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

Newcastle

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The Wollongong residential market has experienced strong growth in recent years, over 20% greater than Newcastle.
Primarily because of its proximity to Sydney and the potential for the population commute to Sydney, where there is a larger variety of higher paying jobs, according to the latest report from BIS Oxford Economics.
Wollongong’s median house price is calculated to have risen by 68 per cent in the four years to June 2017, but growth has slowed down to around two per cent in 2017/18 in line with the slowdown in the Sydney market.
In contrast, median house price growth in Newcastle has lagged, having risen by an estimated 42 per cent in the four years to June 2017, although house price growth in 2017/18 has been stronger, at an estimated five per cent, the report noted.
The lower price growth in the Hunter Region reflects it being largely outside the orbit of Sydney from a commuting perspective, and weaker local employment conditions that have been impacted by falling coal investment.
The economists suggest, that the market appears to be tightening, with vacancy rates in the Hunter Region falling below two per cent since the last quarter of 2017.
"Both regions will start to show slowing price growth over the next three years, in line with the weaker Sydney market", the report forecasts.
"Starting from further behind, more upside is forecast for the Newcastle market, where the median house price is expected to rise by a total six per cent in the three years to June 2021."
In contrast, prices in Wollongong are expected to remain flat, with aggregate growth of one per cent in the three years to June 2021, the economists suggested.
Recent population estimates from the Australian Bureau of Statistics suggests that despite decreasing affordability in Sydney, there hasn’t been significant growth in migration into these regions from Sydney as yet.
However, if movements were to accelerate, there could be some upside to the price forecast for both markets, concluded the report.
For a look at our take on the BIS Oxford Economics report for the national market check out, "Melbourne house prices forecast to tread water through to 2020/21".
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j.ballantyne1990-6AQqhLzZaK

Newcastle and Wollongong's residential market growth to weaken in line with Sydney: BIS Oxford Economics

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East End Newcastle's developer Iris Capital has pushed through with significant changes to the sprawling development that will eventually account for multiple city blocks.

Chief among the planning manoeuvres was the lodgement of Stage Two with Newcastle City Council during May. Under its East End Stage 2 Pty Ltd subsidiary, Iris Capital intends to realise 129 apartments, retail and commercial spaces within the $50 million development application.

CKDS Architecture has conceived the most recent stage, working with fellow design practice SJB in the process.

<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/image30_15.jpg" rel="gallery-all" title="CKDS Architecture's intended Newcastle addition"><img alt="" class="image-article-full-width-580px" height="344" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image30_15.jpg?itok=p11pi8iZ" title="CKDS Architecture's intended Newcastle addition" width="580"></a>

<figcaption>CKDS Architecture's intended Newcastle addition</figcaption></figure>Stage Two's built form encompasses 13,695 square metres and includes as many as nine retail tenancies spanning 1,500 square metres. Apartments and retails spaces aside, Stage Two also features a green internal courtyard and north-south laneway that divides the built form into two separate volumes.

CKDS Architecture's take on Stage Two reads as follows:

<blockquote>
The proposed Newcastle East End Stage 2 development carefully navigates the varied conditions of the site through sensitive additions above and between existing heritage buildings.

Together with the reinstatement and upgrade of the finer grain buildings that define the King Street frontage, the proposal considers the historical layering as well as the future aspiration of the East End redevelopment. Multiple design massing options were considered to arrive at the most appropriate built form.

The final proposal combines the site topography, future character as well as the retention of existing buildings. Existing buildings deemed significant are to be restored, celebrated and maintained; ensuring the heritage layering across the site is preserved.
</blockquote>

Meanwhile in unison with Stage Two's lodgement, Iris Capital has also lodged a Modification Application for the overall development which is bound by Hunter, King, Perkins and Newcomen Streets.

A modest increase in overall gross floor area would see 63,116 square metres delivered in total, whilst a reduction in commercial and corresponding increase in retail spaces are also on the agenda. The bulk of the additional floor area has been directed toward Stage Two.

<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/image31_11.jpg" rel="gallery-all" title="SJB's staged concept proposal for the development"><img alt="" class="image-article-full-width-580px" height="261" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image31_11.jpg?itok=cufKM8H3" title="SJB's staged concept proposal for the development" width="580"></a>

<figcaption>SJB's staged concept proposal for the overall development</figcaption></figure>Iris Capital's move on Stage Two follows on from East End Newcastle's initial apartment release which occurred in the last quarter of 2017.

Stage One of four consisted of 155 apartments on a site bound by Hunter, Wolfe, King and Perkins Streets; it is the largest of the four development parcels. The initial stage consisted of apartments only, with its construction expected to be complete by mid-2020.

The overall project value is slated at $750 million and upon completion will include substantial retail offerings plus multiple publicly accessible spaces throughout the precinct.

<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/r0_1162_5000_3987_w1200_h678_fmax.jpg" rel="gallery-all" title="Iris Capital's released first stage of East End Newcastle"><img alt="" class="image-article-full-width-580px" height="328" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/r0_1162_5000_3987_w1200_h678_fmax.jpg?itok=W_i-ai8S" title="Iris Capital's released first stage of East End Newcastle" width="580"></a>

<figcaption>Iris Capital's released first stage of East End Newcastle</figcaption></figure>
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silvermb

Iris Land pushes on with Stage Two of East End Newcastle

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While Newcastle’s sporting fortunes are dwindling, the same can’t be said for the local property market.
With Sydney’s market in decline, many expected Newcastle to shortly follow, a prediction that has not yet occurred, according to the June report from valuation firm Herron Todd White.
A major rejuvenation of the CBD, a mining sector recovery and a strong tourism push are just some of the factors contributing to Newcastle’s growing economy.
Generally, with a strong local economy, the property market is strong and this is certainly the case at the moment with Newcastle.
"Even though the Sydney market is cooling off, it is still the most expensive in the country meaning investors are still attracted to Newcastle because of its size, cheaper prices and proximity to Sydney."
"These investors are still the strongest players in the local market with their demand for property still high" suggests the HTW valuers. 
There are a number of apartment blocks being built across the CBD and most of these apartments are sold off the plan as soon as they become available, with one local agency reporting that they sold an "entire block within a week", noted the report.
A recent auction in Bar Beach saw a home advertised with a price range of between $2.8 million and $3 million.
The property sold for $3.5 million at auction with eight bids amongst four registered bidders.
While this property is in Newcastle’s prestige market, agents are reporting that average homes are still not lasting long on the market and vacant land in the outer developing suburbs is still selling fast.
There is no doubt the market is still strong but there is certainly caution in the air, suggests the report.
Agents are seeing fewer numbers at open homes and the number of apartments being built in the city has some experts believing we could end up with an oversupply situation similar to that seen in some of the major metropolitan areas around the country.
Others still believe Newcastle is too directly connected to Sydney’s market for its decline not to eventually be passed on.
"It seems however at this stage that the Newcastle market does not rely as strongly on Sydney as the Knights do on Mitchell Pearce."
The valuers suggest that, "although the Knights may have crashed due to his loss, the Newcastle’s property market seems to be weathering the storm."
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Newcastle’s sporting fortunes are dwindling, but not the local property market: HTW 

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Newcastle's development momentum continues to roll along as evidenced by the latest tower to reach planning.

Core Project Group is looking to capitalise on the city's development surge by backing the new office building at 723-733 Hunter Street. It forms the last piece of developable land across the former 'Newcastle City Holden' site which has seen childcare, hotel (Holiday Inn Express) and retirement (RSL LifeCare) uses added.

EJE Architecture's latest design iteration for the 14-storey office building hit planning in the last week of May, with the public now able to provide their input over the coming weeks.

Another development falling within Newcastle's West End Precinct, the $44 million proposal is sited across 3,909 square metres of land.

<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/image19_19.jpg" rel="gallery-all" title="EJE Architecture's take on 723-733 Hunter Street "><img alt="" class="image-article-full-width-580px" height="261" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image19_19.jpg?itok=cf_2ouHw" title="EJE Architecture's take on 723-733 Hunter Street " width="580"></a>

<figcaption>EJE Architecture's take on 723-733 Hunter Street</figcaption></figure>Included within the tower is 10,790 square metres of  net-lettable floor area, with the bulk located within the upper seven levels. Retails at ground level accounts for 329 square metres, with subsequent podium levels accommodating 233 vehicles and 68 bicycles.

Atop the tower is an expansive rooftop terrace and activation area.

The office levels features a double-glazed facade which according to EJE Architecture "will incorporate other features such as lux sensored lighting, water harvesting and re-use, photovoltaic power generation for house power, naturally lit foyers and at level a/c systems to minimise pipe runs."

723-733 Hunter Street is but the latest development earmarked for the already burgeoning Newcastle city centre which is seeking an increasing amount of development activity.

<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/image23_10.jpg" rel="gallery-all" title="Thirdi Group's West End Newcastle"><img alt="" class="image-article-full-width-580px" height="344" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image23_10.jpg?itok=aVNjHbaR" title="Thirdi Group's West End Newcastle" width="580"></a>

<figcaption>Thirdi Group's West End Newcastle</figcaption></figure>Apartments have proven popular in the seaside city, with strong consumer uptake over a swag of recent and current apartment developments.

North Sydney-based Thirdi Group has a vested interest in the area, recently launching West End Newcastle. It consists of dual residential towers dubbed Eaton on Union and Stella on Hannell, and will ultimately see a $100 million complex built.

Canberra-based Doma Group is also heavily vested in Newcastle with a string of projects in play. Works recently commenced on the developer's 154 apartment Lume project on Honeysuckle Drive, whilst a trio of additional projects incorporating hundreds of new apartments are at various stages of development.

Another noteworthy development is IRIS Capital's mixed use East End precinct on Hunter Street. It involves a four-stage development that is expected to add hundreds of new apartments in buildings ranging from 10 to 11 storeys.

<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/image28_13.jpg" rel="gallery-all" title="Doma Group's current Newcastle residential pipeline"><img alt="" class="image-article-full-width-580px" height="466" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image28_13.jpg?itok=cuiOeBvp" title="Doma Group's current Newcastle residential pipeline" width="580"></a>

<figcaption>Some of Doma Group's current Newcastle residential pipeline</figcaption></figure>In and among the <a href="https://www.theherald.com.au/story/5158240/more-high-rise-apartments-for-newcastle-west/">many other residential projects</a> planned, the University of Newcastle is close to lodging plans for a seven-building development on a major vacant land plot adjacent to the Hunter River.
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Newcastle's skyline flourishes with multiple towers in the works

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Newcastle has seen property boom over the past three years and valuers Herron Todd White (HTW) noted the figures show it has been the fastest growing regional city for the past two years.
Once perceived as a gritty and undesirable industrial town dominated by BHP and coal, Newcastle has transformed into a desirable coastal regional city, thanks in part to some major urban renewal projects, the valuation firm suggest.
Traditionally, the Newcastle property market has been dictated by the Sydney market due to its close proximity.
Newcastle’s average house prices are still under half that of Sydney, attracting a large number of investors looking for an affordable alternative close by.
However, there are a few factors at play to suggest that while the Sydney market obviously has a strong influence, it is not the only measure influencing the local market.
Newcastle still has its industrial roots and with the Hunter Valley coal mines on the doorstep, the city is the largest coal exporting port in the world.
During the global financial crisis of 2008, while the major cities saw property values suffer negative movement, Newcastle and the Hunter Valley property prices were experiencing the effects of one of the biggest mining booms in history, avoiding any negative movement.
Perhaps the biggest influencer in the current Newcastle market is the amount of urban development occurring in the city. With a $90 million refurbishment of the city’s largest shopping centre along with the largest infrastructure development the city has undertaken in decades, Newcastle is fast losing its industrial stigma and becoming a desirable and affordable sea change destination.
A Newcastle inner city one bedroom apartment has been recently sold for $548,000 (pictured below).
Situated within the Tattersalls building,<a href="https://www.realestate.com.au/sold/property-apartment-nsw-newcastle-127767894" target="_blank"> the 603/9 Watt Street apartment</a> comes with main bedroom with walk-in robe, balcony with views of Newcastle's working harbour, and secure car space.
It is within close proximity of Hunter Street mall, the harbour foreshore as well as Newcastle's pristine beaches.
<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/2018/4/11/watt%20st%20.jpg" alt="">
Another new offering is a King Street five bedroom house with the price guide of $1.5 million (pictured below).
<a href="https://www.realestate.com.au/property-house-nsw-newcastle-127900482" target="_blank">The 81 King Street house</a> is proportioned over three levels with a generally north facing aspect.
It comprises a self contained (top two levels) three bedroom, with a large living room, older kitchen and bathroom and harbour "snippets".
Ground floor features a self contained two bedroom and sunroom flat with an older kitchen and bathroom and large open plan living room.
<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/2018/4/11/king%20st.jpg" alt="">
 
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Newcastle houses going for half Sydney prices: HTW

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The Newcastle and Lake Macquarie district has been ranked as having the strongest capital gains of any regional property market across Australia in 2017, according to the latest CoreLogic data.
It had 11.7 percent annual growth, which easily outperformed Sydney's 3.1 percent annual price growth during 2017.
The regional locations - north of Sydney - were followed by the NSW Southern Highlands and Shoalhaven (up 10.3%) and then Geelong, outside Melbourne, (up 9.7%).
In April last year Property Observer columnist Terry Ryder advised that "those who find Sydney a tad rich don’t have to go too far to find major markets" with greater affordability and good growth prospects.
Ryder suggested Newcastle "has a rising economy, a strong property market and appears to be settling into a sustained period of growth."
Ryder also twice identified Geelong as a a locality with potential including mid-year when he wrote that the Geelong economy was performing strongly and its property market thrived as a cheaper alternative to Melbourne.
In 2014 he wrote "I’m wondering why so many have declared Geelong a dead duck."
The weakest regional markets continue to be in Australia’s outback regions and areas dependent on the mining sector, according to the latest CoreLogic update.
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The largest fall in dwelling values over 2017 was recorded in Outback Queensland, a region which encompasses a vast but sparsely populated area of western Queensland, where dwelling values were down 14.3% in 2017.
Rounding out the top five for largest value falls across the regional areas of Australia were Darling Downs–Maranoa in Queensland (-8.2%), Outback South and Outback North in Western Australia (-7.6% and -7.3%) and Townsville in Queensland (-5.6%).
Across Australia, Tim Lawless at CoreLogic confirmed that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.
Amongst the capitals, the weakest end of year conditions are concentrated in Sydney and Darwin.
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Tim Lawless said that “Sydney’s housing market has become the most significant drag on the headline growth figures.”
Sydney dwelling values were down 0.9 percent over the month to be 2.1% lower over the December quarter and 2.2% lower relative to their August 2017 peak.
The city’s annual rate of growth is now tracking at just 3.1 percent; which CoreLogic's Tim Lawless noted was a stark difference to the recent cyclical peak when values were rising at the annual rate of 17.1 percent only seven months ago.
Despite the reversal in growth rates since August 2017, Sydney dwelling values remain 70.8 percent higher than their cyclical low point in February 2012.
The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).
Despite the strong capital gains, housing prices remain extremely low in Hobart relative to the larger mainland capital cities, with the median house value tracking at $424,251; 54 percent ($634,000) lower than Sydney values and 49 percent ($408,000) lower than Melbourne.
 
 
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jchancellor-FAypfDUnLy

Newcastle, Lake Macquarie, Southern Highlands and Shoalhaven property capital gains outperforming Sydney: CoreLogic 

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<div>Hotel Delany, one of Newcastle’s trophy hotels, has been listed for sale amid a surge of interest in pub investment opportunities.</div>
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<div>The hotel at <a href="https://www.commercialrealestate.com.au/property/134-darby-street-newcastle-nsw-2300-2014003489" target="_blank">134 Darby Street</a> is positioned between the redeveloping Newcastle City Centre and the $750 million East End project.</div>
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<div>It sits on a 1,684 sqm retail site with future redevelopment potential and also includes a valuable late trading hotel licence and 22 PME’s.</div>
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<div>The hotel is being marketed by CBRE Hotels’ Ben McDonald and Daniel Dragicevich along with Deane Moore of Moore &amp; Moore Real Estate.</div>
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<div>“The Hotel Delany has long been one of the most asked about pubs in Newcastle and we have no doubt there will be significant interest from hoteliers around the state – particularly from Novocastrian operators but also from mixed use developers and commercial property investors,” CBRE's McDonald said.</div>
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Hotelier Gary Hird and his son, Anthony, are selling the iconic pub. It marks the end of an era for the Hird family, who have spent nearly two decades at the helm of the Cooks Hill operation, the Newcastle Herald added. The Hird family bankrolled the renovation of the pub in 2009, at an estimated cost of up to $6 million.
 The pub gets its name from Newcastle businessman Victor R. Delany, who commissioned the design of the original building in 1924. 
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<div>“The venue holds a special place in the hearts and minds of all locals and even though the Hirds have steered it well during their tenure I look forward to what new lease of life the next operator can breathe into the operation,” added Moore &amp; Moore Real Estate’s Deane Moore. </div>
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<div>There has been a surge of interest in larger scale hotels in Newcastle in recent times with the Prince of Wales at Merewether, Duke of Wellington at New Lambton, The Exchange Hotel in Hamilton and Nags Heads at Adamstown all transacting over the past 12 months at sale yields normally reserved for Sydney metro hotels, said McDonald.</div>
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<div>McDonald said this exemplified the interest, not just in the local pub sector, but in Newcastle’s commercial property market in general.</div>
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Newcastle pub Hotel Delany listed by hotelier Hird family 

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For the first time in seven years, the Elermore Shopping Centre in Elermore Vale, nine kilometres west of Newcastle has sold.
A private syndicate has snapped up the neighbourhood centre for around $18 million on a 6.8 per cent passing net yield.
Located at 133 - 137 Croudace Road, the single level, enclosed and strong performing centre comprises a large Ritchies SUPA IGA supermarket supported by 17 non-discretionary specialty tenants.
There's 4,048 sqm of gross lettable area on a 23,882 sqm site including additional land ready for development, car parking for 235 vehicles and an estimated fully leased net income of around $1.44million.
Steven Lerche, national director of retail investments at Savills Australia, sold the asset with Andrew Palmer and Ben Nastasi on behalf of Bamm Group
The Elermore Shopping Centre purchase six years was timely according to Ben Nastasi, with Bamm Group more than doubling their capital after their $8.3 million purchase.
Steven said said investment activity is strong in Newcastle. 
“Newcastle is seeing a surge in investment activity, largely stimulated by the $6.55 billion State Government investment mandate which has brought to light the new light rail system on Hunter Street, the new transport interchange at Wickham, construction of the Newcastle City University Campus and much more," he said.
“We are seeing a lot of investor interest come from the Sydney investment market and interstate markets such as Melbourne and Brisbane due to the significant growth prospects of Newcastle. 
“Retail assets have been in particular favour with developers due to their strategic locations, large site area, existing income stream and potential to re-develop under the existing planning controls.
Newcastle is the largest regional economy in Australia and is the second most populated area in NSW.
Elermore Vale is a popular and established residential suburb surrounded by schools, childcare centres and community facilities, with a key primary population of 5,759* residents and an estimated population of 20,459* within the main trade area.
Andrew Palmer said Elermore Vale and its surrounding suburbs are set to reap the benefits of this surge in investor demand.
 
 
 
 
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jrobinson-rf4aSBido9

Private Investor snaps up Elermore Shopping Centre

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Newcastle is becoming a hot spot for property investments, according to Herron Todd White’s latest report.
The property data firm says that 50 percent of residential sales in the Lower Hunter region of Newcastle were to investors.
“Owning your own home is the great Australian dream, but what about owning two homes, three homes or even more?
“Investing in real estate has always been a popular way of earning an extra income in Australia and with over 50% of residential sales in the Lower Hunter in the past financial year being to investors, this region is certainly a hot spot for property investment.
“The number of investment home loans has dropped nationally over the past year and this trend is predicted to continue due to the regulatory clampdowns that have been imposed.
“These regulations and the government’s efforts to cool the housing market especially in major cities would suggest that investment should slow down nationwide.
“This may not be the case in the Lower Hunter however; in fact it will probably buck the trend,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamilton+south-126012362">8 Thomas Street</a>, Hamilton South (above) was sold for $996,000.
Built in 1930 it last sold in 2005 for $485,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-waratah-125916530">22 Ada Street</a>, Waratah (below) was sold for $730,000.
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Newcastle has an excellent rental market with a vacancy rate of 2.3% Herron Todd White advises.
“Newcastle is still an enticing prospect for investors due its close proximity to Sydney, its affordability compared to the capital cities and an excellent rental market with a current vacancy rate of just 2.3%.
“With Newcastle being a university city there is a high investor involvement in good rental yield suburbs close to the university such as Jesmond and Wallsend.
“However investors are also looking at inner city and coastal suburbs such as Cooks Hill, Wickham and Adamstown for higher capital gains.
“The Newcastle CBD is undergoing a makeover and with the construction of not only a new university campus but also numerous apartments, the area is sure to see an influx of investment in the near future.
“Strong rental returns, larger blocks, competitive capital gains and the ability to find low maintenance 2- to 3-bedroom properties for under $500,000 means the region offers plenty of good investment opportunities for those who can’t afford the larger capital cities, especially Sydney.
“There is something for every type of investor: more expensive coastal properties, inner city properties, student accommodation, fixer uppers and larger family homes in the outer estates and suburbs.
“Savvy investors continue to see good returns in Newcastle and the investment market shows no signs of slowing down,” the report advised.
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Newcastle becoming a hot spot for property investors: HTW

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The Gateway Hotel, a Newcastle icon, has been placed on the market for the first time in more than 20 years. 
The hotel at <a href="https://www.realestate.com.au/property/139-maitland-rd-islington-nsw-2296" target="_blank">139 Maitland Rd, Islington</a> boasts a rare 5 am licence, 15 underperforming gaming machines, and a large footprint on a 778 sqm corner site. 
It has long been a popular watering hole in Newcastle. But for more than a year, demands have grown that the venue be struck off a list of safe venues for the city’s lesbian, gay, bisexual and transgender communities. 
In January, a senior transgender staff member alleged that she was assaulted by a male patron outside the hotel but the hotel didn’t call the police, the Newcastle Herald had reported.
The hotel has been generally used as a ‘weekender’ by the current owners and would benefit from a keen and motivated operator, according to listing agents are John Manenti of Manenti Quinlan and Associates and  Deane Moore of Moore and Moore Real Estate.
It last changed hands for $650,000 in 1999, according to Corelogic RP Data.
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Gateway Hotel comprises a public bar, indoor and outdoor gaming rooms, bistro, beer garden, nightclub, eight first floor guest rooms, a function room and other amenities. 
Deane Moore said “with the impending redevelopment of the Cambridge Hotel site, the Gateway Hotel is potentially the last true late night and live music venue in Newcastle”. 
John Manenti added that high performing gaming venues nearby was a bonus for the new operator.
The sale is by expressions of interest which close on September 7.
The corner location, the hotel offers a range of features which make it the ultimate Newcastle sleeping giant. 
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