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Wayne Lasky, Co-Founder and Managing Director of MaxCap Group has announced the appointment of high profile non-executive director Christian Christian AO to the MaxCap Board.
In welcoming Ms Christian to the Board, Mr Lasky said Ms Christian has an extensive 30-year track record together with outstanding experience in financial services.
“Christine is recognised in the marketplace as a leading Australian company director and chairperson, investor and entrepreneur. Her sector experience in financial services, private equity, investment and credit risk management in particular perfectly complements the strength of our existing team,“ said Mr Lasky.
 Ms Christian is currently serving on a number of other high profile boards in both Australia and the United States.
In taking up the position as a MaxCap Group director, Ms Christian said: “It is an absolute honour to join the Board of MaxCap Group. The company has a market leading reputation for creating lasting value for its clients."
"I am pleased to be involved with MaxCap, their culture is innovative, relationship focused and the business is on an exciting growth trajectory.”
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j.ballantyne1990-6AQqhLzZaK

Christine Christian AO joins MaxCap's Board

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While the full effect of COVID-19 on the property market will take months to become clear, Herron Todd White's latest report found current evidence is showing that the predicted deterioration has just not occurred within the Newcastle area.
HTW valuer Liz McAllister said local builders are confirming that their work pipelines are remaining strong after a dip at the beginning of the pandemic. This has largely been due to to government support in the form of the HomeBuilder Grant.
"We have seen an increase in the price of vacant land within larger land developments with developers looking to capitalise on the grants," she said.
Despite some of the grants being also available for apartments, HTW is not as positive about the apartment market.
It warns owner occupiers and investors that new properties are very frequently being sold at prices exceeding their resale value.
It suggests there is an oversupply in the rental vacancy situation with overall demand for units deemed "soft."
These investment opportunities are the 41 ongoing or new residential developments on Apartments.com.au. 
In their August report HTW noted that whilst buyer uncertainty has not stopped investors purchasing property, the volume of quality houses on the market has not fully recovered but was on its way up.
"Property prices in Newcastle and Lake Macquarie rose ever so slightly in the last three month period even with the region shedding 24,000 jobs," the HTW valuer's said.
It was highlighted that agents have noted that investors from outside of the region are showing interest in purchasing investments. 
Major investment in infrastructure is under way including the newly revealed concept design for the seven-storey Acute Services Building for John Hunter and John Hunter’s Children’s hospitals.
Premier Gladys Berejiklian said the $780 million John Hunter Health and Innovation Precinct would drive significant economic growth in the Greater Newcastle region.
“John Hunter hospital is one of the busiest hospitals in NSW and this investment will provide enhanced health facilities ensuring the region has a world-class hospital to cater to its growing population,” Ms Berejiklian said.
“Construction of the precinct will support more than 3,000 jobs over the life of the project helping stimulate the economy, a key component of the NSW Government’s COVID-19 recovery plan.”
Early works on the new Acute Services Building are expected to commence in 2021 with main works construction scheduled to commence in 2022.
Observing the Newcastle commercial market, the workplace is described as pivoting as business leaders are seeing a reduction in business costs with staff working from home and for many this arrangement has become permanent.
Herron Todd White noted that companies are utilising less office space and using only meeting rooms and boardrooms, while hot desking and part time office use is becoming the norm.
However it did note this trend had yet to fully take hold in Newcastle.
"We see vacancy rates in some sectors rising in coming years as leases expire," Director Ed Thwaites said.
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$780 million John Hunter hospital plans revealed amid continuing Newcastle construction

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Three prime Melbourne CBD and St Kilda Road car park investments have come to the market, offering a rare chance to purchase assets within the sector.
Fitzroys agents Paul Burns and Chris James are marketing the three assets for the Deague family which are being offered for sale by EOI “in one line or separately”., and a total net income of more than $2.045 million per annum.
The assets include: 
1 Queens Road (pictured in title), comprises six levels of car parks with 523 bays (650 when stacked), plus 61 storage units within the 14-level office and residential building, St Kilda Rd Towers.
 <img>
 
452 St Kilda Road (pictured above, comprises three levels of car parking with 80 bays, plus three storage units, within a 21-level hotel and serviced apartments building.
480 Collins Street (pictured below), offering a generational chance to secure the only car park in the Melbourne CBD that has direct access from Collins Street. The asset comprises two levels of car parking with 74 bays (110 when stacked), within a 20-level office and hotel building located in the new centre of Collins Street.
Each asset is being offered with a long-term lease in place.
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The tenant has operated a profitable car parking business in each premises over many years. “Commercial car park investments are likely to be particularly strong post-COVID. Employees will inevitably prefer driving to work as opposed to using public transport, and employers will secure parking bays to accommodate this preference,” Burns said.
“The tenants in these assets have committed to not seek any rent relief as a consequence of the COVID-19 situation, guaranteeing the purchaser a 100% return on their investment, without interruption. The secure lease agreements offer no vacancy risk for almost six years, and, if or when a lease expires, there are negligible re-leasing costs.”
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Three Melbourne CBD car park investments listed

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The capital gains tax for granny flats is to be scrapped next year following last night's Federal budget.
From July 1 2021, a homeowner will no longer have to pay capital gains tax where there is an agreement for a family member to reside in their home.
"It will not apply to the creation, variation or termination of a formal written granny flat arrangement providing accomodation for older Australians or people with disabilities," King&amp;Woods Mallesons advise.
"This change will only apply to agreements that are entered into because of family relationships or other personal ties and will not apply to commercial rental arrangements."
The removal of the tax is still subject to legislation passing Parliament.
The exemption will effect around 3.9 million pensioners and around four million Australians with a disability, according to the AFR.
"Under the measure, CGT will not apply to the creation, variation or termination of a formal written granny flat arrangement providing accommodation for older Australians or people with disabilities," Mr Frydenberg said.
"When faced with a potentially significant CGT liability, families may opt for informal arrangements which can leave open the risk of financial abuse and exploitation, for example following a family or relationship breakdown." 
 
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CGT exemption for granny flats under 2021 budget

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A penthouse in the Harrington Collection, the luxury off the plan development in The Rocks precinct in Sydney, has hit the market with a $39.8 million price tag.
The Harrington Collection by Hannas and Golden Age Group is one of the only residential projects to have gained government approval in the precinct in the last eight years.
Designed by Australian design studio Francis-Jones Morehen Thorp, the four-bedroom penthouse boasts a total area of 485sqm.
Of the 485 sqm, 140 sqm is a dedicated rooftop terrace with views of the Harbour Bridge and Opera House.
The apartment's kitchen features a butler's pantry and a stone island bench. 
In the apartment is a wet bar, spa, fireplace and movie room.
Laver Residential’s Dennis Vertzayias and Sam Elbanna <a href="/buildings/the-harrington-collection-75-85-harrington-street-the-rocks">are marketing the apartment</a>.
“The architectural design and quality of the finish represents a once-in-a-lifetime opportunity”, Vertzayias said.
The project includes more than 1,000sqm of commercial office space, as well as eight retail and hospitality spaces.
Both local and offshore interest is expected for the luxury residence.
The property is due for completion in mid-2021.
For the Harrington Collection brochure, click here.
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Near $40 million dollar penthouse in Sydney's The Rocks listed

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New research has revealed more than 1 in 2 Aussies think property is the most secure and profitable long-term investment, compared with shares, gold, cash and fixed interest.
So much so, that 41 per cent would invest it within their superannuation if they met the criteria. But will it continue to perform better than shares post-pandemic?
The findings come from a survey of an independent, nationally representative panel of 1006 Australians commissioned by online finance information platform Money.com.au. 
Forty-two (42) per cent of Aussies said property is the best avenue for long-term return on investment, followed by a third (32 per cent) who believe shares will provide the best returns. An equal nine per cent think gold and cash are the best investments, and eight per cent think fixed interest such as government or corporate bonds is the best avenue for investing money long term.
The extent to which Aussies feel property will continue to perform strongly is in the high proportion: (41 per cent) that said they would consider investing in direct property – such as a residential apartment – in a self-managed super fund (SMSF).
When asked what types of property respondents would be most interested in investing in their SMSF, the majority of respondents (66 per cent) said residential houses, 39 per cent said residential apartments, and 34 per cent said commercial property.
In Australia, direct property accounts for 15 per cent of SMSF asset allocations.
“The survey findings indicate that Australians are still confident in investing in our property market, despite the swaying effects of the pandemic. Our property market has shown resilience over the past six months, with house prices not falling nearly as low as experts had predicted at the start of the shutdowns. This high level of confidence is also echoed in the fact that many would invest in property within a self-managed super fund to fund their retirement. However, not many people know how to establish a self-managed fund," Helen Baker, licensed financial advisor and spokesperson at Money.com.au said.
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Aussies vote property as most secure and profitable investment: Money.com.au

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R.Iconic, an inner-city South Melbourne apartment block developed by R.Corporation, has secured more than 150 off-the-plan sales during Melbourne's various lockdown stages.
In the past fortnight to the 8th of October, they secured a further $10 million in apartment sales.
The 456 apartment complex at 253-273 Normanby Road has been targeting first home buyers, with the addition of the HomeBuilder Grant seeing homebuyers able to get on the ladder for $30,000.
It is the only project within Melbourne's CBD fringe area to qualify for the HomeBuilder Grant, in an area emerging dubbed CBD South, between Southbank and South Melbourne.
<img src="https://www.urban.com.au/images/2020/10/7/Screen%20Shot%202020-10-07%20at%2010.33.08%20am.png" alt="">
One bedroom, one bathroom apartments in the complex, <a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">which is slated for completion in December 2022</a>, starts at $507,000.
The two bedroom apartments start from $722,500 without parking, and three bedroom start at $1,092,500.
Residents will have access to the extensive onsite facilities including a swimming pool, podium garden and 300m infinity running track on the rooftop.
The project also features a wine vault, garden pavilions for private dining and water views.
<img src="https://www.urban.com.au/images/2020/10/7/Screen%20Shot%202020-10-07%20at%2010.32.56%20am.png" alt="">
The building is connected to the CBD by light rail, as well as the Crown precinct and the arts precinct.
Colliers International is marketing the property.
Established in 2000, R.Co is an Australian-owned real estate developer who have built a portfolio spanning nearly 30 buildings approaching $2 billion in value.
One of their latest projects is four mid-rise buildings known as <a href="/buildings/the-york-8-olive-york-way-brunswick-west?utm_source=PropertyObserver">The York</a>, located at 8 Olive York Way in Brunswick West.
 
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South Melbourne's R.Iconic the only Melbourne CBD development to offer HomeBuilder Grant

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Rooville, a solid pale-brick home sitting on 6.5ha bushland in Lyonville, Victoria has hit the market with $1.85 million to $2 million hopes.
The postmodern style home at <a href="https://www.realestate.com.au/property-house-vic-lyonville-134378954" target="_blank">121 Frith Mill Road </a>features curved roof line, exposed internal timber pillars and exposed brick walls. 
The home offers centrally located open plan kitchen and lounge/dining with Ned Kelly woodier heater. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/lyonville%202.jpg" alt="">
The master suite with ensuite opens onto an east-facing deck with lake views. 
At the opposite end of the house, there are two additional bedrooms, bathroom and laundry or wet room.
There is a lakeside studio with loft bedroom and kitchenette. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/lyonville%203.jpg" alt="">
Additional features of Rooville include triple carport, woodshed, vegetable garden with berries and rainwater tanks. 
It is located close to the popular tourist towns of Daylesford, Trentham, Kyneton and Woodend. 
Kim McQueen and Robert Broadhurst of McQueen Broadhurst Real Estate Kyneton &amp; Dylesford have the listing. 
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Lyonville trophy home on 6.5 ha bushland listed

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A Hawthorne riverfront home with 360 degree views of the Brisbane city skyline has hit the market. 
The 2,110 sqm site at <a href="https://www.realestate.com.au/property-house-qld-hawthorne-134248634" target="_blank">154 Virginia Avenue</a>, boasting a 27m river frontage with private pontoon, was originally owned by a former Brisbane Lord Mayor, Clem Jones. 
It was traded in 1985 when bought by flamboyant entrepreneur James Penny, who commissioned the five level home.
The current owner doctor, athlete and games designer Peter Hates has just completed a renovation. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/hawthorne%202.jpg" alt="">
It comprises five bedrooms in three separate wings, open living spaces, games and entertainment zone and five bathrooms. 
The home also features tennis court, riverside pool area with its own sandy beach, self-contained cabana, and rooftop terrace. 
There is latest smart home technology including an up to date Savant Pro system and six separate music zones throughout the house.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/hawthorne%203.jpg" alt="">
Located just 4km from the Brisbane CBD, the home is within close proximity to riverside parks, cafes, restaurants and cinema. 
Dwight Ferguson and Khaela Hawes of Ray White Ascot have the listing. 
The expressions of interest campaign for the property closes September 24. 
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Hawthorne riverside home with private beach hits market 

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A single level residence designed by the vendor family in Kew, Victoria has hit the market with $3 million hopes. 
The five bedroom, two bathroom home is situated at<a href="https://www.realestate.com.au/property-house-vic-kew-133565354" target="_blank"> 52 Mary Street</a>. 
It was built in 1999 by a European builder. 
The home offers open plan kitchen and living area, paved garden and extra lounge space. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/kew%202.jpg" alt="">
It also features grand dining, high ceilings, German electronic external shutters and double garage. 
Nestled on a 659sqm block, the home is within close proximity to schools, transport, restaurants and parks. 
Julia Verdiants and Anton Zhouk of Anton Zhouk Boroondara have the listing. 
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Kew trophy home hits the market with $3 million hopes

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

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The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

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Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

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While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

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"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

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Staff reporter

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