<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Joel Robinson

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

WINIM is set to launch its Parnell House Penthouses in Newcastle this month, atop a new 46-room luxury hotel.

The penthouses, Sand and Dune, will offer something Newcastle hasn't seen before.&nbsp;

Designed by SDA Architects and MXM Design in collaboration, the twin penthouses, priced at $10 million and $14 million, occupy the entire rooftop of the boutique hotel, Parnell House.

Parnell House will reside within a celebrated heritage building at 21 Parnell Place, the former Newcastle Beach Hotel, artfully re-imagined. Alongside the luxury accommodation is a café, bar, restaurant and wellness spa.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="eb2ac439-e0b6-4fb8-a2bf-d6fc46038b9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-08%20at%204.34.51%20pm.png?VersionId=PNsuEwFxHWKC1LWi_rCRElr1I4yv3r85" />

The $10 million, three-bedroom penthouse will have 191 sqm of internal living space and 78 sqm of terraces, while the adjoining four-bedroom penthouse will have 245 sqm internally and 123 sqm of terraces.

The penthouses pay homage to the barefoot nostalgia of Newcastle’s past while setting a new benchmark for the future. They feature abundant light, organic curves and natural materials, with high-end finishes and hand-crafted pieces throughout.

Each penthouse has an expansive entertaining space with a covered outdoor kitchen, dining terrace and sun deck leading to a private plunge pool nestled in a private courtyard.

Residents will have access to resort-style services from Parnell House, including five-star dining without leaving home, room service, hotel concierge and cleaning services.&nbsp;

Construction on Parnell will begin in August 2024, with completion expected in Q3 2025.

<img alt="Penthouse" data-entity-type="file" data-entity-uuid="1c2e5f6d-fcac-4a35-babd-dae48696f830" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-08%20at%204.35.02%20pm.png?VersionId=OJMTiv3DbY_Eof9r3i2QZ288BHgv2uca" />

Leading hospitality and management company EVT, which&nbsp;currently manages 80 hotels and 12,000 rooms across Asia Pacific with brands such as QT, Rydges, will operate the hotel.

According to a March report by CoreLogic, high-end home prices have been on the rise in Newcastle since the pandemic. There's been a string of multimillion-dollar sales over the past 12 months, including a city penthouse apartment for $8.5 million in The Royal Apartments building on King Street.

The rise in high-end properties accompanies broader economic and regional growth, including population, commerce, education, and infrastructure investments. The city’s population grew by nearly one per cent between 2023 and 2024, buoyed by Newcastle University’s expansion, the reopening of the Royal Newcastle Private Hospital following a $1 billion investment, and the expansion and upgrade of Newcastle Airport.

High-end buyers moving into the city are a mix of Sydneysiders, Melburnians, and Hunter Valley locals, drawn by its mix of natural beauty, community atmosphere, career opportunities, and cultural activities.

Newcastle is also well-connected locally and nationally, with a compact city that’s easy to navigate and good public transport, making it convenient for residents to commute and explore.

Parnell House will reside within a celebrated heritage building at 21 Parnell Place, the former Newcastle Beach Hotel, artfully re-imagined

First look: WINIM reveal Newcastle's most expensive penthouses atop Parnell House

Sydney’s iconic Coogee Bay Hotel is set for a transformation.

Plans have now been approved to transform the landmark watering hole and hotel on the corner of Arden Street and Coogee Bay Road, creating new hotel rooms, a refurbishment of the current building, and the addition of a shoptop housing development with 58 apartments, 11 retail premises, and an internal laneway from Coogee Bay Road.

The approval comes after more than four years of design and planning, discussions with stakeholders, community consultation and mediation between the owners of the <a href="/developments/coogee-nsw-2034">Coogee</a> Bay Hotel and <a href="/developments/randwick-nsw">Randwick</a> City Council. &nbsp;

The Sydney Eastern City Planning Panel&nbsp;granted a Deferred Commencement Consent, consent that will become operational once there has been a resolution of a noise management plan with Randwick City Council.&nbsp;

In their determination, the Panel considered the major changes made by the applicant to their original development application lodged in July 2021. These included an improvement of bulk and scale, a reduction in height, removal of the proposed supermarket and improvement of urban form and amenity. It was also noted by the Panel that view loss was reduced by the amended plans.&nbsp;

<img alt="Coogee Bay Hotel redevelopment gets the green light - internal laneway" data-entity-type="file" data-entity-uuid="d40acb8d-20ea-42ce-919d-901766674e83" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Coogee%20Bay%20Hotel%20Redevelopment%20Internal%20Lanway%20from%20Coogee%20Bay%20Road%20to%20Arden%20Street.jpg?VersionId=_J8cZuNHA6PjB36ZsvFxzdjRoelvecMv" />

Chris Cheung, Managing Director of the Coogee Bay Hotel, said: “We are happy to be finally moving forward and excited to deliver a renewed Coogee Bay Hotel that will reinvigorate the &nbsp;Precinct. &nbsp;

“This significant 8500 sqm site is in the heart of Coogee, provides a gateway to the oceanfront, and offers excellent access to services and public transport," Cheung said."&nbsp;&nbsp;

“As members of the community for the past 30 years, we understand the local environment and believe our plans will better integrate the hotel within the community and reinvigorate the entire site. The proposal will enhance the heritage elements of the hotel building, upgrade its accommodation offering, create a wider range of entertainment, dining options and public meeting spaces, and create a more family-friendly environment. &nbsp;

“Re-casting the Coogee Bay Hotel as a more family-friendly place will improve social outcomes, add value to local business, boost the local economy and complement the character of the local area."

<img alt="Coogee Bay Hotel redevelopment gets the green light - vicar street" data-entity-type="file" data-entity-uuid="2bcbf36e-e823-4ca2-8ee2-4b68b855afec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Coogee%20Bay%20Hotel%20Redevelopment%20from%20Vicar%20Street.jpg?VersionId=akWABmOSGS2gAHA1JA828IwEejnLc9SI" />

The approval includes the demolition of buildings, works to the Coogee Bay Hotel including refurbishment to provide for 18 hotel rooms, a new three-storey building to the southern side of the beer garden with 13 new hotel rooms (resulting in a total of 31 hotel rooms), construction of five/six storey shop top housing comprising 58 dwellings, 11 retail premises, internal laneway from Coogee Bay Road, basement parking for 158 cars, subdivision, landscaping and associated works. &nbsp;

Discussions between the owners and Randwick City Council on the redevelopment proposal began in 2019. &nbsp;

The original development application was lodged in July 2021 and an 18-month mediation process with Randwick City Council in the Land and Environment Court has led to the grant of the Development Consent. &nbsp;

Discussions between the owners and Randwick City Council on the redevelopment proposal began in 2019

Coogee Bay Hotel redevelopment gets the green light after five years of planning

Woolworths Group's proposal for a mixed-use development in Waterloo is taking a significant step forward with its recent determination approval.

Their development arm Fabcot <a href="/news/nsw/woolworths-venture-into-apartment-projects-starting-in-sydneys-waterloo">moved into the residential development sector</a> around three years ago, signalling their intent first in Waterloo, before revealing more projects in Neutral Bay and Rose Bay.

The planning proposal for their site at 923-935 Bourke Street, <a href="/developments/waterloo-nsw-2017">Waterloo</a>, which garnered unanimous support from the Central <a href="/developments/sydney-nsw">Sydney</a> Planning Committee (CSPC) and the City of Sydney Council in late 2023, was officially gazetted in March 2024.

Concept plans have been put together by <a href="/architects/bates-smart" target="">Bates Smart</a> for the development, which will see apartments sit above a new Woolworths Metro, with some dedicated to affordable housing for key workers. At this stage, all images are concept plans.

<img alt="Woolworths Group receive determination approval for Waterloo mixed-use" data-entity-type="file" data-entity-uuid="e44d1932-f8e0-4395-adad-d65f1f6f6795" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/woolworths-waterloo-design-features.jpg?VersionId=E.VxfkxoBcjztrMcRxIO1gx2sEnmnYqG" />

Waterloo and its neighbouring suburbs have witnessed substantial population growth in recent years, with projections indicating an influx of approximately 40,000 new residents by 2036.

Despite this growth, the area remains underserved by full-line supermarkets, making Woolworths' mixed-use development a significant addition to address a 9000-sqm undersupply of supermarket floor space in the area.

Once completed, the development is expected to become a vibrant local hub offering not only a full-line Woolworths supermarket but a range of amenities, including 2000 sqm of commercial space, 1500 sqm of specialty retail, dining options, landscaped open areas, and 120 architecturally designed apartments.&nbsp;

A Design Excellence Competition was conducted to select the project's architect, with the winner to be announced in June 2024.

<img alt="Waterloo" data-entity-type="file" data-entity-uuid="35748dce-8d01-4020-b6bb-b665347a3a90" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-08%20at%2010.25.36%20am.png?VersionId=FxYZGw2Gh8YkjACuDTitcPt8Eklbydsv" />

The project also encompasses pedestrianised through-site links, retention of over 80 per cent of existing street trees and provision of 10 per cent affordable housing.

In addition to meeting the housing and retail needs of the community, the development will exceed BASIX requirements and support the City of Sydney’s Net Zero 2026 initiatives.&nbsp;

The strategic location of the mixed-use development, being a 10-minute walk to public transport including Green Square Train Station and Waterloo Metro Station, along with its proximity to parks, cafes, and other local attractions, makes it an increasingly desirable and accessible area to residents and visitors alike.

The development is expected to become a vibrant local hub offering a full-line Woolworths, 2000 sqm of commercial space, 1500 sqm of specialty retail, dining options and 120 apartments. 

Woolworths receive determination approval for mixed-use Waterloo development

The burgeoning Stones Corner in Brisbane, on the fringe of the Woolloongabba Olympic precinct, is set for a new apartment development with the recent approval of a two-tower project just off Hanlon Park.

Peter Gartshore from the family-ran Idec Group is behind the plans on the 3,846 sqm site at <a href="/new-apartments/73-85-cleveland-street-stones-corner">73-85 Cleveland Street</a>, which will feature a striking skybridge connecting the two recreational rooftops designed by NMDS Architecture.

The development will have 226 apartments, split into 79 one-bedroom apartments, 83 two-bedders, 62 three-bedroom units, and only two four-bedroom apartments.

The skybridge will connect the two rooftop recreation areas that total 1273 sqm, allowing residents from both towers to access the full range of recreational facilities that include&nbsp;a pool, spa, terrace area, gym, sauna, showers, change rooms, alfresco and indoor dining areas, a theatre, community garden, and a dedicated dog walking area.

The submitted town planning report highlights the strategic importance of the proposed site in&nbsp;<a href="/developments/stones-corner-qld-4120">Stones Corner</a>, stating that it falls within a growth node on a selected transport corridor identified under the City Plan. It emphasises that areas within these nodes offer opportunities for more intense urban forms that cater to the needs of the local community.

<img alt="Twin tower apartment development proposed for Stones Corner" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-16%20at%2010.57.15%20am_0.png?VersionId=HA9ugUKWWoVT.sMLNezZta6A1OGOH1dn" />Render of the proposed twin tower&nbsp;<a href="/developments/stones-corner-qld-4120">Stones Corner</a>&nbsp;development. Credit: NMDA Architecture

The report emphasises the housing crisis in the southeast Queensland region, with low rental and housing stock levels, and states that the project will provide 226 additional housing opportunities near centres, community services, and transport options.

<a href="/developments/stones-corner-qld-4120">Stones Corner</a>, located just over two kilometres from Woolloongabba, the home of the 2032 Olympic Games, is undergoing significant urban transformation with the aim of residential and mixed-use densification.<img alt="Twin tower apartment development proposed for Stones Corner" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-16%20at%2010.57.40%20am.png?VersionId=gqA7E4EGRrPWzlrhMaNWTPJ1RuYS0exI" />Render of the proposed twin tower&nbsp;<a href="/developments/stones-corner-qld-4120">Stones Corner</a>&nbsp;development. Credit: NMDA Architecture

The development will prioritise green spaces and landscaping. The landscaping design by Wild Studio includes vertical green walls extending the full height of the building, feature trees at the main entrance on Cleveland Street, raised garden beds, and planter boxes with climbing and cascading plants.

The integration of greenery aims to create a vertical, subtropical micro-climate that enhances the building's appearance, provides cooling to residents, and contributes to the overall streetscape.

The development will include three basement levels with space for 330 cars. While the area is well-serviced by public transport, alternative transportation options will also be provided to residents. A car share system will enable those without vehicles to access ten electric vehicles, and there will be ample bicycle parking spaces, 283 in total, supported by an on-site bicycle workshop.

The project will comprise 226 apartments ranging from one to four bedrooms on a 3,846 sqm site at 75-85 Cleveland Street

New apartment development approved for Stones Corner

Latent Defects Insurance (LDI), is changing the game for off the plan apartment buyers in Australia.

This insurance product provides off-the-plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in. The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

Some of Sydney’s biggest and most respected developers have embraced the new insurance. The likes of Deicorp, Kanebridge, <a href="/developers/abadeen-group">Abadeen</a>, Coronation Property and Urban Property Group have rolled out the insurance across some, if not all of the projects they’re currently undertaking.&nbsp;

Sydney-based Resilience Insurance, the first insurer to launch LDI in Australia, is now taking the product national, and is having conversations with developers in Melbourne, Brisbane, the Gold Coast and Perth.&nbsp;

<h2>How does Latent Defects Insurance work?</h2>

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

[smartcode_project:default project_id=7106 project_image_fid=239175]

While giving confidence to the consumer at the end of the build, Resilience LDI is actually in place throughout the build process. Rather than it solely being used as a rectification product, the insurance kicks in to fix issues when they arise, rather than down the track following completion. Of course the insurance protects owners at that stage too, however the ideal scenario is any problems that come up during the building get fixed well before settlement.

Resilience has a string of expert partners who are onsite even before construction has started to ensure even the ground the development is being built on is structurally sound.

<h2>What does LDI mean for off the plan apartment buyers?</h2>

A survey undertaken by MatterFact, Apartments.com.au’s data product, shows the biggest thing holding back prospective purchasers from buying an off the plan apartment is the trust and faith they have in the developer, followed closely by the concern the build won’t be of good quality. It was a common consensus on the survey conducted from state to state, where delivery was much more of an issue raised compared to budgets, approvals or price of the apartment.

[smartcode_project:default project_id=112966 project_image_fid=213736]

“LDI is about to change the game in the off the plan apartment market,” Apartments.com.au CEO Mike Bird says, adding that the insurance will be a huge boost to helping solve Australia’s housing crisis.

“With the large imbalance of supply and demand in Australia, there has to be a move to off the plan apartments, but to get there, consumers need to be more confident in delivery.

“Unfortunately the industry has been tarnished by a small number of developers who haven’t acted on behalf of the consumer in the last five years or so. Developers who have Resilience LDI are telling consumers that they’re in a partnership with them, and they will deliver the quality that they promised. If they don’t, then the insurance protects the purchaser, without all the trials and tribulations of litigations and long, drawn out court cases which often cost thousands of dollars as well as significant upheaval whether it be mental or physical.

<h2>How does Latent Defects Insurance impact the developer?</h2>

Data collected by MatterFact also showed 60 per cent of off the plan apartment seekers would pay over 1.5 per cent of the apartment price for it to have LDI cover, which typically outweighs how much it costs a developer to purchase Resilience LDI.&nbsp;

Nugent says there have been instances already where developers have reported prices with a four to five per cent increase due to them having LDI, compared to similar projects in the same area.

[smartcode_project:default project_id=134951 project_image_fid=223715]

While there’s been a handful of progressive new tools to try and build confidence in the off the plan industry, such as the iCIRT-rating system and KMPG’s Building Trustworthy Indicator, no one has gone as far as Resilience LDI in terms of actual protection for an off the plan apartment buyer.

NSW Building Commissioner David Chandler recently lauded the introduction of LDI, suggesting it will improve the design and construction of apartment buildings in NSW.

“These reforms have come about due to the united commitment of government and industry to transform the NSW construction sector,” Chandler said.

“NSW is now in the position of being a national leader in offering an insurance product of this type for Class 2 buildings because of the three years of conscious effort and commitment by Government and industry to the journey we have been on under Construct NSW.

“We’re looking to clean up the market and bring an end to expensive litigation against developers who have deep pockets or subsequently vanish into thin air.”

To find out more about Resilience LDI, <a href="https://resilienceinsurance.com.au/">click here</a>.

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer

What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?

Melbourne developer Givoni Projects has revealed its latest apartment development.

After success in boutique apartment developments in Toorak and Prahran, Givoni, led by Paul Givoni, has launched <a href="/new-apartments/caulfield-north-110-112-balaclava-road-caulfield-north">Caulfield North Residences</a>, named after their location in <a href="/new-apartments/caulfield-north-vic-3161">Caulfield North</a>. Gary Peer is marketing the development of just 17 two and three-bedroom apartments which start from $1.65 million.

Designed by <a href="/architects/telha-clarke-architects">Tehla Clarke</a>, Caulfield North Residences exhibits a sense of elegance and grandeur characterised by its symmetrical forms, deep window reveals, and horizontal detailing, integrating with the surrounding landscape while exuding permanence.&nbsp;

The fusion of admired nuances of European Modernist architecture and contemporary attributes creates a welcoming and spacious environment inside the homes.

<img alt="Caulfield North" data-entity-type="file" data-entity-uuid="8c305b34-a7a9-4b63-aa56-30137c4ccfe3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-07%20at%2012.25.19%20pm.png?VersionId=VwdkPVWVXvEcFBFkYpsKbYUSaHr6aBnO" />

Generous living areas with timber floorboards meet floor-to-ceiling windows which maximise natural light and open to a balcony. The living spaces also meet the kitchens that feature stone countertops and state-of-the-art appliances and tapware.

Residents have the flexibility to combine floor plans and customise spaces according to their preferences, ensuring that each home reflects the unique style and preferences of its occupants.<img alt="Caulfield North" data-entity-type="file" data-entity-uuid="8823ce57-d0b4-4d75-8817-4ae5c3c4a0d3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-07%20at%2012.25.31%20pm.png?VersionId=kF104mErduIDOJ9wOVkE3Wr_D8tx.CiF" />

Caulfield North Residences come with single-level car parking for security and convenience, and the inclusion of EV charging stations within the garage underscores a commitment to sustainability and modernity.

Located at 110-112 Balaclava Road, Caulfield North Residences offer the perfect blend of tranquillity and accessibility, less than a 15-minute walk to Caulfield Park, a five-minute ride to Caulfield Racecourse, and a 27-minute drive to <a href="/new-apartments/melbourne-vic">Melbourne</a> CBD.

Caulfield North Residences is slated for completion in July 2025.

[smartcode_project_cta:default project_id=139176]

Located at 110-112 Balaclava Road, Caulfield North Residences offer the perfect blend of tranquillity and accessibility, less than a 15-minute walk to Caulfield Park, a five-minute ride to Caulfield Racecourse, and a 27-minute drive to Melbourne CBD

Launch Alert: New Caulfield North apartments revealed

Tim Forrester's Aria Property Group is set to continue its transformation of South Brisbane with another sustainable apartment development approved.

They've been given the green light by the Brisbane City Council to develop a new tower on a triple block at <a href="/new-apartments/164-190-melbourne-street-south-brisbane">164-190 Melbourne Street</a>, where the former Malouf's Fruit Shop and Bond's Sweet Factory once stood.

<img alt="ARIA Property Group South Brisbane apartment tower" data-entity-type="file" data-entity-uuid="4e4cefd0-ab13-4f32-ab2c-8a7077f95164" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ARIA%20South%20Brisbane%20podium.jpg?VersionId=Qvpj8vTV5gasTbYdKC.LL20ejymtsQym" />

The sustainably conscious developer, known for their signature rooftop amenity and sustainability efforts, will be constructing a new apartment tower at 33 Manning Street, on the corner of Melbourne and Manning Streets—the first of three towers across the amalgamated site.

Aria has collaborated with <a href="/architects/bates-smart">Bates Smart</a> and <a href="/architects/richards-and-spence">Richards &amp; Spence</a> for the design and development of the approved tower, slated to feature 84 apartments spread across 14 levels, along with extensive rooftop amenities.

The design statement submitted to the <a href="/new-apartments/brisbane-qld">Brisbane</a> City Council emphasised the tower's spacious dwellings catering to a diverse population, including families and students.

The design emphasises natural light, cross ventilation, and practical living considerations, including private bedrooms, generous kitchens, and flexible living spaces.&nbsp;

<img alt="ARIA Property Group South Brisbane apartment tower - pool" data-entity-type="file" data-entity-uuid="151973fe-6fd1-47e4-ac32-86c6e45b45d5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ARIA%20South%20Brisbane%20pool.jpg?VersionId=omiTiq1hYRaI1XODP3dMZajkJxWqDnO7" />

The tower's amenities include a commercial gym on the first level, a 20-metre pool at the heart of the rooftop, a plunge pool with city views, an amphitheatre for evening cinema, and a residents' dining room.

The new project adds to Aria's portfolio in <a href="/developments/south-brisbane-qld-4101">South Brisbane</a>, following their successful <a href="/new-apartments/trellis-20-edmondstone-street-south-brisbane">Trellis</a> development known for its sustainable features and their flagship development, <a href="/buildings/the-standard-13-17-manning-street-south-brisbane">The Standard</a>, located in the vibrant Fish Lane precinct.

[smartcode_project_cta:default project_id=112380]

The new project adds to Aria's portfolio in South Brisbane, following their successful Trellis development known for its sustainable features and their flagship development, The Standard, located in the vibrant Fish Lane precinct

Aria set for new South Brisbane apartment tower after council nod

Sydney's skyline is set to transform with the approval of new dual-tower development plans overlooking Hyde Park in the heart of the city.&nbsp;

The project, which is linked to Chinese developer Shimao Group Holdings, will comprise 259 apartments across two 28 and 30-level towers, set above commercial and street-level&nbsp;retail at <a href="/new-apartments/169-183-liverpool-street-sydney">175 Liverpool Street</a>.

&nbsp;

<img alt="Sicard Pty Ltd green lit for dual-tower apartment overlooking Hyde Park " data-entity-type="file" data-entity-uuid="0f690a00-e5c3-43b3-8af3-2c22fb918670" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Hyde%20Park%20Liverpool%20st.png?VersionId=EiLiXUnLjhXpspp0yp8rcqO.WXxvxJQr" />

The design, selected through a competitive process that highlighted <a href="/architects/bates-smart">Bates Smart</a> as the winning scheme, was praised for its thoughtful integration with the surrounding environment, including a respectful approach to the adjacent ANZAC War Memorial and Hyde Park.

"To respect the primacy of the Memorial we designed a ‘quiet’ building free from visual distractions and unnecessary formal manipulation, that would not distract from the visual prominence of the memorial," the statement read.

<img alt="Sicard Pty Ltd dual-tower apartment overlooking Hyde Park " data-entity-type="file" data-entity-uuid="faf55f44-9e38-4558-87a1-1a1604cf083f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Hyde%20Park%20podium.png?VersionId=dcw7NAN89zYwUHfXCxonWBVMeIxLSolf" />

The project's suitability for the site and its context, with careful consideration given to neighbouring developments, streetscape aesthetics, and the overall urban setting was one of the crucial aspects contributing to the approval of the proposal.

The mix of land uses, including residential, commercial, and retail, is also expected to invigorate the area's vitality without compromising environmental or amenity standards.&nbsp;

Moreover, amendments made to the initial proposal address community concerns, underscoring a commitment to responsible urban development.

This approval adds to the interest in development around Hyde Park, reflecting a broader trend of urban revitalisation in Sydney.&nbsp;

With projects like <a href="/new-apartments/111-castlereagh-sydney-111-castlereagh-street-sydney">111 Castlereagh Street</a>&nbsp;by <a href="/developers/cbus-property">Cbus</a>, the <a href="/new-apartments/sydney-house-194-204-pitt-street-sydney">City Tattersall Club</a> redevelopment by <a href="/developers/icd-property">ICD</a>,&nbsp;and Deicorp's <a href="/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney">Hyde Metropolitan</a> down the road, the approval of the dual tower highlights Sydney's ongoing commitment to balanced urban growth.

The approval adds to the interest in development around Hyde Park, reflecting a broader trend of urban revitalisation in Sydney. 

Two-tower apartment development greenlit on Sydney's Hyde Park

Brisbane developer Skyhold has settled on its prime Balmoral site where it will soon be launching a new $150 million apartment development.

Skyhold's Zhen Chen bought <a href="/new-apartments/91-lytton-road-balmoral">91 Lytton Road, Balmoral</a>, a 23,265 sqm site, for $27.5 million three years ago, with settlement just occurring.

Last year Skyhold <a href="/news/qld/fender-katsalidis-designed-plans-lodged-for-balmoral-apartment-development">submitted plans to the Brisbane City Council</a> for four medium-density buildings that were recently approved. There will be&nbsp;mix of two and three-bedroom apartments and penthouses, as well as 14 townhouses.

“<a href="/developers/skyhold">Skyhold</a> is excited to be launching our next signature project within the upmarket <a href="/new-apartments/bulimba-qld-4171">Bulimba</a>/<a href="/new-apartments/balmoral-qld-4171">Balmoral</a> catchment," Zhen Chen said.

"Opportunities of this scale within the inner city are almost non-existent and our vision for the site aligns with this once-in-a-generation opportunity.

“Our vision, designed by internationally celebrated architect Fender Katsalidis responds to current market demands, resulting in generous private open space alongside intergenerational communal recreation opportunities. The development offers housing diversity for housing entrants as well as 
right-sizers within the area."

<img alt="Skyhold" data-entity-type="file" data-entity-uuid="acfe7666-58f7-486a-b5c0-e71d24febc1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-07%20at%209.58.59%20am.png?VersionId=i8s6WSG9EUd6WdRdgczJO4UN0pQCQ3eC" />

Knight Frank's Blake Goddard, who sold the site, said it was sought after during the sales campaign.

“During the campaign we had strong interest in the property, with over 120 enquiries from a range of buyers attracted to the uniquely large parcel of land with multiple favourable development outcomes," Goddard said.

“The site lies within one of Brisbane’s most popular and prestigious residential locations, <a href="/new-apartments/balmoral-qld-4171">Balmoral</a>, a suburb that has ideal neighbourhood amenity and close proximity to the Brisbane River, less than four kilometres from the CBD.

“A residential development on the site will benefit from the strong demand to live in the area and the high surrounding residential dwelling price."

Fender Katsilidis, who designed the project, said in the Urban Context Report as part of the project submission that their vision is to repurpose an under-utilised site into a vibrant, medium-density residential precinct optimising its existing natural landscape and bring greenery across the precinct and into the residences spread across the site.

The site will home four medium-density buildings with a range of apartments and townhouses on offer

Skyhold settle on Balmoral site for $150 million new apartment development

The billionaire Neilson family has revealed plans to revitalize an old commercial strip in the heart of Redfern.

The plans, which will transform a row of industrial-style commercial spaces across&nbsp;<a href="/new-apartments/2-30-vine-street-redfern">2-30 Vine Street and 32-34 Eveleigh Street</a>, have been filed by a company tied to Paris Neilson, the daughter of billionaire arts patron Judith Neilson and investment banker Kerr Neilson, and her husband Todd Barcombe

They're proposing a new mixed-use building on the three-lot amalgamation, creating a 2,406 sqm, L-shaped site.&nbsp;

<img alt="Neilson" data-entity-type="file" data-entity-uuid="a30c862c-f79c-4a3e-b22d-203fbea50eeb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-06%20at%2012.27.46%20pm.png?VersionId=X3wmIxL5VYekUUaozqOwqWIbSYMssYN9" />

The $30 million sketch plans have been submitted as a State Significant Development to the NSW Government, given the estimated cost exceeds the $10 million requirement to be categorised as State Significant Development under Schedule 2 of the Planning Systems SEPP.

Because the proposed&nbsp;building does not exceed more than six levels from ground level, it did not require a competitive design process. Koichi Takada Architects won a limited architectural competition for the site in November 2023.

<img alt="Takada" data-entity-type="file" data-entity-uuid="60f7a54d-d877-432f-839b-08afd60b42f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-06%20at%2012.20.55%20pm.png?VersionId=9PILSqZK0dviFu1MKT67X7cGfQ7krtT2" />

Their plans envision a part three-level, part six-level building with&nbsp;retail, commercial, and residential spaces above basement parking. Proposed are&nbsp;a total of 20 commercial spaces and two street-level retail tenancies.

A through-site pedestrian link will be created at the heart of the development, connecting Vine Street to Hudson Street. Partially open communal spaces will be created fronting Eveleigh Street to the east.

There are 23 apartments planned, 12 one-beds, nine two-beds, and two three-bedroom units.

The site is around 500 metres from Judith Neilson's famous White Rabbit Gallery in Chippendale.

There are 23 apartments planned, 12 one-beds, nine two-beds, and two three-bedroom units.​​​​​​

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