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>.

Joel Robinson

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

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

Off the plan

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The AFR columnist Christopher Joye has speculated the affluent Wentworth voters "might inflict massive financial losses on themselves in what is one of Australia's most investment-orientated electorates."
He was suggesting the electorate was playing dice with a Labor government and its housing policies as potentially detrimental. 
Joye noted, according to the last census, the proportion of investment properties in Wentworth is 42 per cent higher than the national average (specifically, 44 per cent versus 31 per cent of all homes).
In addition to being an electorate of landlords, there is an unusually large number of renters in Wentworth, some of whom who might welcome Aussie house prices falling 10 per cent to 15 per cent, which is "base case before factoring in Labor's policies."
Joye noted RiskWise Property Research predicts that if Labor comes to power at the next Federal Election, the situation will get much worse with house prices slumping a further 9 per cent in Sydney and Melbourne as a result of its policies to eliminate negative gearing and hike capital gains tax (CGT) by 50 per cent for anyone who holds assets for 12 months or more.
"Extensive RiskWise modelling shows that, nationally, dwelling prices would fall nine to 12 per cent should the proposed changes to tax legislation be voted through," the RiskWise authors concluded.
The report found that Labor's proposal to eliminate negative gearing would be equivalent to a 23 per cent increase in interest repayments for a new property investor, lifting theeffective annual mortgage rate from 5.10 to 6.25 per cent.
The 50 per cent increase in CGT further reduces the net present value of a property by two percentage points assuming an historically low 4 per cent rate of annual capital gains. 
Joye wrote the timing of Labor's policies could not be worse with the banking royal commission having wiped $42 billion off the value of the major banks - hammering super funds' equity portfolios - while limiting borrowers' access to credit.
"Even though Australian lenders have consistently maintained among the lowest mortgage default rates in the world, they are rationing credit to home owners because they are worried about breaching Labor's byzantine responsible lending laws, which have entangled the royal commission's activists.
"This is intensifying the correction in the housing market, which after appreciating almost 50 per cent since March 2012 has given back 4 per cent to 5 per cent of its value since October 2017 (and more than 7 per cent in Sydney).
"And with record numbers of apartments in Sydney, Melbourne and Brisbane still under construction, this pain is only likely to worsen."
Joye concluded that "the silver lining is that the bursting of the housing bubble blown by the RBA's ultra-cheap monetary policy has coincided with an economic boom fuelled by a highly competitive exchange rate and elevated commodity prices."
 
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j.ballantyne1990-6AQqhLzZaK

Off-the-plan settlement sales price pain to worsen: Christopher Joye

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<div class="cq-article-content-paras section">
Veteran South Yarra developer Michael Yates has sold his last remaining site in South Yarra.
<a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-502792806" target="_blank">The 55 Claremont Street offering</a> was bought pre-auction by a local developer for $8.6 million.
It sold in 2014 at $6.188 million with extended settlement terms.
The 50 plus year veteran, who turned 74 this week, says he's not leaving development, but he has sub-leased his office.
The auction had been delayed twice due to disputes between Yates, his financiers and a buyer of an off-the-plan apartment in the permitted scheme who wished to proceed with their off the plan purchase. 
The site has approval for a 15-storey tower with 37 apartments. 
CBRE marketed the property in conjunction with Gorman Commercial's Jonathon McCormack and Stephen Gorman.
</div>
<div class="cq-article-content-paras section">
<div id="article-inline-ad" class="adWrapper">Yates pulled the permitted residential project last year after selling only 20 of the penthouse-style apartments.</div>
<div class="adWrapper"> </div>
<div class="adWrapper">He then offered it as an amalgamated, 969-square-metre site, with the neighbouring property owned by cleaning company AES Services boss George Haritos, but it failed to sell. </div>
</div>
<div class="cq-article-content-paras section">
"It was a problem child," Mr Yates told the Australian Financial Review last week of his decision to put it back on the market as a single site. "I've never had to pull a project on the market in 57 years."
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jchancellor-FAypfDUnLy

Michael Yates finally secures onsale of 55 Claremont Street, South Yarra

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Well presented and high-quality properties in Sydney’s west are still achieving relatively strong results, however less desirable and average quality stock is being discounted, according to the June update on residential prices by the valuation firm, Herron Todd White (htw).
It says western Sydney buyers have more options and aren’t willing to pay strong money for average stock.
Interest in new land releases, whether vacant land or house and land packages, remains steady, it noted, with developers continuing to stage releases to ensure demand remains relatively strong.
"This has resulted in a consistent level of demand for master-planned subdivisions," HTW suggested.
"We have noticed a number of settlement valuations for new units not meeting their off the plan prices when purchased during stronger market conditions, mostly in 2015 and 2016.
"Whilst mostly occurring for overseas buyers, this could trigger a flow of sales post-settlement due to difficulties obtaining nance and rental yields not meeting expectations thanks to high investor participation.
HTW gave an example in Parramatta with an off the plan sale in October 2014 of $672,000 and recent resale in March 2018 at for $630,000.
"Whilst not an indication of the wider Parramatta market, it does highlight that discounting does occur and if a large number of vendors have to offload property at the same time, it could lead to a market correction as new benchmarks are set.
"Market drivers to keep an eye on during the remainder of the year are interest rates, any tightening of lending criteria and property supply. Any signi cant increases to the cash rate may have flow-on effects to the home loan market, leading to the potential for more distressed sales as homeowners and investors may struggle to meet the larger repayments on highly geared mortgages.
"This has the potential for some pockets of Sydney to experience sharp decreases in values in the short term.
HTW warned any large volume of supply flooding a particular market sector combined with an overall slowdown, tougher lending criteria and possibly higher interest rates will eventually lead to a sharper slowing of the market.
"We believe this is more likely with high-density units as investor participation is higher and as densities increase markets can be supplied quickly."
HTW advised another area to keep an eye on for the remainder of the year was suburbs that allow dual occupancy development following the recent release of the NSW Government’s new Low Rise Medium Density Housing Code. 
"This will allow one and two storey dual occupancies, manor houses and terraces to be constructed under a fast track complying development approval.
"With duplex style development popular in some areas of western Sydney, this fast tracking of approvals may lead to more interest and participation in the market resulting in a boost to owners of blocks meeting the new minimum requirements," the June report suggested.
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Losses in Western Sydney OTP resales could trigger market correction

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COLI Australia, the property development arm of China's China State Construction Engineering, sold 60 of 120 apartments at its first project in Australia, Neue by Coli in Macquarie Park on Saturday.
The 285-apartment project sits on a corner site next to Macquarie University. COLI started in 1979 with its first project in Hong Kong, and in 2016 on Neue, its first Australian project at Macquarie Park.
Neue by Coli comprises two residential towers with DA approval for 285 apartments designed by architects SJB.
Its architectural designs see 85 percent of the apartments being on a corner position.
There were also a number of first time property buyers as well as property investors, due to the close proximity to Macquarie University, shopping centre and the railway station, managing director of Coli Australia, Jason Huang said.
“I believe being part of the world's largest development company puts buyers at ease that Coli will deliver one of the best developments in Sydney.  
"We have already achieved this around the World in London, Hong Kong, China and New York".
Current buyers in the market need the confidence and assurance that any development they buy into has the capacity to deliver, the selling agents suggested.
COLI has had more than 500 residential and commercial projects in over 60 global gateway cities.
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Neue, Macquarie Park secures strong weekend OTP sales

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Zetland - part of the Green Square precinct in Sydney's inner-ring - has been labelled as the riskiest off-the-plan suburb in 2018 in an analysis conducted by RiskWise Property Review.
RiskWise analysed more than 3000 suburbs in an attempt to identify the Top 100 Oversupply Danger Zones across the country.
It says more than 315,000 units have been approved for construction across Australia over the next two years.
Zetland tops the list, which is dominated by suburbs in Sydney and Brisbane.
There are currently nearly 600 apartments for sale in <a href="https://www.realestate.com.au/buy/property-unit+apartment-in-zetland%2c+nsw+2017/list-1?activeSort=list-date&amp;source=location-search" target="_blank">Zetland, and surrounding suburbs, on realestate.com.au</a>.
"Taking out number one spot is Zetland, a former industrial zone 4km south of Sydney’s CBD," Doron Peleg said.
"Now in an advanced stage of gentrification as part of an urban renewal project, the residential development of choice has been high-density units and apartments, with more than 5000 new units in the pipeline across Zetland and neighbouring Waterloo since 2016," the Riskwise report advised.
The Green Square urban renewal area – encompassing Waterloo, Zetland, and parts of Alexandria and Rosebery – is forecast to record a near tripling of its population from 21,000 people to more than 61,000 within 12 years.
Some, like Symphony built by Meriton, are ready to occupy.
<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/2018/2/13/green%20square.jpg" alt=""> 
Off-the-plan projects include Waterfall by Crown Group in Waterloo, four towers ranging from seven to 20 storeys. 
Natural features are centred on a tranquil internal lagoon, lush rooftop escape, tropical bamboo walk, and a 22m high cascading waterfall.
Mirvac's multi-million dollar Ebsworth building has been described as the crown jewel in the City of Sydney's Green Square development. All 174 apartments offered in Ebsworth were sold off the plan in 2015, and completed last year.
Mirvac also secured a near sell-out of Ovo, Green Square with a reported 221 of the 224 apartment Ovo apartments sold in 2015, with an expected completion by early 2018.
Ovo comprised six open plan one bedroom apartments, 46 one bedroom apartments, 152 two bedroom apartments, and 20 three bedroom apartments located at the northern end of Green Square Town Centre.
First home buyers paid $700,000 plus for one-bedroom apartments without parking in what will be the tallest Green Square Town Centre tower.
<table style="height: 278px; width: 725px;" border="0"><tbody>
<tr>
<td>State</td>
<td>Post code</td>
<td>Suburb</td>
<td>New units in next 24 months</td>
<td>New units next 24 months as % of units</td>
</tr>
<tr>
<td>NSW</td>
<td>2017</td>
<td>ZETLAND</td>
<td>2332</td>
<td>39.8%</td>
</tr>
<tr>
<td>NSW</td>
<td>2121</td>
<td>EPPING</td>
<td>2460</td>
<td>42%</td>
</tr>
<tr>
<td>NSW</td>
<td>2142</td>
<td>HOLROYD</td>
<td>3184</td>
<td>853.6%</td>
</tr>
<tr>
<td>NSW</td>
<td>2762</td>
<td>SCHOFIELDS</td>
<td>1389</td>
<td>754.9%</td>
</tr>
<tr>
<td>QLD</td>
<td>4000</td>
<td>BRISBANE CITY</td>
<td>3201</td>
<td>38.5%</td>
</tr>
<tr>
<td>QLD</td>
<td>4006</td>
<td>FORTITUDE VALLEY</td>
<td>1040</td>
<td>23.6%</td>
</tr>
<tr>
<td>QLD</td>
<td>4101</td>
<td>SOUTH BRISBANE</td>
<td>2145</td>
<td>49.7%</td>
</tr>
<tr>
<td>SA</td>
<td>5000</td>
<td>ADELAIDE</td>
<td>1720</td>
<td>20.1%</td>
</tr>
<tr>
<td>VIC</td>
<td>3006</td>
<td>SOUTHBANK</td>
<td>2212</td>
<td>12.5%</td>
</tr>
<tr>
<td>WA</td>
<td>6000</td>
<td>PERTH</td>
<td>1151</td>
<td>13.7%</td>
</tr>
</tbody></table>
There are three suburbs from Queensland that make the top 10.
Adelaide, Melbourne's Southbank and Perth have also been pinpointed as the highest risk across the rest of the country.
Brisbane was always likely to be a contender as one of the high risk, particularly with the likes of the RBA and BOQ highlight their concerns for the amount of apartments.
Riskwise suggest :inner-ring demand doesn’t extend to units" with CBD units delivering poorer capital growth than units in the middle ring. 
It cites prime examples of poor growth as Melbourne’s Southbank, and Fortitude Valley in Brisbane, with negative growths of 1% and 4.8%, respectively.
"In 2017, more than 5300 units were completed in Brisbane, with another 11,000 in construction. 
"What we’re currently seeing on the market is a lot of incentivised advertising, from offers of full furnishings included to a free car on settlement," Riskwise advised.
"A significant number of new developments have led to very high supply of units in NSW, VIC, QLD and WA.
"In many areas inside these states, there has been major oversupply, inflicting significant losses on investors.
"High supply in our major cities, particularly in the CBDs, has often impacted capital growth and rental returns, leading to the instatement of lending restrictions.
"The strength of the units market must be assess on the suburb by suburb basis.
"This slowdown is likely remain at least in the medium term."
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Zetland the riskiest off-the-plan suburb in 2018

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Figures compiled by realestate.com.au show that searches for Australian property by Chinese-based property seekers fell 15 per cent nationally last year.
Sydney searches were down more than 30 per cent and Melbourne down over 10 per cent.
"The biggest drops were in the last quarter of 2017," REA Group chief economist Nerida Conisbee told Fairfax Media.
"I think a lot has to do with taxes introduced last year, sentiment towards Australian property in general and perhaps a slowdown in the construction cycle meaning less to buy.
"Chinese capital controls are perhaps also making an impact – fewer Chinese developers may be impacting buyers." 
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Chinese property searches for Sydney property down 30 percent on realestate.com.au

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Delayed demolition works in the Melbourne CBD after an objection by the owner, have triggered the sales of 556 off the plan apartment buyers being cancelled by its Singapore-based developer.
Developer Chip Eng Seng bought a commercial tower at 150 Queen Street in 2011 with plans for a 71 storey project, known as Tower Melbourne.
It has become one of the first cancelled buildings in Melbourne, with the group now considering its options for the thwarted site.
The decision, announced to the stock exchange in Singapore, comes amid the broader local concerns about the mooted outlook for apartment market oversupply.
Demolition works on the original building have stalled since 2013 after an objection by the owner of an adjoining property at 140 Queen Street worried the demolition might damage its property.
Chip Eng Seng said the legal cases “may still take a considerable period of time” and it was “not possible for the company to ascertain when they can be resolved” nor when demolition could restart.
The group could not meet its deadline to register the plan of subdivision due to the delay, so advised the appropriate course was to terminate all sales contracts.
Some 579 units had been sold, but some buyers had already cancelled their contracts due to the delay.
Some 556 contracts remained with full buyers’ deposits set to be repaid in full with any interest accrued.
Construction of Melbourne’s envisaged highest residential tower was due to start in 2013 with an expected completion date of late 2016.
The CEL development was to come with a 25-metre pool, spa, sauna, steam room and a gym.
One-bedroom apartments in Tower Melbourne had a starting price of $381,000.
Two-bedroom apartments start from $492,000 and three-bedroom apartments start from $763,000.
The skyscraper had been designed by local architects Elenberg Fraser.
“Tower Melbourne is a city defining project,” says Callum Fraser, principal of Elenberg Fraser said at the time of its launch.
“If you take a high-rise tower and add a twist, we have a continuously evolving form and the result is a luxurious living sculpture,” he said.
Property Observer first <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/developments/singapore-developer-cheeky-for-selling-unapproved-melbourne-cbd-high-rise-project-off-the-plan-lord-mayor/2012101657194">reported on the problematic development in October </a>2012 when the Singapore developer was selling apartments, despite not yet receiving planning approval from then Victoria Planning Minister Matthew Guy.
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Tower Melbourne stuck in demolition dispute, so 556 off the plan contracts cancelled

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Sydney was riding the spring racing fervour, with strong buyer demand evident for the latest off the plan apartment offering at Randwick on Saturday.
And Melbourne's embrace of the 13th season of The Block saw big crowds turn up at the inspections of the five Elsternwick house offerings.
The relocated and extended homes were open for the first time on Sunday with queues extending along Regent Street.
The upcoming October 28 auctions have come with indicative sale prices between $2.4 million and $2.64 million, although market commentators have suggested previously the homes ought fetch $3 million.
The first stage of the Newmarket Randwick project sold out - all 124 apartments mostly to owner occupiers for a $175 million total.
Known as <a href="https://www.newmarketrandwick.com.au/?gclid=EAIaIQobChMIr_mc2-Pz1gIVxgRoCh3_zQ9IEAAYAiAAEgJP6fD_BwE" target="_blank">Newmarket Residences</a> (above), the two eight storey proposed buildings were designed by Bates Smart taking inspiration from the nearby heritage Newmarket House and the grand old stable buildings on the site.
Some of the buyers in the conversion of the former Inglis thoroughbred sales complex went onto The Everest race day.
During the four hours sales session, a three-bedroom apartment sold at the top $2.8 million price. Prices for one-bedroom apartments started from $780,000, two-bedroom apartments from $1,200,000 and three-bedroom apartments from $2,200,000. There were 54 x one bedroom apartments, raging between 51sqm- 70sqm; 62 x two bedroom apartments, 73sqm- 93sqm and 12 x three bedroom apartments, 114sqm- 137sqm.
The Cbus Property development will have 642 apartments and terraces on its 2020 completion after the five-hectare site was secured for a reported $250 million in 2015.
The site had accommodated up to 620 horses and included a 1000 person arena used regularly for major horse sales.
William Inglis &amp; Son Ltd, the 150-year-old family business had secured the site for £50,000 in 1917, but sold after shifting to new headquarters near Warwick Farm Racecourse in south-west Sydney.
Meanwhile Sydney’s preliminary auction clearance rate was 69.5 per cent across 916 auctions, after last week saw the final 61.3 percent clearance rate fell to the lowest level since late 2015.
"This is likely to revise lower over the next few days as more results are collected," CoreLogic auction analyst Kevin Brogan said.
This time last year, Sydney auction volumes were similar, although the clearance rate was much stronger at 81.4 per cent.
The Eastern suburbs (81.5 per cent), North Sydney and Hornsby (81.0 per cent) and Northern Beaches (80.7 per cent) had the highest clearance rates.
Sydney's Bronte secured the top weekend sale across the nation with a pre-auction sale of <a href="https://www.realestate.com.au/sold/property-house-nsw-bronte-126425298" target="_blank">a $6.43 million contemporary home</a>.
Architect Michael Folk captured the essence of beach house luxe, selling agent Alexander Phillips at Phillips Pantzer Donnelley said.
But Domain's senior economist Dr Andrew Wilson decreed the boom-time results of recent years have now clearly ended.
"Although home prices are now falling, the underlying drivers of the Sydney housing market remain positive with strong migration, a robust local economy and an underlying chronic shortage of homes," Dr Andrew Wilson, the Domain senior economist added.
The national auction clearance rate held firm, buoyed by stronger results across the Melbourne and Canberra housing markets, according to CoreLogic.
There were 2,497 auctions held across the combined capital cities, up from 2,318 last week.
So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 per cent, increasing from last week when the final clearance rate slipped to 64.4 per cent, the lowest clearance rate since January 2016.
Over the corresponding week last year, auction volumes were similar, with 2,443 properties taken to auction, while the clearance rate was stronger at 76.2 per cent.
Melbourne's 74.8 per cent success rate was the nation's strongest, followed closely by Canberra on 74.5 per cent. 
Melbourne was host to 1,208 auctions and with 1,042 results sits above the prior weekend's final clearance rate of 70.3 per cent.
At the same time last year, Melbourne’s clearance rate was 77.7 per cent across 1,182 auctions.
Of the Melbourne sub-regions, 6 of the 9 regions recorded clearance rates above 75 per cent.
Melbourne's top sale was $6.37 million at Middle Park. <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126443678" target="_blank">The 307 Beaconsfield Pde offering</a> was sold without heritage overlay through Greg Hocking Holdsworth agent Simon Gowling.
Both the Inner South and the North West Melbourne regions recorded a preliminary clearance rate of 78.8 per cent this weekend, followed by the Outer East region where 76.7 per cent of auctions cleared.
 
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Race to buy Newmarket Randwick off the plan highlight of weekend sales

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Property developer Tim Gurner says demand from investors has "stopped, not just slowed."
He told The Australian Financial Review that a drop off in Chinese off-the-plan investors would reduce supply of new apartments - and mean that prices and rents would go up.
"We need 16,000 new apartments a year in Melbourne and this will be the first year we meet that target. But we'll only get 5000 next year," he said.
With demand from investors having stopped, following the recent removal of off-the-plan stamp duty concessions, Mr Gurner said he was happy to be now developing apartments for local owner occupiers at the high end of the market.
He said downsizers had been the most significant demographic shift into the new apartment market that he had seen as a developer in recent times.
He has a $65 million Toorak development.
Prices in Mr Gurner's six-level Hawksburn Village project will start from $1.1 million for a two-bedroom apartment rising to more than $3 million for a three-bedder and over $10 million for the biggest 400 square metre-plus top floor penthouse. 
The project at 162-164 Williams Road, which recently received planning approval, is being developed in partnership with landowners the Smorgons whose Escor Group occupy premises on the site.
There will be 22 apartments plus ground floor commercial space to be occupied by Escor Group alongside an upmarket wine bar.
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Melbourne apartment investor demand has stopped, not just slowed: Tim Gurner

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Around 14 buyers who bought apartments off the plan in a tower in Sydney's south-west at discounted prices are now facing the loss of their investment.
It comes after the developer defaulted on a loan from a British Virgin Island lender.
The home buyers, described by the Australian Financial Review as mostly Mandarin speakers, all with Chinese names, are considering legal action.
It comes after Hua Cheng International Holdings Group, the developer of the 100-unit Royal Plaza property in Woodville Street, Hurstville, defaulted on a loan to Chinese-backed Super Vision Resources.
In July, Super Vision appointed Ernst &amp; Young and Hall Chadwick as receiver and liquidator.
They have now seized the 14 apartments that were purchased off the plan at a big discount, along with another 16 unsold apartments. 
The property know as 2 Barratt St and 18-22 Woodville St, Hurstville.
When the 14 buyers paid for their discounted apartments in 2013, they paid for them in full, but did not received title. 
Some of the buyers hired lawyers before they bought the apartments and were warned not to buy them.
Lawrence Xu, the chief executive of Hua Cheng, told the paper that he was unable to get development and construction finance from the big four local banks but found $35 million from British Virgin Islands registered Super Vision. They agreed on a interest rate of 15 per cent.
Super Vision is a subsidiary of the state-owned Chinese financial services firm, China Orient Asset Management Corporation, based in Beijing.
Mr Xu blamed the lender for the default, the AFR reported.
He ran into cost overruns and the funds that arrived five months late.
Paying down the loan to Super Vision, Hue Cheng said that in 2013 it sold 14 two-bedroom apartments at a discounted price of $450,000 to the 14 Chinese buyers who paid upfront. 
The normal sale price was $650,000 to $700,000 each, World Square Property Group said.
The buyers said they were looking at the role of both the lender and the developer in this mess. 
"We want to chase these two parties for justice," one buyer said.
Interest rates vary depending on the risks of projects from standard rates of about seven per cent for apartment loans up to 20 per cent for development loans.
The receiver and liquidator declined to comment.
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