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]

Joel Robinson

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Docklands

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The past fortnight has brought a number of high profile approvals which have been placed firmly in the public eye, but what of the lesser known planning applications that have been given or are poised to receive the green?

85-93 Lorimer Street, 1 Warde Street and Avant at 54-64 A'Beckett street have all had their time in the sun owing to their sizeable nature, with the three projects combining to add as many as 1,780 apartments to the Melbourne skyline. Avant in particular is set to make a striking addition to the northern end of the CBD due to it's reddish-pink exterior, carrying an expected $500 million development tag along the way.

There has also been a wave of other approvals of late, all of which will add to the city's development pipeline. In a variety of locations, some of the more notable developments to gain approval include:

<h2>3 Shiel Street, North Melbourne</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1018_3-5_shielst_tp_-_3d_view_-_view_01_-_shiel_st.jpg" rel="gallery-all" title="3 Shiel street has been given the green light. Image courtesy SPEC Property"><img alt="" class="image-article-full-width-580px" height="321" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1018_3-5_shielst_tp_-_3d_view_-_view_01_-_shiel_st.jpg?itok=YJ6c1Xfe" title="3 Shiel street has been given the green light. Image courtesy SPEC Property" width="580"></a>

<figcaption>3 Shiel street has been given the green light. Image courtesy SPEC Property</figcaption></figure>SPEC Property have secured a permit for a project dubbed The Shiel Apartments at 3 Shiel Street, North Melbourne. Melbourne City Council saw fit to provide a permit for the 65-apartment project earlier this month.

The Shiel Street development is notable in that it along with a handful of other projects sited on Shiel Street and the adjoining Haines Street represent the vanguard push of residential developers into the Arden-Macaulay Precinct; a large tract of North Melbourne and Kensington slated to become a high density residential zone.

<h2>20-22 Queens Road and 74 Eastern Road</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image34_3.jpg" rel="gallery-all" title="Queens Road and Eastern Road"><img alt="" class="image-article-full-width-580px" height="295" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image34_3.jpg?itok=19_PZJCm" title="Queens Road and Eastern Road" width="580"></a>

<figcaption>Queens Road and Eastern Road</figcaption></figure>VCAT have ruled on both these projects which fell under the jurisdiction of Port Phillip City Council. Respective developers JD Group and GURNER are now free to pursue their approved schemes as they see fit.

20-22 Queens Road is the larger of the two developments at 17 levels, consuming a 4,598 sqm site and holding 269 dwellings. Both projects are at the foot of Albert Park, with 20-22 Queens Road set to enjoy unencumbered views.

<h2>6-10 Keele Street, Collingwood</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image296.jpg" rel="gallery-all" title="SJB's Keele Street design"><img alt="" class="image-article-full-width-580px" height="330" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image296.jpg?itok=eHEkmgkP" title="SJB's Keele Street design" width="580"></a>

<figcaption>SJB's Keele Street design</figcaption></figure>Keele Street comes into focus as the latest project for local developer Pirovich. Submitted during late 2014, the SJB-designed project has gained approval according to Yarra City Council. With a determination dated June 25th, the 55-apartment project over a 930sqm block has a nominal value of $12 million and looks set to join the multitude of apartments projects within postcode 3066.

<h2>Incoming</h2>

Two high-profile projects are also set to gain approval in the not-too-distant future. A planning officer's report set to be tabled before Monash City Council on July 28th recommends the approval of The Glen redevelopment at 227 Springvale Road. Initially submitted with 515 apartments over three buildings, a variety of conditions have been suggested, chief of which is the reduction of the 'Signature Tower' from 86 metres to 63.7 metres in height.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/about-header-2.jpg" rel="gallery-all" title="Artist's impression of the revamped Royal Womens Hospital"><img alt="" class="image-article-full-width-580px" height="329" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/about-header-2.jpg?itok=bJA6Ih-7" title="Artist's impression of the revamped Royal Womens Hospital" width="580"></a>

<figcaption>Artist's impression of the Royal Women's Hospital first stage</figcaption></figure>July 28th also looms as the date where <a href="http://www.carltonconnect.com.au/">Carlton Connect</a> will formally be adopted by Melbourne City Council. The project involves rezoning the former Royal Women’s Hospital to allow for a comprehensive redevelopment yielding three buildings which are expected to accommodate Australia’s premier innovation precinct.

Melbourne University will anchor the redevelopment which will seek to deepen the application of knowledge throughout the Australian economy according to the project's website.
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silvermb

Poised and primed: key developments gain approval

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Urban.com.au was recently invited on a tour of Array, the seventh of Mirvac's Yarra’s Edge towers, which features dual multi-level East and West penthouses. The visit included a walkthrough of the $8 million 425m2 East Penthouse, comprising four bedrooms, four bathrooms, a butler’s kitchen, a private lift and a double height living and entertaining area which opens out onto a terrace offering impressive views of Melbourne’s skyline.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2691.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2691.jpg?itok=W_B8hw_d" width="580"></a>

<figcaption>How's the view?</figcaption></figure>The East Penthouse includes over $400,000 worth of high end imported furnishings, bespoke artworks, as well as hand-sketched wallpaper, cushions and bed linen by renowned fashion illustrator Megan Hess, who is best known for sketching the Sex and the City book covers.

<blockquote>
We have had customers purchase multiple apartments to create their own apartments, with expansive spaces and extra bedrooms. We’ve even had some customers buy an entire floor to turn into a city abode for their family.

Array offers a new level of quality, finish and customisation that is further enhanced by our partnership with Megan Hess. The special touch Megan has put on this landmark property is sure to turn the heads of buyers who want a trophy home.
<cite>John Carfi, Mirvac Group Executive Residential</cite>
</blockquote>

Having worked for some of the world’s premier brands and designers, including Chanel, Dior and Vanity Fair, Hess’ design style has been implemented to transform the East Penthouse into an exclusive luxury home. With a brief to create an elegant, contemporary and chic penthouse with international appeal, Hess has curated the East Penthouse’s interior furnishings, sourcing bespoke items from around the globe and even creating her own pieces when necessary.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2696.jpg" rel="gallery-all" title="Array East Penthouse Interior"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2696.jpg?itok=KGa7HZUR" title="Array East Penthouse Interior" width="580"></a>

<figcaption>Array East Penthouse Interior</figcaption></figure>Adorning the expansive spaces are ottomans and accessories by Versace, couches by Fendi, and a Roberto Cavalli leather, snakeskin look coffee table. Hess has even specially designed a marble dining table with a gold leaf base for the penthouse, her first foray into furniture design. Jonathan Adler and Coco Republic pieces complement the high fashion furnishings, creating a warm and lavish space.

<blockquote>
I am incredibly proud of the result and thankful to be given such a blank canvas by Mirvac and the trust and free rein to create a high fashion home overlooking the Melbourne CBD.
<cite>Megan Hess</cite>
</blockquote>

The complete interior package is valued at over $400,000, giving the East Penthouse’s lucky purchaser the opportunity to move into the world’s first Megan Hess interior designed penthouse, should they choose to purchase the furniture with the penthouse.

According to John Carfi the remainder of the building was finished to a standard that would rival many penthouses in the city, with the Hess touch raising the bar for the entire project.

The 39-storey tower has been designed by the Mirvac team, headed up by Mirvac’s Design Director Julian Venning, to capture the movement of the surrounding river. A rooftop sculpture crowns the building, creating a strong architectural statement when peering down the Flinders Street axis of the city as it pairs up with Tower V, forming the King and Queen of Yarra's Edge.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2676.jpg" rel="gallery-all" title="Array amongst other Yarra's Edge towers"><img alt="" class="image-article-full-width-580px" height="870" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2676.jpg?itok=62ghMoQL" title="Array amongst other Yarra's Edge towers" width="580"></a>

<figcaption>Array amongst other Yarra's Edge towers</figcaption></figure>Leading past the adjacent marina that fronts the building and a 250m2 retail space, residents and guests enter through a lavish lobby featuring a striking backlit onyx wall and twinkling overhead star lights.

Combining luxury and efficiency residents can be mindfully aware of their carbon footprint with interactive screens on the ground floor providing updates on the building’s energy consumption throughout the day and night, while green switches allow residents to turn all of their appliances off at once as they leave their home.

<blockquote>
Our customers have told us they care about these efficiency features as much as design. There is a real desire in the market to be able to live mindfully and be aware of one’s impact on the globe.
<cite>Julian Venning, Mirvac Design Director</cite>
</blockquote>

Rounding off the amenities are an onsite gym and lounge area, complemented by fully serviced marina berths with individually metered power, water facilities and the convenience of a full-time on-site marine manager and 24 hour security.

More than 90 per cent of the $219 million development has been sold, with the first residents moving in during April.

Please enjoy the photo slideshow below taken on a sunny Melbourne winter's day.
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Laurence Dragomir

A tour of Mirvac's Array at Yarra's Edge

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Berth, the prominent waterfront restaurant space in Docklands has been snapped up.
It was bought by a local Asian investor in a sale and leaseback deal negotiated by Colliers International. 
Colliers agents Guy Wells, Daniel Wolman and Oliver Hay negotiated the sale at a sub-7% yield. 
Situated on the southern side of Newquay Promenade, the 515sqm building is constructed over the waterfront within the Newquay precinct of Docklands.
The property was constructed on Crown land and is subject to a long term Crown Lease to 2101 having commenced November 2002. 
It was offered with a secure, long term lease to Berth that has been in operation for more than 10 years in Docklands, with a further 10 year lease plus options.
Development in the Docklands region began circa 2000 and since that time almost $9 billion worth of development has occurred.
This includes more than $2.4 billion worth of private development in 2011-12 which occurred across 16 projects totalling 350,000sqm of gross floor area, including about 1,500 residential apartments.
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jchancellor-FAypfDUnLy

Berth, the Melbourne Docklands restaurant space sold

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When the first images of <a href="/news/889-collins-street-next-for-lend-leases-victoria-harbour">889 Collins Street surfaced</a>, eagle-eyed readers would have noticed a second identical set of towers in the background. Having initially brushed it off as artistic license to populate a render I was surprised to learn that the development would in fact consist of four overall towers or two sets of twin towers along the north bank of Victoria Harbour.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/site_plan.jpg" rel="gallery-all" title="Aerial of sites within Victoria Harbour. © City of Melbourne"><img alt="" class="image-article-full-width-580px" height="305" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/site_plan.jpg?itok=CQi8pj0P" title="Aerial of sites within Victoria Harbour. © City of Melbourne" width="580"></a>

<figcaption>Aerial of sites within Victoria Harbour. © City of Melbourne</figcaption></figure>Designed by Sydney-based architect Koichi Takada, the project has gained support in the last week via City of Melbourne's Future (Planning) Committee; the final remaining hurdle is now approval from the Planning Minister's office prior to Y4 &amp; Y5/Y6 (seen in the above graphic) officially commencing.

The southern set of towers will be 75.9 metres in height while the northern pair will reach 93.6 metres, with their respective podia rising to heights of 19.5m. The pairing of towers will be such that each podium will accommodate one 30-storey and one 24-storey tower. This variance in height is intended to give the Docklands skyline a more dramatic silhouette than if the towers were to have been paired by common height.

<blockquote>
The elevations are well designed and articulated. All elevations of the towers and podia feature glazing of various types, balconies and timber or masonry finishes to balconies at podium levels, which will serve to create a visually interesting facade. Plant and lift motor rooms are fully screened.

The towers will be worthy additions to the Docklands skyline.
<cite>City Of Melbourne Future Committee Report</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image.jpg8_zps9xhsay7e.jpg" rel="gallery-all" title="Tower elevations highlighting height variance and facade articulation. © Koichi Takada Architects"><img alt="" class="image-article-full-width-580px" height="366" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image.jpg8_zps9xhsay7e.jpg?itok=bPbakezl" title="Tower elevations highlighting height variance and facade articulation. © Koichi Takada Architects" width="580"></a>

<figcaption>Height variance and facade articulation. Image © Koichi Takada Architects</figcaption></figure>All four towers have the same articulation and a consistent material palette whereby the main elevations respond to city context and river context which is expressed and reflected in the choice of materials. The spandrel bands which wrap around the podium levels employ a rich textured palette of brick and timber drawing references to the site's maritime history (which has been lacking in Docklands so far) and presents somewhat of a departure from the typical materials which adorn some of the other apartment buildings.

The tower sections feature bands of fritted glazing of various levels of opacity and colour, which create a distinct rippled patternation across the facades while also providing the impression of a horizontal movement. This in turn creates a kinetic quality, reinforced by the various reflections of water, city and sky throughout the day.

Likened to "the strong, billowing effect" of sails in the wind, the fritted bands vary from the reddish tone of the brick to the silver tone of the weathered timber.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/facade_elevation.jpg" rel="gallery-all" title="Detail elevation of podium materiality and texture elevations highlighting height variance and facade articulation. © Koichi Takada Architects"><img alt="" class="image-article-full-width-580px" height="227" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/facade_elevation.jpg?itok=TrGyiYhi" title="Detail elevation of podium materiality and texture elevations highlighting height variance and facade articulation. © Koichi Takada Architects" width="580"></a>

<figcaption>Podium materiality and texture. Image © Koichi Takada Architects</figcaption></figure>Interestingly site Y4 originally carried approval for a 9-storey office development designed by Bates Smart with 875 Collins Street as its address. Similarly it is expected that the DCM-designed office tower at 839 Collins Street will be replaced by a $250 million hotel and apartment development for which Lend Lease have put to the market via an open bidding process.

This follows Lend Lease's unsuccessful attempts to secure tenants for both commercial projects before proceeding with construction. This change in strategy has largely been attributed to the strong demand for apartments both from local and overseas purchasers.

Stage One, known more formally as <a href="http://www.889collins.com.au/">889 Collins Street</a>, is due to commence construction this month pending final approval with a completion date of June 2017 forecast.

<h2>Project briefs</h2>

<ul>
<li>Project value: $600 million</li>
	<li>Four towers: 1,070 apartments</li>
	<li>Stage One: 1 x 30-storey + 1 x 24-storey, 539 apartments - 208 x 1BR, 295 x 2BR. 28 x 3BR</li>
	<li>Stage Two: 1 x 30-storey + 1 x 24-storey, 531 apartments - 218 x 1BR. 293 x 2BR. 28 x 3BR</li>
	<li>Car parking 748 spaces over 6 levels across both podiums</li>
	<li>371 bicycle spaces</li>
	<li>SOHO wrap of apartments to podiums to activate facades</li>
	<li>Landscaped rooftop to podiums</li>
	<li>1499sqm of commercial retail</li>
</ul>
<h2>Project team</h2>

<ul>
<li>Developer: Lend Lease</li>
	<li>Architect: Koichi Takada Architects</li>
	<li>Planning Consultant: Contour Consulting</li>
	<li>Waste Management: Leigh Design</li>
	<li>Wind Consultant: MEL Consultants</li>
</ul>
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A Sister Act: 839-899 Collins Street, Victoria Harbour

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Hassell Studio in conjunction with Places Victoria and City of Melbourne have devised a master plan for what many observers would consider the 'missing tooth' of Docklands. Harbour Esplanade was in years gone by expected to be an urban showcase for the area, but has stuttered and stumbled to the point where it is now akin to a patchwork of attempts to enhance the central waterfront area.

With wheels set in motion during 2014, the Harbour Esplanade Master Plan Report was put before Council for consideration during late March.

<blockquote>
The ambition of this master plan is to establish a vision of great aspiration; a vision conceived unmistakably for, and about this place, Melbourne’s primary urban waterfront. A vision that is underpinned by a number of clearly articulated and achievable design principles which will guide the realisation of a very special public place for all Melburnian’s.

A place for us to engage with our somehow yet undiscovered and wonderful harbour, place for us to invite the world to visit and be entertained. The role of the master plan is to define a clear physical structure or ‘zoning plan’ for the Harbour Esplanade waterfront promenade, that will facilitate a staged delivery of the precinct over time.
<cite>Harbour Esplanade Master Plan Report</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image92_0.jpg" rel="gallery-all" title="A hotchpotch Harbour Esplanade to date. Image courtesy Hassell / Places Victoria"><img alt="" class="image-article-full-width-580px" height="496" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image92_0.jpg?itok=FAjjrDG_" title="A hotchpotch Harbour Esplanade to date. Image courtesy Hassell / Places Victoria" width="580"></a>

<figcaption>A hotchpotch Harbour Esplanade to date. Image courtesy Hassell / Places Victoria</figcaption></figure>Key to the master plan is a set of urban design principles conceived to ensure that future works are consistent with the overall intent of the site as defined by the vested parties. The seven principles are:

<ul>
<li>Embrace the water</li>
	<li>Provide a diverse range of experiences</li>
	<li>Integrate public spaces within the built form</li>
	<li>Take a restorative design approach</li>
	<li>Make it unique, reinforce its heritage character</li>
	<li>Re-prioritise pedestrian movement at key</li>
	<li>Program the space for day and night activation</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image93_0.jpg" rel="gallery-all" title="The area subject to the master plan. Image courtesy Hassell"><img alt="" class="image-article-full-width-580px" height="336" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image93_0.jpg?itok=4jxMFDqF" title="The area subject to the master plan. Image courtesy Hassell" width="580"></a>

<figcaption>The area subject to the master plan. Image courtesy Hassell</figcaption></figure>Expected within the redevelopment is the construction of a continuous wharf edge to Victoria Harbour which would see the delivery of four new decks and increased landscaping and pedestrian accessibility to both the harbour edge and adjacent the Capital City Trail. Split into north and south basins, as divided by the historic goods sheds, there is scope within the proposed master plan to allow buildings ranging between 1-3 levels atop parts of Harbour Esplanade.

Slated as a staged redevelopment by Places Victoria, the Master Plan is designed to reflect the "Scale and complexity" of the site, while providing clarity for issues such as "Location, form and design intent of any future buildings and public realm spaces within the site."

<h2>Comment</h2>

Unfortunately there's no great imagery within the Master Plan to provide any indication as to what can be expected. Factoring in the decade it's taken to arrive at this point, and granted all but the very few are on the outside looking in, it seems to be a painfully slow process to deliver Docklands with a viable urban showpiece.

Truthfully parallels can be drawn with the St Kilda Triangle flop.

Nonetheless a Master Plan is coming. What better way to provide Docklands with something truly unique then to open the Harbour Esplanade redevelopment to a design competition. Federation Square and Flinders Street Station provided excellent outcomes, Harbour Esplanade should be afforded an equally as impressive outcome.

The Master Plan documents can be viewed at <a href="http://www.melbourne.vic.gov.au/BuildingandPlanning/Planning/Pages/Planningregisteronlinesearchresults.aspx?appid=224797">City of Melbourne's website</a>.

Lead image courtesy The University of Melbourne.
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Places Victoria moves ahead with Harbour Esplanade 

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Earmarked from the outset as a stand-out design, MAB Corporation's 429-437 Docklands Drive is poised to receive planning approval from City of Melbourne. Surfacing during 2013 as a <a href="/news/the-quays-to-success">crescent-shaped hotel</a>, MAB Corporation has elected to proceed with a purely residential tower on a sizeable development plot which was formerly part of Waterfront City.

The McBride Charles Ryan-designed residential tower is set to be joined by an expansive public park as was first mooted during MAB Corporation's purchase of the land some years ago. While discussions between Places Victoria, City of Melbourne and the development team predated the November 2014 planning application submission, a recommendation of approval included within a report will be assessed by the Future Melbourne (Planning) Committee who sit this evening.

<h2>429-437 Docklands Drive, Docklands application summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image29.jpg" rel="gallery-all" title="The porposed eastern elevation. Image courtesy MCR"><img alt="" class="image-article-full-width-580px" height="390" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image29.jpg?itok=R_8QrW5y" title="The porposed eastern elevation. Image courtesy MCR" width="580"></a>

<figcaption>The porposed eastern elevation. Image courtesy MCR</figcaption></figure><ul>
<li>Lot C Newquay Promenade: 8,549sqm site</li>
	<li>17 level residential building at 68.8 metres in height</li>
	<li>118 apartments: 1/2/3/4 bedroom options</li>
	<li>Provision for 63 car parking and 42 bicycle spaces</li>
	<li>Additional car spaces and bicycle bays also located within adjoining 'Promenade' development</li>
	<li>Urban park atop basement car parking</li>
	<li>GFA: 15,187sqm</li>
	<li>​Rooftop amenities</li>
	<li>Cafe spaces at ground level</li>
</ul>
The development will hold a mixture of living options, seemingly with a slant toward the higher-end purchaser. 26 one bedroom apartments are included, as are 68 two bedroom and 19 three bedroom apartments. Somewhat unusually three four bedroom apartments are designed into the higher levels of the building while two four bedroom apartments will occupy the highest habitable floor; each approximately holding 335sqm of internal area.

<blockquote>
Building C is envisaged as an iconic building within a prominent location of New Quay Central. The built form of the proposed building has been the subject of much discussion and the current form is considered to be one of high design integrity that will make a positive contribution to the precinct.

The building is proposed to be in an egg shaped form which is different to the rectangular form shown in the development plan. This form has resulted in a reduction in width and an increase in the overall height to maintain a gross floor area consistent with that anticipated in the DP. Although the height has increased the slender, narrower footprint allows for wider view cones in and around the proposed tower, including to Victoria Harbour.
<cite>Report to the Future Melbourne (Planning) Committee</cite>
</blockquote>

Above the ground level colonnade, 429-437 Docklands Drive's exterior will be draped in a 'lattice work' finish consisting of white aluminium panels arranged to provide an elliptical pattern over the tower. The remainder of the exterior will consist primarily of black aluminium finishes coupled with grey tinted glass.

<h2>Central Park</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image28_0.jpg" rel="gallery-all" title="Expected view from Central Park. Image courtesy MCR"><img alt="" class="image-article-full-width-580px" height="397" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image28_0.jpg?itok=xYcN9pH6" title="Expected view from Central Park. Image courtesy MCR" width="580"></a>

<figcaption>Expected view from Central Park. Image courtesy MCR</figcaption></figure>Encompassing a greater area than just the tower's footprint, 429-437 Docklands Drive will see an elongated basement/services level under what will become yet another park for Docklands. Dubbed 'Central Park' and covering approximately 2,000sqm, the majority of the park will be accounted for by open lawn.

In addition to expected art installations, the park will include rain gardens, native plant species plus feature garden beds. Subject to further design, 'Central Park' would be delivered in conjunction with the tower component.

<blockquote>
The Urban Park has been designed in a manner that will provide an inviting, highly adaptable area of public open space that will be able to be utilised for community events while also providing smaller spaces that can accommodate community events such as markets and art exhibitions. The park will achieve the objective of providing a focal point for New Quay Central that is pedestrian in scale.
<cite>Report to the Future Melbourne (Planning) Committee</cite>
</blockquote>

With construction commenced on the adjoining Promenade and Aqui residential towers, 429-437 Docklands Drive and <a href="/buildings/elm-stone-387-docklands-drive-docklands">387-395 Docklands </a><a href="/buildings/elm-stone-387-docklands-drive-docklands">Drive</a> shape as MAB Corporation's next residential releases within their NewQuay precinct. To date eight residential towers have been completed by MAB Corporation since construction of NewQuay's initial buildings began in the early 2000s.
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MAB Corporation's Lot C edging closer to reality

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Apartments.com.au recently sat down for a chat with <a href="http://www.lucasre.com.au/">Lucas Real Estate</a> Managing Director Glen Lucas along with Director of Property Management and recent recipient of the Property Manager of the Year award, Dylan Emmett. On the agenda was the current state of the Docklands and its progress during the 15 years Lucas Real Estate has been active in the precinct. With an office located on Docklands Drive, it has provided Glen and the Lucas Real Estate team with first hand experience of the Docklands dynamic and its continued growth.

Recent criticism of the area, they say is unfounded and what Docklands really needs is time to develop, a continued influx of residents, some more quality food and beverage offerings and a waterfront drawcard that is unique to the area.

Apartments.com.au: Is it fair to say that you have had a heavy focus on Docklands? How did you come to be involved in the area?

Glen Lucas: I was in Docklands from 2000. I worked for MAB Corp for about 3 years and helped to set up Metro Real Estate which was their early real estate business, and then I began Lucas Real Estate. I had a property which one of the project developers wanted me to sell for him, which I did, but I didn’t realise so many owners down here were trying to lease their apartment out and they were sort of stuck with the developer and their real estate arm because there was no independent at that time. I was having people throw keys to me saying “Glen can you rent this out… can you sell this for me?”.

Very quickly my little business started to take off and a year or so later Mirvac approached me to buy their rent roll. Ultimately we bought their sales centre down at Yarra’s Edge and I guess that was my first retail real estate position location. In 2006 the market really began to rumble along and there were three of us that went there first, within a year there were about 10 of us and so on. I started ringing up Andrew Buxton asking “Andy when are you going to sell Metro Real Estate?” and every year he’d say “there’s a few agents after that Glenny”.

Eventually we purchased it and we’ve got a great relationship with MAB, we manage the marina down here on their behalf and also the car parking contracts as well.

We now have about 35 team members, two real estate offices and we’re really keen to open up an office in the CBD or Southbank, and even though we’ve looked at a few opportunities, we feel the best opportunity for us is to get the people and then proceed with the office.

UM: What are your thoughts on the current state of the market in Docklands?

GL: Last month was a ripper month for us with about 26 sales, very active with a lot of people making decisions and you know the really interesting figure is that 70% of our buyers are owner occupiers, and we see that as a real good news story for Docklands; that people are actually wanting to come down and live here in Docklands.

But I think the market is a bit patchy, it’s a different market altogether to other Melbourne areas such as Hawthorn, Kew, those sorts of areas where there’s a shortage of stock. Days on market average around 129; we average 71 days so it’s how you market and how you draw your people, but no we don’t have 20 groups coming through for an open for inspection, if we get 2 or 3 we feel that we’re pretty fortunate.

UM: What are resale values like in Docklands?

GL: If you go back to some of the earlier buildings you’ll get good gains, naturally the later buildings that are sold at $9,000-10,000/sqm are struggling to get to that sort of level although we do from time to time, but it depends on specific buildings. We’ve probably sold about half a dozen in The Quays that have either delivered people returns or close to.

I think what it comes down to is you hear a lot of reports on the market from out of area agents coming in here and not understanding Docklands, whereas our view is very simple: you have to explain what Docklands is going to look like in the future to prospective buyers. So if they have a reasonable understanding then they’ll pay a good price for the property. But if you try and sell it as someone who doesn’t know anything about the Docklands, who doesn’t know what the next tower is or infrastructure will bethen they’ll struggle.

Dylan Emmett: I think what we see down here, where there’s quality put into a development both the initial release, the secondary market and the rental market goes very strongly. Look at Mirvac's T5, which is a perfect scenario that when developer’s build quality stock people will pay good money for it.

UM: T5 would have to be one of the more sought after addresses in Docklands wouldn’t it?

GL: T5 was probably one of the better towers. 125sqm, two bedroom apartment with a 40sqm balcony and two car parks and as you guys would know, that’s a 3 bedroom or even a 4 bedroom in some other buildings. But then there’s also the facilities available was well and Mirvac certainly have a very good reputation and a good following. Their clientele generally consist of multiple buyers of Mirvac product – they do the databasing really well – so that when they do go to the market they can rely on about 20% of past clients buying into that building so their machine runs pretty well.

Lend Lease have done really well with their <a href="/buildings/concavo-8-waterside-place-docklands">Convesso Concavo</a> development as well - two high quality north facing towers; we'd love to get in there and be a bit more active.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fullsizerender.jpg" rel="gallery-all" title="Lend Lease's Convesso Concavo at Victoria Harbour. © Urban.com.au"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/fullsizerender.jpg?itok=jrhs86sy" title="Lend Lease's Convesso Concavo at Victoria Harbour. © Urban.com.au" width="580"></a>

<figcaption>Lend Lease's Convesso Concavo at Victoria Harbour.</figcaption></figure>UM: How has it been for you watching the Docklands develop over the last 15 or so years?

GL: Amazing. I’d go on holidays, be away for say two weeks and then I’d be rushing in to see what’s gone up… some of the towers now, as you would know go up a floor a week. I’m glad Harbour Town has sold and that there will be major changes and renovations to Harbour Town.

UM: There was a figure floating around of something like $1B worth of investment in Harbour Town by Ashe Morgan, the new owners.

GL: Well there’s a lot of space back there so I really hope they do. ING just weren’t investing back in their real estate side of their business.

UM: As specialists in the area, in terms of a policy or infrastructure what would you like to see?

GL: In terms of policy, I’d like more attention put into transport in the area here. I think if you’re on the corner of Lorimer and Montague at 8:30 in the morning or 6 at night you have no idea where the traffic is going, you don’t know what lane you’re supposed to be in – it’s just insane that intersection! And if they’re building another 29 buildings at Fishermans Bend they’re going to have to really have to do something about the transport there for sure. I think it’s something that is pretty critical.

As far as any sort of attraction is concerned I think either the wave pool beach concept, or the fountain in the middle of Victoria Harbour would be fantastic attractions down here in Docklands. The area does need something that will draw people back down here to help the retailers and restaurateurs draw crowds down here.

UM: The immediate area at NewQuay and Harbour Town will be getting another good influx of residents with MAB’s <a href="http://www.aquipromenade.com.au/aquipromenade">Aqui</a> and <a href="http://www.newquaypromenade.com.au/home">NewQuay Promenade</a> developments together with HiapHoe’s <a href="/buildings/marina-tower-6-pearl-river-road-docklands">Marina Tower</a> and hotel now under construction.

GL: For sure, that will definitely go some way to helping the area along, it’s all a cycle.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0368.jpg" rel="gallery-all" title="Aqui and NewQuay Promenade piling underway. © Urban.com.au"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0368.jpg?itok=PmxbH1r3" title="Aqui and NewQuay Promenade piling underway. © Urban.com.au" width="580"></a>

<figcaption>Aqui and NewQuay Promenade piling underway.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0369.jpg" rel="gallery-all" title="Marina Tower and Four Points Sheraton also at piling stage. © Urban.com.au"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0369.jpg?itok=rIaMeLaf" title="Marina Tower and Four Points Sheraton also at piling stage. © Urban.com.au" width="580"></a>

<figcaption>Marina Tower and Four Points Sheraton also at piling stage.</figcaption></figure>UM: What sort of demographic do you find moving to Docklands?

DE: Generally couples and empty nesters…

GL: The kids have left home and they're tossing up what they're going to do with their lives.

DE: A lot of their families are spread across Melbourne, left, right and center so it's a great position geographically for them to base themselves down here.

UM: Does it differ for the rental market?

GL: Actually, that's a good point.

DE: You still get a fair percentage of them but the majority of our renters are basically CBD workers.

GL: And not overseas students as some people like to believe. What percentage would they make up Dylan?

DE: Less than 5%. So very few. I think it's because we're a bit away from the universities so they still gravitate towards the CBD.

UM: Why do you think Docklands generates very little positive press in the media?

GL: I think it's an easy target for lazy journalists. They may have had a bad meal (laughs). They probably have a deadline and need an easy story so they pick between Tony Abbott or Docklands, they don't really understand that it's a developing suburb barely just over half way complete as we speak… there's a lot more to Docklands still to come.

UM: Planning experts and journalists often like to compare Docklands to the existing Hoddle Grid and criticise it for lacking the same atmosphere and activity. But if you look at Melbourne's CBD 20 years ago, and we're talking about an established city with over a century of history behind it, it was pretty much dead after work hours. You compare that to Docklands which is still establishing itself as part of the city but has only been around 15 years you can't expect the same result.

GL: And that's pretty much it. You've got to give it latitude and allow the growth to occur over time. There was a report just recently, maybe 3 or so months ago about vacancies in Docklands. It actually referred to water consumption in Docklands buildings.

Some company put out a report and a journalist picked it up and ran with it when in actual fact we have here less than 2% vacancy. We cannot get enough stock to satisfy the demand and number of inquiries we receive from renters averages 110 per week.

DE: The Quays is the best example of the most recently completed building whereby that was full within 4 and a half months and that's 500 apartments. Typically in the past it has taken up to six months to fill a building so I think it's a really good indication of the increased activity that we currently have in Docklands.

UM: Gentlemen, thank you both for your time.
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Lucas Real Estate and the current state of play in Docklands

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Docklands News recently reported on a proposal by company FCT Flames in conjunction with Avant-Garde de Studio to build a 'giant fountain and flame show'. According to the report the fountain and flame show would attract more than five million people to Docklands annually and generate at least $230 million for Victoria's economy every year.

From the <a href="http://www.docklandsnews.com.au/editions/article/docklands-offered-major-attraction_10532/">Docklands News report</a>:

<blockquote>
The fountain, which could also be transformed into a floating performance and event stage, would be located in Victoria Harbour, at the end of Central Pier.

Choreographed to music, the fountain would be programmed to music during the day and flames, pyrotechnics, video projection and lasers could be added at night for an even more awe-inspiring show.

With each show running for around 15 minutes, the fountain could be programmed to run multiple times per day or just a few nights per week.

It could also be programmed to match particular themes or special events.
</blockquote>

The populist view of Docklands is one of failure, wind-swept streets, and a lack of reasons for people - other than those who live or work there - to visit. My own view is not necessarily for or against the populist viewpoint, but it does involve various feelings which could be best described as moderate disappointment with a dash of faint positive hope for the future.

We've seen many attraction ideas for Docklands over the years with the most recent prior to the fountain and light show being a wave pool and urban beach at the end of Central Pier. To be frank, Melbourne isn't a beach city.

Sure, the metropolitan area wraps around an enormous body of water, but we're not a surfie city. Likewise the way Melbourne positions itself outside the typical koala, kangaroos and life's-a-surf-beach 'brand Australia' is our greatest strength.

The aspect I like the most with this proposal as reported in Docklands News: it's a robust outdoor space which can be adapted as needed and it would be accessible from multiple precincts within Docklands.

Victoria Harbour, the stadium precinct, Central Pier itself, Newquay and Waterfront City would all benefit from increased visitor activity and the impact on retail and hospitality facilities would have a more profound impact than an enclosed beach and wave pool.

The Docklands news report explores the proposal in more detail including looking at potential residential impacts and I recommend reading it. The video below is linked from the report.

Could this be the ticket for Docklands?

<iframe allowfullscreen="" frameborder="0" height="315" scrolling="no" src="https://www.youtube.com/embed/R_5zugCFij4" width="100%"></iframe>

Lead image credit: <a href="http://en.wikipedia.org/wiki/The_Dubai_Fountain">The Dubai Fountain, Wikipedia.</a>
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Alastair Taylor

A giant fountain in Docklands: could it be the ticket?

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Last week <a href="http://www.places.vic.gov.au/">Places Victoria</a> lodged a planning application for the Harbour Esplanade Master Plan with City of Melbourne who have since commenced assessment of the master plan, and will in due course prepare a report for consideration by the Future Melbourne (Planning) Committee sometime in early 2015.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tile_harbouresplanade1.jpg" rel="gallery-all" title="Harbour Esplanade. © Places Victoria"><img alt="" class="image-article-full-width-580px" height="408" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/tile_harbouresplanade1.jpg?itok=b5OSlFO7" title="Harbour Esplanade. © Places Victoria" width="580"></a>

<figcaption>Harbour Esplanade. © Places Victoria</figcaption></figure>In July 2014, Places Victoria and the City of Melbourne engaged <a href="http://www.hassellstudio.com/">Hassell</a> to refine the Harbour Esplanade Master Plan for what has thus far been an underutilised urban centrepiece for Docklands. The Master Plan is a blueprint for the future development of a flexible, adaptive and changing event space by the water. It proposes an 8m wide waterfront promenade spanning the full length of Harbour Esplanade and features seven key zones:

<ul>
<li>An Urban Plaza Zone at the southern end of Harbour Esplanade including a green area and improved east-west connections and crossings for pedestrians.</li>
	<li>An Exhibition and Events Zone, with flexible spaces that can be activated for events and exhibitions.This area will include some buildings and the potential for restored heritage sheds or elements of heritage sheds.</li>
	<li>A Water Transport Zone, making provision for a future ferry terminal.</li>
	<li>A Central Entrance and Service Zone, providing a key entry point to Central Pier and a flexible area for transport services during events.</li>
	<li>A Recreation Zone at the northern end of Harbour Esplanade featuring a water play space for families, a green area and improved east-west connections and crossings for pedestrians. This area will also include some buildings and the potential for restored heritage sheds or elements of heritage sheds, however views from LaTrobe Street to the harbour will be protected.</li>
	<li>A Heritage Vessel Zone, making provision for heritage vessels to be moored in the harbour.</li>
	<li>An Active Street Edge Zone which will see the improvement of the eastern street edge in front of Etihad Stadium.</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/harbour_esplanade_summary.jpg" rel="gallery-all" title="Harbour Esplanade Master Plan Overview. © Hassell"><img alt="" class="image-article-full-width-580px" height="375" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/harbour_esplanade_summary.jpg?itok=RWbI0ziB" title="Harbour Esplanade Master Plan Overview. © Hassell" width="580"></a>

<figcaption>Harbour Esplanade Master Plan Overview. © Hassell</figcaption></figure><h2>Looking beyond Harbour Esplanade to Central Pier</h2>

Of particular interest is Central Pier; although not encompassed within the Harbour Esplanade Master Plan, Places Victoria considers it to be a vital component of the Docklands waterfront that will ultimately breathe new life into the area. As such Places Victoria intends to begin progressing ideas to develop Central Pier in 2015.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tile_harbouresplanade2.jpg" rel="gallery-all" title="Central Pier / Harbour Esplanade. © Places Victoria"><img alt="" class="image-article-full-width-580px" height="408" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/tile_harbouresplanade2.jpg?itok=jdmjA57E" title="Central Pier / Harbour Esplanade. © Places Victoria" width="580"></a>

<figcaption>Central Pier / Harbour Esplanade. © Places Victoria</figcaption></figure><blockquote>
Places Victoria is the custodian of the historic Central Pier on behalf of the Victorian Government and the people of Victoria. The 350 metre extension into the waterways of Victoria Harbour is almost 100 years old and, together with Harbour Esplanade, forms the centrepiece of Docklands.

In 2006, Places Victoria entered into a lease agreement with Corporate Events Australia and The Atlantic Group, which saw the historic sheds on Central Pier restored for function spaces, offices and restaurants. The lease ensures that the use of Central Pier is maximised in the short to medium-term while providing flexibility to develop a long-term vision for the development of the area.

Central Pier’s Shed 9 is now one of the largest event spaces in Melbourne and Shed 14 is home to the Woolshed Pub, the artisan bread house Mill &amp; Bakery, Italian eatery Va Bene and cocktail bar Alumbra.

Places Victoria’s long-term vision for Central Pier is for it to become the most significant public water site in Victoria – a lively, interactive public hub at the centre of Docklands that will become a major destination for residents, workers and visitors of Docklands.
<cite>Places Victoria</cite>
</blockquote>

The Esplanade Master Plan is <a href="http://www.places.vic.gov.au/__data/assets/pdf_file/0009/12330/Harbour-Esplanade-Master-Plan-Submitted-to-City-of-Melbourne-December-2014.PDF">available for viewing</a>. For more information, visit the <a href="http://www.places.vic.gov.au/precincts-and-development/docklands/building-a-community/harbouresplanade">Places Victoria website</a>.
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Places Victoria submits Harbour Esplanade Masterplan

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The conversation around a potential Docklands oversupply has been going for some years.
Adjacent to Melbourne's CBD, Docklands is conveniently located and Places Victoria has big plans for the suburb.
With construction starting in 1997, and a 25 year time frame, we're right in the latter half of the development process. Teething problems have, almost inevitably, been highly scrutinised.
Last year, we reported that <a href="/news/vic/docklands-finding-its-feet-after-a-difficult-conception">Docklands was beginning to find its feet after a difficult conception</a>. However, there were <a href="/news/water-usage-reveals-high-vacancy-rates-in-southbank-and-docklands">still reports in late-2013 that water usage was revealing high vacancy rates</a> in the area of around 11%.
The 2014 <a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia">Prosper Australia report found that this had not improved this year</a>. In fact, in terms of water usage, Docklands has potentially the highest number of vacant properties in Melbourne.
With a median unit price of $600,000 currently, Docklands offers a gross rental yield of 4.51% with a median weekly advertised rent of $520, according to RP Data. They note the average hold period for a Docklands apartment is seven years, and while a -1.64% dip has been seen in the median price over the past three months, the 12 month growth is at 6.57% with annual average growth of 2.38%.
Glenn Lucas, managing director of Lucas Real Estate, is a resident in Docklands. He began selling real estate in the area in 2000 before establishing Lucas Real Estate in 2004. It is now the largest independent agent in the area and this year secured the Real Estate Institute of Victoria's Residential Property Manager of the Year title.
He doesn’t believe that the vacancy rate is a huge issue.
SQM Research records the vacancy rate at 4.4% at present, down from  a 2013 peak above 9%, with regular swings prior to this.
His agency’s vacancy rate sits at around 2%, and he’s quick to note that changing vacancy rates, or cyclical results, are a normal transitional part of any new market.
“Real estate goes through cycles and when a developer puts a tower to the market it’s when the market is at its highest. Then it takes a couple of years to build the tower. It takes time for the buyers to settle,” explains Lucas.
“There’s a good demand for [existing] properties, rentals are not dropping at all,” he says.
Renters come in many forms in Docklands. He points to the professional couples and singles that like the convenience of apartment living in the area, but also says a number of downsizers are also active in the area. Some students in budget apartments also make up a portion of the market.
“There is a market for one bedroom rentals, but it’s the two bedrooms that have done very well,” he says. These rent for between $450 and $650 per week.
While success in the short term may not have occurred for everyone, Lucas has seen some of the first Dockland properties that sold off the plan for $450,000 now achieving $650,000.
He shared four of their recent sales highlights:
<ul>
<li>1401/20 Rakaia Way, Docklands VIC 3008 - $915,000</li>
<li>2504/90 Lorimer Street, Docklands VIC 3008 - $1,310,000</li>
<li>1902/5 Caravel Lane, Docklands VIC 3008 - $900,000</li>
<li>2301/1 Point Park Crescent, Docklands VIC 3008 - $1,160,000</li>
</ul>
Property Observer looked through the latest RP Data to see what sales we could find.
When looking at the sales record from September 1 to today, with 72 sales, it appears gains and losses are in a strong mix. Those who held the property since 2002 or prior, particularly those with larger apartments, seem to have done well with strong gains.
However, those purchasing for the short term – as well as a pain period in 2003 where it seems a number of investors overspent – have realised losses upon selling in the past two and a half months.
Refining the search to those in even more recent days, from 1 November to today, we found the following sales:
<ul>
<li>Two bedroom, one bathroom apartment sold for $467,000 in 2008 and was listed as non-disclosed on the recent sale. It was advertised at $405,000 to $435,000.</li>
<li>Two bedroom, two bathroom apartment was bought for $677,500 in 2001 and listed non-disclosed on sale. It was advertised at $759,000 plus.</li>
<li>Two bedroom, one bathroom apartment bought in 2003 for $532,600 (after 2002 construction), it then sold in 2007 for $495,000, before selling again this month for $550,000.</li>
<li>Two bedroom, one bathroom apartment sold in 2002 for $430,000 before being purchasing in 2011 for $505,000. It sold again for $505,000 less than two weeks ago.</li>
<li>One bedroom, one bathroom apartment was listed as non-disclosed for sale price on 10 November. It transacted for $438,000 in 2002, and was asking for "offers over $420,000" this time round.</li>
<li>Two bedroom, two bathroom apartment sold at the beginning of the month for $450,000. No previous sales information available, but seems it was asking $499,000 to $539,000, before lowering the expectations to $455,000 in January 2013.</li>
<li>One bedroom, one bathroom apartment sold for $456,000 this month after selling in June for $310,000, prior to this it was bought for $301,000 in 1999.</li>
<li>Three bedroom, two bathroom apartment sold for $1,310,000 on the 14th, previously selling for $1,100,000 in 2011. Prior to this it sold for $1 million in 2008 and $1,370,000 in 2005.</li>
<li>Three bedroom, three bathroom apartment sold for $765,000 on the 11th. It was bought for $715,000 in 2013 and $683,000 in 2001.</li>
<li>Two bedroom, two bathroom apartment sold for $730,000 on 11th. It last sold for $1,025,000 in 2010.</li>
<li>One bedroom, one bathroom apartment sold for $335,000. It was purchased in February 2008 for $375,000 and March 2007 for $350,000.</li>
<li>One bedroom, one bathroom apartment sold for $380,000 on 12th. It was previously bought for $400,000 in 2009.</li>
</ul>
Looking at the list a little closer, it shows that there were three clear losses, four clear gains, three “possible” losses, one “possible” gain and one that recorded no change (though likely a loss for the investor in terms of transaction costs).
What is particularly interesting is the losses seen by those who sold to our most recent vendors in the list; even when gains are seen now there has been pain in the past. Perhaps it suggests an emerging recovery.
“Like any investment, we recommend [holding] for the medium to long term,” Lucas urges of those considering a Docklands investment.
It seems he is on the money.
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