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The first release of Harbourside in the Martha Cove development has achieved around 70% in sales after launching four months ago.
The Three Pillars development features 80 terrace homes, with a range of three-bedroom single and double storey townhouses and four- and five-bedroom luxury homes.
Terrace homes start from $429,950 for a three-bedroom home, 50 metres from the waters edge.
“Buyers simply put down a 10% deposit and don't have to pay another cent until their home is completed,” says Tom Hoogenbosch managing director of Three Pillars.
“We saw the opportunity to reinvigorate the area and, with the recent opening of Peninsula Link, this is a perfect time to do it.
“The market is on the way up and we’re offering a rare opportunity to combine lifestyle and everyday living as a realistic option.
“Martha Cove offers great designs, great value and great investment,” says Hoogenbosch.
Construction on the development began in late July.
The second release of Harbourside is scheduled to launch in early 2014.
The $650 million <a target="_blank" href="https://www.propertyobserver.com.au/victoria/alliance-forms-for-mornington-peninsula-s-%24650m-martha-cove-development/2013100265429">Martha Cove development</a> is a joint venture between Three Pillars, KordaMentha and PPB Advisory.
Set on Safety Beach, the 94-hectare residential marina development offers house and land packages and will consist of around 1,100 residential dwellings upon completion.
Martha Cove will also include 750 marina berths, a commercial precinct and aged care facility.
Broken into three precincts, PPB Advisory will develop Sovereign Point, KordaMentha will look after Hidden Harbour and Three Pillars will develop Harbourside.
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Martha Cove's Harbourside precinct achieves 70% in sales

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The Westpac-Melbourne Institute of Consumer Sentiment fell by 2.1% in October but remains 9.2% higher than it was a year ago at 108.3.
The analysis suggests low interest rates, a strong Australian dollar and some lingering positivity from the September election outcome are keeping confidence buoyant.
Although confidence is at an elevated level, concerns remain around household finances.
The analysis says rising property prices are a double-edge sword, depending on what side of the fence you’re sitting on, a buyer or a seller.
Rising property prices reduces affordability for prospective home buyers and therefore dampens sentiment with the largest decrease in sentiment observed in the income group between $60,000 and $80,000.
Economic conditions over the next five years was the greatest component to decrease in October, falling by 7.3%, followed by family finances in the next 12 months index at -5.5% and economic conditions over the next 12 months index fell -2%.
The Westpac?Melbourne Institute Unemployment Expectations Index rose by a small 0.6% in October following a fall of 6.6% in September.
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Consumer sentiment drops 2.1% in October but remains elevated: Westpac

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The housing market sentiment strengthened notably in the September quarter, underpinned by an acceleration in house price growth in all states except Western Australia, according to a survey by NAB.
National house prices rose 1.3% this quarter, up from 0.1% in the second quarter.
New South Wales experienced the greatest increase of 1.9% and Victoria followed at 1.5%.
<img src="/images/stories/2013/10/11/nab-oct-11-small.png" width="470" height="280" alt="nab-oct-11-small">
The survey reveals that national house prices are tipped to rise 3.3% in the next year and 4.5% in the next two years but NAB expects rising unemployment to dampen house price growth and sees capital city house prices rising 3.5% in the next year and only 3% in the next two years.
According to the survey, demand has improved for all types of new and established property but tight credit and employment security are the key obstacles to buying property.
First home buyers have retreated from the market and demand from Australian investors are slightly lower at, except for New South Wales at, where foreign investment activity also rose but slowed in Victoria over the quarter.
<img src="/images/stories/2013/10/11/nab-oct-11-two--small.png" width="470" height="280" alt="nab-oct-11-two--small">
A combination of slow rental growth and faster capital appreciation suggests that rental yields are eroding with rents increasing 0.2% over the quarter, compared to 0.1% in the previous quarter.
New South Wales increased 0.9% over the quarter, Queensland increased 0.7% and Victoria increase 0.3%.
Western Australia rents fell 1% and South Australia and the Northern Territory fell 3% over the quarter.
According to the survey, the fall in Western Australia rents can be attributed to the employment impact of the mining slowdown, which reduced demand for accommodation.
New South Wales and Queensland lead the way for income growth in the next year, with both New South Wales and Queensland forecast to grow 2.5%, Victoria to grow 2% and Western Australia to show the weakest returns of 1%.
Click to enlarge
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National rents are forecast to grow 3.1% in the next two years, compared to 2.6% previously, with returns highest in Queensland at 3.9% and New South Wales at 3.5%.
The survey reveals a jump in owner occupier activity in the new property market in the September quarter, with their share of new property demand rising above 41%, compared to 36% in the previous quarter.
Owner occupiers were identified as most active in Victoria at 48% and Western Australia at 47%.
First home buyers retreated this quarter from 21% to 19%, with Queensland reporting the least activity of just 9% compared to 26% in Western Australia.
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Rising unemployment to dampen house price growth: NAB

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A merge between the City of Fremantle and East Fremantle was at the core of the local government reform submission sent to the Local Government Advisory Board last week.
The result of a community survey revealed the support for the two areas to merge and create a new local government authority but strongly rejected a complete merge with the City of Melville.
“We’ve always maintained there are benefits that a carefully considered reform process could provide, and when the state government released its key planning document, Directions 2031 and Beyond' in 2009, the council resolved shortly thereafter to support a local government structure based on the major activity centres defined in that document,” says City of Fremantle chief executive officer Graeme Mackenzie.
“One of the key principles adopted by council was that no local government should have more than one major activity centre within its boundaries, as the competition for allocation of resources to each centre would be compromised - a council would struggle with a multiple focus and the centres could underperform,” says Mackenzie.
In July, the state governments preferred option was a merger between Fremantle, East Fremantle and Melville.
“The key issue the City of Fremantle has with the current state government proposal is that Melville's key activity centre is Murdoch, and of course Fremantle's is Fremantle.
“Of the 14 local governments being proposed by the government, the Fremantle/East Fremantle/Melville merger is the only one that would contain two major activity centres as defined by Directions 2031.
“Accordingly, the city maintains its position of supporting sensible reform based on strengthening the major activity centres around the greater Perth metropolitan area.
“This position has been formalised in our proposition to the Local Government Advisory Board,” says Mackenzie.
The local government reform submission also included a change to the eastern boundary to align it with Stock Road and to transfer Samson and part of O’Connor to the City Melville.
The submission also included a change to the southern boundary with a new boundary to incorporate the localities of Hamilton Hill and North Coogee and a change to the western boundary to incorporate Rottnest Island.
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Merge between City of Fremantle and East Fremantle at core of reform submission

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Owner-occupiers have accounted for some 70% of sales in the Watermarque building in Australand’s $500 million Hamilton Reach project.
Comprising of 78 apartments, the Watermarque building has achieved more than $50 million in sales.
“These buyers [owner occupiers] are looking to spend between $500,000 and $1.5 million on their next home as they downsize from the larger family home while keeping money in their back pocket,” says Australand’s general manager of Queensland residential division Cameron Leggatt.
“They want to move to places that will enhance their lifestyle, with amenities, security and central locations a high priority.
“Typically, they are looking for two and three-bedroom options, in low to medium-rise developments, with generous, well-designed living spaces.
“The buyer profile that has emerged at Watermarque demonstrates that the considered designs of the two and three-bedroom apartment options at Hamilton Reach have hit the mark with owner occupiers looking for larger living spaces,” says Leggatt.
Construction is now complete on the two five-level buildings with three two-bedroom apartments remaining, priced from $635,000 to $710,000.
The Hamilton Reach development is located six kilometres from the Brisbane CBD in north shore <a href="/news">Hamilton </a>and is bordered by 530 metres of river frontage and 2.5 hectares of Northshore Riverside Park.
Property Observer first reported on the <a href="https://www.propertyobserver.com.au/developments/brisbane-development-watermarque-40-sold/2011110751955" target="_blank">Watermarque</a> building in November 2011, after it came to the market in April 2011.
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Hamilton Reach's Watermarque building hits the mark with owner-occupiers

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Construction on the third stage of Cape Bouvard’s $450 million Settler’s Cove development in Noosa is now complete, with all top-floor penthouse apartments also snapped up.
Iluka has been three years in the making as plans were modified following the Global Financial Crisis.
Comprising of 22 apartments, presales have surpassed $20 million with 14 three-bedroom apartments remaining.
{yoogallery src=[images/stories/2013/10/11/set2]}
Iluka Settler's Cove interiors
Remaining apartments are priced from $1.625 million with internal areas ranging from 213 square metres to 276 square metres.
All four penthouses have sold - priced between $2.975 million to $3.3 million – and include a roof terrace, gas fireplace and built-in cool room.
“Prospective buyers have been circling for some time, eager to see Iluka’s points of difference and superior inclusions,” says Settler’s Cove sales and marketing manager Dane Larcombe.
“For our recent buyers, the benefit of seeing the complex completed has given them the confidence to move forward with their purchase.
“We expect this trend to continue now that we are able to fully showcase the Iluka complex,” says Larcombe.
The successful presales has followed the demand of previous stages with stage one Elandra a sell out and stage two, Riverlight, also a sell out.
Iluka will feature a 25-metre lagoon pool, lounge and BBQ pavilions, spa, gym and indoor plunge pool.
{yoogallery src=[images/stories/2013/10/11/set1]}
Iluka Settler's Cove exteriors
“Iluka has been designed with the end-user in mind and its superior inclusions demonstrate Cape Bouvard’s aim to constantly improve with each new stage.
“Buyers have responded well to this step up in luxury and to the associated price point, despite the ongoing challenges in achieving sales at the upper end of the market,” says Larcombe.
There are three more stages to come in the Settler’s Cove development with the Emerald stage of 14 boutique apartments to be released next year.
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Construction wraps up on third stage of Noosa's $450m Settler's Cove development

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The first stage of Adelaide’s inner-city development Ergo, comprising of 52 apartments, has been snapped up less than a year after being released to the market.
Located on Sturt Street, Ergo is developed by Hindmarsh Development and the Adelaide City Council, and features designs by Hames Sharley.
“Announcing that all apartments in the first stage release of Ergo are completely sold out is terrific news for purchasers and a major milestone for the project,” says Lord Mayor Stephen Yarwood.
“Ergo is a fantastic urban development breathing new life into the up-and-coming south-western quarter of the CBD.
"It’s been meticulously planned to increase the number and diversity of people living in the city, so the sales result is an excellent outcome,” says Yarwood.
Apartments in Ergo could be bought as part of the project’s federal government funding and innovative shared equity scheme the council developed with HomeStart.
“Being able to obtain funding through the Federal Government’s Housing Affordability Fund for a portion of the apartments at Ergo has certainly helped open the door to many young homebuyers,” says Yarwood.
“So in addition to the medium and higher end apartments within Ergo, the development is also catering for young first homebuyers who otherwise would be locked out of the inner-city property market,” says Yarwood.
“The south-western quarter of the Adelaide CBD is enjoying a real revival as a property hotspot, with Ergo representing a great opportunity for a range of homebuyers to secure the inner-city lifestyle they want,” says Hindmarch Development manager Morry Canala.
"Ergo is not your typical big box city development.
“Considerable effort has gone into the aesthetics of the buildings to make them visually appealing both inside and out, while the apartments themselves are spacious and really well spread out from a density perspective,” says Canala.
The project will also incorporate 20% public open space, including a central piazza and residents will feel secure with a bike storage and underground parking.
Upon completion, Ergo will comprise of 178 apartments.
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Stage one of Adelaide's Ergo development a sell out

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Melbourne is forecast to overshadow the City of Sydney as a job hub before 2040 as major new urban renewal precincts come to light, according to Minister of Planning Matthew Guy.
The upcoming metropolitan blueprint Plan Melbourne suggests that Melbourne could bypass Sydney as early as 2036 with a total of more than 700,000 jobs, up from 450,000 in 2011.
Major new urban renewal precincts include Fishermans Bend, E-Gate and Arden Macaulay and Docklands, which is now complete.
“Driving the growth of the City of Melbourne as Australia’s largest jobs hub by 2040 will be a key direction of the upcoming metropolitan blueprint, Plan Melbourne,” says Guy.
“We are on track to achieve this outcome by 2040 or earlier with nearly 90,000 jobs added in the City of Melbourne between 2006 and 2011 compared with less than 30,000 in the City of Sydney,” says Guy.
As at the 2011 Census, the City of Sydney housed a total of 530,000 jobs compared to 450,000 in the City of Melbourne,
“The key to a productive and competitive Melbourne is a reduction in the cost and time it takes for the labour force to travel to work.
“That is why the Victorian Coalition Government is unlocking residential and mixed use development opportunities in and around the CBD of Melbourne.
“Every resident that lives and works in the central city saves Victorian taxpayers money in regard to road and public transport costs,” says Guy.
Guy says to build the nation’s largest job hub we also need to build the largest residential hub.
“The nation’s largest jobs hub will also require significant future investment in transport infrastructure to make it accessible for commuters but able to be bypassed by freight and logistic movements.
“That is why the Coalition Government is continuing to jointly progress construction of the East West Link and planning of the Melbourne Metro rail tunnel,” says Guy.
There is capacity for more than 300,000 additional jobs in the City of Melbourne and Fishermans Bend urban renewal area, according to the Department of Transport Planning and Local Infrastructure.
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Melbourne to overshadow the City of Sydney by 2040 at nation's job hub

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The Coolangatta development pipeline has remained stabled over the past year, with nearly $4.6 billion in development projects planned or underway, according to Colliers International.
It is a reduction of $145 million – 3% - when compared to the previous year but there are 23 projects planned or underway, three more than last year.
Development spending peaked in 2008 at $5.155 billion.
“While spending has fallen, there were actually four new projects added to Coolangatta’s development pipeline over the past year, the largest of which was the $220 million redevelopment of the Kirra Beach Hotel, followed by the $60 million redevelopment of Showcase on the Beach shopping centre,” says Lynda Campbell, Colliers International Gold Coast research manager.
“The other two projects added to the pipeline were significantly smaller and included a $12 million apartment development at Musgrave Street in Kirra and a $5 million apartment development at Golden Four Drive in Tugun,” says Campbell.
Infrastructure accounts for the greatest level of development spending at $2.83 billion – 60% - with six projects in the pipeline.
“More infrastructure is needed to provide for an increased population on the southern Gold Coast, and while there are a few projects underway, it could be years before they are completed – in fact, for some there are no dates set in stone,” says Stewart Gilchrist, International Gold Coast director.
“The $420 million M1 upgrade from Nerang to Tugun is underway, as is the $10 million Palm Beach-Currumbin Hospital extension, but the former at least will take some time to be completed.
“Other infrastructure projects such as the planned $950 million Gold Coast Light Rail Stage 2 and the $1.2 billion proposed rail link from Robina to Coolangatta have no defined deadlines.
“In particular stage two of the light rail project would have a huge impact.
“Once that stage is completed the light rail will run from the airport at Coolangatta, which would enable athletes and visitors to get off a plane and connect all the way to the Games Village at Parklands, stopping off at the tourist hubs of Broadbeach and Surfers Paradise along the way,” says Gilchrist.
Apartment projects rank third in terms of the dollar value of development spending, worth a total of $402 million across 12 projects.
Campbell says the southern beachside precinct is in need of new apartment projects.
“It now has an extremely low level of new supply, with just 14 apartments available across four projects.
“The apartment projects in the pipeline will start to alleviate this shortage, however, with some expected to be launched to the market within the next six months,” says Campbell.
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Coolangatta development pipeline on track with $4.6 billion worth of developments

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The former Morrison Brothers nursery and orchard site in Doncaster has hit the market for the first time, having been owned by the Morrison family for the past 69 years.
The 2.8-hectare site on the corner of Williamsons Road and Henry Street is a residential zoned one site on multiple titles.
“This is the first time this property has been offered for sale since 1944,” says Peter Bremner of Colliers International.
“It is also one of Melbourne’s last remaining premium quality infill residential sites and we anticipate strong interest from a wide range of developers keen to unlock its future potential.
“We expect residential developers will show interest in utilising the site for a variety of purposes, whether it be larger dwellings, townhouses or apartments.
“This interest is set to come not only from local private and public company developers, but also from interstate and Asia.
“It is one of the last remaining sites of this magnitude in Melbourne that is appropriately zoned for residential development, and given it has been used as a nursery and orchard for over 50 years with development surrounding it, it is the last undeveloped parcel of land in the area,” says Bremner.
The nursery and orchard has passed through several generations of the Morrion family but the business recently closed after being faced with rates and land taxes of more than $100,000.
The site will go to sale by tender through Peter Bremner and Brett Griffith of Colliers International, closing November 21.
Industry sources say it could fetch between $15 million to $20 million.
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Developers to circle as Morrison Brother's nursery site hits the market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Nicola Trotman

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