Macquarie York has appointed Roberts Co to as the Early Contractor Involvement (ECI) partner for its upcoming new Surfers Paradise apartment development, Sunset Residence.

Located at 50 Sunset Boulevard, Sunset Residences is a riverfront, design-driven tower set to elevate one of Surfers Paradise’s most rapidly transforming enclaves. The refined scheme, designed by Plus Studio, features 72 luxury residences, enhanced amenity, and improved connectivity to the Nerang &nbsp;River.&nbsp;

As ECI partner, Roberts Co is working closely with Macquarie York and the design team to optimise buildability, program, staging and procurement strategies ahead of construction commencement.&nbsp;

&nbsp;

Macquarie York Director, Roy Skaf, said Roberts Co’s early engagement will help ensure the landmark development realises its full potential.&nbsp;

“Sunset Residences is a signature project for Macquarie York, a chance to define a new level of riverfront living in Surfers Paradise," Skaf said.&nbsp;

&nbsp;

&nbsp;

<img alt="Roberts Co appointed Early Contractor Involvement partner for Macquarie York’s Sunset Residences on the Gold Coast" data-entity-type="file" data-entity-uuid="3dd22a45-168b-4e00-b6d2-4e7310b02084" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/SunsetResidences_Interior.jpg?VersionId=NAWvGq7l6BFB4vvh6u0xXWWISboHTi6q" />

“Partnering with Roberts Co under an ECI arrangement gives us the confidence that design decisions, construction methodology and programming are being rigorously considered from day one. Their collaborative mindset and technical capability are exactly what a project of this quality demands.”&nbsp;

&nbsp;

Construction is expected to commence following completion of the ECI phase and final design resolution.

Sunset Residences is one of three projects Macquarie York has locally. They have Rana Palm Beach, 60 apartments on Twenty Third Avenue, and Azariah, just nine residences on the dress circle Jefferson Lane, also in Palm Beach.

Joel Robinson

Macquarie York appoints Roberts & Co for early works agreement at Sunset Residences

Few developers in South East Queensland have shaped the new development apartment market as profoundly, or as consistently, as Mosaic Property Group. In 2025, the business delivered another very strong year across Brisbane, the Gold Coast, and the Sunshine Coast, building on the foundations of nearly two decades of discipline, long-term thinking, and relentless refinement of its craft.

Their continued success is driven from the top. Founder and Managing Director Brook Monahan, very much credits the success to a workforce of “massive grafters”, and a culture where complacency simply doesn’t exist.

“In every part of our business, we’re constantly pushing to get better” Monahan told <a href="http://apartments.com.au">Apartments.com.au</a>. “We never rest on our laurels.”

The company’s growth continued its upward trajectory, with the developer completing six luxury projects in 2025, representing approximately $850 million in value and delivering 536 new luxury homes. Mosaic also sold over $1.4 billion worth a new luxury apartments at an average price point of $3.41 million in 2025.

Heading into 2026, they have a further five projects under construction and an immediate pipeline across Brisbane and the Gold Coast, representing just shy of $2 billion in value. I spoke with Brook about everything from the evolution of Mosaic’s business to the fundamentals driving the SEQ property market.

<hr />
<h2>A market defined by two forces</h2>

The fundamental drivers of SEQ’s housing dynamics in 2025 are straightforward: a generational transfer of wealth on a scale Australia has never seen, and migration numbers that continue to exceed expectations.

“An enormous amount of wealth will move through the next decade,” Monahan explains. “That wave isn’t going anywhere.” Simultaneously, “you can’t run migration at the numbers we’re seeing, while also having a generational shift of wealth from boomers, and not expect demand to remain strong. People move here, they bring money, they want to buy a home and create a future.”

While top-end product in some pockets has softened from the frenzy of 18 months ago, Monahan believes&nbsp; the wave will remain “pretty strong,” especially for developers with brand trust and a long-term track record.&nbsp;

“The $4 million to $10 million segment remains fairly robust, but buyers are much more educated now than they’ve ever been. They have access to information and they’re smart people. They’re generally not&nbsp; willing to trust a new entrant asking $15 million with no track record.”

This heightened consumer discernment, he notes, is reshaping how premium projects are evaluated by developers.

<hr />
<h2>The problem behind the crisis</h2>

Despite strong demand, SEQ’s housing market remains severely undersupplied. Brisbane needs around 12,000 new homes per year, yet delivered only 4,000 last year. The Gold Coast requires around 6500 but delivered less than half of that. The backlog is massive.

“We’re probably 54,000 homes short in the next five years in Brisbane alone,” Monahan estimates. “Maybe 100,000 across the whole of Queensland.”

The core issue however isn’t planning.&nbsp;

“The planning environment is actually super supportive right now,” he says. “Approvals aren’t the problem. It’s turning approvals into real supply.”

The gap between development approvals and project starts has widened significantly as construction costs escalate, contractors disappear from the market, and inexperienced developers try, and fail, to bring projects to life.

“A development application (DA) is only part of the equation, it means little without the ability to deliver,” he explains. “Many applicants underestimate the complexity involved. It’s not just about securing a site; you need the right formula and all the right ingredients to make it work. Without that, the end result will fall short of expectations and increase the risk of project failure.

The result is market distortion: sites tied up by entrants who lack experience, capital certainty, construction understanding, or a realistic feasibility model. “It’s not good for the industry,” he says. “You get more and more mooted supply but very little real delivery.”

<hr />
<h2>Construction realities and the coming resource crunch</h2>

Beyond development capability, SEQ faces macroeconomic pressures. Over $7 billion must be delivered by late 2031 just for Olympics-related obligations. Add $18 billion in hospital and health infrastructure, and the region faces a “resource drain” Monahan believes will reshape delivery timelines and construction pricing for years.

“It will ultimately be great for SEQ for the next 20 years,” he says. “But it puts enormous pressure on an already chronically undersupplied housing market.”

This pressure will inevitably influence pricing. Double-digit growth cannot continue indefinitely, but Monahan sees no path to meaningfully lower construction costs. “It’s impossible to meet demand at a cheaper price point given labour capability and resource competition,” he says.

“Those who can afford it will keep paying more and the rest are fighting to get a foothold. That’s why the market keeps creeping upward.”

<hr />
<h2>Mosaic’s disciplined blueprint: Only A-Grade, iconic, irreplicable</h2>

With a long track record of delivery and in-house construction expertise, Mosaic works backwards from the cost of delivery to determine the right price for a site—a disciplined acquisition model they’ve adhered to from day one.

&nbsp;“We’re never out of the market,” Monahan says. “But we’re extremely disciplined. We don’t buy B+ sites. We won’t buy run-of-the-mill locations. Ever. That’s not our brand and it’s also not economically viable for us in most instances.”

Mosaic’s nine current developments illustrate this discipline:

<ul>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/lily-by-mosaic-4-rosewood-avenue-broadbeach-qld-4218">Lily</a> and <a href="https://www.apartments.com.au/buildings/marella-146-surf-parade-broadbeach-qld-4218">Marella</a>, Broadbeach: Two 30-storey buildings with permanently protected views over parkland, beach and coastline 
	&nbsp;</li>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/isabel-by-mosaic-96-the-esplanade-burleigh-heads-qld-4220">Isabel</a> and, <a href="https://www.apartments.com.au/new-apartments/josephine-by-mosaic-166-the-esplanade-burleigh-heads-qld-4220">Jospehine</a>, Burleigh Heads – all “masterpiece” sites on the Esplanade with enduring view corridors of beach, water and coastline in the heart of Burleigh 
	&nbsp;</li>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/sophia-by-mosaic-1357-gold-coast-highway-palm-beach-qld-4221">Sophia</a>, Palm Beach- directly on the dunes of the most highly sought after stretch of northern Palm Beach beachfront real estate 
	&nbsp;</li>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-22-mary-avenue-broadbeach-qld-4218">Madeline</a>, Broadbeach – “180 degrees beach, water and coastline views, great walk score” 
	&nbsp;</li>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a>, Kangaroo Point – a site Mosaic first identified in 2016. Amazing walk score, views and inner city connectivity 
	&nbsp;</li>
	<li aria-level="1"><a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>, Kangaroo Point – in between the Gabba and the Kangaroo Point peninsula with amazing walk score and uninterrupted and expansive northern city and river views 
	&nbsp;</li>
	<li aria-level="1">South Brisbane (launching 2026) – core inner-city Brisbane river waterfront site on the northern end of the peninsula with amazing river connection and permanent river and city views, amazing walk score</li>
</ul>

“Nothing we buy is guesswork,” Monahan says. “It’s always an iconic suburb where people genuinely want to live, with strong connections to water, lifestyle, amenity, or permanent view corridors.”

“Mosaic’s two most recent Brisbane acquisitions were several years in the making. The Bedford, launched on the prestigious Kangaroo Point peninsula and achieving 90 per cent sales within months was a site they identified back in 2016. The second, which is the yet to be released at 91 Montague Road in South Brisbane, has been on Mosaic’s radar since 2017.&nbsp;

Arguably one of Brisbane’s last great inner city riverfront sites, it sits within the city’s most dynamic cultural hub, offering unrivalled connectivity, lifestyle, and amenity, and standing as a landmark opportunity to define the next era of riverfront living.

“We know exactly what is and isn’t a Mosaic project. Strategic site selection is the critical foundation of everything we do. We’re always assessing opportunities, but based on our two most recent Brisbane acquisitions, it’s entirely possible that the sites we’re looking at today won’t transact for several years. That discipline is what ensures every project meets our exacting standards.”

<hr />
<h2>The Mosaic engine: Consistency, capability, and relentless execution</h2>

What separates Mosaic in a crowded field is not the ability to attract capital or buy a site, but the ability to deliver highly complex high end buildings, whether that is 37 storeys or 18 storeys, repeatedly and consistently.

“These buildings are inherently complex to deliver well,” Monahan says. “It takes a long time to know exactly what the market wants, how to deliver it, how to secure the right contractors and consultants, and how to align the product with what the market is actually willing to pay and can afford.”

With so many contractors exiting the market in recent years, genuine delivery capability has become increasingly rare. Monahan welcomes credible new entrants but cautions that underestimating the complexity of luxury development can lead to poor outcomes.&nbsp;

“It’s easy to assume high-end projects equal high returns, but without the right experience, track record, and capability, it’s a tough road. Attracting capital is one thing—delivering on expectations is another, and when that doesn’t happen, it impacts the entire market.’”

<hr />
<h2>Looking to 2026: A pipeline built on patience and precision</h2>

As 2025 draws to a close, Mosaic stands at the strongest point in its history. Since 2012 alone, the company has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, hundreds of luxury apartments, all bearing Mosaic’s hallmark of impeccable delivery.&nbsp;

Next to launch are two standout projects: Josephine, an exclusive collection of just 30 half- and full-floor ultra-luxury residences coming soon to the Burleigh Heads beachfront, and a landmark tower on Montague Road in South Brisbane, comprising 204 apartments in the heart of the city’s cultural hub on the banks of the Brisbane river.

“We never arrive. There’s no finish line for us,” said Monahan. “Our focus is on continuing to evolve in the luxury space, creating incredible, design- and lifestyle-led properties that people love living in and that stand the test of time.” 
&nbsp;

What’s ahead for South East Queensland’s next development wave: Five minutes with Mosaic’s Brook Monahan

Developer Third.i has topped out its luxury Potts Point apartment development, <a href="https://www.apartments.com.au/new-apartments/muse-potts-point-30-34-brougham-street-potts-point-nsw-2011">Muse</a>.

Under construction by Dilcara and expected to complete in mid-2026, Muse comprises just 13 apartments designed by acclaimed architects <a href="https://www.apartments.com.au/architects/wmk-architecture">WMK Architecture</a> and Mathieson. The building’s design celebrates Potts Point’s heritage character while introducing refined modern elements like advanced building technology and private balconies and terraces that offer views of the Sydney city skyline.

[smartcode_project:default project_id=112613 project_image_fid=231687]

Luke Berry, Director &amp; Co-Founder at Thirdi Group, said Muse is a celebration of Potts Point’s unique character and charm.

"With only 13 residences, we’ve created something truly special for those who appreciate exclusivity and design excellence," Berry says"

"The views, the location, and the lifestyle make Muse a rare opportunity in Sydney’s property market. We’re thrilled to see the project take shape and look forward to welcoming our residents in mid-2026.”

[smartcode_project:default project_id=112613 project_image_fid=231686]

Only a limited number of residences remain at Muse.

Third.i recently launched The Rushcutters nearby, also just 13 large-scale apartments. The two-bedroom apartments were all snapped up in double-quick time. The three-bedroom apartments are priced from just under $5 million.

Potts Point has always been popular for apartment living, but given the lack of suitable development sites in the affluent suburb, new apartment developments have been few and far between.

Early next year Ceerose will launch <a href="https://www.apartments.com.au/new-apartments/belgravia-potts-point-117-victoria-street-potts-point-nsw-2011">Belgravia</a>, a mix of two- and three-bedroom apartments on Victoria Street.

[smartcode_project_cta:default project_id=112613]

Staff Writer

Third.i tops out Muse, Potts Point apartments

Buyer interest in Capital Corporation’s <a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> has been gaining momentum following the recent groundbreaking and the commencement of construction.

Enquiry data has pointed to a clear theme: larger apartments are leading demand, particularly among downsizers who want to remain on Sydney’s Upper North Shore.

Since June, three-bedroom layouts have attracted the highest level of enquiry. The three-bed, two-bath, two-car apartments priced from $1.69 million generated the most enquiries, the highest of any floorplan, followed by the larger three-bed garden residences which are priced at $2.25 million.

It's been a prevailing theme for Capital Corporation, who, in the early stages of marketing, reacted to buyer feedback to create more three-bedroom apartments.

The numbers echo what <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has observed since the project’s early stages. Buyers want generous internal space, established amenity and the ability to age in place without leaving the area.&nbsp;

[smartcode_project:default project_id=135247 project_image_fid=284378]

Capital Corporation Managing Director Jim Hunter said this was a major factor in the estate’s momentum, noting that “the combination of premium design, convenience and direct access to Sydney’s leading private hospital has proven to be a major drawcard”.

That connection to health and wellbeing has proven especially influential for older owner-occupiers. Research commissioned by Capital Corporation found that one in three Australians downsizing do so for health-related reasons, with a third specifically seeking proximity to medical facilities.&nbsp;

[smartcode_project:default project_id=135247 project_image_fid=262185]

The buyer profile emerging at <a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a> Estate reflects this shift. Local residents Peter and Corinne Collins, both in their mid-70s, are among those who chose to downsize within the suburb after decades in their family home. They secured a top-floor three-bedroom apartment after queuing on launch day in March, citing the bushland setting, walkability, and peace of mind of being close to medical services as key reasons for their purchase.

“Being able to walk everywhere, including to the hospital if we need to, really gave us peace of mind,” Corinne told Apartments.com.au.

Read more: <a href="https://www.apartments.com.au/news/nsw/from-family-home-to-bushland-retreat-why-peter-and-corinne-chose-the-residences-at-wahroonga-estate">From family home to bushland retreat: Why Peter and Corinne chose The Residences at Wahroonga Estate</a>

[smartcode_project:default project_id=135247 project_image_fid=3629]

Architecture firm <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a>&nbsp;are behind the design at The Residences at Wahroonga Estate. There are 128 one-, two-, and three-bedroom apartments, complete with interiors&nbsp;by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>. Floor-to-ceiling glass maximises views of the bushland ridgeline, while on-site amenity includes a residents’ lounge, pet-friendly Green Spine, BBQ pavilion and direct access to Coups Creek bushland and walking tracks.

Gold Star iCIRT-rated builder&nbsp;<a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>&nbsp;was&nbsp;appointed earlier this year to deliver The Residences at Wahroonga Estate. They are expected to complete the building in late 2027, with residents to move in shortly after.

[smartcode_project_cta:default project_id=135247]

Downsizer demand continues to shape The Residences at Wahroonga Estate

With Brisbane’s housing market soaring and home ownership becoming increasingly out of reach for many buyers, townhouses have emerged as the new urban dream, offering private, low-maintenance retreats complete with pools, parklands, and lifestyle amenities.

As Brisbane faces a growing shortage of quality new residential offerings, <a href="https://www.apartments.com.au/developers/honeycombes-property-group">Honeycombes Property Group</a> has released to the market Songbird Terraces, a boutique development of just 34 terrace homes in the heart of the leafy residential enclave of Oxley.

Offering a more affordable option to the white picket fence house, buyers can purchase a brand new architecturally designed three bedroom terrace home overlooking park and bushland with a communal heated pool, BBQ terrace, private parklands and an on-site café, while being just minutes from <a href="https://www.apartments.com.au/developments/oxley-qld-4075">Oxley</a>’s village centre, train station, and a range of schools and amenities.

[smartcode_project:default project_id=149443 project_image_fid=5241]

Each of the spacious three bedroom plus multi purpose room or four bedroom townhomes feature premium finishes, landscaped courtyards, designer kitchens, two-car accommodation, and optional upgrades for tailored living.

Honeycombes Property Group Managing Director Peter Honeycombe said with completion anticipated in early 2027, this was an incredibly rare chance to buy a fixed-price, brand-new, off the plan home in one of Brisbane’s most tightly held and liveable suburbs, without the stress of auctions and chaotic open homes.

“With prices starting from $1.195 million, <a href="https://www.apartments.com.au/new-townhouses/songbird-terraces-oxley-10-honeyeater-circuit-oxley-qld-4075">Songbird Terraces</a> are designed for owner occupiers seeking space, style and lifestyle, without the maintenance,” Honeycombe said.

“Surrounded by natural bushland and close to manicured parks, walking trails, boutique shops, cafes, cinemas and golf courses, Oxley continues to stand out as one of Brisbane’s most liveable suburbs.”

[smartcode_project:default project_id=149443 project_image_fid=355541]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Residential Director Andrew Scriven said with a limited number of homes available, Songbird Terraces was attracting strong interest from families, upsizers, first home buyers and downsizers looking for quality, location and long-term value.&nbsp;

“Demand is high, supply is low, and the market is crying out for high-quality homes in established well connected areas like Oxley,” Scriven said.

“What was once seen as a compromise between a house and an apartment a townhouse has now become a lifestyle choice, more and more homebuyers are shifting their focus from traditional detached houses to modern, low-maintenance townhouses that offer greater value and convenience.

“As the city’s population grows and urban sprawl becomes less sustainable, Brisbane’s townhouse market is set to expand even further.&nbsp;

“There’s definitely a panic from buyers who’ve been pushed out of the house market but still want to stay in well-connected suburbs with great schools and amenities, they are worried they will miss out as property prices continually rise.”

[smartcode_project:default project_id=149443 project_image_fid=5238]

After eight years of calling Australia home, Agnes Skoraczewska and Matt Biskupski decided it was finally time to take the next step and purchase a home of their own. With property prices continuing to climb, the couple didn’t want to wait any longer and secured a three-bedroom plus multi purpose room townhouse at Songbird Terraces, locking in a fixed price ahead of their move in 2027.

“The truth is, we didn’t want to wait any longer,” Biskupski said. “Seeing what was happening in the market, we realised now was the right time to buy. It gives us peace of mind knowing we no longer have to worry about renting.”

When they discovered Songbird Terraces, the decision came easily.

“The area is lovely and quiet, yet still so close to the city, it’s the perfect balance for work and life,” Skoraczewska said. “It’s a place where we can recharge our batteries while staying connected to everything we need.”

[smartcode_project:default project_id=149443 project_image_fid=5237]

For Agnes and Matt, buying off the plan offered the ideal solution, the confidence of securing their dream home at today’s prices, and the excitement of planning for the future in a community that perfectly fits their lifestyle.

As the final residential precinct within the Songbird Oxley master plan, Songbird Terraces will continue to breathe new life into the area and help create a suburb destination rich in lifestyle amenity.

Colliers Residential Director Lily O'Connell said Songbird is positioned to take full advantage of elevated north and east-facing parkland views, the homes feature low-maintenance design and high energy efficiency to reduce ongoing costs while enhancing everyday comfort.

“And with an array of layouts, catering to a diverse range of lifestyles this is an offering for all,” O'Connell said.

“This is the final release in a masterplanned community that’s become one of Oxley’s most desirable addresses, offering a last chance to enter this community where opportunities are few and far between.”

The homes will be delivered by Clearcon Builders, specialists in premium townhome construction. They will commence construction before Christmas, and is aiming to complete the development in early 2027.

<h2>Songbird Terraces Snapshot</h2>

<ul>
	<li>34 architecturally designed 3 bedroom + multi-purpose room terrace homes.</li>
	<li>An array of layouts, catering to a diverse range of lifestyles.</li>
	<li>Perfectly positioned to take advantage of north and east views over park and bushland.</li>
	<li>A multi-purpose room, which can serve as a second living area, teen retreat, study or fourth bedroom.</li>
	<li>Designer kitchens featuring high quality engineered stone benchtops and European appliances.</li>
	<li>Spacious outdoor living areas and landscaped courtyards perfect for alfresco dining.</li>
	<li>Generous internal and external spaces, designed to take advantage of views overlooking park and bushland.</li>
	<li>Low maintenance, energy efficient &amp; two car accommodation.</li>
	<li>Access to a heated resort-style pool, outdoor entertaining terrace and beautifully landscaped gardens and park.</li>
</ul>

[smartcode_project_cta:default project_id=149443]

Songbird Terraces offer 34 architect-designed townhomes in private enclave, surrounded by bushland, parks and resort style amenity

Townhouse living, Brisbane’s new affordable urban dream?

East Perth

The ASX-listed Perth developer Finbar Group are set to redevelop the old heritage-listed former Chemistry Centre on the fringe of Queens Park in East Perth.

The $154 million plans, drawn up by architecture firm S S Chang Architects, see the current heritage-listed building at 101 Hay Street, which dates back to 1942, incorporated in the design, acting as a base for a 27-level tower.

Given the vast 5,335&nbsp;sqm site, Finbar are also building another 38-level tower alongside. Combined the development will have 331 apartments.&nbsp;

The development plans pay homage to the heritage by retaining the Material Sciences building and a hexagonal design feature that also provides shade to apartments. The former Chemistry Centre will home 550 sqm worth of restaurant or cafes. There will be a further&nbsp;eight spaces slated for restaurant or cafe use, three personal service spaces and a shop, activating the 1,300 sqm of street level commercial space.

<img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/110_east_st_perth.jpg" width="1200" />

Finbar,&nbsp;alongside Singaporean developer&nbsp;Ventrade bought the 5,335 sqm site from the state government for $16 million.

In 2015&nbsp;the local developer Diploma Properties Pty Ltd was chosen as the preferred developer to transform the former Chemistry Centre site, with over&nbsp;200 apartments, dining venues and shops planned. That would have been a 16-level apartment tower with rooftop sky gardens.

The heritage component would have turned in to a laneway-style eat street.

<img alt="" height="1010" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/110_east_st_perth_2.jpg" width="1200" />

Finbar and Ventrade&#39;s plans will see a shared podium on level seven.

There&#39;s a clear intent to create a work-from home space following the border restrictions and reduced appetite to return to the office.

The development will have a business lounge with consult room, board room,&nbsp;and over 10 study pods.

<img alt="" height="850" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/finbar_east_perth.jpg" width="1200" />

Resident amenity will feature a landscaped deck, cinema, resident dining and bar, virtual golf simulator, meditation&nbsp;yoga room, a child play centre, activity games room, and two swimming pools.

The taller tour will also have a rooftop sky bar and gym.

Summary by the strategic planning, urban design firm Element Advisory

The proposed development presents an exciting opportunity to deliver a contemporary redevelopment of the subject site that accords with DWA&rsquo;s established vision for the area through the provision of:

&bull; A well designed, sustainable development that offers an outstanding level of amenity to residents and visitors, and respects and celebrates the cultural heritage significance of the subject site;

&bull; An activated, human scaled edge, through a suitably screened podium with slender residential towers above;

&bull; Extensive landscaping and pedestrian zones at the ground floor level, offering a high level of amenity for pedestrians and designed to celebrate the cultural heritage significance of the subject site;

&bull; A density and diversity of land use that will contribute to the critical mass of people required to activate the subject site and surrounds; and

&bull; Increased housing choice in the locality, complemented by a range of ground floor commercial tenancies that will offer employment and leisure options for a diverse range of people

Given the vast 5,335 sqm site, Finbar are also building another 38-level tower alongside. Combined the development will have 331 apartments

Finbar set for 331 apartments on East Perth's Queens Gardens

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<div class="heading">
The heritage-listed former East Perth Power Station is set to be transformed into “an iconic mixed-use waterfront precinct,” following the WA government’s announcement of the preferred proponents to develop the site. 
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<div class="content">
<div id="project">
Australian Capital Equity, the private investment arm of broadcaster Kerry Stokes and Minderoo Group, backed by mining magnate Andrew Forrest, were chosen from a shortlist of five proponents from a competitive process.
Located on the Swan River, the 8.5-hectare site will be transformed into a new residential, commercial, recreational and tourism precinct in the first stage of development over the next four years. Kerry Hill Architects has prepared concept designs for the proposed $218 million development.
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<source data-srcset="https://media5.architecturemedia.net/site_media/media/cache/e4/ed/e4edfed15f44908574579ec5481ba66a.webp" type="image/webp" srcset="https://media5.architecturemedia.net/site_media/media/cache/e4/ed/e4edfed15f44908574579ec5481ba66a.webp"></source><img class="['full'] full lazyloaded" src="https://media2.architecturemedia.net/site_media/media/cache/23/88/238841d37b6e88af7e3c37a8f19df502.jpg" alt="Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects." width="728" height="485" data-src="https://media2.architecturemedia.net/site_media/media/cache/23/88/238841d37b6e88af7e3c37a8f19df502.jpg">
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<div class="image has-slide" data-imgid="131528" data-sr="files/image_upload_2018-2019/epps_191216_03-interior.jpg"> </div>
<div class="image has-slide" data-imgid="131528" data-sr="files/image_upload_2018-2019/epps_191216_03-interior.jpg">Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects. </div>
The project will also include a variety of public spaces and a “living gallery” experience to showcase Aboriginal art as well as the state’s mining and resources industry.
The former East Perth Power Station occupies land that is significant to the local Whadjuk Noongar people. The state government says the traditional owners will be engaged with through Development WA’s Kaart Koort Waarnginy (Head Heart Talking) Framework. The development will also be named “Koomba Kalark,” which translates to “the place of the big fire.”
The development will also complement the nearby <a href="https://architectureau.com/articles/optus-stadium/" target="_blank">Optus Stadium</a> designed by Hassell, Cox and HKS and <a href="https://architectureau.com/articles/first-walk-completed-across-perths-matagarup-bridge/" target="_blank">Matagarup Bridge</a> by Denton Corker Marshall. 
WA premier Mark McGowan said, “This announcement marks a significant milestone in the revitalization of one of our iconic landmarks, the old East Perth Power Station. This kind of project has been talked about for years, and now it’s finally coming to fruition.”
The government has chipped in $50 million to prepare the site for development.
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<source data-srcset="https://media5.architecturemedia.net/site_media/media/cache/e6/25/e625d2c8028f2ad9722a1b4ef34b0e52.webp" type="image/webp" srcset="https://media5.architecturemedia.net/site_media/media/cache/e6/25/e625d2c8028f2ad9722a1b4ef34b0e52.webp"></source><img class="['full'] full lazyloaded" src="https://media3.architecturemedia.net/site_media/media/cache/56/23/5623b969cf59f90b8a00f7ef8d94a3da.jpg" alt="Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects." width="728" height="437" data-src="https://media3.architecturemedia.net/site_media/media/cache/56/23/5623b969cf59f90b8a00f7ef8d94a3da.jpg">
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<div class="image has-slide" data-imgid="131527" data-sr="files/image_upload_2018-2019/epps_191216_04-exterior.jpg"> </div>
<div class="image has-slide" data-imgid="131527" data-sr="files/image_upload_2018-2019/epps_191216_04-exterior.jpg">Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects.</div>
The East Perth Power Station has had a more than 100-year history and is one of the WA’s most significant industrial sites. It was constructed in 1916 and remained in continuous operation until 1968. 
According the state heritage register, “the place is rare as a large-scale thermal power station retaining its plant and equipment, constructed prior to the end of World War One, being one of only two such places in Australia.” 
It is also “a good example of a complex of utilitarian industrial structures, featuring distinctive interior spatial quality in the station turbine rooms with some Art Deco detailing.” 
In February 2008, the then Labor state government announced plans to transform the site into a $500 million museum, similar to the Powerhouse Museum in Sydney and Tate Modern in London. Later that year following the state election the new government led by Liberal premier Colin Barnett abandoned the plan and instead chose to build a <a href="https://architectureau.com/articles/hassell-and-oma-blend-old-and-new-in-new-wa-museum/" target="_blank">new museum</a> at the site of the existing WA Museum in Northbridge.
In 2015, the state government sought expressions of interest to develop the site into “an iconic, mixed-use waterfront destination.”
A number of proposals emerged, including proposals to turn the former power station into a farmers market, a World Trade Centre as well as Hassell-designed concept to create an art gallery and performance hall. That design, inspired by the jagged cliffs of the WA coastline, sought to create a building of rotating and shifting plank. Hassell received an award from the Chicago Athenaeum Museum of Architecture and Design <a href="https://architectureau.com/articles/australian-projects-win-at-2016-international-architecture-awards/" target="_blank">in 2016</a> for the unbuilt project.
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Concept designs unveiled for East Perth Power Station transformation

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
<img src="https://www.urban.com.au/images/2019/6/22/East%20Perth%20bargain%202.JPG" alt="">
A one bedroom, one bathroom East Perth apartment has sold for $275,000, some $145,000 less than its $410,000 off the plan sale in 2012.
The apartment at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> in the 2015 built VIBE complex initially sought $315,000 before its asking price was reduced to $299,000.
According to CoreLogic data, the change in East Perth's median price over the past 5 years is -23.7%.
The 2nd floor apartment has parkland views as well as access to a lap pool, BBQ area, modern gym facilities and a roof top theatre with panoramic city views.
Minutes from the CBD, it is within walking distance of Claisebrook Cove, Crown Casino and Optus Stadium
Josh and Sean Roberts of Realmark secured the sale after two months.
The unlucky vendors sought to flip the apartment on its completion, listing it unsuccessfully in 2015 asking offers from $449,000.
It is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
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Bargain property in East Perth? Near new apartment makes $150,000 loss 

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A one bedroom, one bathroom East Perth apartment has been listed by its mortgagee.
Featuring 51 square metres of internal living space, the apartment is in the VIBE complex.
Josh Roberts of Realmark Central holds the listing.
Situated at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> the apartment has 19 square metres of balcony space.
Built in 2015, the apartment has a price guide of $315,000.
It first traded in 2012 at $410,000.
Located on the second floor the unit features parkland views, open plan living and a modern kitchen.
The apartment failed to sell after 450 days on the market in 2015/2016 with a price guide of $439,000-$459,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/east-perth-wa-6004">East Perth</a> is $875,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.1%.
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East Perth apartment in VIBE complex listed at $95,000 reduction by mortgagee

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Situated in the Cosmopolitan apartment complex, an East Perth two bedroom apartment has been sold by mortgagees for $368,000 earlier this month. 
The 2nd-floor apartment was sold by Peter Andersen and Peter Wildermoth from Avenue One Property Group.
<a href="https://www.realestate.com.au/sold/property-apartment-wa-east+perth-126844298">Positioned at 9/259-269 Hay Street</a>, in the heart of East Perth, the Western Australian home comes with two bedrooms, open plan living and dining area, a generous balcony, lock up storage room and a secure car bay. 
It also features pool, gym, sauna and shared common areas.
It last sold at $275,000 in 2003.
Queens Garden, WACA ground, shopping &amp; cafés are within short walking distance. 
The suburb's median unit price sits at $465,000, according to CoreLogic.
 
 
 
 
 
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East Perth two bedroom apartment sold by mortgagee

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A Ray White Perth real estate agent is holding a 24-hour open home this weekend at not one but three multi-million dollar apartments - simultaneously.
The marathon open home even will kick off at 2pm Saturday and is being hosted by Brent Compton.
The <a href="https://www.propertyobserver.com.au/https://raywhitecityresidentialperth.com.au/properties/residential-for-sale/wa/east-perth-6004/apartment/1607630" target="_blank">11 Brown Street</a> units in East Perth are new waterfront apartments.
The apartments range from $6.25 million to $8.5 million. Features include three king size bedrooms, 3 metre high ceilings, home cinema, wine cellar and custom built home office. 
<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/2017/10/11/PerthFHB2.jpg" alt="">
“I am definitely the first Ray White agent to do this in Western Australia,” Compton said. 
He says he has 16 years of real estate experience.
<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/2017/10/11/PerthFHB2.jpg" alt="">
“I must say that I have never fallen asleep during an open home yet but I cannot promise that record will still stand after the weekend,” he said.
“I’ve got a wonderful team behind me who will bring me food, coffee and Red Bull. I might even talk to Daniel Riccardo about a Red Bull sponsorship.”
Compton is expecting his creative marketing will add interest.
“The properties we are doing this for are unbelieveable. These apartments are all FIRB approved and start from $6.25 million,” he said.
“Mardalup is the most extraordinary riverside development ever to be built in Perth. These apartments are all over 500 square metres which is bigger than the block that my own house is on.”
There are five palatial residences in this development which showcases world class interiors by Maria Monaco.
The apartments look across to the soon-to-be opened, new 60,000 seat Perth stadium, plus take in views of the new 6 star Crown Towers resort. 
In 2018, East Perth will be connected with the new stadium and casino by a suspension footbridge.
“We have three waterfront apartments available, each unique in colour scheme, but all equally spectacular and appealing to any astute buyer looking for long term growth and absolute comfort in an irreplaceable waters edge location,” Compton said.
“Everyone is welcome. I don’t mind if someone doesn’t have millions of dollars to spend. I’d still be very happy to show them through and to have a chat.
“The 24 hr open home allows for zero excuses for any serious potential buyers to come through. You could set off from Broome at the start of the open home and still make it in time to view to apartments.”
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