Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Surfers Paradise

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Horse owner David Henderson and wife Rhonda have bought back into the Gold Coast market, downsizing to a $3.5 million Surfers Paradise apartment.
They recently sold their opulent <a href="https://www.realestate.com.au/sold/property-house-qld-mermaid+beach-126034226" target="_blank">Mermaid Beach mansion</a> (above) for $16.5 million to Austworld group's Sam Raso and wife Rosa.
The Henderson's built the house in 2010 after paying $4.5 million for the absolute beachfront 1,210 sqm block surrounded by parkland.
Designed by Paul Uhlmann, the Hedges Avenue home had five bedrooms, five bathrooms, a library, gym, sauna, and a mancave with bar.
It came with a Magnesium-chlorinated pool and spa.
It was sold through David's brother Luke, an agent at John Henderson Professionals Mermaid Beach.
When they sold the apartment the Henderson family indicated they did not plan to go too far.
Their new <a href="https://www.realestate.com.au/sold/property-apartment-qld-broadbeach-124901238" target="_blank">Gold Coast bolthole</a> (below) is a 340 sqm apartment spanning the 12th level of the Waterline building.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/15/henderson.jpg" alt="">
There are four ensuited bedrooms.
Michael Kollosche at Kollosche Prestige Agents sold the apartment. 
Henderson was one of the owners of the 2013 Melbourne Cup winner Fiorente.
This article was first published in The Weekend Australian.
 
 
 
 
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Gold Coast horse owner David Henderson downsizes

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A Surfers Paradise apartment, priced at $320,000, has followed the trend and is willing to accept Bitcoin as legal tender
The<a href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-127084094" target="_blank"> two bedroom apartment</a> will be sold tenanted at $370 a week, which would reflect a strong six percent yield for the buyer. The lease expires in February 2018.
Set in Cannes Court, the three storey walk up complex between Broadbeach and Surfers Paradise, the partly furnished apartment features an open plan living area which opens to a balcony.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/5/Surf2.jpg" alt="">
It last traded for $285,000 in 2008.
Ray White Broadbeach/Mermaid Waters agent Melissa Sekulic has the listing.
Buying property in Bitcoin has flooded the markets in the last two weeks.
The first home to hit the headlines offering Bitcoin was a home in Melbourne's The Basin. The vendor was only interested in a part Bitcoin payment for the home.
A home in Far North Queensland followed, willing to accept a 100% payment in Bitcoin for the $1.2 million home. That would equate to 100 Bitcoin at its current average price of around $12,000.
The 32 hectare rural estate known as Wooroonooran Falls at the foot of Mt Bellenden Ker, is happy to take the full transaction in Bitcoin.
The home is steeped in history. It was owned by one of the first settlers in the area, the Hon. Victor Nelson Hood, the nephew of Lord Nelson and the Godson of Queen Victoria.
The four bedroom, one bathroom Queenslander was built in 1948. Views from the front verandah look over the sugar cane fields.
Grandview, another Victoria home, this one north of Melbourne at Mount Macedon, was advertised as happy to also take full Bitcoin payment for the home, priced at $2.5 million.
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Surfers Paradise apartment accepting Bitcoin payment

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Citimark Properties has gained funding for its $200 million Markwell Residences project in Surfers Paradise.
Located just 180m from the beach, Markwell Residences will the largest residential tower to be built in Surfers Paradise in more than eight years.
Citimark, based in Brisbane, has secured an offshore senior debt funding facility and has appointed Hutchinson Builders to begin construction of the 46-level, 210 apartment tower in the New Year.
Citimark Properties joint managing director Angus Johnson said the apartment and retail project was now 75 per cent sold after reaping the combined benefits of limited supply, high demand, increased infrastructure investment and the competitive advantage of being an established local developer.
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Johnson said Australia’s constrained development finance market with Australia’s major banks had made projects of this scale difficult to get off the ground, particularly for private developers.
“The shortage of finance has impacted significantly on new supply despite very evident demand and the Gold Coast having one of the highest population growth projections in Australia,” he said.
“Citimark has a long track record with all four major trading banks and for the first time in our history, we did not approach any of them to fund the construction of Markwell Residences.
“We believe the Gold Coast is fundamentally one of the strongest markets in Australia with a significant undersupply, growing population and more than $12 billion in private and public infrastructure investment in the immediate region.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/28/Markwell1.jpg" alt="" style="font-size: 12.16px;">
The project’s funding was arranged by James Walsh, National Director of Deloitte Real Estate in Australia, who said the Markwell Residences project was attractive to financiers for a unique combination of reasons.
“There is a significantly low supply of new projects actually being constructed in the central Gold Coast region,” Mr Walsh said.
“This is reflected in the record low residential vacancy rate across the Gold Coast which was recently estimated at 0.9 per cent and the lowest of Australia's largest six cities.
Citimark Properties joint managing director Robert Pullar said Markwell Residences presented a unique competitive opportunity.
“The funding proposal took advantage of the current favourable market fundamentals which outrank other Australian east coast capital city markets, while partnering with a leading private Australian developer with a demonstrated 30-year-plus track record of successful projects,” he said.
“Appointing a top tier builder with a strong track record and national exposure was also a key component in securing a competitive and favourable senior debt funder.”
“Hutchinson Builders are Australia’s largest privately owned building company and we have partnered with them for over 30 years,” Mr Pullar said.
“The track record between our two companies added a lot of value to the Markwell project funding program.”
Johnson said interest from the Australian market had been integral to the project’s sales success with most sales sourced from local and Sydney-based agents.
“We purchased several sites on the Gold Coast ahead of the current cycle because we understood the impact of these fundamentals,” he said.
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Citimark Properties gains funding for $200 million Surfers Paradise building

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A whole floor apartment in Jade on the Gold Coast has been offered for sale.
After a turbulent few years after completion, the now tightly held Surfers Paradise block of 15 has seen just two sales in the last four years.
The <a href="https://i1.au.reastatic.net/1064x682-resize,extend,r=33,g=40,b=46/19b1ce53948c26134350b7eb2ca84ebecbbc8632a5c102752444b6f20aff8ec0/main.jpg" target="_blank">fourth level apartment</a> with three ensuited bedrooms is up for sale through Harcourts Coastal agent Tolemy Stevens who is asking $4.25 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/JADE2.jpg" alt="">
It was traded at $3.4 million just last year, and initially at $4.7 million in 2006.
The 320 sqm apartment's most impressive feature is the beach-facing wrap around balcony complete with its own private heated pool.
The master bedroom has a spa and steam room. There's also a study and a media room. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/JADE1.jpg" alt="">
The $96 million complex was completed by the Bezzina Group in 2006 to a collaborative design by Sydney architect Vic Lake and Brisbane architect Scott Peabody.
It came with a shiny Ticu Gold blade roadside exterior.
The biggest sale came in 2012 when $7 million was paid for the 14th floor unit. 
Queensland golfing champion Adam Scott bought in to the block early, but after the GFC hit sold the redundant garden apartment at a loss.
He paid $4.4 million for the two level apartment off the plan in 2004 and sold for $1.94 million in 2013.
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jonathanchancellor-7SQnKwU6yx

Whole floor Jade, Surfers Paradise apartment offering

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The McGrath Group has lost its veteran Surfers Paradise agent John Natoli who has told clients he intends to pursue his passion for underwater photography.
"Mr Natoli has left McGrath to pursue other interests and we greatly appreciate his contribution to the company over the years," the agency told Property Observer.
Asked to nominate stars remaining within the agency, the McGrath spokesperson declined.
"We are confident in the strength of our brand and the quality of our sales team on the Gold Coast and look forward to a successful Spring selling season."
Widely respected as one of the Gold Coast’s foremost authorities on prestige property, John Natoli has a very successful career, the last seven years at McGrath, much of it with conjunctional partnerships with James Ledgerwood, who departed the group for The Agency earlier this year.
He has been REIQ Gold Coast Salesperson of the Year. It came two years into his career.
John has been selling high-end residential real estate since 1993, specialising in Mermaid Beach, Broadbeach Waters, Surfers Paradise, Isle of Capri and surrounding suburbs.
John sold beachfront and riverfront property as well as luxury penthouses and sub-penthouses.
He has set a large number of property records including the highest price for beachfront land in Surfers Paradise in 2003 for $17.5 million and highest beachfront house sale on Main Beach in 2004 for $13.45 million.
In 2004 when at PRD he sold a two-storey beach shack on 963sqm of prime Main Beach beachfront for a whopping $13 million, which worked out to be $13,500 a sqm.
It made the three owners a profit of $11.3 million in just six years."Underwater photography is now an ever-consuming passion," he blogged several years ago.
He started around 2003, diving weekly mainly at <a href="https://www.julianrocks.net/Shop2/hooked_on_web_book.pdf" target="_blank">Julian Rocks, Byron Bay</a>.
"I love getting upto the Great Barrier Reef into warmer waters and better visibility at least once per year."
His favourite marine life - sharks, mantas and anemone fish - were taken using a Nikon D70 in an Ikelite Housing w/single 125 Strobe. 
He hasn't ruled out a return to property sales, The Gold Coast Bulletin advised.
McGrath Surfers Paradise is headed by Craig Caughlan whose Sutherland Shire-based family has been involved in property development since the 1970s.
In his late 30s, he started his real estate sales career at McGrath in Sydney under the tutelage of Matt Lahood before taking up selling at Penrith with another agency.
He has been at the McGrath Surfers Paradise office since January last year.
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jchancellor-FAypfDUnLy

Shark loving estate agent John Natoli calls time at McGrath Surfers Paradise

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The Surfers Paradise trophy home at 113 Commodore Drive is going under the hammer next month.
The late 1980s mansion was built for the tourism and resort developer Keith Williams.
The <a href="https://www.realestate.com.au/property-house-qld-paradise+waters-126255742" target="_blank">Mediterranean-style riverfront residence</a> was built by legendary Gold Coast construction figure Ron McMaster.
Keith’s wife Thea travelled to Italy with architect Roger Parker to get inspiration for the home which features a three-level staircase inspired by the Vatican.
There are arched windows, wrought iron chandeliers and Roman bath-style pool.
The mansion was subsequently owned by Dreamworld founder John Longhurst.
It was bought in 2013 by its current owners, local businessman Sep Abedian and wife Flora who have bought elsewhere.
Mr Abedian, the brother of Sunland Group founder Soheil Abedian, says he was drawn to the home’s status, size and outlook.
Spanning three levels and covering 1200sq m of floorspace, the home features an eight-seat cinema, grand entry, games room with wet bar, seven-car basement garage, wine cellar, gym, workshop, jetty, pool and spa.
There are reminders of the original occupants with the Williams family crest still adorning wallpaper in the games room.
The property’s noteworthiness was highlighted in 2015 when the Abedians were asked by the Gold Coast City Council to open up their home as part of the inaugural Gold Coast Open House program that celebrates important architectural landmarks.
Matt Gates, of Ray White Prestige, is marketing the 1489sq m property.
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j.ballantyne1990-6AQqhLzZaK

1980s Keith Williams mansion hits the market at Surfers Paradise

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A three-level apartment building with seven bedrooms in three units in Surfers Paradise has sold at auction for $6.55 million.
The property at <a href="https://www.realestate.com.au/property-unitblock-qld-surfers+paradise-125786206" target="_blank">32 The Esplanade</a> was bought by town planner Jason Hague.
The 433 sqm property, opposite the beach, was the only last free-standing home in Surfers Paradise on the Esplanade, said selling agent Amir Mian of Prestige Property Agents Southport. 
“It had three units and could have been used as a private residence – it was a proper brick and tile building. But the position and the zoning – there were no height restrictions. Position was the main thing,” Mian told The Australian Financial Review about the reason for the sale.
He said the final price exceeded the expected $6.5 million tag.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/08/TheEsplanade2.jpg" alt="">
New owner Jason Hague said he been looking around for a while and “got wind that it was going to come on to the market”.
“I love the Gold Coast. I've lived in Sydney, I've lived in London and I love that CBD living – that's what Surfers Paradise is about,” he added.
“There's a lot of money being spent on infrastructure. That Light Rail – that works because of density. It's a linear shape, the Gold Coast. It doesn't need a system that radiates out. It just needs a train line that drops off at nodes and around those nodes you get density. And it works. There are not too many places where you can say that can be achieved in Australia.” 
The Light Rail is going to be connected to Helens Vale shortly, which will connect directly to Brisbane by train. Besides, there has been an infrastructure boost because of the 2018 Commonwealth Games.
“The Gold Coast is maturing. That Light Rail has put it in a different league, in respect of where it was and where it's going. Investors are seeing that. Hoteliers are seeing that.”
The sale price translates to $15,128 per square metre, and shows the strength of the market, added Amir Mian. 
Hague said as of now the place will be for his family and whoever rents out the other units.
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Town planner buys Gold Coast apartment building for $6.55 million 

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A split level Soul, Surfers Paradise beachfront apartment has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-125847162" target="_blank">4103/4 The Esplanade</a>, the 41st floor double storey apartment has views of the ocean and balconies on both level for alfresco dining.
It has 330 sq m space.
The first level has the open living room along with the formal dining with kitchen.
A study is also located on the first floor along with a large balcony running the entire length of the apartment.
A spiral staircase goes to the second level that leads to the three bedrooms and bathrooms along with media room and balcony.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/25/Screen%20Shot%202017-07-25%20at%2011.45.10%20am.jpg" alt="">
The property also has access to a indoor heated pool, spa, sauna and gym while outdoor are water features and BBQ area.
The property is offered through PRD Nationwide agent Adam Scott who has schedule an August 5 auction.
"Unique and rarely offered for sale, it is one of only four of "The Beach House Range" quality double storey apartments in the complex," the marketing says.
It last traded in 2014 at $2.7 million.
Soul was completed in 2011 by Juniper.
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Mortgagee Surfers Paradise beachfront apartment listed for auction

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Gold Coast Titans director Darryl Kelly and wife Joanne have traded up on Admiralty Drive in Surfers Paradise.
They've spent $7.7 million on a four level home (above), just along from their redundant home which remains on the market. 
Set on a 678 sqm riverfront parcel, the five bedroom home was caught up in the GFC flattening that hit the Gold Coast hard.
It notched up only a $700,000 gain in 10 years since its $7 million trade in 2007.
Two years earlier it had traded for $5.57 million, a growth of nearly $1.5 million in two years.
Michael Kollosche at Kollosche Prestige Agents sold the home.
Kollosche and Jordan Williams have the listing of the Kelly's now redundant four bedroom home 600 metres away.
They were asking $5.25 million upon its February listing, however the home with solar heated pool now comes with $4.95 million hopes.
A bridge over the living room links the king-sized master and guest suites, each complete with their own private waterfront balconies.
This article first appeared in The Weekend Australians Mansions Australia section.
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Gold Coast Titans director Darryl Kelly buys on Admiralty Drive

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<div>I went to Surfers Paradise on Friday on the Gold Coast.</div>
<div> </div>
<div>Being a holiday destination, it's one of Australia's most volatile and cyclical housing markets.</div>
<div> </div>
<div>It's not too hard to see why, with few height restrictions on building and apartment towers stretching almost as far as the eye can see. </div>
<div class="separator"> </div>
<div>The Gold Coast apartment market was one of Australia's hardest hit housing market sectors through the financial crisis - with a spectacular drop in prices - although apartment prices have been rising again steadily since early 2014. </div>
<div> </div>
<div>The detached housing market at Surfers Paradise is now performing very strongly, with a combination of a lower dollar (which encourages tourism), interest from China, and the upcoming Commonwealth Games all being factors working in the region's favour.</div>
<div> </div>
<div>The Gold Coast is also now a growing city and employment hub in its own right, with the region seeing population growth of 12,280 in FY2016.</div>
<div> </div>
<div>The risk in such markets is that when prices rise apartment construction can go crazy leaving the market highly susceptible to corrections, with the ensuing oversupply amplifying the downturn.</div>
<div> </div>
<div>To date median apartment prices are in many cases still below their 2009 levels, and have not risen far enough to result in widespread overbuilding, although there are some sites under construction.</div>
<div>Indeed, after accounting for the highly seasonal nature of the market, reported vacancy rates are clearly in a multi-year downtrend. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/04/10/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/10/SQM2.jpg" alt=""></div>
<div>Source: SQM Research</div>
<div> </div>
<div>An extremely speculative market, the fundamentals suggest a rising markets over the next couple of years or so until the next construction cycle delivers new supply in earnest (at which point it might be a good time to bail). </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</div>
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