Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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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