Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Apartments

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Builder turned developer Pellicano Group is seeking approval for a residential apartment development in Oakleigh that promises to further propel the suburb toward higher density living. The Mount Waverley-based firm is proposing 111 residential apartments at 89-93 Atherton Road which if approved would become the tallest building within the suburb.

Over a 2,620sqm site, the land in question is located on the north side of Atherton Road and is currently for the most an open air at-grade car park.

<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_2.jpg" rel="gallery-all" title="Ground level perspective. Image courtesy SJB"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image8_2.jpg?itok=h_7BFMDc" title="Ground level perspective. Image courtesy SJB" width="580"></a>

<figcaption>Ground level perspective. Image courtesy SJB</figcaption></figure>Requested is a part 5, part 8 and part 10 storey residential building which would sit within the Oakleigh Activity Centre. Limited street frontage and space confines has seen project lead SJB create a multi-building outcome with the expectation that its orientation will allow for maximum natural light to penetrate the development.

Included within 89-93 Atherton Road are 26 single bedroom options supplemented by 85 dual bedroom apartments with either a single or double bathroom in tow. A 200.2sqm retail tenancy faces Atherton Road whilst communal facilities for the project are expected to include a terrace, indoor and outdoor gym and BBQ/teppanyaki area.

In context Pellicano Group's proposal is in close proximity to another SJB-designed apartment project, Atherton &amp; Atkinson, which is currently under construction.  Atherton &amp; Atkinson is second only to Kokoda Property Group's 94-apartment Infinity Oakleigh project which was completed during 2015 in terms of the current wave of Oakleigh apartment project completions.

<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_6.jpg" rel="gallery-all" title="Drummond Hill plus Atherton &amp; Atkinson are adding to the Oakleigh apartment mix"><img alt="" class="image-article-full-width-580px" height="268" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image7_6.jpg?itok=kiLVjDLq" title="Drummond Hill plus Atherton &amp; Atkinson are adding to the Oakleigh apartment mix" width="580"></a>

<figcaption>Drummond Rise plus Atherton &amp; Atkinson are adding to the Oakleigh apartment mix</figcaption></figure>The spread of apartments within Oakleigh has also landed upon Dandenong Road with a number of current projects also showing on the Apartments.com.au Project Database.  CGHS Developments have guided Drummond Rise to construction whilst the adjoining site is being marketed by developer Intraland as 8 Degrees Apartments.

Immediately north of Intraland's site another application is under consideration for a 34-apartment project at 16-18 Dalgety Street. The recent sale of 807-811 Warrigal Road to Chinese affiliated Viapac Australia Pty Ltd further underpins Oakleigh's apartment hot spot credentials with the 3,686 sqm site sold by CBRE City Sales featuring an indicative development scheme for 190 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/image1_2.jpg" rel="gallery-all" title="CBRE City Sales have foreshadowed 200 apartments for 807-811 Warrigal Road"><img alt="" class="image-article-full-width-580px" height="396" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image1_2.jpg?itok=2y8CT__a" title="CBRE City Sales have foreshadowed 200 apartments for 807-811 Warrigal Road" width="580"></a>

<figcaption>CBRE City Sales have foreshadowed 200 apartments for 807-811 Warrigal Road</figcaption></figure>Factoring in the numerous large at-grade car parks within the Oakleigh Activity Centre capable of taking sizeable development, the suburb's proximity to the massive drawcard that is Chadstone Shopping Centre as well as increased rail capacity within 5-10 years with the advent of the Melbourne Metro Rail project / Dandenong rail corridor improvements and the proliferation of smaller scale projects such as 33-35 Ferntree Gully Road, and Oakleigh is in the initial throes of an apartment-based transformation.
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silvermb

Pellicano Group cements Oakleigh as an upcoming apartment hotspot

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Apartments in Brisbane, Sydney and Coffs Harbour are in the peak of the market, according to the Herron Todd White December 2015 property clock.
Townsville, Mt Gambier and Canberra apartments are now deemed at the bottom of the market.  
The valuation firm said the residential property market has weakened during 2015 and it is searching for direction.
"While we have previously maintained that the market remains in the early stages of recovery, albeit tenuously and with a pace of recovery that is incredibly slow, we now believe the market has reverted to the bottom of the cycle," they said.
Herron Todd White's December report suggested the volume of house sales has remained relatively steady throughout 2015, however the median house price has declined.
"Our impression is that buyers are only purchasing properties they regard as affordable based on their current economic circumstances, leading to a reduction in the median price of houses that are actually transacting," they added.
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They also said that the unit sale volumes fluctuated during the year with the median sale price for established units remaining relatively steady.
The report mentioned that vacant land sales have declined and median sale prices have softened slightly, reflecting a lack of buyer confidence in the market stemming from the subdued economy, as well as the wide price differential between new versus existing houses retarding the economics of new house construction.
The valuation firm suggested the rental market has continued to demonstrate an over supply.
"It was our belief that during the course of 2015, the rental market would progressively return to the balanced market range following the construction of National Rental Affordability Scheme (NRAS) properties coming to a close," they said.
"This however has not been the case, with the overall trending vacancy rate remaining above the balanced market range."
Herron Todd White at the start of 2015 they predicted that the year ahead would remain cautious with the overall level of activity very much dictated by the local economic factors of unemployment and business confidence.
They said that whilst business confidence showed some improvement throughout the year, unemployment and job security along with limited local stimulus have heavily weighed on the direction and confidence of the residential property market. 
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Below is a list of the cheapest Townsville units (postcode 4810) sold recently that Property Observer could find:
<img src="/images/2015/12/16/700_towns.jpg" alt="" width="562" height="341">
1. A two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-west+end-120474529" target="_blank">4/105 Livingstone St West End Qld 4810</a> (above) sold for $182,000. The one level property last traded for $160,000 in 2013, an annual appreciation of 6.46 per cent.
<img src="/images/2015/12/16/Screen%20Shot%202015-12-18%20at%208.59.11%20AM.png" alt="" width="676" height="409">
2. A three-bedroom unit at <a href="https://www.realestateview.com.au/real-estate/19-ryan-street-north-ward-qld/property-details-sold-residential-9458778" target="_blank">10/19 Ryan Street, North Ward, Qld 4810</a> (above) was sold recently for an undisclosed price, however the agents put a price guide of low to mid $200,000.
<img src="/images/2015/12/16/Screen%20Shot%202015-12-18%20at%209.04.54%20AM.png" alt="" width="685" height="434">
3. A two-bedroom unit at <a href="https://www.realestateview.com.au/real-estate/6-24-henry-street-west-end-qld/property-details-sold-residential-9339432" target="_blank">10/6-24 Henry Street, West End, Qld 4810</a> (above) went backwards in price with the $280,000 sale in November. The spacious property sold for $335,000 in 2009, an annual depreciation of 2.62 per cent.
Below is a list of some of the units up for sale in Townsville:
<img src="/images/2015/12/16/main.jpg" alt="" width="566" height="424">
1. A one-bedroom unit is up for sale at <a href="https://www.realestateview.com.au/portal/search?sort=price&amp;viewAlertId=&amp;frequency=&amp;smt=Buy&amp;ftl=&amp;loc=Townsville%7CQLD%7C4810&amp;iss=True&amp;pt=Unit&amp;Kw=" target="_blank">4/1 Burke Street, North Ward, Qld 4810</a> (above). The apartment that last traded in 2003 for $101,000 comes with mid $100,000's expectations.
<img src="/images/2015/12/16/tend.jpg" alt="" width="525" height="334"> 
2. Around the median price, a three-bedroom apartment on <a href="https://www.realestateview.com.au/real-estate/1-7-gregory-street-north-ward-qld/property-details-buy-residential-9317150" target="_blank">27/1-7 Gregory Street, North Ward</a> (above) is up for sale for $398,800. Another property which is heading backwards in the market having last traded for $455,000 in 2008, an annual depreciation of roughly 1.8 per cent.
<img src="/images/2015/12/16/Screen%20Shot%202015-12-18%20at%209.18.41%20AM.png" alt="" width="532" height="336">
3. At the higher end, a three-bedroom apartment at <a href="https://www.realestateview.com.au/real-estate/72-the-strand-north-ward-qld/property-details-buy-residential-9644258" target="_blank">301/72, The Strand, North Ward</a> (above) is up for sale for $579,000. A slightly less depreciation than the previous property, but a depreciation none the less. The huge apartment in a complex with a swimming pool and gym last traded for $620,000 in 2003, a depreciation of around 0.75 per cent.
The median unit price for units in Townsville city was $420,000, according to the latest Corelogic RP Data For more information, <a href="https://www.htw.com.au/" target="_blank">click here</a>.
 
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jonathanchancellor-7SQnKwU6yx

Townsville apartments are at bottom of cycle: HTW property clock

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The Southbank development scene is forever in a state of flux, with last week no exception. News has flowed through concerning three of postcode 3006's biggest and best high rise projects, with all three demonstrating a high level of design ability relative to their stubby neighbours.

Surrounded by a host of smaller residential towers (some of which have little to no aesthetic design merit), 258 City Road, 93-119 Kavanagh Street and Australia 108 at 70 Southbank Boulevard are set to further enhance the look of Southbank. While looks are one thing, 93-119 Kavanagh Street in particular is set to fundamentally change the feel of its surrounding street level public domain; a boost for what is currently an unappealing and underutilised area.

A brief overview events of the past week reads as follows:

<h2>258 City Road</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/alt2343_cam_01.jpg" rel="gallery-all" title="Altus Developments' new City Road endeavour."><img alt="" class="image-article-full-width-580px" height="237" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/alt2343_cam_01.jpg?itok=jkAwH6kg" title="Altus Developments' new City Road endeavour." width="580"></a>

<figcaption>Altus Developments' new City Road endeavour.</figcaption></figure>Altus Developments has unveiled itself as the developer behind <a href="/buildings/home-southbank-256-260-city-road-southbank">256-260 City Road</a>. Moved on by Apex Vic Pty Ltd who gained approval for the skyscraper, the site is now set to host a 190 metre plus mixed use tower with a development value in the vicinity of $330 million.

12 levels of penthouses will crown the tower which was initially designed by Hayball and has since seen exterior adjustments to its appearance, resulting in a edgier design outcome. In addition Pan Pacific Hotels Group have committed to 130 serviced apartments within the project according to the developers website, with the balance set to be sold as private dwellings.

Probuild has been secured as the builder while Bella Charlton will handle project sales; identical to the team which Altus Developments put in place for their initial Melbourne high rise within Docklands.

<h2>93-119 Kavanagh Street</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/image49_2.jpg" rel="gallery-all" title="Kavanagh Street is set for some activation"><img alt="" class="image-article-full-width-580px" height="301" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image49_2.jpg?itok=s2618pGL" title="Kavanagh Street is set for some activation" width="580"></a>

<figcaption>Kavanagh Street is set for some activation</figcaption></figure>Arguably Southbank's most impressive development in waiting, 93-119 Kavanagh Street has taken a leap toward approval. Last night the Future Melbourne (Planning) Committee sat with the knowledge that Melbourne City Council planners have recommended the six tower project for approval..

Subject to conditions sought by Melbourne City Council planners, the $1.15 billion project championed by Malaysian firm PJ Development Holdings is one step closer to replacing a long vacant block. Planning Minister Richard Wynne will have the final say regarding approval, although a green light from Melbourne City Council tends to be a very good indicator in the current environment.

93-119 Kavanagh Street's numbers are impressive: <a href="/news/southbank-set-to-gain-a-new-park">7,000sqm of open space</a>, 2,610 dwellings, 59,000sqm of commercial office space, 687 hotel suites, 10,090sqm of leasable retail space and 894 podium car parking spaces.

<h2>Australia 108 officially commences construction</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/image48_2.jpg" rel="gallery-all" title="Australia 108 is on the rise. Image courtesy genesis"><img alt="" class="image-article-full-width-580px" height="389" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image48_2.jpg?itok=lcFAD4_b" title="Australia 108 is on the rise. Image courtesy genesis" width="580"></a>

<figcaption>Australia 108 is on the rise. Image courtesy genesis</figcaption></figure>Although equipment has been onsite for some time, yesterday marked the official launch of construction for the city's tallest building. The 319 metre Australia 108 will be delivered over five stages, with the final stage of the $500 plus build slated for delivery during 2020.

<blockquote>
This is a major milestone for the southern hemisphere’s tallest building, which will go where no development has ever gone before. The construction process will be complex, which is why we are proud to be working with Brookfield Multiplex – arguably Australia’s most experienced skyscraper builders.
<cite>Koh Wee Seng, Aspial CEO</cite>
</blockquote>

<blockquote>
Our appointment follows a fruitful Early Contractor Involvement process with World Class Land where we were able to build a partnership during the planning phase of the project and achieve the project deliverables. We look forward to successfully constructing this landmark tallest tower in the southern hemisphere for World Class Land.
<cite>Graham Cottam, Brookfield Multiplex Regional Managing Director</cite>
</blockquote>

<h2>Comment</h2>

It didn't seem all that long ago that Southbank received Planning Scheme Amendment C171 which cemented mandatory buildings heights in some areas, discretionary separation distances between towers and urban design provisions among other changes. At the time it was expected that the amendment would provide a more uniform tower height across Southbank.

Mercifully height variations have remained and many of the recent taller Southbank proposals are far superior in design and aesthetics to the earlier generic shorter Southbank 'boxes'. I suspect I am in the minority but a well designed tall tower should always usurp a squat, poorly designed building that adheres to a set height limit.

<a href="/new-apartments/elysium-54-clarke-street-southbank">Elysium</a> below is the prime example. Derided by Lord Major Robert Doyle as far too tall for its location, it is leaps and bounds ahead in terms of design ingenuity and quality. Elysium along with the three towers outlined above and projects such as Crown's <a href="/new-apartments/one-queensbridge-street-1-23-queensbridge-street-southbank">Queensbridge Tower</a> and <a href="/new-apartments/38-freshwater-place-southbank">38 Freshwater Place</a> maintain both height and exceedingly good design

Sometimes, just sometimes, height is not the devil it is made out to be.

<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/image1_1.jpg" rel="gallery-all" title="Elysium is not just another Southbank box"><img alt="" class="image-article-full-width-580px" height="328" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image1_1.jpg?itok=GPqUDC6R" title="Elysium is not just another Southbank box" width="580"></a>

<figcaption>Elysium is not just another Southbank box</figcaption></figure>
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Taller projects and better design outcomes on Southbank

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A string of new entries has pushed the Apartments.com.au Project Database to 1,000 listings. That is 1,000 projects which have a status of planning assessment, approved, registration &amp; sales or are under construction throughout metropolitan Melbourne.

2015 has seen the Project Database subject to expanded criteria and a subscription service, with both having aided in the database reaching the 1,000 listing milestone. The primary criteria for adding projects to our public database is that a medium or high-density project must have at least three levels, or at least 10 dwellings contained within.

Broken into its constituent parts, the current 1,000 listings are surprisingly even. 240 projects are at planning, 262 are listed as approved, 249 at registrations of interest or sales and a further 249 are under construction.

The Project Database also continues to shed more light upon lesser known participants within Melbourne's property development industry. In the past week alone, builders Aspekt Construction Group and EyeQ Constructions have been added for the first time, along with architecture firm DesignWorx Studio.

Overall the database sees 90 builders and 216 architecture firms represented within Melbourne's medium to high density development sphere.

<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/image31_0.jpg" rel="gallery-all" title="9 Prospect Street, Havenlea and Voyager are new Project Database additions"><img alt="" class="image-article-full-width-580px" height="252" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image31_0.jpg?itok=QS3Hw6fR" title="9 Prospect Street, Havenlea and Voyager are new Project Database additions" width="580"></a>

<figcaption>9 Prospect Street, Havenlea and Voyager are new Project Database additions</figcaption></figure>Notable recent additions to the Project Database have been generally residential in nature, headlined by Mirvac's 43 level Voyager project at Yarra's Edge. Glen Iris, Pascoe Vale, West Melbourne, Moonee Ponds, South Yarra and Box Hill have also seen new project additions in recent days, with Box Hill's 9 Prospect Street also a stand out listing.

It is perhaps fitting that the 1,000th listed project is a residential development located within what is a typical infill suburb. Cairnlea's first taste of apartment living is in the form of MakShaq's Havenlea project which will see dual buildings and 192 apartments inserted into an area that was the domicile to detached housing thus far. Times do indeed change!

<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_3.jpg" rel="gallery-all" title="Projects that have yet to enter the Project Database"><img alt="" class="image-article-full-width-580px" height="356" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image33_3.jpg?itok=8I6eDsHW" title="Projects that have yet to enter the Project Database" width="580"></a>

<figcaption>Projects that have yet to enter the Project Database</figcaption></figure>Apartments.com.au's shadow or holding database also keeps tabs on upcoming projects which have yet to hit planning or have yet to be publicly sourced. In excess of 100 projects are expected to be added to the Project Database over the coming months, with Fishermans Bend for example subject to as many as 15 new entries.

Seen above as examples are Elenberg Fraser's 488 Elizabeth Street giant and AZX Group's intentions for 28-78 Bouverie Street, Carlton, with the former set to join the official database shortly.

Subscribers to the Apartments.com.au Data Portal gain access to an expanded number of categories over and above what is publicly available on Apartments.com.au. Subscribers also have the ability to export the entire database to allow for deeper research and analysis.

To view more information about the Data Portal, see the sign up page.
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The Urban.com.au Project Database hits 1000!

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Meriton’s two-tower project Centrium in the business district of Chatswood was launched by Lucy Turnbull, on Thursday evening shortly after it was advised that she will head the new organisation charged with overseeing planning and development across Sydney, the chair of the Greater Sydney Commission.
Centrium will have one tower as serviced apartments and the other as long-term rental accommodation, according to Meriton Group CEO Harry Triguboff.
He said Meriton was giving the Chatswood business district much-needed rental options.
It is now is one of the North Shore’s major commercial, retail and residential districts. Some of Sydney's best shopping, dining and transport facilities can be found in Chatswood.
“If we see a gap in the market, we fill it accordingly,” Triguboff said.
“If we see that there is a great need for long term rental accommodation we retain the building to help boost the depleted rental market."
Chatswood was named after Charlotte Harnett, wife of the then mayor of Willoughby, Richard Harnett. Her nickname was ‘Chattie’ and wood came from the original wooded nature of the area. It was Chattie’s Wood and the date it actually changed to Chatswood is not precisely unknown.
The announcement that former Sydney Lord Mayor Lucy Turnbull will head up the Greater Sydney Commission was good for Sydney but there are major challenges ahead, says the Urban Taskforce CEO Chris Johnson.
“Her background as Lord Mayor of Sydney and her interest in metropolitan wide planning auger well for ensuring the commission acts with big picture thinking,” he said.
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Harry Triguboff to retain Meriton's Centrium towers in Chatswood

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City of Port Phillip are set to consider the merits of a handful of proposed apartment buildings within Fishermans Bend, representing the next tranche of projects due for a planning outcome within the precinct. Council will provide feedback on five separate projects that when combined are capable of adding 1,750 dwellings to the urban renewal zone.

While two of the projects under consideration are present on the Apartments.com.au project database, the three remaining applications are new to the public sphere.

Seen below are the projects which City of Port Phillip will consider during their December sitting.

<h2>261-281 Ingles Street, Port Melbourne</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/image126.jpg" rel="gallery-all" title="A new face for Ingles Street? Image courtesy Bruce Henderson Architects"><img alt="" class="image-article-full-width-580px" height="325" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image126.jpg?itok=boeZt65W" title="A new face for Ingles Street? Image courtesy Bruce Henderson Architects" width="580"></a>

<figcaption>A new face for Ingles Street? Image courtesy Bruce Henderson Architects</figcaption></figure>APN Property Group's plans for its 23,011sqm Ingles Street land parcel have been revised since first landing with the Metropolitan Planning Authority at the start of the year. The Bruce Henderson-designed project consists of three residential towers with the tallest at 52 levels or 155.69 metres.

1290 dwellings are included, consisting of 474 x 1 bedroom apartments, 719 x 2 bedroom and 97 x 3 bedroom apartments. Plans for the project show an intensely activated ground plane with 2,822sqm of retail space and a further 1,123sqm of mixed retail and/or commercial space.

1101 car spaces and 1447 bicycle spaces are included within the development.

<h2>163-169 Ferrars Street, Southbank</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/image128_0.jpg" rel="gallery-all" title="CHT Architects' design for Ferrars Street"><img alt="" class="image-article-full-width-580px" height="377" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image128_0.jpg?itok=2Mxxwznf" title="CHT Architects' design for Ferrars Street" width="580"></a>

<figcaption>CHT Architects' design for Ferrars Street</figcaption></figure>Also new is CHT Architects' work at 163-169 Ferrars Street. Auto shop Corso Body Works are currently onsite and have initiated the development which would see an 18 storey residential building approved, consisting of 68 x 1 bedroom, 28 x 2 bedroom and and 2 x 3 bedroom apartments.

An open-ended covered pedestrian breezeway will link Ferrars Street and Railway Place with two ground level commercial/retail tenancies included. Patterned and plain precast concrete with an off-white finish will act as an undulating feature wall to the site's boundary.

Incidentally 163-169 Ferrars Street is diagonally opposite 134-142 Ferrars Street which was subject to a 49 level building which during October was amended to an application for an 18 and 23 storey mixed use set of buildings, in line with imposed height restrictions over the precinct.

<h2>31-37 Buckhurst Street, South Melbourne</h2>

Developer Alpha 14 Property Group has ventured into Fishermans Bend for the first time with a residential building on Buckhurst Street. What is currently a warehouse is poised to become an 18 level building carrying 121 dwellings with studio, 1, 2 and 3 bedroom options.

Dual commercial tenancies cover 293sqm at ground level with 83 car spaces located within the podium.

Should it find approval 31-37 Buckhurst Street will likely proceed to construction at pace. Alpha 14 Property Group's West Melbourne residential project titled Bond Quarter received planning approval during October and is already subject to early site works.

<h2>51-59 Thistlethwaite Street, South Melbourne</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/image144_0.jpg" rel="gallery-all" title="Inhabit Design have included a public thoroughfare within their project"><img alt="" class="image-article-full-width-580px" height="617" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image144_0.jpg?itok=d-AQx0Qx" title="Inhabit Design have included a public thoroughfare within their project" width="580"></a>

<figcaption>Inhabit Design have included a public thoroughfare within their project</figcaption></figure>SPEC Property's attempt to gain a foothold in Fishermans Bend continues with plans for their Thistlethwaite Street project redesigned once more. The development which also faces City Road will top out at eight levels, half the initial 16 level tower proposed.

Despite the changes, 51-59 Thistlethwaite Street is bound for VCAT where its fate will be decided upon. 161 dwellings are proposed for the development, as is 1,278sqm of communal space.

As part of the development's slant toward community facilities a public toy exchange will be included.

<h2>15-35 Thistlethwaite Street, South Melbourne</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/image146_1.jpg" rel="gallery-all" title="Initial and revised schemes. Image courtesy ROTHELOWMAN"><img alt="" class="image-article-full-width-580px" height="341" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image146_1.jpg?itok=monYVBni" title="Initial and revised schemes. Image courtesy ROTHELOWMAN" width="580"></a>

<figcaption>Initial and revised schemes. Image courtesy ROTHELOWMAN</figcaption></figure>15-35 Thistlethwaite Street is representative of the change thrust upon Fishermans Bend via the introduction of reworked height controls. The initial design of 30 levels has made way for a far more modest project at 8 levels, also the handy work of firm ROTHELOWMAN.

Planning documents also show Linkon Pty Ltd as the developer behind the amended application, a change from Circa Property Group who initiated the taller development.

The 8 level complex would see 49 single bedroom and 34 dual bedroom dwellings above three retail tenancies and car parking provisions for 72 vehicles.
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Further Fishermans Bend projects revealed

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In hindsight it seemed like such an obvious choice that Box Hill would be sit at the peak of high density living in greater Melbourne. A natural hub with multimodal transport options, established health, retail and entertainment offerings and a diverse population, it has the ingredients to underpin what is an now unprecedented boom in apartment living within postcode 3128.

In all actuality Box Hill's rise has been a long process to this point, with a string of unrealised projects over the past decade. While Whitehorse City Council have been proactive in accepting measured higher density living within Box Hill's core, the market dynamics were such that various projects never actually proceeded to construction.

It has only been in the last 12 to 18 months that Box Hill has asserted itself as the dominant suburban apartment hot spot, with the exclamation mark coming in the form of Whitehorse Towers. With its 511 apartments selling in no time and its taller tower soon to reach 115 metres, Whitehorse Towers is the first in a new batch of buildings that will transform Box Hill.

<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/image93_2.jpg" rel="gallery-all" title="A selection of Box Hill projects that never saw the light of day"><img alt="" class="image-article-full-width-580px" height="430" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image93_2.jpg?itok=LO2wjXCX" title="A selection of Box Hill projects that never saw the light of day" width="580"></a>

<figcaption>A selection of Box Hill projects that never saw the light of day</figcaption></figure>A sweep through the Apartments.com.au Project Database shows 23 current residential apartment projects within Box Hill, with in excess of 2,250 apartments in play. Of these 23 projects, 9 are currently under construction with the latest to join the ranks being Elland Avenue which began piling during November.

Further to these a number of other noteworthy projects are also on the Box Hill radar, the most prominent being 12-14 Nelson Road which is seeking approval for a 22 storey building containing 164 dwellings. Whitehorse City Council have indicated 12-14 Nelson Road is satisfactory in its site context and two further apartment developments at 5 Rodgerson Road and 9-11 Bruce Street received planning permits during October, the latter project advancing via VCAT.

Factoring in the projects that have yet to enter the Apartments.com.au Project Database, the overall count of current apartment projects centred around Box Hill's core would exceed 30; a massive number in context.

<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/image95.jpg" rel="gallery-all" title="Box Hill's largest to date - Sky One and Whitehorse Towers"><img alt="" class="image-article-full-width-580px" height="376" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image95.jpg?itok=xoGp0-pA" title="Box Hill's largest to date - Sky One and Whitehorse Towers" width="580"></a>

<figcaption>Box Hill's largest to date - Sky One and Whitehorse Towers</figcaption></figure>The smaller projects underpin Box Hill's apartments success story, it's the tall projects surrounding Whitehorse Road that garner public attention. The latest to break cover is the most recent incarnation of 545 Station Street which has appeared in many guises, but is now known as Sky One.

Expected to be Box Hill's tallest development, Sky One is championed by Golden Age Group after their purchase of the site from AXF Poperty. Registrations of interest are open for the project which will be officially launched during early 2016.

The northern side of Whitehorse Road will likely also receive a substantial tower with plans afoot for a mixed-use building tower for the Spotlight Box Hill outlet that may well usurp Sky One as the suburb's tallest building.

<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/image91_2.jpg" rel="gallery-all" title=" 9-11 Ellingworth Parade and 701 Station Street. Image courtesy Lindellas and Artisan Architects"><img alt="" class="image-article-full-width-580px" height="259" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image91_2.jpg?itok=PJ_T2YO_" title=" 9-11 Ellingworth Parade and 701 Station Street. Image courtesy Lindellas and Artisan Architects" width="580"></a>

<figcaption>9-11 Ellingworth Parade and 701 Station Street. Image courtesy Lindellas and Artisan Architects</figcaption></figure>Box Hill's popularity has also flowed into land sales with multiple development sites currently on offer. The buoyant residential sector has evidently given vendors confidence to hit the market with the expectation of receiving top dollar for their respective sites.

Seven large residential development land parcels are currently on offer within Box Hill, with two holding approval for residential schemes, namely 701 Station Street and 9-11 Ellingworth Parade. These sites follow hot on the heels of 820 Whitehorse Road which was sold recently with the onsite commercial complex expected to make way for a tower in excess of 25 levels.

The frequency and scale of the residential projects flowing into Box Hill have seen it become the apartment hot spot right now. A time of intense change is upon the suburb.

The following is a list of all Box Hill projects we have added to the Apartments.com.au project database to date.
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Box Hill: The new suburban apartment powerhouse

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GUEST OBSERVER
The property market always moves reliably in swings, peaks and corrections. Just like the stock market it can be fuelled by skittishness, nerves and sheer hype. When you add emotion to that, you get a dangerous mix.
A number of property experts, from Goldman Sachs, Merrill Lynch and the University of NSW and many others have all come out recently to warn of an oversupply of apartment products and a projected decline in demand. While Melbourne seems to be headed for a certain oversupply, Sydney is also in danger of falling down this path.
In such a fertile time for property investment how could this be? To understand this you need to comprehend the historic reasons that have led us here.
In the aftermath of the GFC confidence in the property market, in any market really, was at an all time low. It was extremely difficult for even some of the strongest property groups in Australia to get their projects up. Major lenders were very cautious and the whole market was flat and carefully ticking along. Land developers were actually trying to encourage people to buy blocks out in Western Sydney – which, only five years on, seems absurd now.
The real trigger that caused a turnaround was the last Federal election. This led to a feverish run in investor sentiment. A realisation dawned that it wasn’t the end of the world and that financially speaking. Australia had actually been in pretty good shape.
Sentiments quickly changed and this caused a sharp spike in prices. As everyone started buying land or apartments there was a massive price escalation. The problem, of course, is that it takes a while to get any stock on the market. Consider the general bureaucratic hurdles in getting a DA approval or land subdivisions.
The low interest rates, a relatively strong economy and the appeal of property (which has now overtaken the share market as a better place to invest cash) all served to create hype and euphoria. Add to this the average assets in Sydney and Melbourne being so much higher than in other parts of Australia, has allowed people to borrow off their equity and make big investments elsewhere. Then, because everyone has seen values increase quickly in a short space of time, this has led to a frenzy of buying and investment.
So a log jam of development submissions and big land projects from a few years ago is now bursting into fruition. The problem is that it’s now outstripping demand. A recent report by BIS Shrapnel has estimated that we’ll see almost  12,000 new apartments built in Sydney in the next three years. There’s still quite a waiting list in land out in western Sydney as this is now all that’s available in Sydney.
The big problem has been buying the wrong kind of product at the wrong time. Specifically the mistakes made by investors has been mostly found in off the off the plan products. Developers are very good at feeding off hype. They will create the most gorgeously glossy brochures loudly broadcasting apartments that you can buy into, starting at only $700,000 for a one-bedroom apartment in Sydney.
But, as we often discover, that can mean you’re buying the worst apartment and the prices in the complex just start escalating from there. Many investors are buying believing the recent gains will continue at the same pace. What they risk is over-paying or buying at the top of the market and seeing their prices go sideways for many years. The climate is similar to 2002/2003 wherein Sydney had already seen an incredible run up in prices, when the market then peaked.
Sydney then had the worst property market for a decade, in terms of growth up to 2012. The last 3 years have been quite dramatic, yet it would be very foolish to pay record prices at the top of the market hoping that in 12-18months you will have made a gain. The opposite could very well be the result.
The other problem has been investors trying to get finance for off-the-plan apartments. Loan approvals only last three months yet the settlement may not occur for 12 – 18 months. In the background, APRA have been putting a squeeze on banks to slow down investor lending, so this too has a consequence.
So by the time the investor is ready for finance, the banks may reduce their initial valuation of the property and demand a higher deposit. For investors working with tight margins this can be disastrous. The investor is then unable to settle because they don’t have enough cash and the banks have valued lower. They default and lose their deposit and their property becomes another form of supply on the market.
 This then creates a perfect storm where values start dropping and the positive sentiment disappears. This has another consequence that with an oversupply of apartments (often negatively geared) there’s too much competition and so rents start dropping, which in turn pushes the investment downwards.
 So from a confident position of market jubilation it’s remarkable and instructive how quickly things can change. The key message is that it doesn’t matter how good the conditions are if you purchase the wrong product and don’t look at the bigger picture. Far too many first time investors make classic mistakes through eagerness and not talking to an expert.
It’s worth remembering that a market driven by hype will always be found out.
 
SAM KHALIL is founder and director of <a href="https://www.dpn.com.au/" target="_blank">Direct Property Network</a>.
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Apartment oversupply will ensure recent gains not continue at same pace: DPN's Sam Khalil

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2015 shapes as a pivotal year for Central Equity with three current sizebale planning applications for the Southbank-based developer set to underpin their intentions for the coming years. After highlighting <a href="/news/central-equity-breaks-the-mould-71-87-city-road-southbank">71-87 City Road during October</a>, the wraps are now off 268-274 City Road on Southbank and 556-558 Lonsdale Street within Melbourne's CBD.

The latter two if delivered in their initial form would have a joint development value approaching $350 million. Coupled with 71-87 City Road the three proposals which are still before the Minister for Planning and DELWP would all comfortably surpass the 200 metre height benchmark, a first for Central Equity which has for years elected to stick with towers of lesser height.

While the towers will almost invariably be subject to design refinements as they pass through the planning process, they do represent Central Equity's next tranche of high density projects. In recent years Central Equity like many other developers in the Melbourne apartment market has enjoyed robust demand for its product which has seen a handful of their projects sell heavily in next to no time.

The towers at planning are a continuation of Central Equity's penchant for not tinkering with their winning formula. Doig Architecture and Guilford Bell &amp; Graham Fisher Architects are the design firms behind either tower highlighted below, each having an established relationship with the prolific developer which has yielded many residential projects over recent years.

<h2>268-274 City Road development 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/image73_2.jpg" rel="gallery-all" title="Doig Architecture's 268-274 City Road"><img alt="" class="image-article-full-width-580px" height="876" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image73_2.jpg?itok=AM3omSa9" title="Doig Architecture's 268-274 City Road" width="580"></a>

<figcaption>Doig Architecture's 268-274 City Road</figcaption></figure><ul>
<li>Design: Doig Architecture</li>
	<li>Proposed: 70 level tower at 222 metres</li>
	<li>Historic building onsite retained within podium structure</li>
	<li>570 apartments: 237 x 1BR, 271 x 2BR, 62 x 3BR</li>
	<li>273sqm ground floor retail tenancy</li>
	<li>Provision for 221 vehicles and 309 bicycles</li>
	<li>Level 10 amenities including terrace, pool, cinema and gym</li>
	<li>Estimated development cost: $120 million</li>
</ul>
<h2>556-558 Lonsdale Street development 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/image74.jpg" rel="gallery-all" title="556-558 Lonsdale Street in its initial form"><img alt="" class="image-article-full-width-580px" height="983" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image74.jpg?itok=VMIiJIQ3" title="556-558 Lonsdale Street in its initial form" width="580"></a>

<figcaption>556-558 Lonsdale Street in its initial form</figcaption></figure><ul>
<li>Design: Guilford Bell &amp; Graham Fisher Architects</li>
	<li>Likely to be titled Melbourne Grand Apartments</li>
	<li>Site area: 2,187sqm</li>
	<li>Proposed: 67 level tower at 233 metres to top</li>
	<li>889 apartments: 100 x studio, 262 x 1BR, 366 x 2BR, 161 x 3BR</li>
	<li>3 ground floor retail tenancies</li>
	<li>Provision for 308 vehicles and 275 bicycles</li>
	<li>Amenities including pool, gym, theatre room, function room and common area</li>
	<li>Estimated development cost: $200 million</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/image75_0.jpg" rel="gallery-all" title="71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street"><img alt="" class="image-article-full-width-580px" height="352" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image75_0.jpg?itok=UegcAPRs" title="71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street" width="580"></a>

<figcaption>71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street</figcaption></figure>556-558 Lonsdale Street and 268-274 City Road join 71-87 City Road as Central Equity's projects which are still at planning, with all three lodged just prior to the implementation of the Metropolitan Planning Levy which commenced on 1 July 2015. In addition, 54-68 Kavanagh Street was granted a planning permit in recent days, allowing for a further 597 dwellings.

Brookfield Multiplex has established itself as Central Equity's builder of choice, with three builds for the developer in progress. Southbank's 1 Balston Street is at piling while 612 Lonsdale Street and 601 Little Lonsdale Street are well into construction.

Overall Central Equity has approximately 1,410 apartments currently under construction, 597 approved by way of 54-68 Kavanagh Street and 2,241 seeking approval as per the initial planning submissions mid year.
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Two giants round out Central Equity's massive development pipeline

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A string of recent planning approvals throughout inner Melbourne has allowed for the addition of some 750 dwellings. Spread over eight separate projects, the residential schemes further add to Melbourne's pipeline while not being confined to one particular postcode or municipality.

Strictly the only non residential approval, Southbank's 64-68 Clarendon Street, has seen its permit issued during November after being lodged during February of this year. Designed by Bruce Henderson Architects, the 27 level tower will accommodate 161 serviced apartments.

Located diagonally opposite Crown Metropol Hotel, the approved tower is now likely to be touted to prospective operators.

Also in Southbank and Evolve Development look to have gained final approval for 25-27 Coventry Street with all public applications for the intended 20 level tower noted as approved. 25-27 Coventry Street shapes as Evolve Development's next major inner city project following Jewel Apartments heading to construction and the firm's sale of Williamstown's high density Waterline Place project.

<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/image68_4.jpg" rel="gallery-all" title="25 Covenrty Street and Southbank's latest hotel"><img alt="" class="image-article-full-width-580px" height="414" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image68_4.jpg?itok=rF9W3xFd" title="25 Covenrty Street and Southbank's latest hotel" width="580"></a>

<figcaption>25 Covenrty Street and Southbank's latest hotel</figcaption></figure>Two projects have found favour north of the CBD. Alpha 14 Property Group are poised to receive final planning approval for 386-394 Spencer Street, West Melbourne after receiving a notice of decision to grant a permit during November.

Set behind retained historic buildings, the new 16 level apartment building will rise with a distinctive pink motif applied to the facade if initial plans for the project are realised. The Hayball creation is likely to consist of 105 apartments split between one and two bedroom options.

Arden-Macaulay Precinct has received another approval with 114-116 Haines Street given the green light during October. It joins a number of other immediate residential projects which will transform the pocket of North Melbourne into a high density, mid-rise enclave.

A creation of Kyriacou Architects, 114-116 Haines Street will present as a 10 level building with in excess of 30 apartments included.

<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/image70_1.jpg" rel="gallery-all" title="Haines Street and Spencer Street will receive new residential buildings"><img alt="" class="image-article-full-width-580px" height="412" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image70_1.jpg?itok=ccKo2WfH" title="Haines Street and Spencer Street will receive new residential buildings" width="580"></a>

<figcaption>Haines Street and Spencer Street will receive new residential buildings</figcaption></figure>VCAT have ruled on two noteworthy projects within City of Port Phillip.

Highlighted on Apartments.com.au during the early stages of 2015, a <a href="/news/designed-to-inspiire-k1-union-street-melbourne">unique tree-laden proposal</a> has been given the green light at K1 Union Street adjacent to St Kilda Road. KMK Developments received their permit for the project this month, allowing for the delivery of a 13 level apartment building with 13 whole floor apartments split between 3 or 4 bedroom options.

<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/image59_1.jpg" rel="gallery-all" title="K1 Union's unique exterior and viewline along with 550 Williamstown Road"><img alt="" class="image-article-full-width-580px" height="379" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image59_1.jpg?itok=ZcQO1I2f" title="K1 Union's unique exterior and viewline along with 550 Williamstown Road" width="580"></a>

<figcaption>K1 Union's unique exterior and viewline along with 550 Williamstown Road</figcaption></figure>Also gaining approval is 550 Williamstown Road with VCAT issuing a permit for the 967sqm site that borders but is not within the Fishermans Bend Urban Renewal Area. The Jackson Clements Borrows design will see 33 apartments created within a six level building that sits opposite Port Melbourne Cricket Ground.

A permit for the project was issued within the last two weeks.

Slightly further afield and 649 Chapel Street has progressed after a number of failed proposals for the site. During October a notice of decision to grant a permit was advertised for the project which Malaysian developer Mitraland has slated as <a href="/news/malaysias-mitraland-looks-to-enter-the-melbourne-apartment-market">their first Melbourne project</a>.

Valued at $50 million, the project will deliver 72 apartments within a narrow 20 level residential building designed by Fender Katsalidis Architects. At 488sqm, the site and subsequent tower will eventually be wedged in between appreciably larger residential developments.

<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/image63_3.jpg" rel="gallery-all" title="649 Chapel Street and Brunswick West's 350-364 Moreland Road"><img alt="" class="image-article-full-width-580px" height="328" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image63_3.jpg?itok=Tw4Vrn16" title="649 Chapel Street and Brunswick West's 350-364 Moreland Road" width="580"></a>

<figcaption>649 Chapel Street and Brunswick West's 350-364 Moreland Road</figcaption></figure>VCAT has also ruled on a deceptively large apartment development in Brunswick West. 350-364 Moreland Road presents as a four level building to the street, yet is large enough to carry in excess of 70 apartments over a 2,082sqm site. In planning for over a year, the project was given the green light during September.
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