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Lend Lease's Toorak Park development set to launch in Armadale
<a href="https://www.toorakpark.com" target="_blank">A luxury residential apartment development </a>named Toorak Park is coming to Melbourne's Armadale.
The 2.5 hectare site beside Toorak Park will hold 448 apartments and 18 townhouses, designed by Denton Corker Marshall and Carr Design Group. The 16 building project, developed by Lend Lease, will feature landscape architecture by Tract, with open space making up a third of the project.
According to Denton Corker Marshall director John Denton, the practice took its cues from its local surroundings.
"We looked at the Beatty Avenue shops on one side of the lines and saw we could create a place with its own character on the other side," Denton said.
"We wanted to build a village within a village.
"We sought to open up access to the railway station and Beatty Avenue from Orrong Road by creating a central boulevard that is, in effect, a new leafy road in Armadale. The newest area in the neighbourhood will connect with one of the oldest."
The Toorak Park project will include a publicly accessible boulevard with direct access to Toorak railway station.
Lend Lease's national head of Apartments Ben Christie said the site was one of the best qualities of the project.
"Toorak Park is in a fantastic location, where residents can enjoy the local amenities, transport or proximity to the city," said Christie.
"It's also one of the few blue-chip inner-city suburbs in Melbourne where people can live in the heart of a vibrant community but still enjoy a relaxed suburban lifestyle where locals know their name."
One, two and three bedroom apartments are available. One bedroom apartments will range from 55 square metres to 88 square metres, two bedroom apartments are sized from 75 square metres to 107 square metres, and three bedroom apartments range from 115 square metres to 148 square metres.
Toorak Park will have a bluestoned plaza with a convenience store and cafe, as well as communal gardens.
The $500 million project has reportedly faced opposition from the local council and community since the site was purchased in 2009, with a legal battle in the Supreme Court of Victoria, reports the <a href="https://www.afr.com/p/business/property/lend_lease_battle_launch_ritzy_armadale_FbvzOfhAgJ5nz0K1ecJpdJ" target="_blank">Australian Financial Review.</a>
The project is expected to be completed in 2018, with a display suite opening in late March.
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Lend Lease's Toorak Park project coming to Armadale

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Capital city first home buyers are boosting approvals for townhouses, units and semi-detached homes, according to Bankwest.
Bankwest's Housing Density Report showed that while medium density housing approvals as a proportion of total dwelling approvals was down slightly in the past year – 43% in 2014, compared to 44% in 2013 – approvals for the homes are trending upwards and approaching record levels. In the 12 months to November 2014, 85,323 medium density homes were approved.
In New South Wales, the Northern Territory and the Australian Capital Territory, townhouse, unit and semi-detached homes made up the majority of approvals in the year to November 2014. In Western Australia, less than 25% of housing approvals were for medium density homes.
<img src="/images/2015/02/26/Picture%2014.png" alt="">
The category's approvals overtook house approvals in 30.4% of all Australian local government areas in that time.
Unsurprisingly, the growth in medium density housing was concentrated in capital cities. Bankwest executive general manager of Retail, Andrew Whitechurch, said last year almost nine out of 10 approvals for medium density dwellings were in capital cities.
"This is a marked increase from 2011, when the Census revealed capital cities accounted for only 76% of all medium density dwellings," said Whitechurch.
According to Bankwest's report, 88.2% of medium density approvals were for capital city homes. The concentration around capital cities was most pronounced in South Australia, Victoria and Western Australia.
"The number of medium density housing approvals has increased in five out of the eight capital cities in the 12 months to November last year," Whitechurch said.
"Perth experienced the largest increase, with approvals growing by 43.7%.
"Brisbane and Melbourne also saw double digit increases (23.1% and 18.9% respectively), followed by Adelaide (8.9%). Approval figures in Sydney have remained stable with a 0.4% increase."
<img src="/images/2015/02/26/Picture%2013.png" alt="">
Considering medium density housing as a proportion of total approvals, Brisbane is seeing the quickest escalation in housing density of any capital city. There, the proportion of medium density housing approvals increased by 33.7 percentage points between 2011 and 2014. Bankwest attributes Greater Brisbane's share of medium density approvals in part to apartments, townhouses and units in the Gold Coast and Sunshine Coast.
Canberra saw the second highest increase in medium density housing as a proportion of total approvals, with a 27.7 percentage point increase in the three year period. The increase has been in part due to the ACT's Tuggeranong, where housing density is increasing faster than in any other local area (as defined by the Australian Bureau of Statistics). Between 2011 and 2014, the proportion of medium density approvals has jumped 64.2 percentage points, to 79%.
While almost all the capital cities saw an increase in the proportion of medium density approvals, Hobart bucked the trend, with the proportion of medium density housing decreasing by 8.6 percentage points in the same period.
Whitechurch said first home buyers are likely to be driving the demand for medium density housing as they seek out more affordable housing options.
"Bankwest's First Time Buyer Deposit Report, released in December last year, showed that  units are considerably more affordable, taking the average first time buyer couple 3.3 years to save a 20% deposit on a median-priced unit in an Australian capital city compared to 4.1 years to save for a stand-alone home," he said.
He also cited population growth as a key driver for medium density housing supply.
"Increasing competition for housing and higher prices will no doubt lead to further growth in medium density housing approvals in the future," said Whitechurch.
"Despite this ever-emerging trend, the growth in approvals for stand-alone houses outpaced medium density home approvals in the year to November 2014 (14.9% growth compared to 10.2% growth)."
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Capital cities driving medium density approvals: Bankwest

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Darwin's property market hasn't quite found the bottom of the cycle yet, according to SQM Research's Louis Christopher.
In a recent newsletter, he wrote that the market, which is in a "full blown slump" is seeing negativity which has been "getting worse".
Over the summer period, Christopher noted that vacancy rates continued to rise, with rents trending downwards (see below). In November, he described the city's increasing vacancies as <a href="/expert-insights/buying/perth-and-darwins-vacancy-increases-alarming-sqm-research">"alarming"</a>.
<img src="/images/2015/02/26/Picture%202.png" alt="">
<img src="/images/2015/02/26/Picture%207.png" alt="">
<img src="/images/2015/02/26/Picture%2011.png" alt="">
In the past, Christopher has described Darwin as a "shallow" housing market, with relatively small market volumes allowing for increased price fluctuation.
"Right now its swinging south, primarily due to the commodities downturn", wrote Christopher in January, with no indication that the market's descent would stop soon. Mineral mining is a major economic driver for Northern Territory capital.
Stock on the market in Darwin has been trending upwards since late 2012.
<img src="/images/2015/02/26/Picture%2011.png" alt="">
In January, SQM Research recorded a <a href="/expert-insights/buying/property-listings-increase-over-january-sqm-research">34.2% increase in Darwin listings</a> from the previous year.
<img src="/images/2015/02/09/sqm-feb-9-one.jpg" alt="">
Source: SQM Research
The research firm has also recorded a decrease in asking prices over the past 12 months. Houses saw a 0.5% drop in asking prices, while the downturn was more pronounced in the unit market: unit asking prices were down 5.9% over the year. <a href="https://%20http:/www.realestate.com.au/property-unit-nt-brinkin-414327211" target="_blank"></a>
<a href="https://%20http:/www.realestate.com.au/property-unit-nt-brinkin-414327211" target="_blank">A Brinkin apartment</a> has failed to attract the attention of renters, despite numerous discounts. The air-conditioned, tiled unit pictured below was advertised to rent at $520 per week in April last year.
<img src="/images/2015/02/26/brinkin.jpg" alt="">
In November, the asking rent was lowered to $480 per week. Earlier this year, the landlords were asking for $460 per week - a 11.5% drop in less than a year.
If the landlords, who paid $143,000 for the unit in 2005, manage to secure a tenant at the current asking rent, it will have a rental yield of 16.5%. Similarly, the owners of <a href="https://www.realestate.com.au/property-house-nt-leanyer-414920111" target="_blank">36 Hotham Court in Leanyer</a> have decreased the asking rent for the three bedroom, two bathroom house. In the last month, the asking rent has dropped from $600 per week to $550 per week. The investor owners purchased the home for $532,000 in 2008.
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Darwin's full blown slump is getting worse: Louis Christopher

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Last year, the Gladstone property market was frequently wheeled out as yet another commodity-linked decline story.
After peaking in 2011 the port town's property market saw climbing vacancy rates and rental falls, leading to some claiming that Gladstone was <a href="/news/is-the-gladstone-market-positioned-to-crash">"positioned to crash"</a>.
In June 2014, Terry Ryder wrote that <a href="/news/qld/the-worst-is-yet-to-come-for-gladstone">"the worst is yet to come for Gladstone"</a>, with three big gas projects to wind up eventually. He cautioned readers then not to buy into media hype around the town, with some claiming that the market had stabilised.
Indeed, the Real Estate Institute of Queensland (REIQ) still termed Gladstone's vacancy rate of 4.2% "weak" in its September 2014 quarter report, although it noted that residential vacancy rates are trending downwards.
REIQ chief executive Antonia Mercorella said the latest Residential Rental Survey showed that "median rents in Gladstone and Mackay continue to ease". The survey recorded a 4.1% decline in Gladstone's median house price for the September quarter, to $374,000.
The market's downturn was attributed in part to an oversupply of housing, thanks to developers chasing incoming QGC workers who were then shifted to accommodation on Curtis Island. But the property market's results were not quarantined to the housing market, with some noting a reflection in the performance of commercial properties.
Last month, REIQ Gladstone chairman Mark Spearing wrote in <a href="https://www.gladstoneobserver.com.au/news/residents-cautious-as-tough-business-conditions/2541550/" target="_blank">The Gladstone Observer</a> that "the feel locally is that business in general is very tough and the cost of business is affecting employment", noting a downturn in confidence.
"Our latest commercial property figures confirm this as there are several vacant commercial spaces around town," wrote Spearing.
"Have we conceivably transitioned from an overpriced market to an undervalued one in super-fast time? Time will tell."
While many agree that the property market was over-valued a few years ago, some, like Commercial Property Specialist Dale Ware of Ray White Gladstone, say the "doom and gloom" headlines are unwarranted.
"There's a lot of doom and gloom about the construction phase of the gas projects coming to an end," Ware tells Property Observer.
"Yes, one of the plants is winding down, but two are nowhere near finished, and probably have another 12 months to go."
He notes that some level of market fluctuation is typical for Gladstone, and that in his 35 years of business in the town, he's seen the market go quiet, only to "go crazy again" a few weeks later.
"That's what Gladstone's about."
Ware believes that Gladstone's reputation is in part due to some associating the town with the mining industry.
"We're not a mining town at all. We're a port more than anything," says Ware.
"We export aluminium, grain, coal, power and gas. Even though we're linked to the mining industry, we're not a mining town."
Ware comments that coal mining towns further west like Emerald and Blackwater are experiencing a worse downturn than Gladstone.
"We're alright. It's just that two years ago, we had an enormous boom.
"We've come off that high, and everyone thinks they've had their throats cut." He notes that Gladstone's market was only at its recent peak "for 18 months or so".
He also notes that while rents are "coming down a little bit", he doesn't believe there's been any large increase in the number of vacant commercial properties.
"I've done probably six leases in the last six weeks, which is probably three times what we were doing last year", says Ware. He predicts that when, in September, the Curtis Island workers camps are dismantled, work will be created. That will impact the commercial property space, says Ware, with an increased need for storage space.
This retail and office space at <a href="https://www.realcommercial.com.au/property-retail-qld-gladstone+central-501473747" target="_blank">91 Goondoon Street</a> in Gladstone Central is currently listed to rent at $32,800 per annum, or just over $135 per square metre, per year.
<img src="/images/2015/03/04/gladstoen-mar-4-one.jpg" alt="">
An industrial and warehouse space in Gladstone Central, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-gladstone+central-500371535" target="_blank">at 1/4 Roseanna Street</a>, is available for $1,600 (plus GST) per month, equating to $218 per square metre, per year.
<img src="/images/2015/03/04/gladstoen-mar-4-two.jpg" alt="">
In his investor warning last year, Ryder wrote that despite its price volatility, Gladstone has a "huge future" as "Australia's leading industrial city".
Ware believes the mix of industries in Gladstone means the market won't stay down.
"We've got powerstations, aluminimum plants, a smelter, the gas, [ammonium nitrate producer] Orica, the coal, the port, the grain – they can't all be quiet at once.
"To succeed in business you've got to be diverse. And Gladstone's diverse", says Ware.
Picture courtesy of Wikimedia Commons.
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Tough times for Gladstone commercial property as town adjusts to end of mining boom

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International experts, from developers to urban planners, architects to politicians, will be in Melbourne next month to speak about building sustainable environments.
<a href="https://www.greencities.org.au/" target="_blank">Green Cities 2015</a>, co-hosted by the Green Building Council of Australia (GBCA) and the Property Council of Australia (PCA), will be taking place on 17-19 March. Experts will be speaking about how to build cities that people fall in love with, design inspired by nature and the economic benefits of good design. Attendants will have the opportunity to learn from international examples of urban planning, technological innovation and development to learn about how to contribute to sustainable environments in Australia.
Headlining the event will be urban planner Larry Beasley CM. Widely considered one of the world's best urban planners, Beasley has been responsible for much of the shape of Vancouver's inner city, heading up suburb revitalisation projects and heritage conservation projects in what has since been called the "Vancouver model of new urbanism". He's advised planners in Dallas, Rotterdam, and Abu Dhabi. At Green Cities 2015, he will be speaking on "Rekindling the urban love affair", explaining how to create cities that are not just economically and environmentally viable, but also comforting and engaging.
Panelists will also discuss ethical investment strategies, and how insurers manage climate change related risk. Green Cities, as much a networking opportunity as a series of presentations, will host a women's leadership breakfast among other events.
As part of this year's event, Green Cities launched a sustainable innovation competition, called Weapons of Mass Creation 2015. The competition saw submissions from companies and organisations such as Stockland, Mirvac and the University of Sydney. The 23 organisations pitched technology innovations, planning strategies and novel designs to the judging panel, which will be presented to the audience on Wednesday 18 March. The winning innovations will receive national publicity in the GBCA's Green Building Voice and the Property Council's Property Week.
On the third day, attendees will get up close to sustainable buildings, with a tour of Melbourne's Green Star sites.
The event itself will be as "green" as possible, with energy use and waste offset.
Urban planners, architects and landscape architects including representatives from Indigenous Architecture and Design Victoria, HASSEL, ASPECT studios, Fit Landscape, Cox Architecture, Conrad Gargett and Exploration Architecture will all be present at the event. Melbourne Lord Mayor Robert Doyle will launch Green Cities 2015 on 17 March.
Since its launch in 2007, 9,000 people have attended Green Cities.
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Larry Beasley to headline Green Cities event coming to Melbourne in March

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The Reserve Bank of Australia has kept the official cash rate on hold this month.
The official cash rate remains at its record low of 2.25%, after a 25 basis point cut last month.
The majority of experts <a href="/expert-insights/finance/experts-split-on-reserve-banks-march-rate-move-finder">surveyed by comparison website Finder</a>, including NAB's Alan Oster, anticipated that the Reserve Bank would announce that rates would not change this month.
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Reserve Bank holds rates for March

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The National Australia Bank and Commonwealth Bank are both offering their five year fixed rate loan product at 4.59% ahead of today's Reserve Bank announcement.
Their five year fixed loans rates are 10 basis points lower than that offered at Westpac, which has a 4.69% rate on its comparable product.
ANZ's interest rate is higher still, at 4.74%.
However, the lowest interest rates on five year fixed products are still offered by minor lenders. UBank's five year fixed rate is at 4.37%, and Newcastle Permanent is offering a 4.39% rate on its five year fixed loan.
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NAB and Commonwealth neck and neck for five year fixed rate loans

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Australia's falling dollar and the promise of a recovering market is drawing New Zealanders back to the Gold Coast, according to one agent.
Russell Barker, a licensee of First National Southport, tells Property Observer that the agency is seeing "very strong enquiries" through its New Zealand offices.
He believes the renewed enthusiasm is in part due to a general increase in foreign interest in the area on the back of the upcoming Commonwealth Games.
"It started about nine months ago," says Barker. After a flat market, stretching back to 2008, and negativity from Queensland's floods, he says new infrastructure built to support the 2018 games is attracting media coverage and buyer interest.
He notes an uptick in development in the area, which can accommodate foreign buyers who are only allowed to purchase new properties. But while much has been made of Chinese investment in the Gold Coast, he says the Chinese market only contributes to about 5% of sales.
Barker believes that New Zealanders aren't simply drawn to the Gold Coast because of the associated lifestyle, but because of investment opportunities.
"Apart from Auckland and Queenstown, there aren't really many places with strong capital growth in New Zealand," he explains.
With the earthquake's impact on the Christchurch market and few solid investment opportunities in Wellington, Barker says investors turn to the Australian market – and the falling Australian dollar, now worth NZ$1.03, is only increasing the appeal.
"When the market crashed, a lot of Australians were buying in America," he notes.
"And now with the dollar changing, we're seeing the reverse," with New Zealand and European buyers considering our market."
Barker says New Zealanders' interest in Australia will "only get stronger and stronger".
"They're really the extra state of Australia," he says. "We openly accept New Zealand, the same as they accept us."
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New Zealanders return to Gold Coast as dollar nears parity, says agent

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More than half of the 37 experts surveyed by comparison website <a href="https://finder.com.au">Finder</a> predict that the Reserve Bank will keep the official cash rate on hold at today's meeting.
The 21 respondents who believe the cash rate will stay at its record low of 2.25% include National Australia Bank's chief economist Alan Oster, who said the effects of last month's 25 basis point cut will "take some time" to become apparent.
Although Oster believes that the interest rate will stay on hold, economists from the other big four banks don't agree. Warren Hogan from ANZ, Michael Blythe of Commonwealth Bank and Bill Evans of Westpac all predict that the cash rate will be cut this month.
In general, the experts surveyed predict a low interest rate environment will continue until June 2016.
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Experts split on Reserve Bank's March rate move: Finder 

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A north-facing home in Sydney's Bellevue Hill was the most expensive sold last week, according to CoreLogic RP Data.
The four bedroom house was sold through Raine &amp; Horne Double Bay for $5.5 million.
Set on a 720 square metre parcel, the three storey contemporary home has views of the city. Various living areas open through bi-fold doors to outdoor entertaining zones, which include a courtyard, gardens, multiple terraces and a gas heated pool.
The home includes an open plan library at the top of the stairs.
The vendors purchased <a href="https://www.domain.com.au/property/for-sale/house/nsw/bellevue-hill/?adid=2011531949" target="_blank">14 Arthur Street in Bellevue Hill(</a>pictured above) for $4.8 million in 2010. In five years, its sale price increased by $700,000.
The home was one of nine from Sydney that appeared in this week's top 10 list. Just one Melbourne home got a look in – a five bedroom house on Kew's Cotham Road was the 10th most expensive Australian home to sell this week at $3.61 million.
CoreLogic RP Data's top 10 sales of the week ending 1 March:
<ul>
<li>
14 Arthur Street, Bellevue Hill, NSW
</li>
</ul>
4 bed, 3 bath, 2 car house 
$5,500,000 
Raine &amp; Horne 
Double Bay
<ul>
<li>
2A Mount Street, Hunters Hill, NSW
</li>
</ul>
5 bed, 4 bath, 3 car house 
$5,060,000 
First National 
Hunters Hill
<ul>
<li>
190 Barrenjoey Road, Newport, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$5,000,000 
L J Hooker 
Mona Vale 
<ul>
<li>
60 Portland Street, Dover Heights, NSW
</li>
</ul>
4 bed, 6 bath, 5 car house 
$4,800,000 
Position Realty
<ul>
<li>
54 Cammaray Road, Castle Cove, NSW
</li>
</ul>
5 bed, 6 bath, 3 car house 
$4,620,000 
Belle Property 
Glebe 
<ul>
<li>
34 Yanko Avenue, Bronte, NSW
</li>
</ul>
4 bed, 3 bath, 3 car house 
$4,082,000 
Richardson &amp; Wrench 
Bondi Beach 
<ul>
<li>
31 Le Vesinet Drive, Hunters Hill, NSW
</li>
</ul>
3 bed, 2 bath, 3 car house 
$3,850,000 
BresicWhitney Estate 
Agents Hunters Hill 
<ul>
<li>
139 Military Road, Dover Heights, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$3,825,000 
Laing + Simmons 
Double Bay
<ul>
<li>
10 Carrington Parade, Freshwater, NSW
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,750,000 
Clarke &amp; Humel Property 
Manly
<ul>
<li>
266 Cotham Road, Kew, Vic
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,610,000 
Marshall White 
Hawthorn
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$5.5 million house on Bellevue Hill tops week's sales: CoreLogic RP Data

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

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<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

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Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

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More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

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Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

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Jessie Richardson

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