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Mirvac has teamed up with Swedish furniture giant Ikea and The Block stars Josh and Jenna to showcase terrace living on just $15,000.
Josh and Jenna were challenged to furnish and style the three-bedroom display home in the Garden Grove precinct of Mirvac’s master planned community Harcrest in <a target="_blank" href="/news">Wantirna South</a>.
The couple was given a budget of $15,000 and a timeframe of 48 hours to furnish the terrace using only furniture from Ikea.
Three-bedroom terrace homes in Harcrest start from $515,000.
“We’re inviting young couples and families to be inspired by our new terrace display home,” says Mirvac Victorian development director Elysa Anderson.
“To do this, we have partnered with leading furniture brand Ikea and interior design stars Josh and Jenna to bring to life the possibilities on offer for prospective purchasers - it’s inspiring to see what $15,000, two days and plenty of creativity can do,” says Anderson.
The display opened for inspection on October 13 with more than 400 people attending.
“We want people to walk through Mirvac’s new display home and see what can be achieved with a $15,000 budget at IKEA," says Bianca Speller, Ikea Melbourne marketing manager.
"This is a great partnership showcasing affordable and stylish living at its best,” says Speller.
It is not the first time <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/ikea-and-mirvac-team-to-show-how-to-furnish-a-new-home-on-a-%2415000-budget/2013050260950">Mirvac has joined forces with Ikea</a>, with the furniture giant supplying furniture for a three-bedroom property in the Elizabeth Hills estate in South West Sydney earlier this year.
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ntrotman-Et3xWpamVh

Block stars Josh and Jenna team up with Mirvac and Ikea to furnish on a budget

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Only six apartments remain in Kokoda Property’s Q2 Blackburn development, with apartments reflecting a possible yield of over 4.9%.
Located on Queen Street in Blackburn, the development features designs by Hayball and has appealed to a range of buyers from first home buyers, downsizers and local investors.
“Blackburn is a well-established suburb populated with families who’ve lived here for many years. In some cases the kids have now grown up and are eager to stay in the same location they know and love,” says Sam Tucker sales and marketing manager of Kokoda Property.
“Q2 offers an affordable entry point into this established, blue-chip location, so there’s no need for first home buyers to look outwards to Melbourne’s suburban fringe to purchase their first home.
“Similarly, downsizers who love the area but no longer need all the space of a large, sprawling family home have been buoyed by Q2’s quality interiors and great location,” says Tucker.
Out of the 44 completed apartments, only six remain, with one-bedroom apartments priced from $369,000 to $375,000 and ranging in size from 40 square metres to 44 square metres.
Remaining two-bedroom apartments are priced between $455,000 to $495,000 and range in size from 47 square metres to 59 square metres.
One-bedroom apartments have the potential to receive $350 to $380 per week in rent, representing a 4.9% to 5.2% yield and two-bedroom apartments have the potential to receive $440 to $480 in rent per week, representing a 5% yield.
“With limited apartments available we invite homebuyers to visit Q2’s on-site display apartment at 2 Queen St in Blackburn, to get a true feel for the quality we put into our projects,” says Tucker.
The median unit price in <a target="_blank" href="/news">Blackburn</a> is $510,000, a 22.3% change in the past five years, according to RP Data.
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Kokoda's Q2 Blackburn over 85% sold with remaining apartments reflecting above average yield

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Minister for Planning Matthew Guy has announced a $300 million hotel and apartment complex in Docklands, to be known as The Altus.
Guy launched the 4.5 star hotel and apartment complex yesterday, which will be situated on the corner of Harbour Esplanade and Dudley Street.
The Altus will feature 281 guest rooms and suites, 27 serviced apartments and 299 residential apartments across 37 storeys.
“Docklands is continuing to deliver state of the art buildings that are rejuvenating the area,” says Guy.
“Once completed, The Altus will be part of a vibrant and exciting precinct in which to work, live and to visit.
“The Altus adds to a growing list of top class accommodation, dining and entertainment
venues in the Docklands, which provides access to world class sporting and music events, shopping, fine dining and recreational activities,” says Guy.
Construction is scheduled to commence in early 2014 and will create over 400 construction jobs and once completed in 2016, 150 hotel jobs.
“The Victorian Coalition Government is continuing to transform the Docklands into a waterfront destination that will be home to 20,000 residents and 60,000 workers upon completion in approximately 2025.
“Investments like the new $43 million community precinct that will feature the Docklands Library and Community Centre, Dock Square and Docklands Family Services and Boating Hub are creating a vibrant and exciting suburb.
“The $15 million Dock Square will provide 2,500 square metres of landscaped open space for residents and visitors to enjoy the outdoors and maintain active lifestyles,” says Guy.
The last remaining piece of major developable land in Docklands, a 2.5-hectare site diagonally across from Southern Cross Station, has now been contracted.
It will be developed into a $1.6 billion precinct, linking central Melbourne to Docklands.
Guy says nearly all 140 hectares of Docklands’ developable land is now contracted for development, with 50% of the land developed into the newest part of Melbourne’s CBD.
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A $300 million hotel and apartment complex to grace Docklands

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Amid the latest talk of first home buyers struggling to get their foot in the market, Satterley Property Group’s latest townhome release in the Coburg Hill Estate has sparked interest, with the first three lots bought by first home buyers in their 20s.
The 10 townhomes will be built on the historic Kodak site in Coburg North, nine kilometers from the Melbourne CBD.
Featuring three bedrooms and two bathrooms, the two-storey homes range in price from $575,000 to $595,000 and range in size from 193 square metres to 214 square metres in total.
General manager of Victoria and Queensland Satterley Jack Hoffmann says initial interest in Focus @ Coburg Hill has been significant.
“We expect that these townhouses will be snapped up very quickly.
“Focus represents a unique opportunity for home buyers and investors, whether they’re families, empty nesters, or settling into their first home.
“We are one of the few estates offering new housing this close to the CBD, without sacrificing the space to relax and enjoy the benefits of suburban living,” says Hoffmann.
Seven townhomes have sold since the developments launched on September 29, with one more pending on deposit.
The two remaining townhomes are priced at $585,000.
Construction is scheduled to commence at the end of this year, with residents to move in by November 2014.
The median unit price in <a target="_blank" href="/news">Coburg North</a> is $460,000, a 35.4% change in the past five years, according to RP Data.
 
<hr>
 Images are artistic impressions.
 
 
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Coburg Hill's townhome release sparks interest with first home buyers

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The spring selling season is in full swing this week with 2,816 auctions scheduled across the capital cities, according to RP Data.
The national clearance rate was slightly down from the previous week of 72.5% to 71.6% last week.
Auction volumes increased last week to 2,342, up from 2,229 the previous week.
At the same time last year auction volumes were substantially lower at 1,559, as was the national clearance rate at 51.4%.
Melbourne auction volumes are remaining strong with 1,124 auctions held last week, up from 1,008 the previous week but Melbourne’s preliminary clearance rate dropped from 74% the previous week to 69.9% last week.
Melbourne is forecast to have an even stronger week this week, with 1,563 auctions scheduled.
Meanwhile Sydney’s clearance rate increased last week to 81.1%, up from 79.1% the previous week.
Sydney auction volumes also increased slightly from 884 the previous week to 895 last week.
At the same time last year Sydney’s clearance rate was much lower at 53.6% as were auction volumes at 551.
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Spring auction front blooming compared to last year: RP Data

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A three-storey architecturally designed property positioned above the Bondi to Bronte coastal walk is this week’s most expensive sale, selling after auction for $15 million, according to RP Data.
Property Observer first reported on the <a target="_blank" href="https://www.propertyobserver.com.au/news/sydney-school-architecture-bondi-beach-gem-to-fetch-over-%2410-million/2013082164448">Wilga Street property</a> in August, when listing agent Blaise Griffin of Raine and Horne Double Bay said the property had received genuine interest over $10 million.
The three-bedroom home includes prominent features of the Sydney School of Architecture style and was custom built in 1963.
It is the first time the property has been listed in 58 years.
The property was passed in at its October 19 auction at $14 million, and sold half an hour later for $15 million after negotiations with the highest bidder.
The property includes a main residence, as well as a three-bedroom, two-bathroom self-contained residence on the 707-square-metre lot.
Griffin told Property Observer that the land has median density zoning on it but it sold to an owner-occupier.
The property was sold through Ric Serrao and Blaise Griffin of Raine and Horne Double Bay.
Most expensive sales
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/23_wilga_street_bondi_nsw_2026/1519639">23 Wilga Street, Bondi Beach, NSW, 2026,</a> six-bedroom house, sold after auction on October 19 by Raine &amp; Horne Double Bay for $15 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_hawkstone_street_cottesloe_wa_6011/11945253">2 Hawkstone Street, Cottesloe, WA, 6011</a>, four-bedroom house, sold at auction on October 19 by Mack Hall Real Estate Claremont for $7.25 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/109b_louisa_road_birchgrove_nsw_2041/1445387">109b Louisa Road, Birchgrove, NSW, 2041,</a> four-bedroom house, sold on October 18 by McGrath Estate Agents for $5.85 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/69_pavilion_street_queenscliff_nsw_2096/5708914">69 Pavilion Street, Queenscliff, NSW, 2096,</a> four-bedroom house, sold on October 18 by First National Manly for $3.8 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/16_dawson_avenue_brighton_vic_3186/10009187">16 Dawson Avenue, Brighton, VIC, 3186,</a> four-bedroom house, sold at auction on October 17 by Marshall White &amp; Co for $3.605 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_pine_street_cammeray_nsw_2062/1694691">21 Pine Street, Cammeray, NSW, 2062,</a> five-bedroom house, sold on October 18 by Belle Property Neutral Bay for $3.6 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/8_catalina_crescent_avalon_beach_nsw_2107/1193956">8 Catalina Crescent, Avalon Beach, NSW, 2107,</a> six-bedroom house, sold at auction on October 17 by L J Hooker Avalon Beach for $3.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/29_le_vesinet_drive_hunters_hill_nsw_2110/3006376">29 Le Vesinet Drive, Hunters Hill, NSW, 2110,</a> three-bedroom house, sold prior to auction on October 19 by John Ward Prestige Realty for $3.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/33_barker_road_strathfield_nsw_2135/6479611">33 Barker Road, Strathfield, NSW, 2135,</a> seven-bedroom house, sold prior to auction on October 19 by Strathfield Partners for $3.185 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/86_gordon_street_paddington_nsw_2021/5267271">86 Gordon Street, Paddington, NSW, 2021,</a> five-bedroom house, sold at auction on October 19 by McGrath Estate Agents for $3 million
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Owner-occupier pays $15 million for this week's most expensive sale in Bondi Beach: RP Data

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Property advice is currently not regulated and anyone can give property advice, regardless of their experience and qualifications. There have been calls to introduce a national regulatory framework for some time; with some saying it is in far closer reach under the current government.
Property Observer has asked groups and experts active in the space to share their thoughts on the matter exclusively with us.
They were each asked:
Should the property industry be regulated? If so, how should we go about it? If not, why not?
Here, we share their responses to this question.
We also invite other spokespeople, and readers, to have their say.
Frank Valentic – Managing director of <a href="https://www.advantageproperty.com.au/?" target="_blank">Advantage Property Consulting</a><img style="float: right;" src="/images/stories/2013/10/22/FrankValentic-profile.png" alt="FrankValentic-profile" height="200" width="150">
 
YES CONSUMERS NEED TO BE PROTECTED FROM UNSCRUPULOUS OPERATORS
Yes I believe the property industry should be regulated because consumers need to be protected from unscrupulous operators. In Victoria, the Estate Agent’s Act states that anyone who buys, sells or leases real estate and receives a fee should be a licensed estate agent or operate for a licensed agent.
There are many examples in the property industry where property marketers or other professionals receive fees/commissions/kickbacks and don’t act in a client’s best interests and are in breach of the Estate Agent’s Act as they are not licensed estate agents. 
The property industry should go about regulating the industry by simply making anyone who receives any fees (directly or indirectly) required to have a written authority signed by the client with all fees disclosed.  These professional should operate as a licensed estate agent or agent’s representative.
This would hopefully clean up our industry and ensure that only real estate professionals with the appropriate qualifications can give consumers advice to protect consumers, just as real estate professional should not give advice in any other areas including financial, legal or building law etc.
Ben Kingsley – Chair of <a target="_blank" href="https://www.pipa.asn.au/?">Property Investment Professionals of Australia</a> (PIPA) <img style="float: right;" alt="ben-kingsley-porfile" src="/images/stories/2013/10/22/ben-kingsley-porfile.png" height="200" width="150">
YES, URGENTLY
 
Property is a very high value transaction. In most households it’s the biggest single investment outside of the family home. And so it simply doesn’t make sense that just anybody can offer property investment advice.
An unregulated industry, with such high value assets, offers unscrupulous operators the ability to make significant financial gains and tempts many to put their self-interest ahead of their clients’ best interests.
For example, some property developers and builders offer upwards of 10% of the value of a property as a commission incentive for referrals from financial planners, accountants and mortgage brokers etc. So if you have a $500,000 property, we’re looking at a $50,000 commission payment.
As the chair of PIPA, it’s not my position to judge if this fee is excessive or not, but in many cases, because we don’t have regulation, these types of commissions are not disclosed to the consumer. This begs the question – why?
Our insight suggests that if the majority of consumers did know about these significant commissions, they might not sign up for them, believing they don’t reflect the fair value for the advice and work performed by these people.
As a result of the lacking regulation and as part of our steps to help increase the professionalism of this industry, PIPA has developed a full disclosure policy, whereby all members pledge to disclose all fees, commissions, kickbacks, and override payments to any consumer they are dealing with.
We need to see national regulation of property investment and it needs to come under the ASIC umbrella, to co-exist with financial products and credit lending products, but be a separate act requiring formal qualification of practitioners working in this specific field.
Under this legislation, anyone charging fees for advice or receiving commissions for the purchase of real estate for ‘investment purposes’ would need to be licensed and regulated. A purpose test would determine what constitutes ‘investment purpose’, such as whether the real estate is purchased for income and capital growth returns.
 
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Peter Bushy – President of <a target="_blank" href="https://www.reia.com.au">Real Estate Institute of Australia </a>(REIA) <img style="float: right;" alt="bushby-profile" src="/images/stories/2013/10/22/bushby-profile.png" height="200" width="150">
GUIDELINES NEED TO BE DEVELOPED FOR PROPERTY PROFESSIONALS DEALING WITH SMSFs
REIA has spoken to ASIC and the SMSF Professionals Association of Australia about concerns that unlicensed "spruikers" have been offering advice regarding property and SMSFs.
REIA agrees that property professionals should not be licensed as financial advisers but that it would be beneficial to educate agents on what they can and can't do in terms of dealing with SMSF investments.
REIA would welcome working with ASIC in developing guidelines for real estate agents for the provision of advice on investment property relating to SMSFs.
Jacque Parker – President of <a href="https://rebaa.com.au/?" target="_blank">Real Estate Buyers Agents Association of Australia</a> (REBAA)<img style="float: right;" src="/images/stories/2013/10/22/jacque-parker-porfile-3.png" alt="jacque-parker-porfile-3" height="200" width="150">
NATIONAL LICENSING HAS THE CAPACITY TO ‘DUMB DOWN’ THE INDUSTRY
As Australia’s leading property industry body representing the professional standards of buyer’s agents, we support regulation around any advice provided to consumers where the purpose of a purchase is for investment.
Accredited buyer’s agents work differently to your typical “property advisor” in that the services we provide are strictly in relation to the direct purchase of real property. We are also regulated to the point where we have to meet minimum standards which include a full real estate licence, ongoing regular Continuing Professional Development (in states where applicable) and hold mandatory Professional Indemnity insurance for the safety and benefit of consumers. The provision of advice to consumers also needs to be accompanied by the Financial and Investment Advice clause that is currently in all standard Buyer’s Agents agreements which states:
“The Principal acknowledges that any financial or investment advice provided by the Agent to the Principal is of a general nature only whose preparation does not take into account the individual circumstances, objectives, financial situation or needs of the Principal. The Principal is advised to consult with their own independent or financial and/or investment advisor.”
This information (referred to as material fact under the Property Stock and Business Agents Act) includes the client's budget, financial capacity (in the form of finance pre-approval) and the details of their brief for a particular search. Reputable buyer’s agents already make this very clear to potential clients. Many have disclaimers clearly communicated on their agency websites which encourage buyers to consider taking advice from the holder of an Australian Financial Services Licence before making a decision on a financial product.
National licensing has the capacity to ‘dumb down’ the industry as recommendations include removing CPD for agents and possible removal of licensing requirements for commercial agents and we don't agree with this at all.  REBAA is all for high levels of education and this includes full licences for buyer’s agents as well.
 


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Rosemary Johnston - Acting president of  <a href="https://www.piaa.asn.au/" target="_blank">Property Investment Association of Australia</a> (PIAA)
<img src="/images/stories/2013/10/23/rosemary-profiel.jpg" width="150" height="200" alt="rosemary-profiel" style="float: right;">
YES, INVESTORS ARE SEEKING TO CREATE WEALTH FOR THEIR FUTURE (RETIREMENT) AND THE FUTURE OF THEIR FAMILIES
This is not something they have excess funds to consider repeating too many times in their lives.  It is important they have a trusted property investment advice sector to support them with a sound foundation for informed decision making that considers the following:
1.  The potential performance of the investment including during its acquisition, holding and exit phases.
Real estate agents are legally able to employ puffery and make exaggerated claims.  This is not appropriate here for a considered investment decision .
The current system is rife with Vendor's Agents taking commission from the developer and giving investment advice to the client in the same transaction.  This is illegal in most states and ethically very questionable.
Referral partners entering into shared commission arrangements with Vendors Agents also need to consider their position.   Is the property investment advice being given covered by PI insurance, it isn't in agents PI insurance, or are they likely to be dragged into the mire?
2.  The client's risk profile and appetite for investment.
How stable is their family life, their career and their income?  How much risk are they wiling to take and how can planning manage or mitigate those risks for the client over the life of the investment?  This is a complex area that requires considerable education and experience to deliver.
3.  Their time frame of the investment that leads to considerations of inheritance or estate planning, and taxation to support the equity being created by a performing asset being effectively delivered to the client.
Currently financial planners deal with SMSF and estate planning and most have limited interest or experience in property, real estate agents deal in home sales, and property investors are being left at the mercy of the spruikers and the educators with one strategy fits all.  We need a dedicated property investment advice sector with professional educational standards, coverage by PI insurance for the advice and membership of a Professional Association with the capacity to discipline members who have complaints registered against them.  This will support the investors having a very real and consistent opportunity to achieve their goals.
Property Observer asked ASIC to comment on the matter but they declined.
 
<img alt="poll-results-oct-23" height="115" width="470" src="/images/stories/2013/10/23/poll-results-oct-23.gif"> 
Whose opinion would you like to have added to the list?
 
Email <a href="mailto:jduke@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a> and we’ll consider getting their viewpoint.
 
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Should property advice be regulated? 

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Two Western Australian developments - Alkimos Beach and Waterbank - will be the first in the state to go under the microscope to be rated on their sustainability, productivity and livability by a national scheme.
Both developments have been accepted for Green Building Council of Australia’s green star and will be judged on sustainable planning criteria such as minimizing energy and water consumption and reducing dependence on motor vehicles.
The criteria will also include broader issues including economic prosperity, livability and community health and wellbeing.
“Green Star certification is more than just a pat on the back for developers,” says lands minister Brendon Grylls.
“It demonstrates the state government’s commitment to best practice in designing and delivering the communities of the future.”
Waterbank in East Perth is aiming for a five-star Green Star ‘Australian Excellence’ rating and Alkimos Beach in the northern suburbs if set to achieve a six-star rating.
Waterbank is a $1 billion urban regeneration project, which will provide more than 600 residential apartments for 1,500 residents and up to 24,000 square metres of commercial space.
Alkimos Beach is a master-planned community that will be home to 15,000 residents.
The first stage will deliver more than 2,000 homes and will take seven years to complete.
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Green Star certification a sustainability first for WA developments

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Angelo Property Group’s MIYA Fitzroy development is 90% sold following an eight-week word of mouth sales campaign.
Of the 60 apartments and townhouses on Kerr Street, only six remain for purchase off-the-plan – four apartments and two townhouses.
Architecturally designed by Kennedy Nolan, the development lobby will feature sleek stone terrazzo tile floors and wide limed timber wall panels.
The heritage fronting on Rose Street will also be restored.
MIYA will also feature Japanese inspired gardens by landscape designer Jack Merlo, which will be filled to bamobbo, gingkoes, camellias and jasmine
“Fitzroy is the only city fringe area that doesn’t currently have an oversupply of apartments,” said Ange Angelo, director of Angelo Property Group.
“Buyers are drawn to the area for its lifestyle, but the high level of demand and rental return also makes Fitzroy extremely appealing for investors.
“MIYA will offer our residents the best of both worlds, a slice of Eden and easy access to one of Melbourne’s most vibrant streets.
The gardens and open spaces in MIYA give people a living experience unlike any other project we’ve seen in Fitzroy,” says Angelo.
Angelo says Angelo Property Group consulted with the community and were careful to include their feedback in the design, as well as take the heritage of the area into consideration.
Three one-bedroom apartments remain, priced from $450,000 and start from 65 square metres and one two-bedroom apartment remains priced from $600,000.
Two townhouses remain priced from $900,000.
Construction is due to start in December, six months ahead of schedule due to the strong buyer demand.
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Strong buyer demand brings forward Fitzroy's MIYA development by six months

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When the 2,827 square metre site on St Kilda Road went to market, Caydon principal Joe Russo knew he had to have it and splashed nearly $21 million to purchase it.
“The synergy of location, the opportunity to build St Kilda’s tallest residential building that overlooks the beach and city in a south after location… it has it all when it comes to property investment,” says Russo.
The $200 million project - known as S.T.K – will include 309 apartments and 19 townhouses.
Russo says every aspect of the site is a draw card.
“I chose the site because of its location – close to the beach and the city – a place where people want to live.
“S.T.K offers an unrepeatable opportunity to live in this location with over 70% of apartments having incredible water and city views,” says Russo.
The purchasing of the site wasn’t how everyone would imagine, with Russo and the vendor throwing around different numbers.
Russo’s daughter sat it on the meeting, and when a decision couldn’t be made, after listening quietly she said, “why don’t you meet in the middle?” – which was a simple enough suggestion for a young girl, and a fair one too.
The 26-level building, made up of two structures within one façade, will house one- and two-bedroom apartments, as well as two-bedroom dual level rooftop terraces.
The S.T.K display suite at Caydon’s head office in Abbotsford allowed potential purchasers to see the actual view they would see from their chosen level.
The team at Caydon took photos from every floor in order to provide a true picture of what residents could buy.
<blockquote class="twitter-tweet">
At the <a target="_blank" href="https://twitter.com/Caydon">@Caydon</a> display suite for S.T.K, feel like I'm in my own apartment <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a> <a target="_blank" href="https://twitter.com/propertyobs">@propertyobs</a> <a target="_blank" href="https://t.co/ZeZf5kGqEv">pic.twitter.com/ZeZf5kGqEv</a>
— Nicola Trotman (@NicolaKTrotman) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/NicolaKTrotman/statuses/386020146784923648">October 4, 2013</a>
</blockquote>
Caydon purchased the site with the existing planning permit and kept the same envelope, but reconfigured the apartments to optimize views.
Caydon wanted to take a futuristic approach to buying off the plan, offering potential buyers a 3D life-like vision of their future property.
“We pushed technological boundaries, incorporating leaders in their fields from all over the world – even bringing hardware from Silicon Valley not yet released to the general public,” says John Paige marketing manager.
“The result is as close to a life-like experience as you can get without actually building the apartment.
“We did this for one simple reason, to help solve the age long question our clients ask when buying off the plan – how will it actually feel to be in my apartment?” says Paige.
Using the latest in 3D technology, many images are overlapped to create 3D vision.
Paige says the glasses themselves have only been sent out to key software developers around the world to trial.
<blockquote class="twitter-tweet">
3D goggles, now I'm really inside my own S.T.K apartment. A must for display suites, pretty cool <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a> <a target="_blank" href="https://t.co/PqbXvXUxO5">pic.twitter.com/PqbXvXUxO5</a>
— Nicola Trotman (@NicolaKTrotman) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/NicolaKTrotman/statuses/386021119750180864">October 4, 2013</a>
</blockquote>
More than 130 apartments have been sold to investors and owner-occupiers.
“There has been an interesting mix of buyers with a number of investors buying now to live in later, and also buying apartments for their children,” says Russo.
Russo says there have also been repeat buyers who have bought in other Caydon developments such as Trilogi and Atria.
One-bedroom apartments range in size from 50 square metres to 61 square metres and range in price from $380,000 to $527,000.
Two-bedroom apartments range in size from 64 square metres to 87 square metres and range in price from $560,000 to $842,000.
Townhouses on Barkly Street range in size from 68 square metres to 71 square metres and rooftop terrace townhouses range in size from 82 square metres to 100 square metres.
Townhouses range in price from $645,000 to $820,000.
Designed by Eades and Bergman, apartments will feature textured splashbacks, marble finishes, satin chrome fixtures and timber flooring.
Residents will have access to the S.T.K club, comprising of a 20-metre infinity edge pool, gym, steam room, yoga room, business lounge and a library.
“With any Caydon development I am in this for the long term,” says Russo.
“S.T.K will be an icon of what St Kilda is all about - I see it as redefining people’s expectations of what urban living is all about.
“Market cycles don’t both me; a standout location such as S.T.K coupled with the Caydon brand of exceptional quality in residential living ensures the success of S.T.K,” says Russo.
Construction is scheduled to commence early next year with an expected completion date of late 2015.
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Caydon's S.T.K development impresses with a life-like experience

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

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MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

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The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

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Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nicola Trotman

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