Residential property developer and builder Sekisui House is reserving 30 apartments in its next stage of its $1 billion masterplanned Norwest community for front-line workers of first home-buyers.

They've brought forward the launch of stage three, known as Lumia, due to meet&nbsp;strong demand in previous stages from downsizers, young families and first home buyers driven by government incentives.

Lumia is made up of 330 apartments inspired by nature.

[smartcode_project:default project_id=29147]

Designed by Turner Architects, stage one of Lumia comprises 203 apartments, a mix of 71 one beds, 118 two beds, 13 three bedroom apartments and a single four bedroom penthouse.

Lumia will sit in the middle of The Orchards community alongside Strangers Creek. Turner Architects director Dan Szway says that Lumia holds a unique position within The Orchards precinct and Norwest.

"It has a strong connection to the natural surrounds whilst enjoying the emerging urban amenity offered by Norwest Business Park and the new Metro Norwest station which are within easy walking distance.

<img alt="" data-entity-type="" data-entity-uuid="" height="774" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lumia_sekisui_2.jpg" width="1200" />

Sekisui House sales manager David Lee says their success in 2020 was primarily due to the government's HomeBuilder Grant as well as the first home buyers grant and full stamp duty exemption.

“These government incentives have brought forward the launch of Lumia, intentionally designed with a large range of smaller apartments which is expected to accommodate first home buyer purchasers," Lee says.

"“Buyer confidence is at an all-time high with the Reserve Bank recently indicating that the cash rate will remain steady for three years.

“The Orchards is one of the most significant residential masterplanned communities to be introduced in New South Wales and is taking urban rejuvenation and luxury living in Norwest to another level.”

&nbsp;

&nbsp;

Designed by Turner Architects, stage one of Lumia comprises 203 apartments, a mix of 71 one beds, 118 two beds, 13 three bedroom apartments and a single four bedroom penthouse.



Joel Robinson

Sekisui House to reserve 30 units for frontline workers or first home buyers in latest The Orchards release in Norwest

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Bernborough Ascot, the $270 million retirement community by Lendlease located on Doomben Racecourse, will be the most sustainable retirement community in Australia.

The development recently secured the sector’s first 6 Star Green Star Communities rating from the Green Building Council of Australia. 

The integrated retirement living community is being constructed in stages, with the first stage opened in October 2020.  

When completed, Bernborough Ascot will feature 300 large luxury independent living apartments and penthouse style homes, lifestyle amenities including a bowls green, health and wellness studio with a pool, spa, gymnasium and consulting rooms, a rooftop terrace, restaurant and outdoor dining areas.

[smartcode_project:default project_id=8000]

Lendlease scored the top sustainability rating for Bernborough Ascot for a range of initiatives. Their design, by Marchese Partners, are positioned to maximise cooling breeze and cross flow ventilation, lengthen shade periods and provide optimal environments.

There are onsite solar panels and rain water tanks for irrigation for the precinct's gardens. Plants selected for the precinct’s gardens and living walls will flourish in Brisbane’s subtropical climate and will not require intensive watering. 

One of the stand out features in the community is the 70-80 year old weeping fig tree. An intensive 17-weeks was spent working with tree experts to relocate the 140-tonne tree to another part of the community.

Independent analysis of the tree’s health shows it is thriving in its new location in the community and is expected to live up to 200 years.

<a href="/new-apartments/bernborough-ascot-52-hampden-street-ascot"><img alt="" height="1200" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bernborough_ascot_2.jpg" width="1600"></a>

Lendlease retirement living managing director said "Bernborough Ascot residents will benefit from the sustainability measures we’re delivering – not just in terms of driving down energy and water bills but also the lifestyle and health outcomes from living in such a green community.

“Delivering environmental and social outcomes, alongside financial, have been hallmarks of Lendlease since our inception – and continue to be cornerstones of our company globally. Bernborough Ascot will certainly set a new benchmark for Lendlease retirement living projects and the sector.”
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Lendlease $270 million Bernborough Ascot to be most sustainable retirement community

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Beyond Hurstville is the latest project from the design-minded developer Fridcorp.

The $700 million project at 93 Forest Road, Hurstville in Sydney's south-west has 563 apartments across four towers and is set to be one of the best mixed-use developments in the suburb.

Urban has taken a look at the eight reasons why Beyond Hurstville should be on your shortlist.

[smartcode_project:default project_id=6798]

<h2>1. The developer</h2>

The Melbourne-based Fridcorp is one of Australia's most designed-focused developers. Founded in 1997 by Paul Fridman and Nigel Givoni, Fridcorp have primarily focused their development efforts in their home state, which makes a quality Fridcorp development in Sydney hard to find,

They developed the Erskineville apartment development Eve, comprising 197 apartments, which they completed in 2016, as well as the nearby apartment and townhouse development Wonder.

They've had success with a number of developments in South Yarra including Avenue and lilli.

Fridcorp believed in Beyond Hurstville so much that last year they bought out the remaining 50 per cent share of the project from Wingate.

<h2>2. Architects </h2>

Fridcorp called in DKO Architecture, who designed Eve in Erskineville, and Woods Bagot, to create the four sculpted towers articulating a timeless, organic form.

The two revered architects have worked in collaboration alongside 360 Degrees Landscape and Piety Group to deliver the project which will also feature work from artists Dina Broadhurst and Brooklyn Whelan.

<a href="/buildings/beyond-hurstville-93-forest-road-hurstville"><img alt="" height="784" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beyond_hurstville_1_0.jpg" width="1200"></a>

<h2>3. Wellness by Fridcorp</h2>

Fridcorp recognised the need for residents to have more than just a solid wellness focus within its communal facilities.

‘Wellness by Fridcorp’ systems introduced in the apartments focus on enhancing the natural elements of indoor air, water and light through air purification, water filtration and innovative circadian lighting technology to promote a well-balance mind, body and regenerative sleep.

<a href="/buildings/beyond-hurstville-93-forest-road-hurstville"><img alt="" height="846" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beyond_living_room.jpg" width="1200"></a>

<h2>4. Wellness features in the development</h2>

The wellness elements of Beyond Hurstville don't just exist in the apartment. The development features a raised podium complete with a gym, yoga studio, sauna, tai chi meditation deck, community garden and a communal sports court.

Residents will be able to reserve spaces using the Beyond community mobile phone application, as well as access a virtual concierge, book a dog walking service or a personal training session.

The app will also allow users to connect with the precinct and wider Hurstville community, explore nearby activities and receive offers from local retailers.

<a href="/buildings/beyond-hurstville-93-forest-road-hurstville"><img alt="" height="718" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beyond_hurstville_2_0.jpg" width="1200"></a>

<h2>5. Dine with friends</h2>

On the same podium there's an indoor dining and lounge area as well as outdoor barbecue pods and teppanyaki grills set in lush landscaped gardens from 360 Degrees Landscape.

There will also be restaurants located at the foot of the building.

<a href="/buildings/beyond-hurstville-93-forest-road-hurstville"><img alt="" height="1061" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beyond_hurstville_dining.jpg" width="1600"></a>

<h2>6. Affordable entry price</h2>

First home buyers have already descended on Beyond Hurstville due to its entry price.

One bedroom apartments in Beyond Hurstville start from $585,000, well below the soaring Sydney median apartment price of $738,254. CoreLogic's monthly update in March saw apartment prices rise 1.2 per cent over February.

The one bedroom apartments with a multi-purpose room are just over the median, starting from $785,000. Two bedrooms are priced from $870,000 and three bedrooms from $1,325,000.

<a href="/buildings/beyond-hurstville-93-forest-road-hurstville"><img alt="" height="862" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beyond_living_room_2.jpg" width="1200"></a>

<h2>7. Location</h2>

Hurstville has a pedestrian-friendly walk score of 81/100, meaning most daily tasks can be accomplished on foot, while walking trails and bike paths connect Hurstville to surrounding suburbs and parklands.

The development is also close to a range of schools, from day care age through to secondary school.

To find out more about what's near Beyond Hurstville, <a href="/news/nsw/amenity-highlights-whats-within-walking-distance-of-beyond-hurstville">click here</a>.

<h2>8. Convenience</h2>

On the doorstep of the mixed-use building is a 4,500 sqm retail precinct, anchored by Woolworths. There will be a number of specialist retail stores surrounding the supermarket.
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The $700 million project in Sydney's south-west has 563 apartments across four towers and is set to be one of the best mixed-use developments in the suburb.

Eight reasons Hurstville apartment development Beyond Hurstville should be on your shortlist

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Move-in date is approaching for buyers in Melbourne's latest Docklands apartment complex, The Docklands Residences.

The 88 apartments have been built above a 200 room Marriott Hotel, the first built in Australia for over two decades.

It allows apartment buyers access to onsite amenities rarely seen in regular apartment developments across the country.

They will be able to enjoy the use of 5-star hotel amenities including a spectacular infinity pool with views across Melbourne, its adjoining pool bar, a gym, sauna and spa, as well as Marriott’s hotel services such as room service, concierge and housekeeping.

Urban recently spoke to Jesse Lindardi, director at architecture firm DKO, and Mohan Du, founder and chief executive of Capital Alliance, about The Docklands Residences design and why the Docklands area was chosen for the development.

[smartcode_project:default project_id=3205]

JR: What was the brief DKO Architecture were given for the project? 
JL: The brief was to create a sleek and modern hotel that boldly illustrates the evolution of the 5-star Marriott brand while providing integrated residences where owners can experience all of the amenities a premium hotel can provide.

The result is a distinguished design housing 200 first-class hotel rooms as well as 110 contemporary residences across dual towers.

JR: Where was the inspiration from the design drawn from? Any building/experience in particular? JL: To find inspiration for the form of the building, we only had to look at the luxury yachts around Docklands. Our architecture is imbued with a similar elegant, curved design.

A translucent screen wraps around the building, providing winter gardens enclosed in glass, with the curved façade providing multiple and enviable aspects of the water, the city and the Bolte Bridge. Sleek, sculptural, sophisticated - the architecture of Marriott Docklands presents a new landmark of luxury inspired by the timeless style of the city at its door.

<a href="/buildings/the-docklands-residences-3-43-waterfront-way-docklands"><img alt="" height="804" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docklands_residences_3_0.jpg" width="1200"></a>

JR: What was the most difficult part of the planning process? JL: The most difficult part of the planning process was ensuring the building didn’t negatively affect the street’s pedestrian experience.

The building’s form and orientation were carefully considered to minimize overshadowing to the nearby NewQuay Central Park, while wind studies determined a more curved form to enable wind to flow around the building, rather than deflecting down to the street.

JR: How important are the amenities to a project like this?  JL: Extremely. There’s an aspiration and expectation from a luxury brand like Marriott – and this is experienced as soon as you walk in the door. Melbourne-based artist, Alexander Knox, has created an impressive sensory public art installation within the lobby. The remarkable large-scale, multi-media piece draws reference from the site’s history and reflects the unique character of its location. 
Not only are there ground-floor restaurants, executive facilities and state-of-the-art function spaces, but sitting high at level 15 is a chic bar capitalizing on the building’s spectacular views. And you can’t forget the stunning rooftop infinity pool. The hotel will be a flagship in Australia and a true example of the Marriott brand’s sophisticated style and innovative functionality.

JR: Was the plan always to have an open rooftop infinity pool? 
JL: There was a desire to create something spectacular for the pool. From 15 storeys high, visitors and residents can take in the wonderful 180-degree views of CBD and Yarra River with the vanishing edge giving the impression you could paddle out among the skyscrapers. At night, tiny fibre optic lights at the base of the pool twinkle to spectacular effect – the perfect place to sip a poolside cocktail.

<a href="/buildings/the-docklands-residences-3-43-waterfront-way-docklands"><img alt="" height="899" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docklands_residences_2.jpg" width="1200"></a>

JR: What was so appealing about the site and/or the Docklands area? MD: Docklands was always touted as the Waterfront City, often compared to areas nearby Darling Harbour. Needless to say, Docklands has had its difficulties and stigmas. However, it's evident Docklands has changed drastically over the last 5 years.

As a new business at the time, this was an opportunity for us to stand behind and create something that would positively contribute to this fantastic suburb. Therefore, the most appealing aspect of the site was that when no one wanted to invest in Docklands, we saw that as an appealing opportunity. We have taken this approach to all our projects.

JR: What are the benefits for buyers/residents in a mixed-use hotel development? MD: All residents living atop 5-star Melbourne Marriott Hotels Docklands will be able to get exclusive Membership access to a range of services and amenities provided by the hotel. This includes the use of the infinity pool, pool bar, gym, spa, and room service - all with strict adherence to conditions.

Having access to all these services and amenities right at your doorstep offers a unique convenient lifestyle, which we have seen become desirable in other metropolis cities like New York, London, Singapore, and Hong Kong.
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The 88 apartments have been built above a 200 room Marriott Hotel, the first built in Australia for over two decades

Why owner-occupiers love The Docklands Residences: Urban chats with architecture firm DKO and Capital Alliance founder Mohan Du

The multi-national property developer EcoWorld International has completed construction on its $250 million South Yarra development, Yarra One.

The 26 level tower, designed by Fender Katsalidis, homes&nbsp;247 one, two and three bedroom apartments. With settlement currently underway, the project&nbsp;is around 80 per cent sold. There were&nbsp;a mix of buyers, but downsizers and investors saw the greater attraction to the building.

There are also three penthouses, two of which have sold to downsizers.

[smartcode_project:default project_id=3127]

Yarra One marks EcoWorld International&#39;s second Australian project, having last year completed West Village​ in Sydney&#39;s Parramatta.

EcoWorld International Australia CEO Mr Yap Foo Leong&nbsp;said it&rsquo;s an exciting time for the company after what has been a challenging year.

&ldquo;Yarra One is a great success story for EcoWorld International,&quot; Mr Leong said.

<a href="/buildings/yarra-one-16-22-claremont-street-south-yarra"><img alt="" height="788" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/yarra_one_apartment_0.jpg" width="1200" /></a>

&quot;Being our maiden project in Melbourne, we are thrilled with the result particularly given several headwinds along the way; stamp duty changes and COVID-lockdown delays namely.&rdquo;

Builders Hickory constructed the Fender Katsalidis-designed tower which was designed with pure&nbsp;geometry, circular, elliptical and rectilinear patterns.

The Claremont Street atrium is one of the most striking elements of the building.&nbsp;

Fender Katsalidis considered the bustling, popular laneways that Melbourne is famous for in the design of the atrium which features a number of shopping outlets.

&ldquo;The timber look trellis enclosing the atrium is a signature feature that acts to create a sense of retreat and allows light to filter within the space throughout the day resulting in an ever-changing environment,&rdquo; Fender Katsalidis Director Nicky Drobis said.

<a href="/buildings/yarra-one-16-22-claremont-street-south-yarra"><img alt="" height="1827" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/yarra_one_exterior_2.jpg" width="1200" /></a>

EcoWorld have considered the sustainability even further than the four-star green building achieved. Residents will have access to a Victorian first, sustainable car-sharing model in a multi-residential setting with exclusive use of a brand new Tesla.

&ldquo;Yarra One already boasts a phenomenal walk score of 92, with the car-share adding another layer of sustainability and future-proofing,&quot; Mr Leong added.

Purchasers also had the option to include a charging point within their designated car space.

[smartcode_project_cta: project_id=3127]

Yarra One marks EcoWorld International's second Australian project, having last year completed West Village​ in Sydney's Parramatta.



EcoWorld International's Yarra One development completes construction

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Expert Observer

<h2>National accounts</h2>

‘V-shaped’ recovery: The Australian economy (as measured by gross domestic product or GDP) grew by 3.1 per cent in the December quarter (consensus: +2.5 per cent) after rising 3.4 per cent in the September quarter and contracting 7 per cent in the June quarter. It was the biggest six-month lift in GDP since quarterly records began in 1959. GDP is still 1.1 per cent smaller than a year ago.

Annual result: In 2020, the economy contracted 2.5 per cent (biggest fall since 1947) after growing 1.9 per cent in 2019.

Contribution to growth: The biggest contributions to growth came from household spending (+2.3 percentage points); business equipment (+0.3pp); ownership transfer costs, dwellings, government consumption (all +0.2pp); and public investment (+0.1pp). But detracting from growth was net exports, commercial construction and inventories (all -0.1pp).

[smartcode_project:default project_id=7275]

Income: Real net national disposable income rose by 4.9 per cent in the December quarter and was up by 2.1 per cent on the year. In nominal terms GDP rose by 4.2 per cent in the quarter and rose by 0.6 per cent over the year.

Productivity: GDP per hours worked was flat in the December quarter but was up by 2.5 per cent on the year.

Industry sectors: Seventeen of the 19 industry sectors grew in the December quarter. The biggest contribution to the overall increase in output came from Agriculture, Forestry and Fishing (+0.5 percentage points) from Professional, Scientific and Technical Services and Administrative and Support Services (both +0.3pp). Output fell 1.0 per cent in Mining in the quarter with Electricity, Gas, Water and Waste Services down 0.9 per cent.

[smartcode_project:default project_id=92985]

<h2>What does it all mean?</h2>

It has been a most curious period for the Australian economy. After entering recession in the first half of 2020, the economy roared back in the final six months of the year. Clearly it has been all about Covid-19. Australian governments and the central bank responded quickly in locking down the economy and in providing the support and stimulus to families and businesses. The moves to suppress the virus were effective as were the support and stimulus measures.

<img alt="" height="977" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/record_gdp_commsec.jpg" width="1200">

The ‘V-shaped’ nature of the recovery is everywhere to see – economic growth, the job market, retail spending and the housing market. The Reserve Bank acknowledges that the recovery has been stronger than expected.

But the job is not done. The economy is still around 1 per cent smaller than a year ago. Unemployment is still too high; inflation and wage growth are still too low. But the forward indicators like job ads and business and consumer surveys are positive.

We expect the economy to rebound 4.2 per cent in 2021 after contracting 2.5 per cent in 2020. Much still depends on Aussies doing the right thing with social distancing measures. The vaccine roll-out is in the infancy. And then there is the risk posed by mutant strains of the virus.

[smartcode_project:default project_id=2772]

Stimulus and support measures are still very much required, and any scale-back needs to be carefully managed. The Reserve Bank certainly hasn’t changed its rhetoric. Rates will remain low for another three years. Bond buying will continue. Cheap loans will remain under offer to business.  

The all-important jobless rate is expected to ease from 6.4 per cent currently to 5.7 per cent by the end of 2021. While still high, clearly it is moving in the right direction. But spare capacity will remain in the job market for a few more years, keeping the cash rate anchored at 0.1 per cent.  

Craig James is the chief economist at CommSec
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We expect the economy to rebound 4.2 per cent in 2021 after contracting 2.5 per cent in 2020

Biggest economic rebound on record: CommSec's Craig James

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Expert Observer

The Q4 National Accounts confirmed a brisk rebound in activity.

GDP printed at 3.1%qtr, -1.1%yr.

This was above expectations, market median and Westpac 2.5%.

[smartcode_project:default project_id=7275]

As we had flagged, the risks were to the upside – with the expenditure partials having surprised to the high side. That is how it played out.

The key theme, the economy rebounded rapidly through Q3, +3.4%, and Q4, +3.1%, with considerable momentum into 2021.

Consumers and businesses are upbeat, state governments are spending up, the housing market is red hot and the vaccine roll-out is underway.

Success on the health front has permitted the rolling back of most, but not all, covid restrictions. Victoria emerging from a second lock-down boosted activity in Q4 and will do so again in Q1.

[smartcode_project:default project_id=92985]

The recovery broadened in Q4:

(1) home building, up 4.1%, following a +1.6% for Q3, the first gains since June 2018, in response to cheap credit and government incentives, and

(2) business investment advanced, up 2.6%, led by equipment spending, +8.1%, in response to the accelerated depreciation allowance. That follows a string of negatives.

Real estate activity (ownership transfer costs) surged a further 15.2%, after a 21.6% rebound in Q3, to be 15.3% higher over the year – with the established housing market booming.

Consumer’s ability and willingness to spend is the key dynamic – certainly the relaxing of covid restrictions provides consumers with more opportunities to spend.

[smartcode_project:default project_id=2772]

The household saving ratio spiked to 22% in Q2, on the drop in spending associated with the lock-down and the wave of government income support. The savings rate moderated to 18.7% in Q3 and retraced to 12% in Q4 and will unwind further in 2021.

The critically important point, while there was a tapering of government support in Q4, which saw business profits moderate off a high level, consumers have a sizeable savings buffer to fund a further lift in spending – and that is what they are choosing to do.

The consumer picture was largely as expected with spending posting another strong gain, led by normalising conditions in Victoria, and despite a material drag on incomes from reduced fiscal supports.

Total consumption rose 4.3%qtr to be down just 2.7%yr. Victoria posted a 10.4% gain in the quarter, spending up 2.3%qtr across the other states combined.

The spending detail was a little stronger than expected around vehicles and retail but a touch softer than expected on services.

[smartcode_project:default project_id=24323]

Around incomes, wages rose 1.4%qtr with a strong increase in employment and hours worked more than offsetting initial drags from the wind-back in JobKeeper support. However real disposable income – including small business and non wage incomes and net of interest and tax – recorded a sizeable 3.3% fall. The rise in spending was thus funded out of a reduction in new savings, the savings rate falling from 18.7% in Q3 to 12% in Q4

Public demand continues to be a growth driver, up 1.0% in the quarter and a very brisk 6.5% over the year, in part driven by the response to covid.

Net exports were a small negative, -0.1ppt, as imports roared back, +4.9%, to meet the brisk rebound in domestic demand. Inventories, in total, subtracted -0.1ppt.

In other detail, the Expenditure measure of GDP printed at 3.0%, Income at 3.3% and Production at 3.1%.

Andrew Hanlan is a senior economist at Westpac.
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Consumers and businesses are upbeat, state governments are spending up, the housing market is red hot and the vaccine roll-out is underway.

December quarter sees GDP grow 3.1%: Westpac's Andrew Hanlan's insights

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The Potter Group has expanded its Gold Coast portfolio with the acquisition of a blue-chip beachside development site in Palm Beach.

They've paid $1.3 million for the 549 sqm site at 1079 Gold Coast Highway site, which has frontage to famous Jefferson Lane.

Potter Group CEO John Potter said the purchase was perfect fit for the company, currently developing a number of up-market residential and industrial warehousing, commercial showroom and office projects on the Gold Coast and Byron Bay.

“Jefferson Lane is certainly one of the jewels in the crown so we are very pleased to have acquired this prime site in one of the highest Gold Coast growth regions over the past two years,’’ Mr Potter said.

“The site has enormous potential located on the Gold Coast Highway with frontage to Jefferson Lane and within close proximity to the beachfront, shopping, schools, parks and Tallebudgera Creek.”

The Potter Group also owns Central on Broadbeach comprising 13 separate titles acquired over six years and held for the past 12 years.

Development Approval has been received for the $700 million redevelopment of Central on Broadbeach into sophisticated mixed use residential, commercial and retail development comprising twin towers over a three-level podium base and four levels of basement car parking.

<h2>Nearby Palm Beach developments</h2>

Cabana, Palm Beach 
Address: 1 Nineteenth Avenue, Palm Beach QLD 4221 
Three-bedroom apartments from $2,325,000

[smartcode_project:default project_id=84861]

 
Delivered by Ignite Projects, Cabana offers the best in luxury resort-style living.

The island-like oasis is located across from the recently completed Palm Beach artificial reef and includes its own private beach club.

A key feature of the development’s design, the private beach club includes day beds on and off the water, beachfront and poolside cabanas. 
 
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Potter Group CEO John Potter said the purchase was perfect fit for the company


The Potter Group secure prime Palm Beach development site fronting Jefferson Lane

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The boutique development Foam Street in the Bayside Melbourne suburb of Elwood has secured sales of nearly half of its apartments at its recent launch.

Developer Goldfields has seen demand coming from an emerging market which have been dubbed "Baychangers."

Goldfields chief operating officer Lachlan Thompson said five of the project’s twelve boutique apartments had already been snapped by buyers up on the first few days of the sales campaign.

[smartcode_project:default project_id=31641]

“The Elwood brand is one of the strongest in Melbourne, especially for buyers looking to downsize to a smaller and more convenient home in a vibrant community that offers exciting lifestyle and entertainment options,” Thompson said.

“As a result, the supply of low-maintenance luxury apartments in Elwood’s established property market is far outweighed by demand, with many looking to alternatives, such as boutique new developments, like Foam Street, Elwood.

“These buyers are looking shorten and simplify the homebuying process and avoid the frustration associated with the existing property market.

<a href="/buildings/foam-street-1-3-foam-street-elwood"><img alt="" height="891" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/foam_street_elwood.jpg" width="1200"></a>

“They want to live ‘life after the family home’ somewhere with a little more ‘soul,’ somewhere more intimate and personal; the type of place where you know your neighbours by their first name.”

Jackson Clements Burrows designed the development of two and three bedroom apartments in conjunction with Studio Tate.

“FOAM STREET apartments are designed to be entirely of their place – reflecting and complementing the street’s vernacular – thus creating a discerning identity within their environment. Each dwelling offers expansive living areas, private outdoor spaces and enduring finishes," Tim Jackson, director at Jackson Clements Burrows said.

The project sits in landscaped surrounds designed by Eckersley Garden Architecture.

The Agency's Michael Paproth said, as well as demand from locals who want to remain in the area, there is a rapidly emerging market of buyers from outside the broader Bayside area.

“Baychangers tend to be semi-retired or retired professionals, typically from the inner-eastern suburbs, whose children have started their own families, and who are looking for a lifestyle change, but without the distance associated with a treechange or seachange," Paproth said.

“Despite being right next door to each other, the Bayside and inner east can be quite different in terms of community, culture and lifestyle."

 
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Developer Goldfields has seen demand coming from an emerging market which have been dubbed "Baychangers."



What is a Baychanger? Boutique Elwood development Foam Street see 'Baychanger' demand

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RBA ANNOUNCEMENT

At its meeting today, the Board decided to maintain the current policy settings, including the targets of 10 basis points for the cash rate and the yield on the 3-year Australian Government bond, as well as the parameters of the Term Funding Facility and the government bond purchase program.

The outlook for the global economy has improved over recent months due to the ongoing rollout of vaccines. While the path ahead is likely to remain bumpy and uneven, there are better prospects for a sustained recovery than there were a few months ago. Global trade has picked up and commodity prices have increased over recent months. Even so, the recovery remains dependent on the health situation and on significant fiscal and monetary support. Inflation remains low and below central bank targets.

The positive news on vaccines together with the prospect of further significant fiscal stimulus in the United States has seen longer-term bond yields increase considerably over the past month. This increase partly reflects a lift in expected inflation over the medium term to rates that are closer to central banks' targets. Reflecting these global developments, there have been similar movements in Australian bond markets. Changes in bond yields globally have been associated with volatility in some other asset prices, including foreign exchange rates. The Australian dollar remains in the upper end of the range of recent years.

[smartcode_project:default project_id=30087]

In Australia, the economic recovery is well under way and has been stronger than was earlier expected. There has been strong growth in employment and a welcome decline in the unemployment rate to 6.4 per cent. Retail spending has been strong and most of the households and businesses that had deferred loan repayments have now recommenced repayments. The recovery is expected to continue, with the central scenario being for GDP to grow by 3½ per cent over both 2021 and 2022. GDP is expected to return to its end-2019 level by the middle of this year.

Wage and price pressures are subdued and are expected to remain so for some years. The economy is still operating with considerable spare capacity and the unemployment rate remains higher than it has been for some years. Further progress in reducing spare capacity is expected, but it will be some time before the labour market is tight enough to generate wage increases that are consistent with achieving the inflation target. In the central scenario, the unemployment rate will still be around 6 per cent at the end of this year and 5½ per cent at the end of 2022. In underlying terms, inflation is expected to be 1¼ per cent over 2021 and 1½ per cent over 2022. CPI inflation is expected to rise temporarily because of the reversal of some COVID-19-related price reductions.

[smartcode_project:default project_id=6798]

The current monetary policy settings are continuing to help the economy by keeping financing costs very low, contributing to a lower exchange rate than otherwise, and supporting the supply of credit and household and business balance sheets. Together, monetary and fiscal policy are supporting the recovery in aggregate demand and the pick-up in employment.

Lending rates for most borrowers are at record lows and housing prices across Australia have increased recently. Housing credit growth to owner-occupiers has picked up, but investor and business credit growth remain weak. Lending standards remain sound and it is important that they remain so in an environment of rising housing prices and low interest rates.

[smartcode_project:default project_id=27728]

The Bank remains committed to the 3-year yield target and recently purchased bonds to support the target and will continue to do so as necessary. Also, bond purchases under the bond purchase program were brought forward this week to assist with the smooth functioning of the market. The Bank is prepared to make further adjustments to its purchases in response to market conditions. To date, a cumulative $74 billion of government bonds issued by the Australian Government and the states and territories have been purchased under the initial $100 billion program. A further $100 billion will be purchased following the completion of the initial program and the Bank is prepared to do more if that is necessary. Authorised deposit-taking institutions have drawn $91 billion under the Term Funding Facility and have access to a further $94 billion. Since the start of 2020, the RBA's balance sheet has increased by around $175 billion.

The Board remains committed to maintaining highly supportive monetary conditions until its goals are achieved. The Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. For this to occur, wages growth will have to be materially higher than it is currently. This will require significant gains in employment and a return to a tight labour market. The Board does not expect these conditions to be met until 2024 at the earliest.
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Housing prices across Australia have increased recently: RBA Governor Philip Lowe's March 2021 meeting statement

<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

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

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

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

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

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

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

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

Joel Robinson

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