Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Light House

<html><body>
The first of the 'CBD Four' officially marked its beginning of construction yesterday as Probuild now controls the site that will become Victoria One, a 241 metre residential tower spanning 75 levels. Joining Victoria One shortly will be three additional residential towers which will complete the 'CBD Four' as Apartments.com.au has dubbed them.

All four developments are the swift work of Asian-backed local property developers and lead a new wave of high-rise residential towers sweeping through inner Melbourne. Incidentally the four are all the handy work of local design firm Elenberg Fraser, reflecting the dominant position they hold within the market.

<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/onetower_architecture_gallery_3.jpg" rel="gallery-all" title="Staking its place. image courtesy victoria-one.com.au"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/onetower_architecture_gallery_3.jpg?itok=YQKA5ty2" title="Staking its place. image courtesy victoria-one.com.au" width="580"></a>

<figcaption>Staking its place. image courtesy victoria-one.com.au</figcaption></figure>Due for completion late 2017, Victoria One is Golden Age Group’s largest project to date and is slated to be the tallest residential tower within Melbourne's CBD upon completion. 95% of the tower's available 629 apartments have been sold within the project which is valued at $350 million.

Located on the corner of Elizabeth and Franklin Streets in Melbourne, Victoria One will be highly visible upon completion owing to its distinctive green facade and vertical metallic fins which will catch and cast sunlight at different points of the day. Designed to mimic Victoria’s famous landscapes, "The fluid façade appears soft and yielding like the local parks, oceans and rivers. Green glazing with gold highlights gives a botanic feel" as described on the Elenberg Fraser website.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2712.jpg" rel="gallery-all" title="The now closed display suite living on borrowed time"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/img_2712.jpg?itok=hhf1evGz" title="The now closed display suite living on borrowed time" width="580"></a>

<figcaption>The now closed display suite living on borrowed time</figcaption></figure><h2>What they say</h2>

<blockquote>
The market is buoyant, but I believe in still being cautious and building apartments that are aspirational and of high quality – these types of projects will find buyers in any market.

We are pleased to be working with Probuild, a company that shares our commitment to quality and speed. They are a group that has emerged as a leader in high density residential construction in Melbourne and will bring strong local expertise to this project.
<cite>Jeff Xu, Golden Age Group founder</cite>
</blockquote>

<blockquote>
You don’t get an opportunity to build the tallest building in a city every day. To have the opportunity to deliver a building that will change Melbourne’s skyline is an exciting prospect.

There is definitely incredible growth in high-rise apartment living that we haven’t seen in our 27 plus years in Melbourne. It signals a change in people’s desire to live closer to the city. People are pushing through that psychological barrier that says we need a home and land. Victoria One represents this change in thinking as well as a change in dynamic as younger generations embrace city living over the traditional great Australian dream of a quarter acre block.
<cite>Dean Lockhart, Victorian managing director Probuild</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image18.jpg" rel="gallery-all" title="An Elenberg Fraser role call"><img alt="" class="image-article-full-width-580px" height="227" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image18.jpg?itok=VXusQzcW" title="An Elenberg Fraser role call" width="580"></a>

<figcaption>An Elenberg Fraser role call</figcaption></figure>Some readers will know that one of the CBD Four, Tower Melbourne, began demolition in excess of a year ago only for CEL Australia to be mired down in legal wrangling with a fellow Singaporean developer controlling the adjoining site. With that matter now settled Tower Melbourne is expected to begin demolition once more shortly.

Of the others ICD Property's EQ. Tower is 100% sold while a handful of apartments remain in Hengyi's Light House Melbourne, directly opposite Victoria One. Demolition on the latter two is also expected to start prior to years end allowing for all four to rise simultaneously over the course of the next two to three years, while injecting in the vicinity of 2420 apartments into Melbourne's CBD upon completion.

Come 2017, the CBD will look immensely different and Victoria One will be leading the charge.
</body></html>

silvermb

Victoria One - First of the 'CBD four' begins construction

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It is always a worthwhile exercise in gleaning the opinions of others, more so when the person in question represents a growing wave of non-resident apartment buyers seeking to claim a slice of the Melbourne residential market.

Urban.com.au had the opportunity to pose a number of questions to Light House purchaser and Melbourne semi-resident, Raymond Wei.

In this vox pop of sorts we began by asking the question perhaps most pertinent: would you describe yourself as an investor or an owner-occupier?

RW: I view myself as an owner, I won't be using my apartment year-round but when I'm in Melbourne it is my residence.

MB: Melbourne's skyline is always changing with new projects appearing; were views a consideration when you purchased or merely a benefit?

RW: Everyone would choose sunlight and views if they had the choice. I know Melbourne is changing quickly so views will change but I appreciate direct sunlight and not living in the shadow all the time. Light House will give me both.

MB: What attracted to you the development, in terms of location and design?

RW: I know what Melbourne can be like with its weather, so I was impressed with the winter garden designed into the apartment; it creates a really comfortable residential environment and gives me another usable space when I want it.

The location is great, I have the market and shops a few minutes away.

<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/lhintimage.jpg" rel="gallery-all" title="Light House Melbourne's dining room"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhintimage.jpg?itok=vErr877q" title="Light House Melbourne's dining room" width="580"></a>

<figcaption>Light House Melbourne's dining room</figcaption></figure>MB: How important was the interior design of the living spaces when considering your purchase?

RW: Very important as I will end up living in the apartment. Some people don't care so much, as they are just investors looking to buy an investment property. With Light House I looked at the quality of the living spaces plus I was impressed with the amount of natural light available.

MB: Would you use the communal facilities at Light House (e.g. the sanctuary spa and the entertainment lounge)?

RW: Yes, I will use all of them whilst living in Melbourne. Sometimes you want to get out of your house but not necessarily go outside - maybe the weather's not so good or so on - and the facilities allow me break my routine. I get to relax, work or socialise in quality spaces.

MB: Is a car park important or just an afterthought when living in the CBD?

RW: I require a car when in Melbourne, so absolutely parking becomes extremely important. It takes away all the headache of trying to find street parking in a city where they're not easy to find. It's certainly cheaper than getting charged hefty fees at public car park.

MB: As for the world's most livable city, what do you find attractive about living in Melbourne?

RW: Living in the city brings a lot of convenience. I'm within walking distance to major shopping centres, Victoria Market and many other attractions that local residents take as part of everyday life.

I really like the culturally diversified lifestyle, events, mixed cuisines and restaurants plus the varied festivals... Melbourne has a lot to offer in a concentrated area.
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The rhyme and reason for buying in Melbourne 

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I like many others was surprised and impressed when Hengyi Australia announced recently that it had reached sales of 75% for its Light House project on Elizabeth Street. I had also incorrectly made the assumption that the majority of sales to date were to offshore investors, and that Hengyi Australia was merely another of the throng of Asian property developers keen to absorb robust demand for Melbourne apartments.

Following a recent chat with Hengyi's Head of Marketing &amp; Business Development, Stephen Speer, an new impression was born of a Chinese-backed, yet distinctly Melbourne-based developer intent on achieving great things within the local context.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/IMG_5957.jpg" rel="gallery-all" title="The William nearing construction completion"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/IMG_5957.jpg?itok=GqlXcUW4" title="The William nearing construction completion" width="580"></a>
<figcaption>The William nearing construction completion</figcaption></figure>Hengyi's initial Bruce Henderson-designed project at 199 William Street is well into construction as seen above, with remaining apartments on offer for sale exclusively within the local market. The rebirthed office complex which will include a Wyndham Hotel upon completion is scheduled to open its doors within months, and Apartments.com.au may just be first through the door to have a look around.

Light House is the flagship project for Hengyi Australia. The size, eye-catching design and methodology behind Light House at 450 Elizabeth Street have ensured the projects success and ingratiated Hengyi to many locally.

<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/lhd02.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhd02.jpg?itok=_d7QKptv" width="580"></a>
<figcaption> </figcaption></figure>Once the initial partnership was forged with co-developer Sixth Grange, the numbers for Light House were adjusted resulting in a taller proposal which gained approval from Planning Minister Matthew Guy. Thereafter a local retail sales campaign was launched in unison with five investor roadshows through Southeast Asia with Malaysia proving to be the highest yielding stop.

Overall sales for the 607 apartments within Light House now stand beyond 80%, and of those roughly 60% have been to Australian buyers. Sales have been strong over all available layouts with a proportionately healthy percentage of apartments carrying three bedrooms, a result of Hengyi adjusting to local market desires.

Rather than utilising parent company Shandong HYI's resources, local institutions have financed the construction of Light House with demolition slated to begin during September. Piling and associated works will ensue over some months, resulting in the first signs of the tower's skyward movement during 2015. Construction is due for completion early 2017.

<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/lhd01.jpg" rel="gallery-all" title="450 Elizabeth Street display suite"><img alt="" class="image-article-full-width-580px" height="368" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhd01.jpg?itok=6TJNRFkc" title="450 Elizabeth Street display suite" width="580"></a>
<figcaption>450 Elizabeth Street display suite</figcaption></figure>Asked what is next on the back of Light House's success, Stephen Speer suggests Australia is Hengyi's oyster. Given the right project specific dynamics or joint-venture partner, the firm would develop anywhere based upon the opportunity presented. Melbourne, Sydney, Brisbane, Adelaide and Darwin were nominated as potential cities, depending upon the opportunities that arise.

Hengyi Australia have hit the ground running, one can only wonder what the firm has in store next?
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Hengyi Australia makes itself at home

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When it rains, it pours! No not a reference to the dismal weather at the moment, but the continuing surge in new apartment project releases Melbourne is experiencing.

Sure to be one of 2014's marquee releases, Light House Melbourne is the assigned moniker to one of this city's more unique apartment projects. 450 Elizabeth Street first gained approval during 2012 on behalf of site owner Sixth Grange Pty Ltd for a 62 level, 197 metre tower carrying 541 apartments.

Subsequently project partner Hengyi Australia was added and during February 2014 consent was received to extend the tower beyond the approved scheme seen below. Melbourne City Council now lists the project at 67 levels and 218 metres, although Colliers via their statement below have the tower at 69 levels of undulating edifice.

<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/11038_450_ElizabethStreet_Apartments_01.jpg" rel="gallery-all" title="Image © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="511" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/11038_450_ElizabethStreet_Apartments_01.jpg?itok=DJxOGzH1" title="Image © Elenberg Fraser" width="580"></a>

<figcaption>Image © Elenberg Fraser</figcaption></figure><blockquote>
Apartment living redefined by a kaleidoscope of possibility, with its shimmering, striking exterior Light House is certain to become a hero of the Melbourne skyline. This unique building has a sculptural presence, rising an impressive sixty-nine stories. Within each of these exterior facets is an exceptional bay window, increasing the light and space in every residential apartment to witness the lively streetscapes below and enjoy the sense of community in this bustling part of the city.
<cite>Colliers International (Selling Agent)</cite>
</blockquote>

<blockquote>
Appearing to turn on its trajectory, the building has no corners. How do you dissolve the corners of a skyscraper when that is where all sheer forces are normally resolved? Well, we discovered the answer lies in traditional masonry techniques for turning corners using bricks.

This three-dimensional kaleidoscope not only twists and undulates on its axis but its façade is a moving object. The effect of constant motion is amplified by the multi-chromic directional paint system applied to the surface, which reflects and draws the building up into the sky. You may have seen this paint effect on cars before, but never on a building!
<cite>Elenberg Fraser (Architect)</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ef450eliz.jpg" rel="gallery-all" title="A distinctive facade. Image © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="374" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/ef450eliz.jpg?itok=eceF2KK9" title="A distinctive facade. Image © Elenberg Fraser" width="580"></a>

<figcaption>A distinctive facade. Image © Elenberg Fraser</figcaption></figure><blockquote>
This supermodel of a building also needed to battle the slenderness ratio – the rule that governs how tall and thin buildings can go. It overcomes this constraint by virtually becoming a vertical cantilever with a series of outrigger beams to prevent it from overturning, and to stop it rotating along with the façade system. The series of rotational units are a series of bay windows for the apartments, which pick out different vistas of city as the façade crinkles.
<cite>Elenberg Fraser (Architect)</cite>
</blockquote>

Joining Light House Melbourne in the immediate vicinity are the soon to be released <a href="http://empiremelbourne.com.au/" target="_blank">Empire Melbourne</a>, <a href="http://www.victoriaoneapartments.com.au/" target="_blank">Victoria One</a> and the at sales <a href="http://www.eqtower.com/#" target="_blank">Eq. Tower</a>.

Registration of interest for Light House Melbourne are open via the project website http://www.lighthousemelbourne.com.au/
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Light my way - 450 Elizabeth Street

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It is that time again when Apartments.com.au takes a look into the vast depths of our <a href="/developments">project database</a> and this month we select the Top 5 from the projects currently approved.

<h2>5. The Altus, <a href="/new-apartments/docklands-vic-3008">238 Harbour Esplanade, Docklands</a>
</h2>

Why do we like this? Besides the fact that if built it will be one of the tallest towers in Docklands and most certainly the tallest in Digital Harbour, the design will complement the curves and glass of <a href="/developers/mab-corporation">MAB Corp's</a> <a href="/buildings/the-quays-231-harbour-esplanade-docklands">The Quays</a> to the west located in NewQuay and also provide a landmark structure for the Footscray Road gateway into Docklands. Furthermore, the Altus will include a 4.5 star Sheraton Four Points hotel when completed.

<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/Altus.jpg" rel="gallery-all" title="The Altus © BellaCharlton"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/Altus.jpg?itok=A2O1v-OU" title="The Altus © BellaCharlton" typeof="Image"></a>

<h2>4. Rawhouse, <a href="/new-apartments/fitzroy-vic-3065">97-99 Rose Street, Fitzroy</a>
</h2>

Why do we like this? From the team that have brought us <a href="/new-apartments/mesh-apartments-8-florence-street-brunswick">The Commons</a> comes <a href="/news/two-thumbs-up">Rawhouse</a> which if built, will incorporate similar architectural and sustainability features as its predecessor. Even though it is a relatively small development only housing a total of 12 apartments, Rawhouse also features an open stair well, a concrete and timber facade which will be recycled where possible and will have no car parking due to its close proximity to amenity and services. Also being located in <a href="/new-apartments/fitzroy-vic-3065">Fitzroy</a> just behind the Veggie Bar, the concept of this building will certainly appeal to those that want to live in this area and with only 12 of these babies available, they will surely be sold in a flash.

<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/raw.jpg" rel="gallery-all" title="Rawhouse © Breathe Architecture"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/raw.jpg?itok=6KH3lO73" title="Rawhouse © Breathe Architecture" typeof="Image"></a>

<h2>3. 9-11 Caravel Lane, Caroline Springs</h2>

Why do we like this? We like this because it is a multi-storey island in a sea of suburbia! Along with <a href="/buildings/135-the-esplanade-caroline-springs">Cascada</a> situated just down the road, these apartments set a good example of apartment living in a non traditional setting. If we also consider that the <a href="/buildings/135-the-esplanade-caroline-springs">Regional Rail Link</a> is being constructed and will pass nearby to Caroline Springs, the public transport service starved outer suburbs may see the light yet.

<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/MA-Caravel-Ln-01.jpg" rel="gallery-all" title="9-11 Caravel Lane © Metaxas Architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/MA-Caravel-Ln-01.jpg?itok=qSLGMNtC" title="9-11 Caravel Lane © Metaxas Architects" typeof="Image"></a>

<h2>2. <a href="/buildings/marina-tower-6-pearl-river-road-docklands">6-22 Pearl River Road, NewQuay</a>
</h2>

Why do we like this? This building designed by <a href="/architects/dko-architecture">dko Architecture</a> has the potential to become an iconic building for NewQuay, Docklands and Melbourne. The leaning, protruding structure provides a striking silhouette and would also provide fantastic waterfront views for those lucky enough to live in the building. In July 2013, MAB Corp sold off the site to the prominent Singaporean developer <a href="/developers/hiap-hoe">Hiap Hoe</a> which has hit the ground running in their first foray into the Australian property realm reportedly wanting to start construction immediately! Great enthusiasm!

<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/DKO.jpg" rel="gallery-all" title="6-22 Pearl River Road, NewQuay © dko Architecture"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/DKO.jpg?itok=gVJr2MQ4" title="6-22 Pearl River Road, NewQuay © dko Architecture" typeof="Image"></a>

<h2>1. <a href="/buildings/light-house-450-elizabeth-street-melbourne">450 Elizabeth Street, Melbourne</a>
</h2>

Why do we like this? An <a href="/architects/fraser-partners-0">Elenberg Fraser</a> cracker! This 62 level tower is just shy of the 200 metre mark features a fantastic folding facade that creates a visually striking wave effect from the lower levels and all the way to the top. Hopefully we will see this tower move through to registrations and sales in the near future!

<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/11038_450_Elizabeth_Street_Elenberg%20fraser.jpg" rel="gallery-all" title="450 Elizabeth Street, Melbourne © Elenberg Fraser"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/11038_450_Elizabeth_Street_Elenberg%20fraser.jpg?itok=1HI0mNya" title="450 Elizabeth Street, Melbourne © Elenberg Fraser" typeof="Image"></a>

Do you agree with our list? Tell us what you think.
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