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More than $17 million in apartments have sold off the plan in Consolidated Properties 160 Macquarie Tower in St Lucia – just two weeks after launch.
The development will feature 22 apartments across 11 levels, with only two apartments per floor.
Designed by ML Design, the tower is the first new high rise in the Macquarie Street precinct in some 20 years and is being marketed by Pace Projects.
Apartments were priced from $1.5 million, but the remaining 60% start from $1.8 million and range in size from 120 square metres to 460 square metres.
Four purchases have opted to buy two apartments to privately secure a whole floor.
Lachlan Grantley of Consolidated Properties says the success in sales is proof that confidence is coming back to the Brisbane market.
“160 Macquarie was really a tester for the market in a sense, because it has really been a good new years since we have seen a new product like this aimed at the high-end owner-occupier market rather than investors.
“It’s clear that confidence is coming back, this latest spate of sales at the $2.75 million to $4 million mark for riverfront apartments in Brisbane show that there is a market there for purchasers at this price point,” says Grantley.
Director of Pace Projects Bruce Goddard says it’s the right type of project being delivered to the market at the right time.
“The riverfront lifestyle still commands a premium in all areas of Brisbane – but our latest research shows that the south-west precinct – taking in St Lucia – is likely to become the next hotspot for apartment development.
“160 Macquarie hits the mark in terms of its pricing when taking into considering recent riverfront sales, and importantly, the apartments are being made available in two and three bedroom configurations,” says Goddard.
Residents will have access to a 12-metre pontoon, swimming pool, BBQ and entertaining areas.
The development has an expected completion date of 2014.
The original five-bedroom mediterrean-inspired home on the 1,242-square-metre lot was listed through Josephine Johnston-Rowell of Johnston Dixon for $6.95 million in 2009.
The median apartment price in <a target="_blank" href="/news">St Lucia</a> is $471,500, a 9.1% change in the past five years, according to RP Data.</body></html>

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Confidence returning to Brisbane market after $17 million snapped up in 160 Macquarie Tower 

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Italian fashion house Versace has signed a deal to build a luxury hotel at a casino-resort in Macau.
The five star palazzo Versace hotel will be part of the resort casino SJM Holdings Ltd is building in the former Portuguese colony.
Founded by billionaire Stanley Ho, the SJM resort casino will include 2,000 rooms and 700 gambling tables.
It will be the first resort on the Cotai strip for SJM – said to be the Las Vegas strip of Asia.
The Macau hotel will be the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/as-palazzo-versace-sells-check-out-15-global-flashy-fashion-branded-hotels/2012121656738">third Versace</a> hotel globally, with one on <a target="_blank" href="https://www.propertyobserver.com.au/queensland/palazzo-versace-on-the-gold-coast-the-world-first-fashion-branded-hotel-sold/2012121458477">Gold Coast</a> and one still under construction in Dubai.
Macau is the only place in China where casinos are legal.
Commencement and completion dates are yet to be announced.
A <a target="_blank" href="https://www.propertyobserver.com.au/queensland/gold-leaf-ceiling-comes-with-palazzo-versace-gold-coast-condo-with-%2415-million-hopes/2013051461183">three-bedroom condominium</a> in the Palazzo Versace on the Gold Coast was up for grabs in May with a price guide above $1.5 million.
Palazzo Versace's architecture and interiors were designed to reflect the grandeur of the late Renaissance period with marble, granite and mosaics imported from Italy.
Dr Santo Versace, the president of the Versace Group and older brother of the late Gianni Versace, said they went ahead with the project because “when Europeans think of Australia, they only think about holidays. The feeling is that Australia is a country of sun, sea and beaches," he said.
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First the Gold Coast, soon Dubai, and next Macau for the Italian fashion house Versace resort

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The site of a former glass and aluminum fabrication factory in Brisbane’s West End is to become a five-storey apartment development known as The Glass Factory.
Located on Vulture Street, The Glass Factory is designed by Rothelowman White architects and draws on inspiration from West End’s traditional building styles.
Developed by Turrisi Properties, the design will feature profiled metal, cladding and perforated aluminum sliding screens.
“The glass factory captures the essence of West End,” says Turrisi Properties development manager Ben Jobber.
“Guided by the area's diverse past, located near the popular boundary street strip, the glass factory will create residences that feel right in the environment, both inside and out,” says Jobber.
The development will include 47 apartments ranging from one-, two- and three-bedroom.
One-bedroom apartments start from $370,000 and two bedrooms start from $550,000.
Two three-bedroom apartments are priced from $815,000.
Construction is due to commence in early 2014 and has an expected completion date of early 2015.
The official marketing campaign kicks off on September 7.
The median apartment price in <a href="/news">West End</a> is $505,000, a 78.4% change in the past five years, according to RP Data.
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Traditional building styles inspire West End's latest development, The Glass Factory

A four-bedroom home in Northwood with a two-storey boathouse is on the market with a $5 million plus price guide.

Located at 2 Kellys Esplanade, the three-level property features floor to ceiling windows, a swimming pool and landscaped gardens by Good Manors.

The two-storey boathouse features a slipway and a party room or artist studio above.

The property last traded in 2005 for $4.35 million.

Sandra Peach and Tavis Standen of <a href="https://www.raywhite.com/nsw/northwood/1011018/#.Ug26KeBAt6o" target="_blank">Ray White Lane Cove</a> have the listing.

The median house price in <a href="/news">Northwood</a> is $1.66 million, a 14.9% decline in the past five years, according to RP Data.

Northwood home with double-storey boathouse listed with $5 million plus hopes

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The $40 million Paddington Terraces development at Robina has completely sold out – two weeks after construction wrapped up. 
Developed by Robina Group, Paddington Terraces comprises of 82 two- and three-bedroom terraces on The Gardenway.
Paddington Terraces sales manager Azura Griffen says the sub-$500,000 pricing had given the project a broad appeal.
Two-bedroom terraces were priced from $445,000 and three-bedroom terraces started from $469,000.
Apartments feature a private landscaped entertaining area, accessed through glass stacking doors.
“The pleasing pace of sales at Paddington Terraces at Robina has demonstrated growing demand for terrace-style living in central Gold Coast City.
“Location has been a major factor in the project’s success and we found both walkability to Robina Town Centre’s shopping, dining and entertainment precinct and proximity to transport connections to be huge selling points,” says Griffen.
Griffen says the terraces appealed to a range of buyers including empty nesters, first home buyers, young professionals and investors.
The speedy sell out has prompted the developer to bring forward plans for its next residential development in Robina.
“It’s a very positive sign that we are producing the right product in the right location for our buyers and we are keen to build upon this terrific momentum,” says Robina Group director Tony Tippett.
“Our next project will be a modern, freehold terrace home development and has been designed to appeal to a diverse buyer demographic.
“It will take its styling queue from Paddington Terraces at Robina, which has been celebrated for its bold, modern designs, space-efficient layouts and contemporary finishes,” says Tippett.
The median house price in <a target="_blank" href="/news">Robina</a> is $499,500, 10% decline in the past five years, according to RP Data.</body></html>

Speedy sellout of Paddington Terraces at Robina prompts developer's next project

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Olivia Newton-John’s Jupiter Island home is reportedly under contract with comedian Rosie O’Donnell for US$5.6 million.
O’Donnell recently sold her Miami mansion for US$16.5 million.
<a target="_blank" href="https://www.propertyobserver.com.au/news/aussies-keeping-us-realtors-busy-olivia-newton-john-portia-de-rossi-and-frank-lowy/2013062661728">Aussies Abroad reported on the listing in June this year</a>, when the Florida beachfront mansion was listed with a US$6.2 million price tag. 
The Aussie star bought the four-bedroom Jupiter Island home with her hubby and founder of herb company Trivita, John Easterling, in 2009 for US$4.1 million. 
The couple spent approximately US$2 million renovating the property in 2010, which now features hurricane impact-rated glass windows and doors – a necessity for tropical storm laden Florida.
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Olivia Newton-John's Florida mansion under contract to Rosie O'Donnell

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Former West Coast Eagles coach Ken Judge and his wife Annette have splashed out $2 million for a two-bedroom apartment in the North Fremantle Rivershores complex.
Situated on Doepel Street, the $110 million resort-style apartment complex features 58 apartments across two five-storey buildings.
Apartments come with a wine fridge and coffee machine, and residents have access to a gym and swimming pool.
<a target="_blank" href="https://www.acton.com.au/fremantle/index.cfm?pagecall=property&amp;propertyID=2034161" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Bradley Raynor of Acton Fremantle</a> secured the sale.
Developed by Watersun Property, Rivershores features designs by Hassell Architects.
Two- and three-bedroom apartments range in price from $980,000 to $2.03 million.
Rivershores won the best apartment development award in 2012 by HIA and the project of the year award.
Construction of the development was completed in November 2011.
The median apartment price in <a target="_blank" href="/news">North Fremantle</a> is $780,000, a 56.5% decline in the past five years, according to RP Data.
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Former West Coast Eagle's coach Ken Judge splashes $2 million in Rivershores

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The Sunshine Coast’s Minyama has recorded the strongest median house price growth in the region for the past quarter, with a 22% change, according to REIQ.
Minyama’s median value is $864,866, the second highest value in the region, slotting in behind Wootha at $882,534.
Wootha experienced a 6% growth over the quarter.
A <a href="https://www.century21.com.au/property/179763/" target="_blank">three-bedroom home</a> in Minyama sold under the hammer in June for $790,000.
The mortgagee sale offered the potential to be renovated or rebuilt.
Situated on 740 square metres, the property last traded in 2006 for $895,000
Noosaville is the second best performing suburb on the Sunshine Coast, experiencing a 13% growth over the quarter to a median value of $692,395.
Noosaville was also the busiest suburb, with a total of 171 properties sold over the quarter.
The Sunshine Coast’s best performers:
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Median Value
</td>
<td valign="top" width="106">
Qtrly change
</td>
<td valign="top" width="106">
No Sold
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Minyama</a>
</td>
<td valign="top" width="106">
$864,866
</td>
<td valign="top" width="106">
22%
</td>
<td valign="top" width="106">
51
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Noosaville</a>
</td>
<td valign="top" width="106">
$692,395
</td>
<td valign="top" width="106">
13%
</td>
<td valign="top" width="106">
171
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Bokarina</a>
</td>
<td valign="top" width="106">
$542,959
</td>
<td valign="top" width="106">
10%
</td>
<td valign="top" width="106">
19
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Reesville</a>
</td>
<td valign="top" width="106">
$588,850
</td>
<td valign="top" width="106">
9%
</td>
<td valign="top" width="106">
8
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Hunchy</a>
</td>
<td valign="top" width="106">
$558,549
</td>
<td valign="top" width="106">
9%
</td>
<td valign="top" width="106">
7
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Mooloolaba</a>
</td>
<td valign="top" width="106">
$566,136
</td>
<td valign="top" width="106">
8%
</td>
<td valign="top" width="106">
81
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Warana</a>
</td>
<td valign="top" width="106">
$476,531
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
56
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Boreen Point</a>
</td>
<td valign="top" width="106">
$397,490
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
6
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Twin Waters</a>
</td>
<td valign="top" width="106">
$597,025
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
73
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Cambroon</a>
</td>
<td valign="top" width="106">
$408,399
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
1
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Cootharaba</a>
</td>
<td valign="top" width="106">
$516,291
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
9
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Ilkley</a>
</td>
<td valign="top" width="106">
$540,605
</td>
<td valign="top" width="106">
7%
</td>
<td valign="top" width="106">
9
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Shelly Beach</a>
</td>
<td valign="top" width="106">
$768,458
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
13
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Image Flat</a>
</td>
<td valign="top" width="106">
$534,999
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
3
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Balmoral Ridge</a>
</td>
<td valign="top" width="106">
$588,375
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
2
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Eerwah Vale</a>
</td>
<td valign="top" width="106">
$494,814
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
13
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Parrearra</a>
</td>
<td valign="top" width="106">
$533,399
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
84
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Point Arkwright</a>
</td>
<td valign="top" width="106">
$543,227
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
3
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Wootha</a>
</td>
<td valign="top" width="106">
$882,534
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
2
</td>
</tr>
<tr>
<td valign="top" width="106">
<a target="_blank" href="/news">Noosa Heads</a>
</td>
<td valign="top" width="106">
$657,336
</td>
<td valign="top" width="106">
6%
</td>
<td valign="top" width="106">
61
</td>
</tr>
</tbody></table>
The new RP Data information is based a slightly tweaked algorithm using Automated Valuation Models which may slightly differ from numbers in Property Observer's system. 
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Minyama tops Sunshine Coast's best performers list

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Auction volumes are yet to pick up as we edge closer to the spring selling season, with 1,391 auctions across the capital cities scheduled for the coming week, according to RP Data.
Auction volumes slightly increased last week to 1,454, up from 1,441 auctions the previous week.
The clearance rate remains strong at 72.7% last week, up from 70.1% the previous week.
At the same time last year, both the auction volume and clearance rate were substantially lower at 1,116 auctions and a 50.8% clearance rate.
Melbourne auctions are continuing to edge slightly lower for the second week, down from 677 the previous week to 663 last week.
Melbourne is expected to hold 649 auctions this week.
However, Melbourne’s preliminary clearance rate slightly increased from 71% the previous week to 71.6% last week.
At the same time last year, Melbourne’s clearance rate was 53.7% and 522 auctions were held.
Sydney has also dropped slightly in auction listings, with 475 auctions scheduled this week, down from 561 last week.
Sydney held 521 auctions the previous week.
Sydney’s clearance rate also remains strong at 79.7% last week, up from 76.3% the previous week.
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National auction listings linger as spring rush looms

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A five-bedroom Federation-inspired home in Rose Bay is this week’s most expensive sale, selling for $3.8 million under the hammer on August 13, according to RP Data.
Located at 7 Dudley Road, the 697-square-metre residence was listed with $3.5 million plus hopes.
It last traded in 2010 for $4.25 million.
Spread over three levels, the property (pictured below) was built in 1992 and features a wraparound verandah, swimming pool and an indoor Jacuzzi.
{yoogallery src=[images/stories/2013/08/aug20rose]}
The property was sold through Lorraine Crawford of <a target="_blank" href="https://m.dijones.com.au/78727/">Di Jones Real Estate Woollahra</a>.
The median house price in <a target="_blank" href="/news">Rose Bay</a> is $1,825,000, a 9.7% decline in the past five years, according to RP Data.
Rose Bay witnessed a reputed $30 million sale earlier this year, when veteran technology investor <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/rose-bay-secures-third-sydney-harbour-sale-at-%2430-million-or-higher-this-year/2013050661063">Neill Miller sold his Rose Bay mansion</a>.
Most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_dudley_road_rose_bay_nsw_2029/5916696">7 Dudley Road, Rose Bay, NSW, 2029,</a> five-bedroom house, sold on August 13 by Di Jones Real Estate Woollahra for $3.8 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/97_newton_road_strathfield_nsw_2135/6491290">97 Newton Road, Strathfield, NSW, 2135,</a> six-bedroom house, sold at auction on August 17 by Devine Real Estate for $3.22 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_belmore_place_paddington_nsw_2021/5261698">1 Belmore Place, Paddington, NSW, 2021,</a> three-bedroom house, sold prior to auction on August 14 by Di Jones Real Estate Woollahra for $3 million 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/55_tivoli_road_south_yarra_vic_3141/13148732">55 Tivoli Road, South Yarra, VIC, 3141,</a> three-bedroom house, sold at auction on August 17 by Kay &amp; Burton Real Estate South Yarra for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_moorhouse_street_armadale_vic_3143/9319139">17 Moorhouse Street, Armadale, VIC, 3143,</a> three-bedroom house, sold at auction on August 17 by Kay &amp; Burton Real Estate South Yarra for $2.53 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/25_clifton_street_richmond_vic_3121/12731484">25 Clifton Street, Richmond, VIC, 3121,</a> three-bedroom house, sold at auction on August 17 by Jellis Craig Bennison Mackinnon Richmond for $2.49 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/68_bryson_street_canterbury_vic_3126/10253740">68 Bryson Street, Canterbury, VIC, 3126,</a> four-bedroom house, sold at auction on August 17 by Jellis Craig Real Estate Hawthorn for $2.25 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/19_scales_parade_balgowlah_heights_nsw_2093/1231366">19 Scales Parade, Balgowlah Heights, NSW, 2093,</a> five-bedroom house, sold at auction on August 17 by Cunninghams Property Balgowlah for $2.228 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9_loller_street_brighton_vic_3186/10014535">9 Loller Street, Brighton, VIC, 3186,</a> three-bedroom house, sold at auction on August 17 by Marshall White Real Estate Brighton for $2.03 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/47_alpha_road_willoughby_nsw_2068/16256781">47 Alpha Road, Willoughby, NSW, 2068,</a> four-bedroom house, sold on August 15 by Savills Sydney for $2 million
 
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Rose Bay residence this week's most expensive sale: 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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

Joel Robinson

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

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