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It is becoming more common for generation Y to move to inner city or CBD areas and purchase properties using their family’s home equity, according to founder of Sydney-based Dream Design Do, buyer's agent Zaki Ameer.
“Upon finishing their studies, young adults find that their place of employment is located in the CBD, as well as all the amenities they want to access, such as nightlife, entertainment, and retail offerings,” says Ameer.
“In Sydney, these locations are typically the eastern suburbs and the inner city, and in Brisbane its Newstead and Fortitude Valley.”
“Property is priced way outside of capabilities of the salary of a career starter, so purchasing a property in the desired location of these Gen Y’s is impossible.”
This is forcing young people to draw on their family home equity which is becoming one of the easiest pathways for young people to tap into the property market, said Ameer.
“In many cases, the family home is already paid for, which creates substantial security when applying for the loan”.
“Provided the youngster is gainfully employed, purchasing in the area where it’s all happening is right within his/her foreseeable future.”
According to Ameer this option was not possible for past generations. The parents of today are likely to work longer and are not keen on downsizing or moving to a retirement complex for some years.
“Their parents do not see themselves as old, and therefore are in no hurry to sell the family home. They don’t want to live among retired people or senior citizens, and more than likely are perfectly happy in the family home surrounded by families and young people.”
Ameer said parents could use their children’s move to the city as an investment opportunity.
However, if parents aren’t in a position to draw down on their equity another option is renting which Ameer says is costly but manageable.
If renting is also too expensive and they are still keen to enter the property market, they may purchase a property in a cheaper area, and then work on building equity on that property so that they can buy in their target area in the future.
According to Ameer, another option is taking up employment in a different city where property and living cost is cheaper.
“In their 20s, they probably do not have a lot of personal responsibilities, and are more easily able to relocate,” he said.
“They will see it as an adventure; to work and live in another state than where they grew up, and also often take the opportunity to establish themselves when they are there, by purchasing property that is now affordable for them.”
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Young buyers leveraging family home equity to afford inner city purchases: Buyer's agent

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Quantity surveyors Washington Brown are warning investors not to get carried away with that holiday feeling this summer.
Over the holiday period many investors can fall into the romance of owning their own private get away. But Washington Brown says to tread carefully.
Holiday properties can be an enticing investment. Victoria’s coastal town of <a href="/news">Torquay</a> has a median house price of $617,000 and a median rental price of $400 per week, according to Core Logic RP Data.
Washington Brown says when buying a property, the ‘we have got to have it and we will make it work’ compulsion is natural. After purchase costs such as renovations and furnishing can build up and before you know it, you may have spent over $1 million on your new holiday property.
Quantity surveyor and depreciation expert Tyron Hyde says that there are way around spending a lot of time and money on holiday properties.
“Holiday houses can be depreciated if they are rented out to a third party,” said Hyde.
This stops you from staying at the house whenever you want.
“As long as it’s available for rent most of the year you can block out a two week period over Christmas and claim the depreciation pro rata,” Hyde said.
“You are still entitled to that deduction regardless of how many weeks the property is actually rented out as long as it was available for the full 50 weeks.”
“I’m seeing many clients buy holiday homes at close to, or less than the construction cost and if you furnish your holiday home, you’ll magnify the deductions.”
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Beware the summer holiday home investment: Washington Brown

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Every year body corporates have to deal with property damage as a result of schoolies, and mitigating these damages is proving to be difficult.
This year Strata Match has received a flood of calls from apartment owners on what restrictions they can place on schoolies to prevent damages. Whatever preventatives they use, Strata Match warns that it must be lawful and applies to all tenants under the Body Corporate and Community Management Act 1997.
The Act states if a lot may be used for residential purposes, the by-laws cannot limit and confine the type of residential use.
This means that different by-laws cannot be made for schoolies if they aren’t imposed on other residents. For example imposing a minimum stay to prevent schoolies from actually renting a unit is unlawful.
Strata Match says the Act also prevents the body corporate from taking action, such as locking balcony doors. However, they do have control over things such as time restraints on the use of amenities, and whether or not glass, music or alcohol is allowed.
Although, if these changes are made they cannot be subject to schoolies week nor can they be exclusive to schoolies goers.
As stated by Fair Trading, all guests should be treated the same way. Any rule or condition that you impose should apply to all guests and should be compulsory for the whole year. This is the same with the bond price. 
 
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Schoolies making it harder for body corporates to protect themselves

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Kulangoor’s big cow has been officially handed over to new owners for the first time in 14 years.
The icon is among the 150 ‘BIG’ things scattered across Australia that make up some of the country's most loved attractions, from the Big Banana in Coffs Harbour to the big boxing crocodile at Humpty Doo.
The spotlight has been thrown on the Big Cow with its sale being confirmed earlier in the week.
ONE Agency Noosa principal Grant Baker said a successful marketing campaign was the driving force behind the sale.
“The team at ONE Agency Noosa has worked diligently to create an outcome where both buyers and sellers are happy,” Grant said.
The property was first designed as the Country World tourist attraction. It had a working dairy farm with Ayrshire cows. Visitors could learn firsthand how dairy farms were run.
The property was last sold in 2000 and was run as The Outdoor Centre for years. Owners then transformed it into the Nambour Regional Training Centre.
Since then the training centre has been leasing out its facilities to companies across Australia. Tenants include marines and mining and disability industries.  
Over the past 14 years the big cow has became synonymous with the property. Sculpted by Hugh Anderson, who also did the big bulls at Rockhampton, the big cow is an exact replica of an Ayrshire cow, only seven times bigger.
The big cow also became home to Sunshine Coast’s first sea and air rescue helicopter, with the old helipad on site.
The complex has 70 parking spaces and has easy access off and on the Bruce Highway. 
Picture: Stuart Edwards/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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Queensland’s Big Cow icon sold after owners decide to moo-ve on

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A new online partnership has formed between reiwa.com and houseandland.com.
Reiwa.com unveiled the ‘House &amp; Land’ section last month following the announcement of the joint venture.
The new addition to the re-launched website will assist investors looking online for new-build packages.
Chief executive officer at REIWA Neville Pozzi says: “This new initiative helps us deliver on our promise to be the number one destination for everything WA real estate, providing buyers who are looking to build with a one-stop solution.”
The House &amp; Land feature gives access to the top land estates, building designs and vacant land. It also has a patented ‘matching’ technology for buyers who are looking to build. The application will find what block will match their house.
Director of houseandland.com.au Mark Shearer said: “It helps bridge the disconnect for consumers between house and land by simplifying the overall difficulty in creating a package.”
“Users can now view a comprehensive list of building designs from over 30 builder brands in WA removing the need to spend weekends driving all  over the state looking for the perfect fit.”
The website is set for more features in the years to come.
“We are really excited to be partnering with houseland.com.au. This is a space in real estate we haven’t traditionally had much involvement in, so it’s opening doors for us to engage with new segments of the market and get them on board,” said executive manager of reiwa.com Lisa Ravlich.
  
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REIWA partner with listings website for new online feature

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The results from the CoreLogic RP Data and Nine Rewards survey reveals increasing home buyer confidence in the housing market, according to Property Week.
The September quarter showed 66% of people surveyed thought it was a good time to buy property, even as home prices continue to rise in capital cities.
The results reflect a drop from the June quarter, where 71% said it was a good time to buy.
“Most respondents still felt as if it is a good time to buy property, although with the current growth period having run for so long, it isn’t a surprise to see a slight fall in the proportion of respondents who think now is a good time to buy,” said Cameron Kusher RP Data’s senior research analyst.
The survey showed varied results between states and even differences within states themselves.
State by state results on the percent of keen buyers.:
<ul>
<li>Tasmania- 100%</li>
<li>South Australia (outside of Adelaide)- 80%</li>
<li>Queensland (outside of Brisbane)- 79.1%</li>
<li>Western Australia (outside of Perth)- 75.9%</li>
<li>Brisbane- 73%</li>
<li>Perth- 69%</li>
<li>Adelaide- 68.3%</li>
<li>Victoria (outside of Melbourne)- 66.7%</li>
<li>ACT- 65%</li>
<li>Melbourne- 64.5%</li>
<li>New South Wales (outside of Sydney)- 63.3%</li>
<li>Northern Territory- 60%</li>
<li>Sydney- 52.8%</li>
</ul>
Source:  CoreLogic RP Data and Nine Rewards survey
The survey also asked if Australia’s housing market was vulnerable to a significant correction.
68% of people surveyed believed there may be a correction, the highest reading the survey has received. 
Property prices continue to rise throughout Australia. Apart from Perth, price growth was experienced in all capitals in the September quarter.
The national figure shows 68% of people think the market is vulnerable to a significant price correction.
“Interestingly, respondents from areas where values have seen minimal growth over recent years were most inclined to think a significant correction was a possibility,” the report said.
Percent who think the housing market is vulnerable to a significant correction in values:
<ul>
<li>South Australia (outside of Adelaide)- 85%</li>
<li>New South Wales (outside of Sydney)- 74.4%</li>
<li>Brisbane- $70.8%</li>
<li>Tasmania- 70%</li>
<li>Western Australia (outside of Perth)- 69%</li>
<li>Sydney- 68.6%</li>
<li>Melbourne- 67.3%</li>
<li>Victoria (outside of Melbourne)- 65.1%</li>
<li>ACT- 65%</li>
<li>Queensland (outside of Brisbane)- 64.8%</li>
<li>Perth- 62%</li>
<li>Adelaide- 61.7%</li>
<li>Northern Territory- 60%</li>
</ul>
Source: CoreLogic RP Data and Nine Rewards survey 
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Home buyer confidence remains high as 68% believe price correction ahead

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Darwin property prices may have fallen over the September quarter, according to CoreLogic RP Data, but one local agent believes the market is well placed to come roaring back in 2015.
In the three months to 31 October, Core Logic RP Data information shows a 1.7% drop in the Darwin median price.
The large amount off the plan settlements has deterred buyers and investors form the market, according to general manager of Raine and Horne Darwin, Glen Grantham.
But, Grantham says the underlying fundamentals are strong and the market won’t spike until the middle of 2015.
“We have an election in late 2015 and already the NT government is starting to make announcements that will drive stronger business activity and consumer confidence,” he said.
One of the major upcoming announcements is the tender for the North East Gas Interconnector, a gas pipeline linking the Northern Territory with the east coast gas grid.
Grantham says the smart buyers will get in early and find some bargains before the market starts to generate strong growth.
“The smart money is currently buying properties in inner CBD suburbs such as <a href="/news">Stuart Park</a> and <a href="/news">The Gardens</a>,” he said.
“In The Gardens, entry-level, two-bedroom apartments start from $450,000, which are generating weekly rents of $550. This is a very healthy 6.4% gross yield, with the prospect of decent growth to come.”
<a href="/news">Woolner</a>, with a current median unit price of $620,000,<a href="/news"> </a>is another market which Grantham says is due for a spike.
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Darwin property prices fall, but rebound could be on the cards

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Smart Blocks, a company focused on improving the energy efficiency of apartment buildings, has received the Contribution to Sustainability Award for a Community Organisation at this year's Melbourne Awards.
Smart Blocks was created in partnership with Strata Community Australia (SCA), City of Sydney, City of Melbourne, Owners Corporation Network of Australia and Green Strata, and received funding from the Department of Industry as a part of the Energy Efficiency Information Grants Program.
Smart Blocks provides an online toolkit that gives owners and managers the steps needed to save energy on their apartment blocks common areas. The toolkit allows users to register their building, build a business case, identify the projects that will improve their energy efficiency, and prepare a case for implementation.
There are several projects on offer which include, lighting upgrades, heating and cooling, ventilation and solar options.
According to Smart Blocks, residents of high or medium density blocks use 25% more energy than those in detached dwellings with up to 50% of this energy usage coming from coming common areas such as hallways, car parks and swimming pools.
SCA's chief executive officer Kim Henshaw said that strata communities in Melbourne that use the smart blocks projects will reap big savings.
"It can often be hard to make energy efficient changes in residential strata buildings for many reasons such as the frustration of trying to retrofit an old building with new power saving technologies, the difficulties of collective decision-making and the complexity of navigating codes and by-laws,” said Henshaw.
“Smart Blocks takes care of these challenges, providing a clear and easy way for owners and managers to create a more sustainable and energy efficient building," says Henshaw.
Henshaw believes these kinds of initiatives are perfect for the changing residential landscape in, with nearly a quarter of the population living in strata dwellings and the figures continuing to grow every year.
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National energy efficiency program recognised with sustainability award

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New home building in NSW is tipped to top the 50,000 in 2015, according to a report from the Housing Industry Association (HIA).
The predictions, in the spring 2014 edition of the HIA’s New South Wales Outlook, come off the back of a strong 2014, where dwelling commencements are expected to have increased by 9.5%, following a 31.7% rise in 2013. The HIA says a further growth of 4.5% is expected in 2015, bringing commencements up to 50,800.
“We have been pleasantly surprised by the performance of new home building in NSW, with activity on track to exceed initial expectation over the next 12 months,” said HIA executive director, NSW, David Bare.
“NSW’s $7.9 billion home renovations market is likely to reap the rewards of robust dwelling price growth and record low interest rates.
“Activity on this side of the market has fallen steadily over the past decade but the recovery currently underway is likely to lift activity by a cumulative 25 percent or so.”
Home renovations in the state are also expected to increase in 2014 and 2015 by 8% and 3.9%, respectively. In two years the HIA believes home renovation to reach $8.43 billion.
Bare says that despite the improved levels of new home building, the NSW government still needs to open up more land for residential use and create a simpler planning regime. 
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NSW tipped to top 50,000 new home starts in 2015

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Oliver Wisniewski

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