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]

Joel Robinson

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

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

Mount Waverley

Mount Waverley, known for its safe and convenient lifestyle, is now offering a unique opportunity to become part of its prestigious community, with construction due to complete on the latest residential offering.&nbsp;

A collection of just nine architecturally designed townhomes form Syndal Place, combining contemporary aesthetics, thoughtful design, and top-notch fixtures.

[smartcode_project:default project_id=112112 project_image_fid=192257]

Mount Waverley, often referred to as the jewel in the crown of Melbourne's southeast, is renowned for its heritage streets and captivating charm. Situated a mere 20 kilometres from the CBD, it has consistently ranked among the top choices for families seeking a comfortable and fulfilling lifestyle in Melbourne.

The demand for housing in Mount Waverley, particularly within the Glen Waverley Secondary school zones, has reached unprecedented levels in recent times, with families and individuals drawn to the suburb's friendly ambience and the convenience of being close to The Glen.&nbsp;

Located near Syndal Village, construction on the Jesse Ant Architects designed townhouses is due to wrap up shortly.

All the two-bedroom townhouses have already been sold in the development, with only a limited collection of three and four-bedroom floorplans remaining, with prices beginning from&nbsp;&nbsp;$1.22 million.&nbsp;

[smartcode_project:default project_id=112112 project_image_fid=192260]

The floorplans span from 156 sqm through to 222 sqm, each providing two car paces, along with a choice between two, three or four-bathroom options.&nbsp;

The townhouses are set across multiple levels, with each benefitting from spacious balconies on the upper levels, in addition to ground floor landscape courtyards.&nbsp;

[smartcode_project_cta:default project_id=112112]

alisonwarters@gmail.com

Construction due to wrap at Mount Waverley townhouses, Syndal Place

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There are 966 homes scheduled for auction across Melbourne this weekend up from the 255 held during Melbourne Cup weekend.
There were more auctions squeezed in the week before the cup than this week. The city saw roughly 1,400 auctions take place in the week preceding the event.
The Melbourne suburb of Mount Waverley is host to the highest volume of auctions this weekend, with 19 homes set to go under the hammer, according to CoreLogic.
Next busiest are Reservoir, set for 18 auctions, as well as Craigieburn and Glen Waverley, also in Melbourne, with 17 scheduled auctions each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 2,257 currently being tracked by CoreLogic, increasing from the 1,555 auctions held last week at final results.
Over the same week, last year a higher 2,386 auctions took place across the capital cities.
Sydney is also expected to see an increase in activity this week, with 887 homes scheduled for auction, increasing on the 843 auctions held last week.
Across the smaller auction markets, the number of homes scheduled for auction this week is lower across Adelaide and Brisbane, higher in Canberra and Perth, while Tasmania will host only 6 auctions.
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j.ballantyne1990-6AQqhLzZaK

Melbourne auction volumes bounce back following Melbourne Cup break

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The Melbourne suburb of Mount Waverley is host to the highest volume of auctions this weekend, with 10 homes set to go under the hammer, according to CoreLogic.
Next busiest are Glen Waverley and Reservoir, also in Melbourne, with nine scheduled auctions each, along with the Sydney Suburb of Surry Hills.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to fall, with 1,144 currently being tracked by CoreLogic, down from the 1,479 auctions held last week at final results.
Over the same week, last year a much higher 2,279 auctions took place across the capital cities.
Both Melbourne and Sydney are expected to see a decrease in activity this week, with 500 homes scheduled for auction across Melbourne, while Sydney is set to host 431 auctions, decreasing on the 672 and 539 auctions held last week respectively.
The smaller auction markets will also see a lower volume of homes auctioned week on week with the exception of Adelaide where more auctions are scheduled and Tasmania where there is no change.
<img src="https://www.urban.com.au/images/2019/5/9/May%2011%20upcoming%20auctions%204.JPG" alt="">
The busy auction weekend in Mount Waverley sees <a href="https://www.realestate.com.au/property-house-vic-mount+waverley-130926706" target="_blank">7 Annesley Court</a> (pictured in title) offered.
The property going under the hammer is a five bedroom three bathroom house.
It comes with an indicative price guide of $2,100,000 - $2,310,000.
<img src="https://www.urban.com.au/images/2019/5/9/May%2011%20upcoming%20auctions%202.JPG" alt="">
Another example of the breadth of auctions taking place in Mount Waverley is <a href="https://www.realestate.com.au/property-townhouse-vic-mount+waverley-127599530" target="_blank">1/22 Surrey Road</a> (pictured above).
The property going under the hammer is a four bedroom three bathroom townhouse.
It comes with an indicative price guide of $1,300,000 - $1,420,000.
<img src="https://www.urban.com.au/images/2019/5/9/May%2011%20upcoming%20auctions%203.JPG" alt="">
A third property going to auction in Mount Waverley this week is <a href="https://www.realestate.com.au/property-house-vic-mount+waverley-130938934" target="_blank">13 Biscayne Drive</a> (pictured above).
The property going under the hammer is a three bedroom one bathroom house. 
It comes with an indicative price guide of $1,250,000 - $1,350,000.
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Mount Waverley set to be busiest weekend auction hotspot

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A planning application before City of Monash has sidestepped the traditional 'mixed-use' format, instead opting to label the pending project as a ‘multi-age precinct’ development.

BC Mount Waverley Project Pty Ltd is pushing through with the application across 445-467 Blackburn Road Mount Waverley, which also abuts the Monash Freeway. The Box Hill North-based entity was created during 2015 to purchase the property and existing 4-star Hotel Bruce County, with the intent of delivering a larger development onsite.

And that development consists of the ‘multi-age precinct’ which would cater specifically for both children and the elderly, whilst adding short, mid and long-term accommodation options.

445-467 Blackburn Road is the work of Marchese Partners, whose last major Melbourne design effort was <a href="http://www.marchesepartners.com/project/v1/">Village Docklands V1 Tower</a> which was completed during 2005.

<h2>445-467 Blackburn Road application summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image17_15.jpg" rel="gallery-all" title="Rendered perspective. Planning image: Marchese Partners"><img alt="" class="image-article-full-width-580px" height="403" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image17_15.jpg?itok=31RaBTvf" title="Rendered perspective. Planning image: Marchese Partners" width="580"></a>

<figcaption>Rendered perspective. Planning image: Marchese Partners</figcaption></figure><ul>
<li>Current use: Hotel Bruce County, conference centre, restaurant, car park</li>
	<li>Site area: 6,353sqm with 2 street frontages</li>
	<li>Proposed: U-shaped building rising to 10 levels or 32.4m</li>
	<li>Hotel: 120 rooms and 8 serviced apartments</li>
	<li>Retirement village: 60 independent living units</li>
	<li>47 apartments and 10 townhouses</li>
	<li>A medical centre and retail outlet</li>
	<li>Single basement level for 135 cars</li>
	<li>Child care centre for 140 children. 589.9sqm indoor area and a 320.9sqm terrace</li>
	<li>Amenities: central courtyard, gym, swimming pool, hydro therapy area</li>
</ul>
<h2>Design Philosophy excerpts</h2>

<blockquote>
The architectural detailing of the proposed building is exceptional in quality, which is a rare occurrence in the middle and outer ring suburbs of Melbourne. As a result, the proposed development makes a significant contribution to the neighbourhood, presenting a well-resolved design with highly articulated facades and active ground level interfaces.

The 10 storey building height proposed in this part of the site presents a robust interface to the Monash Freeway exit ramp and Blackburn Road, defining this corner and recognising the prominence of this location by proposing a key built form marker for the locality.

The proposal makes a positive contribution to the public realm by providing attractive and activated frontages to all street addresses. The commercial address to Blackburn Road will be retained and new food and drink premises and health care services fronting the central courtyard will promote activity and engagement within the site.
<cite>Urban Context Report and Design Response: Hollerich Town Planning</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image18mp.jpg" rel="gallery-all" title="Rendered perspective. Planning image: Marchese Partners"><img alt="" class="image-article-full-width-580px" height="359" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image18mp.jpg?itok=OzA9NqEe" title="Rendered perspective. Planning image: Marchese Partners" width="580"></a>

<figcaption>Rendered perspective. Planning image: Marchese Partners</figcaption></figure><h2>Mount Waverley's largest</h2>

445-467 Blackburn Road inserts itself as Mount Waverley's largest project in development. Apartments.com.au is tracking six other projects within the suburb, but all pale into insignificance relative to 445-467 Blackburn Road's overall size.

Current notable projects within Mount Waverley include further commercial buildings slated for the Axxess Corporate Park on Gilby Road and the intended mixed-use development spanning 170-174 Highbury Road. The latter was well publicised as early works ran into issues during the excavation process, resulting in damage to adjoining properties.

Also in the works for Mount Waverley is Pace Development Group's 554-558 High Street Road; awaiting a VCAT hearing, Pace took the proposal to VCAT because Council did not decide upon the application within the required 60 day timeframe

445-467 Blackburn Road on the other hand was lodged with City of Monash earlier this year, and only began its advertising stint last week.
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silvermb

Mount Waverley earmarked for a ‘multi-age precinct' development

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The Axxess Corporate Park in Mount Waverley by Dexus has seen three new tenancy commitments, following upgrades to the properties by the property group.
The three are Monash University, Mason Seir Turnbull (MST) Lawyers and Suncorp Group, with the deals brokered by Colliers International. 
Monash University has signed on for 4,800 sqm at 321 Ferntree Gully Road, MST has taken 1,800 sqm at 315 Ferntree Gully Road and Suncorp Group has a 1,100 sqm office space and a 3,000 sqm warehouse at 47 Gilby Road.
All three leases were struck on mid-term tenures.
The leasing agents were Travis Myerscough, Rob Joyes, Ash Dean and Kevin Tutty of Colliers. 
“There was a need to provide modern, functional facilities that matched the appeal of the well-serviced estate,” Myerscough said, referring to the refurbishment work by Dexus.
Amenities for staff includes cafes, a childcare centre, gymnasium, badminton courts, on-site mechanic and BBQ areas.
Dexus also recently completed the construction of two more fully fitted and furnished suites at 307 Ferntree Gully Road, Mount Waverley.
“These upgrades are part of Dexus’ portfolio-wide suite strategy, where space is subdivided and speculatively fitted out to attract smaller space users,” Myerscough said.
“Following the success of subdividing whole floors in its high-rise buildings in the city, Dexus sought to implement the approach in its suburban properties.”
Dexus has found a tenant for 307 Ferntree Gully Road, with toy manufacturer Funtastic taking up a 550 sqm tenancy while relocating from Chadstone Shopping Centre.
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Dexus finds major tenants for Mount Waverley business park

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An entertainers paradise in Mount Waverley has sold for $3,806,000 ahead of its auction.
Designed by En Vogue Developments and constructed around seven years ago, the <a href="https://www.realestate.com.au/sold/property-house-vic-mount+waverley-123102614" target="_blank">two storey grand home</a> offers five bedrooms, four bathrooms and a three car garage.
Meticulously updated, the home with home office is set on 1500 square metres of landscaped grounds and is just steps from the Riversdale Golf Course.
The outdoor comprises an oversized rear deck and the outdoor entertaining area has a steel kitchen, barbecue, wood fire pizza oven and bar fridge.
It's accompanied by a dramatic waterfall that meets a gas-heated, self-cleaning, self-refilling and self-salting swimming pool.
Harcourts Judd White agent Sin Chan secured the sale.
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Mount Waverley entertainer sells for over $3.8 million

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The Treasurer Scott Morrison has announced that he ordered the sale of eight more properties due to more breaches in foreign investment ownership laws.
The owners had come from Malaysia, Taiwan, the United States, India, Canada and China. 
The newest enforced sales takes the tally to 27 properties that the federal government have ordered to be sold, totalling around $75 million in value. <a href="/news/australian-buyer-lola-wang-li-emerges-with-villa-del-mare-the-39-million-point-piper-firb-home">Villa del Mare in Point Piper</a> sold last year at $39 million being the headline one. 
Queensland took the brunt of the latest divestiture orders with properties in Eight Mile Plans, Park Ridge, Robertson and Crestmead all being forced to sell.
There was one property from Windsor, New South Wales and three from Victoria on Morrison's hit list, the most expensive being 35-37 Regent Street in Mount Waverley which was purchased for $5.1 million without permission, and resold under the amnesty at $6 million late last year.
<a href="https://www.realestate.com.au/property-house-vic-mount+waverley-119802483" target="_blank">The four bedroom home is one of Mount Waverley's largest land holdings</a> over 4097 sqm and features a tennis court, swimming pool and pool house with sauna, was briefly owned by a Malaysian.
It was advertised as having the potential for redevelopment into multiple townhouses. <a href="/news">CoreLogic RP Data puts the house price median at $1.2 million</a>.
Morrison said that the tax office are now looking after investigations into illegal purchases and still have 800 cases to look in to.
He also said the government amnesty period meant the owners of the eight properties would escape criminal charges.
"The foreign investors either purchased established residential property without Foreign Investment Review Board approval, or had approval but their circumstances changed meaning they were breaking the rules.
"Under the reduced penalty period announced in May, the investors linked to the eight properties now have 12 months to sell the properties, rather than the normal three month period, and will not be referred for criminal prosecution," he said.
Fines of up to $135,000 or three years imprisonment can be enforced for individuals and $675,000 can be imposed for companies.
The Mt Waverley foreign buyers are understood to have come forward under an amnesty period between May and November, so were not referred for prosecution.
The homes forced back to market in the Brisbane and Logan suburbs of Eight Mile Plains, Park Ridge, Robertson and Crestmead were priced from $780,000 to $250,000. In Melbourne the Blackburn property was valued at $525,000 and in Carlton at $215,000 and in Windsor, outside Sydney a $518,000 property.
 
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jrobinson-rf4aSBido9

Treasurer orders foreigners to sell Mt Waverley property

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To be more specific, <a href="/new-apartments/mulgrave-vic-3170">Mulgrave</a> in Melbourne's South East is experiencing somewhat of a commercial office space surge with a handful of projects currently under construction. With well established credentials as home to in excess of 300,000sqm of office space, Mulgrave and to a lesser extent adjoining <a href="/new-apartments/mount-waverley-vic-3149">Mount Waverley</a> continue to expand at pace.

Largest of the current crop is <a href="/builders/australand">Australand</a> and Commercial &amp; Industrial Property's 211 Wellington Road in Mulgrave which is well into construction of its first phase. A five star NABERS rated, seven-level office building valued at $62.6 million is under development alongside a multi-level 650 bay car park.

<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/image45.jpg" rel="gallery-all" title="The first phase of 211 Wellington Road. Renders courtesy Colliers"><img alt="" class="image-article-full-width-580px" height="401" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image45.jpg?itok=1B2jJ6kC" title="The first phase of 211 Wellington Road. Renders courtesy Colliers" width="580"></a>

<figcaption>The first phase of 211 Wellington Road. Renders courtesy Colliers</figcaption></figure>With a lettable area of 12,718sqm, the under construction office building covers a fraction of the 10,930sqm development site which is expected to see additional commercial buildings delivered in due course. Monash University have elected to take 7,825sqm within the initial office building that has an expected completion date of early 2016.

In addition, last week's <a href="http://www.afr.com/real-estate/australand-wins-new-suburban-office-tenants-20150416-1mmisk">AFR reported</a> that Mazda Australia will commit to its new Australian headquarters at the facility. Covering 6710sqm, the development is also seen above and represents the next phase of 211 Wellington Road which may yield in excess of 40,000sqm of lettable space upon completion.

Nearby and construction has begun on 545 Blackburn Road, the follow-up to Fortune Building's initial 549 Blackburn Road office project which is now headquarters to business solutions company, Pentana Solutions.

<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/main_1_0.jpg" rel="gallery-all" title="Under construction. Image courtesy 545blackburn.com.au"><img alt="" class="image-article-full-width-580px" height="339" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/main_1_0.jpg?itok=HlMiaN-E" title="Under construction. Image courtesy 545blackburn.com.au" width="580"></a>

<figcaption>Under construction. Image courtesy 545blackburn.com.au</figcaption></figure>The new accommodation, seen above, will hold 7,400sqm of commercial office space above a basement catering for in excess of 330 vehicles. As has become the norm with many commercial developments citywide, end of trip facilities have been designed into the building, as has been a ground level cafe and rooftop recreation area.

Rounding out the trio of current builds is <a href="/developers/salta-properties">Salta Properties</a> ever expanding Nexus Corporate development. The recently completed nine level car park/office structure has been replaced by another build, namely a new corporate office complex at the north east corner of the development site.

<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/image48_1.jpg" rel="gallery-all" title="Nexus' most recent and upcoming. Render courtesy Colliers"><img alt="" class="image-article-full-width-580px" height="195" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image48_1.jpg?itok=ggRtzQot" title="Nexus' most recent and upcoming. Render courtesy Colliers" width="580"></a>

<figcaption>Nexus' most recent and upcoming. Render courtesy Colliers</figcaption></figure>The 4.5-star NABERS rated building under construction will not be the last for Nexus Corporate either with Salta holding the adjoining 2-22 McDonalds Lane. With a site are aof approximately 15,000sqm, the development plan shows the potential for 14 separate buildings within the precinct, as opposed to the six currently completed.

The redevelopment of the remaining plots is a long term prospect, given the existing buildings are leased.

<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/image46_1.jpg" rel="gallery-all" title="Development plan. Image courtesy nexuscorporate.com.au/"><img alt="" class="image-article-full-width-580px" height="380" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image46_1.jpg?itok=v2FwrWnU" title="Development plan. Image courtesy nexuscorporate.com.au/" width="580"></a>

<figcaption>Development plan. Image courtesy nexuscorporate.com.au/</figcaption></figure>
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