The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

Joel Robinson

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

<img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" />

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;

From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.

With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212888]

The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.

JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.

Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;

Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.

[smartcode_project:default project_id=139989 project_image_fid=267376]

For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.

The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.

Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.

With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.

[smartcode_project_cta:default project_id=139989]

JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

A subtropical pair of residential towers are in planning for a key South Brisbane site neighbouring the iconic Expo ’88 Skyneedle, with new documents revealing a vertically layered vision designed to respond to the precinct’s evolving high-density character.

The proposal has been lodged by&nbsp;Darveniza Group, which is also is behind the 400-apartment Station Quarter precinct in Alderley.

Darveniza Group, led by Jane Darveniza, the Brisbane-based investor and Queensland rich-lister and widow of the late property magnate Bojan Darveniza, is seeking approval for a mixed-use project encompassing 204 apartments, ground-level retail, food and drink tenancies, and office space across two architecturally integrated towers at 37–39 Manning Street.

Occupying an 1,822 sqm site, the proposed towers would rise above a sculptural podium base, with a recessed landscaped centre, rooftop communal areas, and a total of 220 car parks and 256 bicycle bays. The apartment mix spans one- to five-bedroom dwellings, with a design emphasis on generous balconies, cross-ventilation, and climate-responsive materials.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="42c1f501-2afd-440b-af49-67c257123ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20podium.png?VersionId=KFlksfWzmDRD.VIYxd_1q3VAel.nN3TH" />

“The development is conceived as two slender twin buildings that meet at a lushly landscaped central recess,” the Finegrain design report states. “The façade is highly articulated with the plan form stepping back and forth to reduce visual bulk and maximise internal occupants’ access to natural light and air”.

A hallmark of the proposal is its integration of greenery, both visually and functionally. Around 77 per cent of the site’s green plot ratio is delivered through vertical planting spines, a green podium wall, and rooftop amenity. Ground-level deep planting and landscaped communal zones aim to create a shaded, walkable interface along Manning Street.

“The stepped plan form introduces variation in balcony setbacks and enclosed apartment areas, enriching both the façade expression and the resident experience,” the design team notes. “At ground and podium levels, this stepping also enhances permeability, maximising pedestrian view lines to the neighbouring Skyneedle and reinforcing a strong sense of local identity”.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="b3f26dfc-6b93-465c-9ffb-0a2530372a23" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20site.png?VersionId=JflvKdqDxcaHTFbb9HL5TwoiRgeQ2LqA" />

The site directly adjoins the heritage-listed Skyneedle at 35 Manning Street, an enduring legacy of World Expo ’88. The accompanying heritage impact report by Pendergast Architects contends that the proposal has been carefully conceived to protect the cultural significance and landmark visibility of the structure.

“The design provides setbacks, tower separation and podium articulation to maintain the visibility and landmark role of the adjoining Skyneedle,” the report states. “The significance of the Skyneedle lies principally in its landmark visibility and cultural symbolism, rather than in detailed fabric or architectural setting”.

The proposal sits within the Kurilpa Sustainable Growth Precinct, under Brisbane’s TLPI 02/2023, where revised planning controls support high-density, mixed-use development integrated with subtropical design and increased public realm contributions.

Finegrain’s design reflects this intent, drawing cues from the site's adjacency to Musgrave Park, the subtropical landscape of South Brisbane, and cultural landmarks such as QPAC and South Bank.

Twin green towers proposed for Manning Street, South Brisbane site beside Skyneedle

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>
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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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