South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

Student Housing

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GUEST OBSERVATION
The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">arrival at Darwin airport</a> on Monday of 63 students from China, Hong Kong, Japan, Vietnam and Indonesia on a charter flight from Singapore ended an eight-month hiatus in international student arrivals in Australia. They are now in the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-27/nt-chief-minister-covid-cap-on-international-arrivals-doubles/12927552">Howard Springs quarantine facility</a>.
Quarantine capacity is a major issue, given the <a href="/news">numbers of international students</a>. Using student accommodation to quarantine newly arrived students is a way to increase this capacity. <a href="https://www.ahuri.edu.au/research/research-papers/enhancing-the-design-quality-of-purpose-built-student-accommodation">Our research</a>, released today, shows this could be important for solving the quarantine issue.
But shouldn’t Australians get priority?
Over the years we have become accustomed to hundreds of thousands of young learners crossing our borders. In airport arrival halls incoming international students rubbed shoulders with Australian students returning from exchanges, study tours and internships. In departure lounges departing international students, with perhaps some hints of an Australian twang in their accents, mingled with Australian students setting off on their big adventures.
Despite student mobility being a normal feature of modern Australia, it was inevitable “Australians first” critics would deride the arrivals. Tasmanian Senator Jacquie Lambie <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">said</a> she found the student quarantine program “sickening”.
The Department of Home Affairs <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">said</a> the students arriving in Darwin were in addition to the government’s <a href="https://www.smartraveller.gov.au/news-and-updates/limits-passenger-flights-australia">returning passenger caps</a>. And that is the way it should be. Just as international students do not displace any local students from university places, it is important their arrival does not delay the return of Australian citizens and permanent residents.
All Australian states are considering plans to create secure corridors for students to return for the 2021 academic year. Universities, schools and colleges across the country are planning for their return, albeit with some online learning continuing to allow for social distancing on campus. The Commonwealth has sadly remained lukewarm on the states’ proposals to date. 
Student housing provides an answer
The investment in purpose-built student accommodation over the past decade has been enormous.
Our research identified nearly 67,000 beds in this form of accommodation in Australia’s capital city CBDs alone. The <a href="https://www.propertyobserver.com.au/https://studentaccassoc.com.au/news/9376655">Student Accommodation Association</a> estimates there are over 95,000 beds Australia-wide. Major developments are due to open soon that will swell those numbers.
As well as dramatic increases in scale, the character of this purpose-built accommodation has changed significantly. Older student dormitories are relatively small and closely affiliated with universities, religious orders and other not-for-profit organisations. The newer commercial developments are large-scale properties, usually in city centres.
According to City of Melbourne data, between 2011 and 2018 the average height of purpose-built student accommodation increased from five storeys to 24. The average number of beds increased from 82 to 579! The largest planning application for a new property in Melbourne comprised 901 beds across 49 storeys, while the tallest building is 63 storeys with 740 beds.
A large proportion of these beds are now sitting empty. These facilities provide an ideal means for developing parallel pathways for these students to return to Australia without using existing channels for repatriating Australians. Whole buildings with hundreds of beds could easily be dedicated to housing the international students waiting to begin or resume their studies here.
How would student quarantine work?
The design of these buildings varies considerably. Authorities would be able to choose from many different bedroom and communal space configurations.
At first, it is likely quarantine authorities will want students to be kept in isolation for 14 days, so student apartments with their own kitchenettes and bathrooms are likely to be chosen. Over time, as confidence builds and systems to manage risks are refined, small clusters may be possible, using buildings in which several rooms share a kitchen and living space.
In either model, student accommodation properties are better suited to quarantine than hotels. They already provide pastoral care, security and staff attuned to the needs of newly arrived young people as a matter of course.
They should have no trouble implementing rigorous quarantine requirements to ensure no further outbreaks are caused by contagion through support staff, as has occurred in other contexts in Melbourne and Adelaide. Staff would have minimal contact with student residents. Meals could be left at the door, and rubbish collected at the door.
Staff and education providers could deliver support services by phone and video. Many universities are already providing daily exercise classes and arranging virtual meet-ups. These programs could easily be tailored to students in quarantine.
We have learned much this year about how to reduce the risk of transmission from incoming travellers. We know contact between quarantine workers and the broader community poses a serious risk. Thus, most staff working in student quarantine facilities would likely live on site. The scale of the newer properties makes this easy to implement.
Risks can be further reduced by arranging direct flights from a city with few cases to an Australian city where the students are transported directly to one facility, thereby avoiding flight transfers in busy hub airports. Testing would be required prior to departure and again before leaving quarantine. Staff would be tested regularly.
Students and education providers cover costs
These arrangements need place no burden on the Australian community. The Darwin model, in which students pay for their flights and the university covers quarantine costs, seems like a reasonable split.
 
Curiously, Charles Darwin University was not the first Australian university to organise charter flights and dedicated quarantine arrangements for students. In September, <a href="https://www.rmit.edu.vn/news/all-news/2020/sep/rmit-vietnam-students-returned-home-through-bamboo-airways-partnership">RMIT chartered a flight</a> from Melbourne to Vietnam to return 270 people, including many students from RMIT’s Vietnam campus who had been on exchange in Melbourne when the virus hit, as well as RMIT staff and business partners. A second RMIT charter flight from Melbourne landed in Da Nang on November 28.
Australia’s international education sector has the capacity to manage such logistics. Our universities have extensive experience in moving tens of thousands of students around the world every year. Our accommodation providers have huge capacity in new facilities specifically designed for students.
Expanding parallel pathways for students to return to Australia need not interfere at all with the return of Australians.<img src="https://counter.theconversation.com/content/150180/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/christopher-ziguras-956941">Christopher Ziguras</a>, Professor of Global Studies, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tom-alves-1183729">Tom Alves</a>, Head of Development, <a href="https://theconversation.com/institutions/australian-housing-and-urban-research-institute-1038">Australian Housing and Urban Research Institute </a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-unis-can-use-student-housing-to-solve-international-student-quarantine-issues-150180">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

How universities can use student housing to solve international student quarantine issues

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A 17-storey student housing building at 500 Swanston Street is off to VCAT after the applicant, Journal Property Limited, decided to appeal the matter after City of Melbourne council failed to make a decision within the requisite 60 statutory days.

During its meeting on Tuesday night, the City of Melbourne's Future Melbourne (Planning) Committee resolved that it would have issued a permit subject to conditions, had the appeal to VCAT not been made.

These conditions would have included a reduction in height of two levels taking the overall height down to 15-storeys or approximately 51.5m, which according to Council planners would provide a better transition between Upper House to the north (17-storeys), Arrow on Swanston Street to the south (12-storeys) and The Eminence (15-storeys) to the north-east.

<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/swanston_street_elevation.jpg" rel="gallery-all" title="Amended Swanston Street elevation dated March 2018. Image: Metier3 Town Planning documentation"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/swanston_street_elevation.jpg?itok=fKJ22BUL" title="Amended Swanston Street elevation dated March 2018. Image: Metier3 Town Planning documentation" width="580"></a>

<figcaption>Amended Swanston Street elevation with reduced height (March 2018). Image: Metier3 Town Planning documentation</figcaption></figure>This would reinforce Upper House's prominence on the corner and ensure that the proposed tower is not as prominent when viewed from Swanston Street, argues Council. Additionally, Council would have required levels 11 and above to be reconfigured to increase the setbacks from the southern boundary reducing their dominance and bulk further.

Increasing the setbacks will also improve internal amenity for student accommodation modules and improve the external amenity impacts by creating a greater separation from surrounding residential properties.

Council's planners provided their appraisal based on plans prepared by Metier3 in November 2017, which were subsequently amended in March 2018 with the following changes:

<ul>
<li>Deletion of levels 15 and 16 to reduce the overall building height by two levels to 15 storeys;</li>
	<li>Increased setback of Building D upper levels (11-14) from the south boundary to provide a 9m setback from the Arrow building, as well as reducing the overhang to allow more natural daylight to lower levels of accommodation;</li>
	<li>Introduction of light wells to Building D upper levels (11-14) to allow for improved natural light and ventilation to hallways on levels 11 to 14;</li>
	<li>The removal of rooms to allow for two additional windows per level to improve natural light and ventilation to hallways in Upper Mezzanine to level 10;</li>
	<li>Deletion of all 13 rooms in the lower mezzanine to remove all rooms with restricted daylight access. Part office and communal areas relocated to this space allowing for the deletion of basement.</li>
	<li>Introduction of four rooms to ground floor. Two twin share rooms added to ground floor made possible as result of the consolidated office space spread across two levels. Rooms were introduced to offset 13 rooms deleted from lower mezzanine below as these four rooms have adequate access to natural daylight;</li>
	<li>Deletion of basement;</li>
	<li>Deletion of east-west facing windows on northern boundary;</li>
	<li>Rationalised internal communal space to levels 10 and 11 to allow for additional rooms;</li>
	<li>Relocation of bike store to ground floor to enable direct access off building entry/street level;</li>
	<li>Overall reduction in number of beds from 710 to 587;</li>
</ul>
The original plans included three building elements providing 710 student accommodation units via a mix of studio, two-bed, three-bed, four-bed and five-bed units.

A food and drink, and two retail tenancies are located at the ground level, while the basement would contain a laundry, workshop, storage for 80 bicycles, and building services.

The lower ground will largely accommodate communal student areas including two landscaped courtyards, lounge, communal and private study areas, kitchen and dining area, entertainment, well-being and gym areas and gaming room.
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Laurence Dragomir

500 Swanston Street off to VCAT - City of Melbourne provides conditional support

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The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/15/SavillsSH.png" alt="">
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Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
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Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
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Australia leads in student housing yields: Savills

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SPONSORED POST
Where once it was a niche investment, student accommodation has now become a global asset class.
According to the latest Savills World Student Housing Spotlight, 2015 was a record year for investment in student housing with US$14.9 billion invested globally in the sector.
The Local Market - Australia
The Australian market continues to attract significant attention and is a particularly popular destination for international students. Students from China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.
With Australia featuring in the list of favoured destinations in the world’s top outbound markets for international students, plus a fast-growing domestic population, student numbers have risen 37 percent in the last eight years. With 30 Australian institutions appearing in the top 750 of the QS World University Rankings, up from 25 in 2012, demand is likely to continue and, as a consequence significant new stock will be required.
The strong growth potential in Australia is set against a general shortage of supply; at the moment there is only enough purpose-built student accommodation (PBSA) available to accommodate 6 percent of the student population. In response, more than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015.
Around the World
The Savills World Student Housing Spotlight has found that cross border investment in this fast maturing asset class accounted for 40 percent of all global investment activity. International investors who are seeking to diversify their portfolios have been attracted by the fact that US and UK student housing REITs have outperformed their All REIT indices by 19 and 16 percentage points respectively.
The first half of 2016 has seen lower total global volumes compared with 2015, but in mainland Europe investment levels have continued to rise off a low base. By the end of July, German student housing had attracted €350 million of investment – more than double the total invested in the whole of 2015 – while in France €345 million has been transacted in the year to August 2016.
<a href="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" target="_blank">Click to enlarge</a>
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Investors have been attracted by mainland Europe's strong investment potential. Its combined student population of 20 million, and the very low provision in some markets of purpose-built student accommodation (PBSA) despite growing demand from international students attracted by an increasing number of courses taught in English, place it on an upwards trajectory.
A Resilient Asset Class
Growing international student numbers are therefore set to secure the market for a premium PBSA product, but there also remains a huge untapped market for more affordable private accommodation. High land values and development costs will impede this in many markets, but upgrading of existing university stock or establishment of new models may be a route in.
In either case, student housing has proven itself to be a resilient asset class and, with its counter-cyclical fundamentals, many institutional investors will continue to turn to the sector where they can achieve strong occupancy and rental growth.
To learn more about the trends in the current student accommodation market, view <a href="https://www.savills.co.uk/research_articles/188294/207929-0" target="_blank">Savills World Student Housing Spotlight 2016</a>.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills student accommodation services, visit <a href="https://www.savills.com.au/services-and-sectors/student-accommodation.aspx" target="_blank">savills.com.au/studentaccommodation</a>.
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The rise – and rise – of global student housing investment

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Australia is a popular destination for international students, particularly from Asia.
China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.
Total higher education enrolments grew by 2.7 percent over the same period. 
Growing demand is set against a general shortage of supply. The provision rate stands at 6 percent, which is low compared to mature markets such as the UK at 24 percent. In response, a number of universities have commenced on-campus procurement projects and private operators are rapidly expanding their pipeline. 
<a href="/images/2016/10/11/Outboundmarkets.jpg" target="_blank">Click to enlarge </a><img src="/images/2016/10/11/Outboundmarkets.jpg" alt="">
More than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015. The top ten providers currently own a total of 20,136 beds and have a combined development pipeline of 15,469, representing an increase of approximately 75% on their existing stock. 
Scaling up on new delivery presents challenges. Competing land uses, particularly from a strong residential sector, have pushed up land values and made development for PBSH unviable in some markets, most notably Sydney. 
Federal and state governments have recognised the shortage as a limiting factor in the future development of the country’s higher education sector (already Australia’s third biggest export, after iron ore and coal), and a number of strategies to enable new development are in the pipeline. 
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As an emerging market for student accommodation, transactional activity is limited as completed assets are generally tightly held. Savills research indicates there were just two transactions of operational residences totalling nearly AU$90 million in 2015. 
In 2016, Infratil (HRL Morrison) secured a 30 year concession of ANV’s portfolio of 3,760 beds and UniLodge @ UNSW was transacted at a net initial yield of circa 5.6 percent. 
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Australia's student housing plays catchup to meet foreign students influx: Savills

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The high quality of Australia’s universities is a major drawcard for international students, but accommodation availability is just not keeping up with supply in Sydney.
In the latest rankings, Sydney University sits on The Times Higher Education top 100, giving the long established international rivals a run for their money. It came in ranked at 61st in the world. The University of NSW joins Sydney among the universities in another ranking, the QS top 100. 
Australia's international student population continues to grow at a double digit rate, recent research from the estate agency, Savills International.
The OECD noted this reflects an international trend of student mobility when they reported more than four million international students were enrolled in tertiary education outside of their country of origin in 2013, an increase of 50 percent from 2005 levels.
Australia hosted the third largest number of international students at 6.2 percent in 2013, behind the US and UK at 19.4 percent and 10.3 percent respectively.
Sydney's standing contributes to robust demand for international student accommodation. 
New South Wales, then Victoria and Queensland have the greatest number of enrolments. 
NSW has around 327,000 domestic higher education students with another 93,000 international students.
The top nationalities, China, India, Vietnam, Republic of Korea and Malaysia. 
Chinese students provided over 27 percent of the total number of international students in Australia in 2015. 
Australia ranked as the third most popular destination for Chinese students (12.1 percent) after the US (33 percent) and Japan (12.3 percent). Australia was also third most popular for students from India after the US (48.2 percent) and UK (11.5 percent).
This has made property investors, institutional and private, move beyond the traditional property markets into student accommodation where the fundamentals are strong.
Some five percent of students are in university accommodation, five percent are in commercial accommodation with 90 percent renting privately or living at home.
At the moment there is a "critical undersupply" of appropriate Purpose Built Student Accommodation (PBSA) in Sydney, Savills Sydney student accommodation director Conal Newland said..
The high occupancy levels, robust revenue growth and attractive yield pricing make student accommodation is an attractive investment, he concluded.
The result of the growing levels of investor activity has meant that the student accommodation market is changing rapidly. 
Savills research indicates that more than $2 billion of capital has been earmarked for development projects across Australia since the start of 2015. 
Several new institutional investors have entered the market including Blue Sky Private Real Estate, Cedar Pacific, Global Student Accommodation, Scape, Valparaiso and Wee Hur. They have joined the likes of Unilodge, best known for their Central Park, Chippendale offering.
There are currently 67,695 PBSA beds in the eight Australian capital cities. All cities have an existing supply of less than 12 percent per full-time student with the exception of Canberra's 27 percent.
Melbourne and Brisbane have the largest development pipelines.
Sydney has a limited pipeline over the next four years with an additional 3,665 beds, of which around 38 percent are proposed by universities.
Savills nominated Urbanest as the most active off-campus developer with three properties completed since 2015 and another two in development.
Sydney saw 3,200 beds delivered in 2015 with these new properties trading at circa 70 percent occupancy in their first semester of operations.
In 2016 the average occupancy levels are at above 90 percent.
A number of universities, including the University of Western Sydney have commenced on-campus projects.
UNSW has been active delivering new halls of residence at the Kensington Campus in 2014 and 2015.
University of Sydney is an increasing participant – particularly at lower rental levels with the delivery of the Queen Mary building and weekly rents less than $300.
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 Student housing not meeting supply in Sydney

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Investors are moving beyond the traditional core markets and seeking alternative asset classes such as student accommodation where the fundamentals are strong, says the 2016 Australian Student Accommodation Market Report.
Growing investor and undersupply of student accommodation means that the market is changing rapidly. Savills research indicates that more than $2 billion of capital has been earmarked for development projects in student accommodation across Australia since the start of 2015.
Yields
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Current Indicative International Yields 
The following table provides an indication of Net Initial Yields for prime student accommodation investments across several countries with emerging and established markets as at March 2016. The spread of the prime yield to 10-year bond clearly illustrates a lower spread for the more mature and liquid markets of the USA and the UK. 
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Australia 
Net Initial Yields in Australia have remained relatively static over the last 12 months, primarily due to the lack of transactional evidence. There is strong sentiment to suggest that yields are in a downward cycle, given the weight of capital that has entered the market and also the spread of current yields to the 10-year bond rate compared to more mature transaction markets. 
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The following table indicates the current net initial yields for Australia in 2016:
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