A Moroccan-bathhouse residential tower has been unveiled for Budds Beach, with Australian developer <a href="https://www.apartments.com.au/developers/homecorp">Homecorp</a> announcing plans for a $260 million resort-style project in one of the Gold Coast’s most tightly held waterfront precincts.

A development application has been submitted to the Gold Coast City Council for a 27-storey tower at 8-10 Acacia Avenue and 25-27 Oak Avenue, Surfers Paradise, marking one of the few new large-scale residential projects proposed for the precinct in more than a decade.

The project will comprise 156 two- and three-bedroom residences, anchored by a residents-only Moroccan spa-inspired wellness sanctuary featuring private treatment rooms, a traditional Nordic sauna and steam room, hot and cold plunge pools and a curated juice bar. There will also be a resort-style rooftop precinct, complete with a heated infinity pool and spa, a residents’ lounge with a private kitchen and bar, a contemporary fitness centre with a yoga and Pilates studio, and outdoor BBQ areas with entertaining lounges.

<img alt="8-10 Acacia Avenue and 25-27 Oak Avenue, Surfers Paradise" data-entity-type="file" data-entity-uuid="997f8dbb-4ed1-47e4-8780-d12a3d5cd0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_3.png?VersionId=IsDJXxE8.HG92i4dnbmmPQi.fVXjME7I" />

"At Homecorp, we are driven by the pursuit of better - challenging expectations, thinking bigger and shaping communities that leave a lasting legacy," said Ron Bakir, CEO and Founder of Homecorp.

"This project draws on our experience and expertise to take what the market has been craving to the next level - a home that nurtures wellness, calms the mind and lifts the everyday stresses away. A home is more than a place you live, it’s where you rest, reset and find balance."

&nbsp;

Bakir says what sets the location&nbsp;apart is its rare, tightly held nature within one of the Gold Coast’s most vibrant lifestyle and entertainment precincts, yet quietly tucked away in a peaceful, beachside enclave.

"Budds Beach has remained exceptionally limited in supply over the past decade and this site presented an unmatched opportunity to deliver something truly special to both Surfers Paradise and the Gold Coast.”

Conveniently connected to major roads and the G:link, residents will enjoy easy access to Surfers Paradise, Broadbeach and Burleigh Heads, while still being just minutes from the city’s most iconic beaches and the Broadwater’s ‘golden mile’.

The 2130 sqm site acquisition adds to Homecorp’s growing Gold Coast multi-storey portfolio on the Gold Coast, following the success of Eve Residences in Labrador upon its completion in November 2024. In 2025, Eve earned multiple national accolades and went on to win ‘Best Oceanview Condo Development’ in the Asia Pacific region at the PropertyGuru Asia Property Awards Grand Final, outperforming entries from more than 13 prestigious international markets.

The company also commenced construction last year on the highly anticipated $250 million second stage of Cienna Varsity Ridge, set to deliver 289 residences by 2027 in the heart of Varsity Lakes, and launched the $210 million Florence Residences along Surfers Paradise’s Monte Carlo Avenue to the market, with construction kicking off last month.

"The property market is constantly evolving, particularly here on the Gold Coast, which continues to outperform national trends thanks to its unmatched lifestyle, natural beauty and growing infrastructure, especially ahead of the Brisbane 2032 Olympics. We are proud to be adding more homes to the skyline, creating spaces that are not only designed for liveability but also nurture wellness within. They are homes that are built to last a lifetime and beyond," concluded Mr Bakir.

The project is set to launch to the market later this year.

Joel Robinson

Homecorp lodges plans for $260 million Moroccan bathhouse-inspired tower in Budds Beach

What began as a leap of faith in the 1970s has evolved into one of the Gold Co​ast's most enduring development success stories. Raptis, now led by second-generation developer Evan Raptis, continues to shape the region's skyline four decades after patriarch Jim Raptis first ventured north from Sy​dney.

Jim Raptis began developing in Sy​dney in his 20s under the guidance of a seasoned mentor. After several successful joint ventures, he sensed untapped potential on the Gold Coast and made the bold decision to relocate. That instinct proved prescient, the Raptis family has contributed thousands of apartments to what was once purely a tourist destination and is now recognised as Australia's lifestyle capital.

[smartcode_project:default project_id=101620 project_image_fid=361818]

With decades of experience navigating the complex Gold Coast development landscape, Raptis maintains fully vertical integration, from site acquisition and construction through to marketing and sales strategies. This comprehensive approach has allowed the company to weather multiple market cycles and emerge well-positioned for the region's continued growth.

"We've seen the region change drastically over the last two decades, with that change accelerating in the last five years," says Evan Raptis. "The Gold Coast is becoming unrecognisable. There are some exciting projects happening up and down the coast. The Spit is being talked about as Australia's version of Monaco, with billions in development underway."

Unlike the volatile pre-GFC years that rocked the Gold Coast market, Raptis believes the region has matured considerably. "Demand remains strong, but the market is now settled and stable."

[smartcode_project:default project_id=101620 project_image_fid=361823]

While the company recently completed Pearl Main Beach, an 84-apartment development just 53 steps from the sand, Broadbeach has truly been home for the Raptis family.

"There's nothing Broadbeach doesn't have," Raptis says. "There's always a new café or restaurant coming into the neighbourhood, and the redevelopment of the Niecon Plaza, bringing nearly 5,500 square metres of retail, dining and office space, will only elevate Broadbeach even further."

[smartcode_project:default project_id=101620 project_image_fid=357483]

The suburb has reached what Raptis describes as a "settled phase" of its evolution, with owner-occupiers and repeat visitors increasingly shaping demand rather than traditional investors.

The company's latest Broadbeach project, Sterling, is now constructed to level 22 and scheduled for handover in June 2026. With approximately 70 per cent of apartments already sold ahead of completion, the development has attracted a distinct buyer profile.

[smartcode_project:default project_id=101620 project_image_fid=361821]

"We're seeing significant interest from lock-up-and-leave buyers and downsizers," Raptis explains. "Some use the apartments over Easter or Christmas, while others come down from Brisbane on weekends. They aren't your typical 'investors' who will put the apartments up for permanent rental."

Sterling offers prospective buyers a rare advantage: fully completed display apartments showcasing several two- and three-bedroom configurations, something few off-the-plan developments can provide.

With another Broadbeach project in the pipeline, Raptis emphasises that the next chapter is about maintaining standards rather than pursuing growth at any cost.

"We've been building for over four decades, and our track record matters. Our focus remains the same: deliver what we build, stay close to the details, and delivering a finished product that hopefully exceeds our clients' expectations."

[smartcode_project_cta:default project_id=101620]

It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline

JWLand has completed the final residential stage of its Lyneham precinct, Northbourne Village, with De Burgh now welcoming residents who have begun settling into their new homes.

A selection of the 350 studio, one, two, and three-bedroom apartments remains available within the two-building <a href="https://www.apartments.com.au/buildings/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a>, which occupies a prominent position along Northbourne Avenue.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The apartments at De Burgh have been configured to prioritise natural light, privacy, and usable outdoor space, with ground-floor homes featuring private courtyards and upper-level apartments opening to generous balconies. Double-glazed windows are standard across the development, supporting acoustic comfort and improved energy performance.

Kitchens are fitted with Fisher &amp; Paykel appliances, while all residences include ducted reverse-cycle air conditioning integrated with app-based controls, allowing residents to manage lighting and climate remotely. These inclusions reflect a broader focus on durability, efficiency, and everyday functionality rather than short-term finishes.

[smartcode_project:default project_id=139989 project_image_fid=356280]

Shared amenity is delivered through a resident gym, rooftop garden, lounge spaces, parcel lockers, and landscaped communal areas that connect De Burgh to the wider Northbourne Village environment.

Nick Babic, Marketing Project Manager at JWLand, said the completion of De Burgh gives buyers a level of certainty that off-the-plan purchases cannot always provide.

“There’s no need to wait or play guessing games. You can come and see the spaces firsthand, and genuinely picture yourself living there today. That includes not only the apartments, but the amenities as well. It’s easy to imagine enjoying a coffee in the central courtyard or spending time with other residents in the lounge.”

The completed status of the project aligns with strong buyer demand for finished stock, particularly among first home buyers, young professionals, and downsizers seeking certainty around timing and cost.

[smartcode_project:default project_id=139989 project_image_fid=356282]

With pricing ranging from $463,000 to $1.588 million, much of the offering sits within reach of buyers looking to enter the Inner North apartment market.

De Burgh’s location underpins its buyer appeal, positioned approximately 600 metres from the light rail and three kilometres from Canberra’s CBD, with direct access to <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands, Sullivan’s Creek parkland, and the established hospitality and retail precincts of Lyneham and Dickson.

[smartcode_project_cta:default project_id=139989]

Canberra's newest apartment building: JWLand completes De Burgh at Northbourne Village

One of Victoria’s largest private developers, Central Equity, has commenced construction on Palmera, its $1 billion luxury residential development at Northcliffe on the Gold Coast, appointing Tier 1 builder Multiplex to deliver the project.

The fast-track to construction is being undertaken ahead of Central Equity officially launching the project to market.

The company says the move reflects its confidence in both the calibre of its offering and the Gold Coast’s long-term fundamentals, underpinned by one of Australia’s strongest growing economies, continued population growth and sustained infrastructure investment.

A diversifying employment base across health, education, professional services and tourism has helped insulate the local economy from volatility, while limited new supply in established coastal locations continues to support demand from owner-occupiers and downsizers seeking long-term lifestyle value.

<a href="https://www.apartments.com.au/new-apartments/palmera-residences-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a> is being constructed in the prestigious Northcliffe residential neighbourhood on an expansive 3,239 sqm site. It is located at 18 Garfield Terrace near the Northcliffe Surf Life Saving Club and the patrolled Northcliffe surf beach, situated between Broadbeach and Surfers Paradise.

[smartcode_project:default project_id=108274 project_image_fid=361249]

Offering a mix of spacious three-bedroom apartments over 52 levels, Palmera is designed to deliver a full suite of premium residences to buyers looking for the ultimate coastal lifestyle that the Gold Coast has to offer.

The project’s premium apartments will deliver northern views across the Surfers Paradise beachfront and extending all the way around to Burleigh Heads and beyond.

Palmera will be crowned by its top four levels, being a limited collection of penthouses and skyhomes that further elevate the residential offering through generous proportions and uninterrupted panoramic views.

[smartcode_project:default project_id=108274 project_image_fid=361246]

The appointment of Multiplex as the builder represents a major milestone for Palmera and cements Central Equity’s commitment to the Gold Coast after delivering more than 85 residential projects over the past four decades. It will be the 20th project collaboration between Central Equity and Multiplex.

“The commencement of construction at Palmera marks a major milestone for the project, with Tier 1 builder Multiplex appointed to deliver the development in the highly sought-after Northcliffe residential precinct on the Gold Coast,” said Central Equity Executive Director Karl Kutner.

“Our commitment to commence immediate construction is in line with our resounding confidence in the Gold Coast over the long term. The city has evolved and proven to be one of Australia’s most dynamic and resilient property markets in recent years.”

[smartcode_project:default project_id=108274 project_image_fid=361250]

Multiplex, one of Australia’s largest builders, has been shaping skylines and delivering iconic projects around the world since 1962. In that time, the Tier 1 global contractor has delivered projects with a combined value of more than US$130 billion.

“Having worked with Multiplex on many previous developments, we are pleased to be extending our relationship further with Palmera,” Kutner added.

“Multiplex brings an unparalleled depth of experience to ensure that Palmera fulfils the vision we have laid out for this strategic location and is delivered to the highest standards,” he said.

Multiplex Regional Managing Director Michael Sinclair said Multiplex was delighted to be aligning with Central Equity yet again.

“Central Equity is creating a stunning new addition to the Gold Coast skyline, and we look forward to bringing their vision to life with a world-class construction team and program. We are proud to be working alongside Central Equity on our 20th project together.”

Palmera has been designed by Marchese Partners, with interiors by DBI.

[smartcode_project:default project_id=108274 project_image_fid=361247]

Residents will have private access to extensive, state-of-the-art amenities, featuring two large pools including a generously scaled, family-friendly pool with safe shallow zones, and a 25-metre lap pool facing the western side, ensuring maximum sunlight all day.

Also available exclusively to residents is a sauna, magnesium pool, yoga studio, expansive gym, resident lounge, outdoor BBQ and dining areas. Residents will also be welcomed by concierge and luxurious entry foyer.

Located on Garfield Terrace in Northcliffe, Palmera enjoys a prime coastal position just moments from the patrolled Northcliffe beach and the G:link light rail, providing effortless connectivity along the Gold Coast’s beachfront suburbs, linking the Gold Coast University Hospital in the north with Nobby beach and Burleigh Heads to the south once the extension completes later this year.

[smartcode_project_cta:default project_id=108274]

Central Equity unveils Palmera on Garfield Terrace, Surfers Paradise

The idea of a low-maintenance forever home located close to the city were the two driving factors behind a recent purchaser’s journey at Murcia, the under-construction East Brisbane apartment development by Sarazin.

Last year, Lois and her husband purchased a two-bedroom plus multi-purpose room (MPR) apartment in the new building, which is being constructed by Hutchinson Builders and is on track for completion in late-2027.

[smartcode_project:default project_id=135094 project_image_fid=341638]

The couple’s number one priority was to remain within easy commuting distance of the city for work. Murcia is positioned alongside the new Cross River Rail, with Woolloongabba Station just 300 metres from the front door.

They are currently living in their Annerley unit, which they have owned for several years, after recently moving out of their inner-city apartment, located on the very same street as Murcia.

“We had watched the development for a long time, and when construction activity began, that’s when we felt confident to buy,” Lois said.

[smartcode_project:default project_id=135094 project_image_fid=356540]

The timing also made sense. By moving back into their Annerley unit, they are able to save money ahead of settlement, while looking forward to returning closer to the city once Murcia is complete.

“We see Murcia as a forever home, as opposed to an investment, or something we need to appreciate massively in value and move on from in a few years,” Lois said.

“We secured an apartment large enough to grow a family, so we’re expecting to call Murcia home for a very long time.”

The couple plan to grow their family, but without the added maintenance demands of owning a standalone house further from the city. Working with Sarazin and architect HAL, they were able to slightly tweak the floorplan, converting the two-bedroom plus MPR layout into a functional three-bedroom apartment.

An added bonus was the recently revised communal space plans, which now incorporate a dedicated working-from-home area, complete with work pods, and shared desks.

“It means the third bedroom doesn’t have to become a part-time office and part-time bedroom,” Lois said, adding that residents have the benefit of working from home without actually being inside their apartment.

The rooftop wellness amenity was another standout compared to living in an established complex or a house. A signature feature of Sarazin developments, the rooftop will include a full gym, hot and cold plunge pools, a steam room and sauna, and a hotel-style pool with cabanas.

[smartcode_project:default project_id=135094 project_image_fid=214682]

Buyer journeys can vary significantly, from purchasing in the established market to buying new, or choosing between houses and apartments. Lois said they knew immediately that buying off the plan was right for them.

“We wanted something new, with less maintenance, and we weren’t quite ready to make the full financial leap straight away. The timing and deposit structure gave us the flexibility we needed.”

Designed by HAL Architects and inspired by the Spanish city of Murcia, the development takes a Mediterranean-influenced approach to architecture and landscaping, with a strong emphasis on shared spaces.

“The design feels considered, the amenities support how we actually live, and the location keeps us connected to the city without feeling right in the middle of it.”

Murcia is Sarazin’s second development in the area, following the completion of Silk One just up the road in 2022. They have several more projects coming to market in Woolloongabba ahead of the 2032 Brisbane Summer Olympics.

[smartcode_project_cta:default project_id=135094]

Close to the city, built for the future: Inside a growing family’s move to Murcia in East Brisbane

Ewert Leaf

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Melbourne's south-east apartment market is set for a major boost with Melbourne developer Steller launching three projects in two weeks across Carnegie, Bentleigh and Cheltenham. Apartments.com.au is currently tracking Steller's project pipeline valued at over $4.2 billion, which includes its first high-rise foray in South Melbourne, working alongside longtime collaborator architect Ewert Leaf. Already the partnership has yielded hundreds of apartments across Melbourne's South Eastern suburbs.

Steller also recently commenced construction on the first stage of its $80 million Continental Hotel redevelopment in Sorrento. The major redevelopment will re-imagine the 143-year-old icon as a luxury accommodation, wellness, recreation, entertainment and dining destination, with the heritage hotel restored as a leading hospitality and events establishment, along with the addition of three new proposed interconnecting buildings, which will include premium hotel rooms and a wellness centre including a day spa and gym.

<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/continental_hotel-sorrento.jpg" rel="gallery-all" title="Work has commenced on the $80 million Continental Hotel development in Sorrento. Images: Supplied"><img alt="" class="image-article-full-width-580px" height="186" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/continental_hotel-sorrento.jpg?itok=TeJIBVrR" title="Work has commenced on the $80 million Continental Hotel development in Sorrento. Images: Supplied" width="580"></a>

<figcaption>Work has commenced on the $80 million Continental Hotel development in Sorrento. Images: Steller</figcaption></figure>Steller's trio of new apartment developments are all located within maturing apartment markets which are well serviced by public transport and within close proximity of retail strips, schools and supermarkets. Carnegie and Bentleigh in particular have benefited from the Victorian Government's Level Crossing Removal program which included the reconstruction of the respective stations, removing the conflict between rail and vehicle, while easing congestion.

Additionally, the three projects align with Steller's strategy in the south-east of delivering low-rise developments of around 30 apartments which are well designed and offer residents a high level of amenity.

<h2><a href="/buildings/laila-residences-7-11-belsize-avenue-carnegie">Laila - 7-11 Belsize Avenue, Carnegie</a></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/am18-21_lailaresidences_domain_living_1920x1080.jpg" rel="gallery-all" title="Laila, Carnegie. Image: Steller"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/am18-21_lailaresidences_domain_living_1920x1080.jpg?itok=tkYZj0lK" title="Laila, Carnegie. Image: Steller" width="580"></a>

<figcaption>Laila, Carnegie. Image: Steller</figcaption></figure>Located within the heart of Carnegie, Laila comprises 35 apartments across four levels, within walking distance of the Koornang Road retail and dining strip, green open space and the recently rebuilt Carnegie Station. The project also capitalises on its proximity to Chadstone Shopping Centre and Monash University’s Caulfield campus, both just just five minutes’ drive away in either direction.

Ewert Leaf's design for the exterior of the building allows it to sit comfortably within the low-rise streetscape. Employing a neutral palette of contrasting shades and highly textured materials, Laila is articulated as a series of buildings rather than one singular mass, with the upper level setback and designed to be visually recessive. The built form has also been designed to maximise privacy while minimising overshadowing to adjoining properties.

Laila's mix of one, two and three-bedroom apartments, each come with one or two bathrooms, and private outdoor spaces which seamlessly connect to the interiors, with large windows providing living areas with ample natural light and ventilation. The interiors feature timber flooring throughout, while kitchens are appointed with sleek black ILVE appliances and shaker style cabinets.

<h2><a href="/buildings/sora-13-15-hamilton-street-bentleigh">SORA - 13-15 Hamilton Street, Bentleigh</a></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/steller_sora_bentleigh_digital_assets_domain_premium_project-gallery_photos_1920x1080px_012.jpg" rel="gallery-all" title="Sora, Bentleigh. Image: Steller"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/steller_sora_bentleigh_digital_assets_domain_premium_project-gallery_photos_1920x1080px_012.jpg?itok=O5VI-U7x" title="Sora, Bentleigh. Image: Steller" width="580"></a>

<figcaption>Sora, Bentleigh. Image: Steller</figcaption></figure>Ewert Leaf are once again the architects behind SORA, a four-storey low-rise of 27 apartments located 15km from the Melbourne CBD in Bentleigh.  Providing a mix of larger one, two &amp; three bedroom apartments, SORA has been designed to appeal to professionals, couples and families.

Situated within walking distance of Bentleigh Station, SORA also benefits from its proximity to Coles, Target, and the Centre Road retail strip which provides an array of essential services and amenity. A number of green spaces are also located within a short walk.

SORA's exterior is characterised by its tiered form, and combination of timber, brick and textured concrete with planters and vegetation providing green flourishes on the facade. The building is expressed as two forms to respond to the built form along the Hamilton Street and to minimise its impact on the streetscape and surrounding properties.

Internally, SORA comes complete with ILVE kitchen appliances and much like Laila, shaker-style cabinetry and natural timber flooring. In keeping with the desire to provide apartments with natural light and ventilation, large windows have been provided which also allow for a green outlook and seamless transition to the outdoors.

<h2><a href="/buildings/maude-7-11-maude-street-cheltenham">Maude - 7-11 Maude Street, Cheltenham</a></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/steller_mc_maude_street_cheltenham_digital_assets_domain_premium_project-gallery_photos_1920x1080px_01.jpg" rel="gallery-all" title="Steller's Maude is set to launch in the next week. Image: Steller"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/steller_mc_maude_street_cheltenham_digital_assets_domain_premium_project-gallery_photos_1920x1080px_01.jpg?itok=dXB56Mya" title="Steller's Maude is set to launch in the next week. Image: Steller" width="580"></a>

<figcaption>Steller's Maude is set to launch in the next week. Image: Steller</figcaption></figure>Set to launch to market in the next week, this four-storey building comprising 34 apartments has been designed by regular Steller collaborators, Ewert Leaf. Look out for Apartments.com.au's feature on Cheltenham's development pipeline including Maude next week.
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Laurence Dragomir

A Steller showcase in Melbourne's south-east

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Steller's intended development of a low-rise South Melbourne corner site has taken another step closer to fruition with Ewert Leaf producing a new design for 200-204 Wells Street.

What shapes as the first high-rise for both developer and architect is also set to continue the very well established relationship between the duo. The partnership has yielded hundreds of apartments over numerous sites predominantly across Melbourne's South Eastern suburbs.

Steller landed the South Melbourne plot after it was offered for sale via a Lemon Baxter campaign during late 2017. The sale came after approval was granted during June 2017 for an Artisan Architects-designed tower containing 174 apartments.

That scheme included a Gross Floor Area of 21,857 square metres over 20 levels.

<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/image154_1.jpg" rel="gallery-all" title="Lemon Baxter's sales image for the Wells street site"><img alt="" class="image-article-full-width-580px" height="347" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image154_1.jpg?itok=3stxkgms" title="Lemon Baxter's sales image for the Wells street site" width="580"></a>

<figcaption>Lemon Baxter's sales image for the Wells Street site</figcaption></figure>Reflective of a number of pending residential towers surrounding Steller's site, the apartment balance has been reworked to better suit current market conditions. The approved 174 apartments are likely to shrink to 84 according to Ewert Leaf, split between 36 single, 36 double and 12 triple bedroom apartments across its 18 levels.

The nearby <a href="/buildings/the-eighth-south-melbourne-22-kings-place-south-melbourne">8 Palmerston Crescent</a> for Crema Group also spans 18 levels and consists of only two and three bedroom apartments. 

The apparent dramatic reduction in Steller's Wells Street apartment numbers can also be attributed to the inclusion of commercial office space and a marked increase in space associated to amenities. Ewert Leaf note the tower's Net Saleable Area as at 6,907 square metres, equating to an average apartment size of just over 82 square metres across 84 apartments.

200-204 Wells Street finds itself on the eastern border of South Melbourne, and is within walking distance to the under construction Anzac Station. The area is becoming increasingly popular with developers owing to its location and abundance of relatively modern low-rise buildings suitable for redevelopment.

<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/1-3-596x727.jpg" rel="gallery-all" title="Ewert Leaf's first high-rise project in the making"><img alt="" class="image-article-full-width-580px" height="707" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1-3-596x727.jpg?itok=CP1gP6dy" title="Ewert Leaf's first high-rise project in the making" width="580"></a>

<figcaption>Ewert Leaf's first high-rise project in the making</figcaption></figure>Ewert Leaf describes the project as follows:

<blockquote>
The development comprises 84 apartments, 3 levels of office space and 2 levels of shared communal facilities for the residents of the building. These communal facilities include hotel style offerings of pool, day spa, lounges, café, restaurant and private dining options. 

The podium features angled concrete planes, which are glazed or clad with a perforated mesh, creating an undulating form which wraps the corner site and draws your eye around the building.

To emphasise the slenderness of the tower, the form has been broken down into concrete frames which wrap a number of levels, creating a simple and unified form. The concrete is further utilised in a ribbed pattern on the east and west facades.

Perforated mesh screens to the balconies create winter gardens and enable residents to use these spaces all year.
</blockquote>

200-204 Wells Street is Steller's first high-rise pursuit in a catalogue of developments that reaches past 50.

Currently, Apartments.com.au is tracking 30 developments under the Steller umbrella. The Wells Street tower aside, other sizeable pending projects for the developer include <a href="/buildings/13-15-chesterville-road-cheltenham">Chesterville Road</a>, <a href="/buildings/13-15-taylor-street-moorabbin">Taylor Street</a> and Elsternwick's <a href="/buildings/eva-elsternwick-village-apartments-241-glen-huntly-road-elsternwick">Glen Huntly Road</a>.
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silvermb

Steller and Ewert Leaf combine for a reworked South Melbourne apartment tower

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Elsternwick may potentially receive a new tallest building as Steller's latest project hits advertising, revealing a Ewert Leaf-designed mixed-use scheme for 233-247 Glen Huntly Road.

A prompt turnaround of the site is on the cards, with Steller simultaneously revealing that they were the purchaser of the site and lodging the project with City of Glen Eira during July. The 2,340sqm site which also fronts Ripon Grove was secured by the prolific developer for $25 million.

233-247 Glen Huntly Road would usurp the completed <a href="http://www.plusarchitecture.com.au/portfolio/element/">Element</a> development nearby at 221-229 Glen Huntly Road as Elsternwick's tallest contemporary development.

<h2>233-247 Glen Huntly Road 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/image10steller.jpg" rel="gallery-all" title="Rendered perspective from street level. Planning image: Ewert Leaf"><img alt="" class="image-article-full-width-580px" height="380" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10steller.jpg?itok=YZ3PwXe8" title="Rendered perspective from street level. Planning image: Ewert Leaf" width="580"></a>

<figcaption>Rendered perspective from street level. Planning image: Ewert Leaf</figcaption></figure><ul>
<li>Currently onsite: Commercial tenancies and a dwelling</li>
	<li>Proposed: 12 level building at 41.4m in height</li>
	<li>117 apartments: 2 x 1BR, 111 x 2BR, 4 x 3BR</li>
	<li>Apartment size range: 64sqm - 143sqm</li>
	<li>2 retail tenancies: 974.8sqm combined</li>
	<li>1 office tenancy: 896.7sqm</li>
	<li>Provision for 172 vehicles &amp; 127 bicycles</li>
	<li>Communal roof terrace</li>
	<li>Anticipated cost of development: $39.45m</li>
</ul>
<h2>A new iteration</h2>

Steller's current aspirations for 233-247 Glen Huntly Road are not necessarily groundbreaking in that VCAT has in the past endorsed a similar-sized scheme for the site.

During 2011 consent was given for a building rising up to 10 levels and containing 141 apartments. That scheme also included the adjoining church on Ripon Grove which was to have been converted into an additional 21 dwellings, although the church which is described as having architectural and social importance by Heritage Council Victoria is not included within the current application.

233-247 Glen Huntly Road falls under an urban renewal zone within the <a href="http://file:///C:/Users/silvermb/Downloads/Draft-Elsternwick-Structure-Plan.pdf%5C">Draft Elsternwick Structure Plan</a>, allowing this and adjoining sites to receive intensified development.

According to the development team, the current scheme has been designed to comply with relevant planning overlays.

<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/image15ghr.jpg" rel="gallery-all" title="Aerial rendered perspective. Planning image: Ewert Leaf"><img alt="" class="image-article-full-width-580px" height="384" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image15ghr.jpg?itok=qKow4kur" title="Aerial rendered perspective. Planning image: Ewert Leaf" width="580"></a>

<figcaption>Aerial rendered perspective. Planning image: Ewert Leaf</figcaption></figure><h2>Steller's next wave</h2>

Steller's move on Elsternwick coincides with the news that they are the recent purchaser of St Kilda's former Greyhound Hotel site.

Picking up the vacant block for $7.5 million, Steller may well redesign the approved plans from eight levels into a seven level mixed-use project including 37 apartments and two retail spaces. Addressed 1 Brighton Road, Savills recently handled the marketing campaign for the 911sqm site which included approved plans devised by Terry Harper Architects.

Both Elsternwick and St Kilda reinforce Steller's push into Melbourne's inner south-eastern corridor, following on from the developer's purchase earlier this year of a permitted 20 level tower at 200-204 Wells Street in South Melbourne.

That site holds approval for an Artisan Architects-designed tower of approximately 200 apartments, after being sold via Lemon Baxter earlier this year.

<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/image12_13.jpg" rel="gallery-all" title="St Kilda and South Melbourne were both purchased with approved schemes."><img alt="" class="image-article-full-width-580px" height="204" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image12_13.jpg?itok=h3d38G58" title="St Kilda and South Melbourne were both purchased with approved schemes." width="580"></a>

<figcaption>St Kilda and South Melbourne were both purchased with approved schemes.</figcaption></figure>
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Steller seeks a new Elsternwick high point

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Fueled by an investor-driven market, the CBD and Southbank ruled the apartment sales market over recent years. That was then, but now the mantle rests with Melbourne's inner eastern suburbs, where developers have jumped upon a recurring project format which gives their project the greatest chance of success.

Low-rise developments with spacious apartments designed for the owner-occupier. Simple really?

Simple or otherwise, the proliferation of low-rise three to five level apartment buildings in suburbs such as Hawthorn, Malvern and Glen Iris demonstrates the strong consumer uptake of projects which shy away from smaller, investor-driven apartment formats. 21 Riversdale Road is the most recent example of the strength of the inner east apartment market.

Agent Marshall White Projects has just revealed they signed off on $12 million in sales during a single day for the luxury residential project in Hawthorn which features 22 oversized apartments. This high mark was achieved one month prior to the project’s public launch and before any sales or marketing material was made available.

The $32 million project is being developed by Moda, whilst Ewert Leaf undertook the design; the practice has made a habit of creating highly successful low-rise apartment schemes in Melbourne's southern and eastern suburbs for some time now.

Director of Marshall White Projects, Leonard Teplin denotes 21 Riversdale Road's features which are apparent across many of the current batch of apartment projects in Melbourne's east - oversized, light-filled apartments with high-quality finishes, designed to attract the owner occupiers and the ability customise floor plans to create larger apartments.

95% of the early purchasers were local downsizers from either Stonnington and Boroondara.

<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/image5mwh21_0.jpg" rel="gallery-all" title="21 Riversdale Road's open plan living space. Image: Marshall White Projects"><img alt="" class="image-article-full-width-580px" height="390" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image5mwh21_0.jpg?itok=VdclnC0a" title="21 Riversdale Road's open plan living space. Image: Marshall White Projects" width="580"></a>

<figcaption>21 Riversdale Road's open plan living space. Image: Marshall White Projects</figcaption></figure><h2>Commentary by Leonard Teplin</h2>

<blockquote>
The success of a project is dependent on its ability to understand the needs of the market and deliver a product that not only meets, but exceeds those needs.

21 Riversdale Road is a prime example of what happens when developers get it right – when you create a quality project and invest the time and resources early on, the development speaks for itself and you end up spending less on sales and marketing down the track.

Projects located within Melbourne’s wealth belt affords the benefits of connectivity and proximity to lifestyle amenities, while also offering the quiet leafy streets that are favoured by the downsizer market.
</blockquote>

<h2>The format for success</h2>

Assessment of the Apartments.com.au Project Database shows the strength on the low-rise luxury apartment market through the inner eastern suburbs.

Adding locales such as Camberwell, Hawthorn East, Kew, Malvern East and Toorak to the aforementioned suburbs Hawthorn, Malvern and Glen Iris reveals a clear cut penchant for low-rise apartment projects. Across these 8 suburbs, 136 apartment projects are in various stages of development, and of those only 27% have six or more levels.

Restrictive planning controls coupled with the target market's appetite of low-rise luxury living across Stonnington and Boroondara in particular is plain to see.

<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_11.jpg" rel="gallery-all" title="A sample of current apartment project in Melbourne's inner east"><img alt="" class="image-article-full-width-580px" height="467" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image34_11.jpg?itok=6OutAFXr" title="A sample of current apartment project in Melbourne's inner east" width="580"></a>

<figcaption>A sample of current apartment project in Melbourne's inner east</figcaption></figure>
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Melbourne's inner east keeps the apartment light burning bright

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...prolific apartment developer Steller.

Provided you're in the right suburb, chances are when you peer over your back fence you'll be looking at a Steller project under construction.

The Carnegie-based outfit has made a habit of targeting suburban Residential Growth Zones with low-rise apartment projects - and very successfully. Steller has no less than 22 projects currently within the Apartments.com.au Project Database; based on database entries alone they are a veritable quantum leap ahead of the next.

Steller's upswing can be attributed to a number of factors. Primarily, the developer focuses on 3-5 level apartment buildings across Melbourne's southern and eastern suburbs where owner-occupiers are currently all the rage.

Working generally within the 20-40 apartment band per project, two and three bedroom options rule to roost. Single bedroom apartments few and far between.

<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/image27_6.jpg" rel="gallery-all" title="Bentleigh is the epicentre of Steller's project map"><img alt="" class="image-article-full-width-580px" height="348" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image27_6.jpg?itok=LrIb8Ru9" title="Bentleigh is the epicentre of Steller's project map" width="580"></a>

<figcaption>Bentleigh is the epicentre of Steller's project map</figcaption></figure>The slant toward oversized apartments in suburbs which are currently in favour sees Steller log 21 projects within the Apartments.com.au Project Database which are either at Registrations &amp; Sales or Under Construction. Undoubtedly the developer has more up their sleeve as well which have yet to reach the public realm.

The sum of all Steller listings within the Apartments.com.au Project Database amounts at 781 apartments; 36 apartments per project on average, or still well under any of a handful of individual inner city's super towers under construction which carry in excess of 1,000 apartments.

Steller's success has also passed down to their architect of choice, Ewert Leaf. The South Melbourne practice sees a healthy proportion of their database listing attributed to Steller apartment projects.

Steller's increased project exposure flows from the developer's relationship with two key partners, namely APN Property Group and OCP Asia. 

In partnership with APN, the duo have cemented a development partnership which will <a href="http://apngroup.com.au/fund/apn-steller-development-fund/">develop 223 apartments over six medium density projects</a>. Insight is given by APN Property Group as to why their partnership (and by default Steller) is so successful. The manageable size of each project allows for an altogether nimble approach to development. 

<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_4.jpg" rel="gallery-all" title="Bentleigh's Vickory and Hall Street, Cheltenham"><img alt="" class="image-article-full-width-580px" height="240" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image28_4.jpg?itok=4zmu7PcS" title="Bentleigh's Vickory and Hall Street, Cheltenham" width="580"></a>

<figcaption>Bentleigh's Vickory and Hall Street, Cheltenham</figcaption></figure>Medium density projects with a fast turn around and lessened inherent risk, located in Residential Growth Zones surrounding public transport is the order of the day, and a recipe for success.

The Australian <a href="http://www.theaustralian.com.au/business/property/steller-group-gets-asian-equity-boost/news-story/35cdf02c518251a72e6b5dfbdbaa846c">reported mid this year</a> that OCP Asia as Steller's second partner will provide finance to multiple apartment developments in the pipeline; roughly $800 million worth of apartments across ­Melbourne’s south eastern ­suburbs will benefit from the agreement.

With the sheer volume of projects Steller has on the go, one thing's for sure...they will keep the Apartments.com.au Project Database ticking over for some time to come.
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