<a href="/developers/consolidated-properties">Consolidated Properties Group</a> has completed the first stage of construction on <a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a> – the largest new apartment project in Brisbane’s western suburbs.

One of the two towers in the Coronation Drive project in <a href="/developments/toowong-qld-4066">Toowong</a> is approaching a sellout, with $300 million in sales across the whole development to date.&nbsp;

<a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a>, which is being delivered by Consolidated Properties Group with funding partner Qualitas, was named Brisbane’s best performing project in the latest Urbis report, with the highest number of apartments sold in the July and September quarters.

<a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a> is positioned on a 1.2-hectare site on the riverfront in <a href="/developments/toowong-qld-4066">Toowong</a> and upon completion will deliver 224 apartments and penthouse residences across two buildings.

[smartcode_project:default project_id=113455 project_image_fid=211466] 
&nbsp; 
Residents will have access to a suite of facilities including a riverside pool, gym and sauna, and an expansive rooftop terrace with dining and entertainment areas.

The <a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">$450 million development</a> recently bottomed out with earthworks complete to basement level, paving the way for both towers to start coming out of the ground first half of next year.&nbsp; 
&nbsp; 
With towers River 1 and River 2 being built concurrently, it’s anticipated construction of the whole project will be complete by the end of 2025.&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211467] 
&nbsp; 
<a href="/developers/consolidated-properties">Consolidated Properties Group</a> Chairman and CEO Don O’Rorke said work is ahead of schedule due to strong demand from buyers seeking larger riverfront apartments, and the capability of Hutchinson Builders.

“<a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a> is one of Brisbane’s most sought-after addresses, with Urbis data showing this project has accounted for a third of all apartment sales in the city over the past six months,” he said.

“Sales have really gained pace in the lead up to Christmas, as people look ahead to the new year and consider their property and lifestyle aspirations. 
&nbsp; 
“River 2 now has less than 10 residences remaining for sale, all of which are home-size three- bedroom floorplans, with prices starting from $1.875 million."

WATCH:&nbsp;<a href="/news/qld/why-owner-occupiers-have-embraced-consolidated-properties-groups-monarch-residences-in-toowong">Why owner-occupiers have embraced Consolidated Properties Group's Monarch Residences in Toowong</a>

O'Rorke says the development has&nbsp;been so successful because it is unique in terms of both its location on the riverfront surrounded by expansive public parkland, and its offering - with residences created by the best in the business – <a href="/architects/john-wardle-architects">Wardle</a> and <a href="/architects/cottee-parker-architects">Cottee Parker Architects</a>.&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211495] 
&nbsp; 
“As the towers start to come out of the ground, I expect interest will ramp up even further, as prospective buyers will be able to see the project taking shape.”&nbsp; 
&nbsp; 
Hutchinson Builders Chairman Scott Hutchinson said the construction site was already a hive of activity, with more workers expected to come on board as the towers stretch skyward.&nbsp; 
&nbsp; 
“We currently have a workforce of about 200 tradies on site, but this will increase to about 400 during peak construction phases,” he said.&nbsp; 
&nbsp; 
“Most of our tradies are local to South-East Queensland, so a project like this is an exciting opportunity to be part of creating what will be a landmark community for Brisbane.”

[smartcode_project_cta:default project_id=113455]

One of the two towers in the Coronation Drive project is approaching a sellout, with $300 million in sales across the whole development to date

Joel Robinson

Hutchinson completes earthworks at Consolidated Properties' Toowong apartment development, Monarch Residences

Roy Skaf's Macquarie York is set for another Surfers Paradise apartment development.

They've submitted plans for a 17-level tower at 50 Sunrise Boulevard, on the Nerang River and facing Chevron Island's famous Home of The Arts building.

The Plus Architecture-designed tower on a 1,057 sqm riverfront block will have 43 apartments, a mix of 28 two-beds, 14 three-beds, and a four-bedroom, three-level penthouse.

There will be just three apartments per floor, a 96 sqm two-bed, a 106 sqm two-bed with study, and a 129 sqm three-bed with a study, up to level 15.

The subpenthouses and penthouse starts at level 16. One of the subpenthouses has 200 sqm, while the three-level penthouse has three-bedrooms and an MPR on the first level, the main kitchen living and dining space and a guest bedroom on the second level, and then a rooftop with a pool, firepit area and outdoor kitchenette with a dining space.

Each unit will have at least one car space.

<img alt="Macquarie York" data-entity-type="file" data-entity-uuid="29733039-5753-4d07-9bdb-1f93b1cbb4d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%2010.18.58%20pm.png?VersionId=ePGzNnBphgGPuhj3s8qFzVwEip55Z713" />

Plus Architecture, led locally by Danny Juric, says the project has been "meticulously designed to seamlessly blend with its urban and natural surroundings, achieving a harmonious balance between the human-scale streetscape, riverscape, and the emerging skyline."

"The building is thoughtfully divided into podium and tower forms, strategically set back from the street, layered with a pronounced emphasis on horizontality, fostering a human-scale interaction with the street and river," the design submission read,

"The podium is enhanced with landscaping and warm, earth-toned materials, anchoring the development and providing a strong connection with its environment.

"Surrounding the entry, podium, and recreation spaces is extensive landscaping, creating a natural and inviting environment that further grounds the building. The integration of greenery extends upward, softening the building’s presence throughout its height."

<img alt="Macquarie York" data-entity-type="file" data-entity-uuid="96c707ed-ed8d-4439-94ee-b575edfc375e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%2010.19.14%20pm.png?VersionId=FaG1qEFEbNp7ZIDw0U7bjtByq7M5tiEE" />

The resident amenity is located on level two and will feature a swimming pool, fire pit area, barbecue space, day beds, gym with a sauna and steam room, work from home space with desks and a boardroom.

The tower features&nbsp;light-colored concrete with horizontal articulation which Plus says is reminiscent of the Australian beach shack.

Full-height glazing gives residents views&nbsp;to the river and hinterland in the west, as well as Surfers Paradise and the expansive coastline to the east. Balconies at the building’s ends are curved, minimizing visual impact and drawing inspiration from the natural language of the rippling surface of the river, Plus say.

<img alt="Maaqjuarie York" data-entity-type="file" data-entity-uuid="c6db01db-23d8-43f3-b9ab-1500379fb39b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%2010.19.31%20pm.png?VersionId=luszikqBJELuYWfYO1B3yhpc7kJGdHBm" />

Town Planner UPS said their assessment finds that the proposal is in keeping with the intent of the City Plan and responds positively to the relevant assessment criteria.

Overall, it is concluded that the proposed development represents a logical and desirable form of land use, and a built form which is respectful of, and complementary to, the established and prevailing character of the surrounding area."

Macquarie York recently completed the Allure building on Chevron Island, where they're also to relaunch their formerly named development Nina. The new tower, NERA, has a few design changes.

They've submitted plans for a 17-level tower at 50 Sunrise Boulevard, on the Nerang River and facing Chevron Island's famous Home of The Arts building

"Reminiscent of the Australian beach shack": First look at Macquarie York's newest Surfers Paradise apartment development

The $500 million redevelopment of <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> is one step closer, with the City of Gold Coast Planning and Environment Committee giving a unanimous yes in favour of the development application.

They will forward the recommendation to approval at a full council meeting on December 4.

The committee's overwhelming support comes after extensive collaborative planning with the state and local government, as Makris Group seeks to transform the Southport Spit in line with the vision of the Spit Master Plan.

Read more:&nbsp;<a href="/news/qld/inside-look-residential-opportunity-at-new-500-million-marina-mirage-main-beach-redevelopment">Inside look: Residential opportunity at new $500 million Marina Mirage, Main Beach redevelopment</a>

<img alt="Marina Mirage" data-entity-type="file" data-entity-uuid="ca2a4e53-80a1-4d6d-abf2-f639279995d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%2010.36.16%20pm.png?VersionId=7R4UCud5g2SIYaWMhkmnHG658u9hLPEg" />

The project delivers a significant economic impact of 500 direct jobs during construction and 460 direct and indirect jobs during the operational phase, adding to the growth of the Gold Coast economy.

Makris Group lodged an impact assessable development application with the City of Gold Coast in February 2023 after undertaking years of design refinement to deliver a timeless and vibrant development that harmoniously connects with land and place.

The project renders show a considered biophilic design by globally acclaimed architects Elenberg Fraser, who were appointed designers of the iconic development after winning a national architecture competition.

The existing <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> shopping centre, and its recently completed 78-berth superyacht marina, is still in full operation and located within the Spit Master Plan which outlines a vision to revitalise the area into an ecological tourism, recreation and leisure destination. The proposed Makris Group redevelopment aligns with these aspirations through enhanced public areas, and low-rise form, ensuring the striking 
marina landscape remains central to the precinct.

<img alt="Marina Mirage" data-entity-type="file" data-entity-uuid="c571653e-3a1a-4163-ad72-f73eab86d1d5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%2010.35.36%20pm.png?VersionId=KjX9VjS2pxQxZPS7XtC1KnqF2fuTKIHi" />

While adopting a style to align with the Spit Master Plan, the development proposes an innovative mix of elements to elevate the outdoor lifestyle which the Gold Coast is loved and renowned for. Makris Group was established in 1988 in South Australia by Con Makris, who expanded his portfolio into Queensland with the purchase of the iconic Marina Mirage after recognising the significance of the site and 
its unique position.

Con Makris, Executive Chairman of Makris Group, said&nbsp;<a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> is unique to Australia's east coast and is the most prominent parcel of land on the Spit.

"Our proposed redevelopment embodies a long term and responsible strategy to deliver a sustainable asset that benefit both present and future generations."

With the impending development approval, Makris Group looks forward to moving ahead with its construction plans, engaging in early contractor discussions with Hutchinson Builders.

Makris Group has been supported by a large and strong team of local consultants, the City of Gold Coast and wider community for more than three years; with a shared desire to see a sustainable transformation of <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a>.

"With State support, the Gold Coast is now well positioned to embrace our exciting, multifaceted world- class development - a true national asset," Jason Makris, Chief Executive Officer of Makris Group, says.

"Over the next few months, we will be finalising the realisation of our <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> vision. As we approach this milestone, <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> proudly celebrates 35 years of providing award-winning waterfront dining and boutique shopping. Let's continue to support and appreciate the offerings <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> brings to our community and visitors."

Once all necessary approvals are secured, the <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> redevelopment aims to be fully realised in 2027 well in advance of the eagerly anticipated 2032 Olympic Games.

<h3>Key features of the Marina Mirage redevelopment:</h3>

 
- Makris Group is in the final stages of an agreement with one of the world's largest boutique hotel brands to deliver more than 110 resort rooms that permeate a strong sense of place 
- Building on the success of the waterfront dining experience at <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a>, a selection of world- class restaurateurs has been carefully curated to further enhance the culinary offering 
- Wellbeing and rejuvenation will be a central theme of the mixed-use development, complimented by a hand-picked selection of Australian retail boutiques. 
- For the first time, <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> will offer a limited collection of timeless residences and villas which combine understated luxury with contemporary Australian design 
- The development will maintain the signature <a href="/new-apartments/marina-mirage-74-seaworld-drive-main-beach">Marina Mirage</a> sails, which can light up for various causes and events

The committee's overwhelming support comes after extensive collaborative planning with the state and local government, as Makris Group seeks to transform the Southport Spit in line with the vision of the Spit Master Plan

$500m Marina Mirage development gets support from council before December decision

Burgeoning Sydney developer Billbergia has unveiled updated plans for its Bennelong Cove project, the final stage of the award-winning 11-hectare master-planned community at Wentworth Point in Sydney’s inner-west.

After years of strategic planning, a two-stage international design competition and on-going community consultation, an updated scheme by FJC Studio has been submitted for public exhibition by the NSW Department of Planning and Environment.

Comprising two residential towers of 40 storeys, the proposed development will deliver around 900 apartments.

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="5e83db48-5985-4b49-9cb8-531c88674e89" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%209.45.50%20pm.png?VersionId=qpl6_THDlEsi80.1Sg4PbHqNawOzQGW6" />

The proposal also incorporates a waterfront promenade with amphitheatre, restaurants, cafes and a registered club and pub to activate the foreshore promenade with a major new park in the heart of the town centre. It’s accompanied by $70 million in new community and social infrastructure, under a Voluntary Planning Agreement submitted to City of Parramatta Council.

Subject to council approval, Billbergia has committed to new community infrastructure including a $36 million multi-purpose indoor sports and recreation centre, with outdoor courts, a 16,000 square metre park and foreshore promenade with picnic areas, play spaces and exercise areas, and a council-owned 90-place child care centre.

Billbergia has also committed to a second privately operated 90-place childcare centre and continued funding to operate the widely popular free Baylink shuttle bus service that connects residents to Rhodes station. Boasting more than 14,000 weekly passenger trips, the bus service has recently been upgraded to fully electric vehicles would operate under the agreement until the anticipated delivery of the Parramatta Light Rail in 2031.

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="a4127586-f415-410c-bd25-2d74ba47d74a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%209.45.15%20pm.png?VersionId=JwgRxH3LC3JN39L4rspY8ZbmLCdEfU2F" />

The new proposed scheme is based on feedback from both Council and the community.

Saul Moran, Development Director of Planning and Design at Billbergia, said they've collaborated with the architects and an independent design excellence jury to address feedback on the earlier scheme.

"As a result, residential buildings are set back further from the water and have been reduced in height - consistent with the nearby Sekisui Sanctuary development,” Moran says.

“Billbergia has been involved in the Wentworth Point community for more than 15 years. In that time we’ve seen the transformation of the suburb from an underutilised former industrial site in 2008, to the thriving residential community it is today.

"Bennelong Cove is the critical final stage that will see the entire waterfront promenade activated and provide enhanced community infrastructure alongside the delivery of critically-needed new housing supply."

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="56e7172b-fd27-488c-a040-45166316f401" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%209.45.01%20pm.png?VersionId=RMO495ZXUt95_hBPUsSblWRj0OVfQswq" />

According to Moran, Billbergia has placed strong emphasis on place-making and resident amenity in addition to delivering the necessary infrastructure for the growing suburb.

“Community feedback has shown us that more social and sporting infrastructure is also high on residents’ wish lists, revealing the value they place on waterfront access. We see the delivery of an activated foreshore promenade with greater open space and new leisure facilities as critical to this,” Moran added.

Wentworth Point was first rezoned for residential use in 2004 and declared a Priority Precinct in 2014. During this time it has grown to an estimated population of 14,500 people.

<img alt="Billbergia" data-entity-type="file" data-entity-uuid="c2fab5b9-7f18-428c-b34f-7a2ebc15bff6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-23%20at%209.45.22%20pm.png?VersionId=Q3uioMnTwEdwCj50fQp.rAjxj5W6g655" />

The growing community has been supported by significant public and private sector investment in community infrastructure resulting in the delivery of a primary school with a high school currently under construction, as well as a community centre and a library facility. In addition to new transport infrastructure, a medical centre and a neighbourhood shopping centre have also been delivered for the Wentworth Point community.

The Liveability Index rated Wentworth Point’s community and employability among the highest of all suburbs.

“Wentworth Point is a nationally-awarded showcase in urban regeneration and transport-oriented development. Our growing community is diverse and engaged, living in an affordable lifestyle precinct with easy access to retail, dining, education, health, sporting, and public transport,” Moran said.

Billbergia recently filed plans for a <a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development">two-tower development in Chatswood</a>.

Comprising two residential towers of 40 storeys, the proposed development will deliver around 900 apartments

Billbergia unveils updated plans for Bennelong Cove, Wentworth Point masterplan

National developer Urbex is approaching the sellout of its luxury Manly residential development, The Wellington Collection.

They've sold out each of the six apartments in the Wellington Street building, leaving just two townhomes remaining for sale. The last apartment in the building sold for $2.6 million.

Scaffolding is expecting to come down in the next few weeks, with construction slated for early next year.

[smartcode_project:default project_id=113253 project_image_fid=207573]

“Manly already has significant value in its lifestyle offering, so it was important for any project introduced into the suburb to hit the mark with trade up or down owner-occupiers from interstate, the Sunshine Coast and Brisbane,” Craig Covacich, General Manager of Urbex Realty, said.

Covacich said the slowdown in the real estate sector off the back of interest rate hikes has not mitigated the severity of an undersupplied housing market, magnified by the turbulence developers have had to navigate to deliver their projects.

"Supply chain and labour cost issues have placed many builders and developers in financial distress, some of which have collapsed, and consumers are cautious when purchasing off the plan,"&nbsp;Covacich said.

[smartcode_project:default project_id=113253 project_image_fid=207574]

Urbex has its own building division, JMac Constructions, which&nbsp;Covacich says provides a&nbsp;point of difference and grants the business a level of resilience and flexibility.

Covacich believes the townhouse model may also be a solution to the high demand given the housing supply crisis in South-East Queensland.

“With the rise in the population in Queensland and changes to what consumers want in their homes, there is a shift in what the ‘Australian dream’ home looks like. In the past, this was a large block, four-bedroom house and a big backyard. Many are opting for building upwards, rather than outwards, and cutting out the fourth bedroom and investing those saved funds into shaping the urban space and amenities within the dwelling."

The Wellington Collection’s remaining two townhomes span over 460 sqm internally and have three bedrooms, a multi-purpose room, three car spaces, a workshop, an internal lift, and a private plunge pool.

[smartcode_project_cta:default project_id=113253]

Scaffolding is expecting to come down in the next few weeks, with construction slated for early next year

The Wellington Collection approaches sellout as construction advances toward completion

Prominent developer Third.i has completed construction of one of its most luxurious projects to date.

They've finished the build of <a href="/buildings/147-153-kurraba-road-kurraba-point">Kurraba Residences</a>, their high-end Kurraba Point apartment development of just 24 apartments, 21 of which have sold.

Just three penthouses remain, and are set to hit the market in the coming weeks.&nbsp;The penthouses have been designed to offer the same level of consideration and luxury as an elite private home, with the Phillip Mathieson-led Mathieson Architects handling the interiors.&nbsp;

[smartcode_project:default project_id=13992 project_image_fid=240217]

Buyers are now set to move into the SJB-designed by <a href="/buildings/147-153-kurraba-road-kurraba-point">Kurraba Road project</a>, which was built by Richard Crookes Construction.

There are two, three and four-bedroom apartments in the five-level building, which SJB Director Adam Haddow says will set&nbsp;new standards for&nbsp;<a href="/developments/kurraba-point-nsw-2089">harbourside living in Sydney</a>.

[smartcode_project:default project_id=13992 project_image_fid=240218]

“Embraced by foreshore gardens on all three sides, the architecture pays homage to classic 1920's apartment buildings that dominate the edges of the harbour. Sculpted in brick, the graceful building reaches out to the water like fingers on a hand,” Haddow said.&nbsp;

There's exclusive amenities and services reserved for residents, including a wine cellar room and dining area, a secure lock up garage with lift access, a concierge service, and a communal rooftop garden with BBQ facilities.

[smartcode_project_cta:default project_id=13992]

Buyers are now set to move into the SJB-designed by Kurraba Road project, which was built by Richard Crookes Construction

Third.i complete construction of Kurraba Residences

UDIA Award-winning developer Otello is bringing something different to Adelaide's growing inner-west area.

They've just launched Treno, a modern apartment and townhouse development in Mile End. The project will comprise&nbsp;31 apartments and townhouses on the western side of the CBD, across the road from Mile End Train Station and the picturesque 35-hectare Ellis Park.

[smartcode_project:default project_id=142023 project_image_fid=239075]

Polly Property's James Polacek, who is marketing Treno, says the project's location means it's a rare offering for two reasons.

"The prime location of Treno on Railway Terrace means future residents can't get closer to the park," Polacek says, adding while that alone is a unique selling point, it also adds another string to the bow of the project.

"Due of the proximity to the park and the train station, views encompassing the whole city aren't ever likely to be built out to the east because they're protected, while the zoning to the north and west now doesn't allow for anything to be developed higher than Treno, which means it's unlikely there will ever be anything blocking out those district views."

[smartcode_project:default project_id=142023 project_image_fid=239073]

Polacek is speaking to a lot of downsizers for the project, given it's weighted toward three-bedroom units.&nbsp;

The location is one of the biggest drivers to the project, Pollacek says. The proximity to the train station is suiting those wanting to connect with , while the proximity to Gladys Elphick Park is attracting the active downsizer.

The apartments have been designed by Studio Nine Architects to offer buyers a variety of floorplans. There are three different floorplan configurations for the three-bedroom apartments and three for the penthouses.&nbsp;

[smartcode_project:default project_id=142023 project_image_fid=239075]

The townhouses too have three bedrooms, as well as multiple living areas and balconies which provide direct views of the parkland and the city.

GurnerTM's $1 billion game-changing precinct in Adelaide will also be the first building on the other side of the park, around a kilometre away. That will bring significant hospitality to Adelaide.

There's a number of infrastructure changes coming to Mile End, such as the new state funded women's and children's hospital and some supporting medial industries, which&nbsp;Polacek says will drive a lot of growth in the inner west.

[smartcode_project:default project_id=142023 project_image_fid=239103]

Otello, who has previously developed five modern townhouse developments across Adelaide previously, is joint venture partnering with the builder, so they're invested in the build process of Treno too, which makes for a more cost effective build and accurate construction timeline.

Apartments at Treno start from $629,000. The project is slated for completion in early 2025.

[smartcode_project_cta:default project_id=142023]

&nbsp;

Polly Marketing's James Polacek, who is marketing Treno, says the project's location means it's a rare offering for two reasons

Otello launch new Mile End apartment development to tight Adelaide market

Fresh off the back of relaunching its luxury Kangaroo Point apartment developer Skye Residences, Brisbane developer Pikos Group is preparing to re-work its other project in the in demand riverside suburb.

They've applied to redesigned their Lambert Street, Kangaroo Point project, creating a full acre of inner-city parklands in the process while also&nbsp;improving building efficiency, river views, and community amenity.

The 5,284 sqm site is now being earmarked for two 15-level towers with 214 one, two and three-bedroom apartments stretching between the&nbsp;Brisbane River and Lambert and O’Connell Streets.

<img alt="Pikos" data-entity-type="file" data-entity-uuid="e8984f43-cd5c-4787-918a-ffd0224be633" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%201.19.22%20pm_0.png?VersionId=VpQM0NfhJ8zZ_FXzPdRvB6.DpAK1up5o" />

“After working closely for several months with key consultants, Brisbane City Council, and builder partners to understand delivery costs and timeframes for the current development, we have decided to progress a redesign of the project,” Pikos Group Managing Director Pedro Pikos said.

“Pikos Group is now proposing to redevelop the site into a private riverside community-focused enclave that celebrates socially-conscious living, centred around over 4,000 sqm leisure inspired naturescape that will transcend inner urban living.

“With over an acre of terraced landscaping, it will be the largest private riverside park in Brisbane."

Pikos says the new design will&nbsp;consolidate the number of buildings from three to two, allow them to significantly open the ground plane for the delivery of greater privacy, multiple leisure activities and connectivity between the residential galleries, wider neighbourhood and the Brisbane River.

<img alt="Pikos Brisbane" data-entity-type="file" data-entity-uuid="b58187ad-ef87-4b0c-aa5f-5ed83e026f3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%201.19.32%20pm.png?VersionId=FBlhzNmuDCVIodzHCqQVCa7n8lDzWJUn" />

The apartments will be defined by a series of soft curves echoing the Brisbane River and strong overtones of Queensland architecture. They will include a high level of luxury finishes including natural limestone kitchen benches and tiling, V-ZUG appliances, customised engineered timber floors, feature lighting and ducted air-conditioning.

More than 20 nature and leisure zones will incorporate a three-tiered aquatic leisure pool, wellness centre with infrared sauna and heated spa, outdoor lounges, meditation spaces, outdoor kitchens and dining rooms, terraced BBQ areas, outdoor gym, outdoor cinema and dog park.

The development will also include 1077sqm of private rooftop gardens, 384 resident and visitor carparks, 9 EV charging stations and 268 bicycle racks.

Pikos have also undertaken with Brisbane City Council to extend the Riverwalk at the development site to provide pedestrian river promenade connection to the city and the Docklands City Cat Ferry Terminal.

Pikos Group CEO Michelle Wooldridge said the project would redefine luxury riverfront living in Brisbane.

“Pikos Group is committed to developing world class projects in Brisbane’s most iconic locations," Wooldridge said.

"Our newest project continues the tradition, delivering an unrivalled living and leisure experience on the last undeveloped riverfront site in inner-city Brisbane."

Subject to approval, Pikos Group aims to commence construction in 2024 with an estimated completion in mid-2027. The developer is progressing discussions with several builders, with an announcement due in the coming months.

Existing buyers of the formerly named La Storia project will be offered first access to new residences prior to being released to market, with the option of a fully refunded deposit if they choose not to proceed.

The 5,284 sqm site is now being earmarked for two 15-level towers with 214 one, two and three-bedroom apartments stretching between the Brisbane River and Lambert and O’Connell Streets

First look: Pikos redesigns Kangaroo Point apartment development, creating one acre of inner-city parkland

Western Australia has become the epicentre of property investing in Australia.

That's the view of&nbsp;Mike Mortlock, managing director of MCG Quantity Surveyors, who has seen remote investing accelerate in 2023, namely due to the significant investment made in the Western Australian property market.

The company’s latest analysis of their client data showed the average distance between where landlords live and where they invest has reached a staggering 1502 kilometres to date in 2023.

“This is a substantial uptick on last year’s result and shows that buyers are incredibly mobile when it comes to securing a desirable property investment," Mortlock says.

This year’s outcome is a near doubling of the same analysis in 2022 which showed an average of 857 kilometres between a landlord’s home and investment.

It’s been an ongoing theme according to the numbers. To the end of 2021, the distance was 559 kilometres. Before that in pre-pandemic times, the remote investing distance was 294 kilometres to January 2020.

Mortlock says WA is now considered among the nation's most investor-friendly jurisdictions.

"There's little doubt its popularity with real estate buyers from the east coast has increased the gap between home and investment," Mortlock says.

“Western Australia, and more specifically Perth, has seen a substantial uptick in investor participation. Price is a factor as some big capital city markets are now beyond the reach of everyday buyers. Our analysis shows the average price an investor pays for a property is approximately $615,000. That amount will go a lot further in Perth than it will in Sydney or Melbourne."

That investor interest is only likely to be heightened by the announcement of <a href="/new-townhouses/burswood-point-saintly-entrance-burswood">Burswood Point</a>, the $3.8 billion masterplanned <a href="/new-apartments/burswood-wa-6100">Burswood</a> precinct by developer Golden Sedayu.

[smartcode_project:default project_id=142314 project_image_fid=228355]

The mega project, which will transform the peninsula with 4,500 homes and apartments as well as office and retail space, is expected to be a hit with both local, interstate, and overseas investors who are looking to take advantage of the rarity of such a project at its earliest stage.

The project is set to inject more than $10 billion into the state’s economy and generate 25,700 West Australian jobs over the next 10 years.

[smartcode_project:default project_id=142314 project_image_fid=228353]

Managing Director of Golden Sedayu Andrew Sugiaputra said after years of careful planning, he was thrilled to reveal their vision for this city-defining project.

“At 38 hectares, <a href="/new-townhouses/burswood-point-saintly-entrance-burswood">Burswood Point </a>is one of the largest urban development projects ever undertaken in Australia, and certainly the most ambitious mixed-use redevelopment currently underway in Perth,” Sugiaputra said.

“With its dress circle position across from the Perth CBD, Burswood Point is set to become a destination in its own right – home to a range of premium tourism and recreational facilities, including markets, riverside parks, a shopping centre and luxury hotel."

Golden Sedayu are currently taking early enquiry on the project, which will see the first homes and apartments go on sale early next year.

[smartcode_project_cta:default project_id=142314]

Investor interest is only likely to be heightened by the announcement of Burswood Point, the $3.8 billion masterplanned precinct by developer Golden Sedayu

Western Australia: The epicentre of property investing in Australia

The age old adage is that the apple doesn't fall far from the tree.

That's the case at <a href="/developers/central-element">Central Element</a> (CE), the family-ran apartment developer who are venturing into the "ultra-luxury" in some of Sydney's best suburbs.

In the last few months they've announced development approval for the redevelopment of the <a href="/news/nsw/central-element-green-lit-for-coogees-ballamac-house-apartment-redevelopment">1860s Ballamac House in Coogee</a>, and an architecturally significant building on Hyde Park, while they also secured an <a href="/news/nsw/central-element-secure-prized-bondi-beach-site-for-new-apartment-development">arguably unrepeatable site in Bondi Beach</a>.

The three developments are likely to set not only new benchmarks for the suburb, but also for CE.

<a href="/developers/central-element">Central Element</a> Managing Director Nathan Chivas says&nbsp;setting new benchmarks in property development has been in Central Element’s DNA for decades.

"It was something my father always did in his development days," Chivas says. "Since founding <a href="/developers/central-element">Central Element</a> in 2011, we've continued to evolve every year we've operated, and now we're moving into what we're calling the 'ultra-luxury phase'."

Chivas says they only want to develop in the best locations. But with that, you need to create an A-grade product.

“If you find a location and create A-grade product that matches that location, then you know you’ll have strong demand no matter where the property cycle is at,” Chivas says.

"In this end of the market, you really need to bring a story to life, whether it's through brining in heritage or other luxury design elements. Ultimately these types of developments need to be a cut above the rest. They need to be more than an apartment in a great location. The money demanded by these projects, and the buyers of the projects, demand nothing less. That extra layer of detailed design and amenity is warranted for locations like Coogee and Bondi."

<img alt="CE Bondi" data-entity-type="file" data-entity-uuid="369c8542-743e-4154-96f0-ac28e77553b2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/CE%20Bodi.png?VersionId=l0SrfrPwkbTmHiL2PXHeQWeimU7DNxoG" />The Sandridge &amp; Wilga St site in Bondi. Image supplied

Chivas says the Hyde Park project at 271 Elizabeth Street will also be a step above what has ever been created in that area.

"They'll be some of the largest apartments Hyde Park has seen," Chivas says. "Not many other developments will be delivering house-like proportion residences like these. There's so little opportunity to build on Hyde Park, there's literally four streets, the majority of which is government-owned, so when you get that opportunity, you expect to never have one again in your lifetime, so you really have to push the boundaries to create something that will last."

It will suit those who want house-size city living, and demand for that kind of product far outstrips supply, Chivas says.

The mixed-use project, being developed in collaboration with equity partner MaxCap and the current landowner, will be designed by the renowned architects Murcutt&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;and will home just 42 apartments across 14 levels, above&nbsp;hospitality spaces.

It will be the first time architecture legend&nbsp;Glenn Murcutt and Angelo&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;will work together on a project for the&nbsp;<a href="/developments/sydney-nsw">City of Sydney</a>.

<img alt="Hyde Park" data-entity-type="file" data-entity-uuid="c73dece3-cf4e-432a-a57f-04916aec9567" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.45.39%20am.png?VersionId=KTwQ1xCGqorv8NMYT_0N6PSBETA2CH7j" />The approved plans for 271 Elizabeth Street. Image supplied

These high end products don't often require traditional marketing methods, Chivas says.

"It's not like a typical on market campaign, the nature of the product bring with it a level of discreetness," Chivas says. There's already a handful of prospective buyers lining up that want to be a part of the Bondi site, and the only information available is the address.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

The groups will be the first to receive the early ideas for the project, and in this scenario will be able to work with CE and their chosen architect to tailor them to their liking.

CE recently launched their luxury Drummoyne waterfront apartment development, Bianca Drummoyne, which quickly garnered attention as a rare harbourfront offering, the first waterfront project to be released in Drummoyne since 2020.

<img alt="Bianca" data-entity-type="file" data-entity-uuid="a653f348-6300-4549-87fb-5a023a122d9b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.43.15%20am.png?VersionId=y47RwMWs0jhaOJIJeCT4wCuxAKRvVGZ7" />Bianca Drummoyne will have just 12 luxury apartments on the harbour. Image supplied

There's been the expected demand from Drummoyne locals, as well as the affluent Hunters Hill area who are looking to downsize to the water. He says there's also been those from other areas who are closer to the Sydney Harbour precinct.

"Because of the price point, there's been enquiry from those who see value compared to if the project was in Double Bay or Mosman. Drummoyne still represents that luxury harbour lifestyle, a private beach, north-facing apartments with a resident swimming pool on the harbour and a ferry 100 metres away, without the price point of some of those more celebrity suburbs."

Chivas says waterfront coastal sites are always going to be top tier, and will never not have that demand factor.

"There's definitely a high priority to find those properties."

While many developers would be happy to be in the position CE are in with a work book of completed projects and a strong pipeline heading into 2024, Chivas says there's still the appetite to secure the next opportunity, although he says it's becoming increasingly more difficult to buy in Sydney's premium waterfront suburbs.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

<img alt="Coogee Central Element" data-entity-type="file" data-entity-uuid="0f942326-813d-40dd-bdd1-c7891dd0fbb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.44.28%20am.png?VersionId=VF7Y24F5bhi9oPhTsXFQggTMEJ.6r.5P" />The approved plans for Coogee's 1860 Ballamac House, to be launched in 2024. Image supplied

Chivas says sometimes there's no money in the world that would pry a family away from their land.

"All vendors have different ways of looking at things and expectations. They all have unique circumstances. Some are emotionally connected to their land parcels and want them to stay in the family name forever."

Chivas says there are some who have&nbsp;unrealistic expectations of what their land can be worth to a developer.

"Ultimately the land is worth what someone is willing to pay for it. But if it's a developer, and they want to create some sort of new development and come out of the other side higher than break even, then there's absolutely a ceiling as to how much the land is worth," Chivas says.

"There's always basic economics as to what you can achieve."

While not haven't to look much further than father Wayne for development inspiration, Chivas says he takes some learnings from Sydell Group, the hospitality and hotel operator famous for creating The Ned in London and the Park MGM in LAs Vegas.

"While they don't do residential development, they create these amazing stories in their developments where they've got the story telling factors, whether it's through celebrating heritage or hero-ing the location. It's definitely a brand we like and how they position themselves, their vision, delivery, and how they execute on a world class scale is certainly something we look to replicate.

"It's similar to what we do in a bit of a different way."

Chivas says he will be taking some inspiration from Sydell Group for their latest hospitality venture, the redevelopment of The Minerva in Potts Point, the iconic theatre which they're transofmring into a 63-key, five-star boutique hotel.

They were given the green light from the City of Sydney Council earlier this month.

Managing Director Nathan Chivas says setting new benchmarks in property development has been in Central Element’s DNA for decades

The story behind Central Element's push for ultra-luxury in Sydney's best suburbs: Five minutes with Managing Director Nathan Chivas

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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