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The crowning jewel at the top of the Array tower in Yarra’s Edge is two, multi-level four-bedroom penthouses with a price tag of $8 million each.
The east and west penthouses span over levels 38 and 39 and feature 424 square metres of indoor living space and over 62 square metres of alfresco space.
Penthouses feature double height ceilings, floor to ceiling windows and interior finishes include marble, natural stone, warm timber floor and wall paneling and wool-rich carpets.
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Residents have the ability to customize the floor plan and can choose from two colour schemes – the light Monaco scheme or the dark Milan scheme.
“When elite buyers are looking for a place to call home, we know they’re looking for a bespoke approach that includes product innovation and individual customization,” says Mirvac chief executive officer of residential John Carfi.
“The Array multi-level penthouses offer opulent living at its best – a new level of luxury on Melbourne’s waterfront.
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“There is a market for prestige living in Melbourne. Mirvac’s Melburnian Penthouse, which originally sold off-the-plan for $5 million in 2000 sold for $15 million just a few years back. We’re addressing this demand for the ultimate in prestige and privacy with Array,” says Carfi.
Freddy Wang of Mirvac confirmed a deposit has been placed on the east penthouse.
The $218 million 39-storey Array development features 203 additional one-, two-, three- and four-bedroom residences.
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One-bedroom apartments are priced from $520,000.
Array is currently 70% sold.
Wang says the tower has attracted a mix of buyers but mostly owner-occupiers.
Mirvac is the developer of the Yarra’s Edge portion of <a target="_blank" href="/news">Docklands</a>, a 14-hectare site on the southern banks of the Yarra River that extends out from the <a target="_blank" href="/news">Southbank </a>promenade connected to the city via the new South Wharf precinct.
Array is one of five residential towers planned for Yarra’s Edge, alongside a full-service marina, parklands, a day spa and a mix of shops, cafes and restaurants along the promenade.
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Earlier this year, Mirvac launched a project-specific brand loyalty-royalty scheme for their returning or new clientele, know as <a target="_blank" href="https://www.propertyobserver.com.au/victoria/nothing-backward-about-mirvac-s-black-label-loyalty-offering-at-array/2013030359620">Black Label by Mirvac</a>.
Construction on Array commenced in 2012 and has a scheduled completion date of 2015.
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Array's $8 million crowning jewel penthouses grace Yarra's Edge

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The first residential development in the Appin area for over 10 years is proving to be popular, with approximately two thirds of the second release snapped up in just weeks.
Located in the Wollondilly Shire, the first release of Appin Valley comprised of 75 land and house and land packages.
Released in late June, the first stage was snapped up in just over a month, resulting in Walker Corporation moving forward the second release.
“Urban residents are being attracted to the value of not only the generous-­-sized lots, but also its position within an established, neighbourly community that’s in close proximity to the shopping hub of Campbelltown and the beaches of Wollongong,” says Tim Solan, development manager at Walker Corporation.
The second release comprises of 52 lots, ranging from 450 square metres to 720 square metres and priced from $180,000 to $310,000.
House and land packages start from low $400,000.
“We’ve seen solid interest from young, local Wollondilly families, keen to build the family home they’ve always wanted in the community they already feel so connected to,” says Solan.
The residential community has also attracted relocating city dwellers, retirees, families, first home owners and investors.
“Appin is well known for its heritage, rich culture and rural surrounds – which is driving families to make their home in the region.
“Purchasers should be confident that they are buying expansive sized lots in a quality development; getting better value for money than many other new home offerings in the region,” says Solan.
Solan says Appin was a semi rural township for a long time, and although Appin Valley was approved some years ago, the project didn’t commence until the Appin Sewerage Scheme was installed.
“The sewerage scheme was a milestone for Appin and activated our project,” says Solan.
Construction on the 33-hectare residential community began in July and will house 336 homes for around 1,000 residents over the next five years.
Solan says there are just over 200 lots to still be delivered, which will be broken into 30 lots releases.
Stage three will be released within the next month.
The median house price in <a target="_blank" href="/news">Appin</a> is $477,500, a 22.4% change in the past five years, according to RP Data.
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Wollondilly Shire's Appin Valley brings forward second release following buyer demand

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The fourth and final Parklife building at Australand’s Clemton Park Village is to be launched in October, but registrations of interest are now open.
The final Parklife release will comprise of 75 one- and two-bedroom apartments, with construction commencing three months ahead of schedule.
One-bedroom apartments are priced from $425,000 to $445,000 and range in size from 56 square metres to 77 square metres.
Two-bedroom apartments range in price from $565,000 to $650,000 and range in size from 74 square metres to 128 square metres.
Located in Sydney’s Inner West, over 340 apartments have sold across the <a target="_blank" href="https://www.propertyobserver.com.au/developments/former-factory-site-clemton-park-releases-third-lot-of-apartments-with-one-bedders-starting-at-%24430000/2013070259593">5.5-hectare Campsie development</a>.
“We are experiencing increasing demand for the quality product on offer within Parklife and sales momentum has been extremely strong for all three building releases to date,” says Australand NSW Residential Division General Manager Nigel Edgar.
“The affordable entry price point for these new Parklife apartments presents first home buyers and investors a great opportunity to enter the growing Inner West market and take advantage of the NSW Government Grants.
“The benefits of purchasing at Clemton Park Village extend far beyond just brand new apartments, with buyers able to enjoy the planned family-friendly village environment which provides door step convenience to retail and recreational facilities.
““We urge all interested buyers to act fast on this final building release as the opportunity to secure a Parklife apartment at Clemton Park Village is coming to an end,” says Edgar.
Parklife will comprise of 299 apartments in total.
The proposed retail village in the centre of Clemton Park includes an open-air plaza, surrounded by cafes and restaurants and over 20 retail outlets.
Previous stages, including Courtyard Apartments and Air Apartments, have sold out.
Construction on Courtyard Apartments is complete, with Air apartments scheduled for completion by the end of the year.
The median apartment price in <a target="_blank" href="/news">Campsie</a> is $400,000, a 45.5% change in the past five years, according to RP Data.
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Clemton Park Village to release fourth and final Parklife building

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It is important for buyers to understand the real estate lingo that auctioneers use if they were to bid confidently at auction, according to EPS Property Search director Patrick Bright.
“Life many professionals, real estate has its own language and terminology that is often intimidating and confusing to outsiders.
“At an auction, the auctioneer wants to run the bidding up as fast as possible, taking big rises and using their bags of tricks, jargon and one-liners to maintain the bidding momentum,” says Bright.
Bright says if you don’t understand the environment or the language being used, it can be quite intimidating.
Bright has decoded the lingo for you below.
I’ll only take rises of $50,000 or more means the bidding is a long way short of the reserve price.
First call! Second call! If the property is not yet on the market, Bright says the auctioneer is trying to provoke fear in buyers that they’ll miss out if they don’t bid now and if the reserve has been met, you will miss out if you don’t bid now.
I’ll refer the bid means the bidding has stalled below the reserve and the auctioneer needs to talk to the selling agent to apply pressure to the vendor to lower their reserve price, in hope of making a sale under the hammer.
I am selling or we’re playing for keeps means the property is on the market and will go to the highest bidder.
I’m making a vendor bid of means the auction has either stalled a long way before reserve or no one has made an opening bid and the auctioneer makes a bid on before of the vendor.
I’m confident it will be sold under the hammer means the auctioneer has been advised by the selling agent that the property has a really lower reserve or the selling agent has received decent pre-auction offers from buyers who are at the auction.
Last opportunity means the property is about to be passed in if the reserve has not been met or if the reserve has been met, the property is about to be sold.
I’m happy to take rises of $500 means the bidding is close to the reserve or the property is about to be sold and the auctioneer is trying to get a bit more out of the bidders.
There’s real value here today buyers translates to the auctioneer trying to encourage bids when none are forthcoming.
We think it’s worth more means the selling agent has over-quoted to the vendor to get the listing, or the bidding is a long from the reserve, or a combination of both.
We’re selling today is typically an attempt to get you to bid when the reserve hasn’t been met, according to Bright.
Bright says if you hear the we’re selling today phrase, always ask if the reserve has been met, as some auctioneers use the term once the reserve has been met but most will beforehand.
“Your chance of bidding against a dummy bidder is high prior to the reserve being met and the property being called on the market – in 99% of situations, you’re better off not bidding until the reserve has been met.
“If you are buying at auction and you don’t know much about the process or haven’t at the very least attended a dozen auctions to see what goes on then you should certainly engage a professional such as an experienced buyer’s agent or ex-auctioneer to represent,” says Bright.
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Understanding auction talk: Patrick Bright

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The Reserve Bank of Australia is to go easy on interest rates in the next 18 months and there could be the possibility of more cuts if property conditions worsen, according to BIS Shrapnel.
BIS Shrapnel has forecasted 156,800 dwelling commencements across the nation as the final result for 2012/2013, an annual increase of 8%.
BIS Shrapnel says investors and upgraders/downsizers have underpinned this upturn in dwelling commencements, however first home buyers will need to return to the market to support the next stage of recovery.
“The changes to the First Home Owner Grant (FHOG) are so far limiting any increase in demand from FHBS, with all states/territories except for the Northern Territory having either made changes or announced changes to the policy,” says BIS Shrapnel.
FHBs are forecasted to gradually return to the market and are expected to play an important role in 2014.
BIS Shrapnel says the gradual return of FHBs will see growth accelerate in 2014, with private house commencements picking up strongly.
There is forecasted to be 166,150 building commencements in 2014, an 8% increase, with private dwellings reaching their highest annual level since 2004.
BIS Shrapnel says New South Wales is leading the way as the strongest growth region for total dwelling commencements, an annual increase of 24%, but the residential property market remains tight.
This tightness is supporting strong growth in dwelling prices and rents and makes Sydney the least affordable out of the Australian capital cities, with a vacancy rate of 1.8%.
BIS Shrapnel says the number of loans given to FHBs in New South Wales dropped by 44% over 2012/2013.
“Filling the void left by FHBS has been the investor segment of the market, which is increasingly competing for properties at the lower end of the established market.
“Although this makes it difficult for FHBs, it still provides a market into which upgrader/downsizers can sell their existing dwellings and creates the desired turnover required to encourage the development of new dwellings.”
Meanwhile, BIS Shrapnel says Melbourne is the opposite as its property market is estimated to have moved into oversupply with the vacancy rate increasing to 2.8% in the past year.
BIS Shrapnel expects the vacancy rate in Melbourne to continue to rise with a sizeable number of dwellings coming through the supply pipeline.
BIS Shrapnel forecasts Melbourne’s oversupply to continue in 2014, which will limit the prospects for future increases in residential building activity.
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FHBs need to return to the market to underpin next recovery stage: BIS Shrapnel

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The Real Estate Institute of Australia says the Standing Committee on Federal Financial Relations should vote no on the latest version of national licensing for real estate.
The committee is due to meet in November.
The REIA says that before the committee reconsiders national licensing for the real estate profession, there should be a review of the property development, sales and management qualifications that must be undertaken.
“The Decision Regulation Impact Statement - Proposal for National 
Licensing for Property Occupations (DRIS) is totally inadequate and fails to comprehend the responsibilities of agents and agents’ representatives in proposing educational qualifications and the integral role played by Continuing Professional Development (CPD),” says REIA President Peter Bushby.
“Under the proposal, consumers in Western Australia, NSW, Tasmania and the ACT would lose the benefit of agents’ CPD, leaving them at possible risk when buying or selling,” says Bushby.
Bushby says Victoria would lose regulations that require agents to hold a single licence and consumers in Western Australia, the Northern Territory, Tasmania and South Australia would face a lowering of educational qualifications of an agent from diploma level to certificate IV.
“Queensland would face the lowering of entry level training of agents from 7 to 4 units of competency,” says Bushby.
Bushby says officers with experience in the development of regulation for the property industry should develop licensing conduct laws for jurisdictions.
“This is something that NOLA, in its submission to the Productivity Commission on labour mobility, agreed with,” says Bushby.
The REIA says there would then be no role for the National Occupational Licensing Authority (NOLA) and for it to be abolished.
“NOLA has evolved as a very costly white elephant and another example of bureaucratic excesses that failed to deliver value for the expected outcomes,” says Bushby.
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Consumers at risk if latest version of national licensing for real estate approved: REIA

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The current First Home Buyers Grant (FHOG) in Western Australia is still on the table for potential first-home buyers, as the bill is yet to be passed by parliament, according to REIWA.
“The state government announced changes to the FHOG in the August budget and was aiming for September 15 as the change-over date, but parliament has not yet fully processed this legislation so the change now looks like happening in October,” says REIWA president David Airey.
First home buyers are currently eligible for a grant of $7,000 whether they buy an established home or build a new one.
Once the bill is passed, the grant for established homes will drop to $3,000 and those building a new home will be eligible for $10,000.
Airey says the delay in the grant change is good news for the 70% of home buyers who preferred to purchased existing, older homes rather than building new homes.
“The current delay in the change means that first home buyers looking for an established property have a few more weeks to access the higher grant and, conversely, those who want to buy a block and build will be likely to hold back until the grant lifts to $10,000,” says Airey.
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WA FHOGs up for grabs as new grants face delay

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Ryan Crawford, group director of Crawford Property Group has compiled five tips to achieve financial freedom in less than five years.
Crawford’s first tip is to appoint a mortgage broker who specialises in creating multiple property portfolios.
Crawford says these brokers understand the mindset of the property investor over brokers who typically deal with home buyers and can help develop a financial strategy and will focus on leveraging your equity.
Crawford says these brokers will guide you on how to maximise your borrowing capacity.
The next tip focuses on creating instate equity.
Crawford says to look for opportunities in the market that will deliver instant equity within six months of settlement.
“This is key to fast growth,” says Crawford.
Equity can come in different forms and includes house and lack packages, renovating a well-located but older unit and adding extensions such as a granny flat.
Crawford says by selecting a property that will deliver a minimum of $50,000 equity upon completion of the project will place you in a good position for your next investment purchase, which generally could be within the next 12 months.
“House and land packages are one of the fastest ways for beginner investors to get ahead and build an equity base behind them for future purchases,” says Crawdford.
Crawford’s third tip is to make short term lifestyle choices to maintain a positive position with lenders while you grow your portfolio to a self sustaining level.
Crawford says investors who have not purchased a PPOR should hold back and remain in the market until they have secured a minimum of three to four investment properties.
Crawford says to remain in a stable job and avoid unnecessary debt and spending while your portfolio is in its initial growth phase, this includes credit cards and large car and personal loans.
“Lifestyle freedom and luxuries are the spoils of a successful property investor and should only be indulged once financial freedom and stability has been reached.”
Every investment has an element of risk and the fourth tip is to not disregard risk, but obtain a level of comfort with the risk associated.
Crawford says market timing, location and the property itself will all carry risks but must be calculated against the benefits.
“There is no return without risk, so arm yourself with the best information to become comfortable with the direction and portfolio goals you have set.”
Crawford says to talk to other investors, finance brokers, property strategists and real life success stories.
Last but not least, Crawford says to appoint a mentor to guide and advise you on how to best position yourself to achieve your goals.
This mentor should have achieved significant results in property investing and can provide accurate guidance based on their personal investment journey.
“They will adequately guide the growth of your portfolio and save you from a number of costly mistakes that are often made in the beginner stages.
“Being comfortable and confident with your strategy is the only way to rapid and sustained portfolio growth,” says Crawford.
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Five tips to achieve financial freedom in less than five years: Ryan Crawford

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The largest new masterplanned community on the Gold Coast – Gainsborough Greens – has experienced a record quarter of 40 sales totalling $8.1 million.
The busy quarter was the strongest three month period for the Mirvac community since its launch in late 2010, pushing the end of financial year sales to $20.7 million – an increase of more than 53% on the previous financial year.
The Pimpama residential community will comprise of 2,200 homes across a series of interconnected villages once complete.
More than 75% of lots in the first two stages Terrace Green Village and Green Park Village have now sold.
"Now that we have residents living in more than 80 homes and the first parks and facilities completed, people can get a feel for the community and how it will develop," says Mirvac national residential chief executive John Carfi
"At the same time, Gainsborough Greens is still in its infancy, providing a chance for residents to get in now and become a part of its growth, and the growth of the wider northern Gold Coast corridor.
“We have specifically masterplanned Gainsborough Greens to offer a variety of homesites and locations to suit a diverse mix of buyers,” says Carfi.
Carfi says the community has been popular with first home buyers, growing families wanting to upsize, empty nesters and retirees.
Land is priced from $170,000 and ranges in size from 375 square metres to 879 square metres.
Home and land packages start from $348,200.
Terrace Green Village is adjacent to the golf course and includes a recreation centre with a 20-metre pool.
Gainsborough Greens will dedicate 65% of the community to open space, making it one of the greenest developments on the Gold Coast.
The median house price in <a href="/news">Pimpama</a> is $382,000, a 20.7% decrease in the past five years, according to RP Data.
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Mirvac's Gainsborough Greens records record quarter of sales totaling $8.1 million

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As the weather warms and auction volumes increase, the clearance rate across the capital cities has decreased from 74.9% the previous week to 74.6% this week, according to RP Data.
Some 1,941 auctions are scheduled across the capital cities this week.
The number of auctions across the capital cities almost doubled last week from 1,054 the previous week to 2,074 last week.
At the same time last year there were 1,469 auctions and the clearance rate was substantially lower at 52.8%.
Melbourne held a revised figure of 974 auctions last week, almost double the amount held on election weekend at 530 auctions.
Melbourne will hold a similar amount again this week, with 928 auctions scheduled.
The clearance rate decreased slightly from 74.7% the previous week to 73.6% last week.
At the same time last year Melbourne held 736 auctions and had a clearance rate of 55.6%.
Sydney’s auction volume more than doubled last week to 806 auctions from 337 the previous week.
Sydney’s preliminary clearance rate also dropped slightly from 85.1% the previous week to 84.3% last week.
At the same time last year Sydney held 512 auctions and had a clearance rate of 56.7%.
Sydney is scheduled to hold 687 auctions this week.
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Spring auction volumes remain strong but clearance rate dips slightly: RP Data

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.

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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."

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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.

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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.

[smartcode_project_cta:default project_id=134951]

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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