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Research conducted by the Urban Development Institute of Australia says purchaser power is at its lowest point in 10 years. In response to this Melbourne developer SMA Projects is looking at making home ownership a reality for first home buyers, by negotiating longer settlements (of up to nine months) and allowing residents to move in and pay a monthly nominal fee which is credited against the eventual settlement.

The first project to offer these incentives to purchasers is SMA's Yorkshire Brewery project.Located at 1-21 Robert Street Collingwood, the Yorkshire Brewery provides contemporary inner-city living through the redevelopment and adaptive re-use of the former heritage-listed site into 356 luxury apartments and townhouses, designed by Hayball.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/yorkshire_brewery_peter_clarke_print_32.jpg" rel="gallery-all" title="The Yorkshire Brewery redevelopment in Collingwood. Image: Peter Clarke"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/yorkshire_brewery_peter_clarke_print_32.jpg?itok=v4LShAGy" title="The Yorkshire Brewery redevelopment in Collingwood. Image: Peter Clarke" width="580"></a>

<figcaption>The Yorkshire Brewery redevelopment in Collingwood. Image: Peter Clarke</figcaption></figure>According to SMA Projects, many first home buyers are seeking to purchase a home within close proximity to Melbourne’s CBD - particularly the inner-north - capitalising on the cafe culture, accessibility, hospitality offerings, amenities and lifestyle associated with inner-city living. 

<blockquote>
“The creative and amenity-rich offering of Melbourne’s inner-north makes this area a haven for residents. Recently voted as one of Melbourne’s healthiest suburbs to live in and one of the easiest suburbs to actively commute from, you can see why a suburb like Collingwood is in demand.

In offering purchasing opportunities to buyers who are seeking this eclectic lifestyle ensures we can strengthen the character and built environment of these suburbs. Taking into consideration the rising house prices in Collingwood, SMA Projects has sought to actively collaborate with buyers to help them enter the property market at a stage where timing or their financial situation was considered a barrier.

The initiative has been well received by first home buyers who have responded positively to the flexibility and accountability that SMA Projects as an established developer has been able to offer. Where first home buyers have been traditionally priced out of these inner-city suburbs, SMA Projects is proud to help realise their dream of home ownership sooner than they may have otherwise anticipated.

SMA Projects takes a holistic approach to its developments to cater to purchasers at different stages of their lives. SMA Projects is committed to working closely with our purchasers to reach a mutually beneficial agreement that ensures both parties achieve the best outcome.

Acknowledging the current demands of first home buyers while also considering the future needs of young families, downsizers and the elderly will ultimately create a more sustainable development that will enrich Fitzroy and contribute to its vibrant community."

- Robert Murphy, SMA Projects development manager
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/fitzroy_ltd_1.jpg" rel="gallery-all" title="SMA Projects is offering a series of initiatives targeted towards first home buyers at Fitroy Ltd. Image: SMA Projects"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/fitzroy_ltd_1.jpg?itok=7q0BaSZr" title="SMA Projects is offering a series of initiatives targeted towards first home buyers at Fitroy Ltd. Image: SMA Projects" width="580"></a>

<figcaption>SMA Projects is offering a series of initiatives targeted towards first home buyers at Fitzroy Ltd. </figcaption></figure>Due to the positive response to the first home buyer initiatives at Yorkshire Brewery, SMA Projects will be looking to employ a similar strategy at its Fitzroy Ltd. development. Located at 250 Gore Street, the seven-storey development has been designed by Hayball to sit comfortably within the streetscape, drawing on the industrial history and vernacular of the area.

SMA Projects says purchasers at Fitzroy Ltd are able to negotiate flexibility in the payment of their deposit whilst construction is occurring, with the developer hoping the initiative helps alleviate the significant upfront financial outlay that traditionally comes with settlement.

Demolition of current structures at the Fitzory Ltd site is expected to commence next month, with construction slated for early 2019 and an anticipated completion date of December 2020. Fitzroy Ltd marks SMA Projects’ third project on Gore Street including the currently under construction The Lyric and the completed Veludo.
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Laurence Dragomir

SMA Projects seeks to make First Home ownership more accessible

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Having secured a permit for a commercial development at 200 Victoria Parade, East Melbourne, joint venture partners <a href="/developers/time-place">Time &amp; Place</a> and <a href="/developers/golden-age-group">Golden Age Group</a> have launched the $280 million project as Victoria Place.

Designed by <a href="/architects/fjmt">FJMT</a>, Victoria Place comprises approximately 26,000 sqm of net lettable area (NLA) and includes world-class end-of-trip facilities, a sky terrace, expansive city views and a collection of retail, café and associated amenities. The development team engaged FJMT for the project based on its expertise in delivering high-quality commercial developments such as 200 George Street and Liberty Place in Sydney.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/time_and_place_200victoriapde_balcony_render_sr.jpg" rel="gallery-all" title="Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/time_and_place_200victoriapde_balcony_render_sr.jpg?itok=APcOeKUx" title="Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place" width="580"></a>

<figcaption>Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place</figcaption></figure>Time &amp; Place Property was founded by experienced developer, Tim Price in early 2015 and has grown to now manage more than $3.5 billion worth of projects across the eastern seaboard. With Victoria Place, Time &amp; Place celebrates its 8th venture in property development, with more than 18 projects already under management.

Golden Age Group’s diverse development portfolio of residential and commercial has an estimated value of $4.2 billion with another $1.5 billion worth of projects in the pipeline. The developer is responsible for Melbourne CBD’s tallest residential building - <a href="/buildings/victoria-one-452-472-elizabeth-street-melbourne">Victoria One</a>, the world’s fourth slimmest building - the under construction <a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House</a>, and <a href="/developments/melbourne-vic-3000">85 Spring Street</a> - currently at sales.

Upon completion, Victoria Place will provide a focus on wellness, targeting a 5-star Green Star office design, a 4.5-star NABERS (National Australian Built Environment Rating System) and 4.5-star WELL™ rating by the International WELL Building Institute; including fitness and lifestyle amenities such as 160 bicycle spaces, 22 showers, 308 lockers and a bike repair station.

According to Golden Age Group, the CBD’s historic low commercial vacancy rates and tightening of lending to residential buyers had created a favourable environment for the developer to focus on expanding its commercial portfolio. Time &amp; Place expects Victoria Place to "(raise) the bar for workplace design in Melbourne", via leading sustainability and productivity amenities.

Colliers International are managing the sales and leasing campaign, noting the strength of the East Melbourne commercial market is on the rise. An Expression of Interest process has been launched with more information available at: http://www.victoriaplace.com.au/

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/time_and_place_200victoriapde_foyer_render_sr.jpg" rel="gallery-all" title="Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place"><img alt="" class="image-article-full-width-580px" height="416" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/time_and_place_200victoriapde_foyer_render_sr.jpg?itok=mamdoRpo" title="Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place" width="580"></a>

<figcaption>Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place</figcaption></figure><h2>What they say...</h2>

<blockquote>
The building offers natural light on three sides across generous floor plates between 2,100sqm and 2,750sqm. The lift core and floor plate are designed to allow for customisation, modern activity-based workplace designs and inter-floor vertical communities.

The site is positioned at the entry post from East Melbourne to the CBD, with the picturesque Fitzroy Gardens and the vibrant northern suburbs at its doorstep. It also boasts prime connections to public transport with a tram stop at the front door and Parliament Train Station a short five-minute stroll away.

The building will also be in the unique position to offer extensive car parking in a three-level basement accessed from Lansdowne street frontage. With the CBD on one side, the best of Fitzroy’s food on the other and direct access to the city’s best parks and gardens and the MCG sporting precinct, this is arguably the best office location in the city.

- Tim Price, founder and director of Time &amp; Place
</blockquote>

 

<blockquote>
We are proud to be co-developing alongside long-time collaborators Time &amp; Place on this benchmark project for Melbourne workplace design. As a nimble developer, we can quickly change our approach based on the strongest asset class at the time. As the conditions become favourable in the commercial market, we have moved quickly to solidify our position.

- Jeff Xu, Golden Age Group founder and managing director
</blockquote>

 

<blockquote>
The tightening office availability in the CBD speaks for itself. Further, the number of enquiries we have received has almost tripled for East Melbourne when comparing June YTD 2018 data to June YTD 2017; and we’re seeing almost 10 times more interest in terms of the amount of space asked for, due to larger requirements in the market and a desire to be situated on the literal CBD fringe.

- Andrew Beasley, Colliers International
</blockquote>
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Time & Place and Golden Age launch Victoria Place in East Melbourne

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Today we chat to an Apartments.com.au favourite in Beller's Fred Nucara. Fred discusses current commercial leasing trends, the 'MKR Effect', the impact UberEats and the like are having on food and beverage tenants, and how development can contribute to vacancies in the short term on high streets like Chapel Street.

Finally Fred gazes into his crystal ball to provide a forecast for the Melbourne market in 2019.

<iframe allow="autoplay" frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/536078538&amp;color=%23ff5500&amp;auto_play=true&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true" width="100%"></iframe>
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Weekly Podcast - Episode 41: Beller's Fred Nucara talks commercial leasing

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Capital Alliance has appointed Icon Co to build its 17-storey The Docklands Residences, which will include a 200 room Marriott hotel - the first to be built in Australia in 20 years. Located within The District Docklands precinct, the $250 million mixed-use development has been designed by DKO Architecture, and will also include 100 oversized one to three-bedroom apartments in addition to Marriott Docklands.

The architects have conceived the development as two interlinked sculptural petal-shaped towers that will intersect with vertical plantings adding an element of nature while also providing privacy between apartments. The centrepiece of the development will be a rooftop infinity pool and serviced by an adjoining bar. At ground-level an additional bar, restaurant and laneway cafe will be open to guests, residents and visitors to the development.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/the_docklands_pool.jpg" rel="gallery-all" title="The Docklands Marriott will boast a 28m infinity pool. Image: Capital Alliance"><img alt="" class="image-article-full-width-580px" height="403" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/the_docklands_pool.jpg?itok=SOkCHT1v" title="The Docklands Marriott will boast a 28m infinity pool. Image: Capital Alliance" width="580"></a>

<figcaption>The Docklands Marriott will boast a 28m infinity pool. Image: Capital Alliance</figcaption></figure>The development will be built above the former Harbour Town shopping centre now known as The District Docklands - a retail, leisure and entertainment precinct on Waterfront Way. Hotel rooms and apartments will encompass views of the sunset in the west over the Bolte Bridge or views back towards the Melbourne skyline.

According to Capital Alliance, the Marriott Docklands represents an exciting landmark for the precinct and he was optimistic about what the project would offer future residents and guests.

Icon is the result of the recent merger of Icon Co and Cockram Australia to form one of Australia’s largest construction companies under parent company Kajima Corporation, with The Docklands Residences representing the company’s first major project delivered under the consolidated entity.

The Marriott Docklands joins WOODWORK - an 8-storey CLT office building of 8,000 sqm under construction within The District, with construction also progressing at The Market which will include a Woolworths supermarket, complimented by Dan Murphy’s and a large scale Asian grocer.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/the_district_construction.jpg" rel="gallery-all" title="Construction progress at The District. Images: Urban.com.au member redden"><img alt="" class="image-article-full-width-580px" height="216" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/the_district_construction.jpg?itok=GUv4Yvxk" title="Construction progress at The District. Images: Urban.com.au member redden" width="580"></a>

<figcaption>Construction progress at The District. Images: Apartments.com.au member redden</figcaption></figure>A new Entertainment and Dining Precinct recently opened featuring a HOYTS, Asian hawker-style restaurant 8Eight Street and micro-brewery Urban Alley Brewery plus entertainment by Archie Brothers Electric Circus. Icon will commence site establishment works on the Marriott Docklands next month with an expected completion date of mid-2020.

Early, last week it was also announced that MAB had received approval for its NewQuay West Master Plan. Look out for our Q&amp;A with MAB General Manager - Residential, David Allt-Graham.

<h2>What they say...</h2>

<blockquote>
Icon Co has a strong reputation in delivering high quality projects and we are confident they will deliver on this landmark project for Docklands. It’s been a long time coming for this project, so we’re tremendously excited in moving forward to commencing construction shortly and delivering the Docklands Residences and the first Marriott to be built in Australia in 20 years.

- Mohan Du, Capital Alliance founder and Chief Executive
</blockquote>

<blockquote>
This is a significant and exciting project for Melbourne and Icon is thrilled to be playing a major part. In the past 18-months, hotels have made a real comeback in Melbourne, and the Marriot Docklands will be one of the first international luxury offerings to be completed in this wave - an accomplishment we will be extremely proud of.

- Evan Byrne, Icon Director
</blockquote>

<blockquote>
This marks another significant milestone in the continued evolution of the precinct. More importantly, it highlights the rapid growth and extensive development pipeline in the area, which reinforces our vision of creating a world class ‘urban village’ and underpins our long-term investment strategy in The District and the broader Docklands precinct.

- Michael Moss, AsheMorgan Principal and owner of The District Docklands
</blockquote>

 
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Icon Co Appointed to build Docklands Marriott

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MAB has unveiled its vision for the completion of its NewQuay precinct, following State Government approval the NewQuay West Masterplan, which represents the final stages of the 14-hectare site. The endorsed plan features a 4,000 sqm linear park linking NewQuay's Central Park and the Ron Barassi Snr sports reserve at the western end of NewQuay, in addition to five new residential buildings. The AFL is expected to relocate to an adjacent waterfront site to facilitate the Marvel Stadium redevelopment in the coming years.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/newquay_aerial.png" rel="gallery-all" title="NewQuay aerial showing the approved Master Plan for NewQuay West in context. Image: MAB"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/newquay_aerial.png?itok=p5y7-5GP" title="NewQuay aerial showing the approved Master Plan for NewQuay West in context. Image: MAB" width="580"></a>

<figcaption>NewQuay aerial showing the approved Master Plan for NewQuay West in context. Image: MAB</figcaption></figure>Urban.com.au spoke to MAB General Manager - Residential, David Allt-Graham about the company's vision for the last piece of the NewQuay puzzle.

Urban.com.au: The NewQuay West Master Plan has undergone a number of iterations over the years - what were some of the key drivers behind the current Master Plan?

David Allt-Graham: The major driver has been the collaboration with Government to plan and deliver the Ron Barassi Snr Park and forge connections with the Linear Park to create a pedestrian ‘green-spine’ through the middle of NewQuay. 

U: The Master Plan allows for greater height than NewQuay East - was this in response to MAB providing land for the creation of Ron Barassi Snr oval?

DA-G: Early plans of the West had vague concepts for open space next to the Bolte Bridge but it was not big enough for playing fields. MAB has surrendered 1.7 Hectares of land to facilitate the creation of the Ron Barassi Snr Park and MAB’s remaining land will be more densely developed. 

U: With the latter buildings in NewQuay East and more recently with NewQuay Central, MAB has engaged a variety of architects to add diversity to the precinct - will this be the case for NewQuay West and what will the process be for selecting the architects? Design competition or yet to be determined?

DA-G: We are happy with the variety of design that is emerging in NewQuay and we feel that this has been well received by Melburnians.  The quality of architects in Victoria is exceptional and we like to work with locals.  We are currently working on concept designs for two new buildings, both with architects who are new to MAB and were selected because they were a strong fit with the brief.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/mabc9697_newquay_west_e01_precinct_view_from_water.jpg" rel="gallery-all" title="The approved Master Plan will add a further five buildings to NewQuay. Image: MAB "><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/mabc9697_newquay_west_e01_precinct_view_from_water.jpg?itok=_DUbvaa-" title="The approved Master Plan will add a further five buildings to NewQuay. Image: MAB " width="580"></a>

<figcaption>The approved Master Plan will add a further five buildings to NewQuay. Image: MAB</figcaption></figure>U: When do you expect the first building at NewQuay West to be released to the market and how long do you anticipate the full completion of the NewQuay to take?

DA-G: Our current apartment project Escala is 70% sold and this is the final stage in the East of NewQuay.  The first NewQuay West project is likely to be released in early 2020, once we receive planning approval.  The final five residential stages are in the West and we expect that a new project will be released each year thereafter.

U: Any update on the status of 396 Docklands Drive and The Quarter?

DA-G: MAB continues to actively market this project and there are currently strong opportunities in the market for this project.  The site is 1 hectare which is increasingly rare and gives us great flexibility with tenants looking for large format floor plates.  Our Escala Workspaces are also being marketed and we expect that project will strengthen NewQuay’s credentials with prospective local businesses and tenants.
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MAB's David Allt-Graham on the vision for NewQuay West

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Cnstrct is a platform designed by architects - for architects, fusing high-quality design, offsite manufacturing and technology to simplify the design-and-build process worldwide.

The brainchild of architect-builder Joel Hutchines, the tech startup’s free software platform aims to put architects in the driver’s seat, revolutionizing the design and construction of buildings while resolving the inefficiencies that have plagued these industries for decades., according to Hutchines.

Cnstrct’s concept taps into Hutchines’ experience in architecture, construction, business and manufacturing management and will combine those strengths with state-of-the-art software developed specifically for the platform; resulting in better built outcomes - completed faster, smarter and cheaper.

Hutchines identified a $1.6 trillion opportunity in closing the productivity gap within the construction industry arguing it must start through rethinking the value of design and empowering architects.

<blockquote>
We are seeing significant changes in the industry with large amounts of capital being invested into ‘disruptors’, but I’ve yet to see one focused on architecture and high-quality design. The goal with Cnstrct is to provide an architect-driven platform that makes affordable customized design available to everyone. The future of architect-lead construction will result in superior, site specific, mass customized architecture.

Architects won’t need to fight for their design intent to be implemented through the building process and they can guarantee clients that their project will be completed on time and within budget. Cnstrct will help bring their visions to life, enabling them to spend their time designing. It will be the end of cookie-cutter, over standardized manufactured buildings that have no relevance to site or context

- Joel Hutchines, Cnstrct Founder and CEO
</blockquote>

Joel started his career as a carpenter but quickly found his creative side and began to explore the idea of being both a designer and builder. This lead him to study Architecture at Bond University, where he discovered the power of computer-aided design and digital fabrication.

Following his tenure at Shigeru Ban Architects, based in Tokyo, Joel co-founded Studio Workshop, a multi-disciplinary design-build firm that is equal parts design studio and fabrication workshop. His unique skill set quickly made him a desirable asset to many construction project teams; resolving complex structures with the implementation of modern construction methods and offsite manufacturing technology.

In its first 2 weeks following the soft launch of the Cnstrct website, 500 architect, interior design and property developer users across 12 countries have pre-registered, indicating their interest in using the platform. This gives Cnstrct an estimated yearly pipeline of construction work valued at over $27 billion and growing.

 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/BH8uEwaV9FQ" width="560"></iframe>

<h2>The Process</h2>

First, users will create a digital twin of their building using Cnstrct’s intuitive modeling software. The modeling process will be supported by an advanced AI system and a team of virtual consultants, which will assist the user in making real-time decisions regarding the design, engineering, code compliance, and procurement for their projects, as well as planning the logistics of onsite assembly. This software will also provide users with real-time cost and schedule updates, streamlining pre-construction and eliminating the need for value management.

Once a digital model is created it will then be sent to one of Cnstrct's local production facilities, which will utilize the latest technologies in computer-aided manufacturing, 3D printing, robotics and autonomous procurement to fabricate all of the necessary building components.

CNSTRCT is exploring manufacturing capabilities which could include:

<ul>
<li>Metal and timber framing</li>
	<li>Floor and roof cassettes</li>
	<li>CLT and glulam</li>
	<li>Wood joinery</li>
	<li>Precast concrete</li>
	<li>Structural steel</li>
	<li>Stone processing</li>
	<li>Windows and doors</li>
	<li>Custom architectural features</li>
	<li>Prefabricated bathrooms</li>
	<li>Large format 3D printing</li>
	<li>Extensive supply chain</li>
</ul>
Cnstrct is now accepting Pre-registrations. <a href="https://www.cnstrct.tech/register">Click here</a> to sign up for free.

By registering, you will help determine the ideal locations for the first Cnstrct facilities. You will also be eligible to gain access to the beta version of the software upon its launch, as well as updates, insights and opportunities to customize the platform for your geographic area.
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Cnstrct seeks to simplify the way buildings are designed and built

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Having announced that it is partnering with Victoria University to deliver its vertical city campus earlier this month, ISPT is wasting no time in getting the project off the ground, appointing Probuild as the head contractor for the project. The 24,000 sqm NLA vertical campus will be developed at 364-378 Little Lonsdale Street site and will include office and teaching space for key academic activities in addition to the integration of heritage and archaeological elements.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/vu-1-621x1000.jpg" rel="gallery-all" title="VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT"><img alt="" class="image-article-full-width-580px" height="934" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/vu-1-621x1000.jpg?itok=zn_tpR_o" title="VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT" width="580"></a>

<figcaption>VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT</figcaption></figure>The $200 million+ Daryl Jackson designed project includes the delivery of an integrated fitout by Woods Bagot, and upon completion will become Melbourne’s tallest vertical campus. Demolition works will commence in December this year, with project completion due prior to the end of 2021, in time for the 2022 academic year.

Probuild is currently applying the finishing touches to its other project for ISPT - 271 Spring Street and is also delivering some of Australia’s largest construction projects including The Towers and Ritz Carlton at Elizabeth Quay in Perth, Queens Wharf in Brisbane, Aurora Melbourne Central, West Side Place and The Greenland Centre in Sydney.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/271_spring_redden.jpg" rel="gallery-all" title="271 Spring Street is approaching completion. Image: Urban member redden"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/271_spring_redden.jpg?itok=j0cammt8" title="271 Spring Street is approaching completion. Image: Urban member redden" width="580"></a>

<figcaption>271 Spring Street is approaching completion. Image: Urban member redden</figcaption></figure><h2>What they say...</h2>

<blockquote>
Significantly, this project signals Probuild’s re-entry into the University sector. This is our first vertical education campus and we’re looking forward to adapting our industry-leading expertise in high-rises to suit education needs.

Victoria University is expanding their CBD presence in order to provide industry-best learning spaces and attract the very best students. Probuild is excited to be working alongside ISPT to deliver the next generation in University development.

- Luke Stambolis, Probuild Victorian Managing Director
</blockquote>

 

<blockquote>
 
Following the successful ISPT acquisition of three Melbourne CBD properties offered to the market by Victoria University, ISPT is pleased to collaborate with Probuild to now deliver Melbourne’s tallest vertical campus, with a long term lease back to the University.

Once complete, the tower will anchor this burgeoning knowledge precinct and add to the growing portfolio of properties delivered by ISPT as the sole developer and long-term owner. This project is a key addition to our development workbook and represents an important extension of our investment into the education sector.

- Jason Lourensz, ISPT’s Senior Development Manager  
</blockquote>

<h2>Probuild's Construction Pipeline</h2>

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Probuild appointed for $200m Victoria University Tower

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Montalto Properties is pushing ahead with its <a href="/buildings/parkside-by-the-river-2-ballarat-road-footscray">Parkside</a> residential project at 2b Ballarat Road in the burgeoning suburb of <a href="/new-apartments/footscray-vic-3011">Footscray</a>. Designed by <a href="/architects/ma-architects">MA Architects</a> the boutique development of 23 residences capitalises on never-to-be-built-out views over Flemington Racecourse and the Maribyrnong River. The five-storey development replaces an at grade car park and sits east of a series of walk up flats.

Due to the nature of its park side location - which unsurprisingly was the inspiration for the project name - the development has been designed 'in the round' according to MA Architects' Karen Alcock, who sat down with Apartments.com.au to discuss the design strategy behind Parkside. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/5150_flemington_apartments_9302-yt_1029.jpg" rel="gallery-all" title="The view from the balcony across the Maribyrnong River. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/5150_flemington_apartments_9302-yt_1029.jpg?itok=zRJL7sld" title="The view from the balcony across the Maribyrnong River. Image: Supplied" width="580"></a>

<figcaption>The view from the balcony across the Maribyrnong River. Image: Supplied</figcaption></figure>Karen describes the site as a "bloody unique opportunity" and she would know, having spent the best part of the last 20 years working on multi-residential and award winning housing projects. Karen established MA Architects after 10 years as a co-director of Neometro Architects and brings a strong design focus to projects, ensuring the practice delivers something surprising and buildings which work, particularly at the ground level.

Karen says Parkside has been designed to open up to the north aspect, while its base is landscaped to soften the car park frontages with a pergola provided to the street, with practical experience dictating the use of wisteria and vines. At the same time Karen emphasises the importance of designing buildings which are still good to look at while the vegetation takes time to flourish. Projects which rely too much on vegetation to conceal poor architecture are still poor buildings, she argues.

In terms of the spatial planning of Parkside, the two and three-bedroom apartments have been located along the north, one-bedroom apartments to the south while a series of penthouses occupy the top floor above the three floors of typical apartments. Irrespective of size however, Karen says that the practice always approaches the design of apartments in the same manner they would approach the design of a house, that is with a sense of longevity so that it feels like somewhere you could live in for a long period.

Historically MAA-designed projects have also utilised outdoor blinds to balconies which are size appropriately and practical to use, and Parkside is no different. The practice's work has also traditionally featured kitchens and bathrooms which are interesting but simple, with Karen noting that houses are "more than just kitchens" and that it's crucial to "make sure the bones are right" ie providing a robust shell that requires little maintenance.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/1-5150_flemington_apartments_9302_kitchen_1114.jpg" rel="gallery-all" title="A typical kitchen at Parkside. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/1-5150_flemington_apartments_9302_kitchen_1114.jpg?itok=eo0lox2U" title="A typical kitchen at Parkside. Image: Supplied" width="580"></a>

<figcaption>A typical kitchen at Parkside. Image: Supplied</figcaption></figure>During the early days of Neometro, they would often ask themselves the question "would you want to live here?" and this still resonates with the projects Karen and her team are working on today, and this ethos certainly informed the design of Parkside.

Parkside adds to Footscray's development pipeline, with the inner city suburb fast becoming a major metropolitan activity centre to cater for the predicted 40% growth Melbourne's west is expected to experience in the next 40 years. An interactive round up of development activity within Footscray is illustrated in Apartments.com.au's map below:

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/footscray-vic?embeddable=map" width="100%"></iframe>
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MA Architects' Karen Alcock discusses Parkside, Footscray

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This week I sit down with Simon LeNepveu of architecture and urban design practice, ClarkeHopkinsClarke to discuss the office's involvement in a research project, ‘Building Connections’, designed to support school systems and planning authorities in rethinking how schools engage with local communities and urban surrounds. 

Simon is part of an expert research panel, led by The University of Melbourne’s Dr. Ben Cleveland, for the research project which explores the idea of schools being used as community hubs and utilising them beyond the hours of 9.00am to 3.30pm. 

<iframe allow="autoplay" frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/533239065&amp;color=%23ff5500&amp;auto_play=true&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true" width="100%"></iframe>
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Weekly Podcast - Episode 40: CHC's Simon Le Nepveu

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St Kilda's landmark Esplanade Hotel or "The Espy" - as it is affectionately known - is reopening its doors following an extensive two year refurbishment undertaken by owners Sandhill Road and long time collaborators, Technē Architecture + Interior Design. The 140 year-old icon has been reborn via a design strategy which celebrates the story of the landmark venue and its rich layers of history.

First built in 1878, The Espy has experienced a number of alterations and additions over the years - namely in the 1920's and 1970's - before being acquired by Carlton and United Breweries in 1995 and then by Becton Corporation in 1997.  Becton sought to develop a 35-storey residential tower on the site, which was eventually scaled back to a more modest seven-storeys following strong community opposition. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/espy201801-010.jpg" rel="gallery-all" title="Technē's design uncovers and celebrates the Espy's layers of history. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/espy201801-010.jpg?itok=99TyVLpR" title="Technē's design uncovers and celebrates the Espy's layers of history. Image: Supplied" width="580"></a></figure>The Espy, represents Technē’s largest and most complex hospitality undertaking to date, and is 50 per cent larger than <a href="/news/garden-state-hotel-previously-known-as-rosati">Garden State Hotel</a>, which Technē also worked on with Sand Hill Road. Technē's design strategy reflects Sand Hill Road’s vision for the venue; highlighting the different eras across 12 bars, two restaurants and a variety of discrete spaces totalling 3,000 sqm which can accommodate up to 1,780 patrons.

Since day one, The Espy has been a Victorian-era seaside resort and the hotel home to notable personalities such as entrepreneur, art collector and philanthropist Alfred Felton. It’s been a jazz-era ballroom and a rock and roll mainstay from the 1990s until 2015 when it closed for renovation.

Technē's design features three different spaces capable of accommodating a range of performances from intimate jazz or stand-up comedy to rock bands drawing big crowds in the Gershwin Room - a space which Technē has left largely untouched. 
The Espy further celebrates its musical heritage with vintage rock posters on display throughout the building, sourced from the venue’s archives. The renovations have also opened up and activated the Espy's second level, expanding the public offering from two levels to four. An operable glass roof has been provided over the famous terrace entrance and highlights the grand stairway that connects the building’s different levels.

On the ground floor, the foyer’s grand arch windows provide a visual connection through to the Main Bar and to a cellar door-inspired dining area, complete with wine barrels filling the walls, and kitchen beyond. The former Espy kitchen has been re-imagined as a public bar featuring traditional curved oak detailing.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/espy201801-003.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/espy201801-003.jpg?itok=MgDHIAnj" width="580"></a></figure>Cantonese restaurant Mya Tiger is located on the first floor and draws inspiration from the famous Raffles Hotel in Singapore, providing patrons with views of Port Phillip Bay in addition to the activity on the terrace below. Felton’s spirit of art collecting and as a host of salons for the creative community informs the Technē design response on the second floor. 
Other areas include a small mezzanine-level function room and the 1950s inspired Studio Bar on the ground floor, a space that patrons can book to record podcasts, providing what Technē term “a slightly more modern character” compared to some of the venue’s other restored spaces, with diner-style booths and ’50s-style wood panelling. (As an aside, Apartments.com.au is looking at recording an episode of our <a href="/guides">podcast</a> with Technē in the space.)

A series of hand-painted, period-style murals by Perth artist Desmond Sweeney (8 Foot Walls) provide a unique design feature, with one occupying an entire eight metre wall in the the Green Room.

Technē worked closely with Sand Hill Road stylist Eleisha Gray on conceiving the interior design and decor of the reborn Espy, curating a selection of imported furniture and decorative objects in keeping with the overall narrative. A tribute to The Espy’s heyday, Technē and Sandhill Road's transformation will ensure the St Kilda landmark remains one of the oldest, largest and most prominent 19th-century hotel resorts still operating in Victoria. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/espy201801-006.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/espy201801-006.jpg?itok=FIkHqeiE" width="580"></a></figure>In addition to The Espy redevelopment, a host of other projects such as the recently completed Gatwick Hotel redevelopment as part of The Block TV series, and the <a href="/developments/st-kilda-vic-3182">Victorian Pride Centre</a> are breathing new life into <a href="/developments/st-kilda-vic-3182">St Kilda</a>. A snapshot of the the area's development pipeline is captured below.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/st-kilda-vic?embeddable=map" width="100%"></iframe>

<h2>What they say...</h2>

<blockquote>
There’s something about this Hotel that captures the imagination like no other.

These are the things we determined to keep at the forefront of our minds as we conceived the look, feel and spaces of the new Espy – age, grandeur, history, arts – and respect for what it took to keep her alive all these years.

- Matt Mullins, Sand Hill Road director 
</blockquote>

 

<blockquote>
There is no other hotel or food and beverage project in the city that is as big and complex as The Espy. Working with a building with such an interesting history has extended our entire working process.

The design is unique because it focuses entirely on historical layering. Different eras and styles call to each other across the spaces – making for an eclectic customer exploration – and this is united throughout by exposing the good bones of the original building.

In a design sense, the glass roof allows the old building to be viewed as it was before the art deco bay window extension was added to it. There's that element of Victorian grandeur that is coming back into the ground level foyer and elsewhere.

Alfred Felton’s ghost benevolently haunts the rooms on the second level. His story is more clearly explained than it has ever been and the renovation opens up spaces to the public that have not been seen since the early 20th century when they became boarding rooms.

We imagined this level as a Victorian parlour with small rooms, small bars filled with curios and little art works. There is a library and a salon – one of the spaces is called The Pharmacy because Alfred Felton made his money in part as a manufacturing chemist.

- Justin Northrop, Technē Director
</blockquote>

 

<blockquote>
People have a real connection to the Gershwin Room. We’ve refreshed the bar but wanted to make sure the whole space still feels recognisable. Our design concentrates on the building’s heritage and does not aim for a contemporary makeover.

We hope it will be hard to tell which sections are original details and which things have been recreated. This approach is new for us and also it’s also largely new in Melbourne; it’s more familiar in Europe where this architectural tradition is much older.

- Nick Travers, Technē Director 
</blockquote>

All images supplied by Technē.
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The Espy - A St Kilda landmark is reborn

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

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Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

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Laurence Dragomir

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