<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

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Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

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Construction to commence at luxury Glen Iris townhome project, Orchard Mews

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?

Melbourne's ever-evolving skyline is set to welcome a new addition, as Samuel Property's Louise development continues its steady ascent towards completion.

Renowned builder Hamilton Marino are currently construction the 16-level project on Louise Street, just off St Kilda Road. They're expecting a two-year build, with completion coming toward the back end of 2025.

Over 70 per cent of the apartments have already been snapped up in the Cera Stribley-designed building. Downsizers have made up a majority of the buyers so far, with many seeking&nbsp;the convenience of a lock-and-leave lifestyle that the apartments offer.&nbsp;

[smartcode_project:default project_id=112174 project_image_fid=199592]

Louise will comprise 88 apartments, a mix of one, two, three, and four-bedroom residences.

The initial number of apartments set to be delivered has been slightly adjusted as&nbsp;a result of many buyers choosing to amalgamate multiple floor plans, creating unique spaces tailored to their individual preferences.

Located on the corner of Louise Street and Queens Lane, Louise is a testament to modern architectural design while paying homage to the city's rich art deco heritage. Cera Stribley's aim was to have Louise blend seamlessly into its surroundings. In keeping with its surroundings on St Kilda Road, Louise's architectural palette is a harmonious blend of red brick and white terrazzo, complemented by lush greenery.

[smartcode_project:default project_id=112174 project_image_fid=199600]

The tower's design is a nod to the nearby Albert Park Sailing Club, with projecting eaves fanning out as the building ascends, creating a visually stunning and organic effect. The tower's concrete and glass skeletal exterior is a study in symmetry and balance, with a vertical seam running the entire length of the structure, providing a distinctive character to the development.

Blair Property Group's Darren Blair, who is marketing Louise, says getting the construction underway is a major sign of confidence in today's off the plan environment.

"While construction commencement is a major milestone in the off the plan market and it gives people confidence the building is going ahead, it also helps those who want and need a more firm completion timeline so they can get their other affairs in order."

&nbsp;

[smartcode_project_cta:default project_id=112174]

Over 70 per cent of the apartments have already been snapped up in the Cera Stribley-designed building

Hamilton Marino begin construction on Louise Melbourne apartment development

The Albertine, one of Mirvac's latest residential developments, is set to take centre stage above not one, but two of Melbourne's best parklands.

The 15-level Queens Lane building, which launched to the market last month, will take in views of Albert Park to the west, while Fawkner Park is just 100 metres from The Albertine front door.

The Albertine will take up a prime position on the fringe of Melbourne, offering the tranquility of the neighbouring parklands while also being in the vibrant St Kilda Road precinct which offers both convenient amenity and connectivity to the heart of the city.

Mirvac snapped up the prime 2,323 sqm site in mid-2022, with the driving force behind the purchase being the unbeatable location.&nbsp;

[smartcode_project:default project_id=138659 project_image_fid=215880]

There are just 98 one, two, three and four-bedroom apartments on offer in the all electric building, as well as extensive amenity in the form of The Circadian Club, which features&nbsp;an&nbsp;indoor pool and spa, state-of-the-art gym, yoga and pilates studio and sauna, and the&nbsp;Elysian Room, which will home a residents exclusive dining space with sweeping views across Melbourne.

Future residents won't have to look far for activities outside The Albertine. On the doorstep is the 225-hectare Albert Park, home to the Australian Grand Prix. The park is littered with picnic areas, playgrounds, communal barbecues, and walking and bicycle trails, the main route circling the lake.

[smartcode_project:default project_id=138659 project_image_fid=215878]

Adjoining the park there's the internationally recognised Melbourne Sports &amp; Aquatic Centre, Lakeside Stadium, home of Athletics Australia, the historic Junction Oval, and the Albert Park Public Golf Course and driving range, all located on the opposite site of the lake to The Albertine. There's various bowls clubs, tennis clubs, cricket ovals and soccer and rugby fields scattered across the vast expanse of parklands.

Some of Melbourne's most iconic venues are within easy reach of The Albertine. Think the MCG and Rod Laver Arena, Melbourne Museum, and the National Gallery Victoria.

Shopping options surrounding The Albertine are too abundant. There's the local shopping villages of Bridport Street in Albert Park, Clarendon and Coventry Street in South Melbourne and High Street Armadale. Popular with foodies, the South Melbourne &amp; Prahran Markets are within easy reach. And for high fashion, easily venture into Chapel Street South Yarra, the CBD for Collins Street Boutiques, Emporium Melbourne and more.

[smartcode_project:default project_id=138659 project_image_fid=215945]

Transport links are always the key when it comes to buying into an off the plan development. There's extensive connectivity by either car or tram from St Kilda Road, while the future ANZAC Station is set to be developed not far from the Queens Lane address. There's further bus links on Commercial Road, around one kilometre away.

Families will also find The Albertine an attractive choice due in part to the project's close proximity to a range of esteemed schools, including Christ Church Grammar, Melbourne Girls Grammar, Melbourne Grammar School, Port Melbourne Secondary College. The RMIT University, The University of Melbourne, and Wesley Colleges are also within proximity.&nbsp;

[smartcode_project_cta:default project_id=138659]

<ul>
</ul>

The Albertine will take up a prime position on the fringe of Melbourne, offering the tranquility of the neighbouring parklands while also being in the vibrant St Kilda Road precinct which offers both convenient amenity and connectivity to the heart of the city

A parkside haven: How Mirvac's The Albertine takes advantage of Melbourne's best parks

Melbourne has continued to see growth in its unit market, albeit slower than previous months.

CoreLogic's Monthly Hedonic Home Value Index found that&nbsp;value of&nbsp;<a href="/developments/melbourne-vic">Melbourne units</a>&nbsp;grew by 0.3 per cent across August, slightly softer than the 0.4 per cent gains in July and one per cent in June.

It was the first time in three months unit growth didn't outstrip house value growth. House values in Melbourne grew 0.6 per cent in August.

Unit values are now 1.6 per cent up over the rolling quarter, and 1.7 per cent year to date. The median value for units in&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>&nbsp;is now $603,000.

Read more:&nbsp;<a href="/news/vic/city-beat-august-2023-melbourne-units-outperform-houses-again-as-supply-problems-persist">City Beat August 2023: Melbourne units outperform houses again as supply problems persist</a>

<h1>What's happening in the Melbourne off the plan market?</h1>

It's taken a bit of time, but agents are reporting that buyers are starting to come into the market.&nbsp;

That's what&nbsp;Stephen Bowtell, Director at Jellis Craig Projects, is seeing across a number of his projects.&nbsp;

"It's a good sign for the market that new buyers are beginning their search," Bowtell says.&nbsp;He adds however that most are new buyers only just starting their journey, and they're not ready to transact.

"That slows down the sales process because those buyers need time to assess all options and spend some time researching the market," Bowtell says.&nbsp;

But due to the supply crunch in Melbourne, because of the difficult construction environment, there's not a lot of other options on the market, or even coming to the market.

He says when there even a hint of a rate cut, there will be a flurry of both enquiry and transactions.

Bowtell has just launched Kindred, in Bayside Mentone, a collection of just 10 architecturally-designed villas on the park and near the beach.

[smartcode_project:default project_id=138768 project_image_fid=214857]

"This one ticks a lot of boxes," Bowtell says.

"Kindred Mentone stands out from anything that's been done in Mentone before from an architectural standpoint, but it's also one of few residential sites that faces the park, which makes it difficult to repeat."

Read more:&nbsp;<a href="/news/vic/sloane-launch-one-of-a-kind-townhouse-development-in-melbournes-mentone-bayside">Sloane launch 'one of a kind' townhouse development in Melbourne's Mentone Bayside</a>

[smartcode_project:default project_id=138768 project_image_fid=214862]

Colliers National Director Project Marketing Ben Gearing says it's this undersupply of apartments which has driven sales at their two projects in Melbourne currently, Park Quarter on St Kilda's Road by SIDG, and Lendlease's newest tower in their $1.5 billion Collins What redevelopment, Regatta.

Park Quarter has raced to 50 per cent sold having only launched in March, while Regatta hit the market last month and has had "overwhelming interest".

"We are entering a period where there are going to be fewer apartment development completions," Gearing says.

[smartcode_project:default project_id=134959 project_image_fid=210773]

"This lack of supply in and around the CBD and city fringe of Melbourne will add further pressure on rents in an already tight rental market, bringing astute investors out in large numbers."

Gearing has also seen demand however from first time apartment buyers, whether it be downsizers or first home buyers.

"There has been consistent strong interest from owner occupiers searching for quality, liveable residences which includes your first time apartment residents such as downsizers and first homeowners. As the Melbourne apartment market matures we can see increased interest from residents choosing to upgrade from their current apartments and seeking enhanced design, amenity, quality of build and location."

RT Edgar Projects Director Nihal Peter says there's a few factors at play in the off the plan market in Melbourne. Starting from the bottom up, he says first home buyers have no incentive to buy off the plan.

"They’re renting and don’t want to rent, but they don’t want to be buying something which is over 12 months or so away from completion, they want to move now. They need the 10 per cent deposit now because of rising inflation and rising rents. They’re not buying off the plan and they’re buying completed, well priced stock."

Peter says on the flip side, ageing downsizers are always buying off the plan.

"They don’t have mortgages, they’re buying and future proofing, settling at that price, then selling their home when the market is a bit better.

"There’s a big disparity between the bottom end and the higher end of the market. Supply is going down, demand is going up, the Chinese are coming back. We predict the apartments that sell now will be worth more at settlement.

Peter's newest projects in market are Mimosa Row in Carnegie and EIRA Apartments in Bentleigh East, both being developed by ITUM.

[smartcode_project:default project_id=139888 project_image_fid=212587]

Mimosa Row comprises just 40 two and three-bedroom apartments, while EIRA Apartments offers 18 one, two and three-bedroom units.

Tomassi &amp; Co Founder and Director Alby Tomassi says there's&nbsp;plenty of positives to look at in Melbourne’s off the plan property market.

"Forecasts are for 160,000 people to migrate to VIC in the next 12 months, which is 30 per cent of the whole of the country and double pre-COVID levels. The recent interest rate pauses have seen confidence come back into the market.

Tomassi says when we approach the first cut, then it will be game on.

"The new RBA Governor will signal a change in direction at the Central Bank. Whenever there’s a change in leadership in government, it’s generally because the direction wants to change. So I suspect the change of direction will see us go from a rate hiking, inflation controlling RBA to one who will seek to cut rates at the first opportunity.

"As soon as the media start reporting on first rate cuts, demand will far surpass supply, which is worse in Melbourne than in any other capital city."

Tomassi is preparing to launch a boutique project on Fitzroy's Smith Street, and a townhouse project in Mordialloc.

Chad Arbid at Chad Arbid Projects says the RBA's second consecutive decision to hold rates steady in August has sparked increased activity within the market.

"We are now receiving more qualified enquiries as people are able to engage in more effective financial planning. Confidence is reemerging within the market, and individuals are realising that we are either at the pinnacle or very nearly so, within the interest rate cycle."

Arbid is marketing Casa Tranquila in Hampton East, which he says is attracting buyers who want everything that Bayside has to offer.

[smartcode_project:default project_id=113441 project_image_fid=208731]

"It's a true Bayside suburb," Arbid says.

"It shares the Hampton postcode, it's in an area known for parks, the beach, the best schools, restaurants and cafes, all within three or four hundred metres of the front door."

Local downsizers have made up the bulk of enquiry and purchases. There were some first home buyer purchases earlier in the year, but they're not even enquiring now as interest rates have further restricted budgets.

It's taken a bit of time, but agents are reporting that buyers are starting to come into the market

City Beat August 2023: Buyers start to emerge in Melbourne's off the plan market

South Yarra House might be the most beautifully crafted apartment development South Yarra has ever seen.

Developer Wattletree has had SJB mix architecture with density to create something that hasn't been previously available before.

The 58-apartment project, inspired by simple, brutalist, art-deco New York architecture, has been a hit with downsizers in particular so far, who want to stay close to the action of South Yarra without the effort of maintaining a home.

Read more:&nbsp;<a href="/news/vic/a-return-to-south-yarra-grandeur-and-refinement-how-sjb-designed-south-yarra-house">"A return to South Yarra grandeur and refinement": How SJB designed South Yarra House</a>

[smartcode_project:default project_id=112970 project_image_fid=214711]

They're getting an equally high level of finish that they could ever get in a home at South Yarra House, with renowned Hecker Guthrie handling the interiors of the project.

We recently took a tour of the South Yarra House display suite which features the centrepiece of the home, the kitchen, lined with marble benchtops and Gaggenau appliances.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/tE-YpmoY-u0?si=ftosIX9qIteuAIsO" title="YouTube video player" width="560"></iframe>

South Yarra House comprises just three and four-bedroom apartments, a maximum of five apartments per floor. They will sit above a commercial and retail podium.

Each apartment features intuitive configurations, ensuring a seamless flow that resonates with the needs of modern living. Enveloped by an uninterrupted north-facing panorama overlooking the Yarra River, these homes effortlessly capture the essence of serene luxury.

Another key stand out of the apartments is the ceiling heights, which range between 2.8 metres and 3.3 metres high, far above the Australian standard of 2.4 metres. High ceilings create a sense of space, and allow for more natural light to flood the apartment through equally high floor to ceiling windows.

[smartcode_project:default project_id=112970 project_image_fid=214705]

Every facet of South Yarra House showcases a commitment to quality. From the Gaggenau in the kitchen to&nbsp;custom veneer joinery, meticulously handcrafted bricks and brushed nickel tapware, every fixture and finish has been considered.

Communal spaces take shape in the form of a rooftop haven with a swimming pool, alfresco dining space with a barbecue kitchen, and an indoor dining area.

[smartcode_project_cta:default project_id=112970]

Developer Wattletree has had SJB mix architecture with density to create something that hasn't been previously available before

Capturing what inner-city downsizers are after: Inside the South Yarra House display suite

Merchant Apartments is the final residential apartment development in AVJennings' Williamstown masterplan, Waterline Place.

Merchant will deliver 125 apartments across two seven-storey buildings when it's completed in mid-2024. It sits in the heart of the masterplan, which, when AVJennings started to develop over 10 years, wanted to become 'a village within a village'.

It's a vision which is quickly coming to fruition with Waterline Place already home to a number of apartment buildings and striking architecturally-designed townhouses.

[smartcode_project:default project_id=112774 project_image_fid=197060]

Renowned architecture firm Elenberg Fraser designed Merchant Apartments with the community in mind. The project comprises one, two, and three-bedroom apartments, as well as an exclusive Sky Home collection occupying the upper floors of the two buildings.&nbsp;

Elenberg Fraser Interior Designer Kate Shaw said Merchant’s fluid undulant-shaped façade reflects light in a way that is reminiscent of the reflection of the sun off rippling water.

“Textural concrete walls intentionally bound the building to the east and west, angled to direct view lines towards the horizon,” Shaw says.

[smartcode_project:default project_id=112774 project_image_fid=199291]

The building also homes a ground floor retail space and is crowned by a communal rooftop with&nbsp;sweeping views of the city and Hobsons Bay.

The inclusion of a variety of Indigenous and exotic vegetation complements the architectural design and thrives within the climate.

Location is a key highlight of Waterline Place, situated 12 kilometres from the CBD and a short walk from Williamstown Train Station, making it an excellent choice for those who work in the city but prefer a more suburban lifestyle.

Investors have started to show an interest in the building as it approaches completion. CoreLogic data shows units have from 6.31 per cent in the 12 months to July.

[smartcode_project_cta:default project_id=112774]

Merchant will deliver 125 apartments across two seven-storey buildings when it's completed in mid-2024

Buyer Handbook: A buyer's guide to AVJenning's Williamstown apartment development, Merchant Apartments

The record-breaking Queensland developer Spyre Group is set to launch its first Melbourne apartment development, in the Bayside suburb of Hampton.

The boutique project, Hampton Ltd, will see just 20 apartments and three townhouses developed across three three-level buildings on the corner of Thomas Street and Deakin Street, near Hampton Beach and Bayside's entertainment capital Church Street in nearby Brighton.

Spyre Managing Director Daniel Laruccia, who hails from Victoria, said the company's ambition has been to extend&nbsp;the same level of design and innovation down south.

He said the key factor was the location.

“In our pursuit to offer an unmatched living experience for those who desire the extraordinary, we discovered Hampton is the ideal canvas to bring this vision to life - a prime bayside location brimming with untapped potential," Laruccia said.

The two and three-bedroom apartments are expected to be popular among empty nester downsizers and young professionals.

<a data-entity-type="file" data-entity-uuid="4c9320c7-a33b-4c54-9a44-fed7dbcd899f" href="/new-apartments/hampton-ltd-24-thomas-street-hampton-vic-3188"><img alt="Hampton Ltd" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Track%20Listing%20CTA%20template%20-%20landscape%20%285%29.jpg?VersionId=kAi7KGYL6QlkPxGL2.FNOMrDwZ4Uq4gY" /></a>

Architects MLD Studio designed the project, with the interiors crafted by Studio Brent Lee.

Jellis Craig Bayside&nbsp;agent Melina Scriva, who is marketing the project, said Hampton Ltd represented a unique proposition in the area.

“Spyre brings a genuine passion to their projects and an unwavering dedication to exceptional quality," Scriva says.

"Hampton Ltd introduces a bespoke offering that the Bayside community hasn’t seen before.”

Interior layouts are designed around focal points such as the open plan kitchens and master bedrooms, spaces where people spend most of their time. The living area flows around the entertainer’s kitchen where a sculptural island bench, crafted from Vanilish Pearl marble, stands as a statement piece.

<a data-entity-type="file" data-entity-uuid="bac5e003-9ec8-452b-a461-79459c34cf30" href="/new-apartments/hampton-ltd-24-thomas-street-hampton-vic-3188"><img alt="Hampton Ltd" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Track%20Listing%20CTA%20template%20-%20landscape%20%286%29.jpg?VersionId=g9MKOSMQ6okcQ7JcN4GWNceHUFEGxy63" /></a>

The master bedrooms offer generosity of space and abundant natural light. They feature lush wool carpets, and an expansive walk-in wardrobe with feature timber-look joinery.

Spyre has more than $750 million of luxury developments under their belt in South East Queensland, across Brisbane and the Gold Coast.

Laruccia said the company was regarded in Queensland for having the foresight, and ability to conceive projects that enhance the “lifestyle wealth’’ of their residents and Spyre wanted to bring that vision to Melbourne.

“Spyre has identified a genuine demand in the market for aspirational properties that inspire through their design and innovation,’’ Laruccia said.

Spyre’s Moray House development on the New Farm reach of the Brisbane River broke the record for Brisbane’s most expensive apartment sale, when its two-level 800 square metre penthouse <a href="/news/qld/spyre-secure-15-75-million-brisbane-apartment-record-at-moray-house-new-farm-riverfront-development">sold off the plan for $15.75 million in January</a>.

In March last year, the penthouse of Spyre’s Glasshouse development at <a href="/news/qld/spyre-group-smash-queensland-apartment-record-with-20-million-burleigh-heads-penthouse-sale">Burleigh Heads on the Gold Coast sold for $20 million</a>, giving it the title of Queensland’s most expensive off-the-plan penthouse.

[smartcode_project_cta:default project_id=134801]

Spyre Managing Director Daniel Laruccia, who hails from Victoria, said the company's ambition has been to extend the same level of design and innovation down south.



Spyre Group unveil first Melbourne apartment development, Hampton Ltd

Nestled in the vibrant heart of the south-east suburb of Carnegie, Pitard Group has captured the essence of modern living with their completed apartment project, Carnegie Place.

Carnegie, celebrated for its diverse and connected atmosphere, has long been a favoured destination for those seeking a dynamic lifestyle. From its bustling main strip adorned with cafes and eateries, to the abundance of amenities and lush green spaces, the suburb has long brought in a diverse array of residents.

Comprising a collection of 47 one, two and three-bedroom apartments, Carnegie Place stretches across four levels, perched above ground-floor retail and dining spaces. Convenience takes centre stage at Carnegie Place, given its prime, connected location on Neerim Road.

&nbsp;

Carnegie Place is just 450 metres from Carnegie Train Station. Bus and tram links are even closer on Neerim Road and Carnegie Road.

[smartcode_project:default project_id=89727 project_image_fid=169287]

The neighbourhood community vibe of Carnegie is a magnet for residents of all demographics. Culinary enthusiasts will find themselves spoiled for choice with a plethora of dining options on the doorstep, from Japanese to Malaysian, Thai to French, and Greek to classic Australian.

Carnegie's practicality shines through with its array of grocery stores, bakeries, beauty salons, and fitness facilities along the bustling Koornang Road, while for those who seek retail therapy, the renowned Chadstone Shopping Centre is a 10-minute drive from Carnegie Place.

[smartcode_project:default project_id=89727 project_image_fid=169285]

The interiors, thoughtfully designed by Ewert Leaf, feature open-plan layouts illuminated by an abundance of natural light.

The soft, neutral colour palette serves as a versatile canvas for residents to infuse their unique style, coupled with engineered timber flooring, high ceilings, and natural textures throughout.

[smartcode_project:default project_id=89727 project_image_fid=169274]

The kitchens feature white quartz stone benches offset by sleek white cabinetry adorned with woodgrain feature panels and mosaic tile splashbacks. State-of-the-art ILVE appliances have been incorporated throughout, along with ample storage solutions, and built-in dishwashers.

The bedrooms have been designed with functionality in mind. Plush wool carpets, dual block-out roller blinds, and considered soundproofing combine with walk-in or built-in robes which feature innovative storage solutions like shoe racks, jewellry drawers, and hydraulic hangers.

[smartcode_project:default project_id=89727 project_image_fid=169273]

Carnegie Place is just 450 metres from Carnegie Train Station. Bus and tram links are even closer on Neerim Road and Carnegie Road

The heart of Carnegie: Inside Pitard's completed Carnegie Place apartment development

Platinum Constructions took to the leafy Caulfield North for their apartment and townhouse development, The Prince.

Completed in 2020, The Prince comprises just 14 dwellings, designed by Taylor + Reynolds to blend into the established surroundings.

[smartcode_project:default project_id=9075 project_image_fid=28638]

Attention to detail is evident throughout the three-level development, starting from the secure basement carpark entry that ensures a seamless arrival for residents. Inside, the living spaces are adorned with curated timber flooring, providing a warm and inviting ambiance.

The kitchens within The Prince residences exude elegance and functionality, featuring thick, grey stone island feature benches complemented by stone benchtops and Miele appliances. In contrast, the bathrooms and bedrooms are adorned in a white decor that complements the light-filled interiors, with tiling and rustic grey carpeting add a touch of sophistication.

Beyond The Prince, residents can immerse themselves in the vibrant lifestyle opportunities offered by Melbourne's inner south-east.

[smartcode_project:default project_id=9075 project_image_fid=28642]

Luxury shopping awaits just a short distance away at Chadstone Shopping Centre, boasting a plethora of upmarket retail stores for indulgent retail therapy, while open green spaces and parks are also aplenty, with Caulfield Park less than four-minutes away.&nbsp;The sprawling park provides an array of recreational activities, including sporting clubs, barbecue facilities, children's play areas, off-leash dog areas, and walking tracks.

The famed Albert Park Lake and some of Melbourne's best beaches are also nearby, both accessible within a 10-minute drive.&nbsp;

Caulfield North's reputation as a family-friendly haven has also contributed to its enduring appeal, with 38 schools situated nearby. As a result, property values in the desirable suburb continue to soar.

[smartcode_project_cta:default project_id=9075]

Platinum delivers a limited collection of luxury to Melbourne's inner south-east

Investors are scrambling to get a piece of the recently completed $1 billion, four-tower Melbourne development, West Side Place.

The majority of investors are seeing double-digit rental yields in the Spencer Street project on short-stay accomodation platforms, given the prime location&nbsp;opposite Southern Cross Station, Spencer Outlet Centre, and Marvel Stadium.

Investors likely won't have any trouble leasing long-term either in the sought-after development, and will be securing yields they haven't seen in a number of years. Melbourne rents have jumped 12.9 per cent over the year to July 2023, the second best performing capital only behind Perth (13.9 per cent). The REIV have Metro Melbourne's vacancy rates at just 2.2 per cent.

[smartcode_project:default project_id=1270 project_image_fid=217067]

Nest Projects Director Nick Marinakis, who is marketing West Side Place on behalf of developer Far East Consortium, says the rental yields being achieved at West Side Place are being driven both by what the building offers just as much as the current rental crisis.

"There are two reasons why investors are securing such a good return at West Side Place. First is the current rental crisis which is driving prices, and the second is the location of West Side Place, which is second to none in the city."

The amenity, both in and out of the building, has been a major driver at West Side Place. Within the development there's a swimming pool with steam room and sauna, a gymnasium with an open terrace, function and meeting rooms, open terraces with seating and BBQ facilities, a private cinema, and even karaoke and virtual golf facilities.

"The amenity on offer at West Side Place means investors can reasonably have considerably higher returns than they would in other CBD buildings," Marinakis says.

[smartcode_project:default project_id=1270 project_image_fid=217070]

Prices start at $550,600 for the one-bedroom, 60 sqm plus apartments, which have a study space and secure parking for one car.

Two-bedroom apartments, which start from over 70 sqm, are priced from $708,000.

It was a decade ago that Far East Consortium signalled their intentions for the $2 billion plus West Side Place development, securing a prime Spencer Street site in 2013. They spent the next three years in the development an design phase with Cottee Parker before launching in 2016. It still stands as one of the largest developments in Melbourne's history.

Completed apartments in the Melbourne CBD have proven popular on Apartments.com.au over July and August, with investors keen on taking advantage straight away of the high rental demand and forecasted population boom in the Victorian capital.

First home buyers have also looked to completed, inner-city apartments to try and get out of the rental market. They offer great value, and despite interest rates being higher than we've seen in the last few years, first home buyers are still able to pay down a mortgage for less than what they're paying renting a similar apartment.

[smartcode_project_cta:default project_id=1270]

Nest Projects Director Nick Marinakis says the rental yields being achieved at West Side Place are being driven both by what the building offers just as much as the current rental crisis

Why Melbourne apartment development West Side Place is attracting investors

When Brady Group set about designing their Melbourne CBD apartment towers 380 Melbourne, they made sure they featured a handful of luxury apartments toward the top of one of the buildings.

The Diamond Collection, the largest on offer in the Elenberg Fraser-designed development, is spread across the upper levels of the south tower on Timothy Lane. The development is named 380 Melbourne after its prime site position fronting 380 Londsale Street.

[smartcode_project:default project_id=2064 project_image_fid=210636]

"As with all Elenberg Fraser projects, the architecture and interior design of 380 Melbourne are sensory—an expression of unique identity that residents will feel, as well as see," Brady Group advise.

"It will be evident in the synthesis of colour and texture throughout the exclusive Diamond Collection lobby, and the grand sense of arrival it creates.

[smartcode_project:default project_id=2064 project_image_fid=210651]

"You’ll experience it in the considered modernism of your generously proportioned, light-filled residence: its intelligent layout, clean lines, flowing spaces, sophisticated palette of materials, and distinctive touches."

The three-bedroom apartments at 380 Melbourne span a generous 125 sqm, with three bathrooms and one car space.

<img alt="380 Melbourne" data-entity-type="file" data-entity-uuid="95e134b0-77c8-4f23-96b4-9d9a79bedc91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-30%20at%208.45.10%20am.png?VersionId=Yy463UH.Aj_V3lJastfMHgDdYsB4pT82" />

The dual towers of 380 Melbourne grace the mid-town cityscape with their striking presence. The towers, resembling a cascade of shimmering silver ripples, establish a distinctive vertical rhythm.

This effect is achieved through the incorporation of elegantly moulded bay windows on the building's facades. Not only do these bay windows add character to the towers, but they also enhance the views and floor spaces of the Diamond Collection residences they house.

One of the standout features of the building is the rooftop garden that graces the crown of the southern tower. A green oasis in the midst of the city's hustle and bustle, the rooftop garden offers a serene escape for the residents of the Diamond Collection, while private dining rooms provide the perfect setting for hosting friends in indulgent luxury.&nbsp;

[smartcode_project_cta:default project_id=2064]

"As with all Elenberg Fraser projects, the architecture and interior design of 380 Melbourne are sensory—an expression of unique identity that residents will feel, as well as see."


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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

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