Residential cranes across Australia's capitals and major cities are still at near peak levels,&nbsp;Rider Levett Bucknell (RLB's) Q1 2023 Crane Index found.

The residential index representing the number of cranes on residential projects across the country has eased off very slightly from 172 index points to 171 index points. The results are similar to those recorded in the 2015-2017 property boom.

Over the last six months, 292 new cranes were added to new development sites, but 300 were removed from projects nearing completion. There are 835 cranes up across the country, a 3.8 per cent decrease from the 868 cranes in RLB's last edition of the report. The 835 cranes in the Q1 2023 report is still the second highest number of cranes seen since the inception of the RLB Crane Index in 2012.

<img alt="RLB Crane Index" data-entity-type="file" data-entity-uuid="f73284eb-c266-4b5d-9663-32255f086672" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-04-11%20at%2010.17.24%20am.png?VersionId=GiuC9xZZuTCaDW1zSSI5DYMyGPEqszPQ" />The number of cranes across Australia. Image credit: RLB Crane Index Q1 2023

Domenic Schiafone, RLB’s Oceania Director of Research and Development said the continuing strong number of cranes observed correlates with the strong national activity numbers.

<h2>Large fall in crane numbers in Melbourne CBD, but residential cranes holds firm</h2>

Melbourne recorded a fall of eight per cent in the Q1 2023 RLB Crane Index.

Across Melbourne, a total of 84 new cranes were added to projects, and 101 cranes removed, representing a net loss of 17 cranes across the region, bringing the current number of cranes to 189, down from 206 recorded in the previous edition.

[smartcode_project:default project_id=4522 project_image_fid=208465]

There were two less cranes for residential projects across Melbourne compared to the Q3 2022 Crane Index. Approval values grew over the 2022 calendar year, up 1.5 per cent.

"The apartments sub-sector saw total approvals grow by 42.8 per cent to $6.1 billion, although still below CY 2017 peaks,"&nbsp;Schiafone noted in the report.

[smartcode_project:default project_id=27728 project_image_fid=173913]

The report found that inner-city remains the region with the highest prevalence of cranes, accounting for 44 per cent of all of Melbourne’s cranes.

Residential cranes in Melbourne account for 53 per cent of crane activity.

To read more about Melbourne crane activity, click here.

<h2>Sydney still the main driver of crane count, but residential tapers off</h2>

Sydney continues to be the main driver of the crane count. Of the 836 cranes sighted across Australia, 365 were in Sydney.

But the residential pipeline in Sydney is shrinking. Approvals for houses were up 2.3 per ent, but apartment approvals were down by 23.1 per cent.

[smartcode_project:default project_id=108896 project_image_fid=180669]

The residential sector saw a total of 78 cranes removed and 65 new cranes added, bringing the overall number of cranes in the sector down to 246 cranes.

Inner Sydney (CBD &amp; Surrounds) saw the addition of only 18 cranes, against the removal of 27 cranes. This brings the total number of cranes down to 89 cranes. Losses were almost entirely attributed to the residential sector, which recorded a net decrease of 13 cranes.

[smartcode_project:default project_id=9302 project_image_fid=188219]

Sydney's crane activity is still the second highest on record.

To read more about Sydney's crane activity, click here.

<h2>South East Queensland reaches a new high</h2>

The crane count in Brisbane declined slightly during Q1 2023, down by five cranes from 35 to 30.

The residential sector continues to be the largest in Brisbane, accounting for 39 per cent of all cranes (30 of 77 cranes), slightly lower than the 43 per cent share recorded in the previous count.

Schiafone says it is interesting to note that that the current 39 percent share that the residential sector maintains in Brisbane is significantly lower than both Melbourne and Sydney, where residential cranes account for 53 per cent and 67 per cent of each city respectively.

[smartcode_project:default project_id=112020 project_image_fid=198798]

While Brisbane recorded a net loss in overall crane numbers, the Sunshine Coast and Gold Coast have performed stronger, bringing the total number of cranes across South East Queensland to a new high of 153 cranes.

Queensland should see a strong pipeline of activity over the next few years, with approval values for 2022 growing 6.2 per cent compared to 2021.

To read more about the South East Queensland crane activity, click here.

Over the last six months, 292 new cranes were added to new development sites, but 300 were removed from projects nearing completion

Joel Robinson

Residential crane count across Australia still near peak: RLB Crane Index Q1 2023

The Melbourne unit market saw positive growth over March, as both city-wide and national values look to have bottomed.

Values of units, which incorporates both apartments and townhouses, rose by 0.4 per cent across the capital, according to the latest CoreLogic Home Value Index (HVI).

It followed a pattern of softening declines. January saw values contract -1.1 per cent, before a <a href="/news/vic/city-beat-melbourne-unit-market-insights-for-february">much stronger February of just -0.2 per cent</a>.&nbsp;

Values are now just -0.9 per cent down year to date, and -5.5 per cent annually, considerably better off than the housing market over the last 12 months which declined -10.5 per cent. The Melbourne housing market is too on the recovery, posting 0.6 per cent gains over March.

Projects by Buxton Director Heath Thompson says the March quarter stats&nbsp;are good news, and appear to be showing that the market has either bottomed out or is very close to it.

"There is no doubt that the prices have been protected by record low stock levels but, the lack of new property in the pipeline suggests that rents will continue to increase and demand will be boosted as immigration continues to build and prices of new property will have to increase to support constructions costs," Thompson says.

"The alternative is that new property is simply not delivered which will further inflate the value of the property that exists as the supply and demand balance tips."

[smartcode_project:default project_id=5495 project_image_fid=190763]

Scott Jessop, Sales and Marketing Director Sunkin, who are preparing to launch their 1000-dwelling masterplan in Highett, says the market is boiling up to be a perfect storm.

"When you mix the supply issues with the plight in the construction industry, and the forecasted growth in the immigration, there’s simply not enough housing," Jessop says.

"We’re still around three to four years behind getting back to a sustainable amount of properties being delivered every year.&nbsp;

[smartcode_project:default project_id=31946 project_image_fid=211061]

"VIC has probably been one of the most undersupplied states in the whole country since 2017 when the Labor Government made the stamp duty changes and foreign tax policies. They didn’t listen to every expert, forecaster, developer, and now we have a chronic shortage in housing. If the RBA pause rates then look out.

"I’m very bullish about the Melbourne property market as a whole.”

CoreLogic's HVI showed that Melbourne dwelling values (which incorporates both houses and units), are the closest to pre-COVID levels compared to all of the other capital cities.

Across the country, values were up 0.6 per cent in March, the first rise since April 2022.

Dwelling values were higher across the four largest capital cities and most of the broad ‘rest-of-state’ regions, led by a 1.4 per cent gain in Sydney.

[smartcode_project:default project_id=108019 project_image_fid=210127]

CoreLogic’s Research Director, Tim Lawless, put the rise down to a combination of low advertised stock levels, extremely tight rental conditions and additional demand from overseas migration.

“Although interest rates are high and there is an expectation the economy will slow through the year, it’s clear other factors are now placing upwards pressure on home prices,” Lawless said.

“Advertised supply has been below average since September last year, with capital city listing numbers ending March almost -20% below the previous five-year average. Purchasing activity has also fallen but not as much as available supply; capital city sales activity was estimated to be roughly -7% below the previous five-year average through the March quarter.

“With rental markets this tight, it’s likely we are seeing some spillover from renting into purchasing, although, with mortgage rates so high, not everyone who wants to buy will be able to qualify for a loan. Similarly, with net overseas migration at record levels and rising, there is a chance more permanent or long-term migrants who can afford to, will skip the rental phase and fast track a home purchase simply because they can’t find rental accommodation.”

<a href="/news/vic/city-beat-melbourne-unit-market-insights-for-february">Read more:&nbsp;City Beat: Melbourne unit market insights for February</a>

Projects by Buxton Director Heath Thompson says the March quarter stats are good news, and appear to be showing that the market has either bottomed out or is very close to it

City Beat: Melbourne unit market insights for March

The RBA halted their aggressive cash rate increases at the April meeting, opting to not hike rates for an 11th consecutive time.

They left the cash rate unchanged at 3.6 per cent.

Below is the RBA statement by RBA Governor Philip Lowe.

At its meeting today, the Board decided to leave the cash rate target unchanged at 3.60&nbsp;per&nbsp;cent and the interest rate on Exchange Settlement balances unchanged at 3.50&nbsp;per&nbsp;cent.

This decision follows a cumulative increase in interest rates of 3½&nbsp;percentage points since May last year. The Board recognises that monetary policy operates with a lag and that the full effect of this substantial increase in interest rates is yet to be felt. The Board took the decision to hold interest rates steady this month to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook.

Global inflation remains very high. In headline terms it is moderating, although services price inflation remains high in many economies. The outlook for the global economy remains subdued, with below-average growth expected this year and next. The recent banking system problems in the United States and Switzerland have resulted in volatility in financial markets and a reassessment of the outlook for global interest rates. These problems are also expected to lead to tighter financial conditions, which would be an additional headwind for the global economy.

The Australian banking system is strong, well capitalised and highly liquid. It is well placed to provide the credit that the economy needs.

A range of information, including the monthly CPI indicator, suggests that inflation has peaked in Australia. Goods price inflation is expected to moderate over the months ahead due to global developments and softer demand in Australia. Meanwhile, rents are increasing at the fastest rate in some years, with vacancy rates low in many parts of the country. The prices of utilities are also rising quickly. The central forecast is for inflation to decline this year and next, to around 3&nbsp;per&nbsp;cent in mid-2025. Medium-term inflation expectations remain well anchored, and it is important that this remains the case.

Growth in the Australian economy has slowed, with growth over the next couple of years expected to be below trend. There is further evidence that the combination of higher interest rates, cost-of-living pressures and a decline in housing prices is leading to a substantial slowing in household spending. While some households have substantial savings buffers, others are experiencing a painful squeeze on their finances.

The labour market remains very tight. The unemployment rate is at a near 50-year low and underemployment is also low. Many firms continue to experience difficulty hiring workers, although some report an easing in labour shortages and the number of vacancies has declined a little. As economic growth slows, unemployment is expected to increase.

Wages growth is continuing to increase in response to the tight labour market and higher inflation. At the aggregate level, wages growth is still consistent with the inflation target, provided that productivity growth picks up. The Board remains alert to the risk of a prices-wages spiral, given the limited spare capacity in the economy and the historically low rate of unemployment. Accordingly, it will continue to pay close attention to both the evolution of labour costs and the price-setting behaviour of firms.

The Board’s priority is to return inflation to target. High inflation makes life difficult for people and damages the functioning of the economy. And if high inflation were to become entrenched in people’s expectations, it would be very costly to reduce later, involving even higher interest rates and a larger rise in unemployment. The Board is seeking to return inflation to the&nbsp;2–3&nbsp;per&nbsp;cent target range while keeping the economy on an even keel, but the path to achieving a soft landing remains a narrow one.

The Board expects that some further tightening of monetary policy may well be needed to ensure that inflation returns to target. The decision to hold interest rates steady this month provides the Board with more time to assess the state of the economy and the outlook, in an environment of considerable uncertainty. In assessing when and how much further interest rates need to increase, the Board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.

The RBA halted their aggressive cash rate increases at the April meeting, opting to not hike rates for an 11th consecutive time.

RBA holds official cash rate at April meeting

National developer Goldfields has secured approval for its 24-level Chatswood tower, The Bryson.

The mixed-use tower, which will offer 70 apartments and commercial spaces, is one of the first approved&nbsp;first approved developments under the Chatswood CBD Planning and Urban Design Strategy.

Colliers are already fielding wide-ranging demand, with onsite demolition due to commence April.

Designed by Make Architects to strike a balance between city living and quiet retreat, <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson</a> will incorporate a mix of one, two and three-bedroom apartments, each with open plan living spaces that open to balconies.

[smartcode_project:default project_id=21170 project_image_fid=210274]

CEO of <a href="/developers/goldfields-group">Goldfields</a>, Lachlan Thompson, said approval of The Bryson marked a significant milestone for the increasingly diversified developer and its growing pipeline of projects.

“Sydney’s Lower North Shore has become one of the most sought-after places to live and work in Australia and we see this trend continuing well into the future,” Thompson said.

“We saw an unmissable opportunity to bring high-quality mixed-use residential space to an area that is demanding it.”

Chatswood sits at the commercial and residential heart of Sydney’s Lower North Shore, eight kilometres north of Sydney’s CBD.

The Bryson is situated 400 metres from Chatswood Railway Station and the Westfield Chatswood shopping centre. The Willoughby City Council population forecast for 2023 is 78,783, and is forecast to grow to 87,415 by 2036 – representing 10.96 per cent growth.

[smartcode_project:default project_id=21170 project_image_fid=210275]

Ian Bennett, Director of Residential at Colliers, said the <a href="/new-apartments/chatswood-nsw-2067">Chatswood</a> market was going from strength to strength.

“With the launch of The Bryson, this has been the first time in about five years that an apartment project of this scale and calibre has been brought to the Chatswood market from an off the plan perspective,” Bennett said.

Around 30 per cent of The Bryson sold at launch, equating to $25 million in sales. Bennett said the success was an indication of the strong demand for apartments in the Chatswood market.

He said in the last 18 months, sales activity was driven by downsizers and families purchasing three-bedroom, premium apartment stock as an alternative to increasingly expensive existing residential housing.

But early activity in 2023 has seen one-and two-bedroom apartments proving just as popular, with sales at The Bryson spanning a diverse range of product purchased by a wide range of local buyers including first homebuyers, young executives, downsizers and investors. There has even been early interest from FIRB purchasers.

[smartcode_project:default project_id=21170 project_image_fid=210265]

“At one stage last year, the price gap between existing houses and apartments was over 100 per cent,” Bennett said, suggesting that traditionally that number is around 40 per cent.

"It has probably come back to about a 70 per cent gap this year, but still there is a long way to go for that gap to get back to what we would call normalcy. This shows just how much value for money there is in off-the-plan at the moment compared to existing residential and we are seeing this on the ground in Chatswood.”

Current and prospective buyers were drawn to Chatswood’s close proximity to the CBD and major universities, strong transport connections and growing infrastructure pipeline.

“A lot of the people that we are speaking to are wanting to upgrade, or right-size I guess is more accurate because they’re not of retiree age,” Bennett said.

“These are people who currently live a little further up the train line, up the Pacific Highway in places like Pymble, Turramurra or Lynfield, and they are looking to be more central. Chatswood is almost like a city now, so they see the area as being almost the town centre. The new Metro coming through is seen as a real 
advantage too.”

[smartcode_project:default project_id=21170 project_image_fid=210267]

Simon Lincoln, Asia Pacific Director at Make, said The Bryson’s striking vertical form would be “a great addition to the Chatswood skyline and deliver beautiful living spaces, prioritising wellbeing for residents with a real focus on space and amenity”.

Exclusive Skyhome and Penthouse residences will feature walls of operable glazing between expansive open plan living spaces and generous balconies, providing panoramic views while retaining privacy.

A pool terrace with rooftop gardens, outdoor furniture, barbecue facilities and sweeping views across the surrounding Chatswood CBD enhances the feel of an urban resort. Ground floor retail will act as a threshold between the vibrant Chatswood neighbourhood and the private residences above. Strata office suites will be located on level 2 and 3.

[smartcode_project_cta:default project_id=21170]

Ian Bennett, Director of Residential at Colliers, said the Chatswood market was going from strength to strength

Goldfields secure approval for Chatswood apartment development, The Bryson

Melbourne developer Golden Age Group has achieved $35 million in sales for its second Glen Waverley project, Floret

Offering 77 architecturally-designed townhouses, Golden Age’s vision for <a href="/buildings/floret-glen-waverley-583-ferntree-gully-road-glen-waverley">Floret</a> is to enliven the sought-after area with vibrant greenery, while continuing to raise the bar for residential design.

The average price point of sales to date ranges from $1.1 million to $1.6 million. Prices start from $995,000 for the entry-level, three-bedroom townhouses.

<a href="/developers/golden-age-group">Golden Age</a> Founder and Managing Director Jeff Xu said it was a matter of ‘when not if’ the group would bring a luxury townhouse project to market.

“We had a lot of buyers interested in our flagship Glen Waverley project, <a href="/buildings/sky-garden-235-springvale-road-glen-waverley">Sky Garden</a>, but for whatever reason, an apartment doesn’t suit everyone’s preferences," Xu says.

[smartcode_project:default project_id=104680 project_image_fid=207713]

"Before even launching to market, we had a waitlist of buyers interested in a townhouse product, one that embodied the same ethos and design philosophy of Sky Garden."

It was for this reason Golden Age decided to appoint <a href="/architects/rothelowman">Rothelowman</a> as the architect.

Xu said the townhomes respond to the changing needs of the population by providing diverse housing options.

“Glen Waverley is an area predominantly dominated by single-family homes and there is little choice when it comes to townhomes, particularly architecturally-designed homes that offer a premium feel.

[smartcode_project:default project_id=104680 project_image_fid=207722]

“Glen Waverley is such a highly connected suburb and there is appetite for new developments that cater to not only downsizers but young professionals and young families who are priced out of this area. Glen Waverley is an aspirational area that has traditionally been unaffordable; we’re pioneering a product not typically seen here.”

First home buyers and downsizers have been the most prominent buyers in Floret, while investors have shown interest. One investor is looking at securing a number of the townhouses.

“Existing townhouses in Glen Waverley are typically dual occupancy, or feature multiple homes on one lot with no amenities; Floret seeks to put the community at the heart with an array of resident amenities and gardens, located in a secure neighbourhood that is ideal for raising families,” Xu said.

[smartcode_project:default project_id=104680 project_image_fid=207725]

The project features a central open space that spans 1000 sqm, including an open lawn with a walking track, a fitness station, barbecue and picnic area, and a children’s play area.

An entry boulevard of evergreen canopy trees will line the perimeter of the site, while a network of trees will create green corridors across the development site.

Figurehead is due to commence construction this month with completion earmarked for Q1 2025.

Read more:&nbsp;<a href="/news/vic/how-golden-age-are-tapping-into-untapped-markets-five-minutes-with-golden-ages-dandan-zhao">How Golden Age are tapping into untapped markets: Five minutes with Golden Age's Dandan Zhao</a>

[smartcode_project_cta:default project_id=104680]

Golden Age secure $35 million in sales at Floret, Glen Waverley

Compromise isn’t a word used to describe the apartments in AURA by Aqualand, the new $1 billion tower in North Sydney.

The lack of need to compromise is what’s driven a large number of local downsizers to the luxury development, given the combination of both size and design offered in the larger apartments towards the top of the 28-level building.

Roseville residents Henry and Sandra Rolley are downsizing from their family home for the last two decades to take up residency in a sub-penthouse on level 24 of the Walker Street tower.

While technological advancements and the internet have changed the way we market real estate, it was the trusted letterbox drop which alerted the couple to the project.

[smartcode_project:default project_id=30959 project_image_fid=202995]

"We visited the display showroom and spoke to Domenic (AURA by Aqualand's Sales Consultant), and everything fell into place from there," Henry says.

Continuing their due diligence so they could get a true feel for what it would be like to live at AURA by Aqualand, Henry and Sandra visited the hotel behind the project and took in the views from the 11th level.

One of Sandra's highest priorities on her wish list was to overlook water.

"The extensive terracing in the sub penthouse, paired with 180 degree views from inside which take in the water, will create a very calming environment for us," Sandra says.

[smartcode_project:default project_id=30959 project_image_fid=202994]

It was important for the couple to stay within the local area, and AURA by Aqualand offered the best apartment for quality finishes, size, and location. The couple recently bought a share in a boat which is being moored in Bayview, across from the Royal Sydney Yacht Squadron in Kirribilli.

The location was a big tick for the couple, who wanted to remain north of the bridge so they could still keep in touch with their friends who live on the North Shore. They're planning to use the new metro, to be accessed by the future Victoria Cross Station next door, to get around the majority of the time, while the penthouse also offers two parking spaces.

"It's easy to get everywhere from the location," Henry says, adding that he's excited to see the extensive redevelopment of North Sydney when the government infrastructure projects kick off.

"The alfresco dining strips and the regenerated areas of North Sydney on our doorstep have a massive appeal for us.

"We get the best of both worlds with the exciting lifestyle precinct planned for the base of the building, but a calming oasis to come home to above it all."

Read more:&nbsp;<a href="/news/nsw/what-penthouse-buyers-are-looking-for-in-today-s-market-a-look-into-aura-by-aqualand-s-penthouse-collection">What penthouse buyers are looking for in today’s market; a look into AURA by Aqualand’s penthouse collection</a>

[smartcode_project:default project_id=30959 project_image_fid=202986]

Henry has been able to watch the project come out of the ground from the greens at Northbridge Golf Course.

"I've seen the cranes come and I can see the movement on site, which is great," Henry says.

"Soon enough we'll be able to see the level our apartment will sit on which will be an exciting milestone for us."

Coincidentally, a friend who knows one of Aqualand's internal construction team members, is part of Henry and Sandra's Saturday morning riding group, and he can't speak more highly of <a href="/developers/aqualand-australia">Aqualand</a> and their efficiency, which Henry says gives him confidence that the delivery timeframe will be achieved.

[smartcode_project:default project_id=30959 project_image_fid=202656]

Construction of the $1 billion project commenced early last year and is over half way through, with completion slated for mid-2024.

The Rolley's weren't the only local downsizers buying a premium apartment in the project.

A couple of empty nesters departing their Northern Beaches home of 45 years recently secured one of the four-bedroom apartments in AURA by Aqualand. They intend to turn one of the bedrooms into a home office.

It will be a big change for the retiring couple, who bought the house when they were 20. Out with the old and in with the new, as they intend to leave the house and sell their furniture and antiques. They'll be buying all new furniture to better match the space, as well as new art.

The couple will be splitting their time between the apartment, which will be their city base, and their two holiday houses.

They said the whole process of buying off the plan with Aqualand has been a great experience.

Read more:&nbsp;<a href="/news/nsw/how-aura-by-aqualand-adds-a-new-jewel-in-north-sydney-s-crown">How AURA by Aqualand adds a new jewel in North Sydney’s crown</a>

[smartcode_project:default project_id=30959 project_image_fid=203003]

“It was our first time buying off the plan, and Aqualand’s professionalism and high degree of organization and knowledge helped us through the buying journey,” they said.

“We constantly get updates on the project and where it’s up to with construction which is important in this sector of the property market. Everything has been smooth sailing in our first off the plan purchase.”

The extensive community-building curated amenity which Aqualand are developing (a providore, bakery, café and wine bar, an all-day diner and a contemporary Japanese restaurant), were a big drawcard for the retiring couple, who are looking forward to being part of a community and meeting new people.&nbsp;

They're excited to explore the city and immerse themselves in the culture, having lived in the Northern Beaches all their lives.

They'll be constantly entertaining, with kids and grandkids, as well as overseas visitors, all expected to come and stay at the apartment, which effectively has two kitchens with the butler's pantry.

[smartcode_project:default project_id=30959 project_image_fid=202655]

Aqualand Head of Sales and Marketing Alex Adams calls AURA by Aqualand “an heirloom of a building, providing truly rare and unique homes.”

“What was once a beautiful concept is forming into a truly remarkable destination set to be a new masterpiece in North Sydney,” Adams says.

“The elegant forms and curves of the building are taking shape and the installation of the glass frame facade is making its way up level by level.

“A new release of residences, including a selection from our breathtaking penthouse collection is available and now selling, providing a once in a generation opportunity.”

With construction well underway, the main tower will start climbing to its peak at level 28, with the residential levels forming individual apartments with services, internal walls, and bathroom and kitchen fitouts to commence.&nbsp;

[smartcode_project_cta:default project_id=30959]

Roseville residents Henry and Sandra Rolley are downsizing from their family home for the last two decades to take up residency in a sub-penthouse on level 24 of the Walker Street tower

AURA by Aqualand offers exciting new phase for downsizers

Established Melbourne-based residential developer Glenvill and Gold Coast based QNY Group have announced their new joint construction company, Glen Q Constructions, will build their new Broadbeach apartment development,&nbsp;Sunset Residences.

QNY Group and Glenvill joined forces to develop the 21 Broadbeach Boulevard site, in what will be Glenvill's first foray into the Gold Coast apartment market.

They recently launched the 16-level tower, which has just&nbsp;11 full-floor beach residences, one half-floor residence, and a tri-level penthouse with a private rooftop terrace.

They're now set to jointly undertake construction of the project, designed by Contreras Earl Architecture and with interiors by Plus Architecture.

[smartcode_project:default project_id=111843 project_image_fid=209981]

Glenvill are renowned as residential specialists, and are Australia’s most awarded builder. They have a residential pipeline exceeding $2 billion along with a forward order book of construction projects in excess of $250 million.

Glenvill Developments CEO Len Warson says the creation of the entity will ensure Sunset Residences is delivered to an unprecedented standard.

“Glenvill has a 60-year history delivering upmarket residential homes," Warson says.

"We only build homes and apartments, and have unrivaled experience delivering high-end finishes with exceptional attention to detail, which is what is expected in luxury builds like Sunset Residences."

[smartcode_project:default project_id=111843 project_image_fid=209980]

Warson said it became obvious that they needed&nbsp;certainty that the builder on this project would deliver the high level of quality they demanded.

“We soon realised that the only way to ensure that level of quality would be met was by taking on the responsibility of building ourselves - this way we can ensure the end product will not only meet buyers’ expectations but exceed them."

QNY Group Director Anthony Quinn, who has long been an admirer of the Broadbeach Boulevard corner site which will offer uninterrupted 270 to 360 degree view corridors that capture panoramic views from Surfers Paradise to Coolangatta, says&nbsp;Glen Q Constructions is the ultimate culmination of strength through collaboration.

"With Glenvill and QNY Group’s experience combined we have the skillset and resources needed to produce a high-end boutique development," Quinn says.

“The Glenvill brand is known for high quality, reliability and safe delivery and this security combined with QNY Group’s understanding of the residential sector and thorough local knowledge will ensure we deliver a timeless project to be signposted as a new level of luxury for living on the Gold Coast.”

Construction of Sunset Residences is expected to commence in August 2023.

[smartcode_project_cta:default project_id=111843]

They recently launched the 16-level tower, which has just 11 full-floor beach residences, one half-floor residence, and a tri-level penthouse with a private rooftop terrace

Glenvill, QNY Group announce new joint construction company, Glen Q Constructions

Toorak has long been billed as Melbourne's most blue-chip suburb.

It's where the most expensive real estate in the state is located. A recent report by The Australian found there's more billionaires and millionaires in the 250 Rich List living in Toorak than any other suburb in Australia.

The majority of new apartment developments coming onto the market in Toorak generally start at $2 million, and are targeting either the local downsizer, or a downsizer from another neighbouring affluent suburb.

Given the suburb is dominated by families (over 60 per cent according to the latest census), there's been very little opportunity to secure new, or even near new, apartments built this side of even 2010, which makes the latest offering a rare proposition for those trying to enter the Toorak market.

A mix of one, two, three and four-bedroom apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by the ASX-listed development giant Lendlease.

[smartcode_project:default project_id=377 project_image_fid=33603]

An international fund manager secured a number of apartments when the project was completed a few years ago, and is now deciding to sell the assets.

The 2.5 hectare project, aptly named Toorak Park given its located behind the leafy Toorak Park, was designed in collaboration between&nbsp;Denton Corker Marshall and Carr Design Group.

The 16 building-project features extensive landscaping by landscape architecture by Tract. Open space makes up about up a third of the development, which also features a&nbsp;bluestoned plaza with a convenience store and cafe, as well as communal gardens.

[smartcode_project:default project_id=377 project_image_fid=33593]

Denton Corker Marshall director John Denton said the practice took its cues from its local surroundings.

"We looked at the Beatty Avenue shops on one side of the lines and saw we could create a place with its own character on the other side," Denton said.

"We wanted to build a village within a village.

[smartcode_project:default project_id=377 project_image_fid=211687]

"We sought to open up access to the railway station and Beatty Avenue from Orrong Road by creating a central boulevard that is, in effect, a new leafy road in Armadale. The newest area in the neighbourhood will connect with one of the oldest."

There's extensive resident facilities, including a swimming pool and a gym.

Predominantly owner-occupied, Toorak Park sits in one of the area's most connected pockets, just across the road from Toorak Station and just off the lively Orrong Road.

Every one-bedroom apartment on offer has a car park, unheard of in the entry-level Toorak apartment market, which in itself has been unheard of for a number of years.

[smartcode_project_cta:default project_id=377]

A mix of one, two, three and four-bed apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by Lendlease

Toorak Park: A rare opportunity to buy in Toorak's best residential village

Cronulla's beachside is set to receive an influx of new apartments, with two new development applications filed on the beachside.

The two new developments are on Gerrale Street, which has seen a number of new apartment developments since the&nbsp;introduction of the Sutherland Shire Council Local Environment Plan 2015 (SSC LEP).

The most recent application is at 97-105 Gerrale Street, a $30 million shoptop development pictured main and below comprising 30 apartments across a nine-level building and above two retail spaces.

Those plans have been filed by GerDev Pty Ltd, an entity tied to Sahara Projects owner Nick Colys and a Chinese investor.&nbsp;There will be just two two-bed apartments on offer, and 28 three-bedroom units.

Vic Lake Architects Director and Founder Victor Lake noted in the Design Verification Statement submitted to the Sutherland Shire Council that the project&nbsp;sits at a key junction in Cronulla, a gateway to the peninsula.

"The prominent corner position and heritage items make for a challenging and exciting reinvention," the report noted.

To be notified when the project hits sales, <a href="/new-apartments/97-105-gerrale-street-cronulla">enquire here</a>.

<a data-entity-type="file" data-entity-uuid="25f7c0f3-4c28-4dfb-9586-09565748b4a7" href="/new-apartments/97-105-gerrale-street-cronulla"><img alt="Gerrale Street" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-28%20at%208.45.15%20am.png?VersionId=9wD1RMfZZSI3WoKI7pLPPhenPe5gA5Yb" /></a> 
The plans for&nbsp;97-105 Gerrale Street. Image credit: Vic Lake

Lake said that, like most areas in the Sutherland Shire, Cronulla is in a transitional phase due to the adoption of the SSC LEP 2015, adding that over time most older housing stock will be replaced with new ADG compliant developments.

"Gerrale Street in particular has several new residential and mixed development that extend from The Kingsway to the north extending along South Cronulla Park to the round-about to the east," Lake wrote.

"Since the adoption of Council’s LEP2015 assisted by the age of the existing housing stock and the rising price of new apartments there has been a number of larger site amalgamations along Gerrale Street that have forms the new context. All new developments compete with one another to attract greater returns and many with expensive and novel visual solutions, however all strive to provide for essential needs of the end users."

A Heritage Impact Statement was undertaken by Andrew Starr and Associates Heritage Consultants given the building at 97-99 Gerrale Street is a locally registered heritage item.

The new development will retain the facades and some internal fabric of the heritage, but some demolition of heritage fabric is necessary to&nbsp;achieve the outcome of the proposal for the development of the apartments. The plan is to demolish the freestanding shop built in the 1980s and a 1970s apartment building which are currently on the 1,438 sqm, four-site amalgamation.

A more boutique project has been filed up the road at 79-81 Gerrale Street, a revision of a previous proposal which was rejected in 2020 due to the projects bulk, scale and design issues.

Now the developer, TomTome Group Pty Ltd, has filed for 18 apartments across nine levels on a 918 sqm block which has a western frontage to Monro Park and an eastern frontage facing Cronulla Beach and Cronulla Park. It will replace a three-level apartment building.

To be notified when the project hits sales, <a href="/new-apartments/79-81-gerrale-street-cronulla">enquire here</a>.

<a data-entity-type="file" data-entity-uuid="ebad1ea8-40d7-4776-bf16-ed3dee638d0e" href="/new-apartments/79-81-gerrale-street-cronulla"><img alt="CGI of the proposed development " data-entity-type="file" data-entity-uuid="ebad1ea8-40d7-4776-bf16-ed3dee638d0e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-23%20at%204.18.07%20pm.png?VersionId=lG2Qr.Vo9kIa7OPtmnhy.g8ZsOAR0NN7" /></a> 
The proposed 79-81 Gerrale St building. Credit: IDA Design Group.

The landscaping and architectural design have been developed by Design Collective and IDA Design Group.

The new design includes chamfered corners and a setback that mirrors that of the neighbouring buildings to better integrate with the surrounding area.

One one-bedroom apartment will be on offer, along with eight two-bed and nine three-bedroom residences, in addition to 35 car spaces and four bicycle spaces.&nbsp;

<a data-entity-type="file" data-entity-uuid="d7657a90-8975-4391-a7a1-1849346431b8" href="/new-apartments/79-81-gerrale-street-cronulla"><img alt="CGI of the proposed Gerrale St building. Credit: IDA Design Group." data-entity-type="file" data-entity-uuid="d7657a90-8975-4391-a7a1-1849346431b8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-23%20at%204.18.21%20pm.png?VersionId=cUwtrDmCQymWX7tiSl8wNN0k843ZjfIM" /></a> 
The proposed 79-81 Gerrale St building. Credit: IDA Design Group.

The apartments will benefit from direct ocean views to Cronulla Beach, as well as direct access to Monro Park and Cronulla Park.

Drawing inspiration from the nearby coastline for the design, balcony planters and verdant greenery will also help connect the building to the neighbouring parks.

The prominent Sutherland Shire developer <a href="/developers/sammut-developments">Sammut Group</a> is planning a $100 million project at 67 Gerrale Street.

Read more:&nbsp;<a href="/news/nsw/sammut-group-spend-38-million-at-cronulla-for-apartment-development-site">Sammut Group spend $38 million at Cronulla for apartment development site</a>

[smartcode_project_cta:default project_id=137595]

The two new developments are on Gerrale Street, which has seen a number of new apartment developments since the introduction of the Sutherland Shire Council Local Environment Plan 2015 (SSC LEP)

Cronulla apartment pipeline grows with two new beachside developments planned

The tightly held Kirribilli Avenue, which runs from the Harbour Bridge through to the Prime Minster’s Kirribilli House, is set for a rare new luxury apartment development.

Plans have been filed for eight high-end apartments, which will see a the restoration of an inter-war building at 77 Kirribilli Avenue adjoin a new three-level flat building at 75 Kirribilli Avenue. The latter was one of the first buildings in the area, according to town planner Urbis.

That will be demolished and make way for a new five-level building which will home a communal gym, wine room, and five of the eight apartments, including a two-level penthouse which features a rooftop terrace with spa. Next door will be a cinema on the ground level, and a further three units.

There will be seven three-bedroom apartments and one two-bedroom unit on offer in the $9.3 million development designed by EMBECE Studio, in collaboration with GMU Urban Design and Architecture. It will front the&nbsp;the heritage-listed Mary Booth Reserve, which means views of the Harbour Bridge can never be built out. Views of the Opera House are limited, due to the longstanding building next door.

<img alt="Kirribilli" data-entity-type="file" data-entity-uuid="0cc3b19f-2f56-4187-aebc-4a92fd8270fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-24%20at%209.31.03%20am.png?VersionId=IHL6Maj3O95aY7NDRmIk0QqQSQY2qX6l" />

In their plans submitted to the North Sydney council, EMBECE said the the&nbsp;ambitions of the project is to provide eight new high end apartments which are a respectful and elegant addition to the local conservation area, the street and the harbour front.&nbsp;

"A unique site location on the harbour which creates distinctive opportunities for the built form and residential amenity&nbsp;

"The site is a waterfront site and bounded by two distinctively different urban conditions of Kirribilli Avenue and Mary Booth Reserve. These interfaces in the broader context of the harbour location create important considerations for how the building character and residential amenity respond to its setting.

<img alt="Kirribilli" data-entity-type="file" data-entity-uuid="1c81ebc8-4d11-4b39-9a31-20eda3370434" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-24%20at%209.27.25%20am_0.png?VersionId=8pPGgJBpprEEuaYyVk3keVzRWn.HN3RK" />

The Urban Design Report submitted by&nbsp;GMU Urban Design and Architecture&nbsp;said the&nbsp;proposal seeks to deliver elegant, contemporary architectural outcomes that are contextually appropriate, to complement the site and desirable neighbourhood characteristics.

"To the street, the proposed development presents as an existing inter-war building adjacent to a new three-storey residential flat building with high-quality integrated landscape outcomes to complement the streetscape setting.

"The new building at No. 75 presents to the street with simple, elegant contemporary forms paraphrasing the proportions of neighbouring inter-war walk-ups with decorative masonry details, expressed bays and vertical articulation.

"The copper roof is a visual reference to the pitched roof forms found in the area with its profile carefully sculpted to maintain a contemporary elegant expression and minimise visual bulk to the public domain and neighbouring sites."

Town planner Urbis found that 75 Kirribilli Avenue was originally a part of an estate containing the early Victorian cottage, ‘The Dingle’.

"This building was one of the first buildings in the area and was constructed in a vernacular fashion of salvaged metal and other building materials from the Crimean War in the 1850s5 resulting in the colloquial name, the ‘Iron House’. By the late 1800s, the Dingle had its own underground water reservoir, wharf, boathouse, and bathing-house."

Urbis said overall the proposed redevelopment of the subject site will respect the significance of the Kirribilli HCA and will ensure that there are no negative impacts on the vicinity heritage items in the area.

The landscaping has been handled by FORM Architects, who say the&nbsp;landscape design unifies the two buildings through a cohesive garden setting which extends from Kirribilli Avenue and down into the borrowed landscape of the Reserve and the Harbour.

Kirribill Avenue, which is lined with original apartment blocks with gun-barrel views of the Harbour Bridge, has only seen one apartment sale this year and just seven in 2022, which included a $13.5 million sale of a three-bed, 2000-built sub-penthouse with Opera House and Harbour Bridge views.

<h2>Fast Facts:</h2>

<ul>
	<li>Address: 75 Kirribilli Avenue, Kirribilli NSW 2061</li>
	<li>Land size: 1038.1 sqm</li>
	<li>Building Height: 12m</li>
	<li>LGA: North Sydney Council</li>
	<li>Apartments: 8</li>
	<li>1 x 2-bedroom apartment</li>
	<li>7 x 3-bedroom apartment</li>
	<li>Parking spaces: 14</li>
	<li>Estimated cost of work: $9,383,106</li>
</ul>

Plans have been filed for eight high-end apartments, which will see a the restoration of an inter-war building adjoin a new five-level flat building.



First look: New luxury Sydney Harbour apartments planned for Kirribilli

<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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