<html><body>
The Blackmore's chief executive Christine Holgate has finally sold her redundant Central Coast weekender.
A price reduction six months ago to $2.2 million has prompted the Pearl Beach sale that was initially listed with $2.6 million hopes with PRD Ettalong Beach agent Stuart Gan over a year ago.
She paid $2.3 million for the bushland retreat in 2008.
The four bedroom home had been deemed surplus to requirements to the head of the vitamin tablet company, who upgraded weekenders last October when she spent $5.2 million on a Walter Barda-designed beachfront.
It too traded at a loss since $5.8 million was paid in 2009 when billionaire retail king Brett Blundy bought from the former Photon Group executive chairman Tim Hughes and his wife, Jackie.
Holgate's Blackmore shares saw trading at $220 record highs earlier this year as they have tapped into the Chinese market for vitamin E, selling some 500,000 tubs a month. They are now trading at $112 on the ASX.
Last December she offloaded $4 million in Blackmores shares at around $171 a share, disclosuring to the ASX that she was "soon to be married" and had sold the shares to help fund the new home.
The UK born Holgate married her partner Michael Harding at a ceremony in the English coastal town of Aldeburgh earlier this year.
This article was first published in the Saturday Daily Telegraph.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Blackmore's chief finally sells Central Coast weekender

<html><body>
The sovereign net worth implied by market prices tends to be on average about 20 percent of GDP higher than its accounting value for a sample of 31 advanced economies and emerging market economies, according to IMF's latest report.
Differences between market and accounting values are more positive for countries with weaker fiscal fundamentals and have increased disproportionately for euro area countries over the past two years.
Sovereign credit indicators (such as credit default swap spreads and bond yields) offer valuable information about the size and riskiness of government balance sheets, as perceived by the market. Higher credit spreads, which measure the default risk borne by public bond holders, indicate that a government’s financial solvency has deteriorated.
This occurs when the government net worth declines and eventually becomes negative—at which point government assets become insufficient to fully cover outstanding liabilities.
This box relies on a finance model that builds on the contingent claim analysis framework of Jobst and Gray (2013). The model’s purpose is to infer a market-implied estimate of government assets, which are mostly unobservable, from the (observed) amount and maturity structure of outstanding debt securities and their prevailing market valuation, under the assumption that available credit indicators imply an accurate assessment of sovereign risk.
The market-implied sovereign net worth is then computed and compared with the accounting data reported by statistical agencies. The framework is applied to monthly observations between April 2012 and the end of 2015 from 31 advanced and emerging market economies for which comprehensive accounting balance sheets are available.
Overall, the analysis shows a significant gap between market- and accounting-based assessments. Results for 2014 suggest that market-implied sovereign net worth exceeds its accounting equivalent by about 20 percent of GDP on average, with considerable cross-country variation (Figure 1.5.1).
The market assessment is forward looking and thus may reflect various factors, including valuation effects and the acknowledgment of unobserved or unmeasured effects that have an impact on debt sustainability but are not recorded by statistical offices (such as future primary balances and implicit guarantees received or granted by the government).
<a href="/images/2016/10/12/Median%20Evolution%20of%20Market-%20Implied%20Net%20Worth%20201215.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Median%20Evolution%20of%20Market-%20Implied%20Net%20Worth%20201215.jpg" width="350">
Moreover, the gap between the market and accounting measures of sovereign net worth is positive and widens for countries with weaker fiscal positions (in Figure 1.5.1, fiscal stress is defined as debt ratios exceeding debt sustainability analysis thresholds, but the result is consistent with broader measures of fiscal soundness).
Because the model controls for changes in sovereign risk, this means that for these countries, market prices would justify a significantly higher net worth than measured by accounting data. Conversely, accounting balance sheets would be consistent with sovereign credit spreads above those currently observed.
Interestingly, euro area countries have experienced a much higher increase in market-implied net worth than other countries in the sample since mid-2012.
In these countries, net worth rose by more than 30 percent of GDP on average between mid-2012 and the end of 2015, with half of the surge occurring in the months following European Central Bank President Mario Draghi’s July 2012 pledge to do “whatever it takes to preserve the euro” (Figure 1.5.2).
Over the same time period, expected losses on public debt, which underpin the estimation of market-implied net worth, declined sharply (Figure 1.5.3). Fiscal consolidation efforts and overall financial conditions are certainly part of the story, but they are not sufficient to explain such a sharp increase in a short period of time.
Other factors are also at play, most likely monetary policy actions and perceptions about future monetary stance, suggesting benefits from coordinated policy measures (IMF 2016c).
<a href="/images/2016/10/12/Change%20in%20Market-Implied%20Expected%20Losses%20on%20Sovereign%20Debt%20201215.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Change%20in%20Market-Implied%20Expected%20Losses%20on%20Sovereign%20Debt%20201215.jpg" width="350">
</body></html>

Property 101: How much do financial markets value government balance sheets?

<html><body>
The REIV is expecting about 550 auctions in 240 suburbs this week.
The top auction locations this week are Brunswick and Frankston (9 auctions), followed by Craigieburn, Glen Waverley, Melbourne, Mount Waverley and Noble Park with eight auctions in each.
Last weekend: 1,258 auctions (exc. 17 postponed and 21 withdrawn)
This weekend: 550 auctions
This weekend last year: 68% from 1,527 auctions
The number of auction sales remains high, with more than 1,000 homes selling at auction last week.
</body></html>

Racing carnival interrupts spring property selling season

<html><body>
Henderson Land Development Co. Ltd's project Double Cove sets a new benchmark for large-scale residential developments.
With panoramic views of two bays and bordered by extensive woodland and coastline, Double Cove’s masterplan features 265,000 square metres of sustainable housing in 21 residential towers ranging in size from 10 to 35 storeys.
It comes with ample green space covering 50 percent of the site. Green roofs, walls and water features are scattered throughout the development to combat the heat island effect.
Double Cove incorporates 3,500 residential units, as well as a shopping mall, clubhouse, kindergarten, car parks, landscaped gardens and a central park which acts as the precinct’s ‘green lung’.
There's more than 80 electric vehicle charge stations at Ma On Shan, at 39 Conduit Road.
Recycled rainwater harvesting captures 1,700 cubic metres of water each year, saving around 70 percent of the precinct’s drinking water.
</body></html>

Hong Kong's Double Cove energy reduction residential complex sustainable design

<html><body>
Rroblems buying a home is a major issue for almost every Australian under 30, according to Rick Cosier, a financial adviser and Principal of <a href="https://www.selectadviser.com.au/adviser/profile/richard+cosier_5204584" target="_blank">Healthy Finances Ltd</a>.
He noted on a CuffeLinks blog that a measurement of official house price data and mortgage costs by comparison website RateCity looked at the salary required for a single person to afford repayments on a 30-year loan. 
The main criterion was that the individual could not spend more than a third of their income on housing costs. Here are the results for Sydney:
Median House Price: $825,000
Loan Size: $660,000
Interest Rate: 4.74%
Monthly Repayment: $3,439
Annual Income Needed: $137,556
But Cosier suggests these figures are not an accurate reflection on what is happening.
"First, few single first home buyers earn $137,556. 
"Secondly, the median house price in Sydney is now a lot more than $825,000.
<a href="/images/2016/10/27/Median%20prices.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/27/Median%20prices.jpeg" alt="">
"Thirdly, people are clearly spending more than one third of their income on loan repayments."
He suggested property prices are more than seven times average income levels.
<a href="/images/2016/10/27/Price%20to%20income%20ratio.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/27/Price%20to%20income%20ratio.jpeg" alt="">
Whilst not many 30-year-olds earn $137,556, Cosier thought it’s quite possible that a 30-year-old couple can be jointly earning $120,000. 
"Given the lower tax rates that two incomes generate over the single person, a 30-year-old couple could generate sufficient income at today’s interest rates to make the necessary mortgage payments listed above."
However, he noted home ownership in Australia has fallen from 71% to 67% in the last 20 years, and more significantly, for Australians aged between 25 and 34, the proportion has fallen from 39% to 29%, and for ages 35 to 44, from 63% to 52%.
First home buyers now make up only 13% of new home loans.
He observed that overseas buyers and investors appear responsible for much of the post-2010 surge, and favourable tax concessions are pushing homes out of reach for a high percentage of younger Australians.
Anecdotal evidence from clients suggests that the desire to get a foothold in the property market is causing many people to adopt strategies that are increasingly risky.
He suggests if the debt repayment becomes difficult due to unemployment, interest rate rises, a property downturn, divorce or an unexpected pregnancy, both the parents and the children could suddenly have a major cash flow problem. 
"It wouldn’t take much for both to lose their homes."
</body></html>

Home ownership struggles will drive changes: Rick Cosier

<html><body>
Clarence Property managing director Peter Fahey says around 70% of people who have purchased in the new Epiq Lennox Head development to date are from the Lennox-Ballina area.
The developer Clarence Property claims that it is the largest privately funded civil works project between the NSW mid-north coast and Queensland border.
The $200 million development will create up to 580 jobs over the next five years, Fahey said.
It will deliver up to 335 jobs during its construction phase, with a further 245 ongoing jobs to be created at and supporting the project's planned shopping precinct.
Construction is complete on the sold out first stage of the community, comprising 51 homesites and sporting fields.
</body></html>

Epiq Lennox Head buyers are 70% local 

<html><body>
Strathvean, in the Eastern Riverina just outside Tarcutta, has been sold prior to online auction by Sydney rural property specialists Meares &amp; Associates.
There had been a price indication of $3.8 million to $4 million.
The purchasers are a farming family from the Murrumbidgee Irrigation Area who intend on moving away from irrigation into livestock production.
This highly intensive and diversified <a href="https://www.meares.com.au/search-properties/details/Strathvean" target="_blank">holding comprises 888.3 hectares (2,195 acres)</a> of predominantly productive arable flats and undulating valley floors, with some timbered ridge lines, making it ideally suited to both breeding and fattening of sheep and cattle.
Strathvean was owned and operated by the Gaskin family for over 25 years and they are now looking to enjoy retirement.
Strathvean had previously carried 400 cows on a self-replacing herd basis, growing out their progeny to 400-480kg liveweight selling direct to Rangers Valley Feedlot. The success of the beef enterprise has over the years been underpinned by the piggery, which todays boasts a capacity of 3,000 grower pigs at any one time.
A feature of the property is the four to six bedroom homestead, originally built in the 1870s, and with extensions completed in 1996-1997. 
Chris Meares said Strathvean received 12 serious enquirers looking to inspect. 
"With the capacity to run 7,000 to 8,000 DSEs, combined with the piggery operation providing the ability to generate serious income from day one proved to be the catalyst for the high number of enquiries and its eventual sale”, Meares concluded.
</body></html>

Strathvean sold in the Eastern Riverina

<html><body>
Bruce takes the spot as ACT's slowest selling suburb, according to Investar's latest report.
The property advisory firm says that a one bedroom unit in Bruce can take up to 337 days to sell with a median price of $299,000.
An example would be a one bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-act-bruce-120057033" target="_blank">87/8 Baudinette Circuit </a>(above) that was recently sold for $322,000.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-act-bruce-120734701" target="_blank">66/8 Baudinette Circuit </a>(below) was recently sold for $320,000.
<img src="/images/2016/09/27/668%20Baudinette%20Circuit.jpg" alt="">
A three bedroom unit with a median price of $419,000 at Bruce takes second place on the list taking up to 309 days to sell.
Suburb   Type                        Beds   Days to sell    Median    Year growth
BRUCE    Unit &amp; Studio           1        337               $299,000  -5.08%
BRUCE    Unit                        3        309               $419,000  -5.85%
BELCONNEN  Unit &amp; Studio     1        296               $345,000  7.81%
BARTON   Unit                       2        258               $610,000  -3.03%
LYNEHAM Unit &amp; Studio          1        254               $331,500  -7.92%
</body></html>

Bruce is ACT's slowest apartment market: Investar

<html><body>
A former fire station in Echuca is for sale for $1,050,000.
Located at <a href="https://www.commercialrealestate.com.au/property/245-249-pakenham-street-echuca-vic-3564-2013020704" target="_blank">245-249 Pakenham Street</a> the property sits on a land size of 1,262 square metres.
It features the fire station itself, a shed for storage, residence as well as vacant land.
This property has the potential to be redeveloped (STCA) into a number of different establishments including private residence, retail premises, office spaces, accommodation or even apartment living as it has been approved for zoned commercial 1.
The property is being offered through Century 21 Rich River Real Estate agents Steve Pain and Andrew Lochhead.
Another former fire station is also currently available in the central Victoria town of Stanhope. The property at 48 Birdwood Avenue, Stanhope has been listed for considerably less - it's currently listed for $100,000.
</body></html>

Former heritage Echuca fire station for sale

<html><body>
A former fire station in the central Victorian town of Stanhope is for sale at $100,000.
The property located at <a href="https://www.commercialrealestate.com.au/property/48-birdwood-avenue-stanhope-vic-3623-2013069764" target="_blank">48 Birdwood Avenue</a> has a land size of 908 square metres with a 20m x 10m station divided into two large rooms.
A wall of polished pine divides the rooms with kitchenette in both rooms and a ceiling fan in the back room.
There are two water tanks, one 18,000 litres and the other 22,700 litres.
The property is offered through Hinchliffe &amp; Greed Real Estate agent John Lilford.
Another former fire station is also currently available in Echuca.
</body></html>

Former Stanhope fire station listed at $100,000

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe>

Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

[smartcode_project:default project_id=342 project_image_fid=364553]

From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

[smartcode_project:default project_id=342 project_image_fid=336455]

Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News