Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Mirvac

<html><body>
Susan Lloyd-Hurwitz, the Mirvac chief executive, has spent $770,500 to buy a bolthole in Mirvac's recently completed development in Melbourne, the Eastbourne, which boasts apartments as an "inner city Eden".
She has recently noted securing her mortgage had been a "painful process."
"It's tortuous."
The scrutiny can "get non-sensical" she added. 
Title documents reveal her banker is Westpac.
The Killara-based Lloyd-Hurwitz had been known to be an off the plan buyer since the complex went up for sale in the pre-Royal Commission days of 2016.
Buyers of the apartments have also emerged as including Mirvac director Elana Rubin who spent $1.89 million.
There have now been calls for the Mirvac annual report to list such purchases in its related-party disclosure requirements.
Mirvac argues no specific declaration about an acquisition is required because shareholders were on notice that its directors had the opportunity to purchase apartments.
This article was first published in the Weekend Australian.
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mirvac boss calls mortgage approval process 'tortuous' after buying Melbourne investment apartment

<html><body>
The boss of Mirvac, one of Australia's largest apartment developers, has called for an urgent lift in building standards, despite being caught up in the combustible cladding crisis.
Describing the sale of defective units as a "breach of faith", Mirvac chief executive Susan Lloyd-Hurwitz called for swift improvements to construction practices.
"Of particular urgency currently is the need to raise building standards in Australia," she said.
Lloyd-Hurwitz said it was "unacceptable" families who bought or rented apartments in good faith could find themselves without a home.
She said it was "unacceptable" for them to then face years of legal battles and substantial costs to rectify buildings.
"It's an outrageous situation as people bought them in good faith and now they have to battle through the legal processes," she said
"This breach of faith is more than just a transaction gone wrong.
"These homes represent the life savings and dreams of Australians who have invested their futures in those homes.
"People should be able to know that their homes are constructed safely, and that in the event something does go wrong, that they will have support and recourse."
She said Mirvac supported recommendations in the Shergold Weir Report.
"I don't think there needs to be [another] inquiry," Lloyd-Hurwitz was reported as saying by Nine Entertainment.
Mirvac had in fact benefited from the crisis as customers sought out a better known brand at the same time as the market was slowing, she said.
The upmarket Ikon apartment block in Potts Point is the latest Sydney apartment block to find it has dangerous combustible cladding.
The building is set to spend $420,000 on rectification 15 years after its construction by Mirvac.
The report lodged seeking permission with Sydney City Council notes, based on the risk assessment and inspection by Red Fire Engineers, suggests certain sections of aluminium composite panelling must be removed and replaced with non-combustible panelling.
Earlier this year the residents and Mirvac were still in discussion over the cost issue with its strata manager advising the Ikon owners corporation would not comment.
A Mirvac spokeswoman said the building's cladding complied with relevant rules at the time it was built.
"All completed Mirvac buildings, including Ikon, have been certified at the time as complying with the relevant fire safety standards and the Building Code of Australia," she said.
Last year Lendlease, another ASX listed developer with a proud reputation, replaced combustible panels on an apartment building at its own undisclosed cost.
</body></html>

jchancellor-FAypfDUnLy

Mirvac chief calls for lift in building standards

<html><body>
Mirvac's residential revenue has fallen 33 per cent in 2019 in the so-called soft downturn.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Mirvac Group announced its full-year results for the financial year ended 30 June 2019.
 The group achieved an overall statutory profit of $1 billion for the fourth consecutive year, delivered at the top end of guidance.
Mirvac’s Susan Lloyd-Hurwitz, suggested it was its "award-winning urban asset creation capability" that helped keep it in a robust capital position.
It settled 2,611 residential lots, exceeding the Group’s FY19 target. 90% of exchanges were domestic.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/8/Mirvac%20operating%20results.jpg" alt="">
Defaults remained below 2 per cent; with secured future income with $1.7 billion of residential pre-sales.
Mirvac’s existing pipeline supports the ability to release over 10,000 lots over the next four years.
The residential division delivered gross development margins of 27 per cent, above their target of 18-22 per cent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/8/Mirvac%20major%20settlements.jpg" alt="">
It supplemented the group’s residential pipeline of 28,000 lots with the acquisition of a 33.5-hectare site at Henley Brook, WA, 22 kilometres north of Perth and a 171-hectare, quarry site at Wantirna South, VIC, 25 kilometres south-east of Melbourne.
“Despite a challenging market, we have seen sustained sales throughout the financial year, and we achieved our settlement target and maintained our default rate at less than 2 per cent," Lloyd-Hurwitz stated.
"This is testament to the enduring quality of our products and our trusted brand.
“Looking forward, our strong residential gross margin reflects the capital efficiency of our development structures, and we have carefully restocked in the changing market, with a number of new development opportunities in established Mirvac sub-markets including Henley Brook, WA and Wantirna South, VIC, putting us in a strong position to take advantage of the anticipated upswing.”
 
 
</div>
</div>
</div>
</div>
</body></html>

Mirvac's residential revenue down 33 percent

<html><body>
Mirvac Group and co-owner Suntec Real Estate Investment Trust have announced the topping out and completion of the main structural works at its Melbourne project Olderfleet.
The 38-level building at 477 Collins Street, Melbourne consists of 58,000 square metres of premium-grade office and retail space and was designed by Grimshaw. 
Mirvac’s General Manager, Development, Simon Healy, said the project had topped out on time, with practical completion expected in mid-2020. 
“This milestone marks another achievement for Olderfleet, which has seen strong interest from our tenants with a range of high calibre brands pre-committed, bringing the tower to 94% leased,” Healy said.
“Mirvac’s vision to create one of Australia’s leading smart buildings, rising out of the heritage façade at Olderfleet, has struck a chord with the Melbourne market.
“Set to become an exemplar of modern working environments, the building integrates leading technology, sustainability and amenities that will include a wellness offering and childcare centre.”  
Brands already committed include Norton Rose Fulbright, Lander &amp; Rogers, Urbis and anchor tenant Deloitte.
“Olderfleet presents a rare opportunity for premium office space in the tightening Melbourne rental market,” Healy said.
“Since Mirvac’s construction commencement, there has been a surge of interest in the midtown area of the CBD, with the precinct surrounding Olderfleet coming to life with restaurants, bars, shopping, and health and wellbeing facilities for workers and the community. 
“Mirvac has a pipeline of projects in Melbourne including 383 La Trobe Street.
“This future, next generation office tower provides yet another opportunity for Mirvac to set new benchmarks in workplace design and contribute to the dynamic and evolving urban landscape within the Melbourne CBD.”
Mirvac has already pre-committed two of the five retail spaces at the Olderfleet building and has had strong enquiries for the remaining spaces, including a foyer café, two-level tenancy at the heritage entrance and a laneway offering on Flinders Lane, Healy said.
Deloitte’s Managing Partner, Victoria, Paul Rehder said: “We’re really excited to reach this key milestone for our new home at 477 Collins Street– a workplace signalling Deloitte’s position as the undisputed leader in professional services and a magnet for what we can offer clients and employees, both professionally and personally.  
“The future of work is moving towards human-centred, technologically driven workplaces – trends that reflect the convergence of work and life to enhance employee wellbeing.
“The building is purposefully designed to encourage co-creation and innovation, and it will set a new standard for employee experience as the way our people work becomes more automated, agile and collaborative.” 
Lander &amp; Rogers’ Chief Executive Partner, Genevieve Collins, said: “Innovation and technology are transforming the legal profession and this provides an exciting opportunity for firms that are prepared to seize it. 
“This involves more than simply investing in IT infrastructure: we need to evolve how we work – with our clients, each other, and within our broader community.
"Internally, our people tell us they want an environment that accommodates complete mobility.
“They want areas for digital and face-to-face collaboration as well as spaces conducive to individual focus.
“An agile, connected workplace is at the very core of Lander &amp; Rogers' long-term strategy and our move to 477 Collins will help us fully realise that." 
Olderfleet is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
</body></html>

Mirvac and Suntec's Olderfleet Melbourne project tops out

<html><body>
The first month of Orion Springfield Central’s new mobile worker hub, The Third Space, has seen over 120 enquiries in the first month.
Facilities on offer at the Mirvac facility include the use of meeting spaces, individual work stations and flexible co-working areas, plus free services like scanning and printing.  
Kimberley Hill, Experience and Business Development Manager for The Third Space said, "high speed internet, parking and free printing along with our kitchen facilities are popular and the child-minding service for free at Mini Minders is a winner."
“We are already seeing monthly membership sign ups to secure spots,” Kimberley said.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/16/20190603-RRP_1864.jpg" alt="">
Users range from technology and financial services businesses through to musical and massage therapy consultants utilising the free child care services and great desk space with other like-minded flexible workers.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/16/20190603-RRP_1998.jpg" alt="">
It already offers free parking and a dedicated concierge who responds to calls and drop in enquiries.  
The Third Space is located in the Target Mall opposite Mini Minders, operating from 8.30am to 5.30pm, Monday to Friday, with both casual rates and monthly memberships offered during a 12-month trial of the concept.
</body></html>

Mirvac's Third Space at Orion is receiving heavy enquiry

<html><body>
Mirvac has partnered with Next Gen Health and Lifestyle Clubs to deliver a brand new resort-style facility along with their highly sought after residential development Tullamore in Doncaster.

The multi-million dollar project will see an elite health, fitness and lifestyle facility constructed on an 11,000 square metre site, with an anticipated opening for 2020.

The members-only club will feature the latest innovations in training equipment, a full suite of studio classes, resort-style indoor and outdoor heated pools, four tennis courts, a luxury spa retreat, members lounge and a café.

<blockquote>
“All Next Gen clubs are built on sites with a strong sporting heritage, which is a natural synergy with Tullamore’s rich golfing history. We are delighted to partner with Mirvac to open our first club in Victoria, and we hope to bring Doncaster residents a new and unparalleled health and lifestyle experience.”
</blockquote>

Brett Leahy, Managing Director of Next Gen

<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/next_gen_doncaster_artists_impression2.jpg" rel="gallery-all" title="Next Gen Doncaster"><img alt="Next Gen Doncaster" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/next_gen_doncaster_artists_impression2.jpg?itok=6ZsUMNmG" style="width: 580px; height: 369px;" title="Next Gen Doncaster"></a>

<figcaption>Next Gen Doncaster</figcaption></figure>Situated within the grounds of Mirvac’s highly sought after residential development Tullamore, the project aims to reflect the developer's goal of reimagining urban life, by providing a luxury retreat just minutes from the CBD. The development is set amongst a flourishing landscape of open parklands – with 20% devoted to green open spaces. Tullamore community will feature approximately 850 new homes across 47 hectares of land, featuring heritage trees, parks, walking and cycle tracks and more.

<blockquote>
“We are delighted to partner with Next Gen Health and Lifestyle Clubs to bring a first-of-its-kind facility to the natural surrounds of Tullamore. At Mirvac, we are focused on delivering outstanding living environments for our residents and Tullamore is no exception. We hope that this new amenity will add to the wellbeing and sense of freedom of residents and the wider community.”
</blockquote>

Elysa Anderson, General Manager Residential Victoria at Mirvac

<div class="rtecenter">DISCOVER</div>

<div class="rtecenter"><a href="/buildings/phoenix-65-stables-circuit-doncaster">Phoenix, Tullamore</a></div>

<div class="rtecenter"><a href="/buildings/folia-59-stables-circuit-doncaster">Folia, Tullamore</a></div>
</body></html>

Olivia Round

Next Gen Health + Lifestyle Club to open in Doncaster

<html><body>
Allens has advised ASX-listed Mirvac Group (Mirvac) on its fully underwritten institutional placement to raise A$750 million.
They also offered counsel on a non-underwritten security purchase plan to raise up to A$75 million. 
Combined they make up one of the largest equity raisings in Australia this year.
The Mirvac equity raising follows a series of equity raisings by real estate groups.
"We're seeing several real estate groups move to capitalise on strong equity market conditions to embark on acquisitions or raise funds for future opportunities," said Partner Julian Donnan, who led the Allens team alongside Partner Kate Towey.
"Mirvac is one of Allens' long-standing clients and we were pleased to advise them on this landmark capital raising that will strategically position it for future growth," Kate said.
Approximately A$2.1 billion of capital has been raised by Australian Retail Estate Investment Trusts in 2019. Allens has acted on a number of these transactions, including:
- Acting for the underwriters on Dexus' A$900 million fully underwritten institutional placement; - Acting for Charter Hall Education Trust on its A$120 million fully underwritten institutional placement and follow on unit purchase plan; and - Acting for the underwriters on VIVA Energy REIT's A$100 million fully underwritten institutional placement.
</body></html>

Allens advises Mirvac on $750m equity raising

<html><body>
Woodlea’s triumphant launch to market has led to its sixth town-house release due to popular demand. The precinct is now Australia’s fastest community and has almost sold out, with 60 town-houses being snapped up by buyers within the space of a year.

<blockquote>
“Townhouses are generally reserved for inner city living but the different townhouse collections we’ve released to date have received strong demand from all different purchasers, proving there is no one size fits all."
</blockquote>

Lora Djurdjevic, Woodlea Marketing Manager

Djurdjevic also notes that young couples and first home buyers have shown an interest in the homes due to the level of quality and value for money, while families and downsizers are impressed by the low maintenance aspects of the town-houses.

The sixth development Parkfront Retreat, designed by Porter Davis Homes, will feature 10 turn-key residences with 3 and 4-bedroom configurations, affordably priced from $433,000.

Each town-house will be constructed with timber flooring throughout, premium stone benchtops, 2.7-meter high stud ceilings and brick; render and lightweight cladding.

<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/woodleatownhouse1.jpg" rel="gallery-all" title="Woodlea's sixth town-home edition Parkfront Retreat"><img alt="" class="image-article-full-width-580px" height="354" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/woodleatownhouse1.jpg?itok=z0XSNW5X" title="Woodlea's sixth town-home edition Parkfront Retreat" width="580"></a>

<figcaption>Woodlea's sixth town-home edition Parkfront Retreat</figcaption></figure>Each dwelling boasts both a balcony and a courtyard for excellent light and airflow throughout the property and a great area for entertaining design by MDG Landscape Architects. The convenient location of the town-houses neighbours Featherwood Park and is only 350 metres from the future Woodlea Town Centre which is due to open next year.

<blockquote>
“Our townhouse releases are always located in prime locations within the Woodlea estate and overlook one of the many parks available, with the future town centre and schools all just a short stroll away... This has been an incredibly appealing feature for families as everything they need is right on the doorstep of their brand new home.”
</blockquote>

Lora Djurdjevic, Woodlea Marketing Manager

All properties are freehold, and buyers will be exempt from paying an Owners Corporation fee.

Lead image: Woodlea Townhomes
</body></html>

VIP + Mirvac launch sixth Woodlea townhouse development

<html><body>
Mirvac have posted a surprise boost in profits in their in their half year results ended 31 December 2018.
Their operating profit after tax increased by 26 percent to $290 million from $260 million.
Mirvac’s CEO and managing director Susan Lloyd-Hurwitz, said the results were driven primarily by their high-performing investment portfolio.
"Our proven in-house asset creation capability remains a key competitive advantage for the Group, allowing us to generate value through the strength of our integrated model," Lloyd-Hurtwitz said.
Mirvac's biggest profit increase was seen in the residential sector, where their operating results have jumped from $34 million in 1H18 to $58 million in 1H19, an increase of over 70%.
The increase however reflects timings of settlements Mirvac advised, which were skewed more to 1H19 compared to 1H18.
Mirvac said they are on track to deliver FY19 lot target with a greater proportion of settlements coming from masterplanned community projects.
“Despite the challenging residential market, we believe our high-quality residential product, located close to amenity and transport, will continue to outperform the wider market," Lloyd-Hurtwitz added.
"The resilience of our residential division along with the robustness of our investment portfolio, means we remain confident in our ability to deliver operating earnings growth of between 3 and 4 per cent and distribution growth of 5 per cent in FY19.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/7/Mirvac1.jpg" alt="">
Mirvac posted residential pre-sales of $2 billion, with an existing pipeline that supports over 12,000 lot releases over the next four years.
They are on track to achieve over 2,500 lot settlements for FY19.
They completed 1,067 settlements in 1H19 and over 110 settlements in January 2019.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/7/Mirvac2.jpg" alt="">
 
</body></html>

jrobinson-rf4aSBido9

Mirvac defies property downturn with near 40% increase in profits

<html><body>
<div class="_2vba1">
Mirvac is marketing a "Chinese New Year" rebate for buyers across its apartment towers in Sydney.
Buyers are being offered a public rebate of up to $18,888 on selected apartment purchases at five of Mirvac's projects in Sydney, The Finery, Marrick and Co, Green Square, St Leonards Square and <a href="https://pavilions.mirvac.com/chinese-new-year" target="_blank">Pavilions in the Sydney Olympic Park</a>.
The rebate is an amount paid back to the buyer on settlement.
Mirvac says it regularly offered rebates over the Chinese New Year period as an annual practice.
The new lunar year started today.
"Mirvac has had a long standing relationship with the local Chinese community.
"Over the last several years we have acknowledged and celebrated lunar new year with a special offer on selected properties for a fixed period of time," a spokeswoman told Nine Entertainment.
</div>
<div class="ztzrw">
<div class="_3t7hh">
Sydney unit prices have <a href="/news/sydney-house-values-dropped-10-percent-in-2018-corelogic">fallen nearly seven per cent last year</a>.
For Mirvac, the $18,888 rebate applies to the purchase of selected three-bedroom apartments, while a rebate of $15,888 applies to a 2-bedroom apartment purchase and $10,888 is redeemable on a one-bedroom or studio apartment.
Buyers must make a 10 per cent deposit.
The promotion only applies to sales during February 1-28 except to Finer lots 59, 114, 188, 193 and 212.
Prices for available apartments across the developments range from:
a. Finery: $695,000 - $1.78 million
b. Marrick and Co: $699,000 - $1.895 million
c. Green Square: $795,000 - $940,000
d. St Leonards Square: $715,000 - $4.625 million
e. Pavilions: $699,000 - $1.65 million
 
</div>
</div>
</body></html>

Mirvac

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Mirvac

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News