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With production costs on the rise, land losing value and supermarket wars driving down the price of milk, Victorian dairy farmers are doing it tough. 
Farm gate milk prices have fallen 15% in 12 months to 35¢ per litre, according to recent ABC television program The Business. 
It now costs far more to produce a litre of milk than the farmer will recoup by selling it.
“Some farmers are earning as little as 28¢ a litre,” according to Kerry Callow, United Dairy Farmers of Victoria president.
“Most farmers are facing a loss this year … as the cost of feed and electricity has risen up to 50%,” says accountant and dairy specialist Gary Smith from Coffey Hunt Accountants. 
“On an average client, we are looking at a cashflow effect of $250,000.”
The rising costs are clear to Dick McAlpine, a dairy farmer from Woodside North. 
McAlpine told Stock &amp; Land the costs have rapidly increased for his 160-hectare property, from $6,000-$7,000 per month to approximately $11,000 per month.  
Not only are production costs rising, but farm prices in Victoria are to have gone from around $7,000 per acre to $4,000-$5,000 per acre, according to one report.
“Its common in today’s market for all farms, including dairy farms, to be on the market for many months,” according to Greg Tucket, a stock and station agent with Elders for 32 years.
There has been “scant enquiry”, and “I’m not seeing any sales in Gippsland of any significance” he told Stock &amp; Land.
Farmers have no choice but to wait for prices to pick up for both their properties and their products.
Land capital assets have been significantly devalued, according to Ron Paynter, deputy president of the United Dairy farmers of Victoria.
“Those with cash resources behind them have been able to purchase poorer-quality property at maybe three-quarters of the prices that were being asked four years ago,” Tucket said.
Farmers are trying to hold onto their values, with many farms on the market for over 12 months unable to find buyers.
Paul Bourke from Gippsland Real Estate says: “There are plenty of farms that could be bought at the right money… It is very tough at the moment, I haven’t seen it tougher.” 
Victoria is responsible for the majority of Australia's milk production producing over 65% of the total output.
<img src="/images/stories/2013/02/camperdown.jpg" width="470" height="306" alt="camperdown">
Property Observer compiled a list of three current offerings, including a <a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=99510">180-hectare holding at Camperdown Victoria</a> (pictured above), 194 kilometres south-west of Melbourne. The farm is described by First National Real Estate agents as an "outstanding, high-productive, well-balanced dairy farm situated in prime tightly held area".  The property is for sale at $2,447,500, representing $5,500 per acre or $13,597 per hectare.
A 186-hectare irrigation dairy farm (pictured below) in Yarram District is rated a 300-cow farm. <a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=102490">It's for sale at $3,600 per acre, or a total of $1,652,400</a>.
<img src="/images/stories/2013/02/farm2.jpg" width="470" height="290" alt="farm2">
<a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=93556">A 134 hectare Leongatha property </a>(pictured below) is listed at a rate of $6,250 per acre, or a total of $2,062,500.  
<img src="/images/stories/2013/02/farm3.jpg" width="470" height="353" alt="farm3">
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Sour news for Victorian dairy farmers as milk and property lose value

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A four-bedroom house in Somerton Park, South Australia, was the top sale in the country last week.
<img src="/images/stories/2013/02/wilkinsonave.jpg" width="470" height="353" alt="wilkinsonave">
 The house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/12_wilkinson_avenue_somerton_park_sa_5044/10530717">12 Wilkinson Avenue, </a><a href="/news">Somerton Park</a> (pictured above), was sold for $3 million last week by Lew Toop from Toop &amp; Toop Real Estate.
Built in 2010 and within walking distance of the beach, the house has three bathrooms and in-ground swimming pool, along with a four-car garage plus workshop and further off-street parking. 
On the market for 17 days, the 495-square-metre house sits on 925 square metres of land. 
The property was last sold for $1.21 million in July 2008, for $805,000 in August 2005 and $450,000 in June 2000, according to RP Data.
Somerton Park is located 12 kilometres south-west of Adelaide in sits within the local government area of Holdfast Bay.
 
In the last 12 months in Somerton Park:
<ul>
<li>53 houses sold</li>
<li>$580,000 median sale price</li>
<li>95 average days on market 
</li>
</ul>
The top 10 sales in Australia last week were (RP Data):
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/12_wilkinson_avenue_somerton_park_sa_5044/10530717">12 Wilkinson Avenue, Somerton Park, SA, 5044</a>, four-bedroom house, sold at auction on January 31 by Toop &amp; Toop Goodwood for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/945_barrenjoey_road_palm_beach_nsw_2108/5301020" target="_blank">945 Barrenjoey Road, Palm Beach, NSW, 2108</a>, five-bedroom house, sold on February 2 by Barrenjoey Properties Avalon for $2.159 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/49_brighton_avenue_toronto_nsw_2283/6910335" target="_blank">49 Brighton Avenue, Toronto, NSW, 2283</a>, four-bedroom house, sold at auction on January 31 by L J Hooker Toronto for $1.9 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/601/168_queenscliff_road_queenscliff_nsw_2096/16163917" target="_blank">601/168 Queenscliff Road, Queenscliff, NSW, 2096</a>, three-bedroom unit, sold on January 30 by McGrath Estate Agents for $1.6 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/3/4_young_street_paddington_nsw_2021/16161758" target="_blank">3/4 Young Street, Paddington, NSW, 2021</a>, three-bedroom unit, sold on January 31 by BresicWhitney Estate Agents Darlinghurst for $1.575 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/47_griffiths_street_fairlight_nsw_2094/2306239" target="_blank">47 Griffiths Street, Fairlight, NSW, 2094</a>, four-bedroom house, sold on January 30 by Cunninghams Property Balgowlah for $1.4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/46_greenlaw_street_indooroopilly_qld_4068/5160112" target="_blank">46 Greenlaw Street, Indooroopilly, QLD, 4068</a>, five-bedroom house, sold at auction on February 2 by Karen Mortland Inner West Specialist for $1.39 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/46_greenlaw_street_indooroopilly_qld_4068/5160112" target="_blank">16 Hillview Street, Sans Souci, NSW, 2219</a>, four-bedroom house, sold at auction on February 2 by PRD Nationwide Woodward for $1.378 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/2_frederick_street_malvern_vic_3144/11577137" target="_blank">2 Frederick Street, Malvern, VIC, 3144</a>, three-bedroom house, sold on January 31 by Bennison Mackinnon Armadale for $1.36 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/58_curry_street_merewether_nsw_2291/4208613" target="_blank">58 Curry Street, Merewether, NSW, 2291</a>, four-bedroom house, sold on January 31 by PRD Nationwide Newcastle for $1.35 million
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Four-bedroom South Australian house tops week's sales: RP Data

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New home sales increased by 6.2% seasonally adjusted nationally in December 2012.
The year ended strongly as December sales increased for the third consecutive month, according to the Housing Industry Association (HIA).
The HIA has released its new home sales report surveying Australia's largest builders. The December quarter showed an uptick of 3.3% in new home sales, although the figure  was down 12.7% on the same quarter 2011.
“The promising headline rise last December was driven by both detached house and multi-unit sales,” says HIA economist Geordan Murray.
“Furthermore, if we look at the under-performing market for 2012 – detached houses – the December improvement was broad-based as sales increased in all but one of the surveyed states.
“However, the overall result for 2012 leaves plenty of room for improvement.
"Detached house sales were weak throughout the year and compared with 2011 were down by 22.7%,” says Murray.
“On the other hand, multi-units sales were the star performer of 2012."
Multi-unit sales recovered from the record lows endured in 2011 and increased by 24.1% over 2012.”
“It is hoped that further signs of an impending new home building recovery emerge in coming months. However, it remains the case that lower interest rates alone will not deliver a recovery of the magnitude required by Australia’s economy and population,” says Murray.
Detached house sales in December and the December quarter:
 
New South Wales:         (Dec) +7.1%     (Dec Qtr) +14.4%
Victoria:                           (Dec) +6.0%      (Dec Qtr) -8.4%
Queensland:                    (Dec) +3.8%      (Dec Qtr) -5.5%
Western Australia:       (Dec) +12.2%    (Dec Qtr) +2.5%
South Australia:           (Dec) -1.8%       (Dec Qtr) +9.3%
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New home sales on the rise: HIA

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First-home buyers looking for a four-bedroom family home will have a hard time finding anywhere within 30 kilometres of the Melbourne CBD. 
Located 35 kilometres west of the city, Melton South is the closest suburb where first-home buyers can purchase a four-bedroom home and pay equal to or less than the average estimated first-home buyer mortgage repayment in Victoria of $414 per week.  
Aside from Melton South, first-home buyers looking for a four-bedroom home can find a residence in Frankston North, 37 kilometres south of Melbourne. 
There are a number of opportunities in rural Victoria for first-home buyers to find a four-bedroom home.  The Real Estate Institute of Victoria has listed such towns as Ararat, Ballarat (Wendouree), Bendigo (Eaglehawk), Colac, Corio, Kyabram, Longwarry, Mildura, Newcomb and Shepparton.
In order to find a four-bedroom home closer to the city, opportunities arise in the $430-$540 per week mortgage repayment range and are found in the outer suburbs of Melbourne.
The suburbs can be found in an interactive heat map showing weekly mortgage repayment price bands across Melbourne suburbs compiled by the Real Estate Institute of Victoria (REIV) as part of its new <a target="_blank" href="https://www.reiv.com.au/Property-Research/First-Home-Buyer-Guide">first-home buyer guide. </a>
The REIV has used a cut-off value of $430 per week, which is above the $414 per week median mortgage repayment. As a result of this, the heat map will show suburbs just above the first-home buyers' threshold as affordable.<a style="font-size: 0.8em;" target="_blank" href="https://www.reiv.com.au/Property-Research/First-Home-Buyer-Guide"> </a>
<a target="_blank" href="https://www.reiv.com.au/en/Property-Research/First-Home-Buyer-Guide/4-bedroom-houses"><img alt="reivjan22" height="629" width="470" src="/images/stories/2013/01/reivjan22.jpg"></a>
 
The $414 per week median mortgage repayment is based on the average first-home buyer loan size of approximately $286,600, a standard variable interest rate of 6.4%, receipt of the $7,000 first-home owners' grant, a loan term of 30 years, a 10% deposit, and benchmark lenders mortgage insurance (LMI) and conveyance fees.
<img alt="vicmap" height="618" width="470" src="/images/stories/2013/01/vicmap.jpg">
 
The full list starting with the cheapest is:
<a target="_blank" href="/news">Ararat</a>, $291 per week, median price of $220,000 <a target="_blank" href="/news">Kyabram</a>, $315 per week, median price of $237,500 <a target="_blank" href="/news">Frankston North</a>, $331 per week, median price of $249,000 <a target="_blank" href="/news">Corio</a>, $344 per week, median price of $258,750 <a target="_blank" href="/news">Morwell</a>, $356 per week, median price of $267,000 <a target="_blank" href="/news">Melton South</a>, $368 per week, median price of $276,250 <a target="_blank" href="/news">Bendigo </a>(<a target="_blank" href="/news">Eaglehawk</a>), $373 per week, median price of $280,000 <a target="_blank" href="/news">Mildura</a>, $375 per week, median price of $281,056 <a target="_blank" href="/news">Sebastopol</a>, $382 per week, median price of $286,000 <a href="/news">Horsham</a>, $384 per week, median price of $287,500 <a href="/news">Newcomb</a>, $384 per week, median price of $287,500 <a href="/news">Longwarry</a>, $390 per week, median price of 292,500 <a href="/news">Ballarat </a>(<a target="_blank" href="/news">Wendouree</a>), $394 per week, median price of $295,000 <a href="/news">Colac</a>, $401 per week, median price of $300,000 <a href="/news">Shepparton</a>, $401 per week, median price of $300,000
 
 
 
 
 
 
 
 
 
 
 
 
 
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Affordable four-bedroom houses in Victoria a long way from Melbourne: REIV

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Byron Bay's total property values have dropped 6.7% in the past three years, according to the NSW Valuer-General, with land owners in the Byron Bay local government area (LGA) recently issued with the fresh valuations.
These valuations are used for ratings purposes and reflect the land value based on market conditions as at July 1, 2012.
Byron Bay's 2012 valuation program consisted of a total of 13,036 properties, up from 12,800 in January 2010.
Property values in the Byron Bay municipality have generally decreased in the three-year period since the last valuation program was conducted.
“The total land value of the Byron Bay LGA as at 1 July 2012 was approximately $6.04 billion. This is an overall decrease from the total land value of $6.44 billion determined as at 1 July 2009,” says Valuer-General Phillip Western.
Residential land values have decreased slightly in the period, with the stronger falls in top-end suburbs such as Wategos Beach, Suffolk Park and New Brighton.
In contrast to the general decrease in value, residential land in parts of Mullumbimby and Sunrise Beach showed slight increases in value.
Commercial land values have followed a similar trend, generally showing a slight decrease, with the exception of a number of properties in Ocean Shores, which have shown a slight increase in value.
Industrial land has bucked the trend and generally recorded slight to moderate increase in value over the past three years.  This is can be demonstrated by values of similar properties in Bonanza Drive, Billinudgel, valued in both 2009 and 2012 and rising from $253 per square metre to 270 per square metre  This represents a 7% increase in value over the three-year period.
Rural properties and hobby farm land followed the general pattern and shown a slight decrease in value with the exception of Mullumbimby, showing slight to moderate increases in value.
Typical residential land values as at 1 July 2012 were:
<ul>
<li>616 square metres at Bottlebrush Crescent, Suffolk Park valued at $300,000</li>
<li>633 square metres at Cooper Street, Byron Bay valued at $370,000</li>
<li>718 square metres at Grevillea Avenue, Mullumbimby valued at $225,000</li>
<li>641 square metres at Ivory Curl Place, Bangalow valued at $265,000</li>
<li>613 square metres at Mullumbimbi Street, Brunswick Heads valued at $450,000</li>
<li>1,195 square metres at Tindara Avenue, Ocean Shores valued at $220,000</li>
<li>650 square metres at Mia Court, Ocean Shores valued at $315,000.</li>
</ul>
Typical commercial land values as at 1 July 2012 were:
<ul>
<li>607 square metres at Burringbar Street, Mullumbimby valued at $470,000</li>
<li>658 square metres at Fletcher Street, Byron Bay valued at $1,540,000.</li>
</ul>
Typical industrial land values as at 1 July 2012 were:
<ul>
<li>1,000 square metres at Bonanza Drive, Billinudgel valued at $270,000</li>
<li>1,494 square metres at Smith Street, Mullumbimby valued at $310,000</li>
<li>1,177 square metres at Centennial Circuit, Byron Bay valued at $500,000.</li>
</ul>
Typical rural land values as at 1 July 2012 were:
<ul>
<li>59 hectares at Kennedys Lane, Ewingsdale valued at $1,070,000</li>
<li>77 hectares at Vallances Road, Mullumbimby valued at $725,000.</li>
</ul>
Typical rural residential land values as at 1 July 2012 were:
<ul>
<li>7,625 square metres at Brushbox Drive, Mullumbimby Creek valued at $364,000</li>
<li>4,047 square metres at Figtree Court, Ewingsdale valued at $450,000</li>
<li>4.9 hectares at Friday Hut Road, Possum Creek valued at $550,000</li>
<li>2.5 hectares at Lagoon Drive, Myocum valued at $400,000.</li>
</ul>
Typical hobby farm land values as at 1 July 2012 were:
<ul>
<li>18 hectares at Kirklands Lane, Nashua valued at $510,000</li>
<li>22 hectares at Myocum Road, Myocum valued at $600,000</li>
<li>21 hectares at Middle Pocket Road, Middle Pocket valued at $540,000</li>
</ul>
These valuations have been compiled during the 2012 valuation program from the analysis of 322 residential, 34 commercial, 12 industrial and 192 rural sales.
Byron Bay picture courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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Byron Bay land values down almost 7% in past three years

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The Western Australian economy continues to outperform the rest of the nation, according to CommSec. 
The state has come out on top on four of the eight criteria – retail trade, equipment investment, construction work done and population growth – and also held onto second place in retail trade and housing finance, according to the latest quareterly “State of the States” report  compiled by CommSec chief economist Craig James.
The report places the Northern Territory in second place overall, close behind Western Australia, and the ACT in third.   
The Northern Territory continues to lead the ranking on economic activity at 48% above its decade-average output, and the ACT is supported by strong dwelling starts and population growth.  Although unemployment in the ACT is low compared with the rest of the nation, it is above the historical average at 3.5%.
There is little separating the three major states: Victoria, Queensland and NSW, according to the authoritative CommSec report, which looks at key economic trends.
NSW is benefiting from historically low unemployment together with rising population growth.  Home building has improved with the help of state government grants.  CommSec believes the factors will result in housing activity lifting in 2013.
Victoria has been supported by its housing sector, which is now slowing. 
All states and territories are showing levels of construction work higher than their decade averages.  
Victoria is in second-last place, with construction work 17% higher than the decade average for the state. In contrast to this, Victoria has the highest number of housing finance commitments, at 1.7% below the decade average and up 4.5% on November last year.
Queensland is restricted by its historically high unemployment but is supported by construction work and equipment investment.  The state is ranked third in retail spending, at 15.1% above decade-averages.
"The Victorian economy is certainly still being helped by relative strength in home building. And the Queensland economy is being propelled by equipment, commercial and engineering investment," says CommSec.
South Australia is sitting well below the rest of the country yet has encouraging signs, as population growth has improved and is at two-year highs at 22% above long-term averages.  CommSec believes this has the potential to lift the state via retail and housing-related activity.
Although equipment investment is above decade averages, the Tasmanian economy is still struggling due to 7% trend unemployment, which is well above the decade average of 6%.
"State of the States" is a quarterly report produced by Commsec, edited by chief economist Craig James, analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements.
 
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Strong economic outlook augers well for WA, NT and NSW housing markets: CommSec

South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention to the beach.

The developer, founded by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success on The Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just three full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach draws on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

Edward Quinn

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