Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Commercial Lending

<html><body>
EXPERT OBSERVER 
Over the last 12 months banks have been continuing to ramp up scrutiny on commercial property assets. 
There has been more attention paid to interest cover for investment assets however anticipated interest rate cuts and the recent reduction of bank bill swap bid rate (BBSY) will likely lead to some relief. 
An emerging trend that has largely flown under the radar is the additional consideration lenders now apply to both the underlying asset class and tenancy profile of individual assets. 
Borrowers must show their tenancy strategy is sustainable because lenders are increasingly wary of perceived risky asset classes and ultimately want to know who will be paying the interest bill. 
Asset classes that are favoured in market experience directly benefit in debt markets. 
Broadly speaking, this has recently applied to both the industrial and commercial office asset classes. For example, we are seeing bank margins for prime commercial assets well below 200 basis points, a reduction of roughly 20 per cent since the start of 2019. 
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Conversely, specialised asset classes are at the whim of changing lender appetite and the class suffering the most right now is retail property. 
Some retail properties are experiencing significant challenges resulting from online disruptors and changing consumer behaviour, with reduced non-discretionary spend directly impacting on tenant cash flow. These factors subsequently impact borrowing capacity on retail assets with heightened bank scrutiny on tenants. 
Any asset holder with a high proportion of tenants with businesses that depend on discretionary spend will find it difficult to obtain finance. Bricks and mortar retail remains an ongoing challenge - especially when tenants have visible trading issues. 
But for those managing assets with sustainable, long-term income from quality tenant agreements, values should hold or firm. This is because these assets can attract debt, and debt appears to be getting cheaper thanks to the reductions in BBSY and lender margins. 
Remember that now more than ever before tenants are under the microscope along with all the financials of the asset, so it’s in your best interest to make sure your tenant is looking up to scratch when it comes to securing finance. It really has never been more important to keep up appearances.
Michael Hynes is the director of Stamford Capital.
 
</div>
</div>
</div>
</body></html>

jrobinson-rf4aSBido9

Banks put commercial tenants under the microscope

<html><body><div>
Investment bank Goldman Sachs wants to fill the gap in commercial lending created by a tightening by major banks, and will finance $1 billion in loans to residential developers.
The loans could range across a mix of residential and commercial lending and will centre around construction and development loans, but not mortgages.
Ever since local banks tightened their lending for development and construction loans about 18 months ago to cut down their exposure to the housing boom, many developers were left stranded without funds for their planned apartment projects.
Goldman Sachs wants to use this opportunity for lending, but would charge a higher interest rate, according to The Australian Financial Review’s Street Talk column.
Goldman plans to operate at the same level as banks, exercising the same credit review and due diligence as major lenders.
Street Talk cited sources close to Goldman Sachs saying all prospective deals would be carefully examined, and only high-quality projects and experienced developers will be considered. The global investment bank is eyeing deals above $100 million.
The bank will also consider non-real estate commercial loans.
Sources said millions of dollars have already been committed towards senior, stretched senior loans and first mortgages over projects. Mezzanine funding is also being considered.
Many groups such as Balmain, the largest commercial lender outside the major Australian banks, Wingate, Chifley Securities, Alceon and Qualitas have been active in this space.
Also in the game are more "shadowy" lenders such as high net worth clubs, with funds obtained from local and foreign sources as well as various foreign banks. 
The surge in this sector, though still small at 6 per cent of the entire financial market, had prompted the Reserve Bank to say in its last financial stability review that increased non-bank securitisation especially in mortgage related products warranted "ongoing attention".
 
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Goldman Sachs starts commercial lending to developers

<html><body>
The banking regulator has nudged banks to improve their standards in commercial lending, saying sound underwriting standards are important for the safety of the banking system and the financial system as whole. 
The letter from the Australian Prudential Regulation Authority comes in the wake of its review of the commercial property sector in 2016 after a surge in prices owing to more offshore demand from sovereign wealth funds and pension funds.  
The letter starts with the statement that commercial property lending “has historically been a source of significant loss for banks, both in Australia and overseas,” and goes on to say that lenders have not properly managed their risk profile of for commercial lending due to inadequate data, poor monitoring and incomplete portfolio controls. 
The APRA said it expects authorised deposit-taking institutions (ADIs) to improve their capabilities in this area, and has written to individual lenders about their specific requirements.
The note states that under “current market conditions, it is important that the Boards of ADIs are conscious of the settings for underwriting standards and portfolio controls, and in a position to challenge as appropriate”.
Sound credit underwriting standards are fundamental to the safety and soundness of lenders, as well as the stability of the financial system as a whole, it adds. “This is particularly the case in the area of commercial property lending, which has historically been the source of significant credit losses for the Australian banking industry. “
It said the review found that many ADIs fell short of expectations regarding portfolio controls for commercial property, driven in part by "an underinvestment in information systems, leading to challenges in extracting portfolio data".
The letter states it is “critical that ADIs maintain appropriate standards through the credit cycle, and are prepared to tighten those standards as circumstances dictate”. 
It noted that though there was a general tightening of underwriting standards, especially for residential development lending, it hadn’t been uniform and lenders would do well to ensure that they are not unduly accepting greater risk as other lenders step back. 
Banks have been particularly careful about lending to investors in the residential sector, with Commonwealth Bank and its subsidiary, BankWest, recently taking steps to curb refinancing of investor loans.
On commercial lending, the regulator said it expects ADIs to manage “not only the risk of individual loans but also consider build-ups in risk at the portfolio level”. 
</body></html>

prateek24-ezbwHMbNAk

APRA cautions banks on poor commercial lending standards 

<html><body>
Scrutiny of commercial property lending has been "dialled up", the Australian Prudential Regulation Authority chairman Wayne Byres said yesterday.
Commenting on the 10 percent growth cap imposed on bank investor loan portfolios - with actual rates of growth sitting at around half that rate - Byres advised the cap, initially announced in December 2014, was "always intended to be temporary [and] it is still our view that it will be temporary, so we are certainly thinking about the next evolution of what we do". 
But Mr Byres said "there is no doubt we have dialled up the intensity of our focus" on commercial property lending.
He was at an event at the Actuaries Institute. 
"In the history of banking, commercial property has always been front and centre whenever there have been any serious issues in the system. So it is natural that at times when valuations look to be on the high side, we are making sure the lending quality of the banks and the basis on which they are assessing credit is maintaining a healthy degree of prudence about it." 
The challenge when monitoring commercial lending is that it is less homogenous than standard housing loans, but "it is natural at this part of the cycle that supervisors are going to pay particular attention to it." 
At the same time APRA announced the investor lending caps, it also said banks should assess borrowers' capacity to pay their mortgages using an interest rate buffer of at least 2 per cent more than the actual interest rate on the loan, with a floor lending rate of at least 7 percent. 
Mr Byres said these rules are working well. "The 7 percent number is a useful mechanism to keep serviceability standards at a certain level and not have those serviceability standards shift with general interest rate movements up and down," he said.  
At the same event, National Australia Bank's global head of research Peter Jolly said residential house prices had been driven by low mortgage interest rates, foreign demand from Chinese buyers, and population growth outstripping supply of residential dwellings. He said the second and third of these drivers were now waning.
But Mr Jolly warned that the ratio of Australian household debt to GDP was the highest in a recent analysis by the Bank of International Settlements of 40 major economies. 
"There is no way to get around the fact that Australian households are very leveraged on any reasonable measure. The reality is pretty stark that household debt is high....There is no doubt in my mind that affordability may be around average, but households are a bit more vulnerable to either interest rates going up - which doesn't seem likely - or an interruption in their income," he said.  
"In the history of banking, commercial property has always been front and centre whenever there have been any serious issues in the system. So it is natural that at times when valuations look to be on the high side, we are making sure the lending quality of the banks and the basis on which they are assessing credit is maintaining a healthy degree of prudence about it.
He suggested the challenge when monitoring commercial lending was that it is less homogenous than standard housing loans, but "it is natural at this part of the cycle that supervisors are going to pay particular attention to it." 
</body></html>

Commercial Lending

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Commercial Lending

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News