Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Market Insights

In a recent interview between Urban CEO Mike Bird and Alex Adams, Head of Sales and Marketing at Aqualand, the progress of the Aura development was discussed, shedding light on its unique features and the current real estate market in Sydney.

&lt;p&gt;&lt;iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/qMBCf5H49xs?si=a2pqfBvO9fepFE78" title="YouTube video player" width="560"&gt;&lt;/iframe&gt;&lt;/p&gt;

[smartcode_project_cta:default project_id=30959]

Unveiling Aura's Unique Design and Progress 
Situated just across the road from the Aura development, the interview began with a glimpse of the progress made. Adams shared that Aura, visually appearing as four interconnected buildings, is actually a single structure with 28 levels. The design, akin to four interconnected pedals, showcases the innovative approach Aqualand has taken.

Sales and marketing for Aura have seen tremendous success, despite the challenges in the general market. Adams attributed this success to a combination of luck and effective marketing strategies, putting the project on track to achieve the remarkable milestone of $500 million.

[smartcode_project:default project_id=30959 project_image_fid=218005]

Sydney's Resilience in the Real Estate Market 
Adams expressed his confidence in Sydney leading the real estate market's resurgence, noting that the city is emerging from what he humorously referred to as a "funny period." The market's recovery, driven by strategic marketing and client engagement, reflects a positive trend for Aura.

Targeted Buyers and Demographics 
The types of buyers for Aura have remained consistent over time, primarily local downsizers, young professionals, and upsizers from the lower North Shore area. Adams highlighted the unexpected interest from Pymble and Lindfield, showcasing the project's broad appeal.

The Impact of Previous Projects 
Adams discussed the influence of Aqualand's completed projects, particularly Blue at Lavender Bay and Revy. These completed projects not only serve as brand recognition but also act as tangible examples for potential buyers. The confidence gained from showcasing completed developments has been a key factor in attracting interest in Aura.

[smartcode_project:default project_id=30959 project_image_fid=202656]

Building Confidence Through Transparency 
The discussion touched on Aqualand's commitment to transparency, a critical aspect often lacking in the real estate market. Adams emphasized the importance of showcasing construction progress through visual updates and detailed quarterly videos. This commitment to transparency aims to build trust and confidence among potential buyers.

Key Buyer Concerns: Quality, Size, and Location 
Adams identified the top three concerns of potential buyers: quality, size, and location. Quality, referring to the construction and finishes, takes precedence. Size became a crucial focus for Aura, with a deliberate effort to provide larger apartments, responding to the evolving needs of the local market. Lastly, the proximity to the Victoria Cross Metro station and the array of amenities within the building contribute to Aura's appeal.

A Unique Approach to Amenities 
Aura offers a distinctive range of amenities, including an underground pool inspired by Turkish baths, a wellness center, a gym in collaboration with Technogym, and a five-star concierge service. The Sky Deck on level 26 provides residents with breathtaking views, making it a unique and coveted space within the development.

[smartcode_project:default project_id=30959 project_image_fid=202655]

Black Key Subscription Service 
A standout feature of Aura is the Black Key subscription service, offering a level of service comparable to the prestigious AMEX Black Card. This exclusive service includes personalized assistance for events, last-minute dining requests, and access to the Sky Deck, adding an extra layer of luxury to Aura living.

Aqualand's Aura stands out not only for its innovative design and construction progress but also for its commitment to transparency and meeting the evolving needs of the real estate market in Sydney. The collaboration between Urban and Aqualand reflects a shared commitment to delivering exceptional projects that inspire confidence in buyers.

[smartcode_project_cta:default project_id=30959]

In a recent interview between Urban CEO Mike Bird and Alex Adams, Head of Sales and Marketing at Aqualand, the progress of the Aura development was discussed, shedding light on its unique features and the current real estate market in Sydney.

Michael Bird

How Aqualand have quickly developed their brand in Sydney's luxury market with Alex Adams

The age old adage is that the apple doesn't fall far from the tree.

That's the case at <a href="/developers/central-element">Central Element</a> (CE), the family-ran apartment developer who are venturing into the "ultra-luxury" in some of Sydney's best suburbs.

In the last few months they've announced development approval for the redevelopment of the <a href="/news/nsw/central-element-green-lit-for-coogees-ballamac-house-apartment-redevelopment">1860s Ballamac House in Coogee</a>, and an architecturally significant building on Hyde Park, while they also secured an <a href="/news/nsw/central-element-secure-prized-bondi-beach-site-for-new-apartment-development">arguably unrepeatable site in Bondi Beach</a>.

The three developments are likely to set not only new benchmarks for the suburb, but also for CE.

<a href="/developers/central-element">Central Element</a> Managing Director Nathan Chivas says&nbsp;setting new benchmarks in property development has been in Central Element’s DNA for decades.

"It was something my father always did in his development days," Chivas says. "Since founding <a href="/developers/central-element">Central Element</a> in 2011, we've continued to evolve every year we've operated, and now we're moving into what we're calling the 'ultra-luxury phase'."

Chivas says they only want to develop in the best locations. But with that, you need to create an A-grade product.

“If you find a location and create A-grade product that matches that location, then you know you’ll have strong demand no matter where the property cycle is at,” Chivas says.

"In this end of the market, you really need to bring a story to life, whether it's through brining in heritage or other luxury design elements. Ultimately these types of developments need to be a cut above the rest. They need to be more than an apartment in a great location. The money demanded by these projects, and the buyers of the projects, demand nothing less. That extra layer of detailed design and amenity is warranted for locations like Coogee and Bondi."

<img alt="CE Bondi" data-entity-type="file" data-entity-uuid="369c8542-743e-4154-96f0-ac28e77553b2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/CE%20Bodi.png?VersionId=l0SrfrPwkbTmHiL2PXHeQWeimU7DNxoG" />The Sandridge &amp; Wilga St site in Bondi. Image supplied

Chivas says the Hyde Park project at 271 Elizabeth Street will also be a step above what has ever been created in that area.

"They'll be some of the largest apartments Hyde Park has seen," Chivas says. "Not many other developments will be delivering house-like proportion residences like these. There's so little opportunity to build on Hyde Park, there's literally four streets, the majority of which is government-owned, so when you get that opportunity, you expect to never have one again in your lifetime, so you really have to push the boundaries to create something that will last."

It will suit those who want house-size city living, and demand for that kind of product far outstrips supply, Chivas says.

The mixed-use project, being developed in collaboration with equity partner MaxCap and the current landowner, will be designed by the renowned architects Murcutt&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;and will home just 42 apartments across 14 levels, above&nbsp;hospitality spaces.

It will be the first time architecture legend&nbsp;Glenn Murcutt and Angelo&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;will work together on a project for the&nbsp;<a href="/developments/sydney-nsw">City of Sydney</a>.

<img alt="Hyde Park" data-entity-type="file" data-entity-uuid="c73dece3-cf4e-432a-a57f-04916aec9567" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.45.39%20am.png?VersionId=KTwQ1xCGqorv8NMYT_0N6PSBETA2CH7j" />The approved plans for 271 Elizabeth Street. Image supplied

These high end products don't often require traditional marketing methods, Chivas says.

"It's not like a typical on market campaign, the nature of the product bring with it a level of discreetness," Chivas says. There's already a handful of prospective buyers lining up that want to be a part of the Bondi site, and the only information available is the address.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

The groups will be the first to receive the early ideas for the project, and in this scenario will be able to work with CE and their chosen architect to tailor them to their liking.

CE recently launched their luxury Drummoyne waterfront apartment development, Bianca Drummoyne, which quickly garnered attention as a rare harbourfront offering, the first waterfront project to be released in Drummoyne since 2020.

<img alt="Bianca" data-entity-type="file" data-entity-uuid="a653f348-6300-4549-87fb-5a023a122d9b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.43.15%20am.png?VersionId=y47RwMWs0jhaOJIJeCT4wCuxAKRvVGZ7" />Bianca Drummoyne will have just 12 luxury apartments on the harbour. Image supplied

There's been the expected demand from Drummoyne locals, as well as the affluent Hunters Hill area who are looking to downsize to the water. He says there's also been those from other areas who are closer to the Sydney Harbour precinct.

"Because of the price point, there's been enquiry from those who see value compared to if the project was in Double Bay or Mosman. Drummoyne still represents that luxury harbour lifestyle, a private beach, north-facing apartments with a resident swimming pool on the harbour and a ferry 100 metres away, without the price point of some of those more celebrity suburbs."

Chivas says waterfront coastal sites are always going to be top tier, and will never not have that demand factor.

"There's definitely a high priority to find those properties."

While many developers would be happy to be in the position CE are in with a work book of completed projects and a strong pipeline heading into 2024, Chivas says there's still the appetite to secure the next opportunity, although he says it's becoming increasingly more difficult to buy in Sydney's premium waterfront suburbs.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

<img alt="Coogee Central Element" data-entity-type="file" data-entity-uuid="0f942326-813d-40dd-bdd1-c7891dd0fbb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.44.28%20am.png?VersionId=VF7Y24F5bhi9oPhTsXFQggTMEJ.6r.5P" />The approved plans for Coogee's 1860 Ballamac House, to be launched in 2024. Image supplied

Chivas says sometimes there's no money in the world that would pry a family away from their land.

"All vendors have different ways of looking at things and expectations. They all have unique circumstances. Some are emotionally connected to their land parcels and want them to stay in the family name forever."

Chivas says there are some who have&nbsp;unrealistic expectations of what their land can be worth to a developer.

"Ultimately the land is worth what someone is willing to pay for it. But if it's a developer, and they want to create some sort of new development and come out of the other side higher than break even, then there's absolutely a ceiling as to how much the land is worth," Chivas says.

"There's always basic economics as to what you can achieve."

While not haven't to look much further than father Wayne for development inspiration, Chivas says he takes some learnings from Sydell Group, the hospitality and hotel operator famous for creating The Ned in London and the Park MGM in LAs Vegas.

"While they don't do residential development, they create these amazing stories in their developments where they've got the story telling factors, whether it's through celebrating heritage or hero-ing the location. It's definitely a brand we like and how they position themselves, their vision, delivery, and how they execute on a world class scale is certainly something we look to replicate.

"It's similar to what we do in a bit of a different way."

Chivas says he will be taking some inspiration from Sydell Group for their latest hospitality venture, the redevelopment of The Minerva in Potts Point, the iconic theatre which they're transofmring into a 63-key, five-star boutique hotel.

They were given the green light from the City of Sydney Council earlier this month.

Managing Director Nathan Chivas says setting new benchmarks in property development has been in Central Element’s DNA for decades

The story behind Central Element's push for ultra-luxury in Sydney's best suburbs: Five minutes with Managing Director Nathan Chivas

Commentary from CoreLogic's&nbsp;Head of Residential Research Australia Eliza Owen

CoreLogic's interactive Mapping the Market Report shows 82.4% of the 4,506 house and unit suburbs analysed nationally saw values rise in the three months to October.

Conversely, 792 (17.6%) house and unit suburbs declined in value in the past three months&nbsp;

Capital city markets are running at very different speeds, with Perth the strongest market while Hobart and Darwin are flat or falling.

Australia's housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months.&nbsp;

CoreLogic's interactive Mapping the Market tool, updated with data to the end of October 2023, found 83.1% of house markets and 80.6% of unit markets saw values rise in the past three months.&nbsp;

This broadly reflects continued growth in the Australian housing market, despite high interest rates and weakening economic conditions.&nbsp;

It’s often noted that Australia is not ‘one housing market’ and we’re currently seeing increased diversity in capital city market performance. That’s reflected in city-wide growth rates, the various levels of supply that’s available in some cities over others, and it’s reflected in the different suburbs we analyse in this report.&nbsp;

At one end of the spectrum, suburb-level analysis reflects the extraordinary growth trend across cities like Adelaide, Perth and Brisbane. In these cities, total listings levels &nbsp;are low, city-wide capital growth is running a bit over 1% per month, and migration &nbsp;trends from both overseas and interstate favour more housing demand."&nbsp;

<h2>Capital cities running at high speed&nbsp;</h2>

In Brisbane, each of the 162 unit markets analysed saw values rise in the past three months, while of the 305 house markets, only four saw a quarterly decline. These were the higher-end suburbs of Kalinga and Windsor as well as the more affordable &nbsp;Redland spots of Macleay Island and Lamb Island. &nbsp;

In Adelaide, only 3% of house markets saw a decline in the quarter, but there was a notable portion of unit markets in decline (13.4%, or 9 of the 67 suburbs analysed). &nbsp;

In Perth, there was one suburb where house values fell in the past three months, which was Mount Hawthorn, and Ms Owen said even there, the house market sustained only a mild decline of -0.2%. &nbsp;

Remarkably, 98.1% of the house and unit markets across Perth rose in value over the &nbsp;past three months, and 96.3% of suburb dwelling markets in Perth were at record high &nbsp;values at the end of October."

<h2>Capital cities running at mid-speed&nbsp;</h2>

Running at ‘mid-speed’ are Sydney and Melbourne dwellings, where city-wide capital growth was 2.5% and 1.2%, respectively in the past three months. &nbsp;

The pace of growth across both markets has slowed from the middle of the year when the June rate-hike surprised financial markets and many economists’ &nbsp;predictions.

Currently, growth in Sydney markets are strongest across relatively expensive house markets, with Five Dock houses topping the three-month capital growth ranking (up &nbsp;8.4%). In Melbourne, it was the more mid-priced unit market of Moorabbin, which topped the list, increasing 7.4%.

<h2>Portion of suburbs recording quarterly and annual falls in values&nbsp;</h2>

<img alt="Portion of suburbs recording quarterly and annual falls in values" data-entity-type="file" data-entity-uuid="13084365-cc5e-432b-9d90-5f1285a55214" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Portion%20of%20suburbs%20recording%20quarterly%20and%20annual%20falls%20in%20values.png?VersionId=TcsKKK9_.RZMkOM3Vnh.G8m6WMscUqSs" />

<h2>Capitals that are flat or falling&nbsp;</h2>

In Hobart and Darwin, 41% of house markets saw a quarterly decline. &nbsp;

Ms Owen said overall, Hobart home values ticked 0.3% higher in the past three months, but capital growth trends have been shaky, and total listings are trending around 47% higher than the previous five-year average. &nbsp;

"The city has seen value falls recorded in three of the past six months. Declines across &nbsp;Hobart houses were led by a -3.2% fall across the relatively expensive market of &nbsp;Sandford. &nbsp;

"Canberra has also seen relatively flat capital growth trends, and particular weakness in the unit market. 32 of 39 unit markets analysed in Canberra saw a quarterly decline, &nbsp;with the steepest fall in O’Connor, down -4.1%," she said.&nbsp;

Across regional markets, conditions are equally diverse, with Regional Queensland the strongest house market and Regional SA the best performing unit market.

Australia's housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months

Staff Writer

Values rising in more than 80% of Australian house and unit markets: CoreLogic 

<a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;has been at the forefront of residential development for a number of years. It was that experience that helped them make the move first into the office sector, and then into the multi-residential high-rise apartment space in&nbsp;<a href="/new-apartments/sydney-nsw">Sydney</a> recently, as well as expanding their house and land developments to Western Australia.

With everything going on, Apartments.com.au CEO Mike Bird caught up with <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;CEO Lachlan Thompson, in the Beverley Rooftop bar which sits atop <a href="/developers/goldfields-group">Goldfields</a>&nbsp;House, their commercial tower at&nbsp;627 Chapel Street in <a href="/new-apartments/south-yarra-vic-3141">South Yarra</a>, to talk about their approach to development.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/hjTv0srRT1g?si=GsAamRTDkk3k2Jkf" title="YouTube video player" width="560"></iframe>

Goldfields House was <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;entry into the office market, presenting&nbsp;both commercial and hospitality elements.&nbsp;In 2017, amid expectations of a significant run on commercial office rents, the team strategically decided to explore the uncharted territory.

"The opportunity was probably a little bit bigger than we were looking for in 2017," Thompson says.

"We thought there was going to be a significant run on commercial office rents."

They had initially been looking for something smaller, missing out on a few opportunities in Cremorne, before securing the prime site on South Yarra's Chapel Street.

It completed around the time where the leasing market was the worst in three or four decades, but the fact they delivered a product that was the best in class, meant they were incredibly successful in leasing the building.

The success at Goldfields House led <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;into the high-rise apartment space, with the learnings of developing a high-rise office tower with the amenity to match.

"Amenity is everything these days, and it's a bit of a one-upmanship at the moment as to who can provide the most," Thompson said on residential developments.

"What there is that's coming out of the market at the moment is that everyone is becoming very house proud of where they live, and becoming super loyal to the building that they've bought in."

<a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;first made the move into Sydney high-rise market with <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson of Chatswood</a>, a 90-metre tower in the heart of <a href="/new-apartments/chatswood-nsw-2067">Chatswood</a>. That came after a low-rise townhouse and apartment project in Pymble.

[smartcode_project:default project_id=21170 project_image_fid=231163]

The Bryson, near Beauchamp Park will comprise 70 one, two and three-bedroom apartments across its 26 levels, including a collection of&nbsp;skyhomes and penthouses.

Thompson says he's seen a shift in buyer preferences during the marketing of <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson</a>.

"Two-bed one baths are nearly extinct, we saw that coming," Thompson says. What they didn't see coming was the amount of amalgamation requests.

"Probably about 25 per cent of enquiries at the moment are for amalgamations, turning twos into threes."

[smartcode_project:default project_id=21170 project_image_fid=210274]

<a href="/developers/goldfields-group">Goldfields</a> will be looking at recreating a smaller version of Goldfields House in Brisbane in the not too distant future.

All up <a href="/developers/goldfields-group">Goldfields</a> have delivered around 6,000 residential dwellings across house and land lots, apartments and townhouses.

With everything going on, Urban.com.au CEO Mike Bird caught up with Goldfields Group CEO Lachlan Thompson, in the Beverley Rooftop bar which sits atop Goldfields House South Yarra, to talk about their approach to development

How a diversified portfolio helped Goldfields Group expand into the apartment market: Five minutes with Goldfields Group CEO Lachlan Thompson

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From an investment perspective, there are many similarities between the real estate sector and stock market. Both can be used as powerful investment tools, thanks to their ability to grow significant value in fluctuating market conditions. However, when times get tough, there is one very important difference that separates the two – you don’t need stocks to survive but you do need shelter.

And that makes current market conditions all the more pertinent – not for some 18-24 months has the opportunity to put a new roof over your head coincided so perfectly with a great time to buy. Recent price adjustments across the board, particularly here in Melbourne, have made getting into the real estate market a particularly attractive proposition for a range of homebuyers, from first home buyers to up-graders.

With three decades of experience, our team has seen pretty much everything real estate has to offer – both the peaks and the troughs. Like any industry, there are going to be ups and downs, but ultimately, it is these changing conditions that give way to opportunity and the ability to do better business.

There is no doubt that Melbourne’s current real estate climate presents some interesting challenges for all sides of the property sector – and recent pessimistic media headlines certainly aren’t helping!

However, as the old saying goes, ‘with challenge comes opportunity’ – and there’s plenty of opportunity out there for buyers who are motivated, well-informed and ready to move on the well-priced property that we’re seeing come onto the market.

Until recently, the typical Melbourne property market breakdown had been heavily skewed in favour of investors, who were estimated to have held somewhere in the midst of 70% of local residential property assets, while owner-occupiers and first home buyers battled to make up the remaining 30%.

Fast forward to today, and some notable shifts have occurred, with the split of housing ownership now estimated to be somewhere closer to 45% investor, 40% owner-operator and 15% first home buyer.

<h2>Tips for first home buyers</h2>

As Melburnians, we are incredibly fortunate to have so many great suburbs at our fingertips and in close proximity to the CBD.

Now is an exciting time for families and first home buyers on the hunt in the property market. Make sure you are dealing with an experienced professional who has seen it all in a property sense, but still has their finger on the pulse of what’s happening the industry.

This will give you the confidence needed to go out and capitalise on today’s buying conditions, without losing sight of what is sustainable according to your current financial position – for example, ensuring there are funds set aside for a ‘rainy day’.

<h2>Tips for developers</h2>

It is crucial that developers also realise what is prudent when it comes to planning and delivering a new project. Keep new developments around the 50-60 apartment quota for residential areas, giving yourself the best chance to strike the perfect balance between supply and demand.

Developers should be stocking their shelves with land acquisitions in key areas of growth that have sound infrastructure (existing or planned) and amenities nearby like public transport services, educational institutions and everyday retail shopping.

And, always ask yourself “are we delivering the right kind of product for the end user?” Here again the counsel of a seasoned real estate agent and project marketer can be invaluable in helping you to weigh up the opportunities presented by the current market and consumer demand, with your long-term investment and development strategy.

Michael Lang is a Director at Castran GIlbert and brings over 20 year’s real estate experience to this role, specialising in residential established properties, selling development sites together with off the plan properties. Ranging from boutique developments of 10 apartments to larger scale developments of over 200, Michael has worked on developments all over Melbourne – as far East as Boronia, as far North as Bundoora, South as Mount Martha, and as far West as Williamstown.

Look our for Apartments.com.au's follow up Podcast with Michael and fellow Director David Howard in coming weeks.
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