Poised to make a statement in the heart of Port Melbourne is newcomer 103 Beach Street. Comprising 14 residences spread across three levels, this low-rise boasts a stunning facade characterised by concrete and abundant glass. 

<h2>Immerse yourself in beach living</h2>

Echoing the beachside neighbourhood, the building’s exterior reflects sea and sun with shimmering glazing and crisp white tones. Balcony planters enhance the vibrant greenery of the streetscape while softening the facade’s sleek sharp lines.

<h2>Everything you need within reach</h2>

Residents will enjoy the convenience of a supermarket and cafe on the ground floor, ensuring you never have to leave the premises for your weekly shop or caffeine fix. On your doorstep you’ll find a world of amenities, including Station Pier and Port Melbourne Beach -- making 103 Beach Street a uniquely luxurious and convenient place to call home.

Pier 103 Residences - 103 Beach Street, Port Melbourne

Luxcon’s 'The Address' is a collection of 22 curated residences located in Melbourne’s coveted East Melbourne region. Designed in collaboration with Woods Bagot, the internationally-acclaimed architects, this opulent development boasts a stunning contemporary facade that makes a bold statement in the heart of the city.

As soon as you enter one of these beautifully designed homes, you will be immediately struck by the 2.8m to 3m high ceilings that enhance the feeling of space and grandeur. The floor-to-ceiling windows offer 270-degree views of the Melbourne CBD, Fitzroy Gardens, Collingwood, and the East Melbourne region, providing an unparalleled panoramic view.

The residences are finished to perfection, with natural stone bench tops, engineered timber flooring, and feature pendant lighting. State of the art appliances and equipment are included, adding convenience and luxury to your everyday life.

Residents of 'The Address' can enjoy the benefits of direct lift access from most apartments, ensuring easy access and privacy. A curated ground floor food and beverage offering with a carefully selected tenant provides lifestyle amenity for all residents.

The boutique development is uniquely designed, with only 22 residences that have been thoughtfully crafted to cater to individual preferences. The oversized two and three-bedroom apartments, two sub-penthouses, and one spectacular penthouse with a swimming pool offer a range of options to suit your needs.

Located in the heart of Melbourne, 'The Address' is the perfect location for those seeking luxury and convenience. With the Fitzroy Gardens and countless luxury shopping, dining, and entertainment options just a short walk away, this is truly the ideal place to call home.

The Address - 372-380 Albert Street, East Melbourne, East Melbourne

Live Beyond Boundaries.Arrive home to opulence at the Gold Coast’s most elite new address. Coming soon to Garfield Terrace, “Escape” is a boutique collection of just 33 absolute beachfront 3 &amp; 4 bedroom + multi-purpose room whole-floor skyhomes &amp; double storey penthouses. Escape represents a standard of living reserved for the ultra-elite. Positioned on absolute beachfront with no roads separating you from the beach. 360 degree views include beach views South to Coolangatta, and North to Main Beach that compliment the Surfers Paradise city skyline lights and Gold Coast waterway views. Contemporary architectural elegance as imagined by PBD Architects, combines with impeccably curated interiors by Coco Republic. The finest of ultra-luxury finishes and details including marbles and timber, adorn spacious light filled floor plans. Brought to you by high-end builder/developer Luxcon, who are synonymous with delivering remarkable developments throughout Melbourne and Sydney, and pride themselves on partnering with the most respected industry professionals to deliver an elevated level of luxury that allows each of their developments to stand as a bespoke landmark in their own right. Display open by appointment. Enquire now.

Escape, Surfers Paradise - 63 Garfield Terrace, Surfers Paradise

The One - 1a Benelong Crescent, Bellevue Hill

Jardine Residences is coming to Epping, a collaboration between developers Luxcon and MKD Architects. This sophisticated high-rise is poised to redefine luxury apartment living in the Sydney suburb, offering residents a whole new level of sophistication and convenience.

Comprising 22 levels and 56 residences, Jardine presents a slender facade that combines a broad palette of textures and colours, highlighting wall-to-ceiling glass that delivers abundant natural light to interiors. 

If it’s five-star hotel living you’re after, you’ve come to the right place! Jardine boasts luxurious resident-exclusive club facilities that will make you feel like you’re living the high life. When it’s time for rest and relaxation, take advantage of the lush landscaped gardens surrounded by timber privacy screens.

Indulge in the superb skyline views provided by floor-to-ceiling tinted glazing and bring out your inner chef in the exquisite kitchen. Complete with top-end Miele appliances, stone bench tops, large sinks, and matte black tapware, kitchens offer an abundance of cupboard space. Timber floors flow throughout living and dining areas and 100% wool carpets clothe bedroom floors.

Complete with ducted air-conditioning, video security, and secure car parking, Jardine Residences is poised to become a prime address for opulent living.

Jardine - 35 Oxford Street, Epping

The Aristocrat of Rose Bay - 62A Dover Road, Rose Bay

88 Kensington - 88 Anzac Parade, Kensington

Developers are continuing to spend considerable money on prime beachfront development sites in the Gold Coast.

The biggest settled site sales so far this year have been on the Surfers Paradise dress circle, where KTQ received approval for Seren, a mixed-use, luxury hotel and branded residence building at 27 Garfield Terrace.

They sold that 2,025 sqm site, with plans for 60 hotel rooms and 60 luxury apartments above, starting at 350 sqm, for $56 million to a company linked to Hong Kong interests.

Sydney developer Luxcon also has offloaded the building Seabreeze, on a 1,011 sqm at 63 Garfield Terrace where they were planning Escape, a 35-level tower with 31 whole-floor apartments. Winx breeder John Camilieri paid $37 million for the site.

Sydney billionaire Sam Arnaout's Iris Capital still holds 900 sqm and has <a href="/news/qld/iris-capital-secure-garfield-terrace-apartment-approval">approved plans</a> for a 38-level, 51-unit tower.

<img alt="Seren" data-entity-type="file" data-entity-uuid="114adb16-45d8-46d6-b3a5-a3373dce7cda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-29%20at%202.49.10%E2%80%AFPM_0.png?VersionId=B8zwvpgxFJyq7yZ9nEhTy4w8Njboxdqi" />A render of Serēn.

&nbsp;

<figure>&nbsp;</figure>

The latest Colliers Apartment Market Report shows a surge in demand for premium beachfront residential development opportunities across the Gold Coast, with several transactions already exceeding $30 million in 2024.

“Despite market challenges, demand for premium sites has remained remarkably resilient,” said Troy Linnane, Director of Collier’s Residential.

“These high-quality sites are offering end values that continue to support necessary returns for project feasibilities, making them incredibly attractive investments.”

Colliers Gold Coast notes there has been no sign of a decline in site values, underlining the strength and confidence in this sector.

The appetite for luxury, owner-occupied properties in sought-after beachside locations continues to underpin the region’s market activity, demonstrating that the allure of the Gold Coast remains undiminished.

<img alt="Gold Coast" data-entity-type="file" data-entity-uuid="87da824a-a348-4f72-9c8e-31710f5fd25d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-25%20at%208.29.12%E2%80%AFAM_2.png?VersionId=BbpziWH4AVEeLZqZvLgnQ1aWg5EhWyzf" />

Developers are increasingly recognising the strategic advantage of bringing construction in-house, a trend identified in the Colliers Apartment Market Report as essential for managing timelines and costs amidst ongoing constraints in external builder capacity.

This move has proven critical in delivering projects on time, with many developers leveraging their in-house capabilities to stay ahead in an industry facing an unprecedented capacity crunch.

The report predicts that the demand-supply imbalance will persist into 2025, further driving gross realisations across the market.

The dwindling supply of new units presents developers with a unique opportunity to meet demand, particularly for properties under the $2 million mark that cater to a broader buyer pool.

“Local developers who have the experience and build solutions in place are particularly well-positioned to capitalise on these opportunities,” said Jackson Robinson, Residential Executive at Collier’s Gold Coast.

“The ability to deliver viable, premium products at a range of price points is proving to be a competitive advantage in the current market, especially as the constraints on builder capacity are expected to continue 
into the new year.”

Joel Robinson

First look: KTQ sell Garfield Terrace site for $56 million as demand soars for Gold Coast beachfront sites

Sydney builder developer Luxcon Group's debut <a href="/developments/gold-coast-qld">Gold Coast apartment development</a>, Escape, is set to begin its construction phase after securing $75 million worth of sales in the Garfield Terrace, <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>&nbsp;building.

The $250 million <a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise">Escape</a> comprises 31 full-floor private residences and two double-level penthouses. Nine apartments have sold so far, predominantly to Gold Coast locals.

The apartments, priced from $6.45 million, each have 360-degree views of Gold Coast’s famous shoreline and its beaches, as well as the hinterland.

[smartcode_project:default project_id=113448 project_image_fid=221791]

Project sales and marketing agency TOTAL Property Group saying the sales, secured before the display gallery was opened, demonstrated the “unprecedented” high demand for ultra-premium apartments in Gold Coast’s most desirable beachfront location.&nbsp;

TOTAL Property Group Managing Director Adrian Parsons says demand for Escape’s elite full-floor sky home apartments can be attributed to the absolute beachfront location, the quality of the architectural and interior design and confidence in the builder developer's reputation for the impeccable level of attention taken to deliver some of Australia’s most prestigious private apartment residences.

“Luxcon is a vertically integrated builder developer with a strong reputation for successfully delivering ultra-luxury residential projects in some of Australia’s most highly desirable and exclusive locations,” Parsons said.

“They have an impressive portfolio of award-winning high-end developments in Sydney and Melbourne’s exclusive residential areas and this gives prestige property purchasers a great deal of confidence when buying off the plan.

“Being an award-winning builder-developer that specialises in the construction and delivery of exclusive ultra-luxury residential projects, we expect apartment sales to increase when construction begins.

“The opportunity to develop a premium absolute beachfront site and an unprecedented demand for this type of luxury on the Gold Coast motivated Luxcon Group to create a premium apartment development and offer two different floor plans that meet the unique needs and wants of prestige property purchasers."

[smartcode_project:default project_id=113448 project_image_fid=221792]

Buyers of the full-floor sky homes, designed by PBD Architecture with interiors by Coco Republic, have the option of two floorplan configurations that include one with a master bedroom on the beachfront for people who want to wake up and look at the ocean and the second floorplan for people who want to maximise their living and entertaining spaces looking out to the beach and ocean. The floorplans range from 311 sqm to 293 sqm.

Exclusive residents’ amenities include a beachfront pool, outdoor lounge and cabanas, surfboard storage, oceanfront business centre with boardroom facilities, private fitness centre, and sauna and steam room.

[smartcode_project:default project_id=113448 project_image_fid=221790]

Parsons says the&nbsp;architectural design and two whole floors of extensive five-star amenities have been extremely favourable with apartment buyers.

<a href="/developers/luxcon-group">Luxcon Group’s </a>Founder and Managing Director Ilya Melnikoff said it was encouraging to see early market acceptance for the Group’s first Gold Coast development of five-star private sky home residences at Escape.

“Working with PBD Architecture, Coco Republic and TOTAL Property Group in planning Escape, the focus was to create a point of difference in the beachfront apartment living with Australia’s natural coastal beauty and complement the unique cosmopolitan style of the Gold Coast,” Melnikoff said.

“Our vision for Escape is to offer beachfront residences characterised by unparalleled style and quality.

"We are thrilled by the incredibly positive reception, particularly from local buyers who are demonstrating strong confidence in the development. As the builder and developer responsible for delivering this project, we will ensure the building will be delivered to the same ethos as we show in all of our marketing and past projects and philosophy that will follow throughout our project.”

[smartcode_project_cta:default project_id=113448]

Adrian Parsons says the architectural design and two whole floors of extensive five-star amenities have been extremely favourable with apartment buyers.

Luxcon to commence construction on Escape, Surfers Paradise apartments after first release sellout

Luxury builder developer <a href="/developers/luxcon-group">Luxcon Group </a>is bringing one of the most impressive towers the <a href="/developments/gold-coast-qld">Gold Coast's</a> most elite beachfront strip, Garfield Terrace.

The project, <a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise">Escape</a>, is <a href="/developers/luxcon-group">Luxcon</a> Managing Director Ilya Melnikoff's first project on the <a href="/developments/gold-coast-qld">Gold Coast</a> off the back of significant mixed-use developments in Sydney and Melbourne.

<a href="/developers/luxcon-group">Luxcon</a> acquired the site after negotiating with 12 unit owners to amalgamate the 1011 sqm site at 63-65 Garfield Terrace in <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>.

[smartcode_project:default project_id=113448 project_image_fid=206730]

The PBD Architects-designed <a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise">Escape</a> will rise to 35 levels with a unique diamond truss design, accommodating a boutique collection of just 31 whole-floor apartments starting from nearly 300 sqm.

The apartments come in two configurations: a three-bedroom and four-bedroom plus multi-purpose room. They are priced from $6,125,000.

There are also two double-storey penthouses, which will take up two full floors each.

[smartcode_project:default project_id=113448 project_image_fid=221791]

A diamond truss at the podium level and different textures and colours emphasise the tower's taper and set it apart from the neighbouring mid-rise towers.&nbsp;

<a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise">Escape</a> offers a 14-metre ocean frontage with 360-degree Surfers Paradise skyline and beach views South to Coolangatta to each apartment.

Coco Republic have been tasked with the interiors of the apartments which feature&nbsp;grand three-metre-high ceilings,&nbsp;bespoke joinery, and marble and timber flooring.

Living areas will feature fireplaces and lead to large, ocean-facing balconies.

[smartcode_project:default project_id=113448 project_image_fid=221793]

Expansive gourmet kitchens will be well-appointed with Swiss-made V-Zug appliances, adjoining a butler’s pantries and bespoke wine cabinetry.

Extravagant master suites have their full-length balcony, double walk-in robes and large ensuite with under-floor heating and a freestanding bathtub.

Melnikoff said the project is aimed at high-end owner-occupiers looking to move to the coast from NSW, Victoria and Brisbane.

<a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise">Escape</a> is slated for completion in late 2025.

[smartcode_project_cta:default project_id=113448]

Luxcon acquired the site after negotiating with 12 unit owners to amalgamate the 1011 sqm site at 63-65 Garfield Terrace in Surfers Paradise

Urban Editorial

Absolute luxury, absolute beachfront: Inside Luxcon's Surfers Paradise apartment development, Escape

Prominent luxury property developer Luxcon Group are set to break into two new markets.

The Sydney-based developer, who has a string of high-end projects across Sydney's eastern suburbs and Melbourne, is set to launch two new high-end projects in Surfers Paradise and Byron Bay.

The two projects, Escape in Surfers Paradise on Garfield Terrace and Bohemian in Byron Bay on Jonson Street, located on the popular tourist spots most sought-after streets, will be part of Luxcon's new Coastal Collection.

Escape, Luxcon's first project in Queensland, will comprise 28 full floor and dual level penthouse-style residences, each with four bedrooms. There will be two floors of amenities including a pool, gym, sauna and spa.

[smartcode_project:default project_id=113448 project_image_fid=206730]

Sydney architecture firm PBD Architects suggested in their design statement submitted as part of the development application process back in July that Escape&nbsp;will be an iconic tower overlooking the ocean from the coast of Surfers Paradise, towering out amongst the Gold Coast cityscape as a new destination for those looking for resort-style luxury living.

"Its uniqueness is comparably contemporary and "edgy" amongst a sea of beachfront architecture incorporating coastal curvature and sleek ripple effects in their designs. It also creates a highly sophisticated urban design," PBD noted.

[smartcode_project:default project_id=113448 project_image_fid=206732]

"Inspired by the natural transition or movement from the coast to the air by the cooling coastal breeze, Japanese art of paper folding, origami, a simple rectangular paper begins to articulately transform into a sculptural object."

PBD were also in charge of the designs for&nbsp;Bohemian at 96 Jonson Street Byron Bay. That will home 44 two and three-bedroom apartments, at the heart of Byron Bay’s main strip and just moments to the beach.

[smartcode_project:default project_id=108275 project_image_fid=206721]

The Byron Bay project will sit above a 1,750sqm retail shopping and international food plaza and will also include a rooftop terrace with infinity edge pool, gym and spa.

Both developments will feature VZUG Swiss appliances and interiors by Coco Republic.

The Bohemian and Escape developments will see prices start from $2.2 million.

[smartcode_project:default project_id=108275 project_image_fid=206722]

Highland Project Marketing CEO David Highland, who secured quick-fire sales at the Sydney-based Sammut's Coast development down the road, said&nbsp;it is a pleasure working alongside such a highly credentialed developer to bring the exclusive range of apartments to market.

“It is incredibly rewarding to be collaborating with Luxcon to deliver these projects and doing the unveiling at Margaret was phenomenal,” Mr. Highland said.

“We never expected anything less from Neil Perry, but with Margaret he raised the stakes and having him there on the night was just wonderful.”

Luxcon Director Ilya Melnikoff said the team are excited to have launched the projects to market and look forward to what is to come.

“We have worked closely with PBD Architects to evolve a design that is both sophisticated and functional, capturing the essence of true coastal luxury living,” Melnikoff said.

Luxcon Director Ilya Melnikoff said the team are excited to have launched the projects to market and look forward to what is to come

Luxcon launch new Coastal Collection apartments in Surfers Paradise and Byron Bay

The Sydney-based luxury apartment developer Luxcon Group is breaking into the Gold Coast apartment market, and they&#39;re doing it on&nbsp;Surfers Paradise&#39;s prime beachfront strip.

Luxcon, headed by Ilya Melnikoff, are set to create Escape, a 30-level tower with just 28 apartments.

It will replace the ageing apartment development Sea Breeze at 63-65 Garfield Terrace.

PBD Architects say Escape&nbsp;will be an iconic tower overlooking the ocean from the coast of Surfers Paradise, towering out amongst the Gold Coast cityscape as a new destination for those looking for resort-style luxury living.

&quot;The Garfield tower will rise 30 storeys refining the luxury residential buildings in Gold Coast,&quot; PBD noted in their design statement submitted to the local council.

<a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise"><img alt="" height="714" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-20_at_9.38.01_am.png" width="1154" /></a> 
The planned Escape on Garfield Terrace. Image credit: PBD Architects

&quot;Its uniqueness is comparably contemporary and &quot;edgy&quot; amongst a sea of beachfront architecture incorporating coastal curvature and sleek ripple effects in their designs. It also creates a highly sophisticated urban design.

&quot;The building enthusiastically embraces its iconic role by contributing to the vibrant skyline of the coast, whilst also providing opportunities for stunning vistas of the ocean, the Nerang River, and the greater city.

&quot;Inspired by the natural transition or movement from the coast to the air by the cooling coastal breeze, Japanese art of paper folding, origami, a simple rectangular paper begins to articulately transform into a sculptural object.&quot;

<a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise"><img alt="" height="704" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-20_at_9.38.15_am.png" width="1148" /></a> 
The planned Escape on Garfield Terrace. Image credit: PBD Architects

There will be a three-level podium which will home the resident amenity.

The ground level will feature lounges and cabanas that will be an outdoor barbecue space set in lush landscaping. Level one will home the start of the fitness centre, a&nbsp;gym facing the beach. That will be feature a spiral staircase&nbsp;which leads to the lap pool and spa, steam room, sauna and changing rooms.

The apartments start from level three, with 270 sqm, full floor three-bedroom apartments, each with their own cellar, butler&#39;s pantry, and second living space at the rear of the apartment. The main open plan kitchen, living and dining area opens to an ocean-facing balcony, as does the master suite which has a walk in wardrobe and ensuite.

Topping the building is a huge two-level penthouse, spanning 440 sqm of living area. That will have four bedrooms, its own home office, and a wine room.

<a href="/new-apartments/escape-surfers-paradise-63-garfield-terrace-surfers-paradise"><img alt="" height="692" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-20_at_9.38.10_am.png" width="1140" /></a> 
The planned Escape on Garfield Terrace. Image credit: PBD Architects

It&#39;s the latest plans for the busy Garfield Terrace, which is set for a huge redevelopment.

In December Iris Capital, who are developing the $800 million V&amp;A Broadbeach, filed plans for a 38-level tower at 71 Garfield Terrace, just a few doors down. That will have 51 apartments and a two-level beach house.

Another aimed at the high end holiday maker or owner-occupier, the smallest apartments on offer will have three bedrooms and span half a floor, oriented to have ocean-facing balconies.

They run over half way up the tower, before hitting the resident&nbsp;facilities on level 24 where there will be a swimming pool and pool deck, a gym with a sauna, and an outdoor barbecue and dining area.

<img alt="" height="829" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/iris_garfield_2_0.jpg" width="1200" /> 
The planned Iris Capital tower 71 on Garfield. Image credit: DBI Architects

Up to level 33 will be the full-floor, four bedroom apartments, each with a study and private plunge pool on the balcony.

Next door Weiya Holdings recently secured approval for&nbsp;Aalto, which will also rise 38 levels. It will have 64 apartments designed by&nbsp;Conrad Gargett.

Down the street KTQ are creating something different, something the Coast hasn&#39;t seen before.

Serēn (pronounced serene),&nbsp;will comprise an independent luxury, 60-room hotel, which will&nbsp;occupy levels three to six. Above, after the separate&nbsp;hotel and the residences pool and recreation decks, will be 60 apartments, spanning a huge 350 sqm each and offering three-bedrooms and a multi-purpose room.

Toward the pointy end of the 42-level tower will be full floor apartments and a special two-level penthouse.

Luxcon was established in 2008 by Founder and Managing Director Ilya Melnikoff, and have developed a number of luxury projects, primarily in Sydney&#39;s eastern suburbs. They have a number of projects in the pipeline in some of Melbourne&#39;s best suburbs as well, including The Address overlooking Fitzroy Gardens.

PBD Architects say Escape will be an iconic tower overlooking the ocean from the coast of Surfers Paradise



First look exclusive: Luxcon set for origami-inspired apartment development on Surfers Paradise beachfront

Bill McWilliams, the chief investment officer at MaxCap Group, reckons the recent macroprudential intervention from APRA was unlikely to have a material impact on house prices or credit growth.

&quot;We do not expect there to be any constraint in buyer demand for either apartments or house and land packages as a result of the intervention, with appetite to continue to be driven by supply and demand fundamentals,&quot; McWilliams said.&nbsp;

MaxCap is a leading real estate finance and investment manager.

&quot;We do however expect APRA will continue to monitor LVR&rsquo;s and Debt to Income Ratio&rsquo;s for new lending closely, and depending on trends, this could lead to a series of progressive interventions, as happened in 2014 and 2017.&quot;

The recent macroprudential intervention from APRA requires lenders to include an additional 0.5% servicing buffer.

McWilliams said this was &quot;was consistent with our expectations given the recent growth in housing credit at moderately higher debt to income ratios.

&quot;We consider this to be a subtle change only which has been implemented to improve the resilience of borrowers in periods of economic shock by creating a larger servicing buffer.&nbsp;

&quot;Our view is that such a slight change to affordability is unlikely to have a material impact to house prices or credit growth, as less than 10% of home loan applications borrow at capacity.

&quot;APRA itself said &ldquo;the overall impact on aggregate housing credit growth flowing from this is expected to be fairly modest&rdquo;.

Founded in 2007, MaxCap have originated and managed more than $12.3bn of Australian CRE debt across more than 450 loans, with current funds under management and advice of $4.1bn.

Earlier this month McWilliams joined the team at Landream and V-Leader to break ground on the project The International in Brighton, which is being funded by MaxCap.

[smartcode_project:default project_id=26389 project_image_fid=71849]

MaxCap has provided a first mortgage construction facility to S&amp;S Projects for their 11-storey luxury boutique apartment project, Awaken on the Gold Coast.

MaxCap has funded Salvo&rsquo;s mixed-use residential project in Melbourne&rsquo;s Southbank, with the non-bank lender providing a $75 million first-mortgage for the development of Stature, a 35-level mixed-use tower with 175 apartments, commercial office space and ground floor retail space at 35-51 Hanco​ ck Street.

MaxCap Group recently delivered a first mortgage construction facility to Lu​ xcon for the development of its East Melbourne apartment complex.

A $76m debt facility covers land and construction funding for The Address.

Marketing commenced for in late February 2021 with the Sydney-based developer Lu​ xcon securing strong off the pl​ an sales in its first project in Melbourne.

The $125-million, 23 apartment development overlooks Fitzroy Gardens saw five local buyers seek out the apartments prior to their recent official launch.

The 10-storey park-side development at 372-380 Albert Street in East Melbourne features two-, three- and four-bedroom apartments.

The two-bedroom apartments are priced from $2.5 million to $3.15 million and three-bedroom apartments, from $4.5 million to $5.35 million.

The three-bedroom, plus study, sub penthouses are price at $8 million to $8.75 million.

The penthouse is priced at $25 million with its own lap pool.

All of the apartments will have outdoor areas in the Woods Bagot-designed complex.

The first five sales were secured by April with about 95 per cent of inquiry being downsizes from larger homes across Melbourne.

The apartment project will replace a nine-level office building acquired for $30 million in May last year from entrepreneur Nathan Cher, the co-founder of the Run Property Group.

&ldquo;Industry research suggests that East Melbourne is short of apartment sites for developments,&quot; said MaxCap&rsquo;s chief investment officer, Bill McWilliams.&nbsp;

&ldquo;There is significant demand in the East Melbourne area with purchasers looking for quality mid to high rise towers,&rdquo; Mr McWilliams said.&nbsp;

&ldquo;Demand is reportedly strong in the $2m - $5m range and we have seen sales at the level of $30,000 per square metre and above in several recent transactions.

Luxcon&#39;s managing director Ilya Melnikoff recently acquired its second trophy apartment sites in inner Melbourne.

It purchased the Beacon Cove Food Store site in Port Melbourne for $16.65 million. The 1400 sqm site at 103 Beach Street, across the road from Station Pier, was acquired from Melbourne developer V-Leader, which paid $11.2 million for it in 2017.

The East Melbourne project is expected to be complete by December 2022.

Lexicon&#39;s completed Sydney projects include The Aristocrat of Rose Bay at 62A Dover Road, Rose Bay; Jardine at 35 Oxford Street, Epping, and 88 Kensington at 88 Anzac Parade, Kensington.

Bill McWilliams, MaxCap’s CIO, expects APRA will continue to monitor LVR’s and Debt to Income Ratio’s for new lending closely in 2022

jchancellor-FAypfDUnLy

MaxCap expect appetite for apartment projects to get through APRA tightening

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The penthouse at Fortis’ No.1 Carlisle development in Sydney’s Rose Bay, which was rumoured to have sold for an impressive $7.5 million last month, sold in less than three hours of launch.

Ray White agents Michael Finger and Di Wilson are rumoured to have secured $39,000 per sqm for the three-bedroom, two-bathroom apartment.

Situated on the top floor of the four-storey 1 Carlisle Road complex, the development offers direct lift access into the private lobby, an entertainers’ terrace and built-in living joinery.

Designed by MHNDU and Lawless &amp; Meyerson, the home utilises layered natural materials and an architectural design that pays homage to the Art Deco period.

“There’s a recurring linear texture echoed around the apartment through fluted glass and routed stone”, said Jo Lawless of Lawless &amp; Meyerson.

The penthouse includes an entertainer’s kitchen, gas fireplace, butler’s pantry and skylights. Other features within the home include a privately-landscaped rooftop terrace styled by Wyer &amp; Co landscape architects.

Construction on the project is expected to reach completion in early 2022.

<h2>Rose Bay luxury residences</h2>

The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb. These include the recently sold-out Newcastle Street development, The Benson and Richmond Rose.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-benson-33-newcastle-street-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Benson"><img alt="" class="image-article-full-width-580px" height="481" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-benson-33-newcastle-street-rose-bay-64799b46e7e39113cb2e87135af83a7d.jpg?itok=HEYEdtMw" title="The Benson" width="580"></a>

<figcaption>The Benson</figcaption></figure>Developed by Fortis, prices at the nine residence Benson project equated to $30,000 per sqm, with designs also completed by MHNDU and Wyer &amp; Co. The home’s interiors, which offered contemporary design, quality fixtures and pale-oak flooring, were designed by Hecker Guthrie.

Veteran children’s TV presenter Don Spencer purchased in the development just last month.  

Richmond Rose, developed by Kew Prestige, continues to offer available apartments at their 6-8 Richmond Road site.

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/6-8-richmond-road-rose-bay" rel="gallery-all" title="Richmond Rose"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/richmond-rose_outside_lge-scaled.jpg?itok=cgwWtAp-" title="Richmond Rose" width="580"></a>

<figcaption>Richmond Rose</figcaption></figure>Two three and four-bedroom apartments sit on each level, featuring open-plan dining, a pet wash bay on the ground floor and Tesla battery for power storage.

Lush balcony landscaping seems to be a feature of all new Rose Bay developments with The Aristocrat of Rose Bay also featuring foliage in the design.

Located at 62A Dover Road, the Aristocrat offers 22 two and three-bedroom configurations, a grand lobby, communal courtyard, a pool and a gym. Designed by PBD Architects, the homes include quality joinery, open-plan living and dining, spacious balconies and herringbone floors.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-aristocrat-of-rose-bay-62a-dover-road-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Aristocrat"><img alt="" class="image-article-full-width-580px" height="398" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_aristocrat.jpg?itok=OSf3L21a" title="The Aristocrat" width="580"></a>

<figcaption>The Aristocrat</figcaption></figure>Rose Bay is located just seven kilometres east of Sydney and these developments provide evidence of the demand for new luxury developments in the area.
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The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb

Luxcon Group

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