<a href="https://www.apartments.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach-qld-4218">Crest Broadbeach</a> continues to record strong sales momentum more than a year after launch of second tower, reinforcing buyer confidence in the <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> development as construction progresses on site.

The two-tower project on Armrick Avenue is now around 70 per cent sold. Around 90 per cent of the apartments in the first tower have been snapped up, with more than 40 per cent of sales achieved in the second tower since its mid-2025 release. With both towers now under construction and completion targeted for late 2027, Crest continues to attract buyer interest well after its initial launch.

The project’s sales success reflects Morris Property Group’s long-standing commitment to premium locations, delivery certainty, and apartments designed for long-term owner-occupiers.

[smartcode_project:default project_id=112024 project_image_fid=343113]

Crest occupies a rare position on Armrick Avenue, a leafy Broadbeach address that has seen minimal apartment development despite the suburb’s wider growth. The site overlooks expansive green space, including Broadbeach Park and the neighbouring bowls club grounds, offering leafy outlooks and immediate access to open space just moments from the beach.

That scarcity has been a key driver of urgency, particularly among buyers seeking a full-time coastal residence in an area where new supply opportunities are increasingly limited.

Delivery certainty has also played a central role. Morris Property Group is delivering Crest using its in-house construction team, with both towers being built concurrently, providing buyers with clear construction visibility at a time when confidence in project timelines has become a decisive factor.

The developer’s long-standing presence in Broadbeach has further reinforced buyer confidence. Crest is Morris Property Group’s ninth apartment development in the suburb since 2006, following recently completed projects such as Malo Broadbeach and with Maison Broadbeach currently under construction nearby.

[smartcode_project:default project_id=112024 project_image_fid=5430]

Pricing has also been carefully positioned relative to comparable beachfront and near-beach product. With two and three-bedroom apartments starting from $1.199 million, Crest has attracted both local downsizers and interstate purchasers seeking value without compromising location or build quality.

According to Apartments.com.au enquiry data, interest has remained broad-based, with Queensland buyers forming the core market and New South Wales accounting for around 20 to 30 per cent of enquiries since early 2024.

Apartments have been designed with owner-occupiers in mind, prioritising generous floor plans, practical storage, and low ongoing costs. Hybrid timber flooring, Bosch appliances, ducted air conditioning with condensers positioned away from balconies, and low body corporate levies, averaging around $90 per week for two-bedroom apartments, have resonated with buyers planning to live in the building long term.

[smartcode_project:default project_id=112024 project_image_fid=286005]

Resident amenity has been curated to support everyday use rather than short-term spectacle, with a gym, pool, barbecue facilities and landscaped outdoor spaces integrated into the development.

As broader market conditions continue to reward projects that combine location discipline with delivery certainty, Crest’s sales performance highlights where buyer demand is consolidating in Broadbeach, towards established streets, proven developers, and apartments designed for permanence rather than turnover.

[smartcode_project_cta:default project_id=112024]

Joel Robinson

Sustained sales momentum underpins demand at Morris Property Group’s Crest Broadbeach

<article data-scroll-anchor="true" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:2cd0935f-64f2-4642-8736-f0c056a17aa8-1" dir="auto" tabindex="-1">
South East Queensland developer SIERA has lodged a development application for a 27-storey residential tower on Chevron Island, marking its third project in the Surfers Paradise area and second within the island precinct.

Designed by Gold Coast-based BDA Architecture, the proposal comprises 130 apartments across a slender tower positioned opposite Chevron Island Park. The 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-19-anembo-street-surfers-paradise-qld-4217">17-21 Anembo Street</a> sits at the western entry to the island and offers protected view corridors towards the Nerang River and hinterland.

According to SIERA Founder Brent Thompson, the design intent has been to create what he describes as “a Queenslander in the sky,” with a narrow floorplate to minimise overshadowing, maximise cross-ventilation and respond to the subtropical microclimate.

The podium has been articulated with layered materials and cascading landscaping to provide a transition between the park frontage and the residential tower above. A full-floor communal amenity level on level four will capture elevated park and river views, providing residents with wellness and recreation facilities in a private setting.

<img alt="Siera" data-entity-type="file" data-entity-uuid="7d1008c8-e1b5-4923-a568-29f356068e3f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-16%20at%204.06.44%E2%80%AFPM.png?VersionId=p_0qI12aHgz3M8aHFbUoduXBOKDhcrqV" />

Thompson said the project continues the developer’s focus on Chevron Island, a precinct he believes has been “significantly underrated” but is now gaining broader recognition.

“The demand we’ve seen at Tapestry, nearing sell-out and completing later in 2026, confirms this is where Gold Coast residents want to live,” he said.

“It offers something rare: quiet neighbourhood character with wide, tree-lined streets, genuine local amenity, cafes, quality restaurants, medical services, daily necessities, and excellent connectivity to the light rail, beaches, river and HOTA, without feeling touristy or transient. As one of only two true island residential communities on the Gold Coast with limited development opportunity, this will become one of the coast’s most coveted addresses for those seeking a genuine residential lifestyle.”

Chevron Island has undergone steady evolution in recent years, benefiting from its proximity to HOTA and improved connectivity to Surfers Paradise and the light rail network. Thompson described the location as presenting “a unique window of opportunity”, noting that while buyer activity is strong, “pricing hasn’t yet caught up to comparable locations.”

“For buyers who understand the precinct’s trajectory, particularly its proximity to HOTA and the cultural activation happening there, this represents compelling value,” he said.

<img alt="Siera" data-entity-type="file" data-entity-uuid="b005e328-a3a6-4cd0-984d-2d1031dd3e56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-16%20at%204.06.52%E2%80%AFPM.png?VersionId=.QRZbzJyrURcfxU.bBJbsBaUFoQD1uVw" />

Apartment configurations will comprise two- and three-bedroom layouts targeted primarily at local owner-occupiers. Thompson said the homes are designed for “practical living,” with natural light, cross-ventilation and generous outdoor spaces central to the planning approach.

“We’re not chasing volume,” Thompson added. “We’re focused on delivering projects in the right locations for genuine owner-occupiers. Chevron Island offers an incredible combination of lifestyle, connectivity and value that we believe is significantly underappreciated in the broader Gold Coast market.”

The Anembo Street proposal follows SIERA’s 113-apartment Tapestry development on Chevron Island, currently under construction and due for completion in 2026. The developer recently completed Pipis in Bilinga and is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a 54-apartment project in Northcliffe, Surfers Paradise, in the second quarter of 2026, with 40 per cent of apartments reportedly secured ahead of its formal launch.

SIERA operates as a vertically integrated builder-developer, managing acquisition, design, sales and construction in-house.

“We’re builders at heart who develop exclusively for ourselves,” Thompson said. “We don’t build for others; we refine what we do for our residents and owners. That focus allows us to control and oversee every detail, every communication, every interaction with stakeholders from neighbours to owners to council. We’re relentless in pursuing thoughtful design for practical living.”

Pricing for the Anembo Street project has not yet been released and remains subject to development approval. The application is currently under assessment by Gold Coast City Council. If approved, construction is anticipated to commence in late 2026, with completion targeted for 2028.
</article>

First look: SIERA doubles down on Chevron Island with new tower plans 

Nick Moylan’s Monde Property is advancing plans for its Prahran project, <a href="https://www.apartments.com.au/new-apartments/one-charles-1-charles-street-prahran-vic-3181">One Charles</a>, seeking to expand the approved scheme.

<a href="https://www.apartments.com.au/developers/monde">Monde Property</a> previously secured approval for 26 apartments on the 1,582 sqm site bordering High Street and Charles Street. It is now seeking to add a further 15 apartments, bringing the total to 41.

The developer has opted to proceed through the Victorian Government’s Development Facilitation Program (DFP), an initiative designed to accelerate planning approvals for priority projects, including significant residential developments, affordable housing and key economic projects.

The revised scheme will include an affordable housing component.

Monde engaged Tristan Wong to redesign the building, removing the podium and increasing the height from six to eight storeys. The changes allow for more generous ceiling heights across every level and reflect a scale that Moylan says is “more appropriate for the site.”

“Going through the DFP allowed us to create a more suitable building design for Prahran, removing the podium, which is more in line with a skyscraper than what we should see in this area,” Moylan says.

Moylan speaks highly of the DFP, which was introduced by the Minister for Planning in 2020 and expanded in 2023 following the Victorian Housing Statement to include more residential developments.

“Rather than being so prescriptive, as local councils and VCAT can be, the team at the DFP trust the designers and planners in how the building presents, instead of pushing for a more uniform, singular outcome. The pathway has allowed us to create a more elegant response that benefits both buyers and locals in Prahran.”

<img alt="First look: Monde upsizes Prahran mixed-use project after VCAT-backed redesign" data-entity-type="file" data-entity-uuid="a4ab54fa-acc0-46f1-8d64-b47081c2c8a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/prahran%20bldg%20a.png?VersionId=4JNqN5GsHqrmdjZ9PvmTeA1V9eP8UxCe" />

The new permit is expected to be issued in the coming months, after which Monde will relaunch the project. The revised plans comprise a mix of 17 two-bedroom apartments and 27 three-bedroom residences. The development will include more than 80 car parking spaces, along with extensive bicycle storage.

A communal garden on the ground floor will wrap around a wellness space featuring a spa, cold plunge and sauna.

Design documents prepared by Tristan Wong Architecture state that the project seeks to “deliver a high-quality residential development that makes a positive and lasting contribution to both its residents and the broader community of Prahran.”

The report adds that the building’s massing has been carefully modelled to transition to its surrounding context, with robust materials such as brick and precast concrete selected to reference the established character of the area while ensuring longevity.

Monde Property is also exploring further opportunities in both Melbourne and interstate markets, with additional residential and commercial developments under consideration.

Monde upsizes Prahran apartment project One Charles after "more suitable" redesign

Brisbane's riverside suburb of Hamilton is set to grow into the next apartment development hotspot.

Already favoured by GRAYA and Fortis for their upcoming projects, two more site transactions have taken place, firmly putting Hamilton on the map for new apartments in the short to medium term.

South East Queensland developer Frank Developments is stamping its authority on the suburb, paying $16.5 million for 60 Kingsford Smith Drive, a 1,640 sqm site directly opposite the Breakfast Creek Hotel.

It is the second site Frank Developments, led by Frank Licastro, has secured on the prominent riverfront strip. He also controls 92 Kingsford Smith Drive, where he and joint venture partner Signature Property Partners are preparing to launch Alba, a 72-apartment project comprising two, three and four-bedroom residences designed by BYCulprit.

MP Commercial said the latest transaction represents a “natural evolution” for Frank Developments as it continues to expand its presence in the area. The agency has exchanged on $53.5 million worth of prime inner-city development sites across three deals in the past fortnight, signalling sustained appetite for well-located infill opportunities despite broader market caution.

The Kingsford Smith Drive corridor has long attracted developer interest given its river frontage, proximity to the CBD and established amenity, but tightly held ownership has historically limited supply. Sites with uninterrupted views across the Brisbane River to Newstead Park and the city skyline are particularly rare, placing a premium on scalable parcels with favourable planning controls.

Also securing a new site, its first in Hamilton, is Rhett Williams’ Vector Property, the developer behind BANKSII in East Brisbane, a 72-apartment project opposite Raymond Park that it is developing alongside joint venture partner Core Property Partners.

Vector has secured a 2,325 sqm site at 12 Hercules Street, zoned mixed-use high density within a Priority Development Area, providing planning flexibility for a residential-led outcome.

Vector said the acquisition aligns with its focus on “disciplined capital deployment, downside protection, and strong risk-adjusted returns,” pointing to depth of demand and proven absorption in the inner-ring market.

The Hercules Street site is fully serviced and positioned close to established retail, dining and public transport, as well as major employment nodes including the CBD and Brisbane Airport. Hamilton’s connectivity, combined with its riverside setting and ongoing urban renewal, continues to support demand from both owner-occupiers and investors seeking proximity to lifestyle amenity.

Luxury developer GRAYA is hoping launch its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-graya-expands-hamilton-presence-with-the-gallery-apartments">Racecourse Road apartment development</a> this year, which will add another 53 apartments to the Hamilton pipeline, while <a href="https://www.apartments.com.au/news/qld/fortis-doubles-down-on-brisbane-files-boutique-apartment-plans-on-hamiltons-racecourse-road">Fortis has approval</a> for its 12-unit shoptop next door.

Hamilton primed for growth as apartment developers jump in

Developer DAKL Group has expanded its holding on Stanley Street, one of the main inbound thoroughfares of East Brisbane, acquiring an additional site to add to the property it purchased in late 2025.

In December, DAKL, led by director Kieran Gartshore, paid $5 million for a showroom at 899 Stanley Street, an 845 sqm site that was being offered for sale for the first time in 130 years.

The group has now spent $9.35 million securing the adjoining 1,722 sqm site at 891 Stanley Street East, taking its total holding to more than 2,615 sqm.

“We’re excited to expand our investment in the Woolloongabba PDA,” Gartshore said of the recent acquisition.

“By combining this site with our adjoining property, we can continue supporting existing tenants in the near term while working with EDQ (Economic Development Queensland) to create a high-quality residential development in the future.”

CBRE’s Nick Wedge and Will Carman managed the sale, describing the site as a “truly rare offering given its significant development upside”. It can rise to 15 storeys, subject to council approval.

“We are very excited to see the buyer’s plans evolve and add to this already prominent precinct,” Carman added.

East Brisbane has been a popular location for development in recent years. Sarazin is currently building <a href="https://www.apartments.com.au/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane-qld-4169">Murcia Residences</a> on Overend Street, while Core Property Partners is marketing BANKSII on Wellington Road.

Sarazin also has plans for nearly 800 apartments in a project called <a href="https://www.apartments.com.au/new-apartments/hampton-yards-east-brisbane-21-wellington-road-east-brisbane-qld-4169">Hampton Yards</a>, also on Wellington Street.

DAKL Group secures prime apartment development site as East Brisbane demand grows

<html><body>
EG, one of Australia’s leading commercial real estate fund managers, draws the Core Plus Fund (CPF1) to a close with the successful sale of North West Plaza, Everton Park QLD.
EG’s CPF1 was initiated in 2014 with a total gross acquisition asset value of $231 million across 7 assets over a 3-year acquisition horizon. 
The Fund consisted of Sydney, Melbourne and Brisbane office, industrial and retail real estate assets which had the potential for uplift via strategic capital works and active asset management initiatives.
“We are incredibly happy with the performance of CPF1. The Fund has vindicated the investment strategy of identifying and acquiring assets which disproportionally benefit from repositioning while also ensuring strong underlying cash-flows on limited downside risk” Divisional Director, Daniel Farley said.
Assets within this portfolio also included office properties 92 Pitt Street Sydney, 277 William Street Melbourne and 223 Liverpool St, Darlinghurst.
 The Fund will deliver net returns to investors of well over 20% EIRR.
The final disposal for the Fund was Brisbane neighbourhood shopping centre, North West Plaza, (pictured above) which has transacted at $42.5 million in June 2019. 
The successor fund, EG’s Australian Core Enhanced Fund (EG ACE) has completed its first close of $500 million and is open for further investment for the next 12 months.
</body></html>

Eg

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Eg