National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

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"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

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Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

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That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

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The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

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The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Commercial

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Mirvac Group has secured four residential development projects across Sydney, Melbourne and Brisbane totalling $144.2 million, on mostly delayed settlement terms.
“These acquisitions significantly restock our residential development pipeline and will provide long-term earnings benefits from FY16 onwards," Mirvac's managing director, Susan Lloyd-Hurwitz said.
"They sit within our directional mandate to acquire apartments in the inner ring and masterplanned communities in infill ring locations, and highlight our capacity to source and secure off-market opportunities in key locations."
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There was the purchase of an inner ring residential site in Waterloo, with the potential to deliver 250 residential apartments and 1,000 square metres of retail space. It is subject to FIRB approval.
Then inner ring residential site in Brisbane is located in south Brisbane with city and river views. The development has approved planning for a two staged apartment project of 329 lots across two towers, and will comprise one and two bedroom offerings. The project is expected to contribute to earnings from early 2017.
Settlement of the acquisition will occur in two stages, with stage one expected in mid-2014 and stage two expected in mid-2015.
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Mirvac has also purchased a property off Raby Road, Catherine Fields, 60 kilometres south-west of Sydney’s CBD within Sydney’s South West Growth Centre region. The 87 hectare site has the potential to deliver up to 600 lots. 
Altona North is the location of the Victorian acquisition. It is an 11.5 hectare infill site in Blackshaws Road, Altona North, with the potential to deliver 260 lots, subject to planning approvals.
Mirvac has appointed Brett Draffen to the newly created position of chief investment officer.
Brett Draffen had previously been the company’s chief executive development and group strategy.
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Mirvac grabs four off-market residential project sites with 1,400 dwelling potential

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Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
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<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
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In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
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Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
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Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

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The Green Building Council of Australia’s 6 Star Green Star rating has been awarded to Barangaroo South’s Tower 2 commercial building. The Office Design c3 certified rating identifies sustainable building practices.
The 42-storey Tower 2 is the largest building to receive this rating, and it is currently under construction.
New South Wales Environment Minister Rob Stokes said that supporting the sustainability in the commercial office sector is something the state government is behind.
“It is great to see sustainability made a priority in this project, reinforcing NSW as a leader in the area of environmental innovation,” said Stokes.
Tower 2 is one of three buildings that collectively create the International Towers Sydney, and it includes Westpac and Gilbert + Tobin as anchor tenants.
Lend Lease chief executive officer, property, Australia, Tarun Gupta, said that the internationally-recognised rating helps benefit corporate tenants, residents, retailers and visitors, with a sustainable view across the entirety of Barangaroo.
“Lend Lease's aim is to make the precinct Australia's first carbon neutral community,” said Gupta.
“Energy-efficient design, on and offsite low carbon and renewable energy teamed with zero carbon waste treatment and commuter carbon emission offsets, will result in a net carbon neutral outcome for the precinct's operational energy use.”
An on-site blackwater treatment plant, which has the capacity to supply a million litres of recycled water to the precinct and local suburbs, is an initiative of the precinct.
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Green star certification awarded to Barangaroo South Tower 2

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Car sharing club GoGet has partnered to provide up to 44 car share vehicles in the $2 billion Central Park complex on Broadway in Sydney.
The joint-venture developers, Frasers Property and Sekisui House, have sensed the global trend with the newest batch of inner city residents re-assessing the way they integrate personal vehicles and public transport into their lives.
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Vehicles, including hatchbacks, wagons, vans, utes, Yaris, Audis and 8-seater people movers will be available at <a href="https://www.centralparksydney.com" target="_blank">Central Park</a>.
Frasers Property Australia CEO Guy Pahor welcomed Australia’s largest GoGet SuperPod with cars available to the 1,000 plus residents, along with Chippendale locals.
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Frasers Property has been a longtime supporter of the carpooling initiative, having introduced a 10 car share pod at its Trio development in Camperdown in 2009.
“The considerable environmental benefits that the GoGet car share scheme brings, through less congestion on the roads and less car trips, contribute to the world-leading sustainability agenda of Central Park.”
He noted that buyers are driven by price points, with investors deciding sometimes that a car space does not add more to the value of the apartment.
“What drives the value of the apartments is the social and physical infrastructure within walking distance from Central Park.”
The cost of a car space in Central Park is about $75,000.
GoGet co-founder Bruce Jeffreys says <a href="https://www.goget.com.au/pod/1189/" target="_blank">the largest cluster of car share vehicles in Australia</a>, allowed motorists to select a car to fit their mood or errand.
When completed, Central Park, at Broadway, at the south of the city, will have 2,200 apartments and more than 5,000 residents.
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Not all apartments will have parking spaces, with around half currently having a space allocated to their unit.
“Increasing numbers of urban dwellers are living in the city without a car,” GoGet chief executive Tristan Sender said.
This reflected a drop in car ownership and an increase in car sharing among Sydney residents.
With enthusiasm from Clover Moore's town hall, the city saw around a 20% increase in car share spaces in the past year to 589 on-street parking spaces for car-sharing services, up from 489 spaces in April 2013. The City of Sydney aims to have 10% of all households using car sharing programs by 2016.
GoGet allows consumers to book a car by the hour, with costs ranging from around $6.35 to $9.90 an hour. The company has more than 1,300 vehicles in Australia with 1,110 of those in Sydney.
GoGet members pay a monthly fee, using the phone or internet to book and then a smartcard to unlock the vehicle.
GoGet was founded seven years ago and now has almost 50,000 members of which 36,000 are in NSW.
An wtart-up called Car Next Door, based at the Fishburners start-up hub in Ultimo, has emerged but does not own the cars in its network. It facilitates neighbourhood car sharing where car owners earn money by renting out their car to members on the network. The owners set a price per hour/day with Car Next Door taking a 25% stake.
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Go Get car share for Central Park inner city residents

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An 863 square metre development site in Melbourne’s Southbank residential precinct has seen strong interest. The 47 City Road precinct, being sold through CBRE City Sales, has seen interest around the $9 million mark.
It is bordered by St Kilda Road and Southbank Boulevard, and currently holds a single-level office building, 12 onsite car spaces and two street frontages on Fawkner Street and City Road, which provides a revenue stream while plans and permit are organised for future development.
CBRE’s Josh Rutman, Mark Wizel and Ed Wright are marketing it through an International Public Expressions of Interest campaign that is expecting to see strong offshore interest. The campaign goes until June 12.
It is located near Crown Casino Complex, the Yarra River, and Southbank Theatre.
"Developers, especially those from Asia, are recognising Southbank is serviced by world class infrastructure and amenity, and is viewed by overseas apartment buyers as being a terrific alternative to buying an apartment in the Melbourne CBD,” said Rutman.
Recently, Singapore’s Aspial Corporation purchased a land holding on the corner of City Road and Southbank Boulevard, Australia 108, for $42.3 million. A total of more than $180 million has reportedly been spent in the past six months on Southbank sites – with the majority from offshore purchasers.
Wright noted that offshore buyers are interested in two elements primarily. The first – how many apartments can be built on the site. The second – what they can get for these apartments.
High density Southbank apartments often go for high prices, he said.
“With the recent explosion of Asian investment into Melbourne’s property market, we expect this property will be of particular interest to offshore investors looking to undertake a landmark residential development in Australia’s most liveable city.”
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Melbourne development site expecting strong foreign interest

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Mortgage insurer Genworth is set to list tomorrow on the Australian stock exchange after strong local and international equity interest, the second biggest initial public offering for the year to date. There was a $2.65 per share institutional price.
Genworth plans to list with a market capitalisation of around $1.72 billion. It has a 45% share of the lenders’ mortgage insurance (LMI) market in Australia, in an oligopoly as Genworth and the other main player, QBE LMI, have a combined share of around 78%.
Goldman Sachs and CBA Equities, Macquarie and UBS launched a book build last week following the decision of the US parent to sell down a 34% stake in its Australian subsidiary.
Genworth will raise about $750 million from the float, which was delayed two years ago, following heavy losses in the local LMI arm.
LMI covers lenders when borrowers default on their home loans. LMI is typically required by banks as a result of pressure from the Australian Prudential Regulation Authority and their own boards for risk mitigation when a borrower has less than 20% of the purchase price as a deposit.
Mortgage insurance covers the lender – usually banks – with Genworth the largest Australian provider, with more than 60% of its business coming from loans written by CBA, Westpac Banking Corporation and National Australia Bank.
Genworth said it expected to post a net profit of US$231 million ($248 million) for the year to 31 December, up from US$179 million in 2013.
But CLSA analyst Jan van der Schalk told the AFR the company produces an 11% return on equity, which is a “desperately poor return for a feast or famine business”.
Goldman Sachs has estimated a property price correction of 10% would have a pre-tax impact of $870 million over a two to three year period.
A hard landing for property prices – a fall of 30% – would have a pre-tax impact of $2.2 billion over two to three years.
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Genworth mortgage insurer set for ASX debut

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A 1.925 hectare development site in Melbourne's Cairnlea has sold under the hammer for $6.41 million.
A prominent local developer was the buyer of the Brimbank Council development site, 93 Furlong Road.
Zoned Mixed Use, the property includes a 114.29 metre frontage to Furlong Road and 157.90 metre frontage to Cairnlea Drive.
Fitzroys agents James Gregson and David Bourke handled the campaign.
Mr Bourke said the site was originally earmarked for Brimbank Council offices, however this was subsequently shelved with Council deciding to develop the new Civic Centre in Sunshine central and subsequently the site became surplus to council requirements.
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Local developer pays $6.41 million for Cairnlea, Melbourne site

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A private speculator has purchased a development site in Meadowbank, in Sydney's west from McClintock Properties for $3.55 million.
The 115 Bowden Street development site has an area of about 1,075 square metres and is zoned mixed use. 
The selling agent, Knight Frank's Michael Wydeman, said: “The site is located approximately 15 kilometres west of Sydney, and walking distance to ferry, bus and train, the development site appealed to a market starved of mixed use sites in this size and price range.”
The co-selling agent was Michael Boom of Knight Frank. 
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Development site in Sydney's Meadowbank sold for $3.5 million

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Dual Olympian and Commonwealth Games gold medallist Jane Flemming is selling her mixed-use three-level freehold property in Sydney's Balmain. 
The 6 Montague St property is set to go under the hammer next month, with price expectations of $3 million plus.
Agents Miron Solomons &amp; Henry Burke of Colliers International have been appointed selling agents.
The property is described as a mixed-use three-level freehold property which "presents a range of owner occupier opportunities or alternative uses such as a multi-unit residential development, hostel or restaurant conversion."
Currently the ground and first floors offer a space suitable for commercial/office use with high ceilings and polished floor boards and given the heritage of the building would present an ideal opportunity for a creative office headquarters, said the agents.
The top floor provides separately accessed New York loft style residential accommodation with Harbour Bridge and City skyline views and on-site parking for four cars is included.
The property is being offered with vacant possession but has potential for multiple income streams with four separate tenancies. It goes to auction on 18 June.
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Jane Flemming's mixed-use Balmain property to go under the hammer

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A Redcliffe mixed-used redevelopment site, with DA approval, has been listed through Ray White Commercial Queensland, coming with 32 residential units and a ground floor retail or office space.
At 11-13 Anzac Avenue, Redcliffe, the 1,646 square metre site is asking for expressions of interest, explained Ray White Commercial Queensland director of sales and marketing, Peter Alexander.
“The site is strategically located directly opposite the new Bluewater Square Shopping Centre Complex which is anchored by a Woolworths in addition to several specialty retail outlets,” said Alexander.
<img src="/images/2014/05/14/redcliffe-may-14-three.jpg" alt="">
The site includes views to Moreton Island, and Alexander notes it is close to the Kippa-Ring Railway Station that looks to be completed in 2016.
Meanwhile, Ray White Special Projects Queensland associate director Matthew Fritzsche said that it is highly sought after in this area, considered an ‘up and comer’ in Queensland.
“The Redcliffe waterfront is a picturesque location overlooking Moreton Bay and the Pier is a drawcard for tourists,” he said of the area.
Expressions of Interest on the site must be made by 4pm May 21.
<img src="/images/2014/05/14/redcliffe-may-14-two.jpg" alt="">
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