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The Crown Group’s Paramatta apartment complex has sold 277 apartments since its launch in mid-2012. Upon completion in 2016, the $309 million residential development will contain 519 luxury apartments.
A variety of one, two and three bedroom apartments are available, with executive studios and penthouses. Residences in the V by Crown complex will feature ceiling-to-floor windows, stone bench tops and waterproof balconies.
The 29-storey building will also hold a pool, a gymnasium, conference facilities, a music room, a theatrette and a library, in addition to gardens and a gaming room.
<img src="/images/stories/2014/01/23/v-by-crown-jan-23-breakout.jpg" alt="v-by-crown-jan-23-breakout" height="264" width="470">
V by Crown’s <a target="_blank" href="/news">Paramatta</a> location caters to the increasing demand for high quality residences close to Sydney’s employment hubs, said Crown sales manager Anthony Falas. According to the Crown Group, more than 90,000 workers travel to Parramatta each day, and the district has a thriving nightlife.
“Only last year Parramatta was named the country’s fastest growing night-time economy,” Falas said. “It’s a recipe for momentum.”
Prices for apartments in the V by Crown development start from $418,000.
jrichardson@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">Investor Showcase</a>.
Images are artist impressions.
 
 
 
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jrichardson-uRX5hFdKfN

V by Crown development reaches $150 million in sales

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A seminar featuring residential properties in Phuket will take place in Sydney this week. The Phuket Property Show at the Four Points Sheraton hotel will showcase real estate and investment opportunities in the Thai resort island.
The seminar will be hosted by Siam Real Estate, assisted by the Ray White Group. According to Siam Real Estate CEO Richard Lusted, a variety of residential properties would be highlighted, including townhouses and villas in gated communities.
“Some of the attractions of buying property in Phuket include investment returns of between 15-25%, historically low interest rates, stable market prices and no property taxes. There’s no capital gains tax after five years for private investors and low taxes,” said Lusted.
He noted the current trend of urbanisation in Phuket and the ongoing construction of new hotels, apartments and houses on the island.
Property will be available to purchase at the Sydney seminar, with special accommodation deals available for buyers.
The Phuket Property Show will be held from 10am-7.30pm in Sydney on January 24 and January 25.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Thai properties showcased in Sydney

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An April opening has been announced for the new Marian Town Centre in Queensland.
Developers Tipalea Partners have announced that the retail and services centre is soon to be completed and will open for business on April 5 this year. Tenants, which will include the only full-range Woolworths supermarket west of Mackay, will have access to their tenancies from early February, about eight weeks prior to the centre’s launch.
<img width="470" height="253" src="/images/stories/2014/01/23/marian-jan-23-two.jpg" alt="marian-jan-23-two">
Photo: Supplied
The Marian Town Centre will also include a dentist, a medical centre, a gym and various food retailers. According to Tipalea Partner’s managing director Scott Spanton, the developers have worked to deliver a diverse mix of tenants. Five vacant tenancies are left, with Tipalea still seeking a hair salon, a bakery, a real estate agency and more food retailers.
“The construction of the centre has gone well and it has provided a major economic boost for the Mackay region with the creation of approximately 210 direct jobs during the build phase,” Spanton said.
“Once the centre is up and running we estimate that it will generate approximately 250 permanent positions.”
The development will also include 280 car parks on the 7.5 hectare site. Spanton estimates that the centre will cater to about 8,900 people, a figure that he expects to increase to 12,000 by 2026.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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Marian Town Centre set to open in April

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Given the Northern Territory’s spectacular landscape, it’s not surprising that NT’s most beautiful rental properties are ones that take full advantage of the territory’s lush tropical gardens, clear waters and warm weather.
After taking a look at the best rentals in <a href="https://www.propertyobserver.com.au/news/jan-10-flicker-2-galleries-needed-the-5-most-beautiful-vacant-rentals-in-victoria/2014010967132" target="_blank">Victoria</a> and <a href="https://www.propertyobserver.com.au/new-south-wales/the-5-most-beautiful-vacant-rentals-in-new-south-wales/2014011467194" target="_blank">New South Wales</a>, Property Observer rounds up the most beautiful vacant rental properties in the Northern Territory.
1. <a target="_blank" href="https://www.cvueproperty.com.au/portfolio-view/78-east-point-rd-fannie-bay/">78 East Point Rd, Fannie Bay</a>
{yoogallery src=[images/stories/2014/01/23/fan1]} 
This five-bedroom home is right on the shore of Darwin’s Fannie Bay. With bright interiors and high ceilings, the house also features four bathrooms, a gym room complete with equipment and a cyclone proof room that the agents suggest can double as a wine cellar.
The house’s master en suite has double showers and double basins. Any renter staying in the master bedroom will also have a private door leading straight to the semi-indoor lap pool, which can also be viewed from floor-to-ceiling windows that flood the home with sunlight.  Upstairs, there’s a large kitchen, a library and three spacious living or dining areas with views over Fannie Bay. The home also comes with private balconies.
The residence is available at $2,500 a week.
2.<a href="https://darwin.ljhooker.com.au/47XF2X" target="_blank"> 36/4 Myilly Terrace, Cullen Bay</a>
{yoogallery src=[images/stories/2014/01/23/cull]}
This penthouse’s panoramic views and wrap-around balcony make the most of the Cullen Bay Marina. From the four-bedroom apartment’s vantage point on Myilly Terrace, two kilometres out from Darwin’s CBD, a renter can look out over the marina, as well as Mindal beach and the Sky City Casino lawns.
Two of the bedrooms include en suites and walk in robes. The apartment also includes access to the building’s storeroom, barbecue area, pool and spa.
Purchased for $725,000 in 2002, the penthouse is available for $1,650 a week.
3. <a href="https://www.realestate.com.au/property-house-nt-fannie+bay-409690919" target="_blank">5 Knight St, Fannie Bay</a>
{yoogallery src=[images/stories/2014/01/23/fan2]}
Next on our list is a double storey, self-contained home in Darwin’s Fannie Bay. The split-level property features a large pool, a cinema room, a large office, and three separate bathrooms.
Our favourite feature is the large outdoor decking area, located on the house’s upper level. The height of the verandah ensures that tenants can entertain among the treetops, displaying the successful integration of household spaces with the environment that has become a signature of Northern Territory homes.
This tropical home, which also comes with a pet barramundi in the backyard pond, is available for short term holiday stays.
Article continues on next page. Please click below.
 
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4. <a href="https://www.realestate.com.au/property-unit-nt-darwin-408427683" target="_blank">2/78 The Esplanade, Darwin</a>
{yoogallery src=[images/stories/2014/01/23/dar]}
The relatively recent economic development of Darwin has delivered a lot of great new rental properties – making this beautiful colonial cottage somewhat of an anomaly. Decking wraps around both levels of the double storey residence, with French doors opening the house up to the substantial veranda and balcony space. This home is surrounded by manicured lawns, with access to a communal pool.
Inside, the cottage is bright and airy, with three bedrooms, polished timber flooring, and air conditioning throughout. It’s available to tenants at $1300 a week.
5. <a href="https://www.recentral.com.au/suburbs/marrara/family-home-immaculate-indoor-and-outdoor-living" target="_blank">3 Lakes Crescent, Marrara</a>
 
{yoogallery src=[images/stories/2014/01/23/mar]}
When you’re situated in the tropics, a property’s outdoor areas are just as important as its interior. This Marrara rental landed on our list after we took a look at its gardens. With two Balinese huts (one equipped with a day bed and ceiling fan), a small stream with two foot bridges and a waterfall that spills into a large in-ground pool, this residence’s resort-style gardens are an ideal retreat for any tenant.
The property also features a private veranda for the master bedroom and a large tiled outdoor dining space. Inside, there are four bedrooms, each with air conditioning, and an open-plan living and kitchen area. It’s available to rent at $1,050 a week.
{module Which of these is your favourite vacant NT rental?}
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
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The five most beautiful vacant rentals in the Northern Territory

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As many property investors can attest to, a trip to the Civil and Administrative Tribunal can be a daunting and expensive experience.
In a building dispute seen before QCAT earlier this month, applicant Abheshek Sodhani sought a total of $19,352 (with interest) plus an undecided amount at the discretion of the tribunal, from Queensland residential property developer Path Developments, who oversaw the construction of his new three bedroom duplex. The tribunal dismissed his claims, resulting in a loss of time and resources for Sodhani.
Property Observer takes a look at QCAT’s decision to deliver some tips that could save you from a trip to the tribunal.
Clarify any contentious terms before signing any contracts
While it may seem obvious, subjective or unclear contracts appear to be one of the greatest causes of disputes between investors and contractors.
One of Sodhani’s complaints at QCAT was that Path Developments had not provided the strata title in the course of completing his property. Sodhani claimed that he had to make additional payments to Path Developments above the cost of the price stated in their contract ($318,000) to obtain a strata title.
According to Sodhani, his contract with Path Developments stated that the strata title should be paid for by the builders, and no costs relating to the strata title should be paid by the client.
However, a closer look at a special condition in the contract shows that it in fact states: “payment for strata title by builder. Documentation by client.”
 
Path Developments argued that the costs paid by Sodhani were in obtaining documents for the strata title, and that they had in fact paid a total of $8,880 getting the strata title itself. The tribunal agreed.
The tribunal’s decision shows that it pays to double check any unclear items on contracts. Even QCAT agreed that the terms were ambiguous, stating that “unfortunately the special condition is not explained any further in the contract.”
Sodhani also claimed that he missed out on four months of rental payments, and had to bear additional interest costs because the property was completed four months late. But the tribunal ruled that there was no particular date specified in the contract for the completion of the property, and that the date that the contract is signed is not an indication of the commencement of construction.
It’s worth taking the extra time to enquire about any subjective items.
Seek advice when you need it
As evidence to his claim, Sodhani provided a letter carrying the name (but not the signature) of Peter Luckmann, Path Development’s director. The tribunal decided that the letter was not part of the existing contract, and had no bearings on his decision.
If you think you have an agreement in writing, it’s worth having the document checked against any existing contracts, and written up formally – which is something that will most likely require the help of a lawyer.
A lawyer can also spend an hour combing your contract for anything that might need clarification. Investing is tricky enough as it is – while lawyers are expensive, if you’re unsure of any terms, it’s worth hiring someone to advise you.
Keep all your receipts
QCAT noted that while Path Developments provided invoices for all the payments they made obtaining the strata title, Sodhani did not present any proof of payment for any of the additional documentation. Even if QCAT did agree that Sodhani shouldn’t have borne the extra costs, it would have been impossible to assess just how much he was owed.
Do your research
Sodhani also claimed that his property wasn’t built as per the specifications outlined in his contract with Path Developments. According to Sodhani, there was a 7.9 square metre difference between the size of his property as submitted by a certification group to the council, and the final survey plan. As such, he claimed that he was owed a reimbursement for loss of land to the tune of $1,016 per square metre of difference.
But Path Developments argued that survey plans for strata titles are measured differently than building plans, accounting for the apparent difference in size. In fact, Path Developments stated that after building Sodhani’s property as per its approved working drawings, he actually ended up with an extra 2.1 square metres above what was specified in his contract. The tribunal agreed.
If you feel as though you haven’t received what you agreed to in your contract, it’s worth looking a little deeper – call a surveyor or take a look at the publicly available information from your local Department of Planning.
Do you have any other tips for avoiding a trip to the tribunal?            
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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Four investor tips to keep you out of tribunal

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The Maranoa Heights Community Centre was re-opened on Friday by Tasmanian Premier Lara Giddings. The centre is in the suburb of <a href="/news">Kingston</a>, on the outskirts of Hobart.
The refurbished centre is part of the state Labor government’s $6 million Tasmanian Jobs Package, aimed at creating 110 new jobs in Tasmania’s construction industries. By February, the Premier expects $1 million worth of work to be completed across Tasmania’s 13 community houses.
At the launch, Giddings noted that “this is not just an investment in bricks and mortar, this is an investment in our communities.
“It is about improving the facilities and sustainability of our community houses, as well as providing stimulus to local businesses,” Giddings said.
The refurbishment focussed on providing improved disability access to the community centre, including better wheelchair access. Other additions to the building included a dedicated computer room, an expanded program and activities room, a tea room and new offices for professional services.
The Maranoa Heights Community centre’s president, Eddie Rogers, is a state finalist in the 2014 Senior Australian of the Year awards. The community centre’s management committee was also awarded Volunteering Tasmania’s Volunteer Management award in 2013.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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Renewed community centre launched in Kingston, Tasmania

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Home builders Hotondo Homes have introduced a new range of residences aimed at catering for Australian families.
The new Forever Sanctuary range features homes suitable for a variety of land sizes, from acreage blocks through to narrow lots. Hotondo Homes conducted extensive market research while designing the range, including research into consumer demographics and consulting with focus groups.
They found that the kitchen, master bedroom and outdoor entertaining areas were key spaces for Australian families.
{yoogallery src=[images/stories/2014/01/22/ersk]}
Photos: Forever Sanctuary Erskine range
According to Hotondo Homes' managing director Michael Renwick, research and communication with residents is a key component when designing for modern lifestyles.
“Our builders don’t just build houses – they’re passionate about building homes that their clients want to live in,” said Renwick. 
“They want to build homes that their clients can have a special connection with and a place they can look forward coming home to.”
Prices for homes in the Sanctuary Forever range vary from region to region. For a Sanctuary Forever home in the Melbourne metropolitan area, prices start at $154,400. In Sydney, prices range from $144,800 in Penrith to $158,800 in Lithgow.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">Investor Showcase</a>.
Images are artist impressions.
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Forever Sanctuary range launched by Hotondo Homes

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Situated at the eastern “Paris” end of Collins Street, the Sheraton Melbourne Hotel will open its doors in late March.
The 31 storey hotel will have 174 rooms, featuring wireless internet, interactive LED Smart televisions and modern marble bathrooms. The building will also include the Little Collins St Kitchen, a bistro-style restaurant, and the Terrace Bar, a roof-top venue overlooking Little Collins Street.
Other features include a spa with five treatment rooms, a heated lap pool and a gymnasium which will offer Sheraton’s own branded fitness program. Reservations are now open, with the Sheraton Melbourne Hotel currently offering a special opening rate starting from $260 per night for guest rooms and from $750 per night for suites.<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au"> </a>
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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March opening for Sheraton Melbourne Hotel

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According to the latest report released by financial comparison website finder.com.au, the proportion that first home buyer loans make up of total loans is at an all-time low.
Drawing on data from the ABS, the report notes that first home buyer loans now make up just 12.5% of all loans financed in November 2013, down 3% from the same month in 2012.
Finder’s report attributes the drop of 1,054 first home buyer loans in the 12 month period to the volume of capital now required to purchase a first home.
According to Michelle Hutchison, a money expert at finder.com.au, the upfront costs associated with financing a home are putting off first home buyers.
“For a 5% deposit and purchasing an established home at the median dwelling price, the upfront cost is up to double the size of the deposit, according to <a href="https://www.finder.com.au/">finder.com.au</a> research,” said Mrs Hutchison.
The website calculated that when purchasing home at the national median dwelling price of $484,563, where stamp duty concessions are exempt, a first home buyer could expect that with a 5% deposit of $24,228, they would also be required to pay $22,000-$50,000 for stamp duty and lenders mortgage insurance, plus about $1,000 in home loan fees.
Data from the ABS shows that the average loan size to a first home buyer in November 2013 was $298,000, $10,000 greater than it was in November 2012.
Tracking long term trends, ABS figures also show that the household incomes of first home buyers has trended upwards over the last two decades; in 1995, the average weekly household income of a first home buyer was $1,307, while in 2010 it was $2,006 (both in 2009-10 dollars).
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Proportion of first home buyer loans down: Finders

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Music industry magazine Pollstar has just named Perth Arena at number 22 on its Top 200 Arena Venues for ticket sales in 2013.
<img src="/images/stories/2014/01/20/perth-arena-jan-20-ohne.jpg" width="470" height="214" alt="perth-arena-jan-20-ohne">
The result puts Perth Arena (pictured above) ahead of New York’s Madison Square Gardens and London’s Wembley Arena, and got Property Observer thinking – what are the world’s most iconic music venues?
The National Centre for Performing Arts, Beijing, China
<a href="https://www.chncpa.org/ens/"><img src="/images/stories/2014/01/20/beijing_jan_20.jpg" width="470" height="212" alt="beijing_jan_20"></a>
The <a href="https://www.chncpa.org/ens/" target="_blank">National Centre for Performing Arts</a> hosts Beijing and foreign operas, dramatic performances and recitals. The spectacular glass and titanium structure is surrounded by an artificial lake.
Colloquially dubbed “the Egg”, this huge opera house sits 5,452 people across its three halls. The Paul Andreu-designed venue has attracted a good deal of controversy due to its immense cost – construction set back the Chinese government by 3.2 billion CNY (approximately $600 million AUD).
Sydney Opera House, Sydney, Australia
<img src="/images/stories/2014/01/20/sydney-opera-house.jpg" width="470" height="193" alt="sydney-opera-house"> 
 
Our most iconic building is known throughout the world for its distinctive look. Danish architect Jørn Utzon beat 232 other entrants in a competition to design the Opera House in 1955. The construction and design process was plagued with problems and delays, and the venue was officially opened in 1973.
The Sydney Opera House comprises several performance spaces, including the Joan Sutherland Theatre.
The Cavern Club, Liverpool, UK
<a href="https://www.cavernclub.org/"><img src="/images/stories/2014/01/20/Cavern-club.jpg" width="470" height="353" alt="Cavern-club"></a>
 
Sometimes it’s not size that makes an iconic venue. <a href="https://www.cavernclub.org/" target="_blank">The Cavern Club</a>, true to its name, is a tiny space which lays claim to being the site where The Beatles first made their mark on the UK. Then known as The Quarrymen, the band were admonished by the management during their first performance for playing rock n’ roll, which was at that time banned at the venue. Nevertheless, the Beatles continued to perform there and made the club famous throughout Europe.
Since then, Elton John, the Rolling Stones, and The Who all have performed at the Cavern Club.
Red Rocks Ampitheatre, Denver, USA
 
<a href="https://www.redrocksonline.com/"><img src="/images/stories/2014/01/20/800px-RedRocksAMP.png" width="470" height="312" alt="800px-RedRocksAMP"></a>
 
The Beatles, Jimi Hendrix and Bruce Springsteen have all played there – and with beautiful views for the 9,450-strong audiences, it’s not hard to see why. Located in the Red Rocks mountain park, west of Denver, the naturally formed amphitheatre is a favourite of musicians for its natural setting and spectacular acoustics.
Last year, <a href="https://www.redrocksonline.com/" target="_blank">Red Rocks</a> was named America’s best amphitheatre by Rolling Stone magazine.
Carnegie Hall, New York, USA
<a href="https://www.carnegiehall.org/"><img src="/images/stories/2014/01/20/Carnegie-hall-isaac-stern.jpg" width="470" height="353" alt="Carnegie-hall-isaac-stern"></a>
Arguably one of the most famous concert halls in the world, Manhattan’s <a href="https://www.carnegiehall.org/" target="_blank">Carnegie Hall</a> has a prestigious pedigree. Since it opened in 1891, the venue has hosted the premier performances of works by composers such as George Gershwin, Igor Stravinsky and Sergei Rachmaninoff. Carnegie Hall hasn’t only entertained fans of classical music – Duke Ellington, Woody Guthrie and Jay Z have also performance in the venue.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
 
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A sound design: The world’s most iconic music venues

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Jessie Richardson

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