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Savills Australia has increased its Occupier Services division, welcoming a new director into the NSW team.
Katherine Moss (pictured below) joins Savills from JLL, where she spent eight years between the Perth and Sydney tenant representation teams. 
She will now lead Savills’ Sydney team, focusing primarily on representing commercial-based tenants. 
<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/2019/2/12/Katherine-Moss--2.jpg" alt=""> 
Savills national head of Occupier Services, Mark Smith, said, “recruiting Katherine provides for a stronger presence within our Occupier Services division, and she will play a pivotal role in delivering a high level of leadership and management within the team."
Ms Moss described Savills as an “agile” agency that maintained a strong Australian reputation with global elements. 
“Savills will provide me with the ability to deliver a tailored business approach and high-quality service to each client,” she said.
“I am looking forward to leading a dynamic team and further establishing solid client relationships in order to build and develop the national division further.” 
 “The occupier services division continues to grow its market presence and we look forward to delivering strategic real estate solutions to existing and new clients alike,” Mr Smith concluded. 
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j.ballantyne1990-6AQqhLzZaK

Savills Australia improves NSW team with new Commercial Tenancies director

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The home of The Little Grocer in Armadale has been listed for auction.
Gray Johnson's Brett Simpson will offer the freehold property at 59A Armadale Street on Wednesday 27 February onsite at 1 pm. 
Set across two levels the 54 sqm property should attract offers in the mid $700,000 bracket, according to Gray Johnson's Brett Simpson.
The property currently leased to The Little Grocer at an annual rental of $30,367 net plus GST until March 2021.
Brett Simpson said “The Little Grocer uses the street level as a retail food store with offices above."
“The location here is critical as this property is directly opposite and only about a fifty metre walk from one of the two principal access ways to the Armadale Station."
“The immediate area is a high value residential location, including many apartment dwellers within walking distance, with High Street and the Orrong Road junction and the surrounding cafes, service businesses and retailers and two major new high rise quality residential developments is barely 200 metres to the north," he concluded.
<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/2019/2/12/GJ%2059A%20ARMADALE%20LG%20INTERNAL.jpg" alt="">
 
It has a street frontage of 3.1 metres.
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Home of The Little Grocer in Armadale going under the hammer

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The gloom around the around Gladstone land market could be showing signs of lifting, with an uptick in sales volume and limited new supply giving opportunity for existing stock to be absorbed offering positive signs, according to Ray White.
Ray White’s Head of Research Vanessa Rader said there has been much-needed downward momentum regarding the advancement of new development of vacant land over the last five years.
“This slow addition of stock has been welcomed by the local market with the need to absorb these existing high stock levels,” Ms Rader said.
“The Gladstone LGA has a further 1,520ha of broadacre land suitable for land subdivision which could yield over 8,000 new lots.
“Data collected by Ray White Commercial shows there are currently over 400 lots registered and available for sale, with a further 300 completed, but yet to be registered.
“This high volume of available stock coupled with the slow sales rate has taken a toll on the median values achieved for both vacant land, and house and land packages in the region.”
<a href="https://www.propertyobserver.com.au/images/2019/2/12/gladstone%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/2/12/gladstone%201.jpg" alt="">   Ray White Commercial Gladstone Director Andrew Allen said vacant land sales and limited lot approvals and lot registrations in the past 12 months have offered much-needed positivity to the market.   “It's encouraging to see lot registrations and lot approvals are down on five and 10-year averages, giving the market time to continue to recover,” Mr Allen said.
<a href="https://www.propertyobserver.com.au/images/2019/2/12/gladstone%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/2/12/gladstone%202.jpg" alt="">   “Positivity really lies in the vacant land sales, where we saw a total of 148 over the past 12 months, showing an increase of 55.79 per cent.   “The slowdown in approvals and registrations is key to not further flood the market with stock, also encouraging is the median lot size has again rebounded to 861sq m.   “This reversion back to larger lots is more in line with local demand which is in the 800-1,000sq m size range.   “With the bulk of lots currently on the market in the sub 600sq m size range, we’re seeing more buyers investigating the idea of purchasing two lots side by side, to amalgamate into a larger land parcel.   “This changing trend could attribute to the increase in vacant land sales in the 2017/2018 period. These are the first signs of improvement for many years for the region.”
<a href="https://www.propertyobserver.com.au/images/2019/2/12/gladstone%203.jpg" target="_blank">Click here</a> to enlarge:  
<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/2019/2/12/gladstone%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/2/12/gladstone%204.jpg" target="_blank">Click here </a>to enlarge:
<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/2019/2/12/gladstone%204.jpg" alt="">
*Ray White Between the Lines Commercial Research – Gladstone LGA Vacant Land Report – January 2019.
<img src="https://www.urban.com.au/images/2019/2/12/Gladstone%20lot%201.JPG" alt="">
An example of a recent vacant land sale in Gladstone is <a href="https://www.realestate.com.au/property/5-stewart-st-west-gladstone-qld-4680?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">5 Stewart Street, West Gladstone</a> (pictured above).
The 450 sqm block sold for $62,500 in November 2018.
It previously sold for near triple that amount, $170,000, in 2010.
<img src="https://www.urban.com.au/images/2019/2/12/Gladstone%20lot%202.JPG" alt="">
Another West Gladstone land sale took place in November, <a href="https://www.realestate.com.au/sold/property-residential+land-qld-west+gladstone-202253962" target="_blank">5 Murray Street</a> (pictured above).
The vacant 1,397 sqm block sold for $67,000
Last sold in 2017 for $54,890 it is a fully fenced block.
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Uptick in sales volume in the Gladstone residential land market

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GUEST OBSERVATION
The <a href="https://www.theage.com.au/national/victoria/same-as-grenfell-tower-cladding-fears-as-fire-rips-through-melbourne-cbd-apartment-building-20190204-p50vgl" target="_blank">fire at the Neo200 building</a> on Spencer Street in the Melbourne CBD this week has eerie similarities to the <a href="http://theconversation.com/grenfell-a-year-on-heres-what-we-know-went-wrong-98112" target="_blank">Grenfell Tower disaster</a>. Fortunately, instead of 72 people dead as at Grenfell, only one person was hospitalised for smoke inhalation.
Nevertheless, the building industry has responded straight from the Grenfell song sheet. Rydon, the main contractor for the Grenfell Tower cladding, <a href="https://www.itv.com/news/meridian/update/2017-06-15/statement-from-rydon-after-public-inquiry-announcement/" target="_blank">said</a> the work: "… met all required building regulations – as well as fire regulation and Health &amp; Safety standards – and handover took place when the completion notice was issued by Royal Borough of Kensington and Chelsea building control."
Rydon chief executive Robert Bond <a href="https://www.theguardian.com/uk-news/2017/jun/15/experts-warned-government-against-cladding-material-used-on-grenfell" target="_blank">said</a>: "I will do all I can to assist in this investigation in order to establish what caused this tragedy."
The Neo 200 architect, Hayball, <a href="https://architectureau.com/articles/cladding-back-in-the-spotlight-after-melbourne-apartment-tower-blaze/" target="_blank">stated</a>: "Neo 200 achieved certification and approval from the building certifier and relevant authorities at the time. We welcome the opportunity to support any investigation into the incident by authorities."
This appears to be the property sector’s version of “thoughts and prayers”. We’re very sorry, but there’s nothing we can do.
Sadly, this is far from the truth. We have known of the risk for years and the problem can be rectified.
Governments must act to ensure the cladding identified as a fire risk on hundreds of buildings is replaced. Further delay in fixing an identified threat to life is unacceptable.
Before the Grenfell and Neo200 fires, Melbourne had a cladding fire at the <a href="https://www.theage.com.au/politics/victoria/docklands-owners-sue-for-24m-over-fire-as-date-to-fix-cladding-looms-20180909-p502pc" target="_blank">Lacrosse building</a> in 2014. This led to an <a href="https://www.vba.vic.gov.au/media/latest-news/article/2016/vba-releases-external-wall-cladding-audit-report" target="_blank">audit of external wall cladding</a> on buildings by the Victorian Building Authority.
Following the Grenfell fire, states conducted further audits. In October 2018, an <a href="/news">update</a> by the <a href="https://www.vba.vic.gov.au/cladding/victorian-cladding-taskforce" target="_blank">Victorian Cladding Taskforce</a> stated: "Our investigations found dangerous materials are widely used on buildings throughout Victoria, a finding that is consistent with inquiries carried out interstate and internationally."
We now know that hundreds of residential buildings are rated as either a moderate or high risk by the New South Wales and Victorian governments. Over 350 buildings in Melbourne alone are rated “high risk”. Neo200 was regarded as only a “moderate risk”.
Residential buildings are particularly vulnerable to the effects of a cladding fire because people can be asleep and windows are often left open. The amount of smoke generated by the recent Neo200 fire is frightening.
<iframe src="https://www.youtube.com/embed/NStPd-v42mY?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Combustible cladding allowed the fire to spread rapidly up the Neo200 building.
In the UK, the central government has given local authorities the power to replace risky cladding. We should do the same here.
Governments should take rectification out of the hands of dithering strata committees and, if necessary, carry out the necessary work directly and recover the costs from the responsible parties.
How did we get to this point?
Polyethylene-cored aluminium sandwich panels – often referred to as aluminium composite panels (ACP), PE or PU panels – were <a href="https://alucobond.com/company#history" target="_blank">developed 50 years ago</a>, patented in 1971 and marketed as Alucobond. When the patent expired in 1991 other manufacturers entered the market, including products marketed as Reynobond (originally Reynolds Aluminium) and Alpolic (Mitsubishi Chemicals). Now, it is estimated over 200 manufacturers around the world produce ACP panels.
By the 1990s, ACP was gaining a level of acceptance in the Australasian construction market. This was aided by the introduction of performance requirements to replace a previous blanket ban on combustible materials being used on tall building facades. The timing of the relaxation of the Building Code of Australia and the introduction of ACP panels to the Australian market by multinational companies could be a coincidence.
By the end of the 1990s, there was growing evidence that the performance-based approach to facade fire protection was not working. Combustible cored sandwich panels were implicated as contributors to serious injuries and death. A notable example was a <a href="https://www.propertyobserver.com.au/https://www.ife.org.uk/Firefighter-Safety-Incidents/sun-valley-1993/34014" target="_blank">1993 fire in the Sun Valley food-processing factory in Hereford</a> in which two firefighters died. In 1997, the <a href="https://www.architectsjournal.co.uk/home/burning-issues/181812.article" target="_blank">Museum of New Zealand (Te Papa) experienced a cladding fire</a> during construction.
The general and technical press, including architectural magazines with wide circulation, reported cladding fires in various types of materials, including ACP.
What can be done to reduce the risk?
Clearly, a facade fire has serious consequences. The bedrock of all modern fire regulations is that a fire in a tall building must be confined to a single storey. A fire spreading from one floor to the next completely undermines all the elements of protection and control that make egress routes and firefighting viable.
As we saw at Grenfell, a fire that spreads up the facade and involves nearly every storey in the building can’t be brought under control.
By 2000, there was widespread concern among fire professionals and some regulators that ACP was a bomb waiting to go off. A <a href="http://www.cookeonfire.com/pdfs/eurisolgreenreport.pdf" target="_blank">paper by Dr Gordon Cooke</a> clearly outlined the risks. It makes chilling reading in the light of the Grenfell disaster.
Luckily, most tall residential buildings in Australia with combustible ACP cladding have internal sprinkler systems – unlike Grenfell. We might also be able to buy some time by banning barbecues and smoking on balconies, but it is doubtful this will be 100% effective. Another possibility is to physically secure balcony doors shut, but many owners and tenants might strongly resist this draconian measure.
These measures still will not eliminate the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/breakfast/victorian-government-refuses-to-publicly-identify/10780228" target="_blank">risk of arson highlighted by the Victorian government</a>.
As the Neo200 fire demonstrates, even a moderate risk is still quite risky. It is extraordinary that a fire allegedly lit by a single smouldering cigarette could spread so quickly across seven floors and generate so much potentially deadly smoke.
An urgent cladding replacement program certainly has its challenges. A campaign that involves working on several hundred buildings at once in Melbourne and Sydney might overload the industry.
Nevertheless, the situation has been created by a lack of action by governments. Only decisive government action can rectify it. No more “thoughts and prayers”, enquiries or investigations; just replace the cladding now.<img src="https://counter.theconversation.com/content/111186/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Geoff Hanmer, Adjunct Lecturer in Architecture, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">original article</a>.
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No more delays - lives depend on acting on combustible cladding: Geoff Hanmer

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Edgecliff institution A. R. Irwin Violins has found new accommodation.
It has purchased 222 New South Head Road, Edgecliff. 
It was founded in 1987 by Allen Irwin after studying instrument making in London and Sydney.
Irwin Violins has made, restored and supplied string instruments of all kinds to musicians and artistic communities all around the world, including the likes of Joshua Bell and Maxim Vengerov.
After 30 years the new purchase is less than 100 metres from his former location.
The deal was negotiated by Matt Pontey, of Colliers International in conjunction with David Canelas of Krulis Commercial. 
Allen Irwin (pictured below, right) said: "We have been a part of the local Edgecliff community for many years, and are pleased to be in a position where we can to continue to serve and do business in an area that we love."  
<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/2019/2/5/Allen%20Irwin%20-%20Website%20Photo.jpg" alt=""> 
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Edgecliff institution A. R. Irwin Violins purchases new home

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Excelon has announced the opening of 25 King Collective, a shared office space in Melbourne’s CBD.
Kelvin Taing, Director of Excelon says the Excelon team has moved into the top floor in the premises in Melbourne’s South West CBD area.
Mixed-use spaces start from $450 per month. Private studios from $1,200 per month.
Excelon engaged renowned architect Kennedy Nolan to renovate the three-level 25 King Street building, and Excelon Group moved its office to the top floor.
The shared office will house around 30 workers.
The shared amenities include a fully equipped shared boardroom for tenants’ use.
The site was originally the Melbourne Steamship Company and Excelon has kept original touch points throughout, such as the staircase, glass signage of the Melbourne Steamship Company and an original safe from the 1800s.
Excelon have paid further homage to the historical building by engaging Australian artist Benjamin Tankard to create nine paintings of the steamships that once belonged to the Melbourne Steamship Company.
These will adorn the walls within the shared boardroom, meeting room, and within each of the office suites that are also named after the ships.
Excelon Group has been active within the Melbourne property market since its inception in 2011.
The boutique, family-run property business is headed by brother and sister team Kelvin and Rachel Taing.
The 25 King Street project was recently completed and now is open, marking the first wave of real change in the revitalisation in the South West CBD area.
Melbourne’s South West CBD area has been undergoing significant improvement with several office, hospitality, hotel and residential developments in both planning and construction phases.
The Excelon team is proud that the 25 King Collective project has added to the pipeline of positive developments in the area.
The South West CBD area’s flurry of development projects is driven by developers who are committed to cleaning up the area.
Other projects in the area include Geddes Lane Ballroom (formerly the adult venue Bar 20); 555 Collins Street office space project; and the newly opened State of Grace restaurant and venue.
The area has also seen enormous growth in the hotel sector with projects such as St Regis Hotel, Mandarin Oriental Hotel, Ritz Carlton, Hyatt Centric, and BPM’s hotel project, which will be managed under Quincy hotel brand.
<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/2019/1/24/imgco-024.jpg" alt="">
Excelon has a fast growing portfolio of unique residential developments designed with specific lifestyles in mind.
Creativity and design integrity are what sets Excelon Group apart, and by working closely alongside some of Melbourne’s most reputed architects, Excelon has just completed Clyde Mews in Thornbury, and has recently launched Lothian Street in North Melbourne.
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Excelon's Melbourne CBD shared office space 25 King Collective opens

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Three of the eight capital cities are now at the bottom of the retail market, with Darwin now joining Adelaide and Perth, according to valuation firm Herron Todd White's (HTW) latest retail property clock.
Brisbane remains the strongest capital city market for retail, retaining its peak of market position.
It has been joined this month by Dubbo and the Gold Coast. 
Melbourne, Newcastle and Coffs Harbour have all moved into the beginning of a retail market decline, while Sydney is approaching the peak of the market.
<a href="https://www.propertyobserver.com.au/images/2019/2/4/Jan%20Retail%20Clock.JPG" target="_blank">Click</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/2/4/Jan%20Retail%20Clock.JPG" alt="">
There's not great news for Canberra, which is now in a declining market, joining Alice Springs, Echuca and Gippsland.
Hobart's retail market is still nearing the bottom of the market, as is the Adelaide Hills, Barossa Valley, South West WA and the Iron Triangle region.
Retail space in Sydney continues to approach market peak.
Ballarat, Bendigo, Launceston, Burnie-Devonport, the Mid North Coast and the Sunshine coast are all classified as rising markets.
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Three capital cities at the bottom of the retail market: HTW Property Clock

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Stone Real Estate has launched in Queensland with former McGrath executive Scott Kelly at the helm.
Kelly moves across from his former position as head of franchise performance at the McGrath network to establish Stone’s boutique model throughout the Sunshine State. 
The Queenslander said he is thrilled to join Stone Real Estate, saying his move was inspired by Stone Real Estate’s agility and forward-thinking approach that allows franchisees to expand their businesses in a way that until now has been previously unavailable.
“The agility of the Stone franchise platform gives the brand enormous appeal,” Kelly said.
“This is a franchise platform that enables businesses to grow - and offers technology, marketing, coaching and training to assist franchisees and agents.”
With almost 20 years industry experience, and a decade in residential sales, Kelly said he is relishing the challenge to "start from scratch".
“This is a brand that draws people who are aspirational, smart, bold and have an ability to think and act big – and then gives them the geographical scope to grow their businesses to their proper potential. 
“Stone’s franchise model is unique is the way it allows owners to grow and expand their businesses beyond the territories that they’ve been limited to. With Stone they can expand and not be compromised.”
Welcoming Kelly into the Stone Real Estate fold was head of franchise, Luke Cameron.
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Former McGrath executive Scott Kelly launches Stone Real Estate Queensland

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Moxy Hotels, Marriott International’s hotel brand aimed at the next generation of travellers, is set to debut in Australia with the signing of Moxy Melbourne South Yarra.
Slated to open in July 2021, the 180-room, new build standalone hotel is being developed by Melbourne businessmen Hector Ktori and Peter Arvanitis.
Moxy Melbourne South Yarra has been designed by architectural firm Rothelowman.  
With 30 operating hotels across Europe, North America and Asia and more than 80 properties in development, Moxy Hotels markets itself as redefining the traditional affordable hotel experience with social spaces including a lounge, 24/7 self-service grab-and-go food and drinks. 
"We’re thrilled to be debuting Moxy in Melbourne, a city that radiates the playful essence of the brand," said Richard Crawford, Senior Director of Hotel Development, Australia, New Zealand and Pacific Marriott International.
"The Moxy brand will be a game-changer fuelled predominantly by the growing number of Millenial and Gen Z travellers."
Moxy Melbourne South Yarra will open at 30-32 Claremont Street. 
"The next generation of travellers is seeking more than a comfortable bed and room-service burger," said Sean Hunt, Area Vice President, Australia, New Zealand and Pacific, Marriott International. 
"They want to stay in hotels with an approachable price point that offer bold, contemporary design and hyper social experiences that tap into the local culture.
"We’re really excited to partner with Marriott International to bring the first ever Moxy to Australia,” said Hector Ktori, co-owner of Moxy Melbourne South Yarra.
"After visiting a number of Moxy hotels around the world, we’re confident this brand will be a welcome addition to South Yarra, offering guests exceptional value, urban style and lively public spaces in a much sought-after suburb of Melbourne."
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Marriott's Moxy Hotels brand set to make Australian debut in South Yarra

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An extra $7.5 million in property has changed hands in the days following the year's largest in-house auction.
<a href="/news/ray-white-surfers-see-energetic-auction-bidding-at-the-event-2019">Ray White Surfers Paradise’s 25th The Event</a> was held on January 28 where 95 properties went under the hammer.
About $19 million in sales were made on the day but that figure has now reached $26.5 million.
The clearance rate now stands at more than 60 per cent.
More properties are under conditional contract awaiting finance approvals.
Ray White Surfers Paradise Group chief executive Andrew Bell said he was happy with the results.
“There has been some negative sentiment around real estate markets of Australia recently, although the market here on the Gold Coast has spoken differently.” 
More than 2000 people attended this year’s event, with 230 of those registering to bid on the day.
“Six of the properties that were sold at The Event 2019 were to purchasers sight unseen,” he said.
“The RWSP auction videos were so impressive that buyers were prepared to buy on the day without the need for an internal inspection.  "
“These results are representing some of the best sales figures in the country at present,” he concluded.
There has been an additional $30 million in private treaty sales as a result of The Event.
Last year, about 1000 people attended, including 170 registered bidders, recording $35.4 million worth of sales on the day.  
<a href="/news/ray-white-surfers-see-energetic-auction-bidding-at-the-event-2019">Sales since the event</a> included 1410/3018 Surfers Paradise Boulevard (pictured above).
Located in the Wyndham Surfers Paradise development, the one bedroom one bathroom unit sold for $314,000.
Set on 73 sqm, the apartment is situated one block from the beach.
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Ray White The Event post-auction clearance rate over 60%

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

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Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

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Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

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Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

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Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

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The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

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While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

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Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

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While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

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The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

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ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

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The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

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Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

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Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

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Staff reporter

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