Aria is again seeking to bulk up its upcoming Kangaroo Point apartment project, Canopy House.

The design change comes after the&nbsp;Tim Forrester-led developer, who focuses heavily on sustainable practices, green buildings and extensive rooftop amenity, has bought the site next door to the approved Canopy House, now giving them a larger footprint of around 2,300 sqm across 50-62 Leopard Street, Kangaroo Point

They're seeking to add a further four levels to the previous 29-level tower by Rothelowman, which were approved in August after a&nbsp;<a href="/news/qld/aria-seek-to-make-kangaroo-point-cliffside-tower-canopy-house-by-aria-larger">change application in June last year</a>.

<img alt="Aria" data-entity-type="file" data-entity-uuid="e8523cf3-a37b-4317-a899-12ab7108ad3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-16%20at%208.29.27%20pm.png?VersionId=EcbkV1.4aU3qa_g5kxyNXsrkqKpgJOuZ" />

The new design will also see the step in the building removed. The tower floorplate will now get larger from levels 14 upwards, where previously narrowed to home the larger three-bedroom apartments. The design change will see&nbsp;the apartment numbers increase from 136 to 196.

The majority of the increases will be in the two-bedroom stock. There will be 75 per cent more two-beds, with then numbers jumping from 64 to 112. The three beds will increase 27 per cent from 66 to 84.

With the increase in the apartments will come an increase in the parking spaces, up to 295 from 226.

The new design will also see an extended podium which will now feature a resident park with a barbecue kitchen and outdoor dining area, playground, and seating pods.

The documents suggest the new design will improve the facade, providing a "greater visual relief to the built form and significantly increasing the project’s ‘Green Factor’."

<img alt="Kangaroo" data-entity-type="file" data-entity-uuid="fe2b8b2f-21a0-443a-ad4c-1d8ac634e26e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-17%20at%2010.18.44%20am.png?VersionId=M799qvcaNsT1mrk3C9giXBKlEhPEAC8p" />

The land acquisition next door provides more than 130 metres of additional street frontage to Mark Lane, Leopard Street and Vulture Street.

Town planner Saunders Havill Group suggested in the documents submitted to the Brisbane City Council that&nbsp;the increased size of the site and the full control of the block-end provides for several significant improvements to the project in terms of its ground plane public realm offering, vehicle access, servicing and circulation, constructability, and sequencing methodologies.

They said the widening of the Mark Lane carriageway and verge will provide an improved pedestrian experience and vehicle safety, while also creating an opportunity for Mark Lane to become a destination laneway with echoes of Fish Lane.

The site had previously had two dwelling houses which Saunders Havills said were "left isolated", and had limited development potential.

Icon is forecasting an August start of construction, with a crane being installed onsite by March next year. Completion is forecasted for the end of 2027.

Joel Robinson

First look: Aria bulk up Canopy House in Kangaroo Point by buying next door

Barry Morris' love affair with Broadbeach is showing no signs of wavering.

His Canberra-based, Gold Coast prolific development company Morris Property Group is planning their 10th residential development <a href="/developments/broadbeach-qld-4218">in the suburb</a> neighbouring Surfers Paradise, the majority of which have been delivered in the last few years.

"Buyers love Broadbeach because it offers beachside living with metropolitan amenities, which is what the market is after," Morris told Urban back in 2022.

Morris has submitted plans for a high-end tower focused on the more affluent owner-occupier at 14 Chelsea Avenue, Broadbeach, a 607 sqm site next to their <a href="/buildings/opus-16-18-chelsea-avenue-broadbeach">Opus</a> Broadbeach tower which they completed in 2021.

They've had <a href="/architects/cottee-parker-architects">Cottee Parker</a>&nbsp;design a 25-level building with 22 full-floor apartments and a sole two-bed unit. They will sit above three basement levels which will have 45 parking spaces.

<img alt="Morris" data-entity-type="file" data-entity-uuid="b1998fca-03d4-4256-8d18-b5912346c8e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-16%20at%207.40.50%20pm.png?VersionId=PAlMvzeOcaobkxi0BNCHfPSoXMZvn7HK" />

The architecture firm said in documents submitted to the <a href="/developments/gold-coast-qld">Gold Coast</a> City Council this week that the project "presents as a slim and elegant form within the streetscape of Chelsea Avenue."

"Its slender, curvaceous form is in counterpoint to and contrasts with its neighbour on the west," the plans read.

"Overlooking the outdoor recreation and community precinct nearby - its design acknowledges and responds to its natural environment. The project draws inspiration from the grove of iconic Norfolk pine trees opposite, as well as from its proximity to sand and surf."

Each of the apartments will have 190 sqm internally and 35 sqm of balcony space, promoting indoor-outdoor living via wide sliding doors and making the most of the northerly and easterly views from football fields to wide ocean views of the Broadbeach shoreline and up and down the length of the Gold Coast.

<img alt="Morris" data-entity-type="file" data-entity-uuid="c91b3382-ca11-4b97-ab53-752da44a956f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-16%20at%207.47.27%20pm.png?VersionId=XtcU3TrCNKUBCIDags_ZNQ4y7raVe7fY" />

"The form of the balconies was inspired by the branch formations of the Norfolk pines which frame the view across to the sports field and beaches on the northern side of the street," the report noted.

"This balcony form adds depth, shade and layering to the facade, and its treatment softens the presentation of the building."

Rooftop recreation facilities include a pool deck, BBQ and dining area and a wellness centre including a gym, a lounge area and a sauna.

Morris has another site further up Chelsea Avenue where they're <a href="/news/qld/first-look-morris-property-group-file-plans-for-two-more-broadbeach-towers">planning a similarly boutique project</a> with 18 three-bedroom apartments across 20 levels.

The Canberra-based developer is currently marketing <a href="/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest</a> in Broadbeach, across the park at 13 Armrick Avenue. That's recently surpassed the <a href="/news/qld/crest-broadbeach-races-to-over-50-per-cent-sold">50 per cent sold mar</a>k, with construction underway.

Morris is onto its ninth apartment development in Broadbeach

Exclusive first look: Morris Property Group plot another Broadbeach tower

The first stage of Willoughby Grounds, the new Willoughby apartment development by&nbsp;First Quadrant Properties&nbsp;and&nbsp;Qualitas, is fast approaching sellout.

All of the one and two-bedroom apartments have been snapped up in the first building, Fleming, which was designed to pay homage to the tanneries from the 1800s.

All five of the buildings in&nbsp;<a href="/new-apartments/willoughby-grounds-5-walter-street-willoughby">Willoughby Grounds</a>&nbsp;have been designed to reflect Willoughby's industrial past. Future stages will have buildings that recognise&nbsp;pottery, blacksmiths, logging and brickworks.&nbsp;

[smartcode_project:default project_id=135512 project_image_fid=251214]

There's only one three-bedroom apartment left, and a handful of four-bedroom apartments which have proven incredibly popular, so much so the developer amalgamated a number of smaller apartments to create more four-bedroom units.

Read more:&nbsp;<a href="/news/nsw/buyers-look-for-size-on-sydneys-lower-north-shore-as-large-apartments-snapped-up-at-willoughby-grounds">Buyers look for size on Sydney's Lower North Shore as large apartments snapped up at Willoughby Grounds</a>

<a href="/project-marketer/link-project-marketing-0">LINK</a> Project Marketing Director, Ben Hamblett, said four-bedroom apartments don't exist in Willoughby, which is drawing buyers who can't hit the threshold of a house purchase.

&nbsp;

[smartcode_project:default project_id=135512 project_image_fid=251218]

&nbsp;

Willoughby Grounds will have just 164 apartments&nbsp;spread across the five buildings, with just 30 to 35 units in each. Fleming was the smallest stage, with sub-30 units following the amalgamations.

Construction of Willoughby Grounds is being undertaken by the iCIRT-rated builder <a href="/builders/dasco-australia">DASCO</a>, with the first apartments scheduled for completion later this year and the following stages expected to be ready by mid-2025.

[smartcode_project_cta:default project_id=135512]

Willoughby Grounds will have just 164 apartments spread across the five buildings, with just 30 to 35 units in each


Willoughby Grounds approaches stage one sellout

International developer Third.i is continuing its boutique push in Sydney's harbourside with its latest project.

Following on from their Muse development in Potts Point, <a href="/developers/thirdi-group">Third.i</a>, led by Ron Dadd and Luke Berry, has filed plans for a luxury apartment project in the neighbouring Rushcutters Bay.

The $21.6 million development at 51-57 Bayswater Road, submitted to the City of Sydney this month, will comprise 12 apartments above two retail tenancies on the ground level.<img alt="Third.i" data-entity-type="file" data-entity-uuid="3e5a1a41-c640-41ad-b7e6-9f8d97c300a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-15%20at%207.50.24%20am.png?VersionId=NowrZKkiQQq3QA0TyqpDKdtdWqBapT6e" />

The 594 sqm site, currently home to an eight-level, concrete apartment building, sits at the corner of Bayswater Road and Ward avenue, on the border of <a href="/new-apartments/potts-point-nsw-2011">Potts Point</a> and Rushcutters.

Woods Bagot said the location presents an "outstanding opportunity to merge the development's rich Art Deco heritage with its natural surroundings, creating a harmonious blend of historical charm and modern amenities."

"Our design has aims to respond to its context in multiple ways: considering its precolonial history, responding to the surrounding built environment, considering site-specific opportunities, enhancing its streetscape, and addressing privacy and sustainability," Woods Bagot noted in their Design Statement.

"Designed with sensitivity to its natural and historical context, the proposed development draws inspiration from the rushes that once characterised the area, paying homage to its precolonial history."

Woods Bagot said it's evident in the treatment of the&nbsp;façade elements, the integration of water as a design element, and the use of native species for planting.

"The design also references the architectural motifs of nearby Art Deco buildings, incorporating key moves such as the horizontal band expression with vertical accents, the use of clear geometric shapes, marking the entries and using brickwork as a primary material."

<img alt="Third.i" data-entity-type="file" data-entity-uuid="2b7a5a1a-ae76-40b5-88b0-1444e3f8d028" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-15%20at%207.42.37%20am.png?VersionId=9X4Rvm2CUmjX4NFl99KSShXZV3Yw_rQU" />

The 12 apartments will sit across six levels and above two basement levels with 14 parking spaces, accessed by a car lift.

The two retail tenancies will front Bayswater Road.

Each apartment spans half a floor and starts from 121 sqm. They get larger further up the building, more like 140 sqm. Each unit has a balcony, at least 50 sqm, which will have a built-in spa.

There are two three-level penthouses, taking up three half-floors. The first level will be the main living space, which will have an additional butler's pantry in the kitchen and a multi-purpose room compared to the apartments below.

The second level will home the three bedrooms, the master with a balcony, and the private rooftop will be split down the middle, with each penthouse having a long plunge pool, outdoor kitchen, and alfresco space.

There is some space on the roof reserved for the whole building. That will have two alfresco dining spaces.

<img alt="Third.i" data-entity-type="file" data-entity-uuid="5b36a416-2053-4816-80a1-f3f2a96e5a3c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-15%20at%209.57.35%20am.png?VersionId=FRGxBtHlRGiYeQ.pU95VVlXR4FBCJTCN" />

Woods Bagot said the proposed development places a deliberate emphasis on offering a range of apartment types tailored to meet the diverse needs of potential residents.

"With a focus on accommodating families, the development proposes a significant number of three-bedroom units, acknowledging the demand for spacious living environments suitable for family-oriented lifestyles."

The plans come just a few months before the expected completion of <a href="/new-apartments/nautique-rushcutters-bay-100-bayswater-road-rushcutters-bay">Nautique</a> in <a href="/new-apartments/rushcutters-bay-nsw-2011">Rushcutters Bay</a>, the suburb's first major&nbsp;apartment development in over 13 years.

Nautique, which is being developed by JDH Capital, is a redevelopment of the former Vibe Hotel near Rushcutters Bay Park.

<dl>
	<dd>&nbsp;</dd>
</dl>

Woods Bagot said the proposed development places a deliberate emphasis on offering a range of apartment types tailored to meet the diverse needs of potential residents

First look exclusive: Third.i plot luxe Rushcutters Bay apartments

Aniko Group has settled the $32.5 million purchase of the&nbsp;<a>Mermaid Beach</a> site earmarked for the company’s flagship $2 billion mixed-use development, The Landmark.

The settlement marks another milestone for the four-tower development which is set to transform the long-vacant property into a <a href="/new-apartments/the-landmark-mermaid-beach-14-seaview-avenue-mermaid-beach-qld-4218">vibrant new residential, commercial, dining and leisure precinct</a>.

<a href="/developers/aniko-group">Aniko</a>&nbsp;purchased the 1.13ha site, located at the corner of the <a href="/new-apartments/gold-coast-qld">Gold Coast</a> Highway and Seaview Avenue, in 2022, with the $32.5 million deal listed among the biggest residential land transactions of the year.

“When considering the prime location, size and scale of the project proposed by Aniko Group, this is an irreplaceable asset and the development approval has added substantial value to the site,” said Mark Witheriff, the Gold Coast managing director at <a href="/project-marketer/cbre-residential-australia">CBRE</a> who negotiated the sale with Brenden Hogan of <a href="/project-marketer/colliers">Colliers</a>.

“The <a href="/developments/mermaid-beach-qld-4218">Mermaid Beach</a> holding is the best large-scale site remaining in the central Gold Coast region and it’s pleasing to see that Aniko Group has recognised the unique development opportunity it presents by progressing its plans to activate the property.”

The settlement of the acquisition comes on the heels of Aniko Group making minor adjustments to the proposed four-tower development, after the company secured approval for the masterplan late last year.

Read more:&nbsp;<a href="/news/qld/aniko-seek-rightsizers-at-2-billion-mermaid-beach-apartment-mega-project-landmark">Aniko seek rightsizers at $2 billion Mermaid Beach apartment mega-project, Landmark</a>

The Landmark, poised to become an iconic southern gateway to Broadbeach, will be developed in stages by Aniko Group over the next six years. This endeavour promises to unlock fresh residential and commercial opportunities at the doorstep of Pacific Fair, renowned as one of Australia’s premium shopping destinations.

When completed, The Landmark will comprise three residential towers of 25, 30, and 40 storeys, as well as a 53-level tower featuring a mix of hotel suites and private hotel-branded residences.

Complementing the meticulously integrated collection of residential apartments and the proposed luxury hotel will be an activated commercial precinct comprising offices, medical services and ground-floor retail and dining precincts.

<img alt="'Landmark' settlement of $32.5 million Mermaid Beach site" data-entity-type="file" data-entity-uuid="aad3e460-3470-4fb7-9c53-f9d538eeb88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/JPEG_aerial_aniko_masterplan_3_3d_render_by_volumevision.jpg?VersionId=1.uLIVBpLz2pmKWHXojCQzLNEk6zvYrM" />

A sprawling 1ha recreation podium will offer residents and hotel guests unparalleled amenities, all within close proximity to the entirety of the site.

Positioned prominently at the entrance to the iconic Pacific Fair Shopping Centre, the site is supported by its easy access to the Broadbeach South light rail station and bus interchange to create an uber-connected Landmark community and support a new urban heart for Mermaid Beach.

The visionary project, driven by Aniko Group founder and managing director George Mastrocostas, is gearing up for a start to construction at the end of this year.

“We’re thrilled to announce the settlement of the site purchase as the latest milestone for The Landmark,” Mastrocostas said.

“Through an exhaustive design process since we first put our foot on this site in 2022, we are now set to deliver a new standard for affordable luxury for Mermaid Beach, a suburb that has dominated the premium residential market for decades.”

Following extensive feedback from buyers seeking affordable luxury residential living in the suburb, Aniko Group recently submitted a modified development application to the City of Gold Coast proposing enhancements to Tower 1 of The Landmark.&nbsp;

Taking a ‘rightsizing’ approach to its development strategy, Aniko Group has reconfigured the floorplate of the first tower, increasing its size from 784 sqm to 837 sqm and introducing an additional apartment per level.

“The refinements are designed to elevate the unique residential offering at The Landmark,” Mastrocostas said.

“They will allow us the opportunity to create coastal apartment living at a price point that simply doesn’t exist anywhere in the Mermaid Beach market.”

Aniko Group, which is currently undertaking construction of the $150 million <a href="/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island">Orama</a> apartment project at <a href="/new-apartments/chevron-island-qld-4217">Chevron Island</a>, has reaffirmed its plans to start construction of the first stage of The Landmark in the final quarter of 2024.

[smartcode_project_cta:default project_id=134338]

When completed, The Landmark will comprise three residential towers of 25, 30, and 40 storeys, as well as a 53-level tower featuring a mix of hotel suites and private hotel-branded residences

Aniko settle on $32.5 million Mermaid Beach The Landmark site

Prominent Malaysian developer OSK Property, the team behind the $2.8 billion Melbourne Square, has&nbsp;announced award-winning local artist Troy Emery as the winner of its art competition to design a new sculptural landmark in the city.

OSK Property hosted the competition to select the winning artist to design a visual gateway, which will connect Melbourne Square with its neighbouring arts precinct through a large-scale and visually striking sculptural artwork.

Acknowledging the site’s significant visibility from the Westgate Freeway and surrounding southeast locale, the artwork – which will feature prominently with its 18m x 15m design – aims to support the thoughtful curation of Melbourne Square’s placemaking, punctuated by Southbank’s focus on art, design and heritage.

Global art firm UAP (Urban Art Projects) – who OSK Property engaged as public art consultants for Melbourne Square – oversaw the entire competition process.

UAP put forward a selection of eight Melbourne-based artists whose creativity was synonymous with Melbourne’s renowned arts scene and those who could contribute a visionary and bold artwork to Melbourne’s skyline.

OSK Property then shortlisted three artists whose practices were diverse from one another, ensuring the final three concept designs would be highly unique.

After working with the three artists, UAP presented the three concept designs to OSK Property who selected Troy Emery’s ‘Guardian Lion’ to be commissioned due to its vibrancy, ability to engage with the site and representation of Melbourne’s rich tapestry of public artworks.

<img alt="Melbourne Square" data-entity-type="file" data-entity-uuid="d9e1464b-ceab-41f7-80af-cc913b173963" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-11%20at%205.51.51%20pm.png?VersionId=lc7BeiUBTgyWCwS7cGokTrNO_zFCNrZU" />

To be fabricated in UAP’s workshop, ‘Guardian Lion’ will stand as a reflection of Melbourne’s dynamic, creative community.

Emery, whose work examines the discourse surrounding human interactions within the natural world and has recently appeared at the National Gallery of Victoria, was a natural fit for the project’s ‘Together, in Nature’ ethos.

His winning concept, ‘Guardian Lion’, draws inspiration from traditional Chinese architecture and Japanese symbolism, whereby lions and dogs guard the entrances to shrines and signify strength.

Similarly, ‘Guardian Lion’ is seen to guard the grounds and people within Southbank, standing as a protector welcoming people to the city, akin to Richmond’s beloved Vinegar Skipping girl who has graced the skies of Victoria Street for generations of Melburnians to enjoy.

[smartcode_project:default project_id=107714 project_image_fid=211874]

Emery drew on Victorian folklore to embed the piece with Australian context, specifically referencing a Melburnian story of the ‘Grampians big cat’ – a mythical big cat living in the Grampians Mountains of regional Victoria.

“I want Guardian Lion to make people happy, to give people a sense of companionship as they travel through the area, like a friendly neighbourhood cat that greets passers-by," Emery said.

"Guardian Lion is a surrogate pet for the neighbourhood and for the city.

“One part of the brief that I particularly resonated with was the idea that Melbourne Square is a ‘gateway to the creative precinct.’ The NGV, Arts Centre, VCA, ACCA, and Malthouse Theatre are all close neighbours, and the work’s location is a gateway to the CBD, so I set out to design a figure that will welcome people to the area.

“This is such an incredible opportunity to contribute to the cityscape of Melbourne with a large-scale public artwork, and I’m excited to have my work join a library of so many great artworks around the city."

[smartcode_project:default project_id=2929 project_image_fid=255379]

Emery said the&nbsp;intense spectrum of colour in the work not only is an antidote to the greys and browns of the cityscape, but serves to reiterate the fantastical spectrum of the natural world, where the intense colours represent the magical qualities of life on earth.

OSK Property Australia’s CEO, Chong Boon Woon, said the artwork will create a Melbourne landmark to welcome visitors to the CBD.

“We are deeply inspired by the power of public art to transform spaces and communities. Our decision to commission 'Guardian Lion' for Melbourne Square is underpinned by our desire to contribute a long-lasting and meaningful piece to the vibrant cultural tapestry of Southbank."

Guardian Lion’s laser-cut aluminium fixture with LED flex lighting demonstrates an intense spectrum of colour that will be unmissable from those entering the city from the south or passing by on the Westgate Freeway.

[smartcode_project_cta:default project_id=107714]

Global art firm UAP (Urban Art Projects) – who OSK Property engaged as public art consultants for Melbourne Square – oversaw the entire competition process

OSK Property commission LED artwork at $2.8 billion Melbourne Square precinct

Brisbane's price per square metre record has been broken at the two-level penthouse atop Kangaroo Point's newest luxury apartment development, Sorano House.

The $14 million sale, to a local, represents an internal price per sqm of over $45,000, bettering the former record at&nbsp;<a href="/new-apartments/moray-house-65-moray-street-new-farm">Moray House</a>&nbsp;by&nbsp;<a href="/developers/spyre-group">Spyre Group</a>&nbsp;in <a href="/new-apartments/new-farm-qld-4005">New Farm</a>, which set the record at $35,000 per sqm late last year.

The two-level penthouse, with 311 sqm of internal living space, a 39 sqm balcony and a 333 sqm rooftop, is one of just seven apartments in the Hamilton Street development by&nbsp;<a href="/developers/trezetto-developments">Trezetto Development</a>.

<img alt="Sorana House" data-entity-type="file" data-entity-uuid="db8ce2d3-d295-443d-aed0-c6c23915d33b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-10%20at%202.04.36%20pm.png?VersionId=5LtUU6wja5zAqqHBFqkw.S8PneJY.6t7" />

Boasting 180-degree views of the Brisbane River and city skyline, the penthouse features four bedrooms, 5.5 bathrooms, multiple living areas, four-car accommodations and boasts approximately 70 metres of lineal frontage over two levels.

The penthouse’s private rooftop terrace occupies the top floor of the development and homes a private pool, spa, sauna, outdoor dining and firepit.&nbsp;

<img alt="Sorano House" data-entity-type="file" data-entity-uuid="18545e81-92bb-4745-ac4a-38f4265d64fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-10%20at%202.04.40%20pm.png?VersionId=crbTdKNK1339akHFdYwmthIr2ytcAuvi" />

Other features include a grand 5.5-metre kitchen island bench, a suite of Wolf, Sub Zero, and V-Zug appliances, and a travertine-clad lift lobby.&nbsp;

Trezetto Developments Managing Director, Sam Sgroi, said the unprecedented sale represented a “new age” of Brisbane’s luxury property market.&nbsp;

“The sale of the Sorano House Penthouse is a testament to the maturity of the prestige market in Brisbane and the value buyers are seeing in A-Grade locations which will never be repeated,"&nbsp;Sgroi says.

[smartcode_project:default project_id=6206 project_image_fid=231551]

<a href="/project-marketer/ypm-group">YPM Group</a>’s Project Sales Director, Phillip Rand - who sold the penthouse - said the purchaser had been looking to secure something unique, private and irreplaceable along the riverfront and had been searching for almost two years for the right property.&nbsp;

“The <a href="/new-apartments/sorano-house-kangaroo-point-12-hamilton-street-kangaroo-point">Sorano House</a>&nbsp;penthouse sale sets a new benchmark for new development in Brisbane,” Rand said.

“This record internal sales rate has not been seen before in the <a href="/new-apartments/brisbane-qld">Brisbane</a> market and is the kind of value akin to some of Sydney's premier and established waterfront suburbs.&nbsp;

"This sale will pave the way as a new benchmark for Brisbane's ultra-luxury market.”&nbsp;

[smartcode_project:default project_id=6206 project_image_fid=227100]

Sorano House occupies one of the last remaining riverfront addresses in the coveted and tightly held <a href="/developments/kangaroo-point-qld-4169">Kangaroo Point</a> peninsula.

The project officially went to market in October 2023 with great success, announcing four of the six whole-floor residences had sold, with an average price of $8.6 million, in the first 10 weeks of the campaign.

YPM Group Director, Bryce O’Connor said the successful sales campaign and record penthouse sale at Sorano House demonstrates that a shortage of quality product in premium locations will continue to drive Brisbane’s luxury market - and that construction security continues to be of utmost importance to purchasers.”&nbsp;

“We are excited to see Kangaroo Point progress as one of Brisbane’s most premium residential suburbs, setting record-breaking results usually reserved for projects in New Farm or <a href="/new-apartments/teneriffe-qld-4005">Teneriffe</a>," O'Connor said.

&nbsp;

Construction is well underway on site at Sorano House, with expected completion in early 2025. Sorano House is now 70% sold, with just two apartments remaining from $7.75 million.

[smartcode_project_cta:default project_id=6206]

Construction is well underway on site at Sorano House, with expected completion in early 2025

Sorano House, Kangaroo Point penthouse breaks Brisbane record

Brisbane townhouse developer Tocu Properties is switching it up in West End.

Tocu, who has been developing townhouses across Brisbane's inner-ring suburbs, is moving into the apartment market. They've had&nbsp;<a href="/architects/woods-bagot">Woods Bagot</a> draw up plans for a seven-level apartment development on the corner of Beesley and Filmer streets.

Tocu secured the six-lot amalgamation, totalling 1,648 sqm at 28 Beesley Street, in mid-2022. It was marketed as one of the last remaining infill development sites within the highly sought-after West End precinct.

<img alt="Tocu" data-entity-type="file" data-entity-uuid="9f2631ab-d7b6-4258-9e72-e303e2fccd31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-08%20at%202.55.00%20pm.png?VersionId=kmmVDJLDjORu2KAAqTiHkM1FwIhGBEPp" />

The proposal is for 42 two and three-bedroom apartments, 30 of which will have an additional multi-purpose room.

Crowning the building will be a 656 sqm rooftop amenity level with an infinity edge pool, hot and cold plunge pools, and open lawn and barbecue areas with views over Brisbane.

The Planning Report by Saunders Havill Group said the project represents an exciting opportunity to enhance the residential offerings in the vibrant <a href="/developments/west-end-qld-4101">West End</a> community, combining luxury living with the convenience of urban life.

"This development aims to cater to the growing demand for residential accommodation in the area, whilst providing a modern and comfortable living environment to suit the needs of its occupants and the community."

There will be 56 resident parking spaces, so every apartment has at least one parking space, and a further three visitor spaces.

<img alt="Tocu" data-entity-type="file" data-entity-uuid="2cc48d08-085a-48fb-a223-0db08cf3058b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-08%20at%202.57.20%20pm.png?VersionId=IG2lY_h_89Xdgx5YbKmnbrMUeHvhecfG" />

Tocu, led by developer Thomas Gray, has created several townhouse developments across Brisbane.

They were behind Fulcher Lane in Red Hill, completed a few years ago, while they are now working on&nbsp;The Archer Residences in Sherwood, 38 three and four-bedroom homes and townhouses at 60 Railway Terrace.

First look: Tocu Properties file West End apartment plans

Unit values in Melbourne grew significantly more than houses in the Victoria capital in March, property data analytics firm CoreLogic's recent data release found.

CoreLogic's Home Value Index found that Melbourne unit values rose 0.3 per cent in March, compared to the -0.1 per cent decline in houses.

Melbourne's median unit value, which incorporates both townhouses and apartments, is now $612,000. Over the past 12 months, <a href="/developments/melbourne-vic">Melbourne</a> unit values have risen by three per cent.

CoreLogic also found that Melbourne's gross rental yield rose significantly over the last two years, from 2.76 per cent to 3.57 per cent, driven predominantly by falling dwelling values and sky rocketing rents.

"A rise in rental yields alongside an expectation that housing values could rise and rental markets remain tight for an extended period is likely to be seen as an attractive opportunity for property investors," CoreLogic Research Director Tim Lawless said.&nbsp;

Lawless did note however that new investors entering the market may face cash flow losses unless they can provide a sizeable deposit, given the average investor mortgage rates are around the mid-six per cent range.

<h2>What happened in Melbourne’s off the plan apartment market in March?</h2>

News in March signalled more positive for the Melbourne off the plan apartment market.

Charter Keck Cramer once again highlighted the demand v supply imbalance that is coming for Melbourne. They said the market could jump anywhere between 25 to 30 per cent over the next 12 to 18 months across several sub-markets.

"Our analysis suggests that the established unit market (townhouses and apartments) will need to continue to reprice upwards (by around 15% to 20%) until the house price hierarchy is once again established," Charter Keck Cramer said.

"It is at this point that new off the plan apartments will be able to be delivered at price points which again make apartment development feasible."

Read more:&nbsp;<a href="/news/vic/new-apartment-projects-in-melbourne-at-lowest-levels-since-2010-market-to-turn-in-mid-2024-charter-keck-cramer">New apartment projects in Melbourne at lowest levels since 2010, market to turn in mid-2024: Charter Keck Cramer</a>

There were some signs of some more supply coming to the market, both now and in the future. Tim Gurner revealed his $1.7 billion <a href="/developments/docklands-vic-3008">Docklands</a> precinct <a href="/new-apartments/elysium-fields-208-226-harbour-esplanade-docklands">Elysium Fields</a>, which will bring a much-needed 1350 apartments to Docklands.

<img alt="Docklands precinct Elysium Fields" data-entity-type="file" data-entity-uuid="2d8209ae-60ec-4c49-8711-32fb474ee659" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/GURNER%20Elysium%20Fields.png?VersionId=7bkvOIUYNpMuydNB417dq_cPB.7Zv4BR" />

At Elysium Fields, residents will have access to some of the world’s most advanced anti-ageing protocols and equipment like cryotherapy, IV infusions, dry and infrared sauna, red light therapy, grounding and PEMF beds, alongside access to the Elysian Reverse Ageing Medical Clinic that will provide medical-grade treatments including MRIs, DEXA scans, brain scans, blood testing and personalised health plans.

Designed by <a href="/architects/fraser-partners">Fraser &amp; Partners</a>, GURNER™’s vision also includes over 3,700 sqm of much-needed immersive public landscapes and gardens that will connect residents with the natural world, inspired by the verdant buildings of Singapore that meld the built form with abundant greenery.

The first stage includes three towers totalling 640 dwellings, of which GURNER™ plans to launch the first tower, a build-to-sell offering with 231 apartments, in Q3 this year. Construction of the tower is planned for the same time.

<img alt="Docklands precinct Elysium Fields - Perspective" data-entity-type="file" data-entity-uuid="022e4bfd-7da0-4d13-bc23-83ef4f53f771" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/GURNER%20Elysium%20Fields%20Docklands.png?VersionId=qA6pqC_U2sL75vfrBPiA6cefHojY1CvE" />

Gurner also revealed that Chicago-based, international architecture firm <a href="/architects/som">SOM</a>, the architecture firm who designed the Burj Khalifa, the tallest building in the world, as well as the One World Trade Centre in New York, will design his St Kilda Road project, an $800 million mixed-use project facing Albert Park.

The St Kilda Road project will comprise around 200 apartments across 19 levels, with a focus on large two to four-bedroom apartments alongside retail spaces, food and beverage outlets, and extensive wellness amenities.

<img alt="Gurner St Kilda Project" data-entity-type="file" data-entity-uuid="ab1d5f15-e957-4b31-b081-60ded87ecfea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/424%E2%80%93426%20St%20Kilda%20Road%2C%20Melbourne_0.png?VersionId=qukD68DPeqMn5hc9AQIFMPq2BwFY6mka" />

A consortium of investors, led by billionaire James Packer, is set to create something different in <a href="/developments/balwyn-vic-3103">Balwyn</a>. To be developed by <a href="/developers/chapter-group">Chapter Group</a>, the company filed the plans for 31 apartments on the 3,862 sqm site at 23 Maleela Avenue, just set back from Whitehorse Road between Balwyn and <a href="/developments/deepdene-vic-3103">Deepdene</a>.

<a href="/architects/cera-stribley-architects">Cera Stribley</a> has put together plans, recently submitted to the Boroondara Council, for the low-rise, four-level building which will have a near 60-metre frontage to Maleela Avenue.

There will be 31 apartments across the four levels, 10 two-beds and 21 three-beds, of which 18 have completely different floor plans.

While those two projects are still in their planning stages, new projects are being launched by developers who are seeing pent-up demand for high-quality residential properties in Melbourne's inner suburbs.

National diversified property developer <a href="/developers/fortis">Fortis</a> has officially launched <a href="/new-apartments/wiltshire-house-richmond-1-wiltshire-street-richmond-vic-3121">Wiltshire House</a>, its new mixed-use development in the heart of Richmond.

Wiltshire House offers 57 one, two and three-bedroom apartments, as well as premium office space and a modern ground floor retail precinct ideally set just off Swan Street near East Richmond Station.

[smartcode_project:default project_id=13181 project_image_fid=256229]

While ideally located around the corner from the cafes, restaurants and bars <a href="/developments/richmond-vic-3121">Richmond</a> is famous for, Wiltshire House is also home to several resident amenities, including a landscaped rooftop with wellness facilities like a gym, yoga space, sauna, and showers.

Established Melbourne developer <a href="/developers/pace-development-group">Pace</a> also unveiled its latest residential development, <a href="/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy">Fabbrica Fitzroy</a>, in March.

Fabbrica Fitzroy offers 78 one, two, and three-bedroom apartments, including townhouses with street frontage, tailored to the preferences of owner-occupiers and downsizers.&nbsp;

[smartcode_project:default project_id=139552 project_image_fid=240744]

Award-winning architectural practice <a href="/architects/sjb-architects">SJB</a> has integrated the industrial past of the site into Fabbrica's dynamic future, creating exterior and interior spaces that connect with the contextual fabric and character of <a href="/developments/fitzroy-vic-3065">Fitzroy</a>.

Pace took an adaptive approach to the project, responding to shifts in the market. The focus on owner-occupiers became paramount, leading to a redesign that increased apartment sizes and catered to downsizers.&nbsp;

The development provides a deliberate emphasis on larger apartments and offers personalisation options for residents.

There was success at the launch of&nbsp;2135 Point Nepean Drive in Rye last month, one of the first new developments in the Mornington Peninsula locale for decades.

Jellis Craig Projects secured several sales on behalf of Melbourne developer Curtis York, who had Cera Stribley design a boutique development across the road from Rye Beach and in the heart of the village.

[smartcode_project:default project_id=138483 project_image_fid=253202]

Jellis Craig Projects Director Stephen Bowtell says buyers have primarily come from the Metro Melbourne area.

"There's an unrealised market which 2135 taps into and that's city dwellers who want to weekend on the Mornington Peninsula but don't want the space or the maintenance an acreage offers," Bowtell says.

"Acreages offer privacy and space, but there are a large number of those who are wanting to spend the weekend down on the Peninsula and want to be next to the beach, Rye's retail strip, and the Yacht Club, which is what 2135 is bringing to the table."

We have news from Tim Gurner, PACE, billionaire James Packer, and a new project in Rye which hit the mark

City Beat April 2024: Melbourne unit market outperforms houses in March

Much like neighbouring Brisbane, the Gold Coast unit market won't be slowed down.

Following similar supply demand metrics to the Queensland capital, the Gold Coast unit market posted another strong gain in March, according to property data analytics firm CoreLogic.

CoreLogic's Monthly Home Value Index showed Gold Coast units, which incorporate both townhouses and apartments, rose in value by 1.1 per cent over March to be 2.8 per cent up in 2024.

The median value of units on the Gold Coast is now at $749,000, higher than both <a href="/new-apartments/brisbane-qld">Brisbane</a>&nbsp;($587,000) and <a href="/new-apartments/melbourne-vic">Melbourne</a>&nbsp;($612,000).

<h2>What happened in Gold Coast’s off the plan apartment market in March?</h2>

Data from <a href="/project-marketer/colliers">Colliers</a> released in March showed the average price for new <a href="/new-apartments/gold-coast-qld">Gold Coast</a> apartments has reached $1.6 million for the first time, indicating a significant increase from previous quarters.

While the number of new apartment sales in the December quarter was relatively low compared to previous years, the average price per apartment saw a notable increase.

Owner-occupiers accounted for 55 per cent of the sales in the quarter, reflecting a resurgence in this segment of buyers.&nbsp;

Read more:&nbsp;<a href="/news/qld/gold-coast-apartment-prices-hit-record-highs">Gold Coast apartment prices hit record highs</a>

March also saw developer <a href="/developers/aniko-group">Aniko Group</a>&nbsp;refine the masterplan for its flagship $2 billion mixed-use development, <a href="/new-apartments/the-landmark-mermaid-beach-14-seaview-avenue-mermaid-beach-qld-4218">The Landmark</a> at <a href="/new-apartments/mermaid-beach-qld-4218">Mermaid Beach</a>.

They want to accommodate the "escalating demand for affordable luxury living in the beachside suburb by trying to target the rightsizing demographic."

They say it's a segment of the market that has been overlooked by developers in the Gold Coast’s prime beachside suburbs in recent years.

<img alt="The Landmark Mermaid Beach" data-entity-type="file" data-entity-uuid="3e2ec66f-8958-4880-a60f-0dbc7d8da751" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aniko%20Group%20The%20Landmark.png?VersionId=P0x49dGyCKGGigo_mGX_Qa_MHL50t5Rv" />

The amended development application seeks to increase the height of Tower 1 from 30 to 35 storeys, accommodating 240 apartments, up from the 170 currently approved, bringing the entire masterplan to a total of 891 apartments.&nbsp;

Last month also saw a record sale at&nbsp;<a href="/new-apartments/holm-rainbow-bay-44-50-eden-avenue-coolangatta">Holm Rainbow Bay</a>&nbsp;by <a href="/developers/chapter-two">Chapter Two Group</a>. They sold a two-level penthouse for $4.5 million to a Sydney buyer.

[smartcode_project:default project_id=109905 project_image_fid=209083]

Chapter Two Director Jon Quayle believed this transaction is the highest square metre rate achieved for a non-waterfront or front-row apartment in the sought-after enclave. The 246 sqm apartment represented an internal price per sqm of $24,590.

The penthouse will feature three bedrooms, two decks, and a rooftop terrace with outdoor dining and a spa.

Read more:&nbsp;<a href="/news/qld/rainbow-bay-penthouse-sold-for-record-price-per-sqm">Rainbow Bay penthouse sold for record price per sqm</a>

One of the northern Gold Coast’s most prolific developers, <a href="/developers/lewis-land-group">Lewis Land</a>, has fast-tracked the release of the first home collections within its <a href="/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a> master-planned community in an attempt to meet the soaring demand in the <a href="/new-apartments/runaway-bay-qld-4216">Runaway Bay</a> catchment, one of the most undersupplied markets on the Gold Coast.

[smartcode_project:default project_id=113271 project_image_fid=214288]

Lewis Land Chief Executive Office Brett Draffen said Harbour Shores would deliver more than 2,000 dwellings to the Runaway Bay catchment over the next decade.

“The first residential releases at Harbour Shores will be launched on 15 April and includes a collection of waterfront villa residences, two mid-rise residential apartment buildings, and early delivery of the large community park,” Draffen said.&nbsp;

Read more:&nbsp;<a href="/news/qld/lewis-land-to-launch-harbour-shores-first-house-release-in-undersupplied-runaway-bay-catchment-area">Lewis Land to launch Harbour Shores first house release in undersupplied Runaway Bay catchment area</a>

&nbsp;

There were two new Gold Coast apartment developments that launched in March, targeting the luxury end of the market.

Family-owned builder developer Xsite Group has revived its plans for its recently launched luxury beachfront apartment tower, <a href="/new-apartments/arc-residences-northcliffe">Arc Residences</a>, on Surfers Paradise's most sought-after beachfront strip.

[smartcode_project:default project_id=111652 project_image_fid=257249]

The 25-level <a href="/architects/mpa-architects">Mosca Pserras Architects</a>-designed building will home 39 high-end half and full-floor three and four-bedroom apartments overlooking the popular Northcliffe Beach, which start from just shy of $4 million.&nbsp;

Two levels in the building have been reserved solely for resident amenities such as a beachfront pool, private dining facilities, work-from-home office space, a cinema room, designated dog wash, and a wellness hub with a gym, sauna and treatment room.

Developer&nbsp;<a href="/developers/ature-group">Ature Group</a>&nbsp;also launched their first&nbsp;Gold Coast high-rise tower,&nbsp;<a href="/new-apartments/sola-158-surf-parade-broadbeach">Sola</a>&nbsp;in Broadbeach. That will comprise just 20 full-floor apartments starting from $2.75 million.

Each 219 sqm apartment, which has private direct lift access, has three bedrooms, with the option to customise the space with the ability to add a fourth bedroom, office retreat or even a wine room.

[smartcode_project:default project_id=108324 project_image_fid=228359]

Building work got underway at&nbsp;<a href="/new-apartments/perspective-nexus">Perspective Nexus</a>, the new Palm Beach apartment development by&nbsp;<a href="/developers/sherpa-property-group">Sherpa</a>&nbsp;.

<a href="/builders/lps-group">LPS Group</a> will be constructing the new&nbsp;nine-level project will deliver a collection of 32 apartments, including two half-floor penthouses and three sky homes with private rooftops.

The construction start comes on the heels of Perspective Nexus achieving sales of over 50 per cent of apartments worth a total of $65 million, with Gold Coast locals having driven the majority of sales.

What happened in Gold Coast’s off the plan apartment market in March?

City Beat April 2024: Gold Coast unit market continues to outperform East Coast capital cities

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."

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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.

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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>.

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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.

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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."

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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.

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<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.

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Joel Robinson

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