Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

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Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Hotel

Not often comes an opportunity where hotel&nbsp;and residential spaces find&nbsp;their way into one project, but one of the biggest trends sweeping the country is the mixed of both,&nbsp;catering to a new type of discerning buyer.

Development director at Riverlee, David Lee, noted growing interest for hotel residences in the Australian property market.

&ldquo;The hotel residence lifestyle has gained a lot of traction in places like New York and Asia, but there is a need for this type of home in Australia&rdquo;, Lee said.

&quot;There are various residential buildings out there with features such&nbsp;as a concierge service but hotel-branded residences, particularly those with an international focus, take it to another level,&rdquo; he added.

These mixed-use developments have become a new sector mainstay in Australia, according to Cromwell Property Group, with developers increasingly combining commercial, hotel, leisure and residential.

Urban takes a look at six of Australia&rsquo;s best mixed-use apartment and hotel developments available on the market.

1. Castle Residences, Sydney 
Developer: United Development Sydney

[smartcode_project:default project_id=7758 project_image_fid=150458]

Castle Residences is a new masterful collaboration between United Development Sydney and architects Candelapas Associates and Stud​ioAria.

Situated on Castlereagh Street, a luxurious collection of 131 residences in one, two and three-bedroom configurations are on offer in an elegant new residential tower that soars above the historic Porter House.

The heritage charms of Porter House add to the luxurious feel of the 122-room MGallery boutique hotel, which extends their five-star amenities to apartment residents.

[smartcode_project:default project_id=7758 project_image_fid=150460]

The hotel will service the residences with room service, catering, housekeeping, laundry, and maintenance, which can be accessed via a personalised mobile application.

Residents will also have full access to the hotel&rsquo;s facilities including the restaurants, bars, gym, pool, and business centre, along with 24-hour security, concierge, and valet parking.

2. Seafarers, Docklands 
Developer: Riverlee

[smartcode_project:default project_id=27728 project_image_fid=173914]

Incorporating a 280-room hotel, Docklands&rsquo; latest development, Seafarers, will feature Melbourne&rsquo;s first international hotel-branded residences, 1 Hotel &amp; Homes.

Sitting above Australia&rsquo;s first 1 Hotel, a world leading eco-luxury hotel brand, the Fender Katsalidis-designed apartments boast a limited collection of 123 riverfront residences.

The two and three-bedroom, light-filled residences offer sweeping views of Yarra River and the new Seafarers Rest Park, as well as unique five-star hotel services.

[smartcode_project:default project_id=27728 project_image_fid=173938]

These include a botanical care and maintenance services, pet care and walking, in-home room services and chef-catered dinners.

The project will transform the city&rsquo;s last remaining Yarra River frontage into a new visionary waterfront precinct, with a rooftop barbeque, library and lounge exclusively available to residents.

3. Viv&eacute;re on Dorcas, South Melbourne 
Developer: BEKL

[smartcode_project:default project_id=108979 project_image_fid=181117]

Located in an elusive pocket of South Melbourne, Viv&eacute;re boasts a new collection of 36 upscale residences delivered by BEKL, Amazon Property Group&rsquo;s Australian operation.

The project soars above the Voco Hotel, which is operated and managed by internationally renowned IHG.

Designed by Plus Architecture, the 20-storey development offers one, two and three-bedroom apartments, with a sculptural fa&ccedil;ade inspired by Melbourne&rsquo;s Botanic Gardens and Port Phillip Bay.

[smartcode_project:default project_id=108979 project_image_fid=181109]

According to director-architect Jessica Liew, the recesses presented a creative opportunity to introduce an art installation, while the capsule between the stacked elements contains the hotel rooms of Voco.

Viv&eacute;re offers residents premium room services, and a range of recreational amenities, including a gym, sociable restaurant and bar.

4. Ocean, Surfers Paradise 
Developer: Meriton

[smartcode_project:default project_id=7974 project_image_fid=185035]

Rising 76 floors against the Gold Coast skyline, Ocean is the latest mixed-use development in Surfers Paradise that will feature both luxury residential and hotel suites under the Meriton Suites brand.

Set to become the third tallest tower on the Gold Coast, Ocean will be home to an impressive 404 apartments starting from level 33, offering views that tower over neighbouring buildings.

Designed by SJB Architects, the development offers residents world-class facilities including an exclusive sky pool and gym on level 33.

Located on a prime beachfront site, it will also include a vibrant retail precinct, caf&eacute;s and a purpose-built restaurant, and a beach club podium on the fifth floor.

5. Ryrie Home, Geelong 
Developer: Franz&eacute; Developments

[smartcode_project:default project_id=5559 project_image_fid=88244]

Situated on Ryrie S​treet, Franz&eacute; Developments&rsquo; new Geelong d​evelopment will deliver a landmark Holiday Inn tower, 16 luxury apartments at Ryrie Residences, and a separate 11-storey tower, Ryrie Home.

Designed by Arch​itectus, Ryrie Home boasts an authoritative and restrained grid fa&ccedil;ade, pedestrian laneways, commercial retail, and F&amp;B spaces, as well as hotel and residential lobbies.

The collaboration with IHG Hotels &amp; Resorts will see the Geelong Quarter become a gateway to the region and delivering the largest new hotel in the region in almost 20 years.

[smartcode_project:default project_id=5559 project_image_fid=88244]

Ryr​ie Home will feature a collection of 109 one, two and three-bedroom apartments that benefit from room service, gym and pool facilities, dining, housekeeping and a business centre.

It will also feature a number of retail tenancies located on the ground level facing both Ryr​ie Street and Fenwick Street.

6. M-City, Clayton 
Developer: Schiavello

[smartcode_project:default project_id=528 project_image_fid=46022]

Designed by Buchan Group, M-City boasts spacious new residential offers in one, two and three-bedroom configurations, as well as resort-style facilities and an international hotel.

Emblazoned with a distinctive bronze fa&ccedil;ade, M-City&rsquo;s own International Hotel is set to become a new local landmark, providing understated yet luxurious accommodation for visitors.

[smartcode_project:default project_id=528 project_image_fid=46027]

Developed by Schiavello, the development is situated in the lively Clayton and provides residents with a range of function venues that offer entertaining and corporate spaces, such as meeting rooms, a ballroom, and a hotel bar.

Each apartment contains floor-to-ceiling glazing, spacious, private balconies, and luxury resort-style facilities, including a heated pool, landscaped gardens, and barbeque zones.

Mixed-use developments have become a new sector mainstay in Australia, according to Cromwell Property Group.

max.kwok_55688

Australia's best mixed-use apartment and hotel developments on the market

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For the last few years, property trends have reflected the importance of resort-style amenities and private resident facilities for investors and owner-occupiers alike.

These mixed-use developments have become a new sector mainstay in Australia, according to Cromwell Property Group, with developers increasingly combining commercial, retail, leisure and residential.

Whether you’re an eager investor or an owner-occupier who desires resort-style facilities at your doorstep, here are five apartments with 5-star hotel amenities selling in March 2021. 
 

1. Seafarers, Docklands 
Address: 731 Flinders Street, Docklands VIC 3008 
One-bedroom apartments from $825,000

[smartcode_project:default project_id=27728]

Partnering with Australia’s first 1 Hotel, Seafarers integrates luxury residences and s luxury hotel amenities, management and services.

Designed by Fender Katsalidis, the project provides countless amenities to its residents including an indoor heated pool, jacuzzi, full-service fitness centre and spa.

To complement the convenience of hotel luxuries, Riverlee offers residents private amenities, including a library, dining and lounge. 
 

2. Beyond, Hurstville 
Address: 93 Forest Road, Hurstville NSW 2220 
One-bedroom apartments from $585,000

[smartcode_project:default project_id=6798]

Fridcorp’s latest Hurstville development, Beyond, features a number of on-site amenities that match the quality of the world’s best hotels.

Facilities include an outdoor dining and teppanyaki grill, gardens, lobby bar and residents’ dining.

For health and fitness, entertaining or quiet contemplation, residents can enjoy exclusive access to Beyond’s two podium platforms, which feature barbeque and dining areas as well as a yoga and meditation retreat. 
 

3. Cabana, Palm Beach 
Address: 1 Nineteenth Avenue, Palm Beach QLD 4221 
Three-bedroom apartments from $2,325,000

[smartcode_project:default project_id=84861]

Delivered by Ignite Projects, Cabana offers the best in luxury resort-style living.

The island-like oasis is located across from the recently completed Palm Beach artificial reef and includes its own private beach club.

A key feature of the development’s design, the private beach club includes day beds on and off the water, beachfront and poolside cabanas. 
 

4. Melbourne Grand, Melbourne 
Address: 560 Lonsdale Street, Melbourne VIC 3000 
One-bedroom apartments from $489,000

[smartcode_project:default project_id=3490]

With an entire tenth floor dedicated to resort-style facilities, Central Equity’s Melbourne Grand offers an outstanding living experience rising 58-storeys above the CBD.

Designed by Guildford Bell and Graham Fisher Architects, the development features an indoor pool, gym and yoga studio, residents’ lounge and 17-seat luxe theatre.

A coffee bar and banquet room also provide the ideal setting for entertaining family or friends. 
 

5. Grand Central Towers, Phillip 
Address: 15 Bowes Street, Phillip ACT 2606 
Apartment prices available at request

[smartcode_project:default project_id=7660]

Inspired by New York’s Grand Central Station, Geocon Group’s Grand Central Towers delivers a breathtaking balance of hotel-style luxury and amenity.

Designed by Cox Architecture, the project includes an infinity pool, gym, residents’ dining room, lounge and library.

A rooftop retreat with reflection pond, secure resident parking, car wash and bike workshop are among its other features.
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Mixed-use developments have become a new sector mainstay in Australia with developers increasingly combining commercial, retail, leisure and residential

Urban's top 5 apartments with 5-star hotel amenities selling in March 2021

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The freehold of the Golden Sheaf Hotel at Double Bay has been listed for sale with offers due 6 November.
The Golden Sheaf Hotel occupies a strategic underdeveloped site area totaling 1,669 square metres.
JLL and CBRE Hotels have been appointed on the property which is being offered subject to leaseback to the hotel and hospitality group, Solotel.
The hotel will be offered with a combined 40 year triple net lease to one of the Solotel Group businesses, with a straight 20 year first term and fixed annual rental growth of 3% per annum. 
The Solotel group own and or operate 17 hotels and three restaurants across the eastern seaboard.
Brice Solomon's Soletel listed the <a href="/news/nsw/double-bays-sheaf-comes-with-golden-expectations">entire </a><a href="/news/nsw/double-bays-sheaf-comes-with-golden-expectations">Sydney eastern suburbs watering hole with $80-million-plus hopes in 2011</a>.
The Australian Financial Review suggests $40 million plus commanding a yield in the mid 6% range.
 
The heritage-listed 1936 pub was bought for $5,327,000 in 1991. 
Its New South Head Road premises was expanded after $4.8 million was spent in 2006 with purchase of the adjacent George's restaurant from Leo Varvaritis. The refurbished hotel and rear beer garden was launched in 2009.
 
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jchancellor-FAypfDUnLy

Double Bay's Golden Sheaf Hotel returns to market as freehold only

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Multiplex has completed M&amp;L Hospitality’s redevelopment of 161 Sussex Street in Sydney's Darling Harbour.
The former Four Points by Sheraton Sydney was rebranded earlier this year to Hyatt Regency Sydney, marking the Hyatt Regency’s return to Sydney.
The redevelopment included refurbishment of the existing hotel; the construction of a new 3,667 square metre convention centre; and a 25-level tower including 13 new hotel levels and 10 levels of A-grade high rise commercial office space.
The additional 25-storey tower has added 222 new guest rooms to what was already Australia’s largest hotel, bringing the total number of rooms to 892.
David Ghannoum, regional managing director at Multiplex said the challenges involved building over an operating freeway and in a live hotel environment.
A significant amount of construction took place over the top of the Western Distributor Freeway, a major feeder road from the Sydney CBD to the Sydney Harbour Bridge.
Construction was completed with minimal disruption to the 80,000 vehicles using the Western Distributor daily and the 600-700 guests staying at the hotel each night.
Work commenced in December, 2014 and spanned a two year period.
The project generated approximately 2,250 jobs during construction.
Construction saw some 11,500 cubic metres of concrete poured and 635 tonnes of steel installed to create the building’s structure, and over 1,388 glass panels installed to form the hotel’s façade.
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j.ballantyne1990-6AQqhLzZaK

Darling Harbour sees return of Hyatt Regency to Sydney

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<div class="page" title="Page 1">Manenti Quinlan &amp; Associates, in conjunction with John Hannigan Real Estate Services have announced the sale of the Rous Hotel, Lismore on behalf of the Bulmer family who have owned the hotel for over 20 years.</div>
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While the sale was looming earlier this year, the complications of the COVID-19 lock down required careful navigation.
The hotel occupies a prominent 1,745 sqm corner site and offers a Main Bar area, Bistro/Café Rous, Gaming Lounge with 12 devices, Enclosed Beer Garden and Large Carpark. On the first level, the Hotel offers “Reels Bar” Cocktail and Lounge Bar and a 2-bedroom fully self-contained Manager’s Residence.
After closing the Drive-Through Bottle Shop in April 2018, hotel trade was strategically repositioned to take advantage of growing function trade, with the old bottle shop space converted into “The Greenery” function area.
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Lismore City is located in the Northern Rivers Region of New South Wales, about 730 km north of the Sydney CBD, 47 km south-west of Byron Bay and 35 km west of Ballina.
Leonard Bongiovanni of Manenti Quinlan and Associates stated, “While we continue to field numerous enquiries for hotels in strong regional areas, the sale of the Rous Hotel demonstrates the continued appetite for these premium assets. Under the new ownership, the hotel is poised to be a local icon for many years to come”.
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Bulmer family's Rous Hotel in Lismore sold

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The Ultimo Hotel, currently operated by Rydges Hotels Limited, has hit the market with sales expectations exceeding $100 million.
The 1,584 square metre property, which includes the 4-star rated boutique hotel, comprising 95 guest rooms, and ten retail tenancies, is being traded through Savills Australia.
Under a hotel management agreement, Rydges will continue to operate the hotel for the next three years unless a termination without cause provision is invoked with an 18-month notice.
Candidates have the option of continuing management with Rydges following the cessation of the five-year agreement.
The site offers one basement level tenancy plus nine high exposure ground level tenancies with current tenants including NAB, 7-Eleven, D1 Karaoke Sydney, No.1 Malatown, Dodee Paidang and Bancho Bar.
The building was converted to the current hotel in 1988 and subsequently renovated in 2016.
An additional 13 storey increase is possible subject to council approval (STCA), in addition to re-leasing the retail tenancies as expiries arise or strata subdivide the retail space and sell off individually
“The chance of one of these island sites coming to market is extremely rare in Sydney, especially in the Southern CBD,” said Savills director Stuart Cox.
Directly opposite Market City, The Ultimo is within close proximity to neighbouring landmarks, including Darling Harbour precinct, Capitol Theatre and the International Convention Centre.
Public transport is readily available in the form of rail, light rail and bus services, approximately 150 metres from the site.
The property is offered for sale via an International Expressions of Interest campaign closing September 24.
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The Ultimo Hotel listed with $100 million plus expectations

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Melbourne-based property developer BEKL has announced its appointment of IHG’s new upscale brand voco as the chosen operator of its new hotel.
Voco South Melbourne is scheduled to open in 2023.
The hotel, due to be built at the northern end of St Kilda Road on Dorcas Street, will offer guests a selection of 171 well-appointed rooms, designed around a ‘Me Time’ concept, along with sprawling restaurant and bar spaces, four meeting spaces and a gym.
“We pride ourselves on creating quality, innovative, long-standing spaces that place an emphasis on the human experience, so it was important to us that our partners share that same vision and passion for what we are trying to achieve,” said BEKL Managing Director, Katherine Liu.
The hotel will look to form part of a larger mixed-use project which, if given the green light, will comprise 36 apartments and 2,293 square metres of office space.
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Voco announced as operator for BEKL's new Melbourne hotel

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Pro-invest’s newest hotel development, the Holiday Inn Express Melbourne Southbank, launched in early February. 
It will delivery a 25 per cent reduction in energy usage compared to other typical city hotels.
In its first investment in the hotel sector, the Clean Energy Finance Corporation partnered with Pro-invest to enable the Southbank project to substantially cut its energy use and achieve a 5-star energy rating under the National Australian Built Environment Rating System (NABERS)*.
 With a contribution of about $40 million construction and term debt facility to the asset’s overall finance structure, Pro-invest lifted the design standard for the project, enabling the Melbourne Southbank hotel to target the 5-star NABERS energy rating.
It aims to be the first hotel in Australia to achieve a 5-star rated NABERS energy rating.
To help achieve the 5-star rating, the Holiday Inn Express has incorporated high-performance glazing, high-efficiency air-cooled chillers and condensing boilers and solar photovoltaic systems on the roof into the hotel development.
Other initiatives include regenerative lift drives rather than standard lift motors which will enable the hotel to recycle energy, and integrated building management and guestroom energy management systems to both monitor and drive building performance.
The CEFC investment has been used to effectively lift the project from the original target of a 4.5 star rating to a 5-star NABERS rating - producing a hotel energy consumption saving of about 25 per cent. 
Even fittings such as carpets have been selected for their environmental sustainability, with Interface flooring delivering 100% carbon neutral carpets for the hotel.  
The Melbourne hotel will build on Holiday Inn Express’ commitment to reduce use of disposable plastics – which has already seen the phasing-out of plastic straws and water bottles – by being the first Holiday Inn Express in Australia to replace miniature bathroom amenities with larger, more sustainable options. 
The new dispensers, containing high-quality shampoo, conditioner and soaps, will be introduced into the hotel from mid-year and then across the Australian Holiday Inn Express network over the rest of the year. The initiative has the potential of reducing plastic waste by over 20,000 bottles per year, per hotel.  
The City Road project features a 22-storey mixed-use development consisting of a 345-room hotel, 370m2 retail space, 4,500m2 of commercial space and car parking. 
Holiday Inn Express Melbourne Southbank is the first Holiday Inn Express hotel to open in Melbourne, and fifth in Australia, joining properties in Brisbane, Adelaide, Newcastle and Sydney’s Macquarie Park. Pro-invest is developing new Holiday Inn Express hotels in Sydney Airport and <a href="https://www.hotelmanagement.com.au/2017/04/12/pro-invest-group-develop-new-queenstown-hotel/" target="_blank" data-auth="NotApplicable">Queenstown</a> (2020), Melbourne (Little Collins Street), Sunshine Coast and Auckland (2021), Parramatta (2022) and a voco hotel in Auckland (2021).
This will grow Pro-invest’s hotel portfolio to a total of 12 hotels and 2864 rooms.
<img src="https://www.urban.com.au/images/2020/2/5/Holiday%20Inn%20Express%20Melbourne%20Southbank%20porte%20cochere.jpeg" alt="">
Pro-invest has financed and developed the Melbourne hotel, and operates all Holiday Inn Express hotels in Australia under a master franchise agreement with the IHG hotel group.  
Pro-Invest Group CEO, Ronald Barrott, said the group’s commitment to the highest levels of sustainability was driven by the opportunity to work with CEFC to establish a template for environmentally-sensitive urban hotels and also as a strong response from both investors and travellers calling for more sustainable industry initiatives.
“Our partnership with the Clean Energy Finance Corporation will see the Southbank hotel and all our future new-build hotels complying with strict energy-saving initiatives to ensure attainment of a 5-Star NABERS energy rating,” said Mr Barrott. 
“By its very nature, the hotel industry is a high energy user, with the <a href="https://www.cisl.cam.ac.uk/" target="_blank" data-auth="NotApplicable">Cambridge Institute for Sustainability Leadership</a> estimating that tourism contributes about 5% of global greenhouse gas emissions.  It’s important for new hotels to invest in energy efficiency design and construction and incorporate state-of-the-art environmental measures across the full-operation of the hotel. 
<img src="https://www.urban.com.au/images/2020/2/5/Holiday%20Inn%20Express%20Melbourne%20Southbank%20winter%20garden.jpeg" alt="">
“A 25% reduction in energy-use pays both environmental and economic dividends. It certainly requires greater investment, but in the long-term we are very confident that the measures will increase the overall value of the property. In fact, given that a recent survey indicated that sustainability was the most important factor for 52% of consumers when selecting a hotel, we believe our initiative can become a significant competitive advantage for the property and the brand.
“Investors are also increasingly demanding that hotel projects incorporate premium sustainability and energy-efficiency initiatives into development projects, and this has been reflected in CEFC’s additional investment of $50 million in the Pro-invest Australian Hospitality Opportunity Fund II – Australia’s first hospitality real estate fund to integrate energy sustainability in its investment criteria.”
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Holiday Inn Express Melbourne Southbank is Australia's first 5 star NABERS energy rated hotel

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Quest Apartment Hotels’ property in Orange has officially opened its doors, adding 77 serviced apartments to the Central West region.
The complex is located on Kite Street.
Quest Orange is franchised by Amy Van De Ven who was awarded this year’s rising star award by Hotel Management Magazine. 
David Ridgeway, General Manager – Franchise Operations at Quest Apartment Hotels, said, “Orange is one of the state’s fastest-growing regional centres with high levels of investment in healthcare, mining and public infrastructure attracting professionals from across Australia.”
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“The town’s natural and historic sites continue to attract tourists, so we’re happy to service visitors with our premium range of serviced apartments,” David said.
Developed by Saran Engineers and Managers, Quest Orange contains a mix of studio, one, two and three bedroom apartments. 
The property also features a gymnasium, conference facilities, car parking, breakfast options and local restaurant chargebacks. 
 
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Quest Apartment Hotels' in Orange opens its doors

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Hotel mogul Jerry Schwartz has bought the Paradise Resort for $43 million from the abandoned Ralan empire.
It is $32 million less than what the Ralan Group purchased it for in 2015.
Ralan paid $75 million for the hotel and had plans to bulldoze the resort for three towers of Ruby apartments, until they went into administration in August 2019.
Dr Schwartz indicated that a major refurbishment program would be introduced for the 360-room hotel (picture provided by Schwartz Family Company)
“I know that previous owners planned to knock down the resort and redevelop it for apartments, but we believe there is tremendous demand for quality family-friendly resorts, especially in such prime locations as Surfers Paradise,” he added.
The Schwartz Family Company also acquired the Hilton Surfers Paradise for $70 million earlier in the year.
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