Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Samuel Property

Louise Melbourne, the striking Samuel Property-developed, Cera Stribley-designed apartment project just off Albert Park, has hit a major milestone.

The 16-level development, which launched last year, is now 70 per cent sold, after a strong run of sales in the first half of 2023.

Blair Property Group's Darren Blair, who is exclusively marketing Louise, says the majority of apartments have been snapped up by downsizers.

"Every purchaser from level 10 and above is a downsizer," Blair says.

"They picked up all of the big apartments on the sought-after north west corner, which will offer the best views in the building."

[smartcode_project:default project_id=112174 project_image_fid=199592]

Blair says there was a big run of sales to downsizers and owner-occupiers toward the back end of last year, and that's spilled into 2023.

"Buyers are starting to see some positives in the market in 2023", Blair notes.

"There's also a large cohort&nbsp;who are wanting to completely exit the rental market, as prices continue to trend upwards."

The diverse product mix in Louise, a mix 89 one, two and three-bedroom apartments, has seen a diverse number of buyers come through the door.

[smartcode_project:default project_id=112174 project_image_fid=199599]

Blair has said investors are slowly starting to come out of the woodwork, primarily from overseas, as local investors wait to see the RBA's next move.

The development team, led by prominent developer Samuel Property, are also well advanced in their construction phase. They're hoping to start demolition of the block of 1950s flats on the 1224 sqm site in March, with the aim of commencing construction on Louise in May.

Well regarded builder Hamilton Marino will be in charge of construction.&nbsp;

"They're a well versed builder with a good name in the market, which will breed further confidence for buyers," Blair added.

[smartcode_project:default project_id=112174 project_image_fid=199597]

Prices start at just over $500,000 for the one-bedroom apartments in Louise Melbourne, and $719,500 for the two-bedrooms.

Aptly named Louise, the site is&nbsp;situated on the north-west corner of Louise Street and Queens Lane, and is a nod to the surrounding art deco architecture, blending 1920's design charm with the sensibilities of modern urban living.&nbsp;&nbsp;

There's extensive resident amenity in the building. A swimming pool, which is located beneath a distinctive skylight, forms the heart of a wellness centre, which also features a steam room and a landscaped outdoor terrace that wraps around the communal areas.

[smartcode_project:default project_id=112174 project_image_fid=199646]

There's also&nbsp;a bookable private dining room, which comes with a fully-equipped kitchen, and a private lounge area, which has been designed as a&nbsp;space for more informal get-togethers.

Samuel Property,&nbsp;who since being founded in 2009 by its current Managing Director Illan Samuel, have predominantly concentrated on the high-end boutique owner-occupier market in some of Melbourne's most affluent suburbs.

Their last two projects have been Willow, just 14 apartments in Brighton, and most recently Edition in Toorak, on the dress circle Lansell Road, which has just three house-sized residences.

They have just received approval for 91 apartments across two five-level buildings on Phillip Island.

[smartcode_project_cta:default project_id=112174]

Blair Property Group's Darren Blair, who is exclusively marketing Louise, says the majority of apartments have been snapped up by downsizers.

Louise Melbourne hits 70% sold

The prominent Melbourne developer&nbsp;Samuel Property is taking on something a little different for its next residential project.

They&#39;re set to&nbsp;launch&nbsp;Louise, their anticipated apartment tower just off the sought-after St Kilda Road.

Named after its location at 8 Louise Street, Louise will home 98&nbsp;apartments across its&nbsp;16&nbsp;levels,&nbsp;a maximum of just eight apartments per floor.

The tower will be crowned by a near 600 sqm penthouse with 360 degree views of the city, Albert Park, and&nbsp;Faulkner Bay.

Blair Property Group Founder Darren Blair, who is handling the sales of Louise, says there&#39;s something for everyone at Louise, with one, two, three and four-bedroom apartments on offer.

[smartcode_project:default project_id=112174 project_image_fid=199595]

&quot;We&#39;re expecting everyone from investors and first home buyers interested in the one and two-bedroom stock, to downsizers and owner-occupiers looking at the larger two beds into the three-beds,&quot; Blair says, adding that he expects to be fielding plenty of enquiry from families, as well as those who maybe live down in Mornington Peninsula but want a city pad.

The building is more focused on the owner-occupier, with just over 10 per cent one-bed apartments. Two-bedroom apartments make up two thirds of the building. Blair believes some will get merged to make larger apartments by those seeking a bigger space.

Buyers can purchase in the building from $497,500, with the biggest, higher-level apartments looking to achieve over $11 million.

The location reigns supreme for Louise, just moments from Albert Park and a short stroll to Fawkner Park.

&quot;The project has the best of Melbourne on its doorstep,&quot; Blair adds.

&quot;Where does your $10 Uber take you where you live? From Louise it takes you to the best parts of Melbourne, from the city to Chapel Street and even Middle Park Beach.&quot;

Renowned architects Cera Stribley have handled the design of Louise, with a&nbsp;vision to deliver a building that is more sensitive to the characteristics of St Kilda Road.

[smartcode_project:default project_id=112174 project_image_fid=199598]

The building is in keeping with the surroundings for the first three levels to the podium, a red brick finish paying homage to the current streetscape.

Cera Stribley Managing Principal, Domenic Cerantonio said it was important future-residents of Louise were provided an exceptionally designed dwelling that complemented the well-endowed local area.

&ldquo;Every aspect of Louise has been designed to epitomise quality of life,&quot;&nbsp;Cerantonio says.

&quot;When it comes to apartment living, there are few buildings that offer such an incredible location as Louise. From sunrise to sunset, there is so much to love about the area; parks, beach, city &ndash; the lifestyle here has it all.

[smartcode_project:default project_id=112174 project_image_fid=199602]

&quot;The interior design of Louise is very much inspired by this unparalleled locale, and the Art Deco glamour of the heritage architecture found around the area.&rdquo;

Louise is a change of tact for Samuel, who since being founded in 2009 by its current Managing Director Illan Samuel, have predominantly concentrated on the high-end boutique owner-occupier market.

Their last two projects have been Willow, just 14 apartments in Brighton, and most recently Edition in Toorak, on the dress circle Lansell Road, which has just three house-sized residences.

But they&#39;ve kept the same principles in Louise, focusing on the owner-occupier and creating spaces to be lived in.

[smartcode_project:default project_id=112174 project_image_fid=199603]

The opportunity arose when Samuel secured a block of 1950s flats, on a prized 1224&nbsp;sqm block, for $21 million last year.

Demolition of the flats is expected to commence this year, with construction to start in early 2023. The build is expected to take around two years.

It&#39;s&nbsp;a rare opportunity for buyers to get near the prestigious St Kilda Road precinct, and to buy into a project that while is a large building, isn&#39;t as high density as some of its neighbours.

[smartcode_project_cta: project_id=112174]

The building is in keeping with the surroundings for the first three levels to the podium, a red brick finish paying homage to the current streetscape

Samuel Property set to launch design-driven Melbourne apartments, Louise 

<html><body>
Nine months down and heading into the home stretch of 2015, I feel like a lot of local developers are very much standing on the sidelines. They are just itching to get into the marketplace, but have either been the bridesmaid but never the bride in missing out on their desired sites, or are simply waiting for the market to cool down.

If you refer to yourself as a “developer”, you instinctively have trouble with the above two scenarios. You want to find that next project, but you can’t overpay. Surely the market is about to turn downwards. It has to!

The flow of money from Asia has to stop soon, it can’t keep going on like this forever! Maybe, but maybe not. No one has the magic property 8-ball.

Some have turned to selling existing sites (with or without permits) given how strongly the market has performed, while others have looked at sites interstate or further out from the Melbourne CBD, something they would have never originally considered. Whilst most would never admit it, they are now working to smaller profit margins.

Are there risks in the above? Absolutely. Flipping sites is never easy, and the profits can pale (as do the risks) in comparison to actually developing the end product. Investing in an interstate market can be fraught with obstacles, from using an unknown consultant team, misunderstanding local planning laws, and misjudging the end market based on a lack of local knowledge.

Working to a smaller profit margin also leaves one open to a correction in the marketplace from increased supply (or just a stalling of appetite) on end residential values or the mercy of builders/construction cost. If the margin gets too tight, that will trickle onto lenders viability to lend against the project, no matter how maybe boxes may be ticked to de-risk.

<h2>What other issues are we seeing?</h2>

Obtaining planning permits is getting more and more challenging to forecast from a time/cost perspective. Local councils in the middle or outer ring of Melbourne are struggling to keep up with applications and the ability to correctly vet them. Many are simply deemed too hard in unknown GR zoned land, and have refused to let VCAT make the decision.

I’d also suggest there are some political benefits in this approach given heavy local objector groups in some municipalities. In the inner city, the backlog with the Planning Minister is still significant from all reports. Is there a risk of a bottleneck, or Melbourne becoming just “too hard”?

We might find out if overseas developers don’t make repeat purchases, or a few local developers come unstuck working to lower margins.

Local buyers are also becoming more sophisticated in every respect. Where location has traditionally been “King”, a smart floor plan is now “Queen”; and buyers want both! A one bedroom apartment can be sized at 52 sqm with an outdoor area, but if the kitchen is stuck in a dark corridor or the living space is too narrow to accommodate a couch, coffee table, and TV unit, be prepared to be left with that stock at settlement unless heavily discounted or sold wholesale.

Developers really need to push architects to create usable spaces whilst balancing yield requirements. Too often a developer can get caught up with profitability, and that is of course important. But it is also important to realize an actual profit and not carry compromised stock. Your last stock sold is often your profit.

Also, selling apartments off the plan is more sophisticated than ever before, predominantly due to the quality of 3D renders which often reflect a kitchen or bathroom buyers might have been used to seeing in “The Block”. It’s great that the marketplace is pushing quality, but this comes at a cost.

I am certain buyers expect the finished product to look like the marketing render, regardless of how many “artist impression” disclaimers might appear in the bottom corner. Everyone loves putting in some feature joinery or a nice pendant, and it should also be in the apartment at settlement.

Do I still think there are opportunities in the marketplace? Without a doubt. Samuel Property have sold two development sites (one with and one without a permit) this year, two developments have been sold out off the plan, and we’ve purchased five other parcels for development. Property is supposed to be long term and safe, whilst the stock market is supposed to be fluid and liquid.

But in the current 2015 marketplace, I see some similarities. If you intend to be active, you need to be willing to be nimble, do your due diligence, act with conviction as you read the market, and be comfortable with the high risks associated with your project.

Whatever comes in 2016, it won’t be the same as 2015.

Illan Samuel is the Managing Director of <a href="http://www.samuel.com.au/">Samuel Property</a>.
</body></html>

LittleGeneral

Don't just stand there, buy something!

<html><body>
One of the major changes to planning during the term of the last Victorian Government was the implementation of <a href="/news/planning-minister-approves-new-residential-zones-in-39-victorian-lgas">new residential and commercial zones</a> right throughout <a href="/news/planning-minister-approves-new-residential-zones-in-39-victorian-lgas">metropolitan and regional areas</a>.

The new planning zones were designed to provide clarity to the community and also to developers in order for them to make investment decisions with a clear understanding of what can be built on the sites they purchase.

One developer which is working away in the General Residential and Residential Growth Zones is <a href="http://www.samuel.com.au/">Samuel Property</a>.

To date Samuel Property have begun development of two projects: Vela in Blackburn and Lennox Glen Iris. Apartments.com.au recently chatted with Illan Samuel who is head of the company and some interesting planning anecdotes came out of the conversation.

<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/lennox.jpg" rel="gallery-all" title="Lennox Glen Iris. © Samuel Property"><img alt="" class="image-article-full-width-580px" height="337" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/lennox.jpg?itok=XRuU3Ah1" title="Lennox Glen Iris. © Samuel Property" width="580"></a>

<figcaption>Lennox Glen Iris. © Samuel Property</figcaption></figure>Lennox, located at 25 Belmont Avenue North in Glen Iris, was initially targeted at the downsizer market and four weeks out from kicking off the marketing campaign for the project, a decision was made to switch direction and target young professionals.

All 20 apartments were sold in 4-5 weeks and it attracted “very much a hyper-local buyer pool - young people who were either renting or originally grew up in the area - and no offshore buyers” according to Samuel.

Illan Samuel told Apartments.com.au that development sites in side streets right near main strips are preferred; buyers like being close to the action but not directly on the main drag as it were. Lennox in Glen Iris and Vela in Blackburn fit this bill.

Take this <a href="http://planningschemes.dpcd.vic.gov.au/__data/assets/pdf_file/0007/194614/whitehorse02zn.pdf">map of zones</a> for the Blackburn area in Whitehorse, Vela Blackburn as seen in the render below is located at 4 Station Street, just off Whitehorse Road and right inside the <a href="http://planningschemes.dpcd.vic.gov.au/schemes/whitehorse/ordinance/32_07s03_whse.pdf">RGZ3</a> zone. Lennox in Glen Iris located at 25 Belmont Avenue North comes under <a href="http://planningschemes.dpcd.vic.gov.au/schemes/stonnington/ordinance/32_08s10_ston.pdf">GRZ10</a> according to <a href="http://planningschemes.dpcd.vic.gov.au/__data/assets/pdf_file/0007/191743/stonnington06zn.pdf">Stonnington zone maps</a> for Glen Iris.

<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/apartments4.jpg" rel="gallery-all" title="Vela Blackburn. © Samuel Property"><img alt="" class="image-article-full-width-580px" height="330" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/apartments4.jpg?itok=7vqlzmIm" title="Vela Blackburn. © Samuel Property" width="580"></a>

<figcaption>Vela Blackburn. © Samuel Property</figcaption></figure>Vela in Blackburn, like Lennox in Glen Iris, has sold out of its 24 apartments and Illan told Apartments.com.au the sales campaign drew in a lot of local buyers.

As is the custom when Apartments.com.au asks developers about future plans, there was a lot of coyness, but Illan did tell us that a similar profile development - side street just off a main strip in RGZ or GRZ - is currently at planning in Glen Eira.

Vela in Blackburn is already under construction and Lennox Glen Iris is set to commence construction in October.

<h2>Comment</h2>

There is still, no doubt, scope to improve the planning zones further. For instance, encouraging (forcing?) councils to apply them to more areas in their LGA and experimenting with other "carrot or the stick" tools like density bonuses which might allow developers to build an extra level in exchange for affordable or social housing components in developments located in any General Residential or Residential Growth Zone.

Regardless, it is encouraging to see capital seek out these development opportunities and from early-adopter and entrepreneurial developers as well; as it is the little things, built in high volume, that are going to count over the long run if Melbourne is to reach the goal of diversifying its residential stock as we grow over the coming decades.

Lead image credit: Lennox Glen Iris location, <a href="http://www.lennoxgleniris.com.au/video">Samuel Property</a>.
</body></html>

Samuel Property

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Samuel Property

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News