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A four-bedroom Victorian Terrace - part of the circa 1883 Dorset Terrace in East Melbourne - is this week’s most expensive sale, selling under the hammer for $3.81 million, according to RP Data.
Located at 114 Hotham Street, the two-storey 19th century terrace property was home to Roy Armfield, the former chairman of the Scientific Advisory Board at Mars Inc in the US, and his wife Rowena.
Armfield purchased the home in 2001 and has since restored it.
Situated on 331 square metres, the property features polished floorboards throughout, two bathrooms and a central courtyard.
Guy Angwin of James Buyers Advocate says there were two registered bidders at the September 14 auction and a crowd of around 120 people.
The property was listed with Paul Caine of <a target="_blank" href="https://www.caine.com.au/1029956/">Caine Real Estate East Melbourne</a>.
The median house price in <a target="_blank" href="/news">East Melbourne</a> is $2,492,500, a 59.5% change in the past five years, according to RP Data.
Most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/114_hotham_street_east_melbourne_vic_3002/10875155">114 Hotham Street, East Melbourne, VIC, 3002,</a> four-bedroom house, sold at auction on September 14 by Caine Real Estate East Melbourne for $3.81 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/88_queens_park_road_queens_park_nsw_2022/5705775">88 Queens Park Road, Queens Park, NSW, 2022,</a> four-bedroom house, sold prior to auction on September 10 by GoodyerDonnelley Real Estate for $3.5 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/111_brighton_boulevard_north_bondi_nsw_2026/4952801">111 Brighton Boulevard, North Bondi, NSW, 2026,</a> three-bedroom house, sold on September 14 by Black Lifestyle Property for $3.5 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_coonil_crescent_malvern_vic_3144/11575692">12 Coonil Crescent, Malvern, VIC, 3144,</a> six-bedroom house, sold at auction on September 14 by Jellis Craig Bennison Mackinnon Armadale for $3.425 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/31_fairweather_street_bellevue_hill_nsw_2023/1369408">31 Fairweather Street, Bellevue Hill, NSW, 2023,</a> four-bedroom house, sold at auction on September 10 by Laing + Simmons Bondi Junction for $3.226 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_elphinstone_street_cabarita_nsw_2137/1665526">2 Elphinstone Street, Cabarita, NSW, 2137,</a> five-bedroom house, sold at auction on September 14 by Haus Real Estate Strathfield for $2.942 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61_wilson_street_princes_hill_vic_3054/12650190">61 Wilson Street, Carlton North, VIC, 3054,</a> four-bedroom house, sold at auction on September 14 by Nelson Alexander Carlton North for $2.92 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/45_govett_street_randwick_nsw_2031/5754464">45 Govett Street, Randwick, NSW, 2031,</a> four-bedroom house, sold prior to auction on September 14 by GoodyerDonnelley Real Estate for $2.915 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_clifton_street_richmond_vic_3121/12731473">20 Clifton Street, Richmond, VIC, 3121,</a> three-bedroom house, sold at auction on September 14 by Jellis Craig Bennison Mackinnon South Yarra for $2.88 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_namoi_road_northbridge_nsw_2063/5070457">21 Namoi Road, Northbridge, NSW, 2063,</a> four-bedroom house, sold prior to auction on September 14 by L J Hooker Northbridge for $2.715 million
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East Melbourne 19th century terrace sells for $3.81 million under the hammer: RP Data

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LEO, a six level boutique apartment complex by Kokoda Property in Hawthorn East is now 75% sold.
Located on Camberwell Road, the development features 89 one- and two-bedroom apartments with interiors by Belle Magazine’s Interior Designers of the Year, Hecker Guthrie.
“We have been overwhelmed with purchasers who are eager to be one of the first to secure an apartment in this blue chip location,” says Kokoda Property sales and marketing manager Sam Tucker.
“LEO delivers a designer lifestyle at an affordable price so we have no doubt this project will sell out in record time.
“Our business model at Kokoda Property is simple: deliver beautiful apartment projects in blue-chip locations surrounded by existing amenity and transport options,” says Tucker.
Apartments feature Scandinavian styling and boast bespoke timber cabinetry, Miele appliances, timber flooring and marble bench tops, as well as 2.7-metre high ceilings.
One-bedroom apartments range in size from 41 square metres to 70 square metres, with remaining apartments priced from $379,000.
Two-bedroom apartments range in size from 62 square metres to 124 square metres, with remaining apartments priced from $569,000.
Buyers will also have the choice of powder-coated black, gold or stainless steel tapware.
Designed by Artisan Architects, the lobby features exposed concrete flooring, timber wall panelling, pendant lighting features and a private gymnasium.
“LEO is the epitome of style and elegance in a highly desirable pocket of Melbourne so we are confident it will appeal to a broad range of buyers,” says Tucker.
The development has attracted a mix of buyers, from local first home owners to downsizers and local investors. 
LEO has a scheduled completion date of mid-2015.
The median apartment price in <a href="/news">Hawthorn East</a> is $499,000, a 6.7% change in the past five years, according to RP Data.
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Hawthorn East's LEO development now 75% sold

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Sebel hotel (pictured below) will grace NewQuay’s waterfront promenade, following the signing of an agreement between Accor and hotel developer and investor MAB Corporation. 
<img alt="sebel_sept_13_one" height="313" width="470" src="/images/stories/Nicolas_Uploads/sebel_sept_13_one.jpg">
It will be the first new build Sebel hotel in Australia since 2009 but will join Accor’s portfolio of 16 Sebel hotels and apartments across Australia and New Zealand.
The $60 million hotel development is designed by McBridge Charles Ryan architects and will feature 96 self-contained studios, one- and two-bedroom apartments across seven levels.
Guest facilities include a private lounge, cinema, library, reading room, business centre and a private dining room with a kitchen and bar.
Guests will also have use to the 25-metre indoor pool, rooftop garden and tennis court.
“The arrival of a new upscale apartment product will be a key development for Melbourne,” says chief operating officer Accor Pacific Simon McGrath.
“The growth opportunities for serviced apartments have steadily been on the ride over the past 15 years, and, what is different about Sebel is that is has invested extensively in giving a premium apartment experience to provide guests with the facilities and freedom they desire, particularly for those in the long-stay category.
McGrath says the hotel will cater to solo business travellers, as well as leisure travellers who seek an independent and self-sufficient stay.
The hotel is set to open on October 4.
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Sebel Hotel to open in Dockland's waterfront precinct 

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Some 50% of apartments have sold in the boutique apartment development Vélo in Northbridge, with the rest expected to be snapped up at the launch this weekend, following the change in government.
Developed by local developers Baltinas Made and designed by Baltinas Architecture, the $32 million boutique apartment development features 61 apartments.
“Since the election result came through, buyers that have been sitting on the fence for weeks have been calling us chasing properties to invest in,” says MLG Realty director Cindy Lee.
“The reaction has been amazing – there has been a surge in confidence from the change of government and buyers are also citing record low interest rates as a huge factor for hem.
“Given all of that and Northbridge’s potential for great growth, we suspect Vélo will sell out soon after its public launch this week,” says Lee.
Interest has been particularly strong for one-bedroom apartments, with interest from singles, couples and investors.
One-bedroom apartments start from $385,000 and two-bedroom apartments start from $535,000.
Apartments feature winter garden balconies, rooftop water harvesting technology and solar panels and a ground level bar and café.
The median apartment price in <a href="/news">Northbridge</a> is $506,500, a 0.3% change in the past five years, according to RP Data.</body></html>

Change in government gives WA buyers a boost of confidence

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Property Observer has compiled a list of the top five developments of the past year, from eye-catching designs and sky high towers to bustling master planned communities.
<img alt="poll-results-sept-16" height="308" width="470" src="/images/stories/2013/09/16/poll-results-sept-16.jpg">
Send your reasoning to <a href="mailto:%20ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
For more information on the developments, see below.
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1) First on the list is Koichi Takada-designed <a href="https://www.propertyobserver.com.au/new-south-wales/skye-by-crown-set-to-become-north-sydney-icon-skye-crown/2013052361500" target="_blank">Skye by Crown</a> in North Sydney.
The 20-storey residential complex will feature a bronze coloured veil exterior and the 232 apartments will feature glass facades, balconies and winter gardens.
The standout feature is the 25-metre rooftop infinity edge pool, boasting panoramic views.
Apartments range in price from $499,000 to $2 million plus.
“The infinity pool on top of the architecture creates an illusion of floating above the city skyline,” says Takada.
“You feel like you’re on a remote island in a five star resort,” says Takada.
Crown Group chief executive Iwan Sunito says Crown’s vision for the development is to create an icon in the heart of North Sydney.
All three penthouses in the Skye by Crown development in North Sydney have sold, with the most expensive one selling for $3.5 million.
Construction is scheduled to start in late 2013.
{yoogallery src=[images/stories/2013/09/13/north]}
 
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2) Located on St Kilda Road, <a href="https://www.propertyobserver.com.au/developments/st-kilda-s-tallest-building-stk-apartments-snapped-up-ahead-of-official-launch/2013090564603" target="_blank">Caydon’s $200 million S.T.K development</a> also makes it onto the list – marketed as St Kilda’s tallest building.
The 26-level building, made up of two structures within one façade, will house one and two-bedroom apartments, as well as two-bedroom dual level rooftop terraces.
Apartments range in price from $380,000 to $842,000 and townhouses range in price from $645,000 to $820,000.
Designed by Eades and Bergman, apartments will feature textured splashbacks, marble finishes, satin chrome fixtures and timber flooring.
Construction is scheduled to commence early next year, with an expected completion date of late 2015.
{yoogallery src=[images/stories/2013/09/03/sept3st]}
 
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3) Third on the list is <a href="https://www.propertyobserver.com.au/queensland/construction-on-meriton-s-infinity-reaches-new-heights/2013072962914" target="_blank">Meriton’s Infinity development</a> in Brisbane, featuring 549 apartments across 81 levels.
At 262 metres tall, Infinity will be the tallest tower in the Brisbane CBD.
Apartments range in price from $498,000 to $984,000 and boasts floor to ceiling windows and freestanding baths.
Infinity is adopting the latest in elevator technology; a traffic management system to group people who are travelling to the same floors, therefore reducing the number of intermediate stops in between.
Construction is scheduled for completion in late 2013.
{yoogallery src=[images/stories/2013/07/july30brisbane]}
 
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4) Next on the list is the <a href="https://www.propertyobserver.com.au/developments/olympic-park-australia-towers-launches-stage-two-after-stage-one-sells-fast-out-of-the-starting-blocks/2012040354146" target="_blank">Sydney Olympic Park development</a>, a joint venture by Ecove and SOPA (Sydney Olympic Park Authority).
Located on Australia Avenue, the development features 823 apartments across three towers – Australia Towers, ATII and One Australia Avenue.
The towers are designed by Bates Smart and will feature an elliptical shape, inspired by the iconic geometry of the nearby stadia.
Olympic Park is the sporting and entertainment heart of Sydney, with more than 5,000 events held at Blaxland Riverside Park in the suburb every year.
Around 14,000 people are forecast to be living at Sydney Olympic Park by 2030.
{yoogallery src=[images/stories/2013/07/july17australiatower]}
 
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5) Last but not least, Lend Lease’s wooden <a href="/news">Forte development</a> in Melbourne’s Docklands slots into fifth place for its unique design.
Forte is the tallest timber building in the world, claiming the title from the eight-storey apartment block Stadthaus, Murray Grove, in London.
The $11 million timber tower comprises approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria.
Timber developments are around 30% faster to build.
Prices in the tower start at $424,000 for one-bedroom apartments and $579,000 for two-bedroom apartments.
{yoogallery src=[images/stories/2013/09/13/forte]}
Property Observer followed the <a href="https://www.propertyobserver.com.au/developments/forte-scaffolding-comes-down-unwrapping-the-world-s-tallest-timber-building/2012121958596" target="_blank">construction through a series of photos</a>.
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A sight for sore eyes: The top developments of the past year

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More than $234 million worth of apartments have sold in the first two releases of Mirvac’s $350 million luxury residential precinct Waterfront Newstead. 
Located two kilometres from the Brisbane CBD in the Newstead Riverpark community, the 10.6-hectare site will feature six residential precincts once complete, accommodating over 1,000 residents.
Construction on the first release, Pier, began in 2009 with construction starting on the second release, Park, in 2010.
Pier features three- and four-bedroom apartments priced from $2.35 million and Park features two- and three-bedroom apartments priced from $650,000.
A luxury penthouse in the Pier development sold for over $14 million, a Brisbane property record.
“Newstead Riverpark is already becoming a vibrant new community and destination," says Mirvac’s Queensland development director apartments Brett Robinson.
“Across our various stages, Mirvac will offer a variety of apartments to accommodate the diverse mix of residents the precinct will attract - from young professionals through to empty nesters and retirees.
“Pier boasts absolute premium three and four bedroom apartments, right on the riverfront, with the finest of fittings and finishes and an on-site concierge, adding to the luxury and convenience available and making it an extremely rare residential offering,” says Robinson.
Mirvac’s Waterfront Newstead community will take around 15 years to complete.
The residential community will be part of the larger scale Newstead Riverpark, which will feature FKP’s $1.1 billion Gasworks development.
Upon completion, the Gasworks development will include seven buildings offering 17,000 square metres of retail, 103,500 square metres of commercial space and around 750 residential apartments.
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Mirvac secures $234 million in sales at Waterfront Newstead, including $14 million penthouse sale

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Regional towns Karratha, Derby and Moranbah are forecast to boom once again after undergoing price corrections following an unsustainable growth period, according to Crawford Property Group (CPG).
CPG group director Ryan Crawford says these three towns have all the elements of property markets under pressure.
“The recent correction means investors now have the opportunity to buy in low, maximise capital growth and still take advantage of yields of at least 8%.
“With commodity prices strengthening and the federal election having renewed investor and business confidence, we expect these markets to rebound strongly,” says Crawford.
Karratha, one of the largest towns in the north of Western Australia, is part of the WA government’s Pilbara Cities vision to increase the town’s resident population by 250% by 2035.
“Karratha’s house prices have remained flat over the last two quarters after a 20% retraction over the previous 12 months, indicating that the market is bottoming out.
“Increasing leasing activity has stabilised rents, and yields remain well above the national average at around 9% to 10%.
“With discounts available, investors have the opportunity to access these markets at low prices, generate instant income and maximise capital growth,” says Crawford.
Karratha will include Chevron’s $US52 billion Gorgon gas project, one of the world’s largest natural gas projects, which is currently under construction.
The expansion of Woodside’s Pluto LNG project from one train to two is also on the table.
“These two projects alone are expected to sustain housing demand over the long term as the resident workforce grows,” says Crawford.
Crawford says Derby, located in the Kimberley region of Western Australia, is one of the tightest property markets in Australia.
“It’s suffering chronic accommodation shortages, not only from flow effects of the commodities boom but from its unique role as a correctional and administrative centre.
“Derby has a historically low vacancy rate and investors have an attractive opportunity to secure a three to five year Western Australia Department of Housing lease.
“While new residential development has increased the supply of housing in Derby recently, the town is locked by tidal mud flats and Native Title which restricts the amount of land available for future development,” says Crawford.
Derby has four major mining projects planned for the area, totaling $1.6 billion and requiring more than 700 workers.
The median house price in <a target="_blank" href="/news">Derby</a> is $565,000, a 52.7% change in the past five years, according to RP Data.
Crawford says Moranbah, the number one mining town in Queensland, is expected to repeat its historical growth patterns as it reaches the end of its current cycle.
The major resource companies are moving ahead, spending more than $13 billion and creating more than 3,000 permanent jobs.
“The growing workforce and the town’s limited land availability due to surrounding mining leases, will once again increase pressure on housing supply.
“Investors can secure brand new homes with high tenant appeal at attractive prices ahead of the projected influx of workers.
“Well-located properties featuring a high quality finish are estimated to achieve positive cash flow returns of 8% per annum in today’s market,” says Crawford.
The median house price in <a target="_blank" href="/news">Moranbah</a> is $640,000, a 80.8% change in the past five years, according to RP Data.
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Rebounding regional areas identified: Karratha, Derby and Moranbah

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A property on Reserve Road in Cheltenham, currently leased to ONYX café restaurant and bar, is scheduled to go under the hammer for the first time with a $1.1 million plus guide. 
The 203-square-metre building at 12/238 Reserve Road is currently tenanted on a five year + five year + five year lease, with an income of $77,500 per annum – a 7.05% rental yield.
The property was initially listed for $1.3 million but listing agent Charles Cini says the agency wanted to take a different approach and scheduled it for auction.
The vendor has owned the property for five years.
It is scheduled to go to auction on September 18 through Charles Cini, Jarrod Moran and John Nockles of <a target="_blank" href="https://www.cva.net.au/property/8819/sale/12-328-reserve-road/cheltenham-vic-3192/investment-(retail-hotel-leisure)">CVA Property Consultants</a>.
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Cheltenham's ONYX café restaurant building to go under the hammer

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Crown Group’s final stage of it’s Top Ryde City Living development, Viva by Crown, had a successful launch day with 100% of initial Sydney released apartments snapped up within the first two hours.
The August 31 launch saw the release of 60 apartments, with 32 apartments released to Sydney buyers, totaling more than $30 million in Sydney sales.
More than 80% of the initial release is now sold, with more than $4 million worth of apartments sold at the launch in China.
Crown Group director of sales and marketing Adam Sparkes says the exceptionally strong sales at launch can be attributed to a combination of the excellent investment opportunity offered and an increasing demand for off-the-plan apartments from trusted developers in Sydney.
“Property investors are becoming increasingly financially-savvy.
“Buyers recognize the rare investment opportunity at Viva by Crown. It is located close to shops and transport with stunning views and five-star resort style facilities,” says Sparkes.
Project sales manager Roy Marcellus says Viva by Crown is perfect for both downsizers and investors.
“Our buyers see the value in investing in a development which is truly unique.
“There is nothing like Viva by Crown in the market,” says Marcellus.
One-bedroom apartments in Viva by Crown start from $495,000 and two-bedroom apartments start from $790,000.
More than 90% of the first four stages of the Top Ryde City Living development are sold.
Top Ryde City Living was named the <a target="_blank" href="https://www.propertyobserver.com.au/developments/crown-s-top-ryde-city-wins-udia-award-for-high-density-living/2013073163729" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">best high-density development</a> by UDIA NSW in July and recently took out the <a target="_blank" href="https://www.propertyobserver.com.au/news/crown-s-top-ryde-city-wins-most-sought-after-urban-development-prize/2013091064928?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">most sought after urban development award</a> - the Presidents Award.
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Viva by Crown's Sydney launch a sell out in first two hours

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Three eager buyers are camping out at the Berwick Waters sale office in eager anticipation for the release of Waterbloom this Saturday.
Berwick Waters – an estate by Australand and Mondous Property Australia – is made up of two precincts, Heritage Hills and Waterfront.
Waterbloom is located directly opposite the water and includes six blocks ranging from $323,000 to $426,000.
The blocks will be sold on a first come, first serve basis on Saturday, with purchasers required to pay a 10% deposit.
The blocks range from 505 square metres to 747 squares and are targeted at second and fourth home-buyers, according to Bianca Ellis, Berwick Waters estate manager.
The 310-hectare Berwick Waters estate boasts extensive wetlands, shared walking and bike trails and will be complemented by three proposed state schools and a town centre.
The previous release – Macumba - has now released its second stage in the Heritage Hills precinct, comprising of 14 lots.
Berwick Waters is Clyde North's newest community, located 50 kilometres southeast of the Melbourne CBD.
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Buyers set up camp in anticipation for latest Berwick Waters release this weekend

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.

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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>.

[smartcode_project_cta:default project_id=151449]

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.

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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."

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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.

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<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.

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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;

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<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;

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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;

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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;

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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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