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The wildfires that ripped through the millionaire’s beachside sanctuary of Prevelly in WA’s Margaret River have turned dozens of houses to ash, including Michael Chaney’s historic Wallcliffe House.
Ten of millions of dollars in property have been wiped off the value of coastal communities of Gnarabup and Prevelly.
Scores of houses have been damaged during several days of fire, which was caused by a controlled burn-off that went horribly wrong.
The historic Wallcliffe House was among the official count of 31 houses destroyed.
On Thursday the shingles of the 1865-built house caught alight and fire tore through the stone buildings, including the recently added guest wing.
The house is owned by Perth millionaire and NAB chairman Michael Chaney and his wife, Rose. It cost $5 million in 2001. So committed to the house that Rose took the long-time gardener, the late Colin Thompson, to Europe to inspect and replicate the gardens of Spain’s Alhambra.
Wallcliffe House was a two-storey stone, shingle and corrugated iron homestead designed in the Victorian Georgian style built by the Bussell family. The five-hectare property also had long associations with the Terry and Hohnen families.
The luxury 10-cabin Isaac’s Ridge Cottages was also destroyed and some tourists lost their belongings and had to camp at the beach for safety.
Prestige wineries including Voyager Estate, Cape Mentelle and the Leeuwin Estate were all evacuated and being closely monitored.
Cashed-up holiday makers have been calling local estate agents concerned that their beachside Christmas rentals were under threat.
Premium properties in Prevelly leased for $5,000 a week during the festive season, when the area is heavily booked.
Local holiday leasing agent Jacqueline Keller says it is too early to even guess which houses have been destroyed or damaged.
“We only know what we are hearing on the radio, but our phones have been running hot. We are just glad there has been no loss of life,” she says.
In Prevelly and surrounding areas, which is a favourite haunt of Hugh Jackman, dozens of holiday investments properties are heavily leased for the week of Christmas.
About 15 houses in the afflicted area listed for sale with price tags of between $800,000 and $3 million. It is not yet known if any are still standing.
Premier Colin Barnett has declared the area a natural disaster zone and promised a full inquiry will take place into how the blaze happened.
The Premier said that those who lost their homes will receive an immediate compensation payment of $3,000 from the state government while those whose homes were damaged will get $1,000.
Photograph of Wallcliffe house in 1902 courtesy of Margaret River and Districts Historical Society Inc.
 
 
 
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Michael Chaney's historic Margaret River retreat burnt in WA bushfires

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Little-known Perth real estate investment company FJM Property is part of the consortium of three behind the $580 million redevelopment of Perth’s Old Treasury Buildings.
Premier Colin Barnett has agreed to a 99-year lease with the Mirvac/CBus Property consortium, with the state paying a premium rent of $102 million over $25 years.
The Treasury buildings will be refurbished into an ultra-exclusive Aman Resort while a 35-level office tower will be developed at the centre of the site, which is part of the St George’s Terrace Cathedral Heritage Precinct. The development is expected to be completed in 2014.
“We are the equity investors behind the hotel, but the building will remain a state asset. To be converting something that was one of the most important state buildings in WA is very exciting both from the heritage perspective and that we are breathing life back into a building that has sat unloved for 15 years,” says FJM director Tim Mack.
While FJM may not be widely recognised, chief executive Adrian Fini brings much experience from his many years as executive director of development for Mirvac WA and then as a non-executive director until his resignation from the board last year.
Fini is involved in several smaller projects, including the addition of a hotel to Fremantle’s Little Creatures boutique brewery and restaurant in Fremantle, but the Treasury is the company’s highest-profile acquisition to date.
It has teamed up with uber-chic Hong Kong-based Aman Resorts to manage the site.
Singapore and Fremantle-based architect Kerry Hill, who has made his name by creating some of the world’s most beautiful resorts such as Amannusa in Bali and The Datai in Langkawki, will provide creative direction.
Already it has been decided that preservation is key. While keeping most of their unique shapes, two and three original offices will be joined together to create each of the 48 rooms that will range in size from 50 square metres to 150 square metres. The building will have all the trimmings expected of a six-star operation, including a private library for guests.
“It will have a very authentic and timeless style. Aman brings together indigenous culture, Asian simplicity and European comforts,” says Mack.
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Perth's Old Treasury to become Aman Resort 

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Greedy vendors and scare tactics from the Reserve Bank have flushed scores of investors out of the WA residential market.
Leading estate agent Geoff Baldwin, managing director of RE/MAX, believes that the Perth market is full of “dead stock” that has languished because of owners’ wishful thinking.
“Investors usually represent about 25% of buyers in Perth and this has fallen to a low of 10%. They are not likely to return to the market until vendor expectation meets market conditions and the Reserve Bank stops scaring people with threats of rate rises,” Baldwin says.
Figures released by the Real Estate Institute of WA reveal that listings have tumbled by 11% since the end of June.
REIWA head of research Stewart Darby says the fall in listings is due to people withdrawing their properties from sale. The REIWA research shows that 15,500 residential properties are currently for sale.
Baldwin believes this figure is closer to 18,000 and says a large proportion of these properties were bought at the peak of the boom.
“People are being squeezed out by a tough economy, interest rates and unemployment. Many buyers committed 50% of their income to their mortgage, and deposits were just 5%. It does not take much to push many overextended home owners over the financial edge,” Baldwin says.
“This two-speed economy in WA can be hard on people that are not working within the resources sector. People just are not prepared to take a hit on their home when they first list is for sale and by the time they accept their situation it has become far worse, more money has been put on the mortgage and the value of their property has dropped further.”
He says he refuses to list houses he deems “unsalable”.
The agent recently sold a house in suburban Perth where the vendor had to borrow money from his family in order to settle the sale.
“We reduced our commission and the bank helped in its own way. While this is extreme, we should expect to see more sales where there is negative equity. As people come to terms with values, investors should slowly return to more stable market,” he says.
RP Data-Rismark’s Hedonic Home Value Index has Perth’s median house price at $455,000, which is down 6.3% on last year’s July quarter figure of $475,000.
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Unrealistic vendor expectations flooding Perth market with 'dead stock'

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Little-known Perth-based developer Finbar is making an impressive mark on the face of Karratha in the Pilbara.
The developer, which has made its name developing high-rise apartments with some office space around Perth, is shaping the future of accommodation in the mining boom town.
Its $225 million Pelago project on Sharpe Avenue, Karratha will have 292 residential apartments and 22 commercial lots.
In stage 1 – called Pelago West –  63 apartments have been sold for  $44.5 million. In another deal, nine apartments have been leased to CHC, one of the world’s largest helicopter transport companies. The leases are for five years with 4% or CPI increases annually. The average rent is $1,100 a week, and CHC has agreed to $16,000 per unit for furniture and equipment and the company pays all shire rates, management fees, land tax, water rates and strata levies.
Finbar is offering the nine one-bedroom apartments for sale for $609,300 – which includes a $16,300 furniture package – reflecting a net yield of 9.36%.
Pelago West has 114 one-, two- and three-bedroom apartments with eight commercial lots over eight levels. It is expected to be finished in the first quarter of 2012, and building is running to schedule.
Karratha, which is 1,500 kilometres north of Perth, is the important administration centre for resource companies operating in the region. It has a large population of fly-in fly-out workers, and a growing number of people live there. The WA government has targeted the town as part of its $300 million Pilbara Cities project, which is attempting to create a Dubai-style city in Karratha with satellites in Dampier and Port Hedland.
Finbar was first cab off the rank and is now turning its attention to the second stage of the project, Pelago East.
Regional Development and Lands Minister Brendon Grylls recently announced $30.4 million from the Royalties for Regions fund to build a village for workers in Karratha, including 100 houses to be developed by National Lifestyle Villages.
For advice on buying off the plan download our free e-book.
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Developer Finbar making an impact in WA desert

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The shabby face of Fremantle may get a much-needed makeover, with the council entering discussions about the redevelopment of the languishing Kings Square site.
Fremantle entered into a memorandum of understanding with Perth private equity firm Sirona Capital Management, which owns the ageing Myer building on the site.
Sirona, which has retained property developer Luke Saranceni to run the project, plans to deliver 20,000 square metres of refurbished retail and commercial space worth $80 million in 2013.
Earlier this year Myer was considering closing its door after 40 years of trading there. A delegation from Fremantle Council visited Melbourne to persuade the retailer to stay. It currently trades from only two levels of the four-floor building, which Perth financier Kelvin Flynn’s Sirona bought earlier this year.
The council owns much of the property on the historic square and is considering putting a hotel on the site. The MOU allows feasibility studies negotiations with Sirona to take place until June 2012.
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Kings Square in Fremantle set for a facelift

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{yoogallery src=[images/stories/october11oceanique]}
Serious money is beginning to trickle back in the WA’s troubled prestige residential market, with Port Bouvard securing another two settlements on its Oceanique development. 
Located on the waterfront at Dawesville, south of Perth, the latest settlement is for a $2.1 million apartment in the glamorous project. This brings the total number of sales to 27 units in the 66-unit twin-tower building, for a total of $65.7 million. 
Despite being lauded with awards from the Master Builders association, the UDIA and the Royal Australian Institute of Architects WA Chapter, the project was released into a troubled market. 
“Sales are slow but we are making them, which is good for these market conditions,” says Port Bouvard executive director Stephen Court. 
Of the 27 sales, 19 relate to presales and eight are deals secured since December, when the company discounted some units by 40%. 
The developer has targeted investors who specialise in buying display units and lease them back for its three display apartments in Oceanique. 
“We are offering a 9% return for two years on these units, which are worth between $900,000 and $2 million,” Court says. “This is a tried-and-tested marketing method and a good opportunity for investors with their cash parked up to get into the market at low and even sub-market prices.” 
<a href="https://www.propertyobserver.com.au/news/was-south-west-shaken-not-stirred/2011070650723" target="_blank">Late last year the company started a savage price-slashing campaign to stimulate interest</a>, and it brought several sales to the table and renewed interest. 
Now prices are steady at 25% off original projections set in 2007. “We started marketing Oceanique in 2007 when the market was blasting along, so we were hit hard by the GFC,” Court says. 
The company is pursuing some sales made off the plan through the Supreme Court.
About half of the 15 pre-sales are currently in mediation as part of the judicial process while the balance are in “sensible negotiations” with the developer. “Some people were ruined by the GFC and we are not interested in that type of business, but we will go all the way to settle deals that were done,” Court says says. 
Next year Port Bouvard will start construction of a massive 3,080-home site and marina development at Point Grey in WA’s Peel region and has plans for a canal project in Esperance for 2014.
For advice on buying off the plan download our free e-book.
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Calmer waters for WA's luxury Oceanique development as sales pick up

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Perth’s CBD would be a ghost town if it were not for the constant demands of bourgeoning resources companies.
The four big players – BHP Billiton, Chevron, Rio Tinto and Woodside – take nearly 20% of the CBD’s 1.5 million square metres of office space.
BHP, which is preparing to move into the city’s newest and most glamorous address, City Square, next year, takes up a massive 100,000 square metres of space spread across the CBD. Currently this includes 18,000 square metres in Central Park on St Georges Terrace and 15,000 square metres in 225 St Georges Terrace plus 3,000 square metres in 66 Murray Street, which is dedicated to training. The mining giant has other space in about four different buildings around town.
Four years ago BHP pre-committed to 40,000 square metres in the City Square project. Within the year this pre-commitment expanded to 60,000 square metres, which put the frighteners on several of the building owners who could ill afford to lose BHP as a tenant. However, the power of the resources boom has ensured that BHP will remain in its many leased addresses while expanding into City Square.
Meanwhile, over the past five years Chevron has been growing, with its initial 13,500-square-metre take-up of space climbing to about 68,000 square metres today. It is widely known that the oil company is looking to buy its own premises. Rio Tinto and Woodside each lease about 50,000 square metre of commercial space in the Perth CBD.
The Property Council WA deputy executive director Lino Iacomella agrees that the mining sector is the most important player in the CBD.
“Resources companies are the main driver of commercial office space in the Perth CBD, and increasingly those companies that are doing business with the core resource companies are becoming important players in the office leasing market,” he says.
In fact, most new office buildings going up have exposure to the mining sector.
“Mining companies are constantly bringing more people in to work in Perth. This creates a market not only for office space, but for new restaurants, shops and small bars and gives confidence for the very big projects like the Waterfront development and the state government’s Northbridge Link to go ahead,” Iacomella says.
Savills forecasts a 2.8% office vacancy rate for the September quarter. The report claims that the combined office take up from resources and associated supply companies account for more than half of the CBD’s leasing profile.
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Mining companies dig deep into Perth's CBD office rental stock

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The Western Australian government has offered a massive parcel of prime Perth CBD property for sale with hopes that it will realise more than $1 billion.
Expressions of interest for the 5.2-hectare riverfront site have been called internationally, with the government amalgamating many holdings into a single package to sell to one buyer.
It is being touted as the West’s version of Barangaroo in Sydney.
“It will be sold to a single buyer, but that is likely to be a consortium of developers,” says WA Planning Minister John Day.
According to the minister, the site will be developed into low-level office buildings, a retail strip that will connect the CBD to the Northbridge entertainment precinct, residential apartments and a prestige hotel.
“We need to bring more people to live in the Perth CBDm so there should be a large residential component,” he says.
Local interest is expected from Brookfield Multiplex, Lend Lease and Mirvac, and Singapore’s Fraser Group and cashed-up Dutch and Canadian superfunds, which already have a strong presence in Perth, are expected to put their feelers out.
Known as the Perth City Link project, it is the WA’s largest development plan. It will include the sinking of the inner-city rail line to build residential apartments overhead. The state will also pick up the cost of creating a public square within the project.
The Perth City Link is part of the large-scale redevelopment of the waterfront that includes the Riverside project near the city causeway.
Expressions of interest close in November.
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Billion-dollar hopes sought for Perth's Barangaroo

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A delegation of Chinese investors has inspected several farming properties in Western Australia’s Great Southern food bowl.
It included representatives of the Beidahuang BDH Group, a state-owned company that has 5 million hectares in China’s Heilongjiang province.
The arrival of serious interest from Chinese in agricultural land has divided local farmers and the WA Farmers Federation.
The delegation of about a dozen people, which included agronomists, farmers and government officials, toured grain farms at Lake King and Ongerup with a local agent.
Nearby Lake Grace farmer and WA Grains Group chairman Doug Clarke says that he has had three meetings with the delegation regarding investment in local agricultural land.
“The Chinese buy or lease farms in Brazil, Argentina, New Zealand and North Africa and in return they develop excellent infrastructure,” he says.
Great Southern farmers have made it clear to the Chinese they that want good port access and a sophisticated supply chain that is available for them to use as a third party. The Great Southern region ships through the Albany port zone.
“The delegation was responsive, and farmers here like the idea. I have been fielding a lot of calls from farmers I know wanting me to introduce the delegation to them,” he says.
So far the delegation has inspected properties that are already on the market, and foreign investors already own one –the Lake King property.
“The Chinese take their food security very seriously. One of them told me they produce 1.2 billion tonnes of grain and that is not enough,” Clare says. “Where we only produce about 3% of the world’s grain. We are very small in comparison.”
The WA Farmers Federation has expressed serious concerns about interest from China in 80,000 hectares of prime Western Australian cropping land.
Federation president Mike Norton believes if a large swathe of farmland falls under single ownership that many rural towns in the regions will disappear.</body></html>

Chinese investors eye Australian farm property

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Plans to mine parts of the Western Australia’s beautiful Margaret River prompted outrage among locals, politicians and the rich and famous.
Adventurer Michael Palin released YouTube video asking “who in their right minds” would mine Margaret River, and comedian Ben Elton has ridiculed the planned Vasse underground coal project. Actor Hugh Jackman proclaims the region is his favourite holiday destination in the world.
The coast, which is about 300 kilometres south of Perth, has world-class surf beaches, million-dollar mansions, upscale restaurants and some of the most important vineyards in Australia. From Christmas to Easter the entire south-west region is a low-key millionaire’s playground.
Two action groups, the No COALition, which fights coal projects, and SOS Margaret River, aim to quarantine the region from oil and gas development, quickly formed at the first sniff of interest from the resources industry.
In March mining outfit LD Operations planned for further studies for its proposed Vasse Coal Project, a huge underground mine just 15 kilometres from the town of Margaret River, was given a resounding no by the Environment Protection Authority.  Residents were concerned that groundwater could be contaminated and the area’s prestigious reputation as a holiday hotspot would be diminished.
That combined with powerful and relentless lobby groups and the area’s iconic status prompted resources-loving WA Premier Colin Barnett to declare Margaret River as a mining no-go zone.
Then in May, Barnett was reported to tell a Perth business lunch that he was prepared “to act” to block Vasse Coal Project.
“I don’t know how [LD’s appeal] will pan out, but at the end of the day it is up to the elected governments to make decisions, and it would take a powerful argument to convince me that we should place at risk the standing of the Margaret River,” he told the lunch.
Now the EPA has received close to 800 individual comments across 30 issues relating to the Vasse Coal Project. LD Operation’s appeal is with EPA conveners and a decision is expected within about two months.
LD Operations managing director Peter Ross has concerns about the validity of the EPA’s decision.
“We are currently going through the appeals process against what we believe was a premature decision by the EPA. Part of our concern with that decision was that it prevented a full environmental, social and economic assessment of what the impacts – positive or requiring management – of this project may be,” Ross says.
State opposition spokeswoman on the environment Sally Talbot says a local strategy needs to be developed to protect the unique qualities of the Margaret River.
“We did a similar thing for the Swan Valley some years ago and the same needs to be done in the south-west. Planning Minister Bill Marmion has had the EPA’s report for months and not made a single comment. It is incumbent upon him to state the government’s position on this,” Talbot says.
In New South Wales the same issue hangs over the wine-producing Hunter Valley. Barry O’Farrell’s government promised tough new restrictions to be placed on mining with favour falling to landowners.
Hunter Valley winemaker and activist Andrew Margan says that between a population boom and coal seam gas exploration vineyards have come under serious threat.
“AGL completed its first stage of exploration in Broke, and I am right in the middle of it and lobbying the state government,” Margan says.
He wants the government to give priority to agriculture over other interests.
“Barry O’Farrell says his government will recognise the primacy of agriculture throughout NSW. We are very happy with that, but we are watching closely and want promises to be made into reality,” he says.
In Queensland a year ago the Surat Basin Future Direction Statement was created to maintain a balance between economic benefits and quality of life. The statement polarised landholder rights, the protection of the environment and maintaining a good quality of life in a region under pressure from billion-dollar energy interests.
Meanwhile, in France, where vineyards are proudly protected by law, a group of wine growers in the depressed north are remediating defunct coalmines for viticulture. About 3,000 chardonnay vines have been planted on spoil heaps of Pas-de-Calais overlooking the village of Haillicourt.
Leading the project is engineer Olivier Pucek, who was born "at the foot of a spoil heap" but moved away and now runs his own hobby vineyard in Charentes.
He pulled together a group of winemaking friends to put down €24,000 and with some financial support from Haillicourt, hopes to create a new palatable vin blanc named Carbonnay.</body></html>

Coal prospects hard for wine regions to swallow

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

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Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Andrea Dixon

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