For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Wesley Place

<html><body>
<a href="/developers/charter-hall">Charter Hall</a> has announced that it has secured the Australian Financial Complaints Authority (AFCA) as a tenant within its $700 million Wesley Place development, currently under construction at the eastern end of Melbourne's CBD. AFCA joins Vanguard, Telstra Super, Cbus Super and the Uniting Church in committing to <a href="/developments/melbourne-vic-3000">130 Lonsdale</a> after agreeing to occupy approximately 7,600 sqm across Skyrise Levels 24-27. 

Upon completion in 2020, 130 Lonsdale will comprise 55,000 sqm of Premium-Grade, tech-enabled office space across a 35-storey tower. The future-ready workspace is registered to pursue WELL certification and target 6-Star Green Star design, As-Built v1.1 and 5-Star NABERS ratings - aligning with the Charter Hall's vision for a precinct’ with a sustainable legacy for the future.

AFCA's 12-year lease will commence upon practical completion in July 2020, bringing the new office tower’s committed Net Lettable Area (NLA) to approximately 78%. Charter Hall has engaged <a href="/architects/cox-architecture">Cox Architecture</a> to lead the design of the three commercial office buildings which together form the Wesley Place precinct – 130 Lonsdale, <a href="/developments/melbourne-vic">140 Lonsdale</a> and 150 Lonsdale. <a href="/builders/lendlease-building">Lendlease</a> is currently progressing construction on 130 Lonsdale and the wider site.

<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/charter_hall_-_wesley_place_-_130_londsdale_terrace_view.jpg" rel="gallery-all" title="130 Lonsdale Street is currently under construction. Image: Charter Hall"><img alt="" class="image-article-full-width-580px" height="931" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/charter_hall_-_wesley_place_-_130_londsdale_terrace_view.jpg?itok=XfgmnyzL" title="130 Lonsdale Street is currently under construction. Image: Charter Hall" width="580"></a>

<figcaption>130 Lonsdale Street is currently under construction. Image: Charter Hall</figcaption></figure>According to Charter Hall, 130 Lonsdale will house one of the largest end-of-trip facilities in Melbourne along with a wellness centre, business hub and concierge services, integrated with Wesley Place’s retail precinct. Charter Hall believes the building's sculptural tapering-form will provide a unique addition to Melbourne’s skyline, whilst The Manse building, located beneath 130 Lonsdale, will deliver a distinct heritage quality to the Premium Grade workspace.

Charter Hall says a key part of the precinct’s development will be the rejuvenation of heritage architecture, including the careful restoration of one of Melbourne’s most important collections of Neo-Gothic architecture - the Wesley Church, Caretaker’s Cottage, Manse, School House and Nicholas Hall. The centrepiece of the precinct will be the Wesley Church, one of Melbourne’s finest and earliest examples of Gothic Revival architecture, which will include intricate stained-glass window and stonework restoration, and a new slate roof.

The precinct has been designed with active an active public realm comprising a series of laneways, green spaces, and food and beverage offerings, all of which will support and enhance the existing heritage buildings. Of particular note, according to Charter Hall, will be the grounds surrounding the heritage buildings which will feature "one of only five beautifully curated green spaces in Melbourne’s CBD for the public to meet, relax and socialise, akin to Melbourne Library or Parliament Gardens."

The AFCA's commitment to 130 Lonsdale leaves only a number of Skyrise floors available for lease, complete with cascading terraces designed for outdoor team meetings, functions and social occasions. Additionally, the two-level foyer space provides a place to meet clients or host informal breakout meetings.

A summary of the two other developments which complete the balance of the Wesley Place precinct - 140 Lonsdale and 150 Lonsdale - are further discussed below;

<h2><a href="/developments/melbourne-vic">140 Lonsdale</a></h2>

This A-Grade, technology-enabled building will provide 22,000 sqm of office space across 20 levels above the existing car park structure onsite. The 5-Star Green Star rated office building will include an outdoor terrace, direct access to Wesley Place's public realm and high-quality end-of-trip and concierge facilities. Workers will also have access to the wide-ranging amenities housed across the precinct. Cox Architecture's design links 140 Lonsdale to the Wesley Precinct whilst providing a complimentary backdrop to the heritage architecture.

Charter Hall says it is currently discussing leasing opportunities within the building with a number of potential pre-commitment tenants and expects to commence construction of the new tower in the first half of 2019.

<h2>150 Lonsdale</h2>

Already calling itself home to a number of Melbourne businesses, Charter Hall is in the early stage of planning to transform 150 Lonsdale St to a modern A-grade standard. Citing the work undertaken at its 570 Bourke Street office asset, Charter Hall says it plans to reposition 150 Lonsdale St with a new lobby, arrival experience, revitalised façade and end-of-trip facilities

Located on Lonsdale St, the building offers 28 levels of customisable, flexible floor plates and currently carries a 4.5 Star Green Star rating and is targeting a 5 Star NABERS energy rating

---------------------------------------------

The Wesley Precinct anchors Charter Hall's strong development pipeline which encompasses projects across Australia. This is highlighted in the interactive map below:

<iframe frameborder="0" height="450" src="https://www.urban.com.au/developments?developer=Charter%20Hall&amp;embeddable=map" width="100%"></iframe>

Also on the drawing board for Charter Hall is a significant commercial development spanning 55 King Street and 555 Collins Street after the developer acquired the site at the end of October.

According to Charter Hall, it plans to "deliver a modern office tower that will enrich the precinct and community... the Charter Hall team is progressing key design and development appointments, with further news to be announced in 2019."

<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/555_collins_carousel2.jpg" rel="gallery-all" title="Indicative concept for 555 Collins Street. Image: Charter Hall"><img alt="" class="image-article-full-width-580px" height="319" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555_collins_carousel2.jpg?itok=skc_XXGb" title="Indicative concept for 555 Collins Street. Image: Charter Hall" width="580"></a>

<figcaption>Indicative concept for 555 Collins Street. Image: Charter Hall</figcaption></figure><h2>What they say...</h2>

<blockquote>
AFCA is a new organisation providing consumers and small business owners with fair, free and independent solutions to their financial disputes. Our new premises at Wesley Place will enable our Melbourne staff to deliver a high quality and flexible service. We are very excited about this move and value our relationship with Charter Hall. We believe the Wesley Place development will be a great one for our customers, members and our people.

- David Locke, CEO and Chief Ombudsman of AFCA
</blockquote>

 

<blockquote>
Welcoming AFCA to the Wesley Place development is a great milestone and demonstrates the strong leasing momentum we have been able to create with approximately 78% of the asset secured. Upon completion, Wesley Place will further enhance CPOF’s portfolio quality and total return metrics and deliver our Fund Investors a coveted new Premium Grade office building in the tightly held Melbourne CBD core office precinct.

This new lease demonstrates our approach to securing significant tenant pre-commitments to de-risk the approximately $1.3 billion of committed projects that we have underway nationally within our office funds management platform. The depth of our internal development capabilities, with experienced teams based in each major capital city means that we are able to collaborate with our tenant customers to deliver great workspace experiences as well as create institutional quality investment opportunities in the office sector.

- Matthew Brown, CPOF Fund Manager
</blockquote>

 

<blockquote>
Our working and social lives are increasingly intertwined. That’s why we’re creating forward thinking workspaces, that are smart, agile and offer a diverse destination where both businesses and the wider public can use and enjoy the space. 130 Lonsdale Street continues to offer opportunities to new customers to join major corporates AFCA, Vanguard, Telstra Super and CBUS in this location, with the ability to secure the best skyrise space available, four floors of which boast outdoor terrace areas.

The common link across all buildings is the future-proofed technology throughout the precinct for workforces now and into the future. We are delivering laptop-enabled green spaces, customised precinct apps and modern property technologies within the buildings that will keep tenants connected and ahead of the curve.

Wesley Place is one of Melbourne’s earliest settlements dating back to the 1800s. It is therefore immensely important for us to ensure any of the plans we have for the commercial office spaces seamlessly blend with the heritage buildings on site.

We’re incredibly proud to be working with Lovell Chen and Heritage Victoria on this major piece of heritage development for the City of Melbourne, so that the local congregation, community groups and future generations can continue to use the space as a community meeting point.

Wesley Place is set to be the next, quintessential Melbourne destination. Food, beverage, and convenience offerings will ignite the surrounding Melbourne shopping district, catering to the needs of the busy yet savvy workforce within and general public.

As developers and long-term managers of this significant project, we have a longstanding commitment to seeing the precinct come to life. Our partnership with the site’s owners, the Uniting Church, is key to realising the best outcomes for all involved.

- Charter Hall’s Regional Development Director, Simon Stockfeld
</blockquote>
</body></html>

Laurence Dragomir

Charter Hall secures another tenant at its Wesley Place precinct

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In recent weeks Lendlease signage has emerged across the site of Charter Hall's $600 million Wesley Place project at 130 Lonsdale Street. Ground works signify that official construction is underway on the premium grade office tower, post the completion of demolition.

According to the <a href="http://www.afr.com/real-estate/charter-hall-gets-going-on-600m-wesley-place-20171107-gzgsn7">AFR</a>, Charter Hall is pushing ahead with the development after securing pre-commitments within the 33-storey, COX Architecture-designed tower. Super funds Cbus and Telstra Super have elected to occupy the tower, as has investment services firm Vanguard.

The commitments account for approximately 30,000sqm within the 55,000sqm tower.

<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/wesley-130-lonsdale-2.jpg" rel="gallery-all" title="Construction of Wesley Place Stage 1 is about to get into full swing. Image: COX Architecture"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/wesley-130-lonsdale-2.jpg?itok=0FdkfHUD" title="Construction of Wesley Place Stage 1 is about to get into full swing. Image: COX Architecture" width="580"></a>

<figcaption>Wesley Place will make an impact on the CBD's east end. Image: COX Architecture</figcaption></figure>Charter Hall will also accommodate the Uniting Church onsite as part of the original deal to develop the church-owned land via a 125-year leasehold deal. Signage onsite has the exceptionally wide tower which spans Lonsdale Street to Little Lonsdale Street aiming for a completion date during 2019.

130 Lonsdale Street forms Stage One of Wesley Place, as Charter Hall pushes a second tower through planning that will effectively bookend the massive site.

<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/img_2567bb.jpg" rel="gallery-all" title="Wesley Place's initial tower is now under construction"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2567bb.jpg?itok=YE6vrKzi" title="Wesley Place's initial tower is now under construction" width="580"></a>

<figcaption>Wesley Place's initial tower is now under construction</figcaption></figure>Earlier this week City of Melbourne's Future Melbourne (Planning) Committee was urged to provide conditional support to Wesley Place's second stage at 150 Lonsdale Street. 

The site is located to the rear of an existing commercial 29-storey tower fronting Lonsdale Street, and is currently occupied by a multi-storey car park with dominant frontage to Little Lonsdale Street. The car park will be partially demolished to allow for construction of the 23-storey tower's core whilst the tower itself will sit atop the existing structure.

The proposal which has also been designed by COX Architecture presents in a similar architectural language to the first stage.

150 Lonsdale Street would rise to an overall height of 80m above street level and has a floor area ratio of 22.77:1, which exceeds the recommended 18:1 plot ratio. The proposed floor area uplift is supported by the delivery of commercial office space as the public benefit.

<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/wesley_leas.png" rel="gallery-all" title="Stage 2 of Wesley Place at 130 Lonsdale Street. Planning Image: COX Architecture"><img alt="" class="image-article-full-width-580px" height="808" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/wesley_leas.png?itok=OZoiy4WV" title="Stage 2 of Wesley Place at 130 Lonsdale Street. Planning Image: COX Architecture" width="580"></a>

<figcaption>Stage Two of Wesley Place at 150 Lonsdale Street. Planning Image: COX Architecture</figcaption></figure>The design has changed from earlier renders which depicted a similar curving form to the larger tower. Now a more rectilinear built form has been employed with a series of glazed blocks bisected by rebates which appear as visual cues to crucifixes, providing a subtle reference to the site's history and custodians.

The City of Melbourne's Urban Design team raised a number of issues with the application, including retention of car parking above ground, location of services and activation of Hayward Lane, while ensuring "the architectural expression of the building presents a clear and integrated design intent, with an emphasis on the design and detail of the podium."

<blockquote>
Acknowledging commerciality and timing of project, retention of the carpark impacts potential to contribute positive and active interfaces. While adaptive re-use in the city is generally supported, it’s recommended that the proposal excludes above ground parking and adapt the floorplates to other uses, or demolish the existing carpark. 

- City of Melbourne's Urban Design Team
</blockquote>

Approval from Planning Minister Richard Wynne would ultimately pave the way for the realisation of the full master plan for the site as illustrated below:

<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/wesley_place_stage_2_master_plan.png" rel="gallery-all" title="Wesley Place Master Plan. Planning Image: COX Architecture"><img alt="" class="image-article-full-width-580px" height="393" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/wesley_place_stage_2_master_plan.png?itok=3eWCxlyq" title="Wesley Place Master Plan. Planning Image: COX Architecture" width="580"></a>

<figcaption>Wesley Place Master Plan. Planning Image: COX Architecture</figcaption></figure><h2>150 Lonsdale Street At a Glance</h2>

<ul>
<li>Office NLA : 16,020 sqm</li>
	<li>Ground level retail NLA : 300 sqm</li>
	<li>Building height : 79.97m 22-storeys + plant (88m to plant)</li>
	<li>Podium height 29.27m existing 9-storey carpark.</li>
	<li>Plot ratio: 22.77:1</li>
	<li>Car parking spaces : 395 spaces (reduced from 643)</li>
	<li>Bicycle facilities and spaces:  122 spaces; 22 visitor spaces at ground level, 100 employee spaces</li>
</ul>
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