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A Sydney property first listed above $1 million in August 2015 has popped back on the market with an overall reduction of $325,000, according to SQM Research.
SQM Research's top 10 most discounted properties list noted a new entrant to the list, <a href="https://www.realestate.com.au/property-house-nsw-georges+hall-120488325" target="_blank">14 Endeavour Road, Georges Hall</a>, was first listed in August 2015 accepting offers million and is now back on the market for $875,000.
Six of the ten entries are priced under $430,000.
SQM Research managing director Louis Christopher said the two bedroom home is set on a large 1195 sqm block with the opportunity to knock down, rent, renovate, and or live in and the property appears to be in a good living condition thanks to the current owners recent renovations.
"These renovations include new timber floors and modifications to both the kitchen and main bathroom," he said.
"The listing states that the property features a storage shed and garage, in addition to a large teenage retreat/office area in the rear of the block.
The vendor states that the property is located in a 'prime' location. The property is located approximately 27 km outside of Sydney CBD, and only a short walk away from local Schools, parks, shops and transport." 
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mick.cee-iDmgDDAmu8

First home buyer cheapies on the SQM top 10 most discounted list

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Government Property NSW has listed 10 more Millers Point properties for sale through auction on behalf of the Department of Family and Community Services through McGrath Estate Agents.
Money from the sales will eventually be reinvested into some 1,500 social housing projects across NSW.
The below properties will go to auction 25 February. 
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752550" target="_blank">20 &amp; 22 Kent Street</a>: Neighbouring two and three bedroom residences, part of a group of three two storey terraces constructed on the site of a former quarry cutting in the 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752670" target="_blank">28 Kent Street</a>: A four bedroom two storey terrace built in the 1870s that was previously a barber shop and restaurant.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121753094" target="_blank">46 Kent Street</a>: Known as ‘Chelsea House’ – this property is a five bedroom, two storey terrace built for local auctioneer William Higstrim in the early 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752510" target="_blank">38 Argyle Place</a>: A four bedroom residence, part of the ‘Wentworth Terrace’ row built by the prominent Merriman family in 1887-1888.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752734" target="_blank">40 Argyle Place</a>: A three bedroom terrace that was occupied in the late 1880s by champion rower Charles A. Bros.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752390" target="_blank">60 Argyle Place</a>: A wide, grand three bedroom terrace in the Grimes’ Buildings row.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752358" target="_blank">51 Lower Fort Street</a>: Known as ‘Wendovir’, this four bedroom, three storey property is part of Palermo Terrace, constructed in the mid-1880s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752378" target="_blank">63 Lower Fort Street</a>: A three bedroom residence in Vermont Terrace and an example of early Federation Queen Anne architecture.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752422" target="_blank">71 Lower Fort Street</a> (above): This three bedroom two storey residence, part of Eagleton Terrace, was built in 1876 by local shipwright, Robert Drysdale.
 
Government Property NSW  announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Government’s Millers Point terrace sales program late January.
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10 heritage Millers Point properties on the market through Government Property NSW

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Residential vacancies nationwide rose during December with a final vacancy rate of 2.7% recorded, according to SQM Research, who put the increase down to seasonal trends.
SQM research recorded 81,401 rental vacancies in December, according to managing director Louis Christopher, who said the demand for rentals is still on the rise.
"The national rise is attributed to a combination of factors, including issues with supply and demand, the ongoing impact of the commodities downturn, and seasonal holiday trends," he said.
"December for example, normally does record a sharp rise in vacancies.
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"Notably, Darwin has recorded a fall in asking rents of 12.3% for houses and 11.2% for units over the past 12 months, according to SQM Research. Yearly falls have also been recorded in Perth, with asking rents down 9.6% for houses and 9.7% for units."
Mr Christopher said Hobart has recorded the fastest rental rises for the capital cities with asking rents rising 6.9% for houses, while units underperformed, falling by 1.6%. Hobart also has the most affordable rental accommodation with rents for houses at just $340 a week, while units on average rent for $270 a week.
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December capital city house asking rents rise 6.9% in Hobart: SQM Research

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GUEST OBSERVER
Australia’s population rose by 0.3% over QII and annual growth held steady at 1.4%.   Australia’s population is estimated to be 23.8 million as at June 2015.   Net migration continues to be the driver of population growth, although its contribution to growth has eased.
The big picture
Australia’s population growth rate has been easing as a result of a slowdown in net overseas migration. The decline in the population growth rate has been a contributing factor to why potential growth in Australia is now estimated to be around 2¾% (potential growth was previously assumed to be around 3¼%).  Weak productivity growth and the ageing of the population have also weighed on potential growth.
Australia’s population growth rate was over 2% in 2009.        Notwithstanding, at 1.4%pa, Australia’s population growth rate is still a lot faster than most other OECD countries. This means that the economy needs to be expanding at a faster pace than most other OECD countries to achieve full employment.   
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" alt=""> The major driver behind Australia’s population growth continues to be net overseas migration (NOM).  However, its contribution to population growth has come down over the past few years.  Both sides of federal politics favour high levels of immigration to partially offset some of the effects from the ageing of the population.
The ‘grey army’ – those aged 65 and over – continue to grow as a share of Australia’s population. The growth of this age cohort underpins the structural decline in labour force participation. That said, there has recently been a cyclical bounce in the participation rate due to a lift in the demand for labour. The aging of the population has increased the dependency ratio (the age‑population ratio of those typically not in the labour force) which underpins the need for fiscal reform.
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<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.13.20%20PM.png" alt=""> The detail
Australia’s population is estimated to have risen by 73k in QII (+0.3%). The lift takes the population to 23.8 million as at June 2015. The ABS estimates that NOM was 168k in 2014/15, down from 189k in 2013/14.  And well down from the peak of 315k in 2008.
State outcomes are mixed, but population growth rates have been converging. The decline in mining investment and associated downturn in mining‑related employment has contributed to a sharp slowdown in WA’s population growth. Victoria’s population growth rate is the highest across the States. Strong population growth in the Garden State underpins the big lift in residential construction in Melbourne.
Table 1 - Population Growth Q2 2015
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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Australia's population growth rate continues to ease: CBA's Gareth Aird

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National capital city auction volumes have slowed from 2,989 last week to 1,727 this week, according to CoreLogic RP Data, who state this is a similar number to this time last year.
Some 872 auctions are scheduled for Melbourne this week, down from 1,572 last week. 457 auctions are slated for Sydney, compared to 891 last week. 
CoreLogic RP Data state 2015 was the busiest year for auctions on record, with total auction volumes expected to clear 108,500.
To put this into perspective, there were 104,444 capital city auctions held in 2014, 81,473 in 2013 and just 62,713 in 2012.
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2015 the busiest year for auctions on record: CoreLogic RP Data

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Savills has opened its first office in Canada following the purchase of Toronto-based commercial real estate firm Real Facilities.
Stan Krawitz, founder and president of Real Facilities, will oversee the operation for Savills Studley as executive vice president, founder and head of Canada.  
He said Savills Studley and Real Facilities have collaborated on numerous large transactions for clients on both sides of the border for more than five years. 
"In many ways, this is just the formalization of the great partnership we’ve enjoyed. Joining Savills Studley provides us with a true global platform for our clients.  Many Canadian companies are expanding to the U.S, as well as seeking locations in Europe and Asia," he said.
"The transition has been seamless.”
Savills operates from over 600 owned and associate offices, employing more than 30,000 people in over 60 countries.
 
 
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Savills open first Canadian office with eye on Asia

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Sydney's CBD office market saw positive growth during 2015 with the third quarter showing a positive net absorption of 25,600 sqm, the seventh consecutive quarter  of positive net absorption in the CBD office market, according to Herron Todd White.
Herron Todd White's December December Month in Review said the strong tenant activity across the Sydney CBD has seen vacancy further tighten, with the Sydney CBD being the only national CBD office market with a total vacancy below 10%.
"Prime and secondary gross effective rents increased over the year, with a recorded increase of 2.7% at the end of the third quarter," it noted.
"From a supply perspective, a key development underway in Sydney is Barangaroo. The first practical completion, Barangaroo South, was recorded in quarter three. The International Towers Sydney (T2) is being completed in stages, with the low and mid- rise components completed, offering 59,385 square  metres of lettable area.
"Nine other commercial office projects are currently under construction across the Sydney CBD, including 200 George Street and 333 George Street. While a number of these projects comprise tenant pre-commitments, it is expected that the shifting tenant profile down to Barangaroo will result in increased available office space in the vacated buildings."
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Third quarter positive growth in Sydney's CBD office market: HTW

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Economic growth predicted in the Westpac-Melbourne Institute Leading Index is stuck below trend, with growth in the Australian economy in the first half of 2016 under expectations.
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The Index, which predicts the likely pace of economic activity three to nine months into the future, decreased from –0.13% in October to –0.21% in November. 
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Westpac chief economist Bill Evans said components of the Index which have contributed to the slowdown are: ASX 200 (–0.38 percentage points); dwelling approvals (–0.13 ppt’s); yield spread (–0.37 ppt’s); and aggregate monthly hours worked (–0.17 ppt’s). 
"This result is a little disappointing. In the two previous months we had seen some modest improvement in the growth rate raising hopes that growth in the Leading Index might exceed trend by year’s end," he said.
"Unfortunately, the set-back in this result leads us to the more general conclusion that growth in the Leading Index remains stuck below trend. The growth rate has now been below trend for the last five months.  
"Recall that both Treasury and the Reserve Bank are now assessing trend (or potential) growth at 2.75%. Westpac’s current forecast for 2016 entails an annual growth pace in the first half of 2016 of 2.75% (trend). The signal from the Leading Index indicates that our forecast may be somewhat optimistic. "
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Leading Index growth rate slows: Westpac

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Brisbane's LGA median house price over the September quarter rose to $615,000, according to the REIQ Queensland Market Monitor report.
The median house price set in the June quarter was $610,000.
REIQ CEO Antonia Mercorella said the Brisbane market, and  the southeast corner of Queensland was leading the state’s recovery. 
“It’s been difficult for areas of the state that were heavily reliant on mining to find their feet, but we’re starting to see indicators that suggest we are heading towards firmer ground,” she said. 
“Confidence in the residential house market is growing with sales activity up over the quarter across almost all southeast Queensland regions."
House listings in SE Queensland were up, with house sales in Ipswich posting a 12% increase. The annual trend is up 3.6%
Toowoomba and Cairns recorded the shortest average days on market over the year to August. Toowoomba house sales increased 13% over the quarter and held the state's lowest average vendor discounting rate of 5.3%. 
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$615,000 median house price for Brisbane LGA: REIQ

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Capital city price growth will slow in the new year to between 2 and 5%, with price growth from Sydney and Melbourne unlikely to meet that of 2015, according to new data released from Domain.com.au.
The Domain State of the Market report states while house prices are expected to increase in 2016 across all capital cities, they will do so at more subdued rates.
Domain.com.au senior economist Dr Andrew Wilson said buyers and sellers will see a significant change to the dynamic of Australia’s capital city housing markets in 2016.
“Australian housing markets have generally experienced a rollercoaster ride of buyer activity and prices growth through 2015, in the face of dramatic changes to interest rates, he said.
"Depending on local supply and demand, we are likely to see house price growth of between two and five per cent over the next 12 months. The extraordinary prices growth reported by Sydney and to a lesser degree Melbourne over the past year will not be matched over 2016, with those markets rapidly returning to the pack. 
"While the housing market is likely to be relatively subdued comparatively, it is likely that activity from some buyer types – particularly investors – will remain robust and increase. Despite higher interest rates, investors will be drawn to the relatively high yields available and continued taxation advantages – particularly for small-scale investors."
National house price growth expectations for 2016 The following table outlines the expected house price growth for each capital city: 
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2016 mid-range house price growth forecasts
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Sydney
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4%
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Melbourne
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5%
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Brisbane
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4%
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Adelaide
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4%
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Perth
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2%
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Hobart
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4%
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Darwin
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3%
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Canberra
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4%
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Melbourne to lead, as housing market growth tipped to slow in 2016: Domain.com.au 

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"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," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"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."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"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=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Michael Crawford

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