<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

661 Chapel St

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661 Chapel Street in South Yarra is the first Australian project of the Malaysian-based developer Gamuda Land.

Completed ahead of schedule in 2018, 661 Chapel comprises 116 one, two, three and four bedroom apartments across 30 levels and was designed by local architecture firm Bird de le Coeur.

We recently spoke with Gamuda Land’s chief executive officer Mr Ngan Chee Meng to discuss the luxury development.

[smartcode_project:default project_id=600]

JR: What are the highlights of 661 Chapel and what attracted buyers to the project?

NCM: Like us, our buyers are enamoured with the unique panoramic views of Melbourne CBD and the Yarra river - all set behind the green of the Melbourne High Oval. It’s a view you can fall in love with a few times in a day.

But they are also keen-eyed buyers and are aware of the value that the heritage zone in front of 661 Chapel St plays in safe-guarding these unobstructed views.

Besides, buyers love the community spaces that are mindfully designed and placed within the development such as a grand library in the lobby, the lounges and cinema at level 6, private dining rooms as well as a wine room. In a lockdown, these community spaces provide extra convenience for residents to work-near-home without having to leave the development.

<a href="/buildings/661-chapel-street-661-chapel-street-south-yarra"><img alt="" height="1114" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661_chapel_copy_2_0.jpg" width="1200"></a>

JR: What was the brief for 661 Chapel St for architects Bird de la Coeur?

NCM: Creating a community is an important factor in all Gamuda Land projects so the brief to BDLC is that 661 Chapel St being a high-rise building, must be designed as a vertical village with common areas that enhances resident interaction.

The ground floor features generous shared communal spaces - including entry through a sculpture walk, a library with a dramatic onyx window wall, a shared kitchen table for coffee and newspapers, and a boardroom facilities.

Level 6 is a whole floor of mind and body fun including a lounge and deck, a wine room, two private dining rooms, gym, a cantilevered 25m pool with sauna and steam room, as well as a Richard Serra inspired cinema.

JR: Where did buyers come from, and who was the development appealing to?

NCM: Initially, we saw a strong 30 per cent take up from our followers from Malaysia because of Gamuda Land’s reputation for developing quality residences. But since completion, the majority of our buyers have been locals as seeing is believing. Our buyers are mainly down-sizers, 
affluent young professionals and successful business owners who appreciate the value that 661 Chapel St brings and the rarity of a quiet residence with a never-to-be-built-out view.

Our strategy to deliver a touch and feel product before traditional pre-sale requirements allowed us to reach these markets for which seeing is believing.

<a href="/buildings/661-chapel-street-661-chapel-street-south-yarra"><img alt="" height="1052" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661_chapel_copy_0.jpg" width="1200"></a>

JR: Where is current buyer enquiry coming from?

NCM: Due to the pandemic and lockdown duration, we saw a spike in enquiries via digital platforms such as Urban.com. We are expecting this trend to be dominant moving forward.

JR: Are there any other residential developments in the pipeline?

NCM: Gamuda Land is exploring new opportunities in Australia, particularly Melbourne and is actively canvasing. We’re working with local partners to identify projects to deliver high quality, liveable and future-focused products.
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661 Chapel in South Yarra is the first Australian project of the Malaysian-based developer Gamuda Land.

What buyers need to know about 661 Chapel Street South Yarra: Developer Q&A with Gamuda Land CEO Ngan Chee Meng

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661 Chapel St is Melbourne's new residential development, setting a benchmark for luxury living in the Victorian capital.

Delivered by Gamuda Land, the 30-storey tower provides 127 apartments in one, two, three and four-bedroom configurations. Situated beside the Yarra River, 661 Chapel St is located within minutes of the Melbourne CBD, parklands, elite shopping and dining precincts. It is located next to Melbourne High.

Completed this year, the project is slashing stamp duty costs by up to 50 per cent as well as generous government grants and incentives for new home buyers and first home buyers.

661 Chapel St gives buyers the rare opportunity to combine two apartments to create a single, large residence with some buyers choosing to snap up entire floors and create “super residences” in the sky.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661-chapel-st-hero_3.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="290" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/661-chapel-st-hero_3.jpg?itok=P9kaU23b" width="580"></a>

Among its extensive hotel-inspired resident amenity, the South Yarra project includes a concierge, gym, members lounge and winter garden. Located on its ground floor, residents will also have access to an onyx-windowed, grand library and boardroom. A 25-metre heated pool, cantilevered six levels above Chapel Street and supported by a single beam, rivals the neighbouring hotel pool at The Olsen.

Captivating the interest of art aficionados, the project's marketing indicated that Damien Hirst, the creator behind the $100 million For the Love of God skull, had been engaged in constructing a sculptural walk upon entry, inspired by international galleries. 

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sculpture.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sculpture.jpg?itok=JcPQ9XB4" width="580"></a>

Marketing advised that the artwork would be displayed alongside a spectacular lighting installation by Omer Arbel.

Designed by bird de la Coeur, apartments in the project offer open interiors, large balconies and floor-to-ceiling windows with views of the Melbourne CBD, Yarra River and the Bay.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/_dms0222_photoshop_low_res_large.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/_dms0222_photoshop_low_res_large.jpg?itok=v96E39ye" width="580"></a>

One-bedroom homes in the project begin from $546,000 while four-bedroom apartments are valued at over $5 million. Each residence includes a suite of designer fixtures and stone and timber finishes.
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661 Chapel St is Melbourne's new residential development, setting a benchmark for luxury living in the Victorian capital

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A look at South Yarra's 661 Chapel St

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Gamuda Berhad through its local arm Gamuda Land has recently settled its first flagship Australian development at 661 Chapel St, South Yarra.

661 Chapel St represents the group’s first foray into the Australian market and the Bird de le Coeur designed development comprises 116 apartments across 30 levels with views tht extend over the heritage-listed Melbourne High School, the Yarra River and beyond to the Melbourne CBD skyline.

Believing in the quality of the project with its location, never to be built out views and strong design credentials, Gamuda Land bullishly began construction in April 2016 prior to launching the project, despite the usual 60% pre-sales required by Australian banks to commence construction.

The penthouse for 661 Chapel St is expected to fetch a record $22m and is being sold as a shell with David Hick’s engaged to design the fit-out, so the purchaser can completely customise the residence.

The penthouse is a 792 sqm residence over 3 levels and the design currently includes: 

<ul>
<li>3 bedrooms, 5 bathrooms</li>
	<li>Sauna</li>
	<li>Steam and shower room</li>
	<li>Gym and yoga room</li>
	<li>Cinema</li>
	<li>Study</li>
	<li>Wine cellar</li>
	<li>Butlers pantry (with secondary fully functional kitchen)</li>
	<li>Rooftop bar and private pool with courtyard</li>
	<li>Sweeping views from the CBD right out to the Dandenong ranges</li>
	<li>93 sqm of balcony space and 82 sqm of rooftop</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gamu9654_661_penthouse_in06_penthouse_retreat.jpg" rel="gallery-all" title="The fit-out for the penthouse is completely customisable and has been designed by David Hicks. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="271" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/gamu9654_661_penthouse_in06_penthouse_retreat.jpg?itok=vH5sMpjj" title="The fit-out for the penthouse is completely customisable and has been designed by David Hicks. Image: Supplied" width="580"></a>

<figcaption>The fit-out for the penthouse is completely customisable and has been designed by David Hicks. Image: Supplied</figcaption></figure>Urban.com.au spoke to Gamuda Land CEO Ngan Chee Meng prior to the official launch party to discuss 661 Chapel St, the penthouse and the companies ambitions for further development opportunities in Melbourne.

Urban.com.au: What was the appeal of Melbourne to Gamuda Land and more specifically South Yarra as a suburb?

Ngan Chee Meng: We see Australia, particularly Melbourne as a highly sought-after destination given its long-standing reputation as the world’s most liveable city, quality education and economic stability.

Location is key in our selection for development. We have found South Yarra to be one of the suburbs that could provide a fulfilling lifestyle given its convenience to our residents, with its close proximity to the CBD, public transport network, surrounding areas of greenery such as Royal Botanical Garden, Yarra river; artisanal cafes, boutiques and restaurants all within walking distance.

South Yarra also has a long-standing reputation as a highly sought after suburb, being in the inner east pocket of Melbourne and surrounded by other reputable suburbs such as Toorak.

UM: 661 Chapel St has a strong theme of artwork embedded in the design of its spaces from the moment you arrive, with Gamuda working closely with Andy Dinan of Mars Gallery. What was it like working with Andy Dinan?

NCM: We selected Andy and her gallery to curate the artwork in 661 Chapel St given her experience and background in public spaces. We had also wanted a selection of artwork that showcases works from emerging Australian artists that we believe will be a value add and worthy investment for the development.

We worked hand in hand with Andy and her team, as well as Bird de la Coeur, the project architect in curating the artwork selection in 661. It was a carefully thought out process and it was a pleasure working with them, we are very pleased with the outcome.

UM: With the majority of 661 Chapel St selling locally and to owner-occupiers, what is the expectation for the sale of the penthouse?

NCM: With the sheer scale of the penthouse, we anticipate it will likely attract an owner-occupier, who may have business interests in Melbourne given its inner urban location, or use the penthouse as a secondary or additional residence for their interests/family use.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gamu9654_661_penthouse_in03_penthouse_kitchen.jpg" rel="gallery-all" title="David Hicks has designed the penthouse which is being sold as a shell. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="272" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/gamu9654_661_penthouse_in03_penthouse_kitchen.jpg?itok=iXEOo8sk" title="David Hicks has designed the penthouse which is being sold as a shell. Image: Supplied" width="580"></a>

<figcaption>The penthouse has expansive views of the CBD skyline. Image: Supplied</figcaption></figure>UM: David Hick's will be on hand to customise the design of the penthouse which is currently being sold as a shell. What was the process for selecting David and what factors influenced your decision for selecting him?

NCM: We wanted David to design this penthouse as a ‘one-off’, one-of-a-kind penthouse for 661 Chapel St. While he is a local Melburnian, David’s vast international experience is also a key factor in our selection. We felt David understood what a 
penthouse of this calibre could look like for not just the local market, but also those from overseas, whether it is in Asia, Europe or America given his experience, diverse yet distinctive style.

UM: The views back towards the CBD over Melbourne High are unlikely to ever be built out? Do you see this as a major selling point of the development?

NCM: Definitely. Being in this pocket of South Yarra and Melbourne itself, not being built out is a rare luxury. There are not many developments that can offer never to be built out views and not have the residents look into the next building/apartment in their surrounds from the apartment. This has been one of our strongest selling points.

UM: Gamuda Land has already expressed a desire to develop further projects in Melbourne. Is a return to South Yarra on the cards or is Gamuda looking all over Melbourne for opportunities?

NCM: Being our maiden project in Australia, we wanted to build on our experience here. 661 Chapel St is a considerably smaller project for us when we compare it to what we have in our portfolio, but it is a good stepping-stone for us and allowed us to meet the market’s needs.

Moving forward, we will definitely continue to look for opportunities in Melbourne, and we are in the enviable position to handpick strategic landbanks with great potential to be transformed into value creating assets.
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