The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

Camberwell

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Sydney’s "cult" chicken and burger eatery Chargrill Charlie’s has chosen Camberwell for its Melbourne debut.
Fitzroys' agent Chris James negotiated the long-term 10-year lease for <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502644570" target="_blank">10 Prospect Hill Road</a> (pictured above) at $228,000 per annum net.
The building has a 365 sqm ground floor area and sizeable 58 metres of frontage, positioned near Woolworths, Target and Aldi.
Chargrill Charlie’s has operated for nearly 30 years and has 10 locations across Sydney including Woollahra, Mosman and Rose Bay.
James said the long-term lease secured for the prime Camberwell retail space shows the confidence in the area’s revitalisation held by experienced and established operators, spurred by a strong residential development pipeline.
“This large, flexible space, located close to Woolworths supermarket and with frontage to the Market Place car park, attracted strong enquiry from a range of operators, particularly from the hospitality industry,” he said.
James said there has been growing enquiry in the inner-east as developments such as Camberwell Village, Hawthorn Park and others nearby come online.
He also recently negotiated the lease of <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502538406" target="_blank">670 Burke Road</a>, just metres away on the corner of Burke Road and Prospect Hill Road, to optometry group EyeQ.
Similarly, the lease was a long-term deal at 7+5+5 years for the 87 sqm ground floor space, at $85,000 per annum net.
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j.ballantyne1990-6AQqhLzZaK

Chargrill Charlie’s to open in Melbourne

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A substantial Camberwell site has been sold for the first time in over half a century.
Colliers International in conjunction with Woodards secured the sale of 7-9 High Road (pictured above) for over $17million.
The property was purchased by Melegant Group through a "hotly contested" public tender campaign.
Melegant Group is managing more than 35 projects totalling more than $250million, across mostly eastern Melbourne. 
Its recent purchases included a development supersite in Malvern East for around $15 million last year, at 1-9 Sylvester Crescent. It is directed by Eddie Zu and David Xu.
“2018 has seen the market starved of high calibre development sites,” Burgess said.
“The result, and competition we received, at 7-9 High Road is a reflection of this and shows the market’s desire for premium develoment opportunities in Melbourne’s high end suburbs."
“Occupying a sought after position of over an acre near the corner of Toorak and Burke Roads, this was an unmatched, generational opportunity to secure an incredibly rare land holding in Melbourne’s premier inner-east."
Comprised of three titles and with frontage to High Road of more than 40m, the holding is 4,433sqm.
The site is currently home to a period Californian bungalow converted into three one-bedroom apartments, as well as four blocks of two-bedroom apartments making a total of eighteen apartments.
Melegant Group recently struck a three-year lease over 280sq m of office space on Level 3, 990 Whitehorse Road, Box Hill, the former ATO building which will cost the company a net annual rent of $98,250.
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High Street, Camberwell development site sells to Melegant Group after 50 years ownership

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Camberwell's popular T2 premises has sold for just over $6 million.
It was a private sale between local investors, negotiated by Savills Australia.
The 275sqm primary-grade retail investment asset at <a href="https://www.commercialrealestate.com.au/property/596-burke-road-camberwell-vic-3124-2013810937" target="_blank">596 Burke Road</a> transacted for $6.008 million, reflecting a yield of 5.11 per cent.  
T2 shares the premises with gift and home décor store, Montebello Emporium.
Savills Australia’s Nick Peden, Jesse Radisich and Benson Zhou brokered the deal, achieving a strong land rate of $22,007 per sqm.
Peden said investment opportunities in the metropolitan markets of Camberwell and Hawthorn had been hotly contested this year.
“This is the latest in a string of sales we’ve concluded in the area,” Mr Peden said.
“In 2017 alone, Savills has sold seven prime properties, ranging in value from $5.5million to $15million.”
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jrobinson-rf4aSBido9

T2's Camberwell shopfront changes hands

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The Camberwell home of Susan Kolenda, a designer with Design Room Company, and her husband, Joe, the director of 1300SPAREBOX, now comes with a $3.45 million asking price.
It is a bit-like Schulberg Demkiw-designed home.
<a href="https://www.realestate.com.au/property-house-vic-camberwell-126597462" target="_blank">The contemporary four-bedroom, three-bathroom </a>home on Gowar Avenue has large living spaces positioned around a central terrace. There is a rear garden with a heated pool.
Its high-end kitchen comes with a butler’s pantry.
There’s also an office with space for four work stations.
It was scheduled for late October auction with $3.2 million to $3.48 million price guidance.
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Box-like Camberwell home yet to sell

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A fully leased retail building within the Burke Road retail precinct in Melbourne’s Camberwell has recently sold for $6,008,000 through Savills.
The property at <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502520510" target="_blank">596 Burke Road</a> has been completely refurbished.
It has two retail shops totalling 275 sqm on one title.
It is leased to T2, a wholly owned subsidiary of Unilever Ltd, and Montebello Emporium.
The property has a landholding of 273 sqm with two street frontages.
It earns a current net rental of $307,087 per annum. The yield is estimated at around 5.1 percent.
The selling agents were Nick Peden, Jesse Radisich and Benson Zhou of Savills.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/18/SavillsBurke2.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Camberwell retail property sells for $6 million through Savills

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Peak Equities has purchased a  five-level, 5,420sqm office building in Camberwell Junction for $27.5 million.
The site of the Australian Pharmaceutical Industries (API) headquarters, <a href="https://www.realcommercial.com.au/property-offices-vic-camberwell-502378602" target="_blank">250 Camberwell Road</a>, generates $2 million per annum in net passing income from API and ground-floor café operator Camberwell Food Group, with leasehold interest from Melbourne Anglican Trust Corporation, resulting in a passing yield of 7.5 percent.
Colliers International’s Peter Bremner, Rob Joyes and Rachael Clohesy sold the property on behalf of Sydney-based investor and syndicator Bricktop Group through expressions of interest.
Mr Bremner said the long ground lease to Melbourne Anglican Trust Corporation expires on September 30, 2075.
“The purchaser recognised the quality of the asset in the prime Camberwell location and was seeking a higher-yielding investment so, while acknowledging the leasehold structure, they will enjoy an attractive 7.5 per cent yield based on the six-year WALE,” he said.
“If the property was sold with a freehold title, it would most likely have resulted in a sub-six per cent yield.
Peak Equities managing director Tom Borsky said the location of the property, in a tight office market where demand was expected to grow far more quickly than supply, was the principal driver of the purchase.
“Furthermore, our company sees the ground lease structure as an opportunity, rather than an encumbrance,” he said.
“Following global trends, this form of property ownership is likely to become more commonplace.”
 
Bricktop Group purchased 250 Camberwell Road through Colliers International in 2013.
Bricktop’s managing director Michael Balkin saying now was a suitable time for the syndicate to realise its investment.
 “We identified the inherent value in the leasehold interest when we acquired the property, something that we believed many parties did not understand at the time of the original sale,” he said.
“Accordingly, we were able to secure the purchase at an attractive price for our investors.”
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Peak Equities buys API’s Camberwell headquarters for $27.5 million

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Melbourne’s eastern suburb of Camberwell is witnessing a flurry of commercial transactions.
A commercial building on Toorak Road leased to National Australia Bank has been snapped up before auction for $3.48 million, while a mixed-use investment property on Camberwell Road has changed hands for $960,000.
The <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502478002" target="_blank">1397 Toorak Road</a> property is a double-fronted brick building of 551 sqm on a 446 sqm site.
The Commercial-1 zoned property sold with a four-year lease to NAB with two further two- year terms, with a current passing income of around $141,000 per annum plus all outgoings and GST, reflecting a circa 4% yield.
The selling agents were Chris Kombi and Chris James of Fitzroys.
The sale comes just weeks after a Bendigo Bank site at 4 Prospect Hill Road in Camberwell sold for $7.03 million under the hammer on a 4.2% yield.
Kombi said the Toorak Road property’s tenancy profile and strong position were key drivers of demand, as well as the increased level of residential development in the wider area that has underpinned significant improvement in retail activity along this section of Toorak Road.
“This strip centre is a boutique commercial hub which incorporates major trading banks, an IGA Supermarket, Australia Post, various eateries and local traders and is further supported with the excellent car parking facilities directly behind the subject property,” he said.
Meanwhile, the building at <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502492894" target="_blank">627 Camberwell Road</a> was sold post-auction to a local owner-occupier by Brett Diston of Ray White Commercial.
It was passed in at auction, but the highest bidder bought it later, Diston said.
The gross yield for the 135 sqm building was 4.65 per cent.
It last changed hands in 2015 for $738,000, according to CoreLogic RP Data.
The property comprises a freehold ground floor office and a five-bedroom/two-bathroom residence on the upper level.”
The lower floor is leased to an accountancy firm and the property was returning net rental of $44,640 per annum.
“When fully let this property, which is on a land area of approximately 157 sqm, can return net rental of $51,920 per annum,” he said.
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Camberwell NAB nabbed before auction

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A development site with permit for residential units in Camberwell has sold for $2.3 million through Savills as demand for apartments in Melbourne’s leafy inner east rises.
The <a href="https://www.realestate.com.au/sold/property-residential+land-vic-camberwell-201773630" target="_blank">584 Camberwell Road</a> site was listed for auction on May auction, but the deal was struck in April.
The site was bought by an offshore buyer at a record rate per unit of $383,000, according to Savills.
This, along with another sale at Armadale, totalled a record $9.3 million for land and unit prices.
The corner site has a landholding of 577 sqm and comes with an approved permit for a luxury apartment project with oversized apartments.
The majority of apartments, once constructed, will enjoy views of the picturesque Fordham Gardens. 
The location is close to shops, schools and public transport. 
The selling agents were Nick Peden, Jesse Radisich and Benson Zhou of Savills.
“Demand for apartment development sites in Melbourne has been very strong over the last few years and it remains so and particularly for boutique developments in suburbs in the coveted inner east,” said Peden.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/25/Camberwell2.jpg" alt="">
The Urban Planning Committee had earlier reviewed the proposal for a three-story building comprising six apartments, car parking and some alterations at Camberwell.
The Boroondara City Council’s urban designer had concluded that the building would not impact the neighbourhood character or nearby residential properties.
This permit would expire if development does not start within two years of the issue date and if construction isn’t complete in four years from the date of issue.
Among the other recent land sales in Camberwell is one at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-camberwell-201621962?cid=pdp:recent-sales" target="_blank">4 Garden Road</a>.
The 1040 sqm land parcel changed hands for $2,305,000 late in 2016. It was touted as ideal for development subject to approvals. The zoning was General Residential 1.
Another was a land parcel at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-camberwell-201651042?cid=pdp:recent-sales" target="_blank">23 Derby Street</a>, which fetched $4.6 million. The 1,363 sqm site is close to Riversdale station, shops and restaurants.
Peden said apartment demand was being driven by population growth, the recent trend to downsizing and remaining in the same suburb, lifestyle and by location.
March figures from the ABS put Melbourne’s population growth at 2.4 percent in 2016 – the fastest in the nation - (Brisbane grew 1.8 percent and Greater Sydney 1.7 percent) while four of the five fastest growing suburbs in Australia were in Victoria.
Camberwell has a current townhouse offering, The Davis. Conceived by Ascui &amp; Co Architects, the four homes on Davis Avenue are priced through Marshall White <a href="https://thedavis.com.au" target="_blank">from $2.215 million</a>.
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Camberwell site with permit for luxury apartments sells for $2.3 million: Savills

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A four bedroom 1907 Queen Anne Federation house at Camberwell has been sold for $5.02 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-camberwell-125286186" target="_blank">28 Kintore Street</a>, Croydon is positioned in the highly-prized Tara Estate close to Junction shopping.
It last sold in 1994 for $650,000.
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The century-old charmer has been brought into the 21st century with a recent renovation that keeps its period beauty intact on almost 900q m.
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/21/28%20Kintore%20Street-2.jpg" alt="">
The property was offered through Jellis Craig agents Alastair Craig and Mark Josem who had a price guide of $4.5 to $5 million.
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Federation Camberwell house sold for $5.02 million

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There was competitive bidding at a mortgagee auction in Camberwell of a residential development site.
Nine would-be buyers fought for two partially-built townhouses at <a href="https://www.domain.com.au/23-acheron-avenue-camberwell-vic-3124-2013430639" target="_blank">23 Acheron Avenue</a>.
They pushed the sale price more than $750,000 over reserve.
The 975-square-metre block with existing plans and potential to redevelop sold for $3,451,000.
The buyers will also have to pay GST because of the nature of the sale.
Auctioneer Bernard Corser, of Corser Property, declared it on the market at $2.7 million.
Jellis Craig’s Mark Pezzin, who sold the property in conjunction with Corser Property, said the strong result came as here was a lack of quality stock.
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