Gold Coast units have continued to show their strength through 2023,&nbsp;according to property data analytics firm CoreLogic's Monthly Hedonic Home Value Index.

Unit values rose 1.5 per cent last month, the highest monthly gain across every capital in the country. The 3.9 per cent rolling quarterly gains are also the strongest in the country, ahead of <a href="/new-apartments/sydney-nsw">Sydney</a> (3.5 per cent).

The median unit value is now $672,900, according to CoreLogic, now just -2.8 per cent lower than this time 12 months ago following the national year-long downturn.

CoreLogic's Research Director Tim Lawless says a lack of available supply continues to be the main factor keeping upwards pressure on housing values.

“Through June, the flow of new capital city listings was nearly -10 per cent below the previous five-year average and total inventory levels are more than a quarter below average.

Read more:&nbsp;<a href="/news/qld/city-beat-june-2023-gold-coast-apartments-defy-downturn-rebound-sharply">City Beat June 2023: Gold Coast apartments defy downturn, rebound sharply</a>

"Simultaneously, our June quarter estimate of capital city sales has increased to be 2.1% above the previous five-year average.”

Although housing values continue to record a broad-based upswing, the pace of growth across most capitals eased in June.

“A slowdown in the pace of capital gains could be a reflection of a change in sentiment as interest rate expectations revise higher,”&nbsp;Lawless added.

“Higher interest rates and lower sentiment will likely weigh on the number of active home buyers, helping to rebalance the disconnect between demand and supply.”

<h2>What's happening in the off the plan apartment market?</h2>

Supply continues to be a contributing factor to the success of off the plan apartment projects on the <a href="/developments/gold-coast-qld">Gold Coast</a> in June.

Urban Activation Director of Sales and Marketing Matt George says June showed&nbsp;a strong continuation of demand in the <a href="/developments/gold-coast-qld">Gold Coast property market</a>.

"Demand from lifestyle property purchasers from Brisbane, Melbourne and Sydney has continued well into 2023," George says, adding that investors with a longterm view of using apartments for personal use later in life have made up a strong portion of enquiry.

Urban Activation is marketing Melbourne developer Hirsch &amp; Faigen's <a href="/developments/mermaid-beach-qld-4218">YVES at Mermaid Beach</a>, which is now 90 per cent sold. The crane is on site, and completion is slated for the end of 2024.

[smartcode_project:default project_id=102451 project_image_fid=186080]

They're also selling <a href="/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">26 Vista</a>, the sustainable <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a> tower, for MRCB International. George says they're seen&nbsp;consistent demand&nbsp;from China, Hong Kong and Taiwan due to the project's central location, quality, and scale.

They did $55 million in sales at the project within the first three months of its marketing.

Apartments start from $605,000 in the 51-level tower, which will home the <a href="/news/qld/26-vista-to-home-the-gold-coasts-highest-resident-sky-pool">Gold Coast's highest residential swimming pool</a>.

[smartcode_project:default project_id=112730 project_image_fid=211251]

The amenity, on level 51 of the <a href="/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">Vista Street building</a> just off the beach in Surfers Paradise, will be reserved for the residents of the three and four-bedroom apartments from level 33 and up.

Dubbed the Alto Private Lounge, the rooftop will feature a&nbsp;sky pool, as well as a private dining space, kitchen, and a bar with cocktail-style seating.

Also forming part of the rooftop is ‘Stratos 168’, which is accessible to all residents. That offers an indoor and outdoor lounge, fire pits, garden beds, and an outdoor workspace.

[smartcode_project:default project_id=112730 project_image_fid=211248]

Level 4 is home to ‘<a href="/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">Club Vista</a>’, comprising a large pool and yoga sun deck, as well as a cycle-room and gym offering world class equipment open to all residents.

George believes that amenity rich towers such as <a href="/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">26 Vista</a> also need to offer the convenience and the immediacy typically experienced with inner city living, or hotels.

Knight Frank Associate Director James Elliot says he's seeing strong buyer interest from the Gold Coast to Byron Bay from high-net-worth clientele seeking premium quality new properties.

"They are more considered with their buying approach and very detailed in their investigations and research," Elliott said, adding that while the buyer journey is now a little longer&nbsp;between initial enquiry and making a decision on a property since the COVID-induced boom, the segment of buyers in the $5 million to $20 million range for high-quality off the plan properties is still high.

The median unit value is now $672,900, according to CoreLogic, now just -2.8 per cent lower than this time 12 months ago following the national year-long downturn

Joel Robinson

City Beat July 2023: Gold Coast unit market the strongest in the country

A new townhouse development in <a href="/developments/wollstonecraft-nsw-2065">Wollstonecraft</a> on Sydney's Lower North Shore is expected to meet a large gap in the market for downsizers.

PBD Architects have put the plans together for a 10-townhouse development at 7-9 Selwyn Street, a 1,546 sqm site near the Wollstonecraft Train Station.&nbsp;

Each of the townhomes will have three-bedrooms across three levels, and a shared basement with parking for 16 cars.

Local agency Atlas provided advice on the project. They said there's a gap in the market for this type of product.

"Due to the nature of the area, there has been a shift over the past three years of local residents wanting to downsize but struggling to find the right accommodation, particularly older residents given most options in the area are limited to older homes with stairs or conservatively sized apartments," the submission by Atlas agent John Melville said.

<img alt="Selwyn" data-entity-type="file" data-entity-uuid="ff8409b9-cd68-4b5b-acce-566bce4c241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-10%20at%201.59.05%20pm.png?VersionId=8ZkS632mzC5Hb8eoJ0DWEzkrYepuvQkZ" />

He said the team has seen a 42 per cent increase&nbsp;in enquiry for clients looking for three bedroom townhomes.

"We find most people looking to downsize find a three bedroom home as the most suitable option," he said, noting that they see this development as an opportunity to fill a gap in the market for townhouses with an internal lift, that will have a wide appeal to a range of different buyer dynamics, but largely will suit older residents looking for a suitable downsizing option that don’t want to live in an apartment.

Ray White Lower North Shore Principal Tim Abbott shared the sentiment, suggesting the proposal will be highly sought after because of the townhouse configurations with additional family rooms and studies, and the generous sizing which ranges from 170 sqm to 173 sqm internally.

"These sizeable spaces are highly desired and are rare to find," Abbott's submission read.

"There is a high level of demand for high-quality three bedroom residences with additional amenities within the Wollstonecraft area and surrounding suburbs, this is driven by strong levels of enquires. The demand for this product generally comes from a high net-worth demographic of an aging population who is struggling to secure sizable, low maintenance residences within the Wollstonecraft region, and are not yet ready to transition into apartment living."

<img alt="Selwyn" data-entity-type="file" data-entity-uuid="714489ba-4142-49cd-ac4e-3067ddf03c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-10%20at%201.59.55%20pm.png?VersionId=YR4Acq5HEXajwBAeyoxVq2AMm2KHs28o" />

He said much of the&nbsp;existing stock within the market is apartments, restrictive in size, and does not include high levels of specifications.

"A low supply of high-quality stock is seeing many locals relocate to neighbouring regions to meet their needs and expectations and this is highlighting a clear gap within the market."

Their comparable sales list of new three-bedroom townhouses showed that only&nbsp;one other development within Wollstonecraft, The Greenwood Collection by Metro Properties, offered high-quality three-bedroom residences. The rest were in surrounding suburbs <a href="/developments/crows-nest-nsw-2065">Crows Nest</a>, <a href="/developments/naremburn-nsw-2065">Naremburn</a>, <a href="/developments/willoughby-nsw-2068">Willoughby</a>, <a href="/developments/waverton-nsw-2060">Waverton</a>, and <a href="/developments/cremorne-nsw-2090">Cremorne</a>.

PBD said in their Design Verification Statement&nbsp;that the design&nbsp;of the development is focused on creating a cohesive and visually pleasing aesthetic that complements its surroundings.

<img alt="Selwyn" data-entity-type="file" data-entity-uuid="1124d9ea-ade3-4766-b699-9b12d0f96015" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-10%20at%201.59.38%20pm.png?VersionId=mZN44QXEyOEU2_cq3KivfBQqnmmC3c_k" />

"The use of natural materials and incorporation of greenery throughout the development creates a harmonious and inviting atmosphere.

"The design also takes advantage of the local climate to provide a comfortable and enjoyable living experience for residents.

They said the overall design ensures that visitors and residents feel welcomed and comfortable within a lush green environment, and the design&nbsp;takes into consideration current market demands and living patterns in the local area.&nbsp;

Each of the townhomes will have three-bedrooms across three levels, and a shared basement with parking for 16 cars

First look: Boutique Wollstonecraft townhouse development to meet market gap

A new development in Byron Bay is hoping to create a new blue-print for all future mixed-use developments in the <a href="/developments/byron-bay-nsw-2481">Byron Shire Council</a>.

The new three-level project at 9 Marvell Street, near a number of cafes, restaurants, and the <a href="/developments/byron-bay-nsw-2481">Byron Bay</a> Bowling Club, will have a mix of eight three and four-bedroom apartments above ground floor commercial tenancies, and a resident-only rooftop with swimming pool and barbecue deck.

Australian research lab Finding Infinity prepared a&nbsp;Design Excellence Report - Sustainability, for the project, stating is has the potential to "offer better experience."

"This project is an opportunity for leadership - to create an example that makes it easy for everyone else to follow," the Report read.

The Report said it can be a place that’s easy for residents to have a positive environmental impact, calling it a "finely tuned machine."

"A building that is built cost-effectively and is high performance with a positive impact. It functions simply, and has ultra-low operating costs. It’s easy to maintain and run. Spaces are comfortable and the community thrives. A zero-carbon operational building."

They said the building could reach&nbsp;the environmental-financial threshold, where every profitable initiative is implemented, improving both the environmental and financial performance of the project.

<img alt="Byron" data-entity-type="file" data-entity-uuid="3a132943-252d-41dc-afda-b6ec0c863882" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2011.55.11%20am.png?VersionId=0HWkwOCF5tXlvgdqdp5Bpf69Vdl30y1E" />

The 1,013 sqm site, currently home to the Byron Bay Dive Centre, has been owned by local businessman Perry Bartholomew, who is the Dive Centre's Managing Director, since 2009, when it was bought for $2,275,000.

<a href="/architects/harley-graham-architects">Harley Graham Architects</a>, who also designed <a href="/new-apartments/bohemian-90-96-jonson-street-byron-bay">The Bohemian</a> for <a href="/developers/luxcon-group">Luxcon Group</a>,&nbsp;put the plans together for the $12 million development. The average apartment size is 140 sqm.

There will be EV charging facilities in one car share space in the building, however provisions are proposed for an additional eight charging spaces to meet future demand.

Finding Infinity's Report said that it is predicted that by 2035, 50 per ent of new car sales in Australia will be electric.

Research done for the City of Sydney showed that 81 per cent of residents were in favour of installing EV charging.

<h2>Sustainability initiatives</h2>

<ul>
	<li>High performance facade and considered orientation</li>
	<li>Mixed Mode Ventilation</li>
	<li>Efficient lighting, appliances, equipment, and HVAC systems</li>
	<li>100% electric, no gas connection</li>
	<li>Heat pump DHW</li>
	<li>Rooftop Solar PV</li>
	<li>Imported GreenPower</li>
	<li>EV charging and future-proofing</li>
	<li>Smart controls and apartment kill switches</li>
	<li>Efficient water fittings and fixtures</li>
	<li>Rainwater collection and reuse</li>
	<li>Recycled water connection</li>
	<li>Zero-waste tenancy agreements</li>
	<li>E-water systems</li>
	<li>Organic waste separation</li>
	<li>Non Toxic Construction</li>
</ul>

&nbsp;

Australian research lab Finding Infinity prepared a Design Excellence Report - Sustainability, for the project, stating is has the potential to "offer better experience."

First look: Mixed-use development to reinvent sustainability in Byron Bay

Architecture firm Myers Ellyett says living in subtropical Brisbane is an experience of living on a verandah.

They say being half indoor, and half out, is a life that embraces living with gardens and greenery.

That was their design inspiration for the newest apartment development plans filed in Brisbane, a 14-level tower on a prime site at <a href="/new-apartments/92-kingsford-smith-drive-hamilton">92 Kingsford Smith Drive</a>&nbsp;in <a href="/new-apartments/hamilton-qld-4007">Hamilton</a>.

The project will have 62 apartments, a mix of 20 two-bedroom units and 42 three-bedroom apartments. It will be crowned with a 1,048 sqm rooftop with swimming pool and spa, gym with sauna and yoga lawn, private dining room, wine room, and barbecue area.

There will also be a first level sky forest with seating nooks, on the same level the apartments start. They will sit above a podium and basement levels which will home 148 car spaces and 78 bicycle spaces, as well as commercial tenancies on the activated ground plane.

<img alt="Kingsford Smith Drive" data-entity-type="file" data-entity-uuid="ae86766b-54b9-4613-9f3c-851fe33ff5b0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2012.17.58%20pm.png?VersionId=ji2cKm38pwS7rgUaxDOa7jyCOkk5y3K6" />

The plans have been filed by Industry Corp,&nbsp;an entity linked to local&nbsp;Dennis Tomasel.

The built form above ground level has been separated into two distinct forms, which <a href="/architects/myers-elyett">Myers Elyett</a> have referred to as the trunk and treehouses.

Myers Elyett described the proposal as a "gateway project that embraces <a href="/new-apartments/brisbane-qld">Brisbane’s</a> attractive climate &amp; outdoor lifestyle."

"The architecture responds to the natural and urban influences, creating a distinctive architecture adorned with greenery," the Urban Context Report read.

"The project offers an opportunity to enhance and create a memorable experience for those visiting the subtropical city of Brisbane."

<img alt="Hamilton" data-entity-type="file" data-entity-uuid="b61f52c1-bef0-41ba-9388-cd0516e9f8e8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2012.09.56%20pm_0.png?VersionId=vHmqoch1HA_E2ss3LfCSpcysCqwMCm_Q" />

The corner site&nbsp;occupies an unobstructed location on the fork of the Brisbane River and Breakfast Creek, with long views from the river, road, and adjoining suburbs.

All 62 apartments are entered through sky gardens. They provide distinctive open-air circulation and private open spaces lush with planting.&nbsp;

Mewing Planning Consultants said in their&nbsp;Town Planning Assessment that the site&nbsp;presents a range of contextual and urban form characteristics that present the opportunity to develop a high density, distinctive residential development that is befitting of its location.

<img alt="Hamilton" data-entity-type="file" data-entity-uuid="f91f4880-cc18-4292-9cc0-bb60d12927f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2012.10.14%20pm.png?VersionId=m0YKl81xm6iC2BTraLaiRkuTUNNAkurW" />

"Having regard to the contextual characteristics and visual values of the site, the applicant proposes to develop a high density and exemplar residential development that embraces Brisbane’s subtropical Town Planning Assessment."

"92 Kingsford Smith Drive, Hamilton climate, takes advantage of site’s high level of amenity and outlook and is of a scale that is generally coherent to, yet sufficiently distinct from (for urban form reasons), its surrounding built form context."

They said the intent of the&nbsp;development is to encourage urban consolidation within a well-located and focal inner city precinct (having regard to recently released Brisbane City Council strategy documents) that will contribute to the diversification and quality of high density residential development, including the provision of generously sized and functional sky homes that are suitable for families who want to live in a highly accessible location close to employment and services."

<img alt="Hamilton" data-entity-type="file" data-entity-uuid="e516e38d-65b9-4868-b4d4-efb76967701c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2012.14.33%20pm.png?VersionId=DRxb1lMaUpf2b65JW0zFW5DZJuzGxG6K" />

Wild Studio handled the landscaping, suggesting the project offers an "exciting opportunity to transform a coveted, riverside site into a thriving, complex forest, reminiscent of the pre-existing landscape.

"Refined exterior spaces are sunken into the forest, captivating residents and their guests and capitalising on the salutogenic power of landscape," their submission read.

"Supporting BCC’s Buildings That Breathe initiative, this development will set a new benchmark for living, native greenery, enrich the urban experience and help contribute to a vision of Brisbane that is sophisticated and subtropical."

The built form above ground level has been separated into two distinct forms, which Myers Elyett have referred to as the trunk and treehouses

First Look: New forest-laden apartments heading for Hamilton's riverfront

Two development sites listed within the Melbourne CBD and surrounds are likely to attract residential interest given their location.

A Melbourne-based family have listed a corner freehold building at&nbsp;144-148 A'Beckett Street, in the Queen Victoria Market Precinct which is to undergo a $1.7 billion redevelopment.

The building is being sold for the first time in over three decades.

Cushman &amp; Wakefield and MMJ Real Estate are marketing the three-level building which currently comprises a prominent ground floor showroom, off street lockup side entrance, and open floor plates across levels one two and three.

Oliver Hay, Cushman &amp; Wakefield’s International Director &amp; Co-Head Investment Sales, VIC, believes one of the most significant advantages of this property is its proximity to the upcoming $1.7 billion Lendlease &amp; City of Melbourne Queen Victoria Market redevelopment, set to be the largest urban renewal project in Melbourne. Just meters away, the building is poised to benefit directly from this transformative initiative.

“Adding to its appeal, the property is conveniently located a mere 250-metre walk from the advancing State Library Train Station, part of the $11 billion Metro Tunnel Project scheduled for completion in 2025. Melbourne Central Train Station and multiple tram routes on surrounding thoroughfares are also within easy walking distance” Hay said.

Interest is expected at over $8 million.

Cushman &amp; Wakefield is also marketing what they are calling&nbsp;one of the last Melbourne city fringe corner sites of scale with panoramic views.

The site, across&nbsp;60-80 Adderley Street &amp; 133-137 Batman Street, West Melbourne, is ideally located for future development, on a north-facing corner wrapped by council laneways, future-proofing any development.

<img alt="West Melbourne site" data-entity-type="file" data-entity-uuid="5efa2611-ac79-4596-b97c-a076b2679589" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%2011.19.48%20am.png?VersionId=enUDJrSqz8rM_Obsxpc70uhvTEdugnf0" />The warehouse site across Adderley and Batman Streets. Image supplied

The 1,420 sqm site currently comprises two warehouses, and comes with demolition clauses, allowing&nbsp;immediate development ability.&nbsp;

Daniel Wolman,&nbsp;Cushman &amp; Wakefield’s International Director &amp; Co-Head Investment Sales, VIC&nbsp;said the strategically located mixed-use precinct surrounding Adderley Street &amp; Batman Street is supporting the expansion of the Melbourne CBD and rapidly transitioning from a historically industrial area to a vibrant, charter-rich residential and business community.

“With its exceptional development potential, corner positioning, untapped scenic views, and diverse future possibilities, 'Batman and Adderley' is poised to attract a wide range of buyers seeking to capitalise on a future-proof location”.

The site is just over 100 metres from The Spencer Precinct, which has been earmarked&nbsp;as the dynamic 'main street' of West Melbourne.

Wolman said this strategic designation brings forth exciting prospects for new and existing businesses, attracting a diverse range of retailers, eateries, and service providers.

“The incorporation of essential retail amenities within all new developments within the Spencer Precinct guarantees a vibrant and convenient lifestyle for residents and visitors alike”.

The A'Beckett Street and Adderley and Batman Street sites are prime locations for future residential development

Two prime Melbourne development sites to attract residential developers

Casuarina, a quiet suburb on the fringe of New South Wales and Queensland in the Tweed Shire, was long a quiet neighbour to the more well known Kingscliff.

It was popular for weekenders from Brisbane and the Gold Coast, and holiday homes for those further afield in Sydney, as well as retirees and families.

Large houses make up the majority of the residential spread, but new opportunities on undeveloped land has seen apartment developers descend on the coastal suburb.

Holm Developments and joint venture partner&nbsp;DeMartini Fletcher put it on the map in the off the plan apartment market when they announced PAMA, their 47 apartment project on Grand Parade, in 2021.

Last year Brisbane-based Azure Developments <a href="/news/nsw/azure-to-venture-to-nsw-with-subtropical-apartment-and-townhouse-development-in-casuarina">filed for a 91-dwelling coastal resort</a> with both apartments and terrace homes on the same street.

<img alt="Azure" data-entity-type="file" data-entity-uuid="99fd63ef-12e5-4d00-80c7-525265a39109" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-07%20at%209.16.09%20am.png?VersionId=g5IeNYxKGoon42_mKfGfi3fDbgzwSyqf" />Azure's plans for their Grand Parade site. Image supplied

Now Clarence Property has listed one of the last undeveloped beachside sites through CBRE, who is expecting interest from both Australian and offshore developers.

The one hectare offering, split into five lots of land, is also on Grand Parade, just 100 metres to the beach.&nbsp;

The five sites range from 1283 sqm to 2,482 sqm offering a combined total of up to 9,663 sqm, with access from and frontages to Grand Parade, Candlenut Street, Black Wattle Circuit, Habitat Drive and Blue Horizon Drive. They're being sold either separately or in one line.

Holm and DeMartini Fletcher paid $8.69 million for their 4,083 sqm PAMA site in late 2021, while Azure spent nearly $21 million on their larger 7,354 sqm site around the same time.

Over 70 per cent of the 47 apartments in PAMA have sold. The project is now under construction through Hutchies.

[smartcode_project:default project_id=112236 project_image_fid=202262]

CBRE Gold Coast managing director Mark Witheriff and associate director Daniel Doran, together with Colliers director of development sites Brendan Hogan and Gold Coast director-in-charge Steven King, are marketing the sites in an expressions-of-interest campaign closing on August 16.

Witheriff said he expected a bevy of premium residential and mixed-use developers to run the rule over the sites which are approved for a mix of three and four storey developments up to 13.6 metres in height.

“This is an unprecedented opportunity to deliver a landmark mixed-use promenade precinct close to the beach offering unimpeded ocean views from the upper levels within one of the most sought- after coastal communities in the country,” Witheriff said.

“The approved Casuarina Beach Town Centre plan permits a broad range of uses including shop-top housing with ground level commercial, medical and retail spaces fronting Grand Parade as well as three-storey residential-only boutique apartments.

Colliers agent Brendan Hogan said the range of convenience amenities in walking distance, including the thriving Coles- anchored Casuarina Village as well as The Commons retail and dining precinct, strengthened the appeal of the final precinct of Casuarina Beach.

<img alt="Casuarina" data-entity-type="file" data-entity-uuid="98f0f740-8c65-4f36-826d-0e8215eba8af" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%203.32.41%20pm.png?VersionId=C6HP9sANS_QGuNbl53gf3vBEhBV7._eV" />The five beachside lots. Image supplied

“It’s not just the Casuarina Beach community that has come along in leaps and bounds in recent years but the wider region as well, with more than $1 billion in major infrastructure projects adding to its transformation,” Mr Hogan said.

“Casuarina Beach is just a five-minute drive from the new $723 million Tweed Valley Hospital nearing completion and due to open early next year and under 20 minutes’ drive to Gold Coast International Airport, which recently underwent a $260 million terminal expansion.

“The region is playing host to a massive amount of investment which is underpinning strong population growth and sustained long-term growth in property values.”

They are located within the Casuarina Beach Town Centre, which enjoys NSW State Government concept plan and project approval, which details the applicable built form and land use provisions permitted.

Large houses make up the majority of the residential spread, but new opportunities on undeveloped land has seen apartment developers descend on the coastal suburb

More off the plan apartments slated for prime Casuarina Beach development site

Late last year MONNO Projects launched its once-in-a-generation development, Stella Maris, on the outskirts of the Geelong.

Stella Maris, set on a prime three-acre waterfront block in Rippleside which had been owned by the Sisters of Mercy and the MacKillop Family Services for over a century, has provided a new form of living in the growing area.

Recognising the rarity of the project and the quality of the development team, the distinctive project is already 50 per cent sold, which MONNO Senior Development Manager CJ Koay says is an incredible achievement in the current market.

Urbis calculated in their Q1 2023 report that only five per cent of available stock on the market in Melbourne sold in the first quarter of 2023, the lowest sale to available stock percentage across the country. Comparably Sydney saw nine per cent of its available stock sell, and the Gold Coast and Brisbane closer to 20 per cent.

Koay attributes Stella Maris' success to the project's uniqueness.

[smartcode_project:default project_id=136222 project_image_fid=213722]

"It's an unrepeatable project in an unrepeatable location," Koay says, adding that they could have made the project denser, but to create a luxury product such as Stella Maris, part of that is the landscaped surroundings and generous space within the grounds.

The project comprises 52 apartments and three townhouses across four striking buildings designed by Rothelowman. At the heart of the development is St Helens Estate, an 1848 stately mansion with a contemporary rear addition on a 3,000 sqm subdivided allotment designed by Carr, complemented by landscape design from Acre. The once-in-a-generation residence is slated for a very exclusive release Q4 2023

"We've brought our expertise in curating and delivering quality development to Geelong, and matched that smarts and attention to detail with a location which will be incredibly difficult to replicate, and that's resonated with buyers," Koay added.

The majority of buyers at Stella Maris, particularly those securing the higher-priced stock, have come from the local area, something which Koay said the team had anticipated when they were putting the plans together.

[smartcode_project:default project_id=136222 project_image_fid=213712]

"The majority of buyers have been the mature downsizers from Geelong and the Bellarine Region, as well as those on acreage who have lived and worked further away from a city hub. Now they want to be closer to the action, while also having the added bonus of being on the water."

Monno's big sales milestone will soon be followed by commencement of demolition and early works in the coming weeks, which Koay says will no doubt see the remaining stock in the development sell out well before it’s forecasted mid-2025 completion date.

"Stella Maris has managed to buck the trend of the current market in reaching these milestones, a testament to the quality of our offering which is a confidence booster for our customers and prospective buyers,” Koay says.

[smartcode_project:default project_id=136222 project_image_fid=213716]

Geelong is quickly establishing itself as Melbourne's second CBD, and with newly gazetted planning controls which facilitates development activities, the forecast population growth is expected to see nearly 400,000 residents call the Geelong region home in the next two decades, a 40 per cent increase from the current population.

Traditionally the Mornington Peninsula has been the weekender playground for Melburnians, but Koay says Geelong and the surrounding areas are now offering a different prospect for those looking for something near the water.

"Geelong offers a an exciting proposition, where downsizers and seachangers can have the best of both worlds, living near a growing city without the density compared to Melbourne, whilst also being on the water and at the gateway to Great Ocean Road and the surf coast regions."

[smartcode_project_cta:default project_id=136222]

Stella Maris, set on a prime three acre waterfront block in Rippleside, has provided a new form of living in the growing area.

Monno sell 50 per cent of Geelong's Stella Maris

Developer Polycell Group, who is currently developing The Rochester in Broadbeach, looks like it has it's eye firmly locked in on their next development site.

Records show they've spent $15.5 million buying 19 apartments in the Sandpiper building at 155 Old Burleigh Road. They were bought from developer Peter Priest from Trenert, who earlier in the year decided to abort their plans to buy out the rest of the owners when rival developers secured apartments to scupper the redevelopment.

The stoush went to court, with Trenert claiming the rival developers used information that was subject to a confidentiality deed, after they had made a $40 million offer to secure the whole project.

Polycell was founded in the 1970s by current director Robert Ching-Chin Hsu. Starting life as a packaging and materials company in Taiwan, Polycell branched out and is now the largest privately owned air bubble cushion producer in the world today.

No doubt they will now work on the rest of the owners in the building.

<img alt="Sandpiper" data-entity-type="file" data-entity-uuid="d692b541-1154-4a16-a8dc-7a20a7f1b059" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%202.29.58%20pm.png?VersionId=.APH4BEfZiqPkz0Mc2xDm2L7s7MBZxg1" />

Despite being gazetted earlier in the year, the rules for developers to take control of a building if they have over 75 per cent of the apartments, have yet to come into force.

There have been two sales in the development this year, aside from Polycell's purchases. Two two-bedroom apartments sold for $650,000 and $755,000.

The 1,828 sqm site is located directly opposite Kurrawa Park, which will offer never-to-be-built-out views across the beach and ocean.

It sits on the corner of Broadbeach Boulevard and Albert Avenue. The other side of Albert Avenue is the towering ULTIQA Beach Haven, while behind is the under construction, twin tower development Victoria &amp; Albert by Iris Capital.

<img alt="Sandpiper" data-entity-type="file" data-entity-uuid="75803a6c-d65f-4976-a0e6-df5587ceaf33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%202.33.13%20pm.png?VersionId=XBhB9EA31195oJoOsMhJLG57q4GKjIAj" />The current view from Sandpiper

Polycell is currently developing The Rochester, around 700 metres away on Surf Parade. That has 170 two and three-bedroom apartments.

It prides itself on it's extensive resident amenity. The $250 million tower features over 2,200 sqm of facilities.

[smartcode_project:default project_id=112276 project_image_fid=211183]

The whole of level four, some 1,350 sqm, will be dedicated to a health and wellness centre, which will feature a state-of-the-art gym, dry and wet saunas, a cold bath and a yoga lawn.

There will be an outside podium with a lap pool, a second leisure pool, heated spa, sun decks, barbecues, and alfresco dining spaces, all with views of the Pacific Ocean and the Gold Coast hinterland.

[smartcode_project:default project_id=112276 project_image_fid=211186]

Level 26 will home a further 930 sqm of amenity.&nbsp;

Dubbed The Executive Club, residents will have access to a sky lounge and private and communal dining spaces, anchored by a commercial kitchen for catering. A cellar room will feature individual wine and whiskey lockers.

The Executive Club will also feature state-of-the-art workspaces, including a&nbsp;boardroom, private office suites and workstations. A six-seat cinema, games room, and outdoor lounge areas, complete the amenity.

Polycell is currently developing The Rochester, around 700 metres away on Surf Parade

Exclusive: The Rochester developer Polycell locks sights on next Gold Coast apartment project

The Roche Group is trying again for its prime Lilyfield site on the fringe of Rozelle opposite Callan Park.

The Double Bay-based developer has submitted plans for a mixed-use development on their large 6,824 sqm site at&nbsp;469-483 Balmain Road. They're seeking to build 89 apartments, 6,000 sqm of flexible employment space, and 1,200 sqm reserved for creative purposes.

Five percent of the apartments will be reserved for affordable housing.

Part of the application is to develop&nbsp;a publicly accessible square named Bakers Square behind the old bakery building.

The Urban Design Report prepared by architecture firm Chrofi said the vision of the project is to radically improve the industrial employment offer, revitalise and develop the existing local artistic community within the site, and to establish new opportunities for urban living in Sydney.

<img alt="Roche" data-entity-type="file" data-entity-uuid="c3409098-bffb-4e0c-8040-8e7dfa8ac8ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%201.25.37%20pm.png?VersionId=_2Zp2ydNRFYmTIMw9Ihl9d7BIJsYc7ge" />

"The proposal will feature a dynamic and unique precinct that leverages the interaction of new and old buildings while combining a variety of employment and residential uses on a large and currently underutilised site in single ownership.

"At the core of this new community will be a vibrant mix of artists, start-ups, independent market traders, creative industries, and residents that enjoy an urban lifestyle."

They said the&nbsp;outcome will be an engaging blend of residential and industrial spaces that fosters a community where people can live, work and recreate in close proximity.

There are six residential buildings proposed, which will home&nbsp;22 studio apartments,&nbsp;40 two-bedroom apartments, and 27 three-bedroom units.

<img alt="Roche" data-entity-type="file" data-entity-uuid="b687acf1-b770-4c8b-a48a-c179e9a5de47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Roche%20Lilyfield.jpg?VersionId=NpQOWKcrSMIv37mrzjNkW8Yu9.KgpgK1" />Clockwise from bottom left; Residential buildings A &amp; B;&nbsp;Residential buildings A &amp; B; Residential building C; Residential buildings D,E and F. Image credit: Chrofi

Chrofi described buildings A and B as "two-of-a-kind designed to be seen in composition with the Super Shed."

"These two buildings are detailed in steel to reference industrial materiality."

The Super Shed is the part of the refinement of the initial proposal, which has been amended since the Roche Groiup initially submitted plans back in 2016.

"The design now features a ‘Super Shed’ and a ‘Small Shed’ to compliment the retained Character Buildings with each building being carefully articulated to ensure all tenancies have good access to outlook, daylight, and ventilation," CHROFI noted in their submission.

"The Super Shed provides large floor plates over three levels interconnected with a central atrium. This organising spine provides access and egress if spaces are subdivided into smaller tenancies in the future, while at the same time, giving the building a campus feel that will contribute a collegiate culture for tenants within the building and broader precinct.

"The Small Shed and retained Character Buildings each provide floor space over 2-levels providing a range of spaces for smaller scale businesses. These buildings are grouped and connected by bridges to further promote a precinct/campus sensibility to the Proposal."

<img alt="Roche" data-entity-type="file" data-entity-uuid="5185ea3d-81a8-4f0c-bf89-1f85a2a9cf85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%201.25.52%20pm.png?VersionId=ewfMDV3tiV0yugPA6G_Vv1XZ1bruOdAD" /> 
The 1,314 sqm of public domain space. Image credit: CHROFI

Part of the development will be keeping the buildings that were built in the early 1900's for the Pilchers Bakery Company. There were identified by the Inner West Council as 'character buildings'.

"The character buildings represent the earliest construction phase and comprise two-storeyed face brickwork structures with timber framed interiors and trussed gabled roofs," a heritage impact statement by NBRS stated.

It added however that much of the physical fabric is heavily modified from its original configuration and the site shows evidence of several periods of unrelated growth and redevelopment.

They've proposed a mixed-use development on the 6,824 sqm site at 469-483 Balmain Road, comprising 89 apartments, 6,000 sqm of flexible employment space, and 1,200 sqm reserved for creative purposes.


Roche Group submit plans for impressive Lilyfield mixed-use development

In preparation of the construction of their STH BNK by Beulah development in Melbourne's Southbank, developer Beulah has commissioned Melbourne artist George Rose to paint a large-scale mural of Australia natives on the rooftop of the former BMW building.

Commissioned by Beulah Foundation, Beulah’s philanthropic arm, the artwork will aspire to promote art, well-being and sustainability, while advancing culture in and around the City of Melbourne.

The concept for the mural focuses on rejuvenating the current site’s urbanscape and will be complementary to the eye-catching Atong Atem mural that adorns the exterior of Hanover House, with both sites celebrating local female artists.The mural will be available to see from the end of July 2023 to December 2023.&nbsp;

<img alt="George Rose STH BNK" data-entity-type="file" data-entity-uuid="d220a90b-2b3a-454c-9111-b1cb6dcb00bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%2010.49.48%20am.png?VersionId=SvAwmtCI5E8UGMmqhOkBtt.zOPERJJ5T" />

Beulah Director Adelene Teh said the Beulah Foundation is thrilled to partner with George Rose, anticipating the positive impact of this artwork on the community.

“The vibrant piece commissioned by the Foundation adds colour and life to the area, aspiring to bring joy to workers, residents and visitors, especially those in surrounding tall towers who will be able to enjoy the rooftop mural daily," Teh said.

"It helps to spark imagination of the integration of life and biophilia with the future built environment, enhancing the connection between people and nature in cities.

“We received such positive feedback from the local community on Atong Atem’s Hanover House mural and it became a must-see installation within the City of Melbourne.

“With Melbourne as the cultural capital of Australia known for its rich and vibrant arts and culture scene, both of these murals aim to also activate Melbourne as a vibrant 24/7 city, while celebrating local female artists as well said."

Using bright, surreal colours and her signature gradients, George Rose’s work focuses on gestural mark-making often paired with endemic botanicals. Her work explores the fragility of nature, featuring endangered floral and fauna, and the transformation of the micro into macro-scale. Her work can be found across the globe from Australia to the US, and across Asia and Europe.

<img alt="George Rose" data-entity-type="file" data-entity-uuid="5e69fb6c-1104-4a8e-b0fb-a370d9e1246e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-06%20at%2010.49.33%20am.png?VersionId=2m0n2pSVttVRUli0nXyqoZsBo67GVQo0" />

Both Hanover House and the former BMW site will be the future home to STH BNK By Beulah, a vertically integrated city within a city that will offer world-class retail, a comprehensive wellness precinct, a residential offering, a childcare centre, extensive green spaces including rooftop gardens and eight pocket parks dotted throughout, as well as an innovative cultural centre in partnership with Centre Pompidou, which has the largest collection of modern and contemporary art in Europe.

The five-minute vertical city is substantially lower than the 15-minute benchmark set by planning models across the world, which was first introduced by French-Colombian scientist Carlos Moreno in 2016.

[smartcode_project:default project_id=8804 project_image_fid=194915]

In 2019, the Victorian Government launched a 20-minute neighbourhoods pilot program, following research that 20 minutes is the maximum time that people are willing to walk to meet their daily needs locally.

Beulah Director Adelene Teh said the Beulah Foundation is thrilled to partner with George Rose, anticipating the positive impact of this artwork on the community

STH BNK by Beulah site to feature large-scale mural of Australia natives before construction starts

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

Joel Robinson

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