Sydney-based Oracle Estates has submitted plans for a two-tower apartment project in Brisbane's Spring Hill.

The development at&nbsp;25 Fortescue Street will bring 252 apartments to the burgeoning&nbsp;<a href="/developments/spring-hill-qld-4000">Spring Hill</a>&nbsp;market. The development, at 25 Fortescue Street, will accommodate&nbsp;social and affordable housing.

Tower 1, dedicated to social housing, will rise 14 levels and include 115 apartments, with a mix of 74 one-bedroom, 39 two-bedroom, and two three-bedroom units.&nbsp;

Tower 2, focused on affordable housing, will reach 15 levels and contain 137 apartments, consisting of 24 studios, 73 one-bedroom, 38 two-bedroom, and two three-bedroom units.

The development will also feature 115 parking spaces distributed across two basement levels.

<img alt="25 Fortescue Street" data-entity-type="file" data-entity-uuid="4c018f73-64ca-4fbf-b79d-904f3fe8304f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/25%20Fortescue%20Street.png?VersionId=d2FBCIpfXDPKSE_YDdGBdeari6FzKh0Y" />

Designed by <a href="/architects/rothelowman">Rothelowman</a>, the architectural style of the development is described as a bold subtropical expression, characterised by order, rigour, and simplicity.

"The design seeks humility in its respect for the daily life of future residents. A clear focus on the way in which people will live within this place allows for an outcome that prioritises liveability, functionality, longevity and care; design enabling a simple way of life."

Symmetry and repetition in the building's plan and elevations contribute to a timeless aesthetic, while textured vertical panels and reflective glazing add to the building's visual appeal.

<img alt="25 Fortescue Street laneway" data-entity-type="file" data-entity-uuid="e16bf882-c2ff-41ba-9251-96ea1ae720da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/25%20Fortescue%20Street%20Laneway.png?VersionId=iYAaERQnuOiGXvhCIm5vXMN3zuNpuC_M" />

The development also includes a newly created laneway connecting Little Edward Street and Fortescue Street, serving as both a connective and communal space.

"The masterplan for the site seeks to create a sense of communal engagement. The newly created laneway acts as both a connective space but also a collective one."

This laneway will function as a lobby, play area, garden, work zone, and gathering space, fostering communal engagement and a sense of collective ownership among residents.

Commercial spaces along Little Edward Street,&nbsp;, likely cafes and restaurants, will enhance the street frontage.

Joel Robinson

Twin apartment towers pitched for Spring Hill

Since its completion two years ago, The Grand Residences in Eastlakes still stands as the newest apartment development in the gateway suburb to Sydney's East.

With the final apartments recently being released to the market, we went down to <a href="/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand Residences</a> to talk to its residents and find out what it's like to live in the development.

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There's been a mix of owner-occupiers over the years.

Peter, an interior designer, has been at The Grand Eastlakes since it was completed two years ago, while Prateek had been a tenant in the building before recently purchasing a unit as a rentvestor.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/lIoP_MoLzy8?si=BRxJS9rPleS0f0be" title="YouTube video player" width="560"></iframe>

Both owners talked to the quality of what developer Crown Group has created at The Grand Residences, as well as the extensive facilities in the building and the prime location, offering access to Sydney's best beaches and the thriving cafe and dining hubs of Rosebery and Newtown.

Another resident praised the convenience and accessibility of The Grand Residences, noting its proximity to essential amenities such as cafes, supermarkets, and public transport.&nbsp;

Read more:&nbsp;<a href="/news/nsw/the-prime-eastern-suburbs-location-of-the-grand-residences-eastlakes">The prime Eastern Suburbs location of The Grand Residences, Eastlakes</a>

[smartcode_project:default project_id=7652 project_image_fid=262599]

McGrath Projects, and Crown Property Agency, are marketing the final apartments available in The Grand Residences. They've been popular so far with first home buyers, owner-occupiers, and downsizers.

Read more:&nbsp;<a href="/news/nsw/how-the-grand-residences-eastlakes-apartments-stack-up-for-investors">How The Grand Residences, Eastlakes apartments, stack up for investors</a>

[smartcode_project_cta:default project_id=7652]

McGrath Projects, and Crown Property Agency, are marketing the final apartments available in The Grand Residences

Why I bought an apartment in The Grand Residences, Eastlakes: Urban buyer testimonial

In the heart of <a href="/developments/newcastle-west-nsw-2302">Newcastle West</a>, iCIRT-rated developer <a href="/developers/gwh">GWH</a> is crafting a new architectural icon, ONE Apartments on National Park Street.

The under-construction development offers expansive floor plans that are 20 per cent larger than the local market average, catering to a diverse range of homeowners.

Designed by the renowned <a href="/architects/marchese-partners">Marchese Partners</a> in collaboration with local firm CKDS, <a href="/new-apartments/one-apartments-newcastle-west-1-national-park-street-newcastle-west">ONE Apartments</a> consists of two towers, rising 22 and 19 levels, and connected by a four-level podium housing commercial spaces.&nbsp;

[smartcode_project:default project_id=24247 project_image_fid=281096]

With construction underway at ONE Apartments, we visited the onsite display suite on One National Park Street and spoke to&nbsp;GWH's Peter Kunov and George Araujo to find out more about the development.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/Auz9mk1aIhw?si=dEkXpV64j62wFaS1" title="YouTube video player" width="560"></iframe>

ONE Apartments&nbsp;will feature 193 one, two, and three-bedroom apartments, each offering open-plan living areas that extend to private winter gardens. These spaces provide residents with stunning views of Newcastle Harbour, Stockton, Merewether, and the Watagan Mountains.

Future residents will have the option to choose between light and dark colour palettes, featuring natural, earthy tones. The interiors are designed with premium finishes, and the kitchens are equipped with top-of-the-range Smeg appliances, blending style and functionality.

Residents will enjoy access to an outdoor heated pool, a state-of-the-art gym, a sauna, a private Ultra HD cinema, and a bookable private function room.&nbsp;

[smartcode_project:default project_id=24247 project_image_fid=281101]

The development also boasts two all-weather rooftop entertainment areas: the Scenic Lounge on the 22nd floor of the South Tower and the Harbourview Lounge atop the 19th floor of the North Tower. These spaces provide 360-degree views of Newcastle, perfect for hosting gatherings or relaxing.

ONE Apartments is within walking distance from Darby Street eateries, parks, the Civic Theatre, Newcastle Interchange, the Honeysuckle foreshore precinct, and various retail stores.

[smartcode_project_cta:default project_id=24247]

Inside ONE Apartments, Newcastle's newest apartment development: Urban's display suit tour

The Grand Residences in Eastlakes in the Eastern Suburbs of Sydney, is the very last development by Crown Group.

The developer’s track record for delivering quality, the Eastern Suburbs gateway location of the project, and the price vs return proposition, are drawing the eye of investors, who have largely been out of the market in the last few years across the country.&nbsp;

It takes a product and an offering like <a href="/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand Residences</a> to bring an investor into the market in this interest rate environment.&nbsp;

Selling agents McGrath Projects and CPA have been fielding interest from both savvy property investors and mum and dad investors since releasing the final apartments in the building – apartments that were held back from sale when the trio of buildings above The Grand Shopping Centre were launched to market in 2018.

We’ve crunched the numbers to see how The Grand Residences stacks up for investors.

<h2>Rental Return*</h2>

The Grand Residences is already home to a diverse mix of owner-occupiers and investors, the latter of whom have been afforded a rare opportunity to secure yields not often seen in the apartment market in Sydney, whether they bought off-the-plan in 2018, or are buying now.

Investors eyeing a one-bed apartment should see a tenant pay between $650 to $700 per week, which, on a purchase price of between $735,000 and $790,000, would bring a minimum gross yield of 4.6 per cent for an investor.

[smartcode_project:default project_id=7652 project_image_fid=262584]

A recent sale within the building – a two-bed, 1.5 bath apartment with a single carspace for $865,000 – was subsequently placed onto the rental market to take advantage of the current rental demand. Within 14 days a tenant was secured at $950 per week, representing a 5.7 per cent gross yield based on the sale price.

This is just one example of the great opportunities available to investors at The Grand Residences.

*The rental return is an estimate based on market research and weekly rents already achieved in the building.

<h2>Depreciation Estimates*</h2>

On top of the strong rental returns, low vacancy rates across Sydney and the anticipated price growth based on the historic performance of Eastern Suburbs property, there are significant depreciation benefits for investors.

Indicative One Bed + Study Tax Depreciation Claimable*

BMT Tax Depreciation reports show the minimum tax depreciation could be around $378,000, an estimate which typically spans for an ownership period of 40 years. The first depreciation estimate is around $16,500 in the first year of ownership, and steadily declines year on year to be around $9,000 by year 10. The maximum depreciation for a one-bed plus study over the same period could be $462,000, with depreciation of the asset starting at over $20,000 in the first year.&nbsp;

Indicative Two Bed Tax Depreciation Claimable*

Depreciation for two-bedroom apartments could be $476,000 over 40 years of ownership, the first year of ownership being a $19,000 deduction at a minimum. The maximum could be $582,000, a first year depreciation of $23,000.

* Please obtain independent advice from a qualified tax accountant based on your personal circumstances

<h2>How does depreciation work?&nbsp;</h2>

Depreciation of an investment apartment refers to the decrease in value of the property over time due to wear and tear and aging of the asset. This concept is important in accounting and taxation because it allows property owners to account for the gradual deterioration of their asset and claim tax deductions as a result.

In practical terms, depreciation recognises that buildings and structures used for income-producing purposes, such as rental apartments, lose value as they age and are used. The depreciation process allows owners to recover the cost of the property over its useful life through annual deductions on their tax returns. This deduction is typically calculated based on the initial purchase price of the property, excluding the cost of land, and spread out over a predetermined period.

[smartcode_project:default project_id=7652 project_image_fid=262581]

From a financial standpoint, depreciation provides a way to offset taxable income generated by the rental property, thereby reducing the owner's overall tax liability. It's a non-cash expense, meaning the property owner doesn't actually spend money annually but rather reduces their taxable income by a calculated amount based on the property's depreciation schedule.

This accounting practice helps investors maintain cash flow while accounting for the long-term decline in the property's value.

<h2>Why The Grand Residences Eastlakes</h2>

The biggest two factors when property investors assess the viability of a new asset are yield and depreciation. The third factor is potential price growth, which is more difficult to forecast. That’s more often done on past performance, and based on both potential development uplift in the area, and a scarcity of stock. 
Eastlakes is a hidden gem that has preserved its charm over the past decade, with limited redevelopment. The Grand Residences Eastlakes stands out as a notable addition to the area, being one of the few new apartment buildings recently completed. The suburb offers a unique opportunity for future growth with ample potential for new developments.

There is also further redevelopment expected next door which will likely see the southern section of the old <a href="/developments/eastlakes-nsw-2018">Eastlakes</a> Shopping Centre transformed into a new mixed-use precinct. If that vision materialises, that will lift the value of The Grand Residences.

[smartcode_project:default project_id=7652 project_image_fid=262598]

With the significant increase in construction costs since COVID-19, driven by material and labour costs, as well as the cost of land, the new apartments will have to be priced significantly higher than what The Grand Residences is currently being offered for.

The Grand Residences was completed in 2022 and won the prestigious Urban Taskforce Australia Development Excellence Award.&nbsp;

McGrath Projects Director, Adam Sparkes, says the building offers incredible value for every cohort of buyers looking at the Eastern Suburbs.

“The building is achieving strong rental yields for the area, and since completion two years ago, properties have been tightly held. The opportunity to buy at this price point and in this location isn’t likely to come around again.”

[smartcode_project_cta:default project_id=7652]

On top of the strong rental returns, low vacancy rates across Sydney and the anticipated price growth based on the historic performance of Eastern Suburbs property, there are significant depreciation benefits for investors

How The Grand Residences, Eastlakes apartments, stack up for investors

Bayside specialists&nbsp;<a href="/developers/lowe-living">Lowe Living</a>&nbsp;is continuing to pad out its new apartment pipeline.

Lowe Living, led by Tim and Emma Lowe, has filed $17 million plans to the Bayside Council for a new Cera Stribley designed development on a 2,730 sqm block at <a href="/new-apartments/31-35-alicia-street-hampton-east">31-35 Alicia Street</a> in <a href="/developments/hampton-east-vic-3188">Hampton East</a>, near Linacre Private Hospital and closer to the sand at Sandringham than Hampton.

The development will home 32 two and three-bedroom apartments and is the latest in a long line of Bayside projects for the Sandringham-based developer.

They're is currently selling two other Hampton developments,&nbsp;<a href="/buildings/oceano-hampton-by-lowe-living-9-ocean-street-hampton">Oceano on Ocean Street</a>&nbsp;and&nbsp;Hampton Hill on <a href="/buildings/hampton-hill-by-lowe-living">Hampton Street</a>, while they have other active developments in <a href="/developments/sandringham-vic-3191">Sandringham</a>, <a href="/developments/south-melbourne-vic-3205">South Melbourne</a>, <a href="/developments/parkdale-vic-3195">Parkdale</a> and <a href="/developments/armadale-vic-3143">Armadale</a>.

Always targeting the owner-occupier, typically the downsizer, the new plans are for a three-level building which presents as a two-level podium with a recessed third level to Alicia Street.

<a href="/architects/cera-stribley-architects">Cera Stribley</a> said in the documents submitted to council that their architectural vision is a contemporary reinterpretation of the Californian bungalow, a typology that is a hallmark of Hampton's heritage.

"By borrowing, abstracting and reinterpreting elements of this quintessential style - such as strong datum lines, articulated columns, exposed structures, and roof tiles - out design achieves a balance between modernity and familiarity," Cera Stribley noted in their Architectural Design Statement.

"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."

There will be 14 two-bed apartments and 18 three-bed apartments on offer, serviced by 61 parking spacesand 10 bicycle spaces.

The upper level of the building is characterised by exposed structural elements, fenestrations, and large balconies to enhance the depth of the façade, contributing to a balanced and subtle architectural expression.

The podium level is designed with inspiration from the Californian bungalow architectural style, featuring brick materiality to evoke warmth while the modern interpretations of articulated columns create a rhythmic street presence.

A communal lounge and external terrace will be located near the building's entry.

&nbsp;

Cera Stribley said in the documents submitted to council that their architectural vision is a contemporary reinterpretation of the Californian bungalow, a typology that is a hallmark of Hampton's heritage

First look: Lowe Living's latest Hampton apartment development revealed

Joint venture partners Deicorp and PAYCE have launched the first collection of apartments in their $700 million Melrose Park development.

<a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>&nbsp;will form part of the 30 hectare&nbsp;Melrose Park North Urbal Renewal Project&nbsp;near the Parramatta River and will deliver just under 500 one, two and three-bedroom apartments starting from $650,000.

The six buildings designed by <a href="/architects/turner-studio">Turner Studio</a> will sit above a five-level podium that will home a 30,000 sqm shopping centre anchored by a Coles supermarket and supported by several speciality stores, health and wellness facilities, and retail and hospitality venues.

&nbsp;

[smartcode_project:default project_id=134220 project_image_fid=289882]

Melrose Central has been eight years in the making. The initial planning discussions for the unused site kicked off back in 2016.

One of the biggest drawcards to Melrose Central will be how connected it is to Greater Sydney. It will have its own station as part of the Parramatta Light Rail Link which will be two stops to Wentworth Point, near its ferry terminal, six stops to Sydney Olympic Park, and nine stops to Parramatta.

[smartcode_project:default project_id=134220 project_image_fid=289877]

The development will incorporate private communal spaces and reinforce key site links established in the masterplan, dividing the large site into smaller, walkable building footprints.

The project will feature four distinct quadrants, each with its unique colour palette, materials, and place-making elements to emphasise the identity of the corner buildings.

[smartcode_project:default project_id=134220 project_image_fid=289888]

Stage one will see the five-level podium constructed, as well as three of the buildings. They will rise six, 15, and 24 levels, with the same heights planned for the other three buildings.

Early site works kicked off on site back in February. Deicorp is expecting Melrose Central to be complete by 2027. There will be around 6,000 apartments in the broader Melrose Park precinct.

<a href="/developers/deicorp">Deicorp</a>, founded in 1999 by&nbsp;Fouad Deiri, is currently building&nbsp;4,400 new apartments across 11 projects in Greater Sydney.

Their recent applications have been for new precincts in <a href="/news/nsw/first-look-exclusive-deicorp-submit-plans-for-joynton-square-mixed-use-zetland-precinct">Zetland</a> and <a href="/news/nsw/deicorp-lodge-state-significant-development-application-for-1-200-apartments-in-five-dock">Five Dock</a>.

[smartcode_project_cta:default project_id=134220]

Melrose Central has been eight years in the making. The initial planning discussions for the unused site kicked off back in 2016

First opportunity to buy Melrose Central apartments in Melrose Park

Melbourne's stalling property market has to be nearing the bottom.

Recent data published in the Australian Financial Review from property data analytics firm CoreLogic showed the&nbsp;Melbourne median dwelling value is currently 33.1 per cent below the median dwelling value in Sydney. Historically, on average, that gap has been 19.7 per cent.

It's the same story with Brisbane, where values in the Queensland capital are 8.8 per cent higher than in Melbourne. Melbourne is usually 13.7 per cent above.

Considering the widened gap that bucks history, as well as the record low new housing approvals in Victoria, rising construction costs, and the expected surge in population due to migration, it's clear that Melbourne is poised for a prolonged period of growth.

The market won't turn around overnight, and the most recent data from CoreLogic shows a decline of -0.2 per cent in the unit market (apartments and townhouses) over July.

Those declines in the established market have likely come because of increased supply levels, CoreLogic's Research Director Tim Lawless notes, where supply is outstripping current demand.

That's not the case in the new apartment market however.&nbsp;The most recent building approvals data from the ABS showed Melbourne's 3,840 unit approvals in June were -14 per cent down from the month prior.

Over two million new dwellings are proposed to be built by 2051 across Metro Melbourne, almost double the number of existing dwellings currently in the metro area.

<h2>What happened in Melbourne’s off the plan apartment market in July</h2>

Referring back to the lack of supply in the new apartment market, there was only one notable project that moved into a registrations of interest phase.

That's the new Elsternwick development by the design-driven developer&nbsp;<a href="/developers/milieu-property" target="">Milieu</a>, who revealed what is arguably one of its most unique developmens it has produced since being founded 15 years ago.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu has spent the last two years working alongside <a href="/architects/woods-bagot">Woods Bagot</a>, <a href="/landscape-architect/oculus">OCULUS</a> Broached Commissions and <a href="/architects/march-studio">March Studio</a> to create a garden-centric community they’re calling <a href="/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens by Milieu</a>.

The multi-building development, on the site of the former ABC Studios bordering Elsternwick's landmark Ripponlea Estate and gardens, has been designed to focus on nature and landscaping.

Residents will have direct private access to the heritage-listed gardens of the Ripponlea Estate, while its head gardener will tend to the landscaping of Elsternwick Gardens by Milieu on its completion.

[smartcode_project:default project_id=112375 project_image_fid=250363]

There was increased sentiment in the market in <a href="/developments/glen-iris-vic-3146">Glen Iris</a> where&nbsp;Projects by Buxton Director Heath Thompson sold four apartments in the last few weeks at <a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>&nbsp;which will no doubt encourage the market heading into the spring selling season.

Thompson said three of the four buyers went from enquiry to sale within a week.

"We [Melbourne] haven't had that sort of conversion timeline for what feels like a very long time," Thompson said.

GALERIE has sold predominantly to downsizers, but the recent purchasers presented a different demographic in the building that is expected to welcome buyers toward the end of the year.

[smartcode_project:default project_id=141969 project_image_fid=222388]

Construction got underway at&nbsp;Abadeen's <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a>&nbsp;apartments in&nbsp;<a href="/developments/malvern-east-vic-3145">Malvern East</a>.

Brompton Construction, the multi-award winning Master Builders Victoria construction firm, has officially commenced construction on the seven luxury apartments on Central Park.

“<a href="/developers/abadeen-group">Abadeen</a>&nbsp;chose Maléa because of its incredible location opposite Central Park in the beating heart of&nbsp;<a href="/developments/malvern-east-vic-3145">Malvern East</a>,"&nbsp;<a href="/content/abadeen-officially-announce-expansion-into-victoria-with-two-luxury-projects" target="">Andrew Leoncelli</a>, who runs Abadeen in Victoria, says.

<a href="/builders/brompton-construction">Brompton Construction</a>&nbsp;is expecting to complete the building in late 2025.

One of Melbourne's most notable developers, Piccolo, filed for its next development as it approaches sellout of its Fitzroy apartment development, A Piccolo House - Gore Street.

[smartcode_project:default project_id=141498 project_image_fid=290942]

This one is in <a href="/developments/kew-vic-3101">Kew</a> where <a href="/developers/piccolo">Piccolo</a> has filed plans for five three-level buildings at 18 Barry Street.

The project, currently referenced as&nbsp;<a href="/new-apartments/piccolo-house-barry-st-kew-barry-street-kew-18-barry-street-kew">A Piccolo House, Barry Street</a>, part of the Piccolo House collection that targets the high-end owner-occupier,&nbsp;will comprise 60 two, three and four-bedroom apartments.

Read more: <a href="/news/vic/first-look-exclusive-piccolo-plot-new-kew-apartment-development">First look exclusive: Piccolo plot new Kew apartment development&nbsp;</a>

Boutique developer Callex Group is also heading to Kew for its latest venture.

Callex is plotting a small development of just seven apartments on an already cleared 1,266 sqm site at 9 O’Shaughnessy Street, walking distance to Kew Junction, Glenferrie Road shopping precinct and Victoria Gardens.

<img alt="First look: Callex Group plan boutique Kew apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_900,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/O%E2%80%99Shaughnessy%20Street%20front.png?VersionId=xSEIYv0SnF7Uyg2M8P5a2yOvond3WHXA" />

The proposed development includes one two-bedroom apartment and six three-bedroom apartments, along with 15 car spaces and six bicycle spaces.

The design by&nbsp;<a href="/architects/carr-design">Carr</a> incorporates elements from the existing built environment, using textures and tones that complement O'Shaughnessy Street and the adjacent Foley Reserve.

Read more:&nbsp;<a href="/news/vic/first-look-callex-group-plan-boutique-kew-apartment-development">First look: Callex Group plan boutique Kew apartment development</a>

CoreLogic's Monthly Hedonic Index showed a -0.2 per cent decline in the value of units (apartments and townhouses) across Melbourne over July, however there was a larger fall in house values (-0.5 per cent).

City Beat August 2024: Is Melbourne approaching the bottom of the market?

Kokoda Property has provided the first glimpse into what life could look like as part of Brisbane’s largest private development, a $1.5 billion mixed-use precinct on the banks of Teneriffe.&nbsp;

Known as <a href="/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe">Teneriffe Banks</a>, the next evolution of Brisbane City will provide a place to live, work, play and rejuvenate, spanning residential, hotel, commercial, and riverfront dining and retail.&nbsp;

Teneriffe Banks will comprise five unique buildings, The Interloom (North and South), The Ferry Building, The Store Houses (North and South) and within them, The Woven Lofts.&nbsp;

<img alt="Teneriffe Banks site plan" data-entity-type="file" data-entity-uuid="e3c1a954-edca-4b55-a4ba-9a42a6d5316b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/240802_Marketing%20Set_Site%20Plan_v2.jpg?VersionId=P7_AZlwU3BNXfUFLA2n9.1_bqzrQV4j1" />

Over 200 dwellings will soon be available, ranging from luxury apartments to modern penthouse residences and grand,&nbsp;woolstore-inspired lofts.&nbsp;

Designed by <a href="/architects/cottee-parker-architects">Cottee Parker Architects</a> and <a href="/architects/carr-design">Carr</a>, Teneriffe Banks is set amongst lush gardens and open spaces, connecting Skyring Terrace back to the Brisbane River via sprawling laneways, Helen Lane, Wool Lane and Brick Lane.&nbsp;

Perched along the Brisbane River, the Teneriffe Banks flagship buildings known collectively as The Interloom, are designed to connect the urban landscape with the waterfront. The Interloom South will be home to a collection of two, three and four-bedroom luxury apartments and penthouses with resort-style common amenities including dining rooms, rooftop pool and spa, and coworking spaces.&nbsp;

<img alt="Teneriffe Banks overlooking Brisbane River" data-entity-type="file" data-entity-uuid="8ebb6a2a-e7c3-4d9f-a11c-4fbe1fbd8c2e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EA14b%20-%20Marina%20Brisbane%20River%20South.jpg?VersionId=3evWuxvBtVptBkFQeUXt2tcXDx7T9ttV" />

The Interloom North will be home to Brisbane’s first Kimpton Hotel, which will feature a 200-plus-seat signature restaurant and bar, spa with multiple treatment rooms, a fitness centre, large-scale multi-purpose meeting and event spaces, as well as an open-air Garden Terrace complete with infinity pool, and a rooftop bar with spectacular Brisbane city views.&nbsp;

The Ferry Building, adjacent to the iconic <a href="/developments/teneriffe-qld-4005">Teneriffe</a>&nbsp;Ferry Terminal, will feature expansive modernist homes with 3.6m ceiling heights, offering layouts that masterfully blend the neighbourhood character of the woolstores with modern craft.&nbsp;

Along Skyring Terrace, The Store Houses North and South will be home to modern warehouse residences known as The Woven Lofts, offering a contemporary interpretation of the iconic Teneriffe warehouse, inspired by the world’s best post-industrial homes.&nbsp;

<img alt="Teneriffe Banks terrace" data-entity-type="file" data-entity-uuid="9af1602d-914f-4a85-ab7e-66f51dddc4a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EL03b%20-%20T2%20L2%20Podium%20Terrace.jpg?VersionId=e3xTvgpINyQtNxT.7zHf3PBu1SwN6DDY" />

Nestled above The Woven Lofts will sit the fifth collection of homes, The Store Houses, which kits onto both the north and south buildings along Skyring Terrace and captures the urban character and city form, inspired by the geometry of the masterplan with a selection of one, two and three-bedroom apartments, and a unique loft apartment masterfully designed to take advantage of both city and river views.&nbsp;

<a href="/developers/kokoda-property">Kokoda Property</a> Founder and Managing Director Mark Stevens said that Teneriffe Banks will be the developer’s crowning achievement.&nbsp;

“Teneriffe Banks is one of the largest private developments within Brisbane and with that, comes a weight of responsibility," Stevens said.

"We have worked tirelessly to refine the masterplan and vision for the site and believe it will leave a lasting legacy for the city of Brisbane. It will become a global destination where people can meet, connect, and enjoy for generations to come."

Teneriffe Banks is a collaboration between design partners Cottee Parker Architects, Carr, and <a href="/architects/urbis">Urbis Town Planning and Landscaping</a>.&nbsp;

“The advantage of working with two architectural practices is that they both feed off each other, finding strengths in their respective niches and harmoniously bring them together. I believe we have successfully combined the best of both worlds,” Stevens added.

[smartcode_project_cta:default project_id=139896]

Teneriffe Banks is a collaboration between design partners Cottee Parker Architects, Carr, and Urbis Town Planning and Landscaping. 

Kokoda Property unveils Teneriffe Banks, $1.5 billion Brisbane River precinct

Demand for new apartments on the Lower North Shore increased to their highest levels in over two years in the second quarter of 2024.

Data from <a href="https://industry.urban.com.au/data-insights">MatterFact</a>, <a href="/" target="">Apartments.com.au's</a>&nbsp;new data product, showed enquiry jumped 20 per cent between Q1 2024 to Q2 2024 across Lower North Shore suburbs, with the likes of <a href="/new-apartments/north-sydney-nsw">North Sydney</a>, <a href="/new-apartments/crows-nest-nsw-2065">Crows Nest</a>, <a href="/new-apartments/mosman-nsw-2088">Mosman</a> and <a href="/new-apartments/roseville-nsw-2069">Roseville</a> seeing the largest increases.

Enquiry hasn't been at this level since 2022.

Increased levels of enquiry were the most prevalent at the upper end of the market. While the most popular price point enquired on across the Lower North Shore in Q2 2024 was between $1.5 million to $2 million, the biggest increase in enquiry came in the $3.5 million to $4.5 million range.

Smaller, boutique apartment developments in some of the Lower North Shore's most affluent suburbs saw a lot of interest, while the ever-popular <a href="/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>, recently completed by Aqualand's inhouse construction arm on North Sydney's dress circle Walker Street, saw an increase in its luxury three-bedroom apartments toward the top of the Woods Bagot designed tower.

[smartcode_project:default project_id=30959 project_image_fid=286062]

The suburb search on Apartments.com.au didn't throw up too many curveballs for the Lower North Shore compared to recent quarters.&nbsp; The most searched suburb for every quarter over the&nbsp;last 12 months has been <a href="/developments/chatswood-nsw-2067">Chatswood</a>,&nbsp;one of the northernmost suburbs in the Lower North Shore.

There are only a handful of new apartment developments in the market in Chatswood. Central Element's <a href="/new-apartments/ethos-15-ellis-street-753-pacific-highway-chatswood">Ethos Chatswood</a> launched in late 2022 and is on track to complete its construction by late 2025. Over 70 per cent of the 49 apartments have sold to date. Goldfields Group is developing <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson of Chatswood</a> nearby, 70 apartments across a 23-level tower.

The newest entry to the Chatswood new apartments market has been <a href="/new-apartments/hammond-greens-chatswood-5-9-gordon-avenue-chatswood">Hammond Greens</a>&nbsp;by Tian An, one of Australia’s oldest listed property developers. The FJC Studio designed tower offers 64 apartments across 27 levels on Gordon Avenue, next to the Chatswood Bowling Club.

The apartments will sit above&nbsp;1,476 sqm of retail and commercial space, aiming to offer a diverse hybrid work environment and communal spaces to foster connection with the local and broader community.

[smartcode_project:default project_id=142900 project_image_fid=252178]

Chatswood buyers are expected to have more choice next year given the number of development applications filed last year following the amendment to the&nbsp;Chatswood CBD Planning and&nbsp;Urban Design Strategy&nbsp;2026. The amendment saw the CBD boundary expanded to the north which opened up the height limit to another area of the city.

Last year Bridgestone <a href="/news/nsw/bridgestone-file-for-two-tower-chatswood-apartment-project">filed for two towers with 95 apartments</a>, while VIMG <a href="/news/nsw/first-look-vimg-plot-two-tower-chatswood-apartment-development-nelson-place">wants to develop two towers</a> with over 190 apartments.

Busy developer <a href="/developers/billbergia">Billbergia</a> also proposed two new towers, their first development in the area. They're planning <a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development">two slim 27-level towers with 251 apartments</a> atop a podium with retail, commercial showrooms and&nbsp;flexible SOHO style live/work offerings.

<a href="/developers/coronation-property">Coronation Property</a> is expecting to launch its Chatswood tower in 2025. That will have around <a href="/news/nsw/coronation-property-acquires-200-million-chatswood-development-site-expect-130-apartment-tower">114 apartments at 57-61 Archer Street</a>, in the centre of the suburb and across the road from key amenities including Westfield Chatswood and Chatswood Chase.

<img alt="Coronation" data-entity-type="file" data-entity-uuid="f05e8633-0532-4cfa-a309-20e7fd32fbcf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-06%20at%2010.10.18%E2%80%AFAM.png?VersionId=uTqa0zg.Zj88AMRoj3nP.s_N5aLFdrJl" />Coronation Property's Chatswood apartment development on Archer Street. Image credit: Coronation Property

There's been noteworthy development applications filed in Q2 2024, pointing to further improved supply in the medium term.

<a href="/developers/cbus-property">Cbus</a> and Galileo <a href="/news/nsw/first-look-exclusive-cbus-and-galileo-revise-plans-for-new-north-sydney-apartment-development-east-walker-street">revised plans for their North Sydney apartment development</a> on Walker Street, just up the road from AURA by Aqualand.

Urban revealed in mid-2022&nbsp;<a href="/news/nsw/first-look-cbus-lodge-plans-for-striking-walker-street-apartment-tower-in-north-sydney">Cbus' original plans</a>&nbsp;for the new on a prime 3,950 sqm site across 173-179 Walker Street and 11-17 Hampden Street.

They've gone back to the drawing board and brought in&nbsp;<a href="/architects/rothelowman" target="">Rothelowman</a>&nbsp;to rejig the plans, add more levels, and reconfigure the apartment mix to have 258 apartments, over five per cent of which are reserved for affordable housing which now triggers increased height levels for new apartment developments.

Developer <a href="/developers/twt-property-group">TWT</a> is pushing forward with its multi-stage, 9,500 sqm masterplan <a href="/new-apartments/the-collective-crows-nest-23-35-atchison-st-crows-nest">The Collective</a>, on the fringe of Crows Nest. Soon to launch the first building of apartments, TWT <a href="/news/nsw/first-look-exclusive-twt-expand-1-billion-st-leonards-precinct">filed for a future stage</a>, two mixed-use buildings with 137 apartments above what will become a thriving commercial, retail and hospitality precinct.

Earlier this year&nbsp;<a href="/news/nsw/twt-appoint-westbourne-construction-to-build-first-stage-of-1-billion-st-leonards-masterplan-the-collective">TWT apppointed Westbourne Constructions</a>&nbsp;as the builder of the masterplan.

The inaugural phase of The Collective will introduce 93 residences with one to four-bedroom configurations. The low-density design has been created by Team2 Architects and will have interiors by DBI.

What are new apartment buyers in Sydney's Lower North Shore looking for? MatterFact Insight

Developer Sarazin and tier-one construction firm Hutchinson Builders has signalled the start of construction of Woolloongabba's newest development, Murcia Residences.

Following tradition, Sarazin and Hutchies has officially turned the first earth at a sod-turning ceremony that has become a custom practice in the development industry.

<a href="/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane">Murcia Residences</a>, on the border of <a href="/developments/woolloongabba-qld-4102">Woolloongabba</a> and <a href="/developments/east-brisbane-qld-4169">East Brisbane</a> at 9 Overend Street, just 150 metres from The Gabba, has been inspired by the Spanish city of Murcia and comprises 210 one, two and three-bedroom apartments in a Mediterranean-like building.

In the building will be a 700 sqm office tenancy on the second floor and 300 sqm of retail on the ground floor.

[smartcode_project:default project_id=135094 project_image_fid=214684]

Crowning the building will be an <a href="/news/qld/the-top-10-best-apartment-rooftops-in-brisbane">impressive rooftop</a> with a&nbsp;heated infinity pool, cold and warm magnesium plunge pools, spa, sauna, bookable private dining room, work-from-home spaces, fully equipped gym and various outdoor alfresco BBQ areas.&nbsp;

A public art gallery located on the ground floor builds on Sarazin’s already substantial contribution to the arts in Brisbane, complementing its groundbreaking STEAMM Studios (STEM + Art and Music) at Woolloongabba and Sarazin’s major sponsorship of the Griffith University Art Museum at South Brisbane.

[smartcode_project:default project_id=135094 project_image_fid=214685]

Strategically located and in close proximity to the soon-to-be operational Woolloongabba Cross River Rail station, residents and workers at Murcia will enjoy unequalled connectivity to train, bus and tram services, with easy access to north and south arterial freeways.

Read more:&nbsp;<a href="/news/qld/a-front-row-seat-to-the-2032-brisbane-olympics-how-murcia-residences-is-set-to-take-advantage-of-woolloongabba-boom">A front row seat to the 2032 Brisbane Olympics: How Murcia Residences is set to take advantage of Woolloongabba boom</a>

With panoramic views of the Brisbane city skyline, and within easy walking distance to the Logan Rd and South City Square dining precincts, Murcia Residences is set to become a landmark Brisbane building, reflecting the evolution of city in the lead up to the 2032 Olympic Games.

[smartcode_project:default project_id=135094 project_image_fid=214681]

<a href="/developers/sarazin">Sarazin</a> Founder and Director Darren Dougan said Murcia’s architecturally ambitious design is set to become the gold standard for urban regeneration in the area.

"In the midst of a housing crisis, Murcia will provide much needed additional supply to the Brisbane market, offering varied housing options to the community, from the solo urbanite to downsizers to young families.”

<a href="/builders/hutchinson-builders">Hutchinson Builders</a> Chairman Scott Hutchinson said the team are delighted to be partnering with Sarazin on this project. &nbsp;

"We have been impressed by Sarazin’s attention to detail and professional business ethos, and we look forward to working with the Sarazin team to deliver an exceptional residential development.”

Murcia adds to Sarazin’s other developments in Woolloongabba, including Silk One, Silk Lane, Nuage and Hampton Yards.&nbsp;

[smartcode_project_cta:default project_id=135094]

Sarazin Founder and Director Darren Dougan said Murcia’s architecturally ambitious design is set to become the gold standard for urban regeneration in the area

Sarazin officially turn sod at Murcia Residences

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Joel Robinson

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