The Gold Coast Turf Club is set for a major redevelopment, which will include a number of apartments flanking the finishing post.

The $370 million plans for Sunlight Lifestyle Precinct, named after the 2018 Magic Millions 2YO Classic winner Sunlight,&nbsp;come off the back of a separate $63 million application to build three new racing and training tracks. It will see eight new buildings constructed over a seven-year period.

<img alt="Sunlight" data-entity-type="file" data-entity-uuid="2fc2c840-9f4e-4bda-8b0b-ddea12b49a2d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-08%20at%2012.00.40%20pm.png?VersionId=iCyfo4DW0ZEzuXM9MkrT.IEMED3om3mb" />

There will be three high rise towers which will home the bulk of the 557 apartments, a number of low-rise buildings, and a five-level building with 63 service apartments.

The project is being developed by the Gold Coast Turf Club, in partnership with Tony Fung's Aquis Australia. It will cover&nbsp;1.8 hectares on corner of Racecourse Drive and Crombie Ave, where currently there's a number of horse tie-up stalls which will be relocated to the south of the existing events centre.

<img alt="Sunlight Gold Coast" data-entity-type="file" data-entity-uuid="2b3502fd-9cb1-4141-b8b9-31529cfa527a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-08%20at%2012.27.26%20pm.png?VersionId=r5oS8_Kz9VaRkivsLTaJAIeqiSmER6bj" />

<blockquote>
“The precinct will be distinctive, innovative, engaging, entertaining, productive and emphatically Gold Coast in character.” 
Gold Coast City Council
</blockquote>

Woods Bagot have designed the project which will have a significant ground plane, with a number of&nbsp;retail and commercial tenancies.

A major focus has been the rooftop amenity on some of the taller towers.

Crowning the residential buildings currently dubbed Tower A and Tower B, which together have a combined 369 apartments, will be a swimming pool with day beds, and outdoor dining area with barbecue facilities, a sauna and spa, and an indoor function room.

Atop Tower C, the tallest tower at 19 levels, is a two-level space with an impressive day club vibe. A central pool is overlooked by cabanas, day beds and pavilions, while there's also restaurant dining, bar space, a second plunge pool, and a VIP lounge. Upstairs is more function space and a prep kitchen. Tower C will home 154 apartments.

<img alt="Sunlight Gold Coast" data-entity-type="file" data-entity-uuid="300b6f92-4b82-49e8-9be9-f24030d6d5e6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-08%20at%2012.27.07%20pm.png?VersionId=LL48Ikg675d2bFheyTZuQeVesSB_HUA5" />

In their Design Statement submitted to the Gold Coast City Council, Woods Bagot said the&nbsp;proposed development offers a unique opportunity to create an exciting sub-tropical, mixed-use precinct within the Gold Coast Turf Club Equine centre.

"Sunlight is conceived as a catalytic development within the wider Turf Club precinct and aims to create a unique lifestyle &amp; tourism destination that contributes to the Gold Coast's economy.

"The development celebrates the sub-tropical climate &amp; enviable lifestyle of the Gold Coast by integrating the indoors with the outdoors."

<img alt="Sunlight Gold Coast" data-entity-type="file" data-entity-uuid="a5da30af-00e9-4ac1-8ce8-1ef5930634fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-08%20at%2011.54.06%20am.png?VersionId=cNTMK0KUvJIchdPKk5PV2Dx93M3kdT_a" />

There are four three-level buildings which will have just eight apartments in each. They will be shielded from the track and have ground-floor amenity which meets a "sub-tropical boulevard."

"The buildings are arranged in a way to prioritise the public realm and create a variety high-quality, landscaped sub-precincts connected via a series of pedestrian links that are activated by both retail and amenity," Woods Bagot noted.

"The sub-tropical boulevard is the main pedestrian and vehicular linkage through the precinct, connecting the Northern &amp; Western entries.

<img alt="Sunlight Gold Coast" data-entity-type="file" data-entity-uuid="df65f3ae-8837-454e-8fd6-61aff5c92a33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-08%20at%2011.54.19%20am.png?VersionId=S3NzLkGGmRLC8PuTB63OOCEvhq6qEiLl" />

"The Boulevard is flanked with landscaping and public amenity and is activated by a mix of retail tenancies on both sides.

"Completely accessible, the Boulevard is intended to be used as a flexible space to accommodate potential uses such as street festivals and weekend markets."

The precinct will have two on-grade car parks in addition to a basement carpark - one to the west and the other to the south of the precinct.

<h3>Sunlight Lifestyle Precinct Fast Facts</h3>

Tower A (Residential) › 17 Storey Residential › 184 Apartments › 20,030m2 GFA

Tower B (Residential) › 16 Storey Residential › 185 Apartments › 19,902m2 GFA

Tower C (Residential) › 19 Storey Residential &amp; Rooftop Function › 154 Apartments › 19,448m2 GFA.

Building D (Residential) › 2 Storey Residential &amp; Ground Level Retail › 8 Apartments.

Buildings E (Residential) › 2 Storey Residential &amp; Ground Level Retail › 8 Apartments

Buildings F (Residential) › 2 Storey Residential &amp; Ground Level Retail › 8 Apartments&nbsp;

Buildings G (Residential) › 2 Storey Residential &amp; Ground Level Retail › 10 Apartments

Building H (Short Stay Accommodation) › 5 Storey Short-Stay Accommodation › 63 keys › 3,882m2 GFA

Joel Robinson

Inside the Gold Coast Turf Club's $370 million redevelopment plans

The last sky home in Broadbeach's recently completed Beach House development by Andrews Projects, has hit the market.

The newly launched penthouse, which has a price guide of $6.5 million, crowns the 14-level building which features a curved facade designed by bureau^proberts.

There are just 12 full-floor apartments in the Australia Avenue building, featuring open-planned floorplans, north-facing views, and large floor-to-ceiling windows.

Andrews Projects Sales Manager Sarah Andrews said Beach House was designed with owner occupiers in mind, with the majority of purchasers to date being downsizers. A number of buyers came from Victoria.

“Our vision for Beach House was to bring house-sized proportions into an apartment space; floorplans are functional and provide similarities to purchasers’ current homes to make the transition into sky living seamless," Andrews says.

Each home features a kitchen island bench over four metres long, as well as a butler's pantry, dual work from home spaces, a second multi-purpose room and access to the exclusive resident’s only rooftop, complete with a heated infinity pool, spa, gym, sauna and a sunken lounge.

“We don’t expect Residence 1201 to last long, the amount of interest we receive on a daily basis for Beach House is phenomenal - it’s been very well received by the market as there is nothing comparable to in Broadbeach and won’t be for a long time," Andrews added.

“The design and consideration of the site in relation to its neighbours has been really well thought out; the exterior is alluring and features the signature Andrews Projects curves, while extended concrete slabs and vertical blades work as functional sun protectors and privacy screens."

The first 10 residences sold within a week of launching to market back in 2021. Buyers are expected to move in within the coming weeks.

Andrew Projects is currently developing Cascade in Robina, a $250 million, two-tower project set within one hectare of resort-style landscaping and amenity.

[smartcode_project:default project_id=135618 project_image_fid=210936]

A 25-metre magnesium pool, gym, spa pool and sauna form part of the state-of-the-art wellness centre, while generous landscaping complements the lush communal areas which include an amphitheatre and private poolside cabana.

The development, which is due to commence construction in mid-2023, is now selling the second tower apartments, which start from $750,000 for a two-bedroom unit.

The newly launched penthouse, which has a price guide of $6.5 million, crowns the 14-level building which features a curved facade designed by bureau^proberts

Andrews Projects release Beach House penthouse in Broadbeach

Consolidated Properties Group has launched its luxury penthouse collection in its $450 million Monarch Residences.

The 11 oversized apartments bookend the Monarch Residences buildings, with eight residences located on the top floors to take in skyline and river views, plus three river homes offering a leafy outlook at the water’s edge.

Priced from $4.15 million through to $12 million for a sprawling 406 sqm apartments, the Monarch Residences Penthouses are more than double the size of the average 186 sqm Australian home.

Consolidated Properties Group Head of Residential James MacGinley said the decision to place penthouses on both the top and ground floors was made to capitalise on the unparalleled location of Monarch, which boasts 130 metres of direct river frontage.

“Traditionally penthouses are reserved for the top floors of the building, but we saw the opportunity to offer something special by creating the river homes, which will have the look and feel of a private, stand-alone dwelling,” he said.

[smartcode_project:default project_id=113455 project_image_fid=212794]

“The two types of penthouses have been designed to appeal to those looking for a hybrid residence which blends the space and comfort of a home with the benefits of apartment living –premium views, a low maintenance lifestyle and luxury amenities.

“The Brisbane market has proven in the past 12 months that there is appetite for our $12 million penthouse which boasts a master suite the equivalent size of a&nbsp; two-bedroom apartment, along with a six car private garage.

“We have also catered for purchasers looking for a low maintenance, yet spacious 250 sqm penthouse on the river.”

Monarch Residences Penthouses are available with a choice of three or four bedrooms, one or two balcony areas and a minimum of three car spaces.

[smartcode_project:default project_id=113455 project_image_fid=211496]

Designed by the renowned teams at Wardle and Cottee Parker Architects, MacGinley says while each penthouse has its own character with plenty of opportunity for personalisation, all boast unparalleled views, privacy and the highest quality finishes.

“Ultra-high 3.4 metre recessed ceilings, expansive living areas and master bedrooms and second lounge areas were all non-negotiable inclusions,” he said.

“European Oak herringbone timber floors and natural stone benchtops create a bright and airy feel in each home, with wrap around balconies and sliding doors helping to bring the outside in.

“Every window has been oriented and framed to capture different views of the river and city, to create bvan artwork-like effect that changes with the time, seasons, colours and activity of the day.

[smartcode_project:default project_id=113455 project_image_fid=211466]

“The cabinetry and storage throughout is also carefully considered - from built-in bookshelves and wine displays through to expansive walk-in wardrobes – these residences are an invitation to enjoy the finer things in life.”

Monarch Residences will also become home to a new riverfront restaurant and café following the restoration of the heritage-listed Middenbury House, which will add to a suite of resident facilities including a riverside pool, gym and sauna, and an expansive rooftop terrace with dining and entertainment areas.

The launch of the penthouse collection follows the successful release of Monarch Residence’s one, two and three bedroom residences, which are now selling priced from $670,000, with many floorplan types disappearing fast.

A $3 million riverfront sales display is now open seven days at 600 Coronation Drive, Toowong.

[smartcode_project_cta:default project_id=113455]

The Monarch Residences Penthouses are more than double the size of the average 186 sqm Australian home.



Consolidated Properties launch Monarch penthouses, double the size of the average Aussie homes

Cbus Property has announced the practical completion of its 17 Spring St residential development on the fringe of the Melbourne CBD.

Architecturally designed by Bates Smart and constructed by Hacer Group, the $300 million development occupies a 1,270 sqm site at the east end of Spring Street, formerly occupied by the Mercure Melbourne Treasury Gardens.

The 33-level tower comprises&nbsp;73 two and three-bedroom apartments, as well as a handful of half and whole-floor apartments each with views overlooking the Treasury and Fitzroy Gardens.

Cbus Property’s Chief Executive Officer, Adrian Pozzo, said that 17 Spring St had set a coveted new benchmark for premium residential apartment developments in Melbourne.

[smartcode_project:default project_id=8666 project_image_fid=77385]

“Achieving practical completion on 17 Spring St marks the momentous conclusion of a journey that began when Cbus Property acquired the site six years ago, following the success of our pioneering 35 Spring St residential project, which sold out off the plan and was completed in 2017,” Pozzo said.

“The overwhelming success of 35 Spring St, another highly esteemed venture with Bates Smart, made it clear there was significant pent-up demand for Melbourne’s premium apartment market.

“17 Spring St has certainly been an equally illustrious journey, with a number of whole-floor amalgamations and new record sales results, as we continue to experience strong owner-occupier demand for premium residences and well-placed product.”

[smartcode_project:default project_id=8666 project_image_fid=77388]

Bates Smart Director, Cian Davis, said that 17 Spring St raised the benchmark that was 35 Spring St.

“We wanted to create a building where the interior and exterior is one fully integrated proposition, adding a timeless building design to the grandeur of Spring Street,” he said.

17 Spring St has become home to around 150 new residents who have access to a resident 25-metre pool and gymnasium on Level 2 and a private dining room, wine cellars and landscaped outdoor terrace on Level 3.

[smartcode_project:default project_id=8666 project_image_fid=212780]

“In addition to Cbus Property’s proven track record as a developer and Bates Smart’s reputation for world-class architecture, the exclusive Spring Street location has enticed myriad buyers seeking a city lifestyle,” Pozzo added.

“At the ‘Paris end’ of the CBD, 17 Spring St has the very best of Melbourne on its doorstep, from the gardens and the sports precinct, to the theatres and the restaurants in the surrounding laneways – and all with the added bonus of convenient accessibility to getting in and out of town.

“Each residence has been designed to savour the magnificent panoramic outlook to the Treasury and Fitzroy Gardens and beyond, with living areas enjoying a strong sense of connection to the outdoors.

[smartcode_project:default project_id=8666 project_image_fid=77387]

“The gardens will never be built out so that view will always be there, providing residents with the priceless opportunity to explore one of the state's oldest heritage-listed public gardens at their doorstep – and in the middle of Melbourne's CBD, no less.”

Victoria’s Minister for Planning, The Hon. Sonya Kilkenny MP, officially opened 17 Spring St during a private event for project stakeholders and residents recently.

Hacer Group commenced site works in December 2019 following the demolition of the former Mercure Melbourne Treasury Gardens hotel.&nbsp;

Cbus Property are seeking a tenant to occupy or buy the 130 sqm ground floor retail space.

Architecturally designed by Bates Smart and constructed by Hacer Group, the $300 million development occupies a 1,270 sqm site at the east end of Spring Street, formerly occupied by the Mercure Melbourne Treasury Gardens

Cbus Property announce practical completion of Melbourne apartment tower 17 Spring St

La Isla, the completed Southport apartment development, is offering its investor buyers a rare six per cent rental guarantee for the first year of ownership.

Eric Machado, Director at Sutherland Group Property who are marketing the La Isla apartments on behalf of developer Draycon, says the rental guarantee will be particularly appealing for investors from Interstate.

"I don't know of any development on the Gold Coast, or even in South East Queensland, which is offering a 6% rental guarantee on purchase," Machado says.

[smartcode_project:default project_id=134731 project_image_fid=213012]

"The guarantee offers certainty for an investor that they will start to see a return straight away."

There are some dual key apartments on offer which have so far been snapped up by local investors, while some are currently occupied and managed by Draycon.

Draycon initially saw the La Isla building as an opportunity to develop and keep the entire project but pivoted to the more traditional selling model given the lack of brand new apartments available on the Gold Coast.

[smartcode_project:default project_id=134731 project_image_fid=213013]

"There's hardly any brand new apartments available on the Gold Coast, never mind projects tailor-made for the investor," Machado added

A portion of the &nbsp;La Isla residents are owner-occupiers, residing in the two and three-bedroom, owner-occupier focused apartments. Most of the owner-occupiers were driven by both the size of the apartments, and the high-end resident amenity on offer.

[smartcode_project:default project_id=134731 project_image_fid=207740]

Crowning the 14-level La Isla is a rooftop infinity pool, a hot tub on the north-east corner and an open entertaining area offering never-to-be-built-out views over the Broadwater, Marina Mirage and Southport Yacht Club. Residents also have easy access to other areas of the Gold Coast, with a tram stop right outside the Queens Street building.

La Isla was complete late last year to a design by architects Burling Brown.

Southport is undergoing a regeneration and opportunities are limited.

[smartcode_project_cta:default project_id=134731]

Eric Machado, Director at Sutherland Group Property, says the rental guarantee will be particularly appealing for investors from Sydney and Melbourne.

La Isla Southport apartments offer rare rental guarantee for investors

Bondi Junction locals Stargate Property Group are set to launch The Centennial Collection, their anticipated two-tower Centennial Park apartment project just off Oxford Street.

Prices already agreed in principal will set a new benchmark for Bondi Junction, Ray White Projects Managing Director Eddie Mansour says.

The Nelson Street project of 73 apartments features a range of high-end inclusions from SJB, from a private rooftop swimming pool to bedroom fireplaces, wet bars, full-size wine fridges and butler’s pantries

[smartcode_project:default project_id=136076 project_image_fid=212615]

Each 10-level building will take in 270-degree panoramic views of the harbour, city skyline, and Centennial Park, with every apartments having its own wrap-around balcony. The project is also located just minutes to Queen Street.

SJB's design was chosen in what was&nbsp;Waverley Councils’ first design excellence competition, prior to development approval being granted in August 2022.

SJB Design Director Adam Haddow conceived the development’s artisan architecture, saying the&nbsp;sculptural organic form of the two buildings feels timeless, reminiscent of rocks worn down over millennia.

“On one of Sydney’s highest points, the buildings have this beautiful sense of elevation right at the edge of the city," Haddow said.

“In the residences themselves, the architecture and interiors are seamless. We have these amazing, highly-tailored, house-like environments; each residence with two or three edges to enhance the outdoor relationship.”

[smartcode_project:default project_id=136076 project_image_fid=212628]

SJB Senior Associate Victoria Judge handled the European-inrpsired interiors, noting that the apartments were designed to be like&nbsp;castles high on a hill.

"Envisioned as comfortable, liveable, house-like apartments featuring separate entry vestibules, wide, generous living areas with fireplaces, bedrooms with ample wardrobes and luxurious marble bathrooms, full room-sized laundries, and lots of natural light and airflow, they provide an elevated apartment living experience,"&nbsp;Judge said.

"Finishes are opulent and refined; generously detailed stonemasonry features softened edges and double bullnose trims, timber veneer joinery features curved corners and bold pediments that together bring an air of traditional monumentality.

[smartcode_project:default project_id=136076 project_image_fid=212621]

"Large format stone flooring in elegant creamy white is complimented by custom chequerboard timber parquetry and silky carpets. We wanted to give the spaces enduring qualities so people can still enjoy them in 10, 15, 20 years’ time.”

Communal facilities in the building will include a rooftop pool with outdoor dining and entertaining spaces and an indoor winter pool. Other facilities include a concierge, cold and dry goods delivery rooms and a wellness hub including a cardio and personal training area.&nbsp;

The building will also have EV charging stations and storage for all residences.

[smartcode_project:default project_id=136076 project_image_fid=212622]

Ray White Projects Partner, Marcello Bo said there is nothing like this level of luxury in this enclave of the Eastern Suburbs.

"Stargate is unequivocally raising the bar on luxury apartment living with this exquisite collection of extraordinary, house-sized residences," Bo said.

"Not a stone has been left unturned in the range of elevated finishes and inclusions being offered.”

The project is set to get underway in mid-2023 and is earmarked for completion by the end of 2025.

[smartcode_project_cta:default project_id=136076]

Each 10-level building will take in 270-degree panoramic views of the harbour, city skyline, and Centennial Park, while also being located just minutes to Queen Street

The Centennial Collection to reset Bondi Junction apartment price benchmark

Since the near year-long downturn ended, which was a few months ago according to most property data analytics firms, Sydney has flown out of the traps following double digit declines.

CoreLogic's Home Value Index showed a further 1.3 per cent growth in dwelling values (houses and units) over April, following 1.4 per cent gains in March.

Now houses are -12 per cent down over the last 12 months, with units back -7.2 per cent. Both markets have shown a considerable bounce back over the last two months, each posting gains of over one per cent month on month.

The end of the downturn is&nbsp;bringing buyers back to an increasingly undersupplied market. Sydney held 570 auctions over last weekend, well down on the 914 held last year. The preliminary clearance rate was just over 70 per cent, the seventh consecutive week the preliminary clearance rate was above 70 per cent.

Off the plan agents are saying the tight supply is assisting in the strong results being achieved all across Sydney, everywhere from St Leonards to Sydney's Eastern Suburbs.

CBRE Residential Projects Managing Director, David Milton, says there’s some strong data out there which is improving market sentiment.

"With the RBA approaching a holding phase, and the huge immigration forecasts, there’s set to be a lot more demand in the market," Milton says.

"People are thinking now is the time to buy. They aren’t wanting to wait another 12 months."

Milton says enquiry hasn't necessarily increased, but the quality of the enquiry and the intentions of those enquiring has been much higher, which is leading to improved conversion rates.

CBRE sold out&nbsp;The Cambrian in Paddington by Robby Ingham on the launch day, all 15 apartments. Now they're readying the full launch of the equally rare Woollahra Collection by Fortis, which Milton says will appeal to the Sydney high-end market.

CBRE are also preparing to launch The Landmark Quarter, the next St Leonards project for New Hope Group.

The three-tower project on Marshall Avenue features a range of one, two, three and four-bedroom apartments, as well as a handful of terraces.

[smartcode_project:default project_id=139897 project_image_fid=212572]

St Leonards has had solid demand in recent months, evidenced in Top Spring's The Newlands, just off Newlands Park.

The Colliers project marketing team recorded a 104 per cent increase in sales in Q1 compared to the same time last year, notably due to the $60 million in sales recorded over a VIP weekend held at Top Spring's The Newlands in April.

Colliers National Director of Residential&nbsp;Blake Schulze says despite mixed market sentiment, the residential market across Sydney’s off-the-plan market has continued to yield strong results.&nbsp;

"We have found that there is strong market participation from local owner occupiers who are opting to purchase in projects close to where they are currently living or working," Schulze says, noting that over 20 per cent of purchasers currently live within five kilometres of the site.&nbsp;

"We are experiencing strong market demand for premium oversized apartments across Sydney, dominated by local owner occupiers and downsizers," Schulze says.

[smartcode_project:default project_id=24509 project_image_fid=203623]

"Over 45 per cent of the three-bedroom stock at The Newlands has sold. These apartments are appealing to young families as the generous bedrooms and living spaces are a key consideration for buyers, in addition to the well curated amenity offering."

The lack of supply in Sydney's eastern suburbs has seen strong enquiry already for The Centennial Collection, the new Bondi Junction project from local developer Stargate.

[smartcode_project:default project_id=136076 project_image_fid=212615]

Ray White Projects Managing Director Eddie Mansour says there's a number of buyers ready to transact even ahead of the public launch on May 4.

"Buyers will be transacting at levels above what Bondi Junction has ever seen, which highlights both the lack of future supply in the area and the high quality product Stargate and SJB Architects have put together," Mansour says.

The lack of supply for anything new in Bondi Beach has seen&nbsp;numerous offers on the AYA Penthouse, the $26 million apartment crowning the Koichi Takada-designed Aqualine in Bondi Beach.

<img alt="AYA penthouse" data-entity-type="file" data-entity-uuid="d70bef9e-f3ee-4fff-a472-906530802c82" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-21%20at%208.25.10%20am.png?VersionId=Rk74nsTTvh24dazQQoUNoEqsiovrJ638" />

Mansour says the majority of buyer interest has been from expats who are familiar with Bondi Beach.

"There was some scepticism in launching such a rare, potentially record-breaking priced apartment, in the current economic climate, but the marketing has gone really well."

In Western Sydney, Ray White Projects Western Sydney Managing Director Mark Bernberg says we're now moving into a stabilisation phase for both property values and interest rates.

"Stabilization is a huge thing in property," Bernberg says.

"It removes the fear of the unknown and the fear of change. That will bring more buyers back into the market in the near term, and after a period of holding, barring external circumstances globally, the RBA will cut interest rates as inflation starts to noticeably come down. Rates coming down always results in prices going up.

[smartcode_project:default project_id=27460 project_image_fid=195123]

"Buyers have more money in their pockets as borrowing capacity pops up. That will in turn see more stock come to the market as developers realise there are more buyers transacting."

McGrath Projects Associate Director Adam Sparkes says they are seeing a strong return of the investor.

"Investors such as sophisticated institutional purchasers and private investors buying through a SMSF through to first time investors are all seeing now is an excellent time to buy into a high quality development for a medium to long term hold," Sparkes says.

"The consumer is now more researched than they ever have been – we treat all new enquiry (owner occupiers or investors), coming to our team as a ‘white hot lead’," Sparkes says.

[smartcode_project:default project_id=94147 project_image_fid=197738]

"As a general theme all are seeking high quality construction and a strong track record from the team behind a given development – both seen as crucial elements when considering buying a brand new or off-the-plan dwelling."

Sparkes is marketing Grand Reve by Kassis Homes, who are offering purchasers a 10-year structural defect policy,&nbsp;one of the first apartment towers in NSW in more than two decades to be given an insurance policy against building defects.

"This provides a genuine level of comfort for the consumer and has resulted in new sales from older enquiry now recognising quality will prevail – not only from the team behind the development, but the added safety of such an Insurance policy," Sparkes says.

City Beat May 2023: Sydney sees strong off the plan sales activity 

Following a property boom, capital cities tend to see prolonged contractions in the market, generally driven by an affordability pinch.

It's happened in Sydney and Melbourne, with values coming back over -10 per cent over the last 12 months. The COVID-induced boom however saw some Sydney suburbs see gains of over 50 per cent.

While the Gold Coast saw values spike due to the huge number of interstate migrants either working remotely for years or making the permanent move to the coastal hotspot, the anticipated end of the growth cycle has many believing there's a new entry point which prices won't go back below.

That's been recently reaffirmed with new data from property data analytics company CoreLogic, who suggest unit values are just -3.5 per cent lower than they were this time 12 months ago. In fact, the value of units has grown over the last two months. CoreLogic's Home Value Index found Gold Coast unit values rose 0.1 per cent in March and a further 0.8 per cent in April.

The median value of an apartment on the Gold Coast is now $654,000, according to CoreLogic.

A lot of agent feedback is positive, with demand in most areas still outstripping supply.

Pezet Matheson Managing Director Jayde Pezet says they had a strong run of sales between Coolangatta and Main Beach across April.

"In Coolangatta, Esprit, Rhythm Kirra Hill and Rockpool saw a great run of unconditional sales over the past four weeks, whilst Lagoon Main Beach commenced construction which ignited a string of extremely qualified enquiries that resulted in sales," Pezet says.

[smartcode_project:default project_id=108747 project_image_fid=198830]

Pezet says lead flow has softened, however&nbsp;the quality of leads is much stronger, with a solid conversion rate for projects that are currently under construction and being undertaken by credible developers with highly credentialed consultants.

"We see a steady back end to 2023 for projects that are well funded, commenced construction with well-known builders and that have a robust team to deliver," Pezet added.

Demand is still alive at the high end of the market too,&nbsp;NPA Projects Director Andrew Erwin says.

"Despite ongoing concerns with construction certainty, the Gold Coast luxury apartment market has been remarkably vibrant leading into and post Easter, with downsizers and relocators motivated to find a suitable project with completions forecast for 2024/25," Erwin says, adding that there is&nbsp;a sense that new markets will emerge with international interest spiking.

[smartcode_project:default project_id=108982 project_image_fid=210142]

Ray White Head of Projects Caitlin Rosenboom says the Gold Coast&nbsp;residential market continues to outperform others around the country due to a number of key principles.

"The combination of domestic population growth due to continuing interstate relocations; and international migration, which is steadily returning to pre-pandemic levels, puts increased demand on an already critically undersupplied property market," Rosenboom says.

"Investors in particular are keen to purchase property off the plan on the likely assumption that demand will continue to outstrip supply in the foreseeable future, suggesting steady and continuing capital growth and, of course, excellent investment yields. &nbsp;

"With the volume of development applications continuing to slow and fewer residential projects being launched, those who purchase off the plan in successful projects will reap the rewards.”

Urban.com.au data showed a further increase in buyer interest for Gold Coast off the plan property from New South Wales. There was also increased levels of search demand from Queensland. which is starting to trend upwards following a sharp decline in search at the start of 2022.

Seven of Queensland's top 10 most searched suburbs by interstate property buyers were on the Gold Coast. Broadbeach was again the most popular, followed by Burleigh Heads, Coolangatta, Palm Beach, Surfers Paradise, Kirra, and Main Beach.

<img alt="Urban QLD interstate data" data-entity-type="file" data-entity-uuid="3dac7d6b-2272-46fa-880f-79ead48a068a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-02%20at%203.42.09%20pm.png?VersionId=mlpCoAELos4h1z65UIIv35lyohv8FkKj" />

Urban.com.au CEO Mike Bird says the Gold Coast has a long and interesting road ahead of it.

"What tells me there’s legs in the market is some of the best developers both in Australia and internationally are developing in the burgeoning area," Bird says.

"Tim Gurner and Harry Triguboff are two of our most prolific developers, and they’re contributing thousands of apartments to the skyline, while international developer SPG Land is also bringing the same level of density.

"Even a member of the UK Royal Family picked Main Beach as their first ever project in Australia. That to me suggests there's more growth in the local market, from local, interstate, and international buyers." 
&nbsp;

&nbsp;

A lot of agent feedback is positive, with demand in most areas still outstripping supply

City Beat May 2023: How the Gold Coast unit market continues to hold firm following COVID boom

National property developer Kokoda Property has acquired the last remaining riverfront site in Brisbane’s Teneriffe, breaking the record for the largest sale ever recorded in Brisbane’s history.

Located at 17 and 27 Skyring Terrace, the unique site spans an extensive 17,600 sqm, offers 6,000 sqm Wet Lease and over 200 sqm of direct river frontage and upon completion, will be transformed into a $1.75 billion mixed-use development that will activate the waterfront at a scale not yet explored.

Kokoda’s vision for the site comprises apartments and townhouses, a waterfront office tower, a luxury hotel in partnership with an international hotel brand, a retail precinct comprising high-end luxury retail and F&amp;B, and a&nbsp;marina, connecting the expanding Brisbane riverwalk replete with waterfront hospitality, retail and dining.

The development will also continue to support the local community with upgraded public amenities and the Community Hub.

Teneriffe is a suburb rich in history and today, is known as Brisbane’s most expensive suburb with a median house price in excess of $2.9 million.

Kokoda Property Founder and Managing Director Mark Stevens said Brisbane is primed for rapid growth and the Skyring Terrace site will play a pivotal role in the revitalisation of the Newstead and Teneriffe Waterfront Neighbourhood Plan.

“This site has been tightly held for nearly four decades and the potential it offers is unparalleled in terms of creating a major mixed-use waterfront development at a scale that is never to be repeated," Stevens said.

“We are incredibly active in Brisbane and expanding our portfolio due to the surging population growth. Queensland has experienced the highest interstate migration growth in the nation and with the 2032 Olympic Games on the horizon, coupled with a buoyant jobs market, Brisbane is primed for a development of this scale.

According to Charter Keck Cramer’s latest State of the Market report for Brisbane, Brisbane apartment completions and commencements have fallen to an all-time low. Coupled with the strong population growth forecast, the Brisbane market is expected to remain in short supply relative to demand.

Less than two years ago Kokoda completed its first Brisbane project Chester &amp; Ella, a $300 million residential development and last month, called for settlements at The Ambrose, a $165 million residential project. Both projects are sold.

[smartcode_project:default project_id=6313 project_image_fid=208662]

Other Brisbane projects include Refinery House - a $12 million transformation to a heritage-listed home, and the <a href="/news/qld/kokoda-secure-prime-milton-site-for-cottee-parker-designed-apartment-tower">newly acquired site in Milton</a> with a total value of around $160 million. Kokoda are also developing the 200-apartment mixed-use precinct The Malvern Collective in Melbourne's Malvern.

The Skyring Terrace deal was brokered by Elliot O’Shea, Director - Head of Middle Markets Queensland and Seb Turnbull, Head of Capital Markets - Queensland / Executive Director, Capital Markets - Australia, both from JLL. Prior to Skyring Terrace, the most expensive site to be sold was in West End, which was brokered for $87 million in 2014.

Kokoda Property is currently in the planning and design phase for Skyring Terrace and hopes to launch an expression of interest campaign in late 2023.

Kokoda Property Founder and Managing Director Mark Stevens said Brisbane is primed for rapid growth and the Skyring Terrace site will play a pivotal role in the revitalisation of the Newstead and Teneriffe Waterfront Neighbourhood Plan



Kokoda snare last remaining riverfront in Teneriffe for mixed-use development

Everything is pointing to a prolonged growth cycle in the Melbourne property market.

From immigration forecasts to supply issues, with a sprinkle of increase buyer demand now the RBA has signalled the official cash rate is close to its peak, the belief is that Melbourne property is ready to boom.

First and foremost, the markets look to have bottomed. CoreLogic's Home Value Index showed another month of stable values, a modest 0.1 per cent gain in unit values and 0.2 per cent in house values as markets recover from a near year long downturn.

And as quickly as the markets showed signs of recovery, buyers have been back in force. Melbourne was the busiest auction market this week, with a preliminary clearance rate of 78 per cent, the highest clearance rate the Victoria capital has seen since October 2021.

“There’s countless reasons to be confident about the short, medium, and long term prospects of the apartment market in Australia, particularly in Melbourne," Apartments.com.au Chief Executive Mike Bird says.

"The immigration numbers forecasted will put huge pressure on the government to act, as there’s simply not enough housing, both currently and in the pipeline, to keep up with population growth. We've got a range of government incentives for buyers, but developers need to be incentivised to build.

Melbourne recently overtook Sydney as Australia’s most populous city, the first time since 1905 Melbourne topped the charts. Melbourne had been outpacing Sydney for the last decade, primarily down to international migration. The 2021 Census suggests there are 4.875 million who call Melbourne home, a number which will reach around eight million by 2051.

Projects by Buxton Director Heath Thompson says he doesn't believe we're having to look into a crystal ball anymore when predicting the next phase of the Melbourne property market.

"It takes about 4-5 years to realise a project, and that's if people are transacting on sites now, which we know they're not," Thompson says, suggesting we're around 5-6 years away from supply even remotely keeping up with demand.

[smartcode_project:default project_id=112375 project_image_fid=204404]

"Cost of construction isn't coming down, development approvals are down, building starts are down, and there's no sign of that changing anytime soon. Any project being built now is gold really, because the next one has to be more expensive than the last, or it won't be built."

Sunkin's Head of Sales and Marketing, Scott Jessop, says in this current environment of low supply, it doesn't seem to matter where the projects are located, there's a strong response everywhere.

"There’s always key locations and blue chip suburbs, but currently there’s not an area of the market that isn’t seeing demand, which is evident in auction clearance rates consistently sitting over 70 per cent," Jessop says.

[smartcode_project:default project_id=108019 project_image_fid=212514]

While rate hikes are all but over, Jessop says there are still some buyers who have issue with finances, many who have seen their budgets cut by 10 to 20 per cent in the last 12 months. He does however suggest more prospective buyers, who were maybe keen on sitting on their hands in the short term, have moved into "decision mode" following the pause from the RBA.

Sunkin have had a great response to their soon-to-be launched Highett masterplan, Highett Commons, with over 300 enquiries just through the project website. They'll be launching the sustainability-focussed project mid-May.&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=212557]

Highett Commons will assist in Melbourne's chronic supply issues.

Charter Keck Kramer found that around 13,500 apartments need to be built each year in Melbourne to support the population growth. There were just 6,300 apartments completed in 2022 in Metro Melbourne, across 94 projects.

Marshall White Director Leonard Teplin says the population surge has created a supply and demand imbalance.&nbsp;

[smartcode_project:default project_id=8945 project_image_fid=178925]

"The immigration and housing crisis in Australia is worsening, particularly in Melbourne," Teplin says.

"The government has pledged to build 10,000 homes a year, but with millions of visa applications pouring in, more effective action is necessary.

Teplin believes that, while short-term fluctuations may occur, Melbourne's population growth and limited housing supply are expected to sustain demand for new construction and off the plan properties.

"The current market conditions present investment opportunities in Melbourne's property market.”

RPM Projects Director Nic Cuni says townhouses, or boutique apartment projects, have been in favour in 2023. Cuni says he's seen a large difference however in what has always been deemed as "inner-city".

"Typically inner-city has been between 2-10 kilometres from the city, but we’ve been finding recently, due to the affordability issues in Australia, that is now extended a little bit further out."

Cuni has found success in RPM Group's first project their newly formed project marketing division has launched, DM Property's Early 3191.

[smartcode_project:default project_id=138081 project_image_fid=209564]

The 35 Rothelowman-designed townhouses are exactly what buyers want in Bayside, Cuni says.

"Buyers want the postcode without the price tag. They want to get into the suburb they love, that they can get their favourite coffee, food etc, but pay less than the average house price."

An uptick in enquiry and buyer presentations has been seen by Next Chapter Projects Director Tom Hirini, which is translating into a moderate increase in sales. Hirini however says there's still a small element of buyer hesitancy given how well researched buyers are nowadays.

"Buyers are still very alert to the challenges the construction industry is facing with increasing material costs and labour shortages," Hirini says.

[smartcode_project:default project_id=112765 project_image_fid=200556]

"Confidence behind the developer and builder has never been more important to purchasers.

"I can see the sentiment towards off-plan purchases improving significantly once the headwinds the construction industry is facing abate."

From immigration forecasts to supply issues, with a sprinkle of increase buyer demand now the RBA has signalled the official cash rate is close to its peak, the belief is that Melbourne property is ready to boom.

City Beat May 2023: Prolonged growth cycle for Melbourne's off the plan apartment market?

<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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