Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"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," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"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."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"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=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Apartments

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What seemed like a relative lull in activity within Fishermans Bend has been busted in recent weeks as the Urban Renewal Area experiences an intense period of development activity. Land transactions lead the way with a host of sites capable of accommodating developments of various sizes on the market.

As many as a dozen sites within Fishermans Bend are currently offered for sale, signalling a spike in activity within the precinct which has seen seldom few projects released for public purchase thus far.

Of the sites for sale, two come with planning approval. 199-201 Normanby Road is the largest and includes provision for 262 apartments whilst 179 Gladstone Street is a more modest schemes that unsuccessfully launched as Custom Apartments.

<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/image37_5.jpg" rel="gallery-all" title="Prospective and potential Fishermans Bend apartment developments"><img alt="" class="image-article-full-width-580px" height="256" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image37_5.jpg?itok=5Zf68MUX" title="Prospective and potential Fishermans Bend apartment developments" width="580"></a>

<figcaption>Prospective and potential Fishermans Bend apartment developments</figcaption></figure>Beyond those, the balance of sites currently on offer present as future development prospects.

South Melbourne's 90-96 Johnson Street is the largest with Fitzroys assigned to the 4,066sqm site which holds a combined frontage of 106 metres and CitiPower as a prime tenant. CBRE's 112 Munro Street also shapes as a site capable of handling substantial development with the triple fronted 2,023sqm parcel beyond the first round of offers. 

Generally smaller in nature, the balance of sites are touting development potential of up to 18 levels with 12 Thistlethwaite Street a prime example.

<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/image33_7.jpg" rel="gallery-all" title="272-280 Normanby Road is set for redevelopment. Image: proUrban"><img alt="" class="image-article-full-width-580px" height="661" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image33_7.jpg?itok=sLmqhgSj" title="272-280 Normanby Road is set for redevelopment. Image: proUrban" width="580"></a>

<figcaption>272-280 Normanby Road is set for redevelopment. Image: proUrban</figcaption></figure>In planning happenings three separate projects have recently entered the statutory approvals process.

118 Bertie Street Port Melbourne is subject to an 18 storey mixed use development comprising residential apartments and commercial space over a site which is currently utilised by the Power Group. Further Laconia House at 179-185 Normanby Road Southbank is also subject to a retail, commercial and residential tower proposal. 

The tower would reportedly stand at 150 metres and include 318 apartments.

Also at planning is 272-280 Normanby Road which was <a href="http://www.theage.com.au/business/property/owner-seeks-to-flip-fishermans-bend-landholding-20160607-gpdk94#ixzz4AvSxLGqS">recently put on the market according to Fairfax.</a> Consultancy proUrban is running with a Hayball-designed scheme for a tower covering the site, although it remains unclear if the image above and what has been submitted for approval onsite are one and the same.

The wraps are also off 202-204 Normanby Road with City of Port Phillip providing detail on the project which would see 284 apartments created over a 40 level structure.

The flurry of land activity looks set to unleash an upswing in project releases within Fishermans Bend. Developer Third Street's P.M. Port Melbourne is set to create approximately 500 apartments for the precinct whilst Portal Properties' 181 Ferrars Street looks is likely to become the next project to head to sales.

<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/image32_3.jpg" rel="gallery-all" title="89 Lorimer Street has been sold. Image: Colliers"><img alt="" class="image-article-full-width-580px" height="359" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image32_3.jpg?itok=m0LAZ41-" title="89 Lorimer Street has been sold. Image: Colliers" width="580"></a>

<figcaption>89 Lorimer Street has been sold. Image: Colliers</figcaption></figure>At the foot of Fishermans Bend's Lorimer Precinct, 89 Lorimer Street has found a new owner with Colliers recently announcing a private offshore property developer has secured the site. With approval for 940 dwellings, the scheme was sold by local developer Little Projects after they managed to gain planning approval for the site which sits behind Mirvac's Yarra's Edge precinct.
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silvermb

Buy this, sell that; Fishermans Bend begins to run hot

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Claims that thousands of Brisbane apartments are at risk of not settling over the next 24 months due to tighter lending conditions and the large number of units involved are being rejected by researchers, according to Lachlan Walker, director of Place Advisory and Place Projects. 
The claim did not give consider decisions by the major banks to pull out of development funding throughout inner Brisbane, says Diana Howes, director of Resolution Research, according to his recent writeup in www.therealestateconversation.com.au.
Furthermore, claims that banks are no longer lending to overseas buyers as a blanket statement are also generalised claims, with banks willing to lend, however at a higher 60 per cent LVR.
Howes does not anticipate settlement valuations falling short of the contract prices for off-the-plan units.
“We reject the notion that the market is currently on the cusp of a major valuation risk phase – with developers still reporting valuations at, or close to contract values,” she said.
“With negligible price growth across the off-the-plan market over recent years, apartments currently under-construction should, in theory, be valued in line with their recently completed counterparts.
“Although we have seen an estimated 15 per cent rise in construction costs over the past three months, which has translated into lifts in off-the-plan values, many of these apartments are yet to even start construction and given the pull back in development finance, a large proportion are unlikely to. This further strengthens our argument that thousands of apartments within inner Brisbane are NOT at valuation risk.”
Howes said investor sentiment in the Brisbane market remained solid and there was no evidence of a trend towards speculative investment; in fact quite the contrary.
Resolution Research's research examined the mind and mood of the investor market and revealed the following key opinions and attitudes:
* Buyers have an average hold strategy of 5 years
* Buyers are risk averse and shop the market to ensure they are securing a solid value proposition
* Speculative (short-term) investments are felt to be more likely to have upside in the share market as opposed to the property market
An analysis of resales across six major high density developments over an 18-year period (1997 through to 2015) in Fortitude Valley and Brisbane’s CBD reveals an average annual rate of capital appreciation of 6% across the market. This is a healthy rate of appreciation and clearly highlights a long-term hold strategy for inner Brisbane apartment developments yields high returns, it says. 
Importantly, although resales do fluctuate over both the medium (five-year) and long terms, average annual median price growth has been recorded. It is equally important to note that across these timeframes owners of these apartments have been through the GFC and two periods of speculation of market oversupply (in 2003 and again in 2007).
In essence, a conservative approach to purchasing in inner Brisbane, on average, results in an appreciation in values. This study shows that ownership spanning across the GFC and speculative times of oversupply in 2003 and again in 2007 have failed to have a negative impact on market values over a longer term hold period.
The claim by CoreLogic RP Data  that 81,696 apartments would be delivered into Brisbane’s market over the next two years was unfounded. This figure assumes that 100 per cent of all stock will be funded which is not the case in an environment where three of the big four banks state that they are no longer funding apartment developments within inner Brisbane.
"Brisbane’s apartment market is heavily influenced by lending conditions and we expect to see the future supply environment contract considerably," it said.
Inner Brisbane’s current pipeline of new apartments was 20,456 including those yet to be approved.
If we use inner Brisbane as the benchmark, which is where the overwhelming majority of stock is to be developed, we currently have 3,886 apartments which are now deferred.
 
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jchancellor-FAypfDUnLy

Brisbane's apartment settlement fears not credible: Lachlan Walker

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Developers Aoyuan and Ecove have responded to the demand for larger apartment, creating two luxurious two-storey 'sky homes' in their landmark ONE30 Hyde Park project.
An amalgamation of four already substantial three bedroom apartments, each 'sky home' is 286 sqm in size with an internal staircase, media room, wine cellar and two balconies.
Both have quality Gaggenau appliances, timber flooring, high ceilings, natural stone bathrooms, marble kitchen benchtops and secure parking.
The super-sized apartments on floors 28 and 29 and 33 and 34 come with <a href="https://one30hydepark.com.au/apartments/" target="_blank">price tags of $8.8 million and $8.9 million.</a>
Last year a 277 sqm penthouse at One30 Hyde Park sold for $9.72 million.
Designed by Bates Smart architects, the building offers one bedrooms from $1.15 million, two bedrooms from $2.19 million and three bedroom apartments from $3.89 million.
Construction company Built have already started demolishing the existing office building at 130 Elizabeth Street to make way for the 38-level residential tower.
The building is due to be completed late 2018 to earn 2019.
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j.ballantyne1990-6AQqhLzZaK

ONE30 Hyde Park super sizes sky homes

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First covered on Apartments.com.au <a href="/news/what-the-fook-84-88-queensbridge-street-southbank">over two years ago</a>, <a href="http://88melbourne.com.au/">88 Melbourne</a> was officially launched by New Sky Group on 30 April, marking its first major foray into the Melbourne market.

The project has already proven popular with locals currently living within Southbank and interstate purchasers with buyers from Sydney in particular.

The $100 million 60-storey tower, located in the Southbank Entertainment Precinct is designed by RotheLowman in conjunction with KPDO.

Inspired by hand crafted jewelry and the art of origami, the building features a three-dimensional diamond patterned façade, that will shimmer during the day. This will be further accentuated in the evening sky by an integrated LED installation, the first residential tower in Melbourne to feature a full height LED lighting design.

<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/88m_03.jpg" rel="gallery-all" title="88 Melbourne hero perspective. Image courtesy of New Sky Group"><img alt="" class="image-article-full-width-580px" height="1114" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/88m_03.jpg?itok=-YWmatxh" title="88 Melbourne hero perspective. Image courtesy of New Sky Group" width="580"></a>

<figcaption>88 Melbourne hero perspective. Image courtesy of New Sky Group</figcaption></figure><blockquote>
88 Melbourne will have a sophisticated presence in the city and change the way people think of apartment living. It will be an iconic Melbourne address and a lasting moment in the evolution of local architecture and how we design for changing life-stages.
<cite>Chris Hayton, Principal, RotheLowman</cite>
</blockquote>

88 Melbourne will be Melbourne’s first apartment building to feature hand-crafted kitchen appliances by Sub- Zero and Wolf, the brand associated with professional chefs internationally including Heston Blumenthal, Nigella Lawson and Jamie Oliver.

At time of writing, 72 of 252 apartments within 88 Melbourne have been sold in the first 3 weeks, with 50% of the 1 bedroom apartments sold. Apartments range in size from 50-58sqm for 1 bedroom apartments, up to 88sqm for 2 bedroom and 113-158sqm for the 3 bedroom apartments with an average of five apartments per floor.

Penthouses occupy full floors and feature floor to ceiling heights of four metres.

Sales agent Matt George of Urban Activation said 88 Melbourne was a unique project for the city and with the introduction of stricter planning controls meant the chances of views being built out were less likely particularly above level 44. 88 Melbourne identified a gap in the market for owner-occupier driven apartment stock within the CBD and Southbank according to Matt.

<blockquote>
The city has not seen a CBD tower of this scale designed specifically with owner occupiers in mind before. While investors will undoubtedly be interested in this building, its residents will overwhelmingly reside here.

It reflects an evolution to a more New York urban style of living in Melbourne, as more and more families and empty nesters trade their family home for an urban pad with everything they need either in their building or on their doorstep.
<cite>Matt George, Urban Activation</cite>
</blockquote>

<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/88m_amenities_level.jpg" rel="gallery-all" title="Level 8 recreational facilities. Image courtesy New Sky Group"><img alt="" class="image-article-full-width-580px" height="321" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/88m_amenities_level.jpg?itok=7ynvjg42" title="Level 8 recreational facilities. Image courtesy New Sky Group" width="580"></a>

<figcaption>Level 8 recreational facilities. Image courtesy New Sky Group</figcaption></figure>The AFR has reported that 88 Melbourne has received consent from Planning Minister Richard Wynne to increase its height by six floors to an overall height of 199 metres, or 208 metres to top of plant. Construction of 88 Queensbridge is expected to commence in late October / early November with an expected construction programme of two years.
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Laurence Dragomir

New Sky thinking: 88 Melbourne

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The buzz around an oversupply of new apartments in Australia is exaggerated as many of the proposed developments will never eventuate because of financing problems, says online property agency iBuyNew, which specialises in off-the-plan properties.
Chief executive of iBuyNew, Mark Mendel, said many developers with approvals in place for apartment complexes will not complete the project because they are unable to obtain finance.
“While there is a lot discussion about banks toughening their lending policies for buyers, they are even tougher on developers,” Mendel said.
“Developers with no track record are getting a blanket ‘no’ from lenders across the board, while those with a limited track record are also finding it extremely tough.”
Mendel said the generalisation that Australia had an oversupply of apartments was too simple and one needed to look at the specifics of each state, region and suburb.
“There are definitely pockets of Brisbane, Melbourne and Sydney that may experience an oversupply of apartments.
‘But if you look at Zetland/Waterloo in Sydney’s inner south where thousands of new apartments have been built over the last five years, everyone expected an oversupply but capital growth has still been more than 10 per cent in the last 12 months.”
Mendel said South East Queensland was going through a massive transformation.
“This is becoming an international region with infrastructure developments such as the new $2 billion casino in Brisbane as well as the Gold Coast hosting the Commonwealth Games in 2018,” he said.
According to Mendel, the infrastructure boom will change the way the world sees Brisbane and South East Queensland in future. 
 
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prateek24-ezbwHMbNAk

Apartment oversupply overstated as many projects won't take off due to lack of financing: iBuyNew CEO

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The CBD's northern end is in full bloom so to speak as a variety of high-rise projects rapidly progress from paper designs to reality.

So much so one only needs to crane one's head skyward to see multiple tower cranes dotting the skyline in all directions. Hand in hand with this fundamental change to the look and feel of the CBD's northern reaches is the injection of purple facades over certain skyscrapers as design practice Elenberg Fraser seek to break the ubiquitous blue of many a Melbourne skyscraper. 

No less than 12 towers are under construction in the area, with the combined numbers as follows: 723 new student accommodation beds, 208 serviced apartments and 5,475 apartments.

See below a pictorial update of the CBD's emerging 'new face' 

<h2>Elizabeth Street's Big Four</h2>

<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/image8_5.jpg" rel="gallery-all" title="Having all your ducks in a row along Elizabeth Street"><img alt="" class="image-article-full-width-580px" height="1244" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image8_5.jpg?itok=KJKRql3C" title="Having all your ducks in a row along Elizabeth Street" width="580"></a>

<figcaption>Having all your ducks in a row : Empire, Light House, Victoria One and Vision Tower</figcaption></figure>They are indeed the 'Big Four' with Empire the shortest at 198 metres. Seen in the top image above, Brady's Vision Tower is all but externally complete whilst Victoria One, Light House and Empire's visible jump forms round out the quartet.

Under the guidance of Probuild both Victoria One and Empire's jump forms have skipped ahead of their respective floor plates, whilst Brookfiled Multiplex's Light House has employed a common placing boom to pour both floor plate and core, thus the difference in appearance.

In terms of physical finishes Light House shapes as being the most striking, with the undulating Elenberg Fraser-designed tower already showing some unique purple design features over its early levels. Victoria One has received its first glazed facade panels whilst the golden fins of Empire continue to rise rapidly.

<h2>La Trobe Street bulks up</h2>

<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/image9_6.jpg" rel="gallery-all" title="La Trobe Street also maintains strong construction activity"><img alt="" class="image-article-full-width-580px" height="719" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image9_6.jpg?itok=vZDKtJ1o" title="La Trobe Street also maintains strong construction activity" width="580"></a>

<figcaption>La Trobe Street also maintains strong construction activity</figcaption></figure>La Trobe Street has a case of the blues with three towers nearing completion and sporting predominantly blue facades. Hickory Group's La Trobe Tower build is racing toward its structural completion thanks to the Hickory Building System whilst nearby Eporo Tower is also close to topping out.

Further along La Trobe Street and the ultra thin Trillium Tower is also approaching its final height under the guidance of head contractor Built.

Whilst not on La Trobe Street but in close proximity, EQ Tower is approximately half way to its ultimate height. Sporting a uniform purple facade, the highly overt build has brought another shade of Elenberg Fraser purple to the area.

<h2>Down and dirty</h2>

<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/image7_8.jpg" rel="gallery-all" title="Projects yet to break ground level"><img alt="" class="image-article-full-width-580px" height="407" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image7_8.jpg?itok=0Cxw9SjQ" title="Projects yet to break ground level" width="580"></a>

<figcaption>Projects yet to break ground level</figcaption></figure>Aurora Melbourne Central, Avant, Scape Swanston Street and Conservatory are all currently at a preliminary stage of construction centred around site ground works.

Avant seen above left will have its core soon enough with footings in place whilst Scape Swanston has made rapid progression over the last month, with its tower crane starter already in place.

<h2>Future builds on the radar</h2>

Future builds for the area are headed by the twin-towered Queens Place development and Scape La Trobe Street which are well into their respective development processes.  

Future paper developments such as 48-52 La Trobe Street, the expected 200 metre Munro site tower, 98-102 Franklin Street, 97 Franklin Street and 111-125 A'Beckett Street as well as the extension to Melbourne Central Station as part of the Melbourne Metro Rail project will ensure Melbourne's Northern CBD will continue to see healthy levels of construction for some years to come.
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The CBD's northern construction boom in colour

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Approval is being sought for a mixed use Southbank skyscraper that will assume the form of a flower. Designed by Elenberg Fraser, 51-65 Clarke Street would surpass the 200 metre mark in a pocket of Southbank nestled alongside the West Gate Freeway.

Developer Newcity Group has also sought to add a unique feature to the project; a dedicated business and cultural exchange centre atop the tower that would seek to strengthen ties between Melbourne and southern China's economic powerhouse city of Guangzhou.

Documents within the planning application also indicate that the project would create thousands of construction jobs over the life of the project and 140 ongoing jobs linked to the hotel element within the tower.

The plans for 51-65 Clarke Street follows on from the site's successful sale during 2014, where <a href="http://www.theaustralian.com.au/business/property/cbd-site-snapped-up-for-304m/news-story/d7a0f65128861186f3ecab846e6bddd5">CBRE City Sales were able to secure the vendor $30.4 million</a> for the tri-fronted development plot.

<h2>51-65 Clarke Street planning application summary</h2>

<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/image2sbef.jpg" rel="gallery-all" title="51-65 Clarke Street as seen within the project Town Planning Report"><img alt="" class="image-article-full-width-580px" height="800" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image2sbef.jpg?itok=pCCbqTxq" title="51-65 Clarke Street as seen within the project Town Planning Report" width="580"></a>

<figcaption>51-65 Clarke Street as seen within the project Town Planning Report</figcaption></figure><ul>
<li>Site area: 1,787 square metres</li>
	<li>Current use: three storey commercial building</li>
	<li>Proposed 73 level tower at 245.05 RL to top of architectural feature</li>
	<li>112 hotel suites</li>
	<li>512 apartments: 166 x 1BR, 318 x 2BR, 28 x 3BR</li>
	<li>Business Hub: 1,042 square metres</li>
	<li>Level 8 &amp; 54 facilities and amenities</li>
	<li>Retail and function centre: 1,541 square metres</li>
	<li>120 car parking spaces and 327 bicycle spaces</li>
</ul>
<h2>Newcity for an old relationship</h2>

Newcity Development (One) Pty Ltd is behind the proposal, one of many Chinese-backed developers that have descended upon Melbourne in recent years.

According to the application's Town Planning Report, "The Newcity Group and more relevantly Cao Zhiwei, the Chairman of ‘Newcity Group’ is a member of the political advisory body of Guangzhou. This development, and in particular the exchange hub is seen as a significant step in establishing a destination and beacon for commerce between Guangzhou and Melbourne."

Thus far the following businesses have been noted as providing support for the intended business and cultural exchange:

<ul>
<li>The People’s Government of Guangzhou Municipality</li>
	<li>Chinese People’s Political Consultative Conference Guangzhou Committee</li>
	<li>Guangzhou Association for Friendship with Foreign Countries</li>
	<li>Guangzhou University</li>
	<li>Guangzhou Real Estate Association</li>
	<li>Department of Culture Guangzhou Municipality</li>
	<li>Guangzhou Women’s Federation</li>
</ul>
<h2>Seeking exemption</h2>

The site is subject to Design and Development Overlay Schedule 10 (DDO10), which was introduced into the Melbourne Planning Scheme during September 2015 as part of the broader C262 amendments implemented by Minister Wynne.

As initially submitted, the Elenberg Fraser design complied to podium height, street setback and tower setback requirements, although a plot ratio of 35:1 results. Above the discretionary desired plot ratio of 24:1, the development team has in turn requested a variation to allow the tower to proceed as planned.

It is worth noting that the development team sought and was granted an extension of time request for the submission during February 2016; what results from subsequent projects refinements remains to be seen.

<h2>Shaping Southbank</h2>

51-65 Clarke Street's form which is based upon the shape of a Bombax Ceiba Flower is the latest of a number of shapely Southbank talls to create headlines of late.

Last week it was widely reported that Crown Limited and Schiavello have formally submitted a proposal for their 1 Queensbridge Street tower. <a href="http://www.afr.com/real-estate/james-packer-proposes-australias-tallest-building-at-crown-in-melbourne-20160511-gosg43#ixzz48Nj5iVTC">According to Fairfax</a>, the tower would hold 306,666 of Gross Floor Area and maintain a plot ratio of 57:1.

<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/image5clarke.jpg" rel="gallery-all" title="54-56 Clarke Street markeying material. Image: CBRE City Sales"><img alt="" class="image-article-full-width-580px" height="339" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image5clarke.jpg?itok=Gs8Nm91w" title="54-56 Clarke Street markeying material. Image: CBRE City Sales" width="580"></a>

<figcaption>54-56 Clarke Street markeying material. Image: CBRE City Sales</figcaption></figure>Also in the news is the flowing 54-56 Clarke Street project created by BKK Architects which has been placed on the market with planning approval in tow.

At 240 metres 54-56 Clarke Street shadows 51-65 Clarke Street for height, with both future towers opposite one another.

<h2>51-65 Clarke Street development team</h2>

<ul>
<li>Developer: Newcity Group (Newcity Development (One) Pty Ltd)</li>
	<li>Architectural plans: Elenberg Fraser Architects</li>
	<li>Urban Context Report: Elenberg Fraser Architects</li>
	<li>Planning: Urbis</li>
	<li>Traffic Engineering Assessment: One Mile Grid Traffic Consultants</li>
	<li>Waste Management Plan: Wastech</li>
	<li>Sustainability Management Plan: Norman Disney and Young</li>
	<li>Economic Investment Impact Analysis: ShineWing</li>
	<li>Landscape and Masterplan: Aspect Landscape Architects</li>
	<li>Environmental Wind Assessment: MEL</li>
</ul>
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51-65 Clarke Street shapes as a Southbank tower with a twist

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Apartments are being built at a record-breaking pace.
The table below, supplied by CoreLogic RP Data to the BusinessInsider website, contains the top 25 locations for expected apartment completions over the next 24 months.
Dominated by Australia’s most populous states, New South Wales, Victoria and Queensland, CoreLogic RP Data calculates that there’ll be 231,129 new apartments built over the period.
<a href="/images/2016/05/12/Corelogic-RP-data-top-25-locations-for-apartment-completions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/12/Corelogic-RP-data-top-25-locations-for-apartment-completions.jpg" alt="">
With so much stock coming online at once there is increasing concern as to whether settlement valuations will actually meet the contract price of units in some of these locations.
Cameron Kusher, research analyst at CoreLogic RP Data, suggests that tighter restrictions on investor and overseas buyers from Australian banks could amplify settlement risks.
“Mortgage lenders have recently tightened their lending criteria, subsequently some people who have committed to off-the-plan units may not be able to borrow as much as they could at the time of signing the contract,” says Kusher.
“To compound the situation, three of the four largest banks have announced they will no longer be lending to overseas home buyers which may result in a larger number of contracts not progressing through to settlement, considering a larger proportion of off the plan unit sales are to overseas buyers.”
As a result of these factors and increased supply in some regions, Kusher believes there is a clear risk that some properties may be be worth less than the price they were purchased for off the plan.
{mijopolls 141}
 
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jonathanchancellor-7SQnKwU6yx

Australia's 25 apartment construction hotspot localities: CoreLogic RP Data

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SPONSORED POST
Residents of Avantra, the Longton Property Group’s $300 million smart-apartment project in Sydney’s Mascot, have a fresh lifestyle addition.  
Woolworths, BWS, Priceline and a host of other leading retail brands will be a short walk, with Meriton recently unveiling its $250 million <a href="https://www.meriton.com.au/news/meriton-unveils-impressive-new-mascot-central-retail-precinct/" target="_blank">Mascot Central project</a>.
The 5,000 sqm development will have around 20 shops with a mix of retail, cafes and convenience stores that include a full-line Woolworths supermarket, Oliver Brown, boutique florist with a café, Destination Roll -- best known for its pork rolls -- and Camy’s Charcoal Chicken.
The Mascot Central Retail Precinct is Meriton’s largest retail development to date, says a post on Meriton's website.
The retail precinct is expected to add to the appeal of the 328-apartment Avantra project by Sydney-based developer Longton.
Spread over a 8,762 square metre site Avantra comprises two multi-storey buildings, including ground floor retail and a courtyard garden.
The internal size of studios in Avantra are 60m² to 61m², one-bedroom plus MPR units are 75 m² to 82m², two-bedroom plus MPR units are 100m² to 127m² while three-bedroom plus MPR unit is 154 m². 
In addition, there will be communal areas such as a shared rooftop area in which residents can swim, barbeque and interact. 
Construction is in full swing and residents are expected to move in by December 2017.
In line with the developer's focus on community and home automation, Avantra residents will have their own information sharing network and a unique iButler service that aims to reduce shopping, car wash, pet care etc to a few clicks on a smart device. 
Residents will be able to use their provided iPads and other personal devices to book services simply by entering their postcode from any location and choosing the desired service.
It also including ‘smart’ digital lockers that residents can use to receive home delivered goods.
The information network, iCommunity will provide updates on news, weather and finance. 
The complex has been designed by architects MD+A and interior designer Archer + Wright.
Mascot had a population of 8,514 people, according to ABS census data 2011. Apartments made up 34.4 percent of the total dwelling composition in the area, the data showed.
For more information on Avantra, <a href="https://www.avantra.com.au/" target="_blank">click here</a>.
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Shopping comes to the doorstep of residents of Avantra in Sydney's Mascot

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The Lord Mayor of Parramatta Paul Garrard together with Crown Group CEO Iwan Sunito have marked the ‘topping out’ of Parramatta’s highly-anticipated development V by Crown Group. 
Positioned in the heart of Sydney’s second CBD, the landmark 29-storey tower reached its highest level of construction this week.
<img src="/images/2016/05/06/07v.jpg" alt="">
V by Crown will feature Parramatta’s highest bar with sweeping 270 degree views of Sydney.
“We have long believed in the strength and potential of Parramatta,” Crown Group CEO Iwan Sunito said.
“This is one of the fastest growing areas of Australia and key infrastructure and construction projects here will shape the future of the entire of Greater Sydney.
“Parramatta has seen dramatic change since we began construction of V by CrownGroup four years ago, and this project addresses the growing demand for high-quality apartments with resort-style facilities in Sydney’s second CBD,” Mr Sunito added.
Designed by Sydney-based Allen Jack + Cottier and Koichi Takada Architects, this 590-apartment development includes a private pool, gym, sauna, conference facilities, music room, theatrette, library, state-of-the-art archaeological showcase and rooftop sky bar; plus a boutique hotel and ground level retail-and-dining plaza. 
A plaque acknowledging the time capsule will be placed on the ground floor of the 29-storey building.
It is located less than 300m from Parramatta Square; Parramatta City Council’s $2-billion redevelopment precinct; and a short walk from Parramatta train station, Parramatta Heritage Parklands and Westfield Parramatta.
Lord Mayor of Parramatta Cr Paul Garrard said there was a significant amount of development taking place in Parramatta with $12 billion worth of projects in the pipeline. 
Parramatta’s population is forecast to grow 24 per cent by 2036, from a total of 190,495 to 236,864. 
Three expansive luxury penthouses occupy the two highest levels of V by CrownGroup, some of the most exclusive positions in Western Sydney.
Each penthouse is set over two floors and includes three bedrooms, a study, two bathrooms, a guest powder room, open-plan kitchen, indoor-outdoor living area, two car spaces and a large balcony. 
Set to open in summer 2016/17, the level-26 Sky Bar features an expansive 275sqm internal bar area, direct lift access, double height ceilings and a 90 sqm outdoor terrace with sweeping views of Parramatta’s Heritage parklands, Sydney’s CBD and Sydney Harbour Bridge. 
A stunning glass wall forming a unique backdrop behind the bar service area will take advantage of the bar’s sky high position.
Crown Group Director of Sales and Marketing Roy Marcellus said Parramatta had been missing the more glamorous high-end level of apartments available at V by Crown Group.
Two large V-shaped columns, each standing a striking three storeys tall; highlight the entrance to the development located at 45 Macquarie Street, corner of Macquarie and Marsden streets.
V by Crown Group is scheduled for completion in 2017.
Apartments are priced as follows:
<ul>
<li>Studios – from $556,000 – 565,000</li>
<li>1-bedroom – from $722,000 – 902,000</li>
<li>2-bedroom - from $930,000 – 1,208,000</li>
<li>3-bedroom penthouse – from $2,420,000</li>
</ul>
For more information call 1300 302 186 or visit <a href="https://www.crowngroup.com.au/" target="_blank">www.crowngroup.com.au</a>
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