<a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.

Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.

For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.

“I knew it was a good site as soon as I saw it,” Dabit said.

“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”

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That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.

Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.

Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.

At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.

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In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.

Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.

Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.

Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.

Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.

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Joel Robinson

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.

Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.

Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.

In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.

The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.

Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb

“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.

"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."

Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.

Its expanding portfolio of Metro-linked developments includes Tallawong Village, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.

Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.

Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.

"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.

"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."

The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.

“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.

"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."

Trump Hotel heads for the Gold Coast to become Australia's tallest building

More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.

For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.

Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.

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Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.

The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.

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Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.

For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.

Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.

[smartcode_project:default project_id=143415 project_image_fid=359842]

With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.

As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.

[smartcode_project_cta:default project_id=143415]

Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

When it comes to developing in Melb​ourne's Bayside region, <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> knows exactly what buyers want.

With a longstanding presence in the area and a string of sell-out projects, Lowe Living consistently delivers developments that are as sought-after as their predecessors.

Their latest instalment is in <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a><a href="https://www.apartments.com.au/developments/hampton-east-vic-3188">&nbsp;East,</a> the same postcode where they have previously delivered Hampton Hill and Oceano. The developer-builder recently commenced construction on its newest project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/marella-hampton-31-35-alicia-street-hampton-east-vic-3188">Marella</a>, a collection of 32 apartments just five minutes from the beach.

Site acquisition is paramount to success. Lowe Living rarely brings a building to market that isn’t within walking distance of essential amenities, whether it be the beach, a prominent retail strip, or a train station. Marella is no exception, located at its Alicia Street address, less than a kilometre from the retail heart of Hampton Street and Hampton Station.

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Equally important to Lowe Living is the architecture.

For Marella, they appointed <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, who explains that the architectural vision was to create a contemporary reinterpretation of the Californian bungalow, a style that’s iconic to Hampton’s heritage.

"By borrowing, abstracting, and reinterpreting elements of this quintessential style, such as strong datum lines, articulated columns, exposed structures, and roof tiles, our design strikes a balance between modernity and familiarity," says Cera Stribley.

"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."

[smartcode_project:default project_id=146197 project_image_fid=358499]

The building features terracotta brick, soft cream masonry, and exposed metal detailing, giving it a tactile presence that is intended to weather gently over time.

Internally, the focus on lasting quality continues, with two and three-bedroom residences anchored by sculptural stone kitchen islands, natural light, and clearly defined transitions between living, dining, and outdoor spaces.

The layouts have been carefully designed. Open-plan zones extend to private balconies, with light-filled interiors and generous kitchen proportions, supported by Miele wall ovens, induction cooktops, and integrated fridge-freezers. These are not small apartments rebranded as luxury; they have been designed at scale, with ample storage, hotel-style entry access, and secure basement parking provided as standard.

[smartcode_project:default project_id=146197 project_image_fid=358492]

At the uppermost level, Marella’s Signature Collection penthouses offer city or bay views, large entertaining terraces (some with outdoor spas), and elevated finishes, including fully wrapped stone kitchen benches and a Liebherr wine fridge.

Flexible room arrangements allow for a fourth bedroom or secondary living space, sought-after by both empty nesters who want the space when family visits and families with older children.

[smartcode_project:default project_id=146197 project_image_fid=358498]

A residents’ lounge on the ground floor reinforces the project’s small-community feel. With a fireplace, private dining area, and adjoining terrace, it’s one of several shared spaces that balance amenity with privacy and scale.

Construction has commenced, with completion expected in early 2027.

[smartcode_project_cta:default project_id=146197]

Lowe Living continues Bayside legacy as Marella rises in Hampton

Colliers

Buyers searching for greater space are increasingly looking to amalgamate adjoining apartments together as the pandemic continues to change the way people live.

While apartment demand in previous years was largely from investors, a jump in downsizers looking for larger spaces they can customise has seen a spate of amalgamated sales, according to Colliers Director of Residential and Project Sales Peter Kerras.

Kerras recently sold a one-bedroom and three-bedroom unit at NorthView Residences in St Leonards for $3.4 million. The one-bedroom unit on its own was difficult to sell due to the 48 sqm size. However, combined with the other larger unit, the 170 sqm total property was an attractive prospect for downsizers from Greenwich.

[smartcode_project:default project_id=22410 project_image_fid=196584]

On top of this, an Australian expat paid $3.635 million for an amalgamated one-bedroom and three- bedroom apartment at Bond in Bondi Junction.

&ldquo;Due to the absence of offshore foreign buyers, downsizers are now in the box seat to customise apartments and developers are happy to work with them,&rdquo; Kerras said.

&ldquo;The exponential increase in house prices across Sydney means they generally have more money to spend and the impact of covid has seen the demand for larger apartments skyrocket.&rdquo;

[smartcode_project:default project_id=94354 project_image_fid=170430]

&ldquo;Developers have to lodge plans a few years before going to market, meaning they are very dependent on what is in demand at the time. With offshore buyers extremely active in the market for smaller apartments in premium locations, plans were initially made to suit this,&rdquo; he added.

The emergence of the pandemic in 2019 changed this, as these buyers have taken a backseat, with downsizers and ex-pats far more active. As a result, plans are often too small for many current buyers and developers are adopting a more flexible approach to make sales.

Other similar sales have occurred at 111 Castlereagh in the CBD, The Heysen in Turramurra, Woolooware Bay and at East Side Quarter in Penrith, often resulting in record prices.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Designed by award-winning architects fjmtstudio, 111 Castlereagh is the residential component of the $1 billion mixed-use development by Cbus Property.

&ldquo;Cbus Property is witnessing prospective purchasers&rsquo; growing appetite to customise and amalgamate our residences to meet their ever-changing needs,&quot;&nbsp;Cbus Property&rsquo;s Chief Executive Officer, Adrian Pozzo, said.&nbsp;

&quot;This has already been on our radar for some time &ndash; with the four residences in the soon-to-be-released Skyhome Collection at 111 Castlereagh in Sydney and a number of whole-floor residences at 17 Spring St in Melbourne, we have amalgamated several residences to suit purchasers&rsquo; needs in the past two years,&rdquo;&nbsp;

[smartcode_project_cta: project_id=94354]

Downsizers looking for a spacious home are often paying record prices for amalgamated apartments across Sydney.

alisonwarters@gmail.com

Amalgamated apartment sales boom as cashed-up buyers search for more space

As Brisbane&rsquo;s median house price skyrockets, the gap to the median apartment price widens, but it&rsquo;s set to be short-lived with Colliers research showing the apartment market tipped is for a dramatic price increase.

Brisbane&rsquo;s median house price increased by 10.7 per cent to $890,000 in the March quarter, according to research by Colliers.

The gap between the median house price and the median apartment price is at 49 per cent, the greatest differential Brisbane has seen in two decades.

However, Colliers Director Residential Queensland Andrew Roubicek believes the city is in for a significant price increase in the apartment market as we move into the second half of 2022, with compounding pressures on the construction sector forcing developers of new stock to lift prices.

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&ldquo;Working closely with developers, builders and architects as part of the project marketing arm of Colliers, and selling more than 5,000 apartments annually, we have seen first-hand the impact of labour and material shortages,&rdquo; Roubicek said.

&ldquo;Costs are rising by up to 30 per cent, and recent floods and COVID-induced issues are intensifying the problem and causing significant delays on construction timeframes.&rdquo;

The impact of cost increases as a result of compounding environmental factors has had a dramatic impact on the construction sector, with several builders entering voluntary administration of falling into receivership.

However, Roubicek said the impacts of the cost increases and external pressures had a far wider reaching implications than the construction sector alone.

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&ldquo;There have been several examples of new developments achieving presale requirements of around 80 per cent, only to have developers refund deposits and tear up contracts because building costs have escalated to a point that the development is financially unviable,&rdquo; he said.

&ldquo;It&rsquo;s left homebuyers utterly upset and disgruntled, particularly in what has become such a competitive market.

&ldquo;As a consequence, developers who are looking to acquire new development sites are forced to increase their projected sale prices by around 20 per cent in their feasibilities. Just 18 months ago a two-bedroom apartment in Brisbane might have sold off the plan for $9,000 per square metre.

&ldquo;But, to build that apartment today the developer would need to achieve a sale price of $11,000 per square metre for the project to stack up. That&rsquo;s a 20 per cent price increase passed directly onto buyers,&rdquo; he added.

[smartcode_project:default project_id=25721 project_image_fid=157090]

Roubicek said the economic impact of interest rate increases would further impact on housing affordability, forcing buyers back into the apartment market.

&ldquo;Buyers may see better value in the established apartment market in the short-term, as opposed to buying new off the plan. However, this will be a short-lived alternative as supply dries up and investors stake advantage of rental vacancy rates.

&ldquo;We expect surge in demand from investors as the rental vacancy rates continue to fall to less than one per cent and rental yields approach five per cent. This increase in demand will have a significant impact on the second hand apartment pushing up prices reflecting the price of a new apartment.&rdquo;

The gap between the median house price and the median apartment price is a staggering 49 per cent, the greatest differential Brisbane has seen in two decades.



Why Brisbane apartments are set to see significant price growth: Colliers International Australia

The demand for luxury apartments in the Sydney CBD has never been stronger in a trend that is driving increased sales in the $10 million-plus bracket.

Despite extended lockdowns impacting the CBD over the past two years, Colliers National Director of Project Marketing Residential, Blake Schulze, said he had witnessed the strongest demand ever experienced over the past six months, with this high level expected to continue into 2022.

&ldquo;It&rsquo;s a trend that strengthened at a time when a lot of attention was being focussed away from the CBD towards trophy homes and regional activity,&rdquo; Schulze said.

&ldquo;It really affirms how parts of the Sydney CBD have successfully evolved into a high quality and desirable world-class apartment market.&rdquo;

The demand for high-end apartments has been clearly demonstrated across a range of new projects including 111 Castlereagh Street, One Sydney Harbour, Crown Residences Barangaroo and the Sirius Building.

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Stand out transactions include all of the available penthouses (sold off-the-plan) at 111 Castlereagh Street, as well as the penthouse collection consisting of The Jones, The MacKellar and The Cambridge Residences, which have sold for a combined total of $66 million.

&ldquo;Sales are running ahead of any familiar or traditional trends, with demand concentrated out of Sydney&rsquo;s East and North Shore, and not necessarily driven by down-sizers.&rdquo; Schulze added.

&ldquo;This pattern also further distinguishes Sydney&rsquo;s CBD apartment market as distinct from trends we see in Melbourne and Brisbane.

&ldquo;Current high-end buyers often own multiple homes and are those who have &lsquo;fallen in love&rsquo; with a new generation of projects, attracted by the appeal of Sydney&rsquo;s CBD. Values clearly indicate that it&rsquo;s smart to be back in the city, and price is not an issue.&rdquo;

However, Schulze says apartment size, design, quality of finishes, location, and lifestyle, must&nbsp;all be spot-on.

Amenities generally expected include a pool, equipped gym, resort level resident&rsquo;s lounge, dining room and gardens, private climate-controlled cellar, and concierge.

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Strong high-end demand has also extended to the lower north-shore and select re-sales in the CBD.

These include the soon-to-be completed 440sqm $14 million &ldquo;Grand Luna&rdquo; apartment in The Landmark, St Leonards, which is one the most expensive outside of the Sydney CBD.

A 223sqm $11 million listing at the Greenland Centre and a new listing of an &ldquo;Aqualuna&rdquo; Milsons Point penthouse, consisting of 275sqm internally and 50sqm externally, are both also going to market in early 2022.

[smartcode_project:default project_id=8832 project_image_fid=192889]

&ldquo;High-end-luxury demand is being locally driven, but all elements, including car parking must be available. Buyers understand quality, even to the point where they will, and do commit to a multi- million dollar purchase often only after a video tour. This means the quality must be instantly authenticated.&rdquo;

While the current level of demand for apartments in the $10 million-plus bracket is unprecedented, it remains to be seen what impact the full re-opening of international borders will have.

According to Colliers, there are reasonable expectations for even stronger demand as other high-end developments continue to boost Sydney&rsquo;s appeal.

The demand for high-end apartments has been clearly demonstrated across a range of new projects including 111 Castlereagh Street, One Sydney Harbour, Crown Residences Barangaroo and the Sirius Building

Demand for luxury Sydney CBD apartments has never been stronger

Sydney-based developer Iris Capital saw strong sales results across their projects last year, with new Broadbeach development Victoria &amp; Albert outperforming 2020 results.

V&amp;A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast.

Designed for the coastal environment, V&amp;A will comprise a mix of one, two and three-bedroom apartments on the lower levels, while the upper residences will offer a mix of three-bedroom apartments, with both towers topped by sub‐penthouses and penthouses.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/yUXurXUgRSY" title="YouTube video player" width="560"></iframe>

David Higgins of Colliers International Gold Coast said the development is an exciting breakthrough for Broadbeach, thanks to the complexity of lifestyle and amenity on offer.

&ldquo;It is a pretty exciting milestone for the Gold Coast and, more especially, for Broadbeach because Broadbeach is really one of the most heavily developed lifestyle precincts&rdquo;, he said.

[smartcode_project:default project_id=107928 project_image_fid=184936]

&ldquo;The walkability of this location in the centre of Broadbeach, you can&#39;t replace.&rdquo;

Straddling both streets and the mall, the site ties Victoria Avenue and Albert Avenue together, whilst bringing the history of Broadbeach into the project with its name.

The largest tower to the west is Victoria, the &ldquo;crowning glory&rdquo;, while the smaller tower to the east is Albert.

[smartcode_project:default project_id=107928 project_image_fid=184935]

The two towers, designed by DBI Architects over a subtropical recreational podium, will home over 400 apartments, two levels of premium offices and commercial facilities and fresh food and dining retail on the street level.

The project boasts over 5,500sqm of dining, retail and A-grade commercial, adding to the strong hospitality offerings already available within the suburb.

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&ldquo;When we put a new arcade, new retail and dining, fresh food with some A-grade commercial, [V&amp;A] will be a very unique, new entrant into the Gold Coast lifestyle market&rdquo;, said Higgins.

In the six months to June 2021, the development team saw apartment sales 20 per cent ahead of the result for the entire year of 2020.

&ldquo;We expect next year to be as good, if not better&rdquo;, Higgins added.

[smartcode_project:default project_id=107928 project_image_fid=184933]

Iris Capital&rsquo;s decision to transform Newcastle and head north to Queensland was a very strong move, based upon the knowledge of the Gold Coast of Iris Capital chief executive, Sam Arnaout.

&ldquo;He saw the trends and he liked what he saw in Southeast Queensland&rdquo;, Higgins said in his interview with MediaHunt.

&ldquo;Obviously, last year [Queensland] had the best interstate migration [they] have had for 13 years, over 30,000 people, and we expect the next year to be better again.&rdquo;

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V&A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast

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Iris Capital see strong demand in Broadbeach at V&A following their move into the Queensland market

Colliers Residential Managing Director Peter Chittenden says the quality of apartments year on year is continuing to improve to satisfy consumer demand.

And a big move by developers has been the high-end design in the CBD, which has seen&nbsp;locals drive sales in premium central apartment projects.

They&#39;ve seen big demand for 111 Castlereagh Street, the residential apartment tower atop the former David Jones department store, despite the high price tag.

The cheapest units are one-bedrooms start at about $3 million, while four bedroom units start from $13.5 million.

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Urban recently caught up with Chittenden&nbsp;to discuss the trends emerging in the apartment market.

JC: How have you viewed the performance of the apartment market (established and or off the plan) in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023? 
&nbsp; 
PC: The market across both 2020 and 2021 have been impacted by Covid-19. However, 2021 surely experienced a more significant Covid-19 &lsquo;interruption&rsquo; in terms of inspections but in saying that the quality of enquiry was almost unprecedented when it related to sales volumes. 
&nbsp; 
In 2021, the best performers in terms of developments and sales agents, were those who took to a more inquisitive approach when qualifying buyers, ensuring a deeper product and market knowledge, utilising new and innovative technology and having a wiliness to completely change the sales path and interactions all the way through to exchange.&nbsp; 
&nbsp; 
We also saw the gap widen between houses and apartments through to off the plan, more than in the last decade, which has resulted in new geographic markets, opening up for other product types such as apartments.

[smartcode_project:default project_id=94354 project_image_fid=170427] 
&nbsp; 
Looking ahead to 2022 &amp; 2023, for apartments year on year the quality improves to satisfy consumer demand, desire and expectations of the greater market pool of buyers. In 2022 and beyond we expect to see more designs and sales of the super-premium apartments in prime CBD, beachside locations. 
&nbsp; 
The acceptance of technology as a non-contact means to undertake a detailed inspection will improve even more, as more people adapt, therefore giving us greater range of potential purchasers both across Australia and overseas. We will also see CBDs across the country and neighbouring regional areas continue to grow due to lifestyle choices and desires. 
&nbsp; 
Some of the negatives will be a reduction in the amount of developers in the market place, putting pressure on stock as well as the cost of construction increasing every 90 days due to lack of labour and supply materials. 
&nbsp; 
JC: What trend (short term or long term) has prompted your greatest enthusiasm for the apartment market, and what is the issue of most concern to you and or your clients? 
&nbsp; 
PC: The trend of the super-premium coming back into the CBD purchased and supported by local buyers (super-premium defined as apartment at 45,000 a meter and above). 
&nbsp; 
Another trend is that Sydney city will change in ways and at a speed we have never seen before. We predict the physical engagement with retail will go back to be a more important part of people&rsquo;s lifestyle and day to day activities.

[smartcode_project:default project_id=94354 project_image_fid=170432] 
&nbsp; 
Offices will be occupied by different users and will become a more activated 7 day a week living and working environment due to a more considerate and understanding authorities to encourage people to return to this city. 
&nbsp; 
JC: Has urbanisation stalled amid the rush to the regions or what will it look like over the decade ahead? 
&nbsp; 
PC: In short, no. There is an undersupply of housing apartment stock throughout our capital cities. This is a fact - due to the volume of sales across 2020 and 2021 in particular, and what we expect moving forward. 
&nbsp; 
The rush to regions is simply the dream coming true, that has been embedded in our thinking for quite some time, that you can have flexible work hours and still be productive. Being forced to work from home has taught us all about new and acceptable ways to work, train, inspire and live our lives. 
&nbsp; 
In 10 years&rsquo; time, we see the greater Sydney catchment for jobs and residential will include extended areas up to Newcastle and Wollongong, giving people greater choice of living and working environments. With this growth, there will no longer be the stigma &ldquo;brain drain&rdquo; that may have once been associated with living in a more regional area.

[smartcode_project:default project_id=94354 project_image_fid=170426] 
&nbsp; 
JC: How important do you view the push for sustainability practices in the apartment market, and what initiative has seized your interest or focus?&nbsp; 
&nbsp; 
PC: Being environmentally conscious is important everywhere and all the time - that should be the first consideration.

Increasing numbers of people are enquiring about more sustainable living options when considering their next purchaser, however whilst they want it &ndash; they still want to make sure it is cost-effective.

It is something developers always discuss, however it also needs to be delivered in a cost-effective way for them. In saying that, in the future, we do believe this will be led by government authorities and should be something that is considered where possible in all developments.

A big move by developers has been the high-end design in the CBD, which has seen locals drive sales in premium central apartment projects.



jchancellor-FAypfDUnLy

Locals drive super-premium CBD apartment sales: Five minutes with Colliers Residential managing director Peter Chittenden

The view from residential developers&nbsp;is that the apartment market in the Sydney CBD is more on trend and in demand than it has been in a number of years.

Adrian Pozzo, the chief executive at CBUS Property,&nbsp;says the&nbsp;CBD is set to evolve post the pandemic disruptions, with the nature of the developments being constructed and in planning dominated by mixed-use towers.

&quot;The mixed-use nature of the city has seen distinct precincts evolve, each with their own cluster of businesses and cultural, educational and entertainment precincts,&quot; Pozzo says.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

Developers have taken to the small pocket around Hyde Park, almost between St James and Museum Station.

There&#39;s a number of projects currently under construction, and a solid pipeline on the desks of the City of Sydney council.

The first project to be completed will be Castle Residences, the mixed-use hotel and apartment tower at 203 Castlereagh Street which is slated for completion in December.

[smartcode_project:default project_id=7758 project_image_fid=79424]

The first Australian project by Shanghai United, Castle Residences have been built above the heritage Porter House, which is being retained as a luxury lobby entry.

There are 131 apartments and around 122 hotel rooms, with the hotel to be operated by AccorHotels.&nbsp;Residents at Castle Residences will get all of the perks of being a hotel guest, such as a the 24 hour concierge, room service, housekeeping and even valet parking.

[smartcode_project:default project_id=7758 project_image_fid=150450]

Up the street and currently under construction is Cbus Property&#39;s&nbsp;111 Castlereagh Street, set to be a landmark in the CBD for years to come.

The striking tower, designed by fjmt studio and built atop the former&nbsp;David Jones&nbsp;department store which was originally built in 1938,&nbsp;has 101 apartments, most with views over Hyde Park.&nbsp;

Part of the development will see the David Jones component converted in to 11,500 sqm of office space, as well as a 6,200 sqm extension of Westfield.

[smartcode_project:default project_id=94354 project_image_fid=170431]

Colliers Residential Managing Director Peter Chittenden, who has been handling the sales at 111 Castlereagh Street,&nbsp;says the apartments have been designed with ample space and connection to the outdoors, which are now top priorities for Australians.

&quot;There has been strong buyer interest very much around the quality of the development and construction team, the iconic architectural building and the central CBD location&rsquo;s liveability with shopping and dining along with the expansive views spanning across Hyde Park and beyond to Sydney harbour,&quot; Chittenden says.

&quot;The prominent buyer demographic has been local Sydneysiders from the Eastern Suburbs and Lower North Shore, looking for a primary residence along with interest from regional NSW where buyers are looking for a city base&nbsp;for when they are visiting and doing business in Sydney.&quot;

Apartment residents will have access to a rooftop with a pool, gym and gardens. Construction is underway, with completion expected in Q3 2023.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Across the road from 111 Castlereagh Street is set to be another impressive mixed-use development.

Last year the alternative asset manager Fife Capital, led by Allan Fife, submitted plans for a 17-level tower to&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

The development of two lots,&nbsp;114-120 Castlereagh Street and 139 Elizabeth Street, will see just 26 apartments built, only starting from level 10, with the rest of the building being commercial. There will be&nbsp;a mix of one, two and three-bedroom units and a two-level, four-bedroom penthouse on levels 15 and 16.

<img alt="" height="789" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_main_1200.jpg" width="1200" />

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens.

A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

And the most recent lodgement comes from Central Element, who are seeking to build a $100 million tower on the fringe of Hyde Park where the 16-storey Hyde Park Inn hotel currently sits.

<img alt="" height="373" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/central_elementh_hyde_park.png" width="662" />

It&#39;s another amalgamation of sites on Castlereagh Street and Elizabeth Street, the latter which runs parallel to Hyde Park.

They&#39;ll be amalgamated&nbsp;two lots at 262-266 Castlereagh Street and 271-279 Elizabeth Street, planning for three retail tenancies on the upper and lower ground floors, with 53 apartments above.

The subject sites are currently occupied by a vacant four-storey commercial building as well as the&nbsp;16-storey Hyde Park Inn hotel.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

What Sydney's Castlereagh Street will look like in five years

Cbus Property have reported the sale of three luxury apartments worth $66 million in the 111 Castlereagh St development.

The buyers came from the eastern suburbs and lower north shore.

The biggest sale was a 460sq m double-storey penthouse that fetched about $35 million.

It is called the Jones Residence,&nbsp;named after Sir Charles Lloyd Jones who led the success of the David Jones expansion on which the property sits.

The residence boasts 360‑degree views across the city and towards the Blue Mountains, capturing Hyde Park, Sydney Harbour, the Eastern Suburbs and beyond.

[smartcode_project:default project_id=94354 project_image_fid=170432]

The two smaller sub penthouses in the 101-unit project sold for about $15.5 million each.

The sales marked "a resurgence in the return of Sydney city living and the ongoing appetite for high-end, primely located residential property, despite the challenges of the current COVID-19 climate,” Cbus Property CEO Adrian Pozzo said.

Selling agent Colliers Residential managing director Peter Chittenden said the four-bedroom penthouse occupies part of level 33 and the entire 34th level and includes two kitchens, living areas, a wine cellar and a butler’s pantry.

Cbus has two four-bedroom sky homes and a selection of expansive one, two and three-bedroom residences still for sale in the project set to be finished by the end of 2023.

[smartcode_project_cta: project_id=94354]

Three luxury apartments have been sold off-the-plan in the 111 Castlereagh St development

$35 million penthouse sale secured in 111 Castlereagh by Cbus

The Melbourne off the plan prestige market is continuing to see heightened demand.

Two whole-floor apartments in&nbsp;Cbus Property&#39;s exclusive 17 Spring Street residential tower&nbsp;have just sold&nbsp;for a combined total of $25 million, within two weeks of each other.

The Garden Residence, spanning the whole of level 10 with a private 280 sqm plus terrace with landscaping by Paul Bangay, sold even before its marketing campaign.

Following The Garden Residence sale, another whole-floor apartment on the 31st level sold. There&#39;s now just one whole-floor apartment remaining in the whole 73 apartment building.

Adrian Pozzo, chief executive of Cbus Property,&nbsp;said the sales showed that overwhelming confidence in the market remained for well-placed product, despite the challenges generated by the COVID-19 pandemic throughout the past 18 months.

[smartcode_project:default project_id=8666 project_image_fid=77387]

&ldquo;Cbus Property continues to experience strong owner-occupier demand for premium residences in prime locations and our purchasers see immense value in buying at the top end of Melbourne&rsquo;s CBD,&rdquo; Pozzo said.

The $300 million 17 Spring St, architecturally designed by Bates Smart at the end of Spring Street, is set to be built on the 1,270 sqm site that was formally&nbsp;occupied by the Mercure Melbourne Treasury Gardens.

It comprises 73 two- and three-bedroom, and half- and whole-floor residences, each with views overlooking the Treasury and Fitzroy Gardens.

Construction is anticipated for completion in late 2022.

[smartcode_project:default project_id=8666 project_image_fid=77388]

It&#39;s Cbus Property&#39;s second success on Spring Street, having sold out their 35 Spring Street well before its 2017 completion.

Colliers International&nbsp;brokered the whole-floor sales, with their director of residential Brett Griffith&nbsp;saying that despite the challenges brought about by COVID-19 throughout the past 18 months, they cannot keep up with the demand from buyers seeking premium residences in Melbourne CBD&rsquo;s premier streets, such as Spring Street.

&ldquo;Quality apartments from quality developers are extraordinarily resilient in all markets; they very rarely shift or drop in price,&rdquo; Griffith said.

Adrian Pozzo, chief executive of Cbus Property, said the sales showed that overwhelming confidence in the market remained for well-placed product

Melbourne's prestige off the plan apartment market booms with $25 million sales at Cbus Property's 17 Spring Street

Brisbane is seeing continued growth in its apartment market, but&nbsp;Colliers Director of Residential Andrew Scriven says there&#39;s not been the same strength in the capital&nbsp;yet compared to the booming Gold Coast market just an hour south.

&quot;It&#39;s a more solid market in Brisbane at the moment, with good sales to owner-occupiers,&quot; Scriven says, and suggests for Brisbane to grow, they need investors to come back.

&quot;There&#39;s a bigger pool of people throughout the rest of Australia,&quot; Scriven said, highlighting the four million residents in SEQ and 21 million or so across the rest of the country. That&nbsp;investor pool is ultimately the most important&quot;.

Interstate investors are starting to come back in to the market, but only slowly, Scriven says.

&quot;The yields in Brisbane are&nbsp;still the highest out of all three states [Sydney, Melbourne and Brisbane], with some of the lowest vacancy rates in the country. Prices are half that of Sydney, and 30 per cent less than Melbourne.&quot;

Scriven noted that there&#39;s been a high price differential over the last year&nbsp;between established and off the plan apartments, which is offering further opportunity for value.

&quot;Over the last 12 months, the established apartment median&nbsp;has risen may be 10 per cent,&quot; Scriven says.

&quot;New apartments haven&rsquo;t risen at all over that time. There&#39;s a bit of a price differential which is starting to look like an opportunity for investors.&quot;

With limited action from interstate investors, sales have picked up to owner-occupiers, no more evident than at&nbsp;The Fernery, the mixed-use project in Ferny Grove in Brisbane&#39;s north.

[smartcode_project:default project_id=100681 project_image_fid=162778]

&quot;There&#39;s been overwhelming success since launch in April&nbsp;from the local market, looking to either downsize, invest or secure something for the children. Most of them have come from a couple of kilometre radius.&quot;

&quot;Locals have really embraced the project. They&nbsp;haven&rsquo;t really had that offering ever.&quot;

The bureau^proberts-designed project, developed&nbsp;by the Townsville-based Honeycombes&nbsp;in partnership with their financier MaxCap, will comprise the 82 apartment block The Fernery, as well as&nbsp;a 12,000 sqm retail centre set next to the Ferny Grove train station.

Prices start from $352,500 for the one bedroom apartments, $399,000 for the two bed units and $620,000 for the three bedrooms.

Scriven says the mixed-use retail precincts is what buyers want in this day and age.

&quot;They&#39;ve got the butcher, the baker, the candlestick maker, all at their doorstep,&quot; Scriven says.

[smartcode_project:default project_id=100681 project_image_fid=162784]

&quot;It&#39;s away&nbsp;from that investment grade apartment development to more quality schemes. Good architecture and good place&nbsp;to live that will increase in value.&quot;

On the level of finishes and designs of the apartment development, Scriven suggests what The Fernery is offering is&nbsp;what you would typically find in the more premium apartment&nbsp;market areas such as Newstead and New Farm.

Construction is due to commence of the residential and retail components in the coming months, with Broad Construction appointed to handle the build. Completion is slated for late 2023.

Scriven suggests that construction dates, completion dates and builder appointments are&nbsp;what people want to hear when it comes to buying off the plan developments, particularly mixed-use precincts.

&quot;They want to know timelines and when they are being delivered.&quot;

[smartcode_project:default project_id=100681 project_image_fid=162783]

There&#39;s been a bit of expat interest&nbsp;across Brisbane, but that&#39;s primarily been focused on the housing market.

&quot;What we have seen is expats have come back, particularly Australian&nbsp;citizens in Sydney and Melbourne.&nbsp;There&#39;s been around 440,000&nbsp;Australian&#39;s come back from overseas over the 12 moths to Feb or March. All those people are living someone, or they&#39;ve bought.

&quot;A lot of expats have a lot of wealth and have been leaning&nbsp;towards the housing market in SEQ which has been well documented&quot;.

There was a bit of expat interest in the boutique St Lucia riverfront, 160 Macquarie Street.

[smartcode_project:default project_id=25721 project_image_fid=157087]

Now over 70 per cent sold, 160 Macquarie is&nbsp;St Lucia&#39;s first riverfront apartment development in more than a decade.

The development by&nbsp;QM Properties, led by horse enthusiast and managing director&nbsp;Jon Haseler, has been designed by the architecture firm&nbsp;Rothelowman&nbsp;and only homes 34 riverfront apartments.

Scriven suggested that as a city and potential place of residence,&nbsp;Brisbane has come out of the COVID pandemic as well as any other capital.

&quot;If&nbsp;you don&#39;t need to be in the office, there&#39;s worse places you can be than Brisbane,&quot; Scriven says.

&quot;We didn&#39;t have a lock down as long as anyone else and that has certainly been an attraction to the city. People can work a little bit longer from home, a bit more mobile. There&#39;s regionalisation or mobility in the work force.&quot;

Locals snap up apartments in The Fernery, but Brisbane needs investors to grow: Five minutes with Colliers director Andrew Scriven

The Brisbane-based developer Ention Properties has quietly secured sales of nearly half of its luxury Taringa apartment development Déesse.

Three of the eight apartments&nbsp;were sold at its launch, including the penthouse that sits on the top level of the five level building at 79 Swann Road.

Crowning the development is a wet edge pool, lounge deck, barbecue and outdoor dining area and lawn.

<a href="/buildings/deesse-taringa-79-swann-road-taringa"><img alt="" data-entity-type="" data-entity-uuid="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/deesse_2.jpg" width="1600" /></a>

The three and four bedroom apartments have been designed by local architects Hayes Anderson Lynch&nbsp;to take advantage of the views north east to Brisbane City, with views to the Border Ranges to the rear. Each apartments features natural tones and textures such as timber floor, high quality stone and refined joinery, signature stylings of Ention.

The large floor plans is set to attract&nbsp;downsizers and owner-occupiers, with living space ranging from 184 sqm to 266 sqm.

The remaining five apartments include the expansive courtyard residences and the north-east city facing sub-penthouse.

<a href="/buildings/deesse-taringa-79-swann-road-taringa"><img alt="" data-entity-type="" data-entity-uuid="" height="890" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/deesse_3.jpg" width="1800" /></a>

Construction is expected to commence in the next couple of months, with the site being cleared and former home on the 810 sqm block demolished.

Ention Properties director Trent Thoroughgood says working with&nbsp;Hayes Anderson Lynch and&nbsp;Déesse's the project marketing team at&nbsp;Colliers International allowed them to take all of the feedback that they collectively received from customers and put that knowledge into the design of the apartments.

"Our vision has been to design a truly boutique building that will sit proudly amongst some of Brisbane’s most elite homes, and ticks all of the boxes for a discerning owner occupier."

The three and four&nbsp;bedroom residences are&nbsp;priced from $1.53 million.

[smartcode_project:default project_id=8200]

About the developer

Ention Properties was founded by Trent Thoroughgood and Dion Smith in 2013 with a view to&nbsp;“create&nbsp;lifestyles above all others”

Ention have recently completed Ciel Residences, a boutique block of nine in Brisbane's Herstmon, as well as the nearby Ciel Terraces, both of which are sold out and have settled.

&nbsp;

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Crowning the development is a wet edge pool, lounge deck, barbecue and outdoor dining area and lawn

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