Sun Property Group (SPG) has taken a major step to reinforce its commitment to consumer trust by securing Latent Defects Insurance (LDI) from Resilience Insurance for its nearly completed Willoughby development on Sydney’s Lower North Shore.

The boutique project, Aurora, comprising 12 apartments and a ground-floor commercial space, is one of few in the region to adopt the forward-thinking insurance model—offering a point of difference in a competitive market.

For Cameron Johnson, General Manager at Sun Property Group, the decision to adopt LDI was rooted in the company’s long-standing philosophy of maintaining a highly personalised relationship with its end users.

“We’ve always taken ownership over our product,” Johnson said. “Introducing LDI is not just about peace of mind for the buyer—it’s about raising the internal bar. It becomes the baseline for how we do things going forward.”

[smartcode_project:default project_id=109919 project_image_fid=205006]

While hundreds of developers and builders have taken out an LDI policy from Resilience Insurance, the insurance is still relatively new to Australia. Johnson says he sees significant future potential with LDI nationwide, with both&nbsp;regulatory and market frameworks starting to evolve to support its wider use in class two buildings.

“When we started the Willoughby project, LDI was still just a concept being floated by the Building Commissioner’s office," Johnson says.

"Delays in the construction timeline gave us the unique opportunity to adopt it as the product became more available in late 2023."

That timing aligned with a shift in construction contractors on the project, which opened the door for a more collaborative and considered implementation of the insurance. According to Johnson, Resilience Insurance was proactive and solution-oriented.

“It wasn’t just about us buying a product off the shelf. It was a dialogue—how can we work together to deliver something that meets both of our needs?” he added.

[smartcode_project:default project_id=109919 project_image_fid=5717]

LDI covers major structural defects for up to 10 years post-completion and offers an alternative to the traditional developer bond held under the Department of Fair Trading’s scheme. SPG prudently factor in a two per cent cost profile for such measures into its feasibility, treating it as “business as usual.”

“What LDI does is show the consumer that we’re front-ending our responsibilities—design, delivery, documentation, execution. That whole chain of custody is assessed and independently reviewed throughout construction. It’s a rubber stamp on quality,” Johnson said.

In a region where no other nearby developments currently carry LDI, the move also creates a market differentiator. While some projects may carry an iCIRT rating, few offer the depth of protection and oversight that LDI provides, especially outside of publicly listed organisations.

Aurora is being brought to market by Henry Burke of McGrath Projects. With the recent cut in interest rates Burke expects that many first home buyers and investors will jump at the chance to buy in Aurora due to its convenient location, fantastic retail amenity, picturesque parks with leafy walks, and excellent transport connections with only one stop to Sydney CBD. He expects a local owner-occupier to secure the standout penthouse which offers 175 sqm of internal space and further 200 sqm of outdoor space.

[smartcode_project:default project_id=109919 project_image_fid=205010]

Johnson says Aurora residents will not only benefit from the first right insurance policy, which means action is taken immediately rather than often long and complicated battles as developers and builders point fingers at each other as to who created the issue, but from how it can benefit the strata communities of the building.

Many buyers, especially first-time apartment owners, have limited understanding of shared infrastructure or the responsibilities of Owners Corporations. LDI adds an important layer of education, structure, and protection.

“People want to move in and enjoy what they’ve bought. But when things go wrong, that’s when emotions and stress levels rise. The insurance policy gives owners a clearer path to resolution—an assured, regulated compensation process. It also helps equip owners and managers with the knowledge they need to maintain the building properly.”

The insurance includes tools such as service penetration matrices and access documentation—going far beyond standard build drawings. Johnson says it’s about delivering not just a home, but a sustainable, manageable asset.

[smartcode_project:default project_id=109919 project_image_fid=343670]

Sun Property Group continues to build on its strong track record across Sydney’s Lower North Shore, with an upcoming major development of its Bowen Street, Chatswood landholdings and additional projects underway in Melbourne. The team recently completed its debut Melbourne apartment project, The Brookville in Toorak, showcasing their commitment to delivering high-quality, design-led communities.

In a region where no other nearby developments currently carry LDI, the move also creates a market differentiator

Joel Robinson

Sun Property Group approaches completion of Willoughby's first apartment development with 10-year Latent Defects Insurance

Renowned developer-builder DASCO has unveiled its much-anticipated new development in the heart of Epping.

The architectural brief for Turner Studio was to “create a community where residents are completely immersed in a paradise for the senses.”

The result is <a href="https://www.apartments.com.au/new-apartments/senso-epping-242-244-beecroft-road-epping-nsw-2121">Senso</a>, a series of buildings that have been oriented around an unrepeatable 10,000 sqm-plus site to create a facility-laden, landscape-first precinct, something of which Epping and its surrounds have not seen before.

There are 479 apartments available in a variety of floorplans across the five buildings, a mix of one-, two-, and three-bedroom apartments in addition to a curated penthouse collection.

[smartcode_project:default project_id=134954 project_image_fid=4553]

The apartments have been designed to appeal to the owner-occupier market, with generous floorplans, premium materials, and optional upgrades including integrated refrigeration, bespoke joinery, and motorised blinds.

<a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a>, who builds its own developments, is once again bringing peace of mind to its clients by taking the 10-year Latent Defects Insurance policy offered by Resilience Insurance, which protects buyers against any structural or waterproofing issues for 10 years post completion of the building. This insurance can only be taken out by the builder or developer and not by individual apartment owners.

[smartcode_project:default project_id=134954 project_image_fid=4552]

DASCO is known for creating more than just apartments — they create places where people connect. Senso will have over 4,000 sqm of resort-inspired communal amenity in the form of two rooftop pools, a celestial outdoor cinema, wellness club, sensory walk, and an observation deck, in addition to multiple BBQ and outdoor communal areas on multiple levels, intended to deliver a complete lifestyle offering within the residential environment.

There will be over 800 sqm of retail space on street level, which will likely be run as hospitality venues.

[smartcode_project:default project_id=134954 project_image_fid=4396]

Located adjacent to the new Epping Town Centre masterplan, and just a five-minute walk from Epping Metro Station, Senso offers seamless access to Macquarie Park, Chatswood and the Sydney CBD. Families who are interested in the large two- and three-bedroom apartments are within proximity to several regarded educational institutions including Macquarie University, James Ruse Agricultural High, and Cheltenham Girls School.

The project also leverages Epping’s growing dining and retail precinct, proximity to Macquarie Centre, and access to natural assets including Terrys Creek walking trails and Boronia Park.

[smartcode_project:default project_id=134954 project_image_fid=4399]

With a 33-year track record and over 7,000 dwellings delivered, DASCO continues to develop and build; a business model that enables integrated delivery and peace of mind, especially when Senso is backed by Latent Defects Insurance (LDI), providing 10 years of protection for buyers at no additional cost.

The launch of Senso Epping reinforces DASCO’s active pipeline of Sydney-based developments at a time when the market is increasingly focused on owner-occupier appeal, delivery confidence, and long-term quality.

DASCO is partnering on Senso Epping with leading Australian alternative asset management firm Metrics, which has more than $30 billion in assets under management.

[smartcode_project_cta:default project_id=134954]

DASCO reveals Senso, Epping’s first resort-style apartment development

Preliminary data by research giant Charter Keck Cramer reveals a 54 per cent decline in Build to Sell apartments across Australia's capital cities, while the Build to Rent boom continues with a 378 per cent increase over the last five years.

Charter Keck Cramer's upcoming National State of the Market Report - Key Metropolitan Areas, scheduled for release in September, will reveal&nbsp;a dramatic transformation in apartment supply patterns across Australia's capital cities between FY2016-2020 and FY2021-2025.

The Build to Sell (BTS) apartment sector has experienced a substantial contraction, with total supply falling by 54 per cent compared to the previous five-year period. The decline represents a reduction of 149,200 apartments across all capital cities.

<img alt="BTS Charter Keck Cramer" data-entity-type="file" data-entity-uuid="3db2ddf3-e7c0-481f-b8b9-63efb365cb80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.26.34%E2%80%AFAM.png?VersionId=bsQl8inhZA7FeiPamnGvw1tse0obBdSd" />

Sydney led the downturn with a decrease of 73,600 apartments, followed by Melbourne (-42,800) and Brisbane (-26,800). Perth and Adelaide also recorded significant declines of 6,400 and 2,400 apartments respectively. Only Gold Coast and Canberra bucked the trend, with modest increases of 500 and 2,300 apartments.

In stark contrast, the Build to Rent (BTR) sector has emerged as a major force in the apartment market, recording a remarkable 378% increase in supply. This growth added 8,590 apartments across the capital cities during FY2021-2025. Melbourne dominated BTR growth with 6,160 additional apartments, while Sydney contributed 2,100 units. Brisbane and Canberra also recorded growth of 800 and 330 apartments respectively. Gold Coast and Perth recorded minor declines, while Adelaide maintained steady levels.

<img alt="BTR CKC" data-entity-type="file" data-entity-uuid="ca13ffd4-ab93-4828-afd2-4c3dccbd2b51" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.28.54%E2%80%AFAM.png?VersionId=SXNnpcJuFD36ViWOwF6izBBqcQc3NWao" />

“These preliminary findings indicate a fundamental shift in Australia's apartment development landscape, with traditional Build to Sell models giving way to institutional Build to Rent developments,” said Richard Temlett, Charter Keck Cramer’s National Executive Director of Research.

"This transition reflects changing investor preferences, regulatory environments and housing affordability challenges across major metropolitan areas.”

The complete Charter Keck Cramer National State of the Market Report – Key Metropolitan Areas will provide comprehensive analysis of these trends, their underlying drivers and implications for developers, investors and policymakers when released in September.

Build to Sell apartment supply drops 54% in five years across Australian capital cities

Verso Development Group is seeking to bring over 1,100 apartments to the heart of Brisbane's Toowong, with plans filed for a $1 billion, triple tower development known as Toowong Central.

The landmark urban regeneration project "aims to reshape the core of Brisbane’s inner-west riverside suburb."

Covering over 1.4-hectares across&nbsp;Sherwood Road, High Street, and Jephson Street, Toowong Central has been designed by KHA and will comprise three towers rising 49, 55, and 58 levels.

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="48611e3d-7123-4b99-b2cb-bfa4bc98024f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenities.png?VersionId=yKBexB.BgCkq4OET8fHDkWs0d3DjxOKJ" />

According to the Urban Context Report prepared by Urbis, Toowong Central is positioned as a “city-defining precinct reclaiming Toowong as ‘the best destination in the west’,” with a vision to deliver density differently, strengthen Toowong’s identity, and lead subtropical urban design.

There will be a wide range of apartment configurations, from one-bedrooms to five-bedroom penthouses, as well as short-term accomodation offerings. The design prioritises pedestrian permeability, with an activated public realm featuring a central civic plaza, laneways, and street-level retail and dining.

“The central square’s structure, programming, scale and location creates a social anchor - shaped by its edges, flexible for use, and animated by a diversity of experiences throughout the day and into the evening,” the Urban Context Report noted, reinforcing the project's ambition to become a vibrant community destination.

Design excellence was pursued through an international design competition, attracting entries from renowned practices such as UNStudio and BIG. KHA’s winning design distinguished itself with a ceremonial approach to the public realm, integrating terraces, tiered seating, and green infrastructure to promote social interaction and resilience.

The development builds upon two existing approvals: the 25- and 20-storey towers of the Aviary Toowong proposal, and a separate 25- and 24-storey approval at 88 Jephson Street. Consolidation of these fragmented landholdings under a precinct-wide approach allows for increased community value and cohesive urban integration.

Urbis Director Nicholas Stevenson said Toowong Central will bridge the gap in Toowong's current experience, unlocking the potential of the wider precinct.

"Overcoming experiential constraints and leveraging contextual advantages – Toowong Central will redefine Brisbane's inner west.”

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="73f7a702-625d-452d-9df2-30a0863ac1e8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/master.png?VersionId=TZdh6wxGC_8IIroXpdkZfuhlS8mFZnea" />

Toowong Central’s ambition extends beyond residential and commercial outcomes. Uses under consideration include a world-class hotel, university facilities, a museum, and health and wellness services, reflecting its role as a western gateway to Brisbane’s growing innovation corridor between the CBD and the University of Queensland.

Urbis Managing Partner James Tuma said Brisbane has no greater opportunity to showcase the future of urban living than Toowong – a sustainable, economically vibrant, and people-centric place that embodies the best of Brisbane.

[The plans] gives us a glimpse into our future as a globally relevant, youthful, entrepreneurial, and distinctly subtropical city.”

$1 billion Toowong Central to deliver 1,100 apartments to undersupplied Brisbane market

In <a href="https://www.apartments.com.au/developments/runaway-bay-qld-4216">Runaway Bay</a>, new townhouse-scale waterfront residences are rare - but ones built to the standards found on Sovereign Island are almost unheard of.

<a href="https://www.apartments.com.au/new-townhouses/ocean-suites-on-jennifer-10-12-jennifer-avenue-runaway-bay-qld-4216">Ocean Suites on Jennifer</a>&nbsp;changes that, delivering a calibre of construction and detailing that places its seven villas well above the typical market offering in this northern Gold Coast pocket.

Ocean Suites on Jennifer will be move-in ready before Christmas this year, giving buyers the chance to spend the summer on the water in one of Runaway Bay’s rare new waterfront residences.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214444]

The development is a collaboration between <a href="https://www.apartments.com.au/architects/stuart-osman">Stuart Osman Design</a> and <a href="https://www.apartments.com.au/developers/sand-side-developments">Sand Side Developments</a>, with construction by <a href="https://www.apartments.com.au/builders/alroe-constructions">Alroe Constructions</a>.

Architect Stuart Osman says the intent from the outset was to create a home people would be drawn to. “When you build anything, the design is to make you want to go hang out in this house,” he says.&nbsp;

Ocean Suites on Jennifer’s design features a front façade softened with planter boxes, rear pool areas, and rooftop decks looking over the water.&nbsp;

Inside, voids and high skylights bring daylight deep into the centre of each home, while ceiling heights of 2.85 metres maintain a strong sense of volume.

Each four-level residence spans 345 to 388 sqm, with layouts accommodating multi-generational living - a ground-floor bedroom suite for older family members and upper levels for the rest of the household. A lift connects all floors.

[smartcode_project:default project_id=138718 project_image_fid=214435]

For Andrew Erwin, Director at NPA, the project’s appeal lies in both its location and the detail in execution.&nbsp;

"At Ocean Suites, you’ve got a canal-front setting with direct Broadwater access and a level of finish you’d normally only see in the city’s most prestigious addresses. The four-level layouts, the glass-framed living areas, the private pools, even the extended kitchens, every part of it has been designed with the buyer in mind,” he says.

Those buyers have so far been a mix of Gold Coast locals and interstate purchasers, many seeking a lock-up-and-leave holiday home or a downsized residence without sacrificing space for visiting family.&nbsp;

Older households with teenage children are a recurring profile, drawn to layouts that support multi-generational living and the ability to host extended stays.

[smartcode_project:default project_id=138718 project_image_fid=214432]

Material selection reinforces the project’s quality-first ethos, with every home appointed to a premium standard. Kitchens and ensuites feature engineered stone surfaces, complemented by prestige oak engineered timber floors, Victorian ash hardwood staircases, and soft loop-pile carpet.

Premium lighting, statement pendants, ceiling fans, and Fujitsu ducted air conditioning elevate both comfort and design. Each residence also includes a suite of high-end appliances as standard - Fisher &amp; Paykel integrated fridges, Bosch ovens, induction cooktops and dishwashers, Vintec wine fridges, and Franke sinks.

Beyond the interiors, residents enjoy an enviable lifestyle with rooftop terraces, private plunge pools, fire pit areas, outdoor showers, smart home automation, laundry chutes, and private pontoons.

[smartcode_project:default project_id=138718 project_image_fid=214452]

With no additional upgrade costs, Sand Side Developments underscores its no-shortcuts approach, delivering homes where luxury and amenity come as standard.

Osman adds that the kitchen has been designed as “the main hub of the house” with six metres high skylights above a galley-style layout that “makes it feel bigger, brighter, whiter” and “brings light into the centre of the home.”

Both architect and builder emphasise a shared commitment to delivering the intended design without compromise. “Working with Alroe’s structural team and their construction team, it’s been great to make sure that the look and feel that was originally intended is the result achieved at the end of the project,” Osman says.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214453]

Outdoor living has been given equal consideration, with rooftop terraces designed for entertaining with a fire pit and bar, and spacious undercover patios featuring private plunge pools.

The marine access is as carefully executed as the homes themselves. An eight-metre gangway leads to a six-metre private pontoon capable of mooring vessels up to 30 feet, just 300 metres by water from the Broadwater.&nbsp;

Even the orientation of each villa has been optimised to capture long views down the canal, across the Broadwater, and south to Main Beach.

With construction in its final stages, just three of the seven villas remain, priced from $3.365 million to $3.695 million.

[smartcode_project_cta:default project_id=138718]

Sovereign Island standards come to Runaway Bay with Ocean Suites on Jennifer

Greensborough

Just 17-kilometres from Melbourne’s city centre, <a href="/developments/greensborough-vic-3088">Greensborough</a> has developed into a suburb for everyone.&nbsp;

Combining lush greenery, convenient amenity and a lively entertainment hub, the leafy suburb is a suburban haven afforded with efficient public transport, easily <a href="/developments/greensborough-vic-3088">connecting the neighbourhood</a> to the wider <a href="/developments/melbourne-vic">Melbourne</a> region. &nbsp;

Home to sprawling parklands and scenic walking tracks, it is also a place to reconnect with nature and find time for serenity. With <a href="/developments/greensborough-vic-3088">Greensborough</a> Plaza, Hoyts cinema, and bustling Main Street also at hand, the <a href="/developments/greensborough-vic-3088">Greensborough community</a> enjoys a well-balanced and vibrant lifestyle.

Developer Citinova is one of few developers who has pinpointed the suburb as having the potential for future growth. Their apartment development, Albero, is soon to complete and stand as the only new apartment development in the suburb.

Read more:&nbsp;<a href="/news/vic/why-investors-are-looking-for-value-in-greensborough">Why investors are looking for value in Greensborough</a>

[smartcode_project:default project_id=4722 project_image_fid=212352]

Residents of Albero will be within close proximity to Greensborough’s generous transport offerings, with the newly developed Greensborough Station located just a short stroll away for residents needing to commute to the CBD.

The recent upgrades have not only improved connectivity to the city but also within the community, with a new covered pedestrian bridge improving connectivity to Para Road, the Plenty River Trail, as well as the local Greensborough shopping precinct.&nbsp;

Read more:&nbsp;<a href="/news/vic/the-downsizer-appeal-at-albero-greensborough">The downsizer appeal at Albero, Greensborough</a>

Greensborough Road and the Metropolitan Ring Road are also just moments away, providing greater connectivity to the city and the airport.&nbsp;

The new links will see residents access Greensborough Plaza in just a five-minutes walk, with the precinct home to a range of retailers, eateries, supermarkets and shopping outlets, as well as a Hoyts, and a number of banks and medical services.&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=214184]

While offering the convenience of being close to local amenity, Albero is also afforded with the balance of being within walking distance to several walking trails, and green open spaces.&nbsp;

Poulter Reserve is adjacent to the site, while the Plenty River and its combined trail are also nearby, offering plenty of outlooks throughout.

Read more:&nbsp;<a href="/news/vic/the-team-behind-the-new-greensborough-apartment-development-albero">The team behind the new Greensborough apartment development, Albero</a>

Greensborough Park is a seven-minute walk away, with the park home to a number of reserves, as well as Greensborough Skatepark, Diamond Valley United Soccer Club, St Marys Tennis Club and Kalparrin Gardens, which has its own associated lake in Kalparrin Lake.&nbsp;

Families are also afforded plenty of educational opportunities within Greensborough, with Briar Hill Primary School and Montmorency Secondary College just down the road, while Greensborough College is a short five-minutes drive away.&nbsp;

Albero is slated for completion in Q4 2023, with buyers moving in shortly after.

[smartcode_project_cta:default project_id=4722]

Developer Citinova is one of few developers who has pinpointed the suburb as having the potential for future growth

alisonwarters@gmail.com

“Futureproofing for generations to come”: Why Albero Greensborough apartments present a unique offering

Albero Apartments in Greensborough have been capturing the attention of local buyers, signalling a successful venture for developers Citinova.

The residential development, a collaboration between InvoDesign, Point Architects, and Biasol, is set to provide contemporary and elevated living in a serene environment, surrounded by lush greenery and sprawling tree scapes.

Notably, downsizers have emerged as a significant portion of the buyers, drawn to the appeal of Albero.

One such local buyer, Kathy, recently made the decision to downsize from her family home and opt for a two-bedroom, two-bathroom apartment at Albero.

[smartcode_project:default project_id=4722 project_image_fid=212352]

Despite being new to the concept of purchasing off the plan, Kathy expressed her satisfaction with the process thus far.

"I signed a contract for a two-bedroom, two-bathroom apartment at Albero back in August 2021," Kathy revealed.

"The apartments met all my requirements, boasting two bathrooms, a spacious balcony, and delightful views, while still being conveniently located near trains, bus stops, shops, a pool and gym, and restaurants."

When asked about her decision to choose Albero, Kathy explained, "I opted for Albero as I believe it had a good design, with nice finishes, and it just seemed like a quality product."

Initially uncertain about purchasing off the plan, Kathy discovered that once construction commenced, everything fell seamlessly into place.

"I was a bit hesitant to buy off the plan, but once construction started, it was all systems go," she said.

[smartcode_project:default project_id=4722 project_image_fid=192840]

For Kathy, the choice to invest in Albero was primarily motivated by its location and the development's commitment to quality. As a local resident, she desired to downsize within a familiar area and found that Albero offered precisely what she was seeking in terms of design, location, and overall excellence.

Prospective buyers still have the opportunity to acquire one or two-bedroom apartments within the development, with the first residents expected to move in during the upcoming spring season.

The one-bedroom apartments are priced from $470,000, featuring 63 sqm of space, one bathroom, and one car space.

The two-bedroom apartments start at $630,000, spanning from 83 through to 89 sqm, and encompassing two bathrooms and one car space.

&nbsp;

[smartcode_project_cta:default project_id=4722]

The downsizer appeal at Albero, Greensborough

It's the last chance to buy at CitiNova's Albero Greensborough at the lowest price, with increases of between $20,000 to $35,000 per apartment set to come into effect on April 25.

Albero, in the heart of Greensborough, 17 kilometres north-east of Melbourne, has been popular among both owner-occupiers and investors given the rarity of a new apartments in the small nature-filled suburb.

At the moment prices for one-bed apartments start from $460,000, and two-beds from $625,000.

<a href="/news/vic/why-investors-are-looking-for-value-in-greensborough">Read more:&nbsp;Why investors are looking for value in Greensborough</a>

&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=212352]

Citnova engaged&nbsp;InvoDesign, Point Architects and Biasol to design the 45-apartment project, which is set to welcome residents by Spring.&nbsp;

Albero promises to offer contemporary, elevated living in a serene setting, surrounded by breathtaking greenery and sprawling treescapes. The residences have been designed with a keen focus on the finer details and high-quality finishes to provide maximum comfort and functionality to its residents.

Biasol, an interior design firm, was responsible for the interiors of Albero, creating a sense of home within the locality of Greensborough.

&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=192840]

The design of the apartments was guided by the surrounding landscape, rich in Australian natives and character, to provide a sustainable and timeless design.

Each residence at Albero features energy efficient appliances, use of recycled rainwater, and expansive double-glazed windows that allow for an abundance of natural light to flood in and illuminate the interior spaces.

The result is an environmentally friendly and luxurious living space that promises to cater to the needs of modern-day residents.

[smartcode_project_cta:default project_id=4722]

At the moment prices for one-bed apartments start from $460,000, and two-beds from $625,000

Last chance to buy before price increase at Albero Greensborough apartments

Infrastructure and population growth are the two key factors when property investors look at suburbs to invest their money.

Of course there are a number of other drivers, such as rental yield and vacancy rate, but population and its growth forecast somewhat drives those two numbers.

Greensborough, in the City of Banyule in Melbourne's East, falls into a Victorian Government high priority precinct, which is attracting investors to the suburb.

There's expected to be a seven per cent increase in population by 2027 in the City of Banyule, and 12 per cent by 2036. As population grows, housing demand intensifies.

Seeking to take advantage of the forecasted population growth is property developer Citinova, whose Albero apartment development is the only project on the market in the area.

&nbsp;

The 45-apartment development is slated for completion in Spring 2023, and investors are looking at Greensborough's strong vacancy rates, under one per cent in the local area.

Greensborough's median rental price for a two-bedroom apartment is $411, according to SQM Research.

Albero apartments start from $460,000 for the one-bedroom product, and $625,000 for the two-bed apartments.&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=192840]

Given Greensborough is a Victorian Government high priority precinct, there are a number of government-led infrastructure projects, namely increased transport links.

Work is set to begin on Greensborough's new modern station, which will see services run from the new station every seven minutes. The track will be duplicated between&nbsp;Greensborough and Montmorency and between Diamond Creek and Wattle Glen, to allow more trains to run more often.

Victoria's Big Build worked with local&nbsp;Greensborough residents to talk through the design of the station. They wanted a modern station with natural and earthy tones, as well as native vegetation. There will be 130 solar panels and a rainwater tank as part of the new station building to improve sustainability.

While maintaining a leafy suburb-vibe, Greensborough has a robust local economy. Nearly half of the population earn over $1000 a week and are looking for a home close to work, Citinova suggest.

[smartcode_project:default project_id=4722 project_image_fid=192839]

The City of Banyule’s economy has consistently grown over the past decade, from a Gross Regional Product (GRP) of $4.7 billion in 2007 to $5.7 billion in 2017.

Greensborough itself is home to a range of businesses and industries, including healthcare, retail, and hospitality, all of which contribute to a strong and stable local economy.&nbsp;

The area has several shopping centres, including Greensborough Plaza, which is home to over 180 specialty stores and major retailers such as Coles and Target.

It's also home to a number of local cafes and restaurants, parks, and recreational facilities such as the Greensborough Football Club and the Greensborough Tennis Club, making it an attractive location for families.

[smartcode_project_cta:default project_id=4722]

Seeking to take advantage of the forecasted population growth is property developer Citinova, whose Albero apartment development is the only project on the market in the area

Why investors are looking for value in Greensborough

CitiNova has brought together quite a team to deliver their latest residential development.&nbsp;

The Greensborough project, Albero has been designed by InvoDesign, Point Architects and Biasol, delivering a collection of 45 residences, set amongst verdant surroundings in addition to a suit of enviable amenity.

Each of the residences have been conceived to maximise on space, with a focus on the finer details and high-quality finishes.&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=205519]

Biasol handled the interiors of Albero, who encapsulated a sense of home within the locality of Greensborough, with the design of the apartments guided by the surrounding landscape, rich in Australian natives and character.&nbsp;

The modern palette exudes warmth and achieves visual distinction with a focus on balance and serenity. Finer details found in the subtle terracotta or olive-green accents bring a sense of nature into the spaces, weaving the overarching inspiration of Albero in every detail.

Offering a sustainable and timeless design, each residence at Albero features energy efficient appliances, use of recycled rainwater and expansive double-glazed windows that allow for an abundance of natural light to flood in and illuminate the interior spaces.&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=192839]

Generously sized balconies act as an extension of the homes and allow for exceptional indoor-outdoor living, along with dedicated communal spaces specific to the top two levels and an additional shared terrace for all to enjoy.

Designed with functionality in mind, the kitchens feature ample storage making hosting dinners effortless and enjoyable, while expansive balconies offer an al fresco dining experience in each home.&nbsp;

The master suites have been designed as a retreat, with built-in wardrobes, expansive windows allowing an abundance of natural light, as well as generously-sized ensuites.&nbsp;

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The bathrooms incorporate floor-to-ceiling tiles, with buyers able to select between a dark or light colour scheme. Each combines satin nickel or matte black fixtures, along with ample storage and frameless glass, forming an aesthetically pleasing space while still being functional. &nbsp;

The development is currently under construction by DCS Built, with completion slated for Spring 2023.

Buyers also only have a limited amount of time remaining to select the colour finishes in their apartment, with the ability to customise ending on January 23.&nbsp;

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Inside the Albero apartments: How Biasol created a connection to the Greensborough locale

The collaboration of four Australian firms, Citinova, InvoDesign, Point Architects, and Biasol, has brought the latest residential development to Greensborough.

Created as “more than just a home”, but rather a sanctuary, Albero presents a collection of 45 one, two and three-bedroom apartments to the leafy Melbourne suburb.

Citinova have long specialised in the residential development space, while also developing hotels, commercial, and industrial buildings to be a major player in the diversified property space.&nbsp;

&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=205519]

The group has a&nbsp;number of projects in the pipeline, including two commercial office projects planned for&nbsp;Werribee. Citinova has developed the&nbsp;Richmond townhouse project, Glassworks, the masterplanned West Pines, the Brooklyn Interchange,&nbsp;as well as&nbsp;the revitalisation of the Ford Cambellfield employment hub.&nbsp;

“We were inspired to undertake this project because we saw it as the perfect opportunity to create not just a home, but a home that inspires a strong sense of place, embracing all that the location has to offer,” they say about Albero.

“We understand what home is, so we put together a team that genuinely cares about liveability and creating a lasting impression, to of fer homeowners something special that truly embraces its surroundings and the convenience of its location.”

&nbsp;

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Albero has been designed in&nbsp;collaboration between Melbourne locals, Point Architects and Invo Design.

Established in 2000, the Melbourne Architects Point are a multi-disciplined practice, who say Albero was designed with the understanding of residents’ needs, a thoughtful design concept, and a consideration of construction within the Greensborough locale.

“This process allowed us to create a building that sits harmoniously within the surroundings and will stand the test of time,” they said.

Invo Design are a boutique full-service architecture firm, who have designed a number of projects across Melbourne, as well as interstate, including the multi-residential, Parkside Apartments and the masterplanned, Largs North.

&nbsp;

[smartcode_project:default project_id=4722 project_image_fid=192839]

“The intent for Albero was to create a landmark building that still responded to its outer-city urban context and setting,” Invo say. &nbsp;

“Careful consideration was given to the existing streetscape and it’s surroundings to create a unique and tasteful vision as to what the new benchmark in Multi residential design for the municipality should aspire to be.”

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Created as “more than just a home”, but rather a sanctuary, Albero presents a collection of 45 one, two and three-bedroom apartments to the leafy suburb.



The team behind the new Greensborough apartment development, Albero

Construction is underway at the new Greensborough apartment development, Albero, in the leafy suburb north-east of Melbourne.

Albero will comprise 45 contemporary residences developed by Citinova, with the design a collaboration between prominent architecture firm Point Architects and designers InvoDesign and Biasol.

The development, 17 kilometres from Melbourne and set in the growing suburb which blends greenery, amenity and a lively entertainment hub, was designed to connect to its wider surroundings.

[smartcode_project:default project_id=4722 project_image_fid=192840]

“Albero is conceived through a deep understanding of its local context, we wanted to encapsulate a sense of place within the interior design with a strong connection to the abundant parklands of Greensborough and design a life with all the necessities to live simply, in comfort and style,” Biasol said when discussing the vision for the residences.

Comprising a sculpted façade, forming the illusion of a floating exterior, Alberto displays a silhouette form, with bold linework that frames the development amongst the setting. &nbsp;

[smartcode_project:default project_id=4722 project_image_fid=192838]

Soft timber accents and natural finishes have also been incorporated to complement the leafy surrounds and bring a sense of nature to the residences.

With sustainability at the forefront of the design, each residence at Albero features energy efficient appliances, use of recycled rainwater and expansive double-glazed windows that allow for an abundance of natural light to flood the interior spaces.

Green landscaping cascades down the façade, providing a visual connection to the surrounding parklands, while the generously sized balconies act as an extension of the homes, allowing for indoor-outdoor living.

[smartcode_project:default project_id=4722 project_image_fid=192839]

The top two levels of Albero will be dedicated to open communal spaces.

One, two and three-bedroom apartments are available at Albero, which is expected to be completed by mid-2023.

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The development, 17 kilometres from Melbourne and set in the growing suburb which blends greenery, amenity and a lively entertainment hub, was designed to connect to its wider surroundings


Construction commences on Greensborough's Albero apartment development

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A Chinese investor has paid $2.95 million on a tight 4.4 per cent yield for a fully leased property in Melbourne’s Greensborough with development potential, in a deal brokered by Savills. 
The <a href="https://www.realcommercial.com.au/property-retail-vic-greensborough-502077854" target="_blank">86-90 Main Street</a> property comprises three shops on a single level totalling 350 square metres on a 682 square metre site with ten car parks.
The property resides in the Main Street retail precinct and Greensborough Activity Centre redevelopment, and is directly opposite Greensborough Plaza.  
It was sold with a current net rental of $130,240, and at a land rate of $4,325 a square metre.
The selling agents were Nick Peden and Jesse Radisich of Savills.
“This property offered secure income from three longstanding tenants with excellent main street exposure in a fantastic location,” said Peden.
“It is also in the centre of a major retail and commercial precinct in Greensborough’s central activity centre and as such offered excellent potential development upside.’’ 
The Greensborough centre has already seen the completion of a $50 million aquatic centre and several commercial/retail projects, while development plans in the pipeline include approved mixed-use projects in Main Street of up to seven levels. 
Public transport such as Greensborough Railway Station and bus services were within easy distance.
"This was the perfect retail investment and land banking opportunity in one of Melbourne's most active retail hot-spots and the price reflected that,’’ Radisich said.
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