A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

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The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

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The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

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Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

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The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

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Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

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Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

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For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

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The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

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Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

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Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Paramount on Parkes

The leading Western Sydney apartment developer, ALAND, has seen a sharp pick up in investor sales in the last quarter.

At their Parramatta tower, Paramount on Parkes, ALAND&nbsp;saw a 54 per cent uplift in purchases by investors over the last quarter, with&nbsp;ALAND's Chief Executive&nbsp;George Tadrosse saying that&nbsp;demand for quality affordable apartments in Sydney is outstripping supply, which is good news for savvy investors and homebuyers seeking solid future growth.

"There will be very little stock coming onto the unit market over the next 24 months and that is largely due to increased government red tape and increased demand from several buyer types," Tadrosse said, suggesting that those who wait might find themselves out of options.

“Demand for units is high as rising interest rates encourage domestic buyers to shift their focus to the apartment market.

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"But now that international borders have opened up, apartment purchasers will also have to face competition from foreign residents who may be looking to rent or buy in Sydney,” Tadrosse said, adding that the two-fold demand was especially good news for investors.

Located at 14-20 Parkes Street Harris Street, Paramount on Parkes offers a mix of one, two and three-bedroom apartments across a 39-level building, along with a resort-inspired pool with a 300 sqm terrace and barbecue area, lush landscaping, and residents’-only children’s play areas.

Construction is well underway on the project and completion is slated for late 2023.

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The supply shortage is only set to be exacerbated by the recent announcement to raise the home loan deposit scheme threshold to $900,000 this coming July allowing more first home buyers and first-time investors to enter the market while they can.

While this month’s interest rate rise has given both owner-occupiers and investors pause for thought, Sydney’s unit market remains strong and is shaping up as a popular space for homebuyers, investors and renters alike

“For owner-occupiers, a rate rise can feel more onerous but for investors, it is far less concerning as the interest component of an investor loan is largely tax deductible. We may see a lift in asking rents as interest rates increase, as landlords look to offset any additional expense,” said Tadrosse.

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“The good news for owner-occupiers is that lending policies have accounted for an inevitable rate rise to help future proof the serviceability of loans,” he added.

New data from CoreLogic supports the strength of the apartment market, indicating rents are now outpacing those of houses. In its latest Quarterly Rental Review, CoreLogic showed national unit rents have bucked the trend seen since May 2019 and actually rose at a faster pace than national house rents over the first three months of 2022, recording a quarterly growth of 3 per cent while houses only increased by 2.4 per cent.

Similar to the national results, unit rents in the combined capitals also outperformed house rents over the first quarter, increasing 3.1 per cent compared to 2.2 per cent. According to the CoreLogic report, the median Sydney unit rent by the end of March was $546 a week, an 8.3 per cent change over 12 months.

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Compared to the previous quarter, gross rental yields for units also rose across Sydney, up 2.3 per cent during the quarter to 3.1 per cent.

Bianca Anton, General Manager of ALAND, said switched on investors are realising the true value of bricks and mortar as a long-term strategy and see units as the more affordable path to that financial freedom.

“Buyers are becoming more educated about the pending gap in their wealth creation so are looking for ways to ride the apartment price wave as far as possible. And with only a limited amount of new apartments available in Sydney right now, it really is a race of ‘first in, best dressed’ especially for those seeking to secure quality property,” she said.

Developer ALAND reveals investor sales soar as demand drives up rental yield

ALAND see apartment investors pour back into to Sydney's west

Pent up demand in Sydney has been released at Paramount on Parkes in Parramatta, one of the first apartment buildings to launch sales since Sydney came out of its prolonged lockdown.

The launch of sales at Paramount on Parkes, the 39-level tower&nbsp;to be developed by the well respected and local developer ALAND, saw 25 sales secured over the weekend, with a further 60 appointment scheduled.

ALAND released the first 135 apartments of the 294-apartment tower, designed by Sketch Design Group and Stanisic Architects, which were&nbsp;a hit with investors and owner-occupiers.

They were drawn to Paramount's prime location on the fringe of Parramatta, a stones throw from Parramatta train station&nbsp;and minutes from riverside parks, shopping precincts and a number of fine dining restaurants, bars, and cafes.

The spacious floorplans were also a tick for buyers, as well as the state of the art amenities which will include a resort-style pool on the podium level, a 300 sqm rooftop terrace with barbecue area, lush landscaped gardens with local Western Sydney flora, and resident-only children’s play areas.

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Buyers so far have been predominantly young couples&nbsp;and young families in their early and mid 30's, moving to the area from within a 10 kilometre radius of Parramatta.

The first stage will see 10 one-bedroom apartments up for grabs&nbsp;from $573,000,&nbsp;115&nbsp;two-bedroom apartments starting at&nbsp;$767,000, and 10&nbsp;three-bedroom apartments starting at&nbsp;$1.083 million.

ALAND Sales Director, Mark Bernberg, said purchasers are keen to see new supply become available that also represents great value for money.

"Paramount on Parkes has created a lot of buzz among buyers who‘ve spent their lockdown period reassessing what qualities they’re seeking in a home," Bernberg said.

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"Given the excellent lifestyle amenities of this flagship development and its very convenient location, it offers an extraordinary move for homeowners and investors alike."

Each apartment is designed to maximise light and space with floor-to-ceiling windows framing panoramic district views and covered balconies.

Finished with neutral colour palettes so buyers can add their own personal touch, the apartments also have ducted air-conditioning, Fisher &amp; Paykel appliances, Grohe tapware and marble surfaces.

Some apartments come with the option of convenient study nooks and additional storage.

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Head of Development for ALAND, Ryan Lane, said the premium Western Sydney development had been a passion project for the family-run business, which is also the major sponsor of the NRL’s Parramatta Eels.

“With the ALAND name proudly emblazoned on the jerseys of the local team every weekend, we feel that we’ve earned our place as part of the fabric that makes up Parramatta. The launch of Paramount on Parkes now further cements that position,” Lane said.

Lane added that with Parramatta taking pride of place as Sydney’s second CBD, the dynamic destination has become a highly desirable location for both owner occupiers and investors.

“As the geographical heart of Sydney, Parramatta offers its residents a wealth of cultural, educational and employment opportunities. And with the second airport at Badgerys Creek underway, as well as easy access to other transport links, it will soon offer locals even more convenient travel connections,” Lane added.

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Paramount on Parkes is an approximate 10-minute walk to riverfront reserves or the Parramatta Wharf and is a short stroll from the soon-to-be-completed Parramatta Square employment hub and Civic Centre.

There are a number of local attractions, including&nbsp;Eat Street, Riverside Theatre, the Powerhouse Precinct, walking tracks, cycleways and the 85ha of green space at Parramatta Park.&nbsp;Westfield Parramatta is 600m from the doorstep.

In addition to a number of in-demand public and private schools in the vicinity, Parramatta is also home to campuses for the University of Western Sydney and University of Sydney.

ALAND released the first 135 apartments of the 294-apartment tower, designed by Sketch Design Group and Stanisic Architects, on the weekend



Sales surge at launch weekend of Parramatta apartments Paramount on Parkes

The general consensus&nbsp;among property investors is that Parramatta, Sydney's second CBD, continues to be undervalued.

Parramatta is a focal point for economic activity; the&nbsp;$27 billion economy ranking as the third largest in Australia, only behind Sydney and Melbourne.

A&nbsp;commitment to infrastructure has made Parramatta a convenient and well-connected location to work and live in, with the&nbsp;number of jobs within Parramatta’s local government area&nbsp;expected to almost double by 2036.

Some of Australia's leading businesses and government branches are making the leap to Parra with NAB, the&nbsp;Department of Education, Western Sydney University and University of NSW among them.

Parramatta is a hub of connectivity with express trains, frequent bus services and upgrades to the M4 as well as the planned Metro West line.

$3.4 billion has already been committed by the NSW government over the next 10 years to the&nbsp;Westmead Health Precinct, currently&nbsp;Parramatta’s largest employment sector.

The investment potential in Parramatta has property investors enquiring on Paramount on Parkes, the new&nbsp;tower developed by the respected local developer, ALAND.

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Top on a priority list for property investors is the apartment's&nbsp;proximity to transport and local infrastructure.

The 42-level tower of 294&nbsp;apartments is located&nbsp;just a five minute walk to Parramatta Station, and bordering the well-known horse racing spot of Rosehill which lights up on Saturday's with punters.

Prices start from $573,000 at Paramount on Parkes, less than the $610,000 suburb median apartment price. Two-beds range between&nbsp;$767,000 and $922,000,&nbsp;while three-bedroom apartment&nbsp;begin at $1,083,000.

Parramatta's demographic is younger than the average of Greater Sydney, with 46 per cent&nbsp;of residents aged between 25 and 39 years old, according to the most recent census data.

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In 2016, 71 per cent&nbsp;of Parramatta locals were renting, with 84 per cent&nbsp;of all residents living in apartments.&nbsp;

Over the last decade to March 2020, Parramatta apartments have seen six per cent capital growth per annum.

Parramatta is a focal point for economic activity; the $27 billion economy ranking as the third largest in Australia, only behind Sydney and Melbourne.




jordan_55689

Why investors are targeting ALAND's Paramount on Parkes, Parramatta apartments

Paramount on Parkes, the latest apartment tower to hit the market in Parramatta, has been&nbsp;strategically located to take advantage of Sydney's second CBD, but on the fringe of the continually expanding area to give it a sense of freedom from the busy city streets.

The glass-swathed tower, which is being developed by ALAND, the main sponsor of the Parramatta Eels, will rise 39 levels from its Parkes Street address, which puts it closer to four parks and reserves than it does the Parramatta train station.

That itself however is just a 600 metre walk to the west, offering commuters who aren't based in the Parramatta CBD an equally convenient commute to work. Two blocks up from Paramount on Parkes is the Harris St Light Rail stop.

To the east of the building, designed by ALAND's inhouse architecture team, is four reserves, including the popular Queen's Wh​arf Reserve on the banks of the Parramatta River. ALAND designed the building having been inspired by the curves of the winding river.

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The foot of the building itself will offer considerable convenience, with a number of street-level retail as part of the entry, flanking the luxury lobby with grand hotel-style marble finishes and soaring ceilings.

Westfield Parramatta is only 600 metres away, the closest retail precinct.

Nearby is the popular&nbsp;Church&nbsp;Street, a famed foodie haven&nbsp;lined with bars, cafes and restaurants like&nbsp;Alex and Co, El-Phoenician,&nbsp;Mama and Papas, Ray and Lou's, Sicilian Parramatta, The Meat and Wine Co and Coco Cubano.

There are no less than seven schools within walking distance, from Parramatta, Arthur Phillip and Macacrthuth Girls High School's, to Western Sydney University's two Parramatta campuses.

Rosehill Gardens, which comes alive on the weekend, is just a few kilometres east of Paramount on Parkes, and CommBank Stadium is less than two kilometres north-west, where ALAND sponsor the Parramatta Eels.&nbsp;

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That sits beside the 85 Parramatta Park, affectionately called the&nbsp;‘people’s park’ for more than 160 years.

It plays host to sporting fields, playgrounds and The Crescent natural amphitheatre for outdoor concerts and events. It also marks the site of Australia’s first inland settlement, on the Burramattagal’s traditional hunting grounds.

Parramatta River is another local attraction with walking tracks and cycleways including the iconic 20km track from Parramatta to Sydney Olympic Park.

Further infrastructure upgrades are expected in the next few years, with the Powerhouse Precinct to welcome a number of new bars and restaurants overlooking the river in 2023.

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Paramount on Parkes also offers residents a number of on site amenities, including a swimming pool and manicured gardens on the podium level.

There will also be a rooftop terrace with kids play area, a fire pit, and barbecue areas.

The foot of the building itself will offer considerable convenience, with a number of street-level retail as part of the entry

What's within walking distance of a Paramount on Parkes, Parramatta apartment?

Paramount on Parkes,&nbsp;a 39-storey apartment tower in on the fringe of the Parramatta CBD, is the latest development from the respected Sydney apartment developer, ALAND.

ALAND's internal team of architects and&nbsp;designers handled every aspect of the development from top to bottom, and will also deliver the construction of the building,&nbsp;to ensure a high quality apartment tower.

The Australian-owned family company has two decades&nbsp;of experience as&nbsp;a specialist builder and developer delivering contemporary residential projects representing both quality and&nbsp;value.

With a focus on a&nbsp;full-body approach to their developments, Urban has taken a closer look at the floorplans currently on offer at Paramount on Parkes.

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Three Bed | Two&nbsp;Bath | One Car | 107 sqm | from $1,083,000&nbsp;(pictured below)

<a href="/buildings/paramount-on-parkes-harris-park-14-20-parkes-street-harris-park"><img alt="" data-entity-type="" data-entity-uuid="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/pop_3_bed.jpg" /></a>

The apartments feature floor-to-ceiling windows that&nbsp;frame&nbsp;city and district views and&nbsp;capture maximum natural light.

The covered outdoor terrace or balcony acts as an extension of the living room, opening through glass sliding doors.

[smartcode_project:default project_id=9187 project_image_fid=164856]

The kitchens are fitted with Fisher &amp; Paykel appliances, stone benchtops and glass splashbacks, and gold Grohe tapware.

All the&nbsp;bedrooms are designed with a&nbsp;neutral colour palette, with plush carpets and walk-in or built-in wardrobes.

[smartcode_project:default project_id=9187 project_image_fid=164857]

Residents at Paramount on Parkes will also have access to&nbsp;a number of amenities, from the&nbsp;swimming pool and manicured gardens on the podium level to a&nbsp;rooftop terrace and kids play area.

The&nbsp;design of the striking tower was inspired by the meandering Parramatta River.&nbsp;Entry to the development is through a grand lobby, which features soaring ceilings, marble finishes and statement lighting, reflecting that of a luxury hotel.

Construction is forecast for completion by late-2023.

The apartments feature floor-to-ceiling windows that frame city and district views and capture maximum natural light.

Paramount on Parkes

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