-metre heated swimming pool, barbeque deck and children’s play area.

The development boasts as many as 50 unique floor plan layouts, each furnished with Smeg appliances, reconstituted stone benchtops and the choice between three colour schemes.

Two and three-bedroom apartments can still be snapped up in the project, with prices starting from $590,000.&nbsp;

As developers continue to flock to the western side of the country, and with a number of developments currently on the market, we’ve wrapped up our top picks of the best apartments currently selling in Perth.

Perth's top seven off the plan apartment selling now

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

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Alison Warters

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