<html><body>
Having the best and most up-to-date research findings delivered by AHURI’s eight leading university research partners will enhance decision making that effects many of the most vulnerable Australians, as well as supporting the economic recovery from the crisis, according to Adrian Harrington, Chair of AHURI. 
The research, which will be fast tracked to deliver findings in the second half of 2020 examines topics across the housing continuum including: 
After the pandemic, can building homes rebuild Australia? 
By freezing the economy and social interactions, Australia has shown great success in reducing the spread of the virus, however it has come at a huge cost to employment.
The housing industry has been widely promoted as an ideal mechanism for delivering economic stimulus, but how should does it actually have the capacity to deliver economic stimulus in periods of economic crisis and what forms should such response take? 
Renting in the time of COVID-19: understanding the impacts.
The economic downturn resulting from the COVID-19 pandemic has placed many in the rental market at risk; they face uncertainty, tenure insecurity and financial hardship.
Guided by the needs of policy, this project rapidly generates a nationwide dataset and essential reporting on the impact of COVID-19 on tenants. 
Housing affordability stress during COVID-19
This examines the impacts of COVID-19 on housing affordability stress (i.e. paying more than 30 per cent of income for housing) for home buyers and tenants across different housing types and household configurations. 
Other projects will consider pathways to regional recovery, understanding the impacts of policy responses to the pandemic, impacts on landlords as well as tenants, and impacts on those in marginal housing settings. 
"This is the first time that AHURI has funded rapid research projects on this scale and reflects the urgent need for quality research to support urban and housing policy innovation given the significant impact that COVID-19 is having on Australia's urban environments and housing markets," said Mr Harrington. 
"The Agenda was launched in collaboration with AHURI’s partner universities." 
"We’re very proud at how quickly our research teams came together to develop these projects’, says Dr Michael Fotheringham, Executive Director of AHURI. 
"Having the best and most up-to-date research findings will enable governments at all levels to develop policies that support Australians during and beyond the pandemic, and help deliver safe, secure and affordable housing for all."
The eight rapid-response projects will be published by AHURI in the second half of 2020.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Eight COVID-19 research projects to inform housing policy response: AHURI

<html><body>
Plans for a major industrial precinct on the doorstep of the new Western Sydney Airport have been approved by the NSW Government, paving the way for a significant boost to jobs and investment in the region. 
Approval of the $2.6 billion Mamre Road Precinct, one of 12 key precincts in the Western Sydney Aerotropolis, will unlock 850 hectares of new industrial land and see the creation of new public spaces and conservation areas.  
Premier Gladys Berejiklian said the green light for the Precinct is a significant step forward in securing Western Sydney’s future as a global hub for logistics and advanced manufacturing. 
“We’re getting on with the job of building a new city around the airport well before the first plane takes off,” Ms Berejikilian said.
“This land release will provide opportunities for international and domestic businesses to invest in Western Sydney, enabling major warehousing, logistics, manufacturing and circular economy operations to be established.
“It will also bring a huge jobs boost to the region, creating opportunities for more than 5,200 jobs during the construction phase alone.”
Planning and Public Spaces Minister Rob Stokes said the Mamre Road Precinct will also include 50 hectares of open space, including new cycling and walking paths that will open up previously inaccessible land to the public. A further 70 hectares of conservation land, including the Cumberland Plain Woodland, will also be protected within the Precinct. 
“Not only does this rezoning secure much-needed productive industrial land, it also safeguards critical environmental areas and provides some fantastic new public spaces for the future residents of the Western Parkland City,” Mr Stokes said. 
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the rezoning is another milestone in the transformation of the Western Parkland City into a thriving hub, with new jobs, homes, infrastructure and open spaces.  
“We already have interested businesses from the transport and logistics, pharmaceutical and data storage industries ready to move into the precinct and capitalise on its future connections to local, regional and overseas markets,” Mr Ayres said.
The first industrial estates for the Mamre Road Precinct are expected to be occupied from mid-2021. 
The Mamre Road Precinct was one of 24 projects included in Tranche 2 of the NSW Government’s Planning System Acceleration Program that is fast-tracking planning assessments to keep people in jobs and the economy moving during the COVID-19 crisis. To date, the program has created opportunities for more than 16,400 direct  jobs and almost $11 billion worth of economic investment across NSW.
</body></html>

$2.6 million Mamre Road Precinct to boost jobs in Western Sydney

<html><body>
James Ledgerwood has quit The Agency at Bondi Beach to join Ray White Double Bay.
Before moving back home to Sydney, he started his real estate career selling property at Surfers Paradise for Ray White.
His real estate career started in 2004 and then from 2011 with McGrath on the Gold Coast.
Over the past year realestate.com.au data suggests he sold 24 properties, with 20 houses at a $4 million medium and four units at a $1 million median. 
His most recent sale was in early June at Bondi with a $1.045 million apartment preceded by an $855,000 Bondi sale in early April.
Some of his sale results during his time at The Agency have included;
<ul>
<li>307 ‘Pacific’ 186 Campbell Pde, Bondi Beach - $6,000,000</li>
<li>13 Darley Road, Randwick - $5,550,000</li>
<li>Lighthouse 516 ‘Pacific’ 186 Campbell Pde, Bondi Beach - $4,550,000</li>
<li>6 Kings Road, Vaucluse - $4,100,000</li>
<li>310 Bondi Road, Bondi - $3,800,000</li>
<li>90 Ocean St, Bondi - $3,738,000</li>
</ul>
 
</body></html>

James Ledgerwood quits The Agency

<html><body>
JLL's recent ‘Will Melbourne’s city Fringe keep kicking goals’ report explores vacancy and rental scenarios for the market, post pandemic.
In recent years, Melbourne’s Fringe office market has recorded strong rental growth in prime and secondary assets, in some cases outperforming CBD markets nationally.
In 2020 the new supply to the Fringe markets is expected to be more than 9 times the 20-year-average. By the end of 2024, Melbourne’s Fringe office market is forecast to have a net increase in stock of close to 305,300sqm, taking the total market to 1.87million sqm, JLL research forecasts. 
While 1Q20 represents the peak of the net face rental growth cycle in the Fringe, the impact the health and economic crisis could have on the Fringe vacancy is still to be determined, particularly due to the variable and flexible component of the Fringe office supply pipeline.   However, as vacancy increases with the onset of new supply and downward pressure on demand, JLL predicts we will see effective rents in older and secondary stock recording more pronounced corrections.  
JLL Research is tracking 55 projects &gt;1,000sqm that could deliver an additional 272,700 sqm of office space to the market by 2024.However many of these are unlikely to proceed without pre-commit and therefore may be deferred or put on hold.
The projected supply, withdrawals and likely demand will all impact the Fringe office vacancy which is predicted to rise to 13.7 per cent by the end of 2021 and reach a second peak in 2024 at 14.3 per cent.
Several factors will impact the variance in predicted vacancy scenarios;  
<ul>
<li>Revised Scenario V shaped recovery assumes the supply pipeline is more substantially reduced or delayed and demand bounces back strongly in 2022. Vacancy peaks in 2023 are in the region of 12.8 per cent .</li>
</ul>
<ul>
<li>Revised Scenario longer term impact assumes a reduced or delayed supply pipeline but also continuing inactivity for the next four years, minimal withdrawal of assets for any type of development and weaker demand. Vacancy peaks in 2022 are at approximately 15.4 per cent.  </li>
</ul>
<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/2020/6/3/3_JLL.jpg" alt="" width="752" height="480">
JLL’s senior research director, Victoria, Annabel McFarlane, said: “COVID-19 is expected to have a short to medium term impact on the Melbourne Fringe markets. After five years of very strong rental growth with prime net effective rents increasing by 9.2 per cent on average annually, we are projecting that net effective rents will contract by 9.1% from the peak in 1Q20 to trough in 4Q21. 
“As demand softens, developers may postpone or place projects without any level of pre-commitment on hold as softening rents and yields impact the long-term viability of these projects. Shorter build periods and smaller project sizes gives the Fringe market a degree nimbleness as potential speculative supply is postponed in response to reduced demand.   
“However, it is not all negative and we predict some sectors to expand post pandemic, which will particularly affect the Fringe market given the occupier range. The fringe market will have an important role to play in the post COVID environment as some businesses look to split workforces and increase flexibility for staff.”
JLL’s head of metro office leasing, Victoria, Josh Tebb added, “Sectors including Technology, Health Care and the Public Services sector which are predicted to expand already have strong footholds within the Fringe markets, and these precincts are well placed to absorb these rapidly growing sectors in the recovery. 
“We are only beginning to witness the impact of COVID-19 on the Victorian office market but in these early stages, we believe the cost savings and controlled building environments of smaller buildings in the immediate fringe may appeal to some CBD tenants seeking to separate departments and project teams for the short to medium term.”
Ms McFarlane concluded, “Longer term, Melbourne is well positioned from a macroeconomic stance, with liveability, relative affordability, historic population and jobs growth and a strong education sector to support the recovery from this health and economic crisis. Office markets will need to become more metropolitan to accommodate the changing and growing workforce.”
</body></html>

Large Melbourne supply hits post COVID-19 

<html><body>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Oxford Properties Group (‘Oxford’), a leading global real estate investor, developer and manager, announced it has lodged its Development Application (‘DA’) for its 39 storey, build-to-rent residential building, marking a major milestone for the Sydney Metro Pitt Street over station development. 
The building represents the first large scale build-to-rent project in Sydney’s CBD, and is part of Oxford’s wider development plans that also include a 39-storey office building at the Pitt Street north metro station entrance. The build-to-rent project marks the first step in Oxford’s strategy to create, over time, a leading multifamily platform in Australia, with a focus on Sydney and Melbourne.
Key features of the south building revealed in the DA include: 
<ul>
<li>More than 20,000 sqm of gross floor area including residential accommodation and a publicly accessible restaurant;</li>
<li>234 apartments with a range of dwelling sizes and types from one to three-bedroom apartments, all with balconies or terraces;</li>
<li>Three floors of resident amenities including a 20m pool with health and wellness facilities, resident lounge providing space to relax or work from home; and,</li>
<li>Multiple communal outdoor terraces including a dedicated resident rooftop dining room.</li>
</ul>
“We are excited to share our detailed plans for Pitt Street south building with the public for the first time. We have been working closely with our delivery partners and the project’s world-class consultant team, including leading Australian architects Bates Smart, to develop plans for a transformational project that will set the bar for purpose- built rental in Sydney’s CBD. The quality of apartments and extensive amenities will create an unmatched experience for residents,” commented Nellie O’Keeffe, Project Director for Pitt Street over station development at Oxford Properties.
“In line with Sydney Metro’s vision of forming a vibrant hub that will shape the city’s future, the wider Pitt Street project will deliver an enhanced midtown precinct incorporating office, retail and residential with a seamless transfer to public transport. The proposed design for a premium build-to-rent development will elevate this precinct as a landmark project and create a strong sense of place. The successful lodgement of the south building DA is progress towards our timeline to begin construction.”
As detailed within the DA, the design of the south building seeks to create a singular elegant and cohesive form, which brings together the Metro station, retail, residential and amenity uses. Philip Vivian, Director of Bates Smart, commented, “The south building has been designed to strengthen midtown’s historic brick character. Its clustered form reflects the scale of nearby buildings, while the podium sensitively steps to integrate with the historic context. Precast masonry facades reinterpret the colouration of the variegated brickwork of the surrounding buildings. The facade creates a midtown feel, with solidity providing privacy and environmental performance for residents. It’s architecture that is sympathetic to historic and present-day Sydney, and it enhances the city’s urban fabric.”
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
Residents of the south building will benefit from Oxford’s institutional ownership that provide longer, more flexible lease terms, security of tenure and homes that are cared for by real estate management professionals.
“At Oxford, we are committed to combining global best practices and the knowledge of our on-the-ground team to deliver projects that positively impact our communities through job creation and that create a vibrant sense of place. Pitt Street metro station is a landmark project for the city and, as the first purpose-built build-to-rent building in the CBD, the south building serves as a major step forward for the residential market in Sydney,” commented Alec Harper, Head of Australia at Oxford Properties.
“The residential market in Australia has been evolving in response to housing affordability, population growth and changing demographic sentiment to home ownership. This is driving demand for professionally managed rental residential accommodation in urban centres. Build-to-rent offers a more affordable and flexible solution than homeownership for many Australians but, through surety of tenure, allows residents to put down long-term roots. As our first project in Australia as lead developer since entering the market in December 2018, it demonstrates our commitment to creating a leading multifamily platform in Australia with a focus on our core markets of Sydney and Melbourne.”
Oxford’s plans for the south building draw on its global experience and track record of delivering landmark projects around the world. Oxford currently owns over 12,000 rental residential apartments globally. It is currently developing build-to-rent communities across London, New York, Toronto, Boston and Washington D.C.
Construction on the south building is expected to begin in 2021 and scheduled to complete in 2023 with Metro services beginning in 2024. During construction, Oxford anticipates that around 350 jobs will be created through the construction of the south building over a 24-month period.
Pitt Street Project Background
Oxford Properties was named lead developer and equity investor for the office and build-to-rent residential buildings above the new Pitt Street metro station, announced by Sydney Metro in September 2019. Oxford’s consortium partners CPB Contractors are responsible for delivery of the station. Oxford is also working closely with Investa Property Group, which it has engaged as Co-Development Manager to assist in delivering the project.
Collectively, the Pitt Street north and south buildings will deliver approximately 65,000 sqm of new space and create a vibrant new commercial and residential hub around Pitt Street, between Park Street and Bathurst Street.
Oxford plans to lodge the DA for the north building, a 39-storey premium office tower and retail plaza on the corner of Pitt and Park Street, in July this year.
<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/2020/6/3/18_Oxford.jpg" alt="">
</div>
</div>
</div>
</body></html>

DA lodged for build-to-rent-building at Pitt Street south metro station 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The cost of insurance claims from four natural disaster catastrophes declared over the 2019-20 summer has passed $5.19 billion, with more than 15,000 new claims worth $270 million lodged in the past four weeks.
ICA Head of Communications Campbell Fuller said: “Thousands of new claims and property loss assessments have pushed total claims to more than 288,100 and the estimated damage bill to more than $5.19 billion.
“Insurers have already paid more than $2.85 billion for emergency accommodation, business interruption, repair and rebuilding work, replacement of motor vehicles and goods, services and settlements. This is despite the widespread impact of the natural disaster season and the handbrake effect of COVID-19.
“Almost 50 per cent of claims from the four storm, bushfire and hailstorm catastrophes have been closed by insurers – an extraordinary result for households and businesses affected by these disasters.”
The COVID 19 pandemic was declared a Catastrophe on March 11, 2020. The industry is assessing the impact it is having on claims and customers.
</div>
</div>
</div></body></html>

Insurance bill for season of natural disasters climbs over $5.19 billion for 2019/2020

<html><body>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Major construction for the Parramatta Light Rail has begun on ‘Eat Street’ in the first step towards the revitalisation of the famous dining strip.
Minister for Transport Andrew Constance said the light rail works in Eat Street have started this week. They will include the removal of the existing pavement and road surface, deep excavation and moving or replacing underground utilities including water, gas pipes and telecommunication services.
A micro-tunnelling machine beneath the ground will reduce noise and impact compared to street-level work, moving up to 10 metres a day.
“We know the community is eager to see this light rail built and we will be working hard over the next five months to make the most of this time,” Mr Constance said.
“Our construction timetable together with innovative engineering techniques will see this precinct through to a fantastic new light rail network that will bring passengers into the heart of Parramatta.”
A construction grace period will see works cease on November 1, 2020 until February 1, 2021 and outdoor dining restored over the busy warmer months.
Member for Parramatta Geoff Lee said the precinct, closed to car traffic in February ahead of light rail works, had been impacted by COVID-19 lockdown measures and would benefit from a vibrant program of events and activities planned to celebrate the distinctiveness of the area.
“We’re pleased to give businesses certainty that hoardings will come down at the beginning of November, giving everyone a break from construction,” Mr Lee.
“This is in addition to the many other ways we’re proudly supporting Eat Street.” Further NSW Government support measures will include:
Nearly 2000 metres of colourful shadecloth and hoarding will highlight the array of local retailers and reflect the popular dining area’s rich cultural diversity.
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<ul>
<li>
‘Activate Parramatta’, a new app, will be launched to attract the community, residents and visitors to dine or shop at businesses along the light rail route, as COVID-19 restrictions continue to ease.
</li>
<li>A ‘Dine, Scan, Win’ shop local campaign will give the community a chance to win weekly prizes from participating restaurants, cafes and takeaway shops.</li>
</ul>
<ul>
<li>Realise Business, appointed by Transport for NSW to deliver free business support services, continues to provide guidance to businesses affected by light rail construction.</li>
</ul>
The $2.4 billion Parramatta Light Rail will connect Westmead to Carlingford via the Parramatta CBD and Camellia and is expected to open in 2023.
Main Photo: <a href="http://www.turnerstudio.com.au/eat-street-merrylands-urban-design/" target="_blank">TURNER STUDIOS</a>
</div>
</div>
</div>
</body></html>

'Eat Street' light rail transformation underway

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Rental prices have fallen in Metropolitan Melbourne following a month of some improvement in vacancy rates across the State.
The monthly rental data from the REIV shows median rents for houses are now more affordable at $470 per week, down from February’s $480 per week, but still higher than the same time last year.
Metropolitan units are also now cheaper to rent, from $450 per week in February down to $430 per week.
The Regional Victorian vacancy rate climbed from 1.8% to 1.9% over the month, however median house rents remain unchanged on $350 per week, with units rising to $295 per week.
In Geelong, house rental prices shrunk by $10 to $400 per week, the Ballarat region remained steady on $340 per week, while house rents increased in the Bendigo region by $7 to sit at $350 per week.
Although there has been some improvement in vacancy rates with Metropolitan Melbourne recording 2.3% for two consecutive months, Victoria needs vacancy rates of 3%- 4% to maintain a healthy market.”
The numbers released today reflect the strong market in the lead up to the State of Emergency, and are consistent with our March quarter median prices.
REIV President Leah Calnan said Victoria’s that the temporary measures in place due to COVID-19 make it challenging to gauge the real situation but the underlying strength of the Victorian property market is undeniable.
“Victoria’s rental accommodation supply is growing, more rental homes are now available but there remains a need for more properties to be listed to cater for growing demand.” Ms Calnan said.
“The State Government needs to work more closlely with property owners, to help build a reliable supply of rental accommodation in Victoria.
 
<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/2020/6/3/17_REIV.jpg" alt="" width="337" height="499">
Source: REIV Rental Data
</div>
</div>
</div></body></html>

Victoria vacancy rates improving: REIV

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The NSW Government has released an awareness campaign to remind DIY enthusiasts to plan, prepare and check for asbestos if they are renovating an old home.
Renovation works may disturb asbestos, particularly in houses and sheds built before 1990, and the tagline Asbestos lurks in more places than you think, reminds DIY renovators and tradies to check for asbestos before renovating or building.
Environment Minister Matt Kean said this long weekend provides an ideal opportunity to tackle a DIY project but only if it is done safely and carefully.
“You can’t always tell what products contain asbestos just by looking,’’ Mr Kean said today.
Even though it has been banned in Australia since 2003, at the height of its use asbestos was in over 3,000 products with many of these products still in homes and workplaces – especially those built before 1990.
“We want homeowners to make use of Government’s Asbestos Finder asbestos.nsw.gov.au or arrange an assessment from a licensed asbestos assessor before starting a renovation to best protect your family, neighbours and the wider community,” Mr Kean said.
“Checking before you start will keep you and your family safe.”
Everyday products that could contain asbestos include:
<ul>
<li>
roofs, eaves, downpipes and insulation
</li>
<li>
interior walls (often with a non-asbestos covering on the outside)
</li>
<li>
kitchen splashbacks
</li>
<li>
under lino, some carpets and tiles (and the cement compounds used to fix tiles)
</li>
<li>
lagging around pipes, inside fuse boxes or as part of ventilation shafts
</li>
<li>
fences, garden sheds and small outdoor construction like chicken coops
</li>
<li>
bonded cement sheeting that make up walls, which can be disturbed when sanded in preparation for painting.
</li>
</ul>
</div>
</div>
</div></body></html>

Old homes can be an Asbestos hotspot

<html><body>
The April 2020 Lending to Households and Business figures, released by the Australian Bureau of Statistics, show the value of loans for housing fell by 5.0 per cent (in seasonally adjusted terms), with the decrease being driven by owner occupiers purchase of existing dwellings, according to the Real Estate Institute of Australia (REIA).
“The value of new loan commitments for both owner occupiers and investors displayed the largest fall in twelve months and the purchase of existing dwellings experienced the largest fall in over a decade,” said Mr Adrian Kelly, President of the REIA.
“Not surprisingly ABS reports that lending institutions have indicated that COVID-19 impacts were being seen through both reduced demand from borrowers and tighter lending criteria. What is more sobering is that ABS says COVID-19 operational impacts experienced by some lending institutions resulted in a backlog of March housing loan applications being processed in April, which moderated the April fall in loan commitments.”
The total number of owner occupier first home buyer loan commitments dropped by 3.8 per cent in seasonally adjusted terms but the proportion of first home buyers, as part of the total owner-occupied housing finance commitments was 36.7 per cent. 
Despite the fall in new commitments for first home buyers, the series is 20.2 per cent higher than the most recent low point in December 2018.
“Feedback from agents suggests that worse is yet to come on housing finance figures as restrictions on movements throughout May and caution about the economy impact on activity in the housing market,” concluded Mr Kelly.
 
</body></html>

Value of loans fell by 12 month high: REIA

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

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.

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]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News