The Gold Coast's Palm Beach has become an increasingly more difficult proposition for developers in recent years, as the small coastal suburb receives more and more attention on a national scale and land valuations soar.

Development site amalgamation specialists GV Property Group have combined five properties in a line to put together one of the&nbsp;largest development opportunities by land size in the area. They're expecting to see a number of developers submit offers for the 19-27 Philippine Parade site, around the corner from Laguna Park and only a few rows back from the beach.

"Rarely does a parcel of land of this scale, diversity and location present itself in what is arguably one of the most desirable locations in South East Queensland," GV Property's Antonio Mercuri says.

<img alt="GVG" data-entity-type="file" data-entity-uuid="d9063646-4585-4fe4-aed0-b99d1a3864f9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-01%20at%2010.05.18%20am.png?VersionId=U_z.QQTwTDGetHTZsD74dAUtctzUeW5." />

"Palm Beach has respectfully earned itself a reputation for understated laid back luxury. With its beautiful beach front residences, luxury apartments and state-of-the-art waterfront homes, Palm Beach has become ‘the place to be’ and recorded one of the highest increases of median house prices in QLD over the past few years."

Mercuri says it's not only an opportunity to create a mixed-use precinct that will benefit the wider community.

Of the 9,000 plus properties CoreLogic has in Palm Beach, including commercial, retail, industrial, residential and land, only around 100 have a land size of over 2,000 sqm.

Last year GV Property Group sold 1177-1181 Gold Coast Highway, a 1,649 sqm site, to Samy Saad's Dascon for around $14 million. He's <a href="/news/qld/first-look-exclusive-apartment-project-revealed-on-one-of-palm-beachs-biggest-sites">planning a 12-level building with 38 apartments</a>.

<img alt="Samy Saad" data-entity-type="file" data-entity-uuid="9a296449-80db-4a03-8227-632b0b22ebbb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-01%20at%209.19.28%20am.png?VersionId=cb.p9F9O4YQLelIPplTv3_PWaXEd22Mn" />

In 2021, fellow Sydney-based developer Abadeen secured 26 Mawarra Street for near $16 million. That was a 2,000 sqm site, where Abadeen are developing Villea, which will have 69 apartments.

Local project marketers Pezet Matheson were engaged to offer their expertise as to what will be the most beneficial type of development for both developer and buyer, having had success as master agents locally on Seaclusion, The Tally, and The Monroe, as well as S&amp;S Projects' Flow Residences and Esprit in nearby Rainbow Bay.

Pezet Matheson Director Todd Matheson believes the site "represents an incredible opportunity due to its central location and access to the beach, parks, and waterways of Palm Beach."

Matheson suggests the site will best yield a project with one and two-bedroom apartments on the lower levels, and larger apartments for the top floor, as well as rooftop amenity.

"We have seen a shift from larger apartments to smaller more efficient designs on the lower levels, for affordability, with larger apartment designs for the higher levels," Matheson says, also recommending the amenity to be located on the roof so&nbsp;the lower floor apartments with limited views can utilise the roof top to entertain and take advantage of wide open vistas.

Matheson also suggested an&nbsp;addition of a home office design could be a unique and well received layout from the market.

He expects a sales rate of between $9,500 to $11,000 per sqm in the current market, dependent on the final breakdown and finishes of the application.

"Rarely does a parcel of land of this scale, diversity and location present itself in what is arguably one of the most desirable locations in South East Queensland," GV Property's Antonio Mercuri says

Joel Robinson

Developers to swoop on one of Palm Beach's largest sites

The two-level penthouse crowning developer Weiya Holdings' beachfront Northcliffe, Surfers Paradise tower AALTO, is set to be one of the most impressive penthouses on the sought-after Garfield Terrace when completed in 2025.

Priced at $15.8 million, the penthouse, sprawled across levels 35 and 36 of the Conrad Gargett-designed tower, will offer a massive 848 sqm, a price per sqm of under $19,000.

Weiya Holdings Sales and Marketing Director Patrick Pancur says the penthouse will have a number of elements which are unrepeatable on the beach.

"While there's a lot of competition on Garfield Terrace for high-end beachfront stock, AALTO sets itself apart by having one of the best sites on the strip," Pancur says.

"AALTO has 24 metres of beachfront, which the penthouse takes full advantage of with double-storey walls of glass.

[smartcode_project:default project_id=108209 project_image_fid=209922]

"What the penthouse buyer at AALTO also gets is unobstructed views to the south, all the way to Rainbow Bay, that can't be built out because of the protected site across the road, home to the recently extensively renovated&nbsp;Northcliffe Surf Club."

Entry to the apartment is through a private lift lobby, reminiscent of a private top floor suite in a luxury hotel.

Internally the first level of the apartment has 265 sqm of living space, and is primarily dedicated to entertaining spaces.&nbsp;

East of the lift is the main open plan kitchen, living and dining area. In this space there are formal and casual living zones, a striking marble kitchen with butlers pantry, and an accompanying dining area.

[smartcode_project:default project_id=108209 project_image_fid=209925]

It is flanked by double-storey walls of glass that offer gun-barrel views across the ocean. The 232 sqm of external living space is all on this level as well.

Fronting the ocean is an enclosable balcony with more seating, while in the northern part of the penthouse features a private&nbsp;swimming pool with in-pool day beds, and a spa. Beside the pool is a full outdoor kitchen, dining area, and built-in seating zone. A sauna completes the wellness space.

Also on level one of the apartment is one of the five bedrooms, three bathrooms and powder rooms, and a gym.&nbsp;

The second level of the apartment, with a further 351 sqm of living area, is accessed either via private lift, or the striking feature spiral staircase in the formal living zone.

[smartcode_project:default project_id=108209 project_image_fid=209928]

A further four bedrooms are located upstairs, including the master, orientated to the east of the apartment to get the unobstructed views. The master features its own sitting room, walk in wardrobe and dressing room, palatial ensuite with dual everything and a statement tub.

Completing the penthouse is a cinema room, another living space, and a home office.

[smartcode_project:default project_id=108209 project_image_fid=209929]

"There have been a number of prospective buyers wanting more information on the penthouse, and have ended up securing some of the whole floor apartments half-way up the building," Pancur added.

Recently there's been buyers from China and Melbourne.

Weiya are expecting to announce a building partner soon.

[smartcode_project_cta:default project_id=108209]

Weiya Holdings Sales and Marketing Director Patrick Pancur says the penthouse will have a number of elements which are unrepeatable on the beach

Inside the $15.8 million luxury penthouse crowning AALTO, Surfers Paradise beachfront apartment development

After receiving an unprecedented level of enquiry during the pre-release period over the Christmas holidays, Sunset Residences, the luxury Broadbeach Boulevard apartment tower being developed by joint venture partners Glenvill and QNY Group, has officially launched.

Sunset Residences will comprise just 10 full-floor apartments at&nbsp;21 Broadbeach Boulevard, one of the best spots in Broadbeach offering a rare uninterrupted 270 to 360 degree view corridor that captures panoramic views from Surfers Paradise to Coolangatta as well as the hinterland.

A joint venture from Glenvill Developments, who are behind the $1 billion masterplanned YarraBend development in Melbourne, and Anthony Quinn's QNY Group, have teamed up for the first time to bring someone brand new to the in-demand suburb.

As well as the 10 full-floor apartments, there will be a double-storey beach house with a plunge pool, and a three-level penthouse with a private rooftop terrace.

[smartcode_project:default project_id=111843 project_image_fid=209126]

The 16-level building is designed by prominent architects Contreras Earl Architecture, with the interiors designed by Plus Architecture.

Each single-level residence has three bedrooms, three bathrooms plus a study, with all living spaces and bedrooms enjoying the rare privilege of unimpeded ocean views captured through floor-to-ceiling glass windows.

NPA Projects director Andrew Erwin, who has been appointed to market the development, says the project is an A+ real estate opportunity that speaks for itself.

“Sunset Residences enjoys an idyllic location at one of Broadbeach’s most desired addresses where residents are privy to a beachfront position with direct access to the beach and the Gold Coast Oceanway while living in a quiet, tree-lined pocket with no through traffic,” Erwin said.

[smartcode_project:default project_id=111843 project_image_fid=209980]

“This enviable location so close to Surfers Paradise and Broadbeach combined with exceptional view corridors is unheard of on the Gold Coast, making this panoramic gateway site a Blue-Chip real estate opportunity obtainable for a discerning few.

“This is a boutique project with a limited number of premium residences available that won’t be on the market for long so if you are waiting for a sales centre to be built or for construction to commence you will be likely too late.”

Erwin says locals, interstate, and international buyers showed interest during the pre-release phase of the campaign, earmarking&nbsp;the project as a once in a lifetime real estate opportunity.

“There is genuine interest from investors who recognise this project as prime real estate and there are also buyers who are looking to upgrade and call Sunset Residences home.”

[smartcode_project:default project_id=111843 project_image_fid=209982]

Plus Architecture have designed the interiors, while Urbis have been appointed as the landscape architects.

“An A-grade team brings a wealth of experience and expertise to the project,” Erwin added.

“Veteran residential developer Glenvill has spent the last five decades on the forefront of Australian residential design delivering high end luxury residences across the country, including the exclusive billion-dollar master-planned YarraBend development which is currently underway.

“Combine Glenvill’s knowledge and reputation in the residential sector with QNY Group’s invaluable local knowledge, and the expertise of the architect, interior and landscape design teams and you will getting nothing short of an iconic, beautifully constructed, enduring project.”

Full floor residences are available for between $4.35 million and $5.5 million. Construction is scheduled to commence in July 2023.

[smartcode_project_cta:default project_id=111843

As well as the 10 full-floor apartments, there will be a double-storey beach house with a plunge pool, and a three-level penthouse with a private rooftop terrace

QNY and Glenvill launch Sunset Residences, Broadbeach apartment tower

When offices emptied in the midst of the pandemic, seemingly only one thought passed through the minds of city dwellers. "Why don't we live on the Gold Coast?"

Recently released census data from the ABS showed&nbsp;the population of the Gold Coast grew from 555,000 to 625,000 over the five years to 2021, an increase of 12 percent. And that figure is expected to be considerably higher as the mass migration continued throughout 2021 and 2022.

At the time of the 2021 census, over 40,000 people in the Gold Coast worked from home full time, which equated to nearly 14 per cent of those surveyed.

The previous census data, from 2016, showed just 15,000 worked from home, which was less than six per cent of the Gold Coast population at the time.

And while COVID lockdowns are a thing of the past,&nbsp;local developer Ayrton Mansi from Amansi Projects believes there is still a high level of expectation working from home is here to stay, and he's made sure he's accomodating those buyers at his recently launched luxury Broadbeach tower, Nineteen First Avenue.

[smartcode_project:default project_id=110953 project_image_fid=209173]

The 37-level building, which will home just 33 apartments, features an extensive work from home level, complete with work suites, a full boardroom, lounge, library, and even an outdoor entertaining space, which has the potential to be booked for both work functions and private parties.

Mansi believes it is essential to provide these unique spaces in high calibre projects like Nineteen First Avenue on the Gold Coast.

“This wouldn’t have been a feature we would’ve remotely considered five or so years ago,” Mansi says.

“It’s very much a sign of the times - but a great one, in my opinion. People are placing a greater emphasis on their work life balance and that’s what this work from home level offers without compromising on the legitimacy of their work.

[smartcode_project:default project_id=110953 project_image_fid=209075]

“If they need to have clients over for a meeting, perhaps, they simply book the boardroom; if they want to entertain them, the outdoor space is perfect.”

NPA Director Andrew Erwin says he's been waiting a while&nbsp;to see a dedicated work from home level as extensive as the one at Nineteen.

“More and more people are working from home these days, coupled with the growth of the gig economy, but usually it's a makeshift office set up in their lounge or bedrooms," Erwin says.

“This is a purpose built WFH level with all the creativity, opulence and practicality of a city styled workplace, it just happens to be in your building so your commute is literally just a trip down the lifts.”

[smartcode_project:default project_id=110953 project_image_fid=209074]

Erwin says the inclusion of the WFH floor is in direct response to feedback from buyers who are usually relocating from interstate or looking for a second dwelling and workspace.

“People are moving to the Gold Coast for lifestyle reasons but there’s been a bit of a lag when it comes to accommodating their work needs,” he says.

“Sure, the laptop on the balcony is great for a while but it’s not practical long term and right now, the alternative is heading back to the office. This gives people the flexibility of both worlds so I expect interest to be high.”

The building comprises 33 full floor apartments plus a two level penthouse with four bedrooms, private plunge pool, sunken lounge and fire pit.

The full floor apartments have ‘house like’ proportions sitting at 280 square metres and have been purposely designed to feel like a resort, despite being a residential only building.

[smartcode_project:default project_id=110953 project_image_fid=209073]

Danny Juric, Director at Plus Architecture, says the&nbsp;design was heavily influenced by the natural movement and rhythm of the ocean.

“The action of the waves hitting the sand creates dynamic, overlapping forms and is denoted at the lower levels, while at the higher levels, this transitions into a calmer tower form with façade elements that reference the geometry generated by the wind hitting the water to create a gentle ripple," Juric says.

“The approach we’ve taken with the shared spaces of Nineteen First Avenue is to imagine what it would be like to have a holiday year ‘round."

Descon has been announced as the builder for the project and construction is expected to commence imminently, with completion slated for early 2025.

[smartcode_project_cta:default project_id=110953]

Mansi believes it is essential to provide these unique spaces in high calibre projects like Nineteen First Avenue on the Gold Coast

Nineteen First Avenue: The luxury Broadbeach apartment tower catering to the work from home trend

National developer Goldfields' first foray into the Brisbane apartment market was no snap decision.

It's taken the prominent diversified developer years to put the plans together, seeking local market insights from the Colliers QLD team on the correct product mix for current market conditions.

Colliers International Australia’s Andrew Scriven, who will be heading the sales team for 33 Manning in Milton, believes the landscape has shifted significantly in residential real estate in the last two to three years.

Scriven says developers now needed to be “smarter and more considered, not only when finding opportunities but in seeing them through”.

“COVID brought with it changes that we didn’t expect but also provided opportunities we didn’t see, initially in the house and land space but subsequently in the apartment space as people chose to change the way they live,” he says.

“This could be changing states or downsizing from a larger house. This has created opportunities for developers and one of those has been tapping into previously undersupplied markets.”

As part of the consulting team behind 33 Manning, Scriven points to a combination of data insights and deep geographical and sector expertise being more valuable than ever before.

In-depth data analysis formed a critical part of the development of the new 18-storey, 131-apartment building. The insights gained helped inform the location, design and offering of the residential tower.

[smartcode_project:default project_id=108736 project_image_fid=209694]

“Population growth is a key indicator for changing consumer behaviour and it’s hard to ignore the opportunities offered by the explosive population growth in South-East Queensland and Brisbane over the past two years," Scriven says.

"Net interstate migration exceeded 30,000 people in 2021 and population growth in Queensland was recorded at 1.6% 1 ”.

Considered alongside the lack of available of stock within the western suburbs of Brisbane, Goldfields, development partner Icon, and Colliers saw an opportunity for maximising the post-COVID market.

Scriven believes few have fully understood the potential value of the western suburbs of Brisbane.

“The western suburbs have been undersupplied for some time, and local migration is still increasing at a faster rate than the supply of new homes on this side of the city,” he says.

[smartcode_project:default project_id=108736 project_image_fid=209692]

“We identified that buyers want to live in the western suburbs and as such we needed to deliver a diverse range of product to cater to a wide range of buyers and occupants. 33 Manning does just that with its mix of one, two and three bedroom apartments and penthouses with river and city views.”

Scriven says downsizers are actively seeking out lifestyle precincts that offer connection and a village atmosphere.

“These buyers are looking to stay close to the things they know while enjoying new experiences and unlocking value,” he says. “For investors, the market fundamentals on offer in Milton are its relative affordability compared to other states as well as the population and employment growth in the area.

“With the Olympics around the corner and low supply levels a result of construction and supply chain issues, we don’t see any of these fundamentals changing significantly for some time.”

For Scriven, the city’s low vacancy rate, which is currently under 0.7% is another indication why suburbs like Milton will experience increasing demand for housing.

<h2>Apartment resurgence</h2>

The combination of useful data and deep expertise is critical for developers looking to find value and stay ahead of the market. Similarly, collaboration with leading consultants and experts is invaluable.

[smartcode_project:default project_id=108736 project_image_fid=209693]

“We started to recognise that although sea-changers and tree-changers initially started buying land to build bigger houses at the height of the pandemic, affordability and confidence has led to a recent resurgence in apartment living.

“Additionally, many owner occupiers have been unlocking equity as house prices rise, downsizing their home while upsizing their lifestyle,” he said.

In Brisbane, there is currently a 46 per cent difference between the average house price and apartment price; the largest gap in the country, and the most significant in 10 years. Apartments in the city are currently providing the most value for owner occupiers and opportunity for investors.

[smartcode_project_cta:default project_id=108736]

Scriven says downsizers are actively seeking out lifestyle precincts that offer connection and a village atmosphere

How on the ground insights helped create 33 Manning in Brisbane's Milton

Malaysian developer MRCB’s 26 Vista apartment project in Surfers Paradide is set to be one of the Gold Coast’s greenest towers, setting a new standard for premium sustainable design.

Located on Vista St in Surfers Paradise, MRCB has taken steps to reduce the site’s carbon footprint and lower resident energy bills. This includes an all electric energy solution that eliminates gas usage and encourages residents to embrace public transport with its close proximity to the light rail.

The initiatives&nbsp;align with the Gold Coast City Council’s proposed new corporate plan that is placing greater emphasis on climate change resilience in line with new federal emission policies.

MRCB CEO Ravi Krishnan said eschewing gas demonstrates MRCB’s commitment to delivering a project that introduces change in a market that is proving to be slower to welcome eco-initiatives.

[smartcode_project:default project_id=112730 project_image_fid=208888]

“We’re incredibly excited by the prospect of 26 Vista becoming one of the sustainability leaders on the Gold Coast. We are proudly moving away from gas, a move that is widely popular interstate but rarely explored with Gold Coast developments.

The building has been designed by DBI Architects who have expertly capitalised on Queensland's subtropical climate through east-facing orientation and cross-ventilation pathways throughout residences and communal spaces.

DBI Architects Managing Director Raith Anderson explained the process of introducing a soulful yet functional eco-centric design that expertly capitalises on the subtropical climate of Queensland.

[smartcode_project:default project_id=112730 project_image_fid=208887]

“26 Vista is orientated toward the east to take advantage of the sunlight and ocean breezes, while cross-ventilation pathways that have been introduced throughout residences and in communal spaces allow for greater airflow.

“MRCB is determined to reduce reliance on air conditioning and imbue the project with an openness not typically realised when buildings have extreme dependency on air-conditioning."

To further reduce reliance on air conditioning, MRCB has exclusively partnered with Swiss company V-Zug for every residence - leaders in innovation in hygiene and efficient home appliances whose manufacturing operations are carbon neutral.&nbsp;

[smartcode_project:default project_id=112730 project_image_fid=208886]

MRCB is also seeking to secure&nbsp;one of the Gold Coast’s first EV car share programs for 26 Vista, as well as future proofing it with necessary power infrastructure capacity upgrades to support its all-electric energy solution and EV charging provisions for residents.

Construction is scheduled to commence in 2023. One-bedroom apartments start from $600,000.&nbsp;

[smartcode_project_cta:default project_id=112730]

&nbsp;

MRCB CEO Ravi Krishnan said eschewing gas demonstrates MRCB’s commitment to delivering a project that introduces change in a market that is proving to be slower to welcome eco-initiatives

One of the Gold Coast’s greenest towers: MRCB’s 26 Vista's premium sustainable design

With riverside dining, local city gardens and a thriving arts precinct, Southbank is a popular choice for Melburnians who want a city home with a neighbourhood feel.

Freshly completed and ready to move in now, FOCUS is Southbank’s newest residential tower.

Rising 50 levels above a premium Southbank location on City Road, it’s the latest project from award-winning developer Central Equity.

[smartcode_project:default project_id=3260 project_image_fid=206126]

There are a range of one, two and three-bedroom apartments on offer in FOCUS, designed with space and family living in mind.

Prices start from $499,000 for the one-bedroom apartments. The two-bedroom apartments, which have proven popular with the owner-occupier market, start from $729,000.&nbsp;Family-sized three bedroom apartments start from $969,000.

Central Equity's Sales Manager Neil Singh says when the designs were drawn up for FOCUS, the team wanted the apartments to feel like true city homes.

"Our designs have elevated 2.7m high ceilings, which makes a big huge difference in apartment living," Singh says.

[smartcode_project:default project_id=3260 project_image_fid=206123]

“Apartments also include private balconies and many designs include a separate study area. So they’re a fantastic choice for students or city professionals who need a home office.”

“We've also got extensive resort-style facilities inside the building, including a 17-seat luxe theatre to an indoor heated pool, sauna, a gym with strength and cardio zones, and resident dining and lounge areas complete with landscaped terraces, barbecues and outdoor seating.”

[smartcode_project:default project_id=3260 project_image_fid=206134]

Buyers have been sold on the location of FOCUS, which places residents on the doorstep of the arts precinct and its upcoming $1.7 billion revamp.

"Southbank has a leafier feel than the city," Singh says, adding that the suburb still offers all the pros of inner-city living.

"Within minutes, residents can be at the NGV and Arts Centre, or walk less than a kilometre to reach the Queen Victoria Gardens" he adds.

Central Equity is hosting a grand opening event at FOCUS from January 28 to February 12, which will give prospective buyers an insight into what it's like living in this brand new tower.

There will be nine fully-furnished apartments plus resident facilities on display, allowing visitors to get up close and personal to the FOCUS range.

[smartcode_project_cta:default project_id=3260]

Complete and ready to move in now, Central Equity’s latest project is open to the public with a Grand Opening from Jan 28 to Feb 12

FOCUS Melbourne: Inside Southbank's newest residential address

Despite generous government incentives in place for first home buyers, and investors seeing record rental yields due to the current rental market boom, both demographics are contracting when it comes to new lending.

First home buyer numbers dwindled again in November, to be over 30 per cent down since November 2021 and 50 per cent down from the January 2021 peak,&nbsp;according to stats from the Australia Bureau of Statistics.

Investor loans written declined 3.8 per cent in November to be 23 per cent down since November 2021.

Some developers are putting their strongest foot forward to differentiate themselves from other developers and projects, offering their own incentives to prospective buyers.

Traditionally, given investors and first home buyers are traditionally very different buyers, developers tend to offer two different incentives which cater for each of their needs.

Developer Piety Group are offering free strata levies at their recently completed Wentworth Point apartment precinct,&nbsp;ONE The Waterfront.

[smartcode_project:default project_id=5751 project_image_fid=209846]

The two years of no strata levies equates to around&nbsp;$11,000&nbsp;in savings. They're also offering&nbsp;for a limited time&nbsp;purchasers&nbsp;to exchange&nbsp;with just a five per cent deposit, as opposed to the traditional 10 per cent.

The one-bedroom apartments in ONE The Waterfront are priced from $599,000, meaning buyers will only have to face an upfront cost of $30,000. The apartments, despite complete, still fall under&nbsp;the&nbsp;first home owners grant threshold

First home buyers also now can pay no stamp duty on apartments under $1.5 million, as part of the NSW Government's new First Home Buyer Choice scheme.

Sam Elbanna&nbsp;from project marketer&nbsp;Laver Residential Projects, who are selling ONE The Waterfront, says the project is one of the most affordable within 15 kilometres of the city.

[smartcode_project:default project_id=5751 project_image_fid=209835]

"There is simply no way this development can be replicated and sold at these prices again in such close proximity to the Sydney and Parramatta CBD’s," Elbanna added.

"The apartments are well thought out, finished superbly and located in a genuine resort style development with swimming pools, a fee free commercial gym, tennis courts and outdoor rooftop cinemas," Elbanna said.

There is also CLUB ONE, a community centre that includes&nbsp; another private cinema.

The new scheme is part of a conscious effort from Piety Group&nbsp;and Laver Residential Projects&nbsp;to offer their buyers the best value for money compared to their competitors.

&nbsp;

[smartcode_project:default project_id=5751 project_image_fid=195420]

Toward the back end of 2022, Piety&nbsp;and Laver Residential Projects recognised that buyers were concerned about increases in interest rates,&nbsp;consequently&nbsp;offering an industry first&nbsp;freeze on interest rates hikes&nbsp;so buyers, both owner-occupiers and investors, could freeze their rate when they purchased. The offer&nbsp;covered the cost of future interest rate rises of up to one per cent over two years to help reduce the mortgage costs for buyers should the Reserve Bank of Australia continue to lift the cash rate.&nbsp;

The incentives have seen buyer demand surge right through Christmas and into 2023, with a number of the one-bedroom apartments picked up by both demographics, and some quickly rented by investors.

A 2017 buyer of a one-bedroom apartment recently secured nearly $600 a week, representing a rental yield of over five per cent,&nbsp;considerably higher than the average rental yield of 3.4 per cent in and around Sydney. The apartment was snapped up after just one day.

The Amalfi Drive development,&nbsp;is&nbsp;conveniently located for commuters near the Sydney Olympic Ferry Terminal and&nbsp;has&nbsp;easy access to the Western Motorway,&nbsp;It&nbsp;was designed by Stanisich Architects who say ONE The Waterfront is crafted, contemporary and connected - three key ideas that underpin the aesthetic for the development.

&nbsp;

[smartcode_project:default project_id=5751 project_image_fid=195430]

The project sits on the doorstep of Bay Park's 5,000 sqm of parklands, which feature a children's playground, fitness station, and further barbecue facilities.

“Buyers are yet to grasp the likely value increases that are coming due to a number of factors,” Elbanna said.

“The new light rail station is opening up directly in front of the development providing&nbsp; fantastic and convenient public transport, whilst the new surf park will provide further entertainment for residents.”

[smartcode_project_cta:default project_id=5751]

Sam Elbanna from project marketer Laver Residential Projects, who are selling ONE The Waterfront, says the project is one of the most affordable within 15 kilometres of the city

How Piety Group are attracting first home buyers and investors to ONE The Waterfront apartments in Wentworth Point

Melbourne and Sydney developer Fortis has won planning approvals for two projects in Richmond.

Construction on 8 Brighton Street and the adjoining 5 Wiltshire Street in the city-fringe suburb is expected to commence later this year.&nbsp; 
​ 
​As one of the most substantial development parcels to be consolidated in Melbourne’s city fringe area in recent years, the projects will establish a brand new residential, commercial and retail precinct in Richmond.

The two projects collectively occupy 15 blocks of land, creating one major development. Both sites are being designed by prominent multi-disciplinary design studio SJB, and development will be funded by Pallas Capital. 
​ 
​The approved plans include the creation of a pedestrian-priority food and beverage retail boulevard along Wiltshire Street, opening up and connecting Brighton Street with Little Lesney Street, and creating six leasing opportunities. 
​ 
​“Our approach with our Richmond projects is similar to our work in Double Bay, where we have considered not just the development of our sites, but also how it could enhance the broader neighbourhood," Fortis Director Charles Mellick says.

"The project will bring to market exclusive food and beverage amenities for approximately 1500 workers and over 150 residents who will call it home, along with the wider Richmond community. We are grateful to the City of Yarra for the planning approvals and are looking forward to working closely with the community to deliver a superior product."

<img alt="Fortis" data-entity-type="file" data-entity-uuid="3b3898d5-1067-4d52-95d1-999463cacfbb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-01-24%20at%2010.15.41%20am.png?VersionId=M2Xrnkn0LcwY2G8nFuoJu15EdQNko19q" /> 
​ 
Mellick says this is one of the most substantial site acquisitions for the suburb and the Melbourne city-fringe area.

"With an expected end value of approximately $300 million, we are confident that the project will set a new standard for premium commercial and residential space in the area.”&nbsp; 
​ 
​Located off the prominent Church St and Swan St intersection, 8 Brighton Street is a 1,298 sqm site and was acquired by Fortis for around $20 million. A new build on the site will offer 12 levels of mixed-use space, with ground floor retail and commercial space on two podium levels offering 2,500 sqm in NLA, followed by 55 apartments across nine levels.

Boasting three street frontages, the project will offer residents unobstructed north and south views, alongside exclusive access to the rooftop amenities, including wellness areas, working from home spaces and barbecues. All residents will also have exclusive access to three levels of basement parking.

The neighbouring site at 5 Wiltshire Street, acquired for around $33 million, consists of nine individual lots totalling 1,432 sqm.

The proposed development will comprise 11 levels of commercial space and three levels of basement parking. Offering 11,000 sqm NLA, the project will offer uninterrupted views of the city skyline, premium EOT facilities and an activated rooftop with barbecues, a bar, wellness areas, workspaces and communal social spaces exclusive to its tenants.&nbsp;

<img alt="Fortis" data-entity-type="file" data-entity-uuid="7ee8110d-0153-49a6-8a81-e9743a3bfc2e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-01-24%20at%2010.15.47%20am.png?VersionId=6.Pqe8xaHsttBqwlbKp1jCCazPAS09G6" /> 
​ 
​A highly desirable city-fringe location, Richmond is the existing beating heart of amenity within Melbourne. The brand new residential destination is located on the doorstep of East Richmond Station with additional direct access to multiple high frequency tram stops, allowing easy entrance to the Melbourne CBD and other key business areas.

The sites are a short walk away from a wide range of restaurants, bars, gyms, wellness studios, supermarkets and other amenities along Swan Street and Church Street. Other recreational options in the vicinity include Barkly Gardens, MCG and Melbourne Park.&nbsp; 
​ 
​Pallas Group is the parent company of real estate financier and investment manager, Pallas Capital, and property developer, Fortis. The expected end value of Fortis projects currently under construction or under a planning proposal is $5 billion nationwide.

Fortis secures planning approvals for $300 million mixed-use Richmond project

Brisbane-based South East Queenslander developer Spyre Group has secured another off the plan penthouse record.

Having broken the record for the most expensive apartment sale in the Gold Coast (and Queensland) last year when they sold the penthouse of their Burleigh Heads project Glasshouse for $20 million, Spyre has marked the same feat in Brisbane.

They've already sold the penthouse in their striking New Farm project Moray House, on the riverfront Moray Street in New Farm.

[smartcode_project:default project_id=105057 project_image_fid=209770]

The penthouse has 800 sqm across two levels, and will feature its very own sky garage. The sale equates to nearly $20,000 per sqm.

Simon Caulfield at Place Kangaroo Point sold the apartment to a couple who live on Moray Street.

Spyre Group Director Andrew Malouf says the bueau^proberts-designed development will&nbsp;solidify Brisbane’s status as a destination for prestige property.

[smartcode_project:default project_id=105057 project_image_fid=209775]

There are only six apartments in the architecturally-impressive, with prices starting from $9 million. The apartments have an average living space of 320 sqm.

“The starting price of $9 million owed itself to the development’s exceptional location and craftsmanship,” Malouf said.

“This property will be both a first and last of its kind.

“Each apartment can be individually curated for the new owners with custom components that allow these homes to truly classify as ‘one of one’. These include a lap pool, sky garages, wellness rooms and personalised gyms.”

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Moray House will feature natural materials that reflect the surrounding topography, elegant curves, stonework and cabinetry.

“While the design is breathtaking, the added appeal is the direct access to the Brisbane riverwalk and the views of the Story Bridge and city skyline from every residence.”

Spyre Group Design Manager Kent Pinel said Moray House residents would enjoy a home specifically built for sub-tropical living at an unrivalled location.

“It will present locals with a redefined vision of what a personal sanctuary ought to be,” Pinel said.

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The penthouse has 800 sqm across two levels, and will feature its very own sky garage. The sale equates to nearly $20,000 per sqm.

Spyre secure $15.75 million Brisbane apartment record at Moray House, New Farm riverfront development

<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.

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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.

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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.

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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.

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Joel Robinson

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