Continuing the expansion of its Sydney footprint, the property developer Fortis has acquired two sites in Double Bay for around $82 million.

The sites, at 2-10 Bay Street and 294-298 New South Head Road, will be the sixth project by Fortis in the city-fringe harbour suburb. The transaction was negotiated by Ben Stewart from CBRE.&nbsp;

The prominent corner site comprises four independent properties, and boasts three street frontages on New South Head Road, Bay Street and Brooklyn Lane.

The 1,863 sqm site has development approvals for a residential project comprising boutique apartments across four levels, with basement parking for each residence and ground floor retail. Construction&nbsp;is expected to commence in July 2022, with the demolition of the existing buildings on the site completed. Pallas Capital will fund the acquisition and construction of the project.&nbsp;

&ldquo;Fortis has acquired multiple sites in Double Bay over the last few years for a mix of residential and commercial projects. 2-10 Bay Street is our newest acquisition and we are thrilled to add it to our portfolio. The residential project on this centrally-located site has an expected end value of $185 million,&rdquo; says Charles Mellick, Director at&nbsp;Fortis.

&ldquo;Our broader vision for Double Bay is to revitalise it. We are creating a vibrant town centre that appeals to residents and businesses alike, complemented by an enviable selection of dining, retail and entertainment options. 2-10 Bay Street and 294-298 New South Head Road will be the sixth project by Fortis in Double Bay, and we are excited to transform this city-fringe location into the most sought after neighbourhood in Sydney.&quot;

One of Sydney&#39;s most affluent harbourside suburb&#39;s, Double Bay is located four kilometres from Sydney CBD and known for its thriving, dynamic social scene. The suburb boasts of excellent amenities and transport options, offering easy access to the Double Bay ferry wharf, while Edgecliff train station lies a 10-minute walk away.

Double Bay is also known for maintaining a unique village feel, surrounded by high end boutiques and retailers.

Pallas Group is the parent company of structured real estate debt and equity manager Pallas Capital and developer Fortis. The expected end value of Fortis&rsquo; Sydney projects currently under construction or under a planning proposal is $1.5 billion, with a further $1.15 billion pipeline of work in Melbourne.

Fortis, in a joint venture with Dare Property Group, recently launched Piper, their high-end Point Piper collection of just 15 apartments

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But&nbsp;Fortis, alongside Dare Property Group, are set to finally bring something new for&nbsp;new high-end apartment seekers, on the&nbsp;2,392 sqm Wunulla Road site which they joint acquired for around $40 million last year.

The development, at&nbsp;2A Wunulla Road,&nbsp;will have interiors by MIM Design and sit in landscaping by Dangar Barin Smith.

There will be a mix of two, three and four-bedroom apartments across the boutique four-level building. Each apartment will feature&nbsp;soaring ceilings, open layouts and large living, entertaining, and outdoor areas. Some of the apartments will even have their own private pools.

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The 1,863 sqm site has development approvals for a residential project comprising boutique apartments across four levels

Joel Robinson

Fortis secure sixth Double Bay site

Azure Development has smashed the inner-Brisbane apartment price record, selling their sprawling New Farm penthouse atop One Five Six Oxlade Drive for $11 million.

A local Brisbane family secured the 1,025 sqm space crowning the luxury apartment project of just 10 apartments, arguably one of the best, and last, riverfront-facing residential properties.

The penthouse, complete with own rooftop terrace with swimming pool, has four bedrooms, five bathrooms, a seven car garage, terrace gardens, and a self-contained basement with a wine cellar.

<a href="/buildings/one-five-six-156-oxlade-drive-new-farm"><img alt="" data-entity-type="" data-entity-uuid="" height="788" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-03_at_9.14.48_am.png" width="1477" /></a> 
The luxury rooftop pool with sweeping views. Image supplied

Trent Keirnan, Director of Azure Development, attributes the record outcome to a growing sector of discerning buyers seeking space and quality.

“Enquiries have doubled in the last 18 months for supersized residences. The depth of buyers in this market is a by-product of an expanding demographic of clients willing to invest significant capital into these mansions in the sky,” Keirnan said.

“The market is accommodating demand from an increased surge in the property prices above $5 million and Brisbane has benefitted significantly in the post Covid adjustment of mid-2020.

[smartcode_project:default project_id=95611 project_image_fid=180226]

“We’re seeing more and more families leave the suburban streets behind for large inner-city sky homes, which provide the same spacious floor plans as the average Queensland home with added luxe amenities.

“Developers and architects are recognising the importance of increased floor plans, designing true homes in the sky that can accommodate for growing families, providing generous open-plan living spaces that present a contemporary and modern way of living

Place Kangaroo Point agent Simon Caulfield said he fielded a number of offers for the apartment.

<a href="/buildings/one-five-six-156-oxlade-drive-new-farm"><img alt="" data-entity-type="" data-entity-uuid="" height="773" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-03_at_9.15.01_am.png" width="1280" /></a> 
The marble island bench by Conrad Architecture. Image supplied

“We received multiple competitive offers from local families wanting an unrivalled experience with no compromise, which inevitably pushed the price to its record high,” Caulfield said.

Construction on the development commenced in December 2021, with construction completion anticipated for mid-2023.

A local Brisbane family secured the 1,025 sqm space crowning the luxury apartment project of just 10 apartments


Azure Development grab $11 million penthouse record at One Five Six Oxlade Drive, New Farm

The longstanding Perth developer, Devwest, is&nbsp;set to bring something unique to the South Perth waterfront.

No stranger to mixing commercial office space in with their residential towers, Devwest, led by Tony Hatt,&nbsp;Chad Ferguson, Damon Ferguson and Brett Lovett, is creating two towers on the dress circle Richardson Street, one residential, one commercial.

It&#39;s the first time Devwest has created two standalone towers of commercial and residential in the same development.

Chad Ferguson, Devwest&#39;s Executive Director,&nbsp;says prospective home owners and business owners are rarely afforded the opportunity to work and live within the same development, while still being separate from the office.

[smartcode_project:default project_id=7809 project_image_fid=193003]

&quot;It offers the convenience of working from home whilst at the same time allowing purchasers to separate work from home, it&rsquo;s the ultimate arrangement really&quot; Ferguson told Urban.

Ferguson said&nbsp;the&nbsp;development provided a rare&nbsp;opportunity for businesses to own their own space.

&ldquo;The ability to own office space in a landmark building with panoramic water views, in a blue-ribbon CBD fringe suburb, is very rare. Office space of this quality is usually only available to lease.&rdquo; Ferguson said.

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There&#39;s already been a sale to a small business owner, who has secured an office space in the commercial tower, and an apartment in the neighbouring tower.

&quot;We thought this type of arrangement may appeal to some people and it has already proven to be the case,&quot; Ferguson added.

Living near the office is something Ferguson knows only too well.

&quot;When I started out in early 2000, my apartment was located directly above our office,&quot; Ferguson said.

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&quot;My apartment was actually hard wired to the server!&quot;

Designed by MJA Studio, One Richardson will have 75 apartments across its 13 levels. Construction&nbsp;firm EMCO is undertaking the build, with completion slated for Q1 2024.

Ferguson is expecting buyers to be anyone from first home buyers and owner-occupiers to investors.

&quot;It&#39;s a bluechip location for anyone,&quot; Ferguson said.

&quot;It fronts the Swan River, enjoys easy&nbsp;access to the surrounding parks&nbsp;and golf course, and is easily&nbsp;accessible via the freeway and the future&nbsp;South Perth Railway Station, which will be on the doorstep.&quot;

One Richardson will have&nbsp;uninterrupted views of Richardson Park, Royal Perth Golf Course and the Swan River. Buyers can choose from one and two-bedroom apartments, or the unique two and four-bedroom, two-level lifestyle apartments that are located on the upper levels.

[smartcode_project_cta: project_id=7809]

Devwest launch unique South Perth apartment development, One Richardson

Colliers Residential Victoria has been appointed by Lendlease as the master agent for its Melbourne Quarter East Tower, the largest apartment tower ever developed and constructed by Lendlease.

Located at 628 Flinders Street in Docklands, at Lendlease&rsquo;s $3 billion Melbourne Quarter precinct, the 40-storey tower is designed by renowned architects Fender Katsalidis, and developed by a joint venture of Lendlease and Mitsubishi Estate Asia. East Tower was completed in mid-2020.

&ldquo;Offering expansive views of the Melbourne CBD, Port Philip Bay and the Yarra River, as well as resort-style amenities across three floors, Melbourne Quarter East Tower is home to 719 one, two and three bedroom apartments,&rdquo; Brett Griffith, Colliers&rsquo; Director of Residential, said.

[smartcode_project:default project_id=3459 project_image_fid=179465]

East Tower is part of the vibrant Melbourne Quarter precinct situated between Collins and Flinders Streets and encompasses world-class design and stylish city living together with commercial buildings, dining, shopping and green spaces.

Renowned architects Fender Katsalidis, Denton Corker Marshall, Woods Bagot and John Wardle Architects, joined forces with urban design specialists Aspect Oculus, to create the landmark development.

East Tower redefines urban living with sweeping views, a neighbourhood park and a host of retail amenities, all right at its doorstep.

[smartcode_project:default project_id=3459 project_image_fid=179460]

&ldquo;With an unrivalled location next to Melbourne&rsquo;s main transport hub, Southern Cross Station, an apartment at Melbourne Quarter East Tower makes the entire city your home,&rdquo; Griffith said.

&ldquo;As an East Tower resident, you&rsquo;ll also enjoy exclusive access to three floors of resort-style amenities at&nbsp;Club MQ. From private dining spaces with fully-equipped kitchens, to a resident&rsquo;s lounge and a private theatrette, these exclusive areas are perfect places to socialise, collaborate or escape to.

&ldquo;Residents can keep in shape with access to gym facilities, including a private wellness space, a spa and sauna, plus a 25 metre indoor swimming pool. &ldquo;

[smartcode_project:default project_id=3459 project_image_fid=179455]

From high-rise &lsquo;Skyhomes&rsquo; with panoramic city or bay views, to boutique apartments overlooking the green oasis below, East Tower at Melbourne Quarter maximises views and natural light.

[smartcode_project_cta: project_id=3459]

From high-rise ‘Skyhomes’ with panoramic city or bay views, to boutique apartments overlooking the green oasis below, East Tower at Melbourne Quarter maximises views and natural light

Lendlease appoint Colliers to market Melbourne Quarter East Tower

The Brisbane unit market was the best performing across every capital of February, according to CoreLogic&#39;s&nbsp;Monthly Hedonic Home Value Index.

Values jumped 1.5%, following the 1.4%&nbsp;gains over January. Values are now 2.9% up over 2022 already, well on their way to matching the 14.4% growth over 2021,&nbsp;

The quarterly performance, up 4.5%, is the highest in the country for the unit market.

[smartcode_project:default project_id=27815 project_image_fid=185118]

The median apartment value in Brisbane is now $468,393. At the start of 2021, it was just over $390,000.

Recent figures from PRD Research suggest price growth will continue. PRD calculate the&nbsp;the inner median unit price sits at $530,000. The middle is $467,000. The outer median sits at $397,000.

[smartcode_project:default project_id=102309 project_image_fid=163977]

&quot;The outer-ring provides affordability for first home buyers and is also the fastest growing,&quot; the report noted.

&quot;Buyers must be quick to secure their property.&quot;

&quot;There is a revival in the unit market after a period of price discounting in mid-2020.&quot;

Mosaic Property Founder and Managing Director Brook Monahan recently told Urban that he believes Brisbane apartment market has the most potential for growth in Queensland.

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&quot;There&#39;s just not enough high quality built form for owner occupiers wanting bigger units, and world class amenity, in the five kilometre ring around Brisbane,&quot; Monahan said, suggesting there&#39;s been a chronic undersupply for that type of buyer&nbsp;since around 2018.

&quot;That issue is getting worse, not better, with the amount of people still moving to Brisbane,&quot; Monahan added.

The quarterly performance, up 4.5%, is the highest in the country for the unit market

What happened to Brisbane apartment values over February?

Melbourne apartment values bounced back from a decline across January, posting 0.1 per cent gains in February, CoreLogic&#39;s Monthly Hedonic Home Value Index showed.

The growth outstripped houses, which were flat across the month.

Apartment values across Melbourne rose seven per cent over 2021, which was the lowest growth across all major capitals, namely due to the extended lockdowns Victorian&#39;s faced.

Overseas arrivals and seasonal rental market strength have given a shot in the arm to the rental market, which has been more apparent in the unit market.

[smartcode_project:default project_id=3459 project_image_fid=179455]

CoreLogic&#39;s Head of Research Tim&nbsp;Lawless says the&nbsp;stronger trend in unit rents is most visible in Sydney and Melbourne.

&ldquo;Anecdotally, demand for unit rentals in these cities has been bolstered by a combination of worsening rental affordability deflecting more demand towards the higher density sector, where rents tend to be lower, and demand starting to return from overseas arrivals,&rdquo; Lawless&nbsp;said.

With the pace of growth in housing values softening while rental growth holds reasonably firm, the gross yield profile has finally stabilised at 3.2%, the lowest rate on record. Sydney (2.4%) and Melbourne (2.8%), which have the lowest yield profiles, recorded a slight strengthening in gross yields this month, as rental growth nudges higher than growth in housing values.

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Lawless believes&nbsp;we could be seeing rental yields moving through the bottom of their cycle.

&ldquo;After several years of yield compression where gross rental yields reached historic lows across most of Australia&rsquo;s capital cities, we are finally seeing early evidence of yield repair. If rents continue to rise faster than housing values, which is a strong possibility in Sydney and Melbourne, yields will continue to improve.

&ldquo;Cities such as Brisbane and Adelaide, where housing values are still consistently rising faster than rents, are likely to see yields compress to new record lows.

&quot;Despite the downwards trend, yields in these cities remain well above Sydney and Melbourne levels,&rdquo; Lawless said.

&nbsp;

Apartment values across Melbourne rose seven per cent over 2021, which was the lowest growth across all major capitals, namely due to the extended lockdowns Victorian's faced

What happened to Melbourne apartment values in February?

It&#39;s taken just three months for the newly completed Croydon apartment development, L1ON Croydon, to nearly sell all of its apartment.

The boutique development at 1 Lion Street, Croydon, in Sydney&#39;s inner-west, has just 35 apartments in the two buildings designed by Benson McCormack Architects.

The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local&nbsp;owner-occupiers who took advantage of the dual-level apartments.

The project has been&nbsp;built and developed by construction veterans and property developers Hone Constructions, who have&nbsp;over 15 years&#39; experience in the property industry.

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&nbsp;

Alexander Vrisakis, director at HAUS Agency who has been handling the sales process, said the location of&nbsp;L1ON Croydon was a strong driver in purchasing.

&ldquo;We know that Croydon is a wonderful location, just 20 minutes from the CBD, and buyers that have been eager to secure their first home somewhere that makes commuting to work easy,&rdquo; Vrisakis said.

L1ON&nbsp;Croydon is close to both Ashfield and Croydon train stations, and is also well connected to the CBD by the extensive bus network. It sits within close proximity to&nbsp;parks, sports and aquatic centres, as well as public and private schools like PLC Sydney and De La Salle College Ashfield.

[smartcode_project:default project_id=95518 project_image_fid=191818]

Residents are also close to shopping centres like Westfield Burwood and Ashfield Mall, plus all the eateries, cafes and bars of nearby Haberfield and Burwood.

L1ON&nbsp;Croydon apartments are kitted out with&nbsp;Fisher &amp; Paykel appliances, engineered European oak flooring, Caesarstone kitchen benchtops and bespoke blinds and LED lighting throughout.

[smartcode_project:default project_id=95518 project_image_fid=191816]

HAUS Agency Director Sean Dowling said it&#39;s rare to find such high-quality apartments that are untouched and available to purchase now.

&ldquo;We&rsquo;ve seen solid results, with a big draw card being the fact that the development completed on 1st&nbsp;February *and is ready to move in now,&quot; Dowling said.

&nbsp;

One-bedroom apartments at L1ON&nbsp;Croydon&nbsp;are priced from $730,000.

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The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local owner-occupiers who took advantage of the dual-level apartments

L1ON Croydon apartments snatch local first home buyers as sell-out approaches

Infinity, the Bassar Construction Group-developed apartment tower in the heart of Broadbeach, is the&nbsp;latest luxury project to sell out in the booming Gold Coast suburb.

The 62-apartment project at 33 Surf Parade was Bassar&#39;s first on the Gold Coast, having previously developed across New South Wales, Melbourne and Canberra.

There&#39;s been an immediate success for buyers, nearly a year before construction is estimated to conclude.

Leo Sarris, who heads up Bassar alongside Simon Bassil, said the project had held its own despite the many challenges thrown at them over the past two years.

[smartcode_project:default project_id=9748 project_image_fid=191772]

&quot;We faced unprecedented challenges when COVID first hit, but once the market understood that we were committed to building Infinity they supported us,&quot; Sarris said.

The majority of sales happened within the first six months of COVID when the world was locking down buy we stayed the course, there was no turning back for us,&quot; Sarris added.

Kollosche New Projects agent Andrew Ramsey, who secured the final sale, a $4,478,000, full-floor apartment to a Melbourne-buyer, said buyer success has been immediate.

&quot;The people who took advantage of Infinity early have done extremely&nbsp;well,&quot; Ramsey said.

[smartcode_project:default project_id=9748 project_image_fid=191773]

&quot;The value&nbsp;of those apartments has increased considerably - up to 40 per cent - but none are willing to sell because there isn&#39;t anything comparable to buy.

&quot;Even if you could find it, you&#39;d be waiting another two years for newer projects coming to market to reach this stage.&quot;

Hutchinson Builders are currently constructing the 39-level,&nbsp;residential-only building, complete with a 20-metre pool, gymnasium, function room and cafe.

Designed by Gold Coast architects BDA Group, Infinity sits within a short walk of the beach, the Star Casino, Pacific Fair Shopping Centre and Broadbeach Light Rail station.

The 62-apartment project at 33 Surf Parade was Bassar's first on the Gold Coast, having previously developed across New South Wales, Melbourne and Canberra.

Bassar Construction Group sell out Infinity, Broadbeach apartments

Australia 108 is one of Melbourne&#39;s most well known, and well regarded, buildings.

Having completed construction toward the end of 2020, the striking tower, offering the highest residences in the Southern Hemisphere, was designed by the renowned architecture firm Fender Katsalidis, whose goal was to form a bridge between earth and sky.

Australia 108, on Southbank Boulevard, sits next to Eureka Tower, also talked about as one of&nbsp;Melbourne&#39;s best buildings. That too was&nbsp;designed by the team at Fender Katsalidis.

We recently caught up with&nbsp;Nicky Drobis, Director at&nbsp;Fender&nbsp;Ka​tsalidis, to discuss the design process of Australia 108, and how it came to be.

<div>JR:&nbsp;What was the design brief for Australia 108 from World Class Global?</div>

<div>&nbsp;</div>

<div>ND: For what was their first major project in Melbourne, World Class Global partnered with us to deliver their vision for a landmark residential tower in Southbank. The outcome &ndash; the highest residences in the Southern Hemisphere &ndash; reflects a seven-year aspiration for a building intended to feel like a close-knit community, forming a bridge between earth and sky.</div>

<div>&nbsp;</div>

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<div>&nbsp;</div>

<div>JR:&nbsp;What interested you about the project?</div>

<div>&nbsp;</div>

<div>ND: We were most interested in connecting people through a neighbourhood streetscape &ndash; but in a vertical sense. Taking a building-as-precinct approach led to offering new way of living for different sizes of families with residents able to share the beautiful space and luxurious amenities with families and friends.</div>

<div>&nbsp;</div>

<div>JR:&nbsp;How early in the design process did you know Australia 108&nbsp;was going to be&nbsp;the tallest apartment tower in the Southern Hemisphere?</div>

<div>&nbsp;</div>

<div>ND: From the outset, World Class Global and our design team envisaged a distinctive landmark building for Melbourne. The aspiration was always to design a supertall tower in excess of 100 floors. Ultimately soaring to 319 metres in height, Australia 108 became the tallest building in Melbourne and the tallest residences in the Southern Hemisphere.</div>

<div>&nbsp;</div>

<div>
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</div>

<div>&nbsp;</div>

<div>JR:&nbsp;What was the most challenging aspect when designing the tower?</div>

<div>&nbsp;</div>

<div>ND: Whenever approaching something new, especially at such great height, challenges abound. To achieve a build that had never been attempted before in Australia required a lot of innovative thinking and detailed planning. This also presented ample opportunity to develop many new and exciting design and engineering solutions.</div>

<div>
One key consideration was how the structure would cope with tremendous wind speeds of up to 140km/h. To overcome this, the structural stability was bolstered by a super-sized damper tank filled by high-pressure pumps in level 100&rsquo;s subfloor to act as a counterbalance.

Due to local soil conditions, carparking was unable to be placed below ground. We saw an opportunity to create a new typology of open-deck carpark as a series of terraced and interlocking garden beds flanked with large mature palms and cascading foliage.

[smartcode_project:default project_id=582 project_image_fid=182851]

One of the greatest construction challenges we faced was how to assemble the starburst structure which cantilevers 6 metres from the building on all sides at more than 200 metres in the air. Constructed from 24 prefabricated steel trusses, each piece was transported at night to allow truck drivers to safely manoeuvre them into loading areas where they were hoisted and secured into position. Purpose-built platforms allowed workers to safely install the feature, protecting themselves and those on the streets below.

JR: When was the golden starburst idea thought of, and how?

ND: From the genesis of the supertall investigation, the starburst had always played a role as the centrepiece of the design. Inspired by the Commonwealth Star, our vision for the distinctive golden Starburst was as a central connection point.

The golden starburst expression is fundamental to both the building&rsquo;s identity and structural composition; the cantilevered structure intervening with the sculptural building&rsquo;s curvaceous form to create a dramatic exclamation mark in the skyline. Intended as a celebration of community within the building, this civic area was envisaged as the tower&rsquo;s &lsquo;town hall&rsquo; and remote working option above the clouds.

[smartcode_project:default project_id=582 project_image_fid=182857]

JR:&nbsp;How important were the amenities to the design of the building?

ND: Central to building a residential community within a supertall tower was to provide residents with generous communal spaces and a high quality of internal amenity. Australia 108 offers more than 4,000 sqm of internal communal space, including dining and function spaces, theatrettes, gymnasiums and many other spaces which allow for programmed events and social activities. 

The starbust alone accommodates a double-height sky garden and two infinity edge swimming pools.

[smartcode_project:default project_id=582 project_image_fid=182867]

JR:&nbsp;Where did you draw inspiration from for Australia 108?

ND: Standing in dialogue with its neighbour, Eureka Tower, Australia 108&rsquo;s material palette shares a golden connection with its fellow&nbsp;Fender&nbsp;Kat​salidis-design supertall tower. However, an entirely different geometry has been expressed in the floorplate of Australia 108. 

Horizontal banding up the building&rsquo;s exterior amplifies the curvilinear shape of the floorplan. The gradient, which intensifies as it works its way up, draws your eyes upward to celebrate the building&rsquo;s form.

JR: Was there another building, either one you&#39;ve previously worked on, or just another in the world, that helped in the design idea process?

ND: Instantly recognisable, Australia 108&rsquo;s elegant silhouette embodies a strong visual relationship with its skyline partner, Eureka Tower. Australia 108 expresses its distinctive identity, while sharing elements of design language and materiality with Eureka, creating a strong, visually symbiotic relationship.

Australia 108 embodies the essence of the city. Its design pays homage to the cultural arts precinct it resides in, connecting masterfully to the Southbank neighbourhood through its deliberately inviting ground-level experience.

JR:&nbsp;What part of the building are you most proud of?

ND: We are most proud of&nbsp;the creation of such a diverse community across more than 100&nbsp;floors. Despite its enormity, Australia 108 is a building that manages to operate and feel more like close-knit community. 

With Australia 108, we have successfully conceived a vertical community in an era when densification of the city is becoming increasingly critical.

[smartcode_project_cta: project_id=582]
</div>

"From the outset, World Class Global and our design team envisaged a distinctive landmark building for Melbourne. The aspiration was always to design a supertall tower in excess of 100 floors."

"Forming a bridge between earth and sky": How Fender Katsalidis designed Australia 108, the southern hemisphere's tallest apartment tower

The question on everyone looking at the Gold Coast of​f the plan apartment market&nbsp;is &quot;is the growth sustainable?&quot;

Demand has far outstripped supply over the last year or so, with migration to the Sunshine State at record highs following the exodus from the southern states, who are now seeking a more relaxed lifestyle.

Supply won&#39;t be as much of an issue in 2022, with two huge Surfers Paradise projects, Tim Gurner&#39;s La Pelago, and SPG Land&#39;s Paradiso Place, combined producing around 1,700 apartments.

And there&#39;s plenty further opportunity for development up and down the Coast, with&nbsp;savvy apartment owners are getting more bang for their buck when they team up and sell their apartments to a developer, who is just after the most prized asset in the area at the moment, land.

&ldquo;Vendors can achieve a 15-20 per cent increase in the market value of their apartment by selling alongside their neighbours and maximising the development potential of their property,&rdquo; says GV Property Group&rsquo;s Luke Reaby.

GV Property Group, who amalgamate sites for developers, has just listed a site which will be one of the most in demand sites in 2022.

The prime site, an amalgamation of&nbsp;2791 Gold Coast Highway and 37 Armrick Avenue in Broadbeach, will give a developer 2,235 sqm to play with.

<img alt="" height="674" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-25_at_1.52.45_pm.png" width="783" />

Pezet Matheson Director Todd Matheson says the site will lend itself to a tower with one, two and three-bedroom apartments, as well as rooftop amenity allowing the residents of the lower levels still to have access to the extensive views.&nbsp;

The site, which comes with an&nbsp;indicative&nbsp;architectural scheme from the Melbourne-based architecture firm Cera Stribley, already has some big developers circling.

<img alt="" height="378" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-18_at_9.18.18_am.png" width="529" /> 
The early stages tower scheme proposed by Cera Stribley Architects. Image supplied

&quot;Developers are always keen on seeing what architects have put together for a site pre-purchase,&quot;&nbsp;Reaby says.

&quot;It gives them that level of confidence as to what can go on the site.&quot;

GVPG also has a site for sale down at Palm Beach, on the sought-after beachside of the Gold Coast Highway.

They&#39;ve had six owners of a four-level building band together to sell, with the 825 sqm site at 1177 Gold Coast Highway already attracting a lot of attention.

<img alt="" height="584" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-02-25_at_1.53.12_pm.png" width="846" />

The group initially listed the property with the intention of running an off-market campaign through its&nbsp;local, interstate and international developer network.

&ldquo;After the volume of interest we received through our off-market discussions, we decided we&rsquo;d achieve the best outcome for our vendors by bringing the listing to the public,&rdquo; Reaby said.

&quot;The property is likely to appeal to a range of developers, wanting to capitalize on its the prime location and potential views on offer, as well as the the nine-storey limit of the zone.&quot;

Gold Coast apartment development site demand running in to 2022

<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;

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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.

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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.

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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.”

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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.”

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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.

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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.

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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;

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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.

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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.

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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.

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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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