Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Bourke Street

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A three-storey Bourke Street, Melbourne retail building, home for many years to jewellers Kozminsky, has been bought by the Giannarelli family for $7.6 million.
They are well known in Melbourne for its stonemason business.
Bidding began at $5 million from Grant Cohen, whose family own The Block arcade with the property called on the market at $6.5 million.
The corner 421 Bourke Street building, which dates back more than 150 years, last traded in 1976 at $295,000.
It was sold at a building rate of more than $25,000 per square metre.
It followed the closure of tenants, Kozminsky in March this year after 165 years in business. 
The building was listed by the Shaw family through CBRE.
The property was built as as a single-storey bluestone office for the stock and station agents Kaye Butchart &amp; Co in 1859.
Bourke Street's last sale was earlier this year when the vacated home of Society restaurant sold for $8.07 million.
The vacant three-level building, listed as notable under city planning laws, was sold by the Codognotto family who had owned it since 1981.
The 23-29 Bourke Street premises sold through Gross Waddell's Raoul Salter.
The Italian-themed Society restaurant was first opened by immigrant Guiseppe Codognotto in 1924 closing just last year.
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j.ballantyne1990-6AQqhLzZaK

Kozminsky building on Bourke Street, Melbourne sold

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It just wouldn't be Melbourne at the moment without another Asian-backed property developer holding grandiose plans for a clutch of forthcoming inner-city apartment towers. Eagle-eyed Apartments.com.au contributor Nicholas Harrison has spotted the latest in a conga line of new developers seeking their slice of the Melbourne action.

Sydney-based Besgate Group is the latest entrant into the market with three sizeable residential towers in the works, including 640 Bourke Street which may well tip over 270 metres in height. The privately owned consortium has had exposure of sorts in Melbourne previously, listing La Banque as their only Melbourne project although Melbourne-based Brady Group was the developer for the Little Lonsdale Street apartment tower.

Previous to their Melbourne aspirations, Besgate Group have completed a string of projects in both Sydney and predominantly Shanghai over the past decade, with B1 Tower Parramatta and Atria North Sydney among their recent projects. Their Melbourne projects are as follows:

<h2>140 King 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/king_2-750x283.png" rel="gallery-all" title="Recently to planning. Image courtesy Besgate"><img alt="" class="image-article-full-width-580px" height="219" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/king_2-750x283.png?itok=pcWdOkDv" title="Recently to planning. Image courtesy Besgate" width="580"></a>

<figcaption>Recently to planning. Image courtesy Besgate Group</figcaption></figure>Lodged with the State Government for assessment earlier this month, Besgate Group carry images of the proposed residential tower on their website. Le Roi as it's expected to be named, will replace a three-level office building with a 58-level residential tower complete with an articulated black exterior.

Situated over a 781sqm block, the tower will hold 271 apartments, with an element of commercial space expected as well. At approximately 180 metres in height, the project has an estimated value of $300 million and is in close proximity to the 224-metre Bourke Place Tower.

<h2>558-566 Swanston 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/swanston_1-750x283.jpg" rel="gallery-all" title="Massing concept for 558-566 Swanston. Image courtesy Besgate"><img alt="" class="image-article-full-width-580px" height="219" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/swanston_1-750x283.jpg?itok=Ofdq1OGF" title="Massing concept for 558-566 Swanston. Image courtesy Besgate" width="580"></a>

<figcaption>Massing concept for 558-566 Swanston. Image courtesy Besgate Group</figcaption></figure>Besgate Group landed the former City Peugeot dealership at 558-566 Swanston Street which was offered for sale during late 2013. The 1,396sqm land holding is located midway between the CBD and Melbourne University, with 29 metres of frontage to Swanston Street and sight lines over Lincoln Square.

As seen above, the massing form for the project suggests a residential tower just shy of 20 levels, with retail offerings expected at ground level. Dubbed The Ivy, 200 apartments are slated for the project with a value in excess of $150 million.

<h2>640 Bourke 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/bourke_2.jpg" rel="gallery-all" title="Artist's impression of Le Poste. Image courtesy Besgate"><img alt="" class="image-article-full-width-580px" height="219" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/bourke_2.jpg?itok=Zc-ebBbl" title="Artist's impression of Le Poste. Image courtesy Besgate" width="580"></a>

<figcaption>Artist's impression of Le Poste. Image courtesy Besgate Group</figcaption></figure>Last but by no means least is Le Poste which is expected to grace the former Australia Post offices at 640 Bourke Street. The site itself has planning approval for a Hayball-designed <a href="/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">42 and 32-level residential complex</a> carrying 563 apartments.

Diagonally opposite the recently approved 226 metre Elenberg Fraser-designed <a href="/buildings/premier-tower-134-160-spencer-street-melbourne">134 Spencer Street</a>, Besgate Group have plans for an altogether larger development for their Bourke Street address. A mixed-use scheme of 85 and 55 levels is expected with a total of 989 apartments within.

Valued in excess of $600 million, the project will maintain the existing heritage listed façade of the original Australia Post Office, with the remainder of the site likely to make way for the tower estimated at 270 metres in height.
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silvermb

Besgate Group readies their surge into the Melbourne apartment market

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Last Friday on a warm, sunny day in Melbourne the <a href="http://grimshaw-architects.com">Grimshaw</a> office undertook a site visit of the 699 Bourke Street project which topped out recently. Designed by Grimshaw on behalf of <a href="http://www.mirvac.com/">Mirvac</a>, (in their role as developer, builder, asset owner and manager) the building upon completion will become the new home of energy provider <a href="http://www.agl.com.au/about-agl">AGL</a>, consolidating its Melbourne operations to one location.

As part of the move, AGL will also adopt a new style of working, Smarter Working, which aims to enhance collaboration, allow for better use of space and resources and re-energise the workplace. An internal atria and 5 sets of internal stairs navigate AGL’s tenancy, each enabling improved vertical and visual connectivity throughout the premises.

<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/gsa002_v01c_a.jpg" rel="gallery-all" title="699 Bourke Street hero shot. © Mirvac"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/gsa002_v01c_a.jpg?itok=rLEDSSck" title="699 Bourke Street hero shot. © Mirvac" width="580"></a>

<figcaption>699 Bourke Street hero shot. © Mirvac</figcaption></figure><h2>Key features</h2>

<ul>
<li>19,452sqm NLA</li>
	<li>2,595sqm floor plates</li>
	<li>Never to be built out, exceptional views to north, east and west elevations of every office floor</li>
	<li>Plus connectivity to the future south tower and integrated public realm via the 'internal street' connecting Bourke and Collins Streets</li>
	<li>100% occupiable desk space with 12m of fully glazed elevations</li>
	<li>6 star Greenstar certified design</li>
	<li>Open air roof top terrace and double height, fully glazed 'lantern' function room on the top level</li>
	<li>Over 3.5x the 6 star Greenstar requirements for end of trip facilities (including around 400 lockers, 275 bike racks and state of the art change facilities)</li>
	<li>Cogeneration, rainwater catchment, 360 solar panels, occupancy enabled lighting, provisions for electric car charging, sustainability integrated digital signage</li>
</ul>
Fitout works are due to commence later this year with a planned move by AGL during mid 2015.

<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/v04e_141001.jpg" rel="gallery-all" title="699 Bourke in context with the future South tower at 664 Collins Street. © Mirvac"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/v04e_141001.jpg?itok=y2SM84gr" title="699 Bourke in context with the future South tower at 664 Collins Street. © Mirvac" width="580"></a>

<figcaption>699 Bourke in context with the future South tower at 664 Collins Street. © Mirvac</figcaption></figure>Coupled with great weather on the day, the site provides excellent views of the CBD, Southbank, Docklands and allowed individuals an up close opportunity to appreciate the Southern Cross Station Roof. So please enjoy a selection of photos in the slide show below from a glorious Melbourne afternoon on site at 699 Bourke Street.
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Laurence Dragomir

Grimshaw office tour > 699 Bourke Street, Docklands

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Over a year ago, Apartments.com.au wrote on the forthcoming <a href="/news/regenerating-office-buildings-on-bourke" target="_blank">redevelopment of 570 Bourke Street</a>, formerly known as Marland House. Leap forward and contractor Brookfield Multiplex are currently in the early stages of breathing new life into the 1972 vintage office complex. Of an age where owner Charter Hall (via their Core Plus Office Fund) considered a number of directions for the asset, they have embarked upon a $150 million project with the intention of creating a workplace that meets and exceeds contemporary tenant expectations.

So what are those expectations? Look no further than Docklands to see that large corporations value large floorplates. In Charter Hall's words "To attract and retain the best people, companies are demanding expansive, lifestyle-oriented workspaces."

To that end 570 Bourke Street will become Melbourne CBD's largest vertically connected office space. Nestled within an established legal and financial precinct, the development will provide 28,000 square metres of contiguous office space across 11 levels, achieved by extending the floor plate to both Bourke and Little Bourke Street frontages.

<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/570_bourke_lobby01.jpg" rel="gallery-all" title="Entering 570 Bourke Street's foyer. Image © Hassell Studio"><img alt="" class="image-article-full-width-580px" height="261" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/570_bourke_lobby01.jpg?itok=CR_2yx9X" title="Entering 570 Bourke Street's foyer. Image © Hassell Studio" width="580"></a>

<figcaption>Entering 570 Bourke Street's foyer. Image © Hassell Studio</figcaption></figure><blockquote>
Space efficiencies gained from large floors usually come at the expense of amenity in Melbourne. 570 Bourke is unique because it provides the space we know tenants crave, but in an already thriving and established part of the city.
<cite>Chris Forbes, Charter Hall CPOF fund manager</cite>
</blockquote>

<blockquote>
We usually only see floor plates of these sizes outside of the CBD where the option to expand within the building is not typically available,” Mr Sutherland said. 570 Bourke stands out for its ability to give tenants the choice and flexibility to expand in the CBD as their business flourishes, while benefiting from space efficiencies and the building’s amenity.
<cite>Hamish Sutherland, Knight Frank national director of CBD leasing</cite>
</blockquote>

Designed by Hassell Studio, the reincarnated project will feature a light-filled glass atrium. Prominent through all 10 levels, the atrium will allow natural light to penetrate the workspaces while inter-connecting stairways enables 570 Bourke Street to boast the largest vertically integrated floor plates available in the CBD. At 2,700 square metres per floor, this equates to an impressive 270 staff per level over the expanded footprint.

With maximum flexibility and providing a dynamic work space in mind, each of the expanded floors have been designed with malleable spaces, allow tenants to link and enclose areas as desired. 'Suspended' meeting room pods peer over the internal atrium, adding visual pop to the internal 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/image60.jpg" rel="gallery-all" title="570 Bourke Street. Image © Hassell Studio"><img alt="" class="image-article-full-width-580px" height="322" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image60.jpg?itok=8Y7jQ2_d" title="570 Bourke Street. Image © Hassell Studio" width="580"></a>

<figcaption>570 Bourke Street. Image © Hassell Studio</figcaption></figure><h2>Project highlights</h2>

<ul>
<li>Developer: Charter Hall</li>
	<li>Design: Hassell Studio</li>
	<li>Project Manager: PDS Group</li>
	<li>28,000sqm of built space over 10 lower levels: 2,700sqm floor plates</li>
	<li>10 different tenants are already accommodated within the existing high rise office tower at 570 Bourke</li>
	<li>Lifestyle Centre catering for 300 cyclists/runners (dedicated entrance + shower &amp; change facilities)</li>
	<li>Curtain wall façade blends solid and translucent elements, bringing subtle diversity to the façade</li>
	<li>Bluestone paving, timber walls, travertine stone and light installation define the lobby</li>
	<li>New laneway: Gresham Street to be reconfigured + cafe and streetscape works</li>
	<li>500 car parking bays</li>
	<li>695sqm of retail space fronting Bourke and Little Bourke Streets</li>
	<li>175sqm of boutique office space on level one, fronting Little Bourke Street</li>
	<li>Target a 4.5 star NABERS Energy rating</li>
</ul>
In the perpetual race to attract tenants, commercial asset owners are increasingly providing the physical and technological needs of businesses while also enhancing the experience for their staff. Charter Hall have positioned 570 Bourke Street as a showcase for contemporary thinking and design within Melbourne's CBD.

Apartments.com.au will certainly be asking to tour the reborn Melbourne landmark upon completion.
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570 Bourke Street reborn

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249 Bourke Street.
1901 William Pitt.
Before the Tivoli Theatre was built, the site it stood on what was home to a business consisting of a timber yard and stables in the mid 19th Century.  In the 1860's the Australian and New York Letting and Livery Stables replaced the older business and interestingly the business also included a hall on the upper level.  During 1866 the hall was known as The Varieties and then later as the Opera Comique; the first Australian performance of the Can Can was staged in The Varieties hall.
In 1872 it became The Prince of Wales Opera House (or just The Opera House) and a syndicate calling themselves the Opera House Company presented a wide variety of popular entertainment, including the first Melbourne performance of The Pirates of Penzance and HMS Pinafore.
Some years later in 1894, the walls of the building were leaning and The Opera House was described as the most dangerous theatre in Melbourne.  The building which housed a capacity audience of 2127 people, was deemed a fire risk and a health hazard.
A year later an English singer and comedian named Harry Rickards took a three-year lease on the risky theatre.  On the 22nd of August 1896, the magician Carl Hertz projected the first motion pictures to be seen by the Australian public.  In 1897, the city council objected to the theatre still being used.  Harry, who still had 3 years left on his lease, asked for a delay in the closure and finally during 1899, a month after the lease expired, the city council closed the theatre.
The optimistic Harry Rickards then negotiated a new 50-year lease with the owners that included the condition that the old theatre be demolished and replaced with a new one.
The New Opera House was completed on the 18th of May 1901 and was designed in a Moorish style by William Pitt who had also designed the Princess Theatre on Spring Street.  It was made of red brick with marble columns and embellished with coloured tiles and ornate cast-iron work with the roof featuring a huge illuminated globe.
Inside two highly decorated corridors led from the street to the main foyer, which included a rockery with palms, ferns and a water feature while a marble stairways swept you up to the dress circle.  A three level auditorium, with its décor dominated by red and gold colours throughout, had a capacity of 1539, and the three tiers of seating created an intimate relationship between the performer(s) and the audience.  The Tivoli Theatre underwent renovations over the years and was rebuilt significantly in 1956.
In 1912, the New Opera House was renamed the Tivoli Theatre by Harry Rickards’ successor, Hugh D. McIntosh.  The Tivoli was the home of Melbourne vaudeville for 65 years until it closed on the 2nd of April 1966.  During its 65 years as a theatre it hosted stars like the escapologist Houdini, comedian W.C. Fields, illusionist Chung Ling Soo, entertainer George Formby, actor and singer Tommy Steele, singer Shirley Bassey and comedian Chico Marx amongst many others.
Lavish revues were introduced in the 1930's and became the Tivoli's standard fare, with pantomimes at Christmas and in the later years, the occasional musical. In the early 1950s the Folies Bergere Revue encouraged controversy about the amount of bare flesh on show for publicity.  In truth, what was on show was only a little more than a typical Tivoli show, but the audience ‘bought it’ and the revue ran for nearly fifteen consecutive months.  English actor and comedian Jimmy Edwards starred in the final live show in 1966.
A month after the closure of the theatre, the Tivoli Cinema opened, although round midnight on the 4th of April 1967, a fierce fire badly damaged the Tivoli.  What was left of the theatre/cinema was demolished and a new office building with the aptly named Tivoli Arcade on the ground level was built on the site, which is now home to the RMIT University's Business School.
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thecollector

The Titillating Tivoli Theatre

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As one office expansion at AMP Square (535 &amp; 555 Bourke St) nears completion, another directly opposite, is due to begin. EstimateOne recently listed four builders as vying for the construction rights to deliver a revamped 570 Bourke St; they being Brookfield Multiplex, Watpac, Built and Probuild Constructions. Known as Marland House, the tower was completed during 1972 and is currently owned by Charter Hall.
Standing at 121m with 31 levels of A-grade office space the Hassell-designed expansion consists of a new 12 level wing over the Bourke St forecourt, while also adding a dozen levels at the rear of the tower above the existing 645-bay Secure Parking facility facing Little Bourke St. According to project manager PDS Group, these new additions which are valued at approximately $70 million will employ the maximum site area while adding 15,620sqm of net lettable area to the complex.

<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_6.jpg" rel="gallery-all" title="570 Bourke St expansion. Image courtesy PDS Group."><img alt="570 Bourke St expansion. Image courtesy PDS Group." class="image-article-full-width-580px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image1_6.jpg?itok=vC9rbvMG" typeof="Image"></a>
<figcaption>570 Bourke St expansion. Image courtesy PDS Group.</figcaption></figure><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/Image3_3.jpg" rel="gallery-all" title="570 Bourke St expansion. Image courtesy PDS Group."><img alt="570 Bourke St expansion. Image courtesy PDS Group." class="image-article-full-width-580px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image3_3.jpg?itok=r_EFkrFV" title="Images of 570 Bourke St expansion" typeof="Image"></a>
<figcaption>570 Bourke St expansion. Image courtesy PDS Group.</figcaption></figure>555 Bourke St on the other hand is in the final stages of it's regeneration. Backed by owner Juilliard Group and designed by Metier 3 architects, its expansion seeks to completely overhaul the 1969 landmark building designed by US firm Skidmore, Owings and Merrill. After nearly two years builder Construction Engineering has essentially completed all works with a variety of extensions added to the original tower at 535 Bourke and the L-shaped St James building.
The $120 million expansion includes three additional levels atop St James, characterised by overhung floorplates, angled blades and a glass facade with etched L-shapes; taking inspiration from the shape of the building. Photos of the expanded 555 Bourke St are found below

<h2>Project details</h2>
Further details for 555 Bourke as per <a href="http://www.realcommercial.com.au/property-offices-vic-melbourne-500420731" target="_blank">realcommercial.com.au</a>:

<ul>
<li>Large Efficient Floor Plates</li>
	<li>Centrally Located to all public transport with Southern Cross station 400 metres away</li>
	<li>100% Full Fresh Air Distribution System with LTVAV (Low Temperature Variable Air Volume)</li>
	<li>Up to 14,000 sqm of Office Space available</li>
	<li>Excellent Natural Light</li>
	<li>Innovative &amp; Unique Design</li>
	<li>Abundant End Of Trip Facilities and tenant amenities including bike storage for 200 Bicycles and 20 customized shower facilities.</li>
	<li>4.5 star NABERS Energy Rating (Target)</li>
	<li>Meeting &amp; Conference facilities</li>
	<li>Substantial on-site retail and public space amenity</li>
</ul>
<h2>Comment</h2>

Although a moot point now, a case may have been made for retaining AMP Square as was, given its design by a world renowned architecture firm: Skidmore, Owings and Merrill. The age, character, appeal and interest associated with the complex may have let to AMP Square being considered as a place of local significance and a potential heritage listing. Everyone will have their own opinions on this matter. Regardless from my perspective the new AMP Tower, St James development is generally a good outcome.


While I may have misgivings regarding the etched facade applied to the St James extension, the general size and scope of the revamp is quite good. One of the key aspects of any aged building regeneration is increasing human interaction. Once up and running AMP Square will feature massively expanded retail offerings, active street frontages as opposed to blank walls and a covered internal area heavily weighted towards user amenity and retail purposes which in turn enhances social interaction. That is always a good result.
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