Developer <a href="https://www.apartments.com.au/developers/equicentia">Equicentia</a>, together with joint venture partners Wingala Capital and Monark Property Partners, has become the first in Manly to secure Resilience Insurance’s Latent Defects Insurance.

The trio has recently launched <a href="https://www.apartments.com.au/new-apartments/de-ville-manly-11-victoria-parade-manly-nsw-2095">De Ville</a>, a new luxury project on a long-dormant yet prime site at 9–11 Victoria Parade, positioned between East Esplanade and South Steyne.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="b2639bb1-d72c-4f28-b4dc-33190655e147" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-12%20at%209.38.37%E2%80%AFAM.png?VersionId=orUAk2m2tTKAAasLvZg0IaGQyDaZcKYI" />

The site was originally earmarked for a 26-apartment scheme, but following its $25 million acquisition of the near-1,200 sqm parcel, the development team opted for a more refined approach, reducing the yield to just 12 two- and three-bedroom residences across a six-level building.

Among them will be three full-floor penthouses boasting panoramic views across Manly Beach, North Harbour, and the city skyline. The apartments will sit above four ground-floor retail and commercial tenancies, designed to help activate Victoria Parade, an area long defined by its beachside character and interwar brick architecture.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="d6922f4a-21fb-4a07-8e40-241d594c2538" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int3.jpg?VersionId=7U1Qw79_YT3bOZKr7.H03JHOFm3QVYlE" />

Designed by <a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a>, De Ville’s sculpted form takes cues from the ebb and flow of Manly’s dual waterfronts, the ocean to one side and the harbour to the other.&nbsp;

The architecture’s soft curvature and rhythmic vertical brickwork reflect the natural patterns of the tide, while a refined palette of Lohas brick, sandy render and glass detailing allows the building to harmonise with its coastal context.&nbsp; Cascading greenery and deep balconies bring texture and shadow to the facade, reinforcing the building’s connection to nature and the street.

Buyers have a choice of two different colour palettes, Taj Mahal and Brescia Green, each layering soft tones and organic finishes to capture the coastal light.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="be78b114-88ed-4d33-a4ef-50e14d2f9064" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int6a.jpg?VersionId=hBrZPvs1L2LwThSatcNMXTg0tltfEn4a" />

De Ville is the first development in Manly to fully protect its buyers with 10-year Latent Defects Insurance offered by Resilience Insurance.

The policy covers buyers for 10-years post-completion of the building, a first-resort cover again&nbsp;major structural or waterproofing defects.&nbsp;

Unlike traditional statutory warranties, which often require complex and lengthy claims processes, LDI ensures that if a covered defect arises, the insurer responds immediately - without the need to prove fault or pursue the builder or developer.

This new model of protection has been gaining traction among forward-thinking developers and financiers alike. For buyers, it offers tangible assurance of quality and accountability; for lenders and insurers, it reflects a measurable reduction in long-term risk.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

[smartcode_project_cta:default project_id=151559]

Joel Robinson

Equicentia launches Manly's first new development with 10-year Latent Defects Insurance

The redevelopment of Double Bay's&nbsp;InterContinental Hotel has cleared its final hurdle, with the&nbsp;NSW Government’s Sydney Eastern City Planning Panel giving the $1 billion redevelopment the green light.

Sydney developers Eduard Litver of <a href="https://www.apartments.com.au/developers/capitel-group">Capitel Group</a> and Allen Linz of <a href="https://www.apartments.com.au/developers/rebel-property-group">Rebel Property Group</a>&nbsp;lead the consortium behind the project that will create a new&nbsp;mixed-use lifestyle destination on Cross Street, in the heart of the rapidly revitalising Double Bay village.

Lodged in November 2024, the DA was approved in under 12 months, marking a major milestone for one of Sydney’s most significant and historically rich village precincts.

The approval enables the demolition of the existing six-storey hotel and the construction of a new eight-storey <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>-designed landmark building featuring high-end retail and dining, boutique accommodation, commercial offices, a wellness centre, a limited collection of luxury residences along with public domain improvements.

<img alt="33 Cross Street, Double Bay" data-entity-type="file" data-entity-uuid="3b0ca753-2941-4e77-a6ac-5701087ac4e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/courtyard_intercontinental_double_bay_3D_render_by_VV.jpg?VersionId=18DBOpXgtpob.oZfYSeLgjSCQEgmaCpg" />

Rebel Property Group Managing Director Allen Linz said the approval was the culmination of a collaborative and constructive planning process.

“We welcome Woollahra Municipal Council’s decision and thank them for its constructive and professional approach,” Linz said.

“This approval marks a major milestone for Double Bay and reflects a shared commitment to see the village continue to evolve. We look forward to contributing something that will enrich the community and strengthen its appeal as Sydney’s premier harbourside destination.”

Capitel Group Managing Director Eduard Litver said the project would make a lasting contribution to Double Bay’s future.

“This site has long been part of Double Bay’s identity, and this approval allows it to play an even greater role in the community’s future,” Litver said.

“The project will deliver new retail and hospitality spaces that support local life and business, contributing to the ongoing vitality of the village.”

Having led the project team on behalf of the owner consortium throughout the planning and approval process, Metis Group Director Arian Galanis said the focus now turns to delivery.

“With the project now green lighted, our focus turns to delivery,” Galanis said.

“We’re working closely with the design and consultant teams to bring the vision for 33 Cross Street to life. We’re excited to deliver a project of enduring quality that will stand as a benchmark for mixed-use, lifestyle-led development in Sydney.”

$1 billion InterContinental Hotel, Double Bay, approved for mixed-use redevelopment

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a> has reached significant construction milestones at two of its landmark Melbourne residential communities, &nbsp;with topping-out ceremonies held at The Albertine, on the fringe of the CBD, and Prince &amp; Parade in Brunswick, &nbsp;marking the completion of the top floors of each apartment building.&nbsp;

Together, the two communities will deliver 265 new apartments, providing a vital boost to housing supply at a time &nbsp;when construction of new homes remains challenging.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> and <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> are part of Mirvac’s $7.4 billion Victorian development pipeline, which includes &nbsp;both residential and commercial mixed-use projects, such as Trielle at Yarra’s Edge, scheduled to top out in early &nbsp;2026.&nbsp;

[smartcode_project:default project_id=138659 project_image_fid=294831]

Mirvac’s CEO, Development – Residential and Commercial Mixed Use, Stuart Penklis, said the milestones reflect the strong momentum of Mirvac’s Victorian projects and the continued demand for premium residences in sought after inner-city locations.&nbsp;

“We are proud to be delivering The Albertine and Prince &amp; Parade, two projects that embody Mirvac’s design excellence, commitment to quality, and focus on creating homes that connect people to their communities. With &nbsp;cranes rising high across Melbourne, Mirvac’s residential pipeline is moving strongly, and these milestones are a &nbsp;testament to that momentum,” Penklis said. &nbsp;

“We have recently opened our third build to rent community in Melbourne, LIV Albert at Brunswick, our fifth &nbsp;nationally, which together with our master-planned communities ensures that we are providing a full spectrum of &nbsp;housing options to Victorians."

[smartcode_project:default project_id=138659 project_image_fid=294826]

<a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> offers one- to four-bedroom residences across 14 storeys, complemented by exclusive resident-only &nbsp;amenity. This includes The Circadian Club, a wellness centre featuring an indoor pool and spa, gym, yoga and &nbsp;Pilates studio and sauna, and The Elysian Room, a private dining space on level 10 with sweeping views across &nbsp;Melbourne.&nbsp;

Since construction began in August last year, up to 240 workers have been on site daily, pouring 7,000 cubic metres &nbsp;of concrete across 72 pours and installing over 1,000 tonnes of steel reinforcement to bring the building to this &nbsp;landmark moment.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> marks Mirvac’s third collaboration with acclaimed design practice <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>, following the &nbsp;award-winning The Melburnian (2002) and The Eastbourne (2019). Offering a mix of one- to four-bedroom &nbsp;residences, the community will feature a residential lounge, shared dining room and kitchen, a courtyard designed &nbsp;by Jack Merlo, library, yoga room, gym, shared rooftop terrace, and concierge service.&nbsp;

[smartcode_project:default project_id=4802 project_image_fid=217137]

Construction at the site is rapidly transforming the skyline, with significant milestones already achieved. Two &nbsp;buildings are now taking shape, supported by 73 slab pours and six fully constructed building cores.&nbsp;

Mirvac’s General Manager, Residential Development Victoria, Elysa Anderson said both projects remain on track, &nbsp;with completion expected in 2026.&nbsp;

“These communities have been well received, attracting strong interest from downsizers and professionals who &nbsp;value high-quality design, premium locations and the confidence of buying with Mirvac,” Anderson said. &nbsp;

Prince &amp; Parade has also achieved a record-breaking apartment sale in Brunswick, further underscoring the &nbsp;strength of the project.&nbsp;

“We’re incredibly proud to see Prince &amp; Parade set a new benchmark for Brunswick. This record-breaking sale is a &nbsp;testament to Mirvac’s design excellence, quality craftsmanship, and our strong reputation for delivering high quality residential communities across the country."

Mirvac celebrates dual topping out milestones in Melbourne

Developer <a href="https://www.apartments.com.au/developers/shenfield-property">Shenfield Property</a> will commence construction this summer on Banksia, its boutique apartment project in the heart of Cheltenham Village.

Designed by <a href="https://www.apartments.com.au/architects/roger-brayshaw-architects">Brayshaw Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/aldona-padjak-interior-design-apid">Aldona Padjak Interior Design</a>, the mixed-use development comprises just 29 one-, two-, and three-bedroom residences positioned above ground-floor retail and dining spaces.

[smartcode_project:default project_id=5518 project_image_fid=229827]

<a href="https://www.apartments.com.au/new-apartments/banksia-cheltenham-216-226-charman-road-cheltenham-vic-3192">Banksia</a> has been tailored to the Bayside market, with flexible floorplans and a focus on environmentally efficient design. Apartments will feature full-height glazing, soft neutral palettes, and oak timber flooring, while kitchens are appointed with black Smeg appliances, stone finishes, and streamlined joinery.

Energy-efficient systems, integrated heating and cooling, and basement car charging facilities ensure sustainability is embedded in the project.

“Our vision with Banksia is to deliver residences that balance refined style and long-term liveability, while respecting the character of <a href="https://www.apartments.com.au/developments/cheltenham-vic-3192">Cheltenham</a> Village,” a Shenfield spokesperson said.

[smartcode_project:default project_id=5518 project_image_fid=334174]

The project’s location on the beach side of Charman Road places residents within minutes of Southland Shopping Centre and Cheltenham Station, while the beaches of Mentone, Sandringham and Black Rock are all within a 10-minute drive.

Pricing ranges from $580,000 to $1.325 million. Construction is slated to complete in early 2027.

Shenfield has been a trusted developer for several decades in Melbourne's Bayside. They recently completed <a href="https://www.apartments.com.au/buildings/joes-quarter-mordialloc-557-main-street-mordialloc">Joe's Quarter in Mordialloc</a> and <a href="https://www.apartments.com.au/buildings/omnia-4-6-horscroft-place-moorabbin">Omnia in Moorabbin</a>.

[smartcode_project_cta:default project_id=5518]

Urban Editorial

Shenfield to commence construction on Banksia, Cheltenham this summer

As the finishing touches take shape at Delano, <a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong Developments</a> is preparing to welcome its first residents before the end of the year.&nbsp;

Set just 450 metres from the newly opened Crows Nest Metro Station, this elegant low-rise development is poised to offer a lifestyle of both connectivity and character, perfectly timed for those hoping to settle into a new home by Christmas.

Located at 33 Falcon Street, <a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a> comprises 81 residences across three boutique buildings, including a collection of townhomes and one, two, and three-bedroom apartments.&nbsp;

[smartcode_project:default project_id=134072 project_image_fid=3334]

Designed by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, the project takes inspiration from the Art Deco influences that define the area, interpreted through a contemporary lens and framed by lush gardens.

“Our vision was to fashion a landmark that creates a transition between cosmopolitan Crows Nest village and the adjoining heritage conservation zone,” said Peter Campbell, Managing Director of Lindsay Bennelong.&nbsp;

“We worked closely with the community throughout the planning process to ensure the design respected and enhanced the neighbourhood's character.”

[smartcode_project:default project_id=134072 project_image_fid=3337]

The architectural response is careful and measured. The central five-storey apartment building steps down to three storeys along Falcon Street, while the townhouses along Hayberry Lane mirror the surrounding residential scale.&nbsp;

Inside, residences are finished with herringbone engineered timber floors,&nbsp;100% wool loop pile&nbsp;carpet, and natural stone benchtops paired with Miele appliances.

Designed for light, air, and longevity, all homes feature cross-ventilation and energy-efficient fittings. The communal areas also integrate sustainability principles, including site-wide water harvesting and natural ventilation in lobbies and corridors.

[smartcode_project:default project_id=134072 project_image_fid=3331]

Beyond the front door, residents will enjoy a gymnasium, shared electric vehicle, and an expansive communal lawn with barbecue and seating areas.&nbsp;

Leafy views toward Mosman and North Sydney elevate the upper-level residences, while street-level walkability to shops, cafés, and supermarkets reinforces Delano’s village-like convenience.

“Our focus has always been on securing premium sites, so we were excited by the opportunity to reimagine this significant location,” said Campbell. “With the new Crows Nest Metro Station now operational, this sought-after locale is firmly in the spotlight."&nbsp;

“I’m confident that we have collaboratively achieved a place to live poised to become an important part of Crows Nest's rich and diverse architectural fabric.”

[smartcode_project_cta:default project_id=134072]

Move in before Christmas: Delano brings boutique living to the heart of Crows Nest

Inquiry

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The Senate committee looking into flammable cladding in buildings in the aftermath of London’s Grenfell Tower tragedy has recommended a ban on the importation, sale and use of the aluminium panels.
However, Coalition members on the Labor-dominated committee, said a ban would not solve the problem though they acknowledged the safety concerns of using aluminium claddings.
Recently, ABC’s Four Corners highlighted the issue, saying thousands of buildings across Australia use flammable cladding, which led to the London tower tragedy that claimed more than 80 lives.
“The committee recommends the Australian government implement a total ban on the importation, sale and use of Polyethylene core aluminium composite panels as a matter of urgency,” said the recommendation in the <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Non-conforming45th/Interim_report_cladding" target="_blank">Senate panel’s report</a>.
“In light of the Grenfell Tower fire tragedy, the committee does not consider there to be any legitimate use of PE core ACPs on any building type. The committee believes that as there are safe non-flammable and fire retardant alternatives available there is no place for PE core ACPs in the Australian market,” it added. 
The report referred to the Lacrosse building fire in Melbourne in 2014 as well.
The panel was chaired by Labor Senator Chris Ketter, was critical of lax regulation.
Another member, Labor's Kim Carr, said "The questions of public safety are really fundamental.”
"We've had too many fires already in this country. We have too many buildings that are using this product,” ABC News reported him as saying.
Earlier, Labor had issued a media release saying the Senate Economic References Committee had recommended that the Turnbull Government, as a matter of urgency:
<ul>
<li>Implements a total ban on the importation, sale and use of polyethylene core aluminium composite panels.</li>
<li>Works to implement a national licencing scheme for all building practitioners.</li>
<li>Imposes a penalties regime for non-compliance with the National Construction Code, including revoking accreditation, banning from tendering in Commonwealth contracts and financial penalties.</li>
<li>Adequately resources the Federal Safety Commissioner ensuring that it is able to carry out its duties with new audit functions and projected work flows.</li>
<li>Works to establish a nationally consistent statutory duty of care for end users in the residential strata sector.</li>
<li>Brings more representatives of the supply chain into the working of the Building Minister’s Forum.</li>
<li>Considers making all Australian Standards and codes freely available to the construction industry. </li>
</ul>
However, Coalition senators on the committee issued a dissenting report saying they acknowledged the concerns about the use of combustible cladding in buildings but a ban was not the answer.
They pointed to the wide use of polyethylene core aluminium composite products in the signage industry and said banning an individual product would not solve the problem.
The Coalition senators said consideration should be given to improving the identification of the materials and ensuring they are suitable for use.
A preliminary audit in NSW has identified 1,011 buildings that require investigation. The number across Australia would go into thousands.
Leading strata management body, Strata Community Australia, says tens of thousands of apartment owners Australia wide are unfairly facing the prospect of a multi-million dollar bill to fix buildings impacted by flammable cladding.
A preliminary audit in NSW has identified 1,011 buildings that require investigation. The number across Australia would go into thousands.
Leading strata management body, Strata Community Australia, says tens of thousands of apartment owners Australia wide are unfairly facing the prospect of a multi-million dollar bill to fix buildings impacted by flammable cladding.
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jonathanchancellor-7SQnKwU6yx

Senate panel wants total ban on combustible cladding in buildings 

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On Thursday, 26 June, a parliamentary inquiry into housing affordability in Australia began.
In spite of a lack of housing supply in Sydney and Melbourne to keep up with demand, rental yield return for investors is going down. There is a very simple explanation for this and yet it is something the Treasury officials struggled to account for last Thursday.
Onthehouse.com.au has data on rental yields for Sydney houses and units for over 25 years – which are plotted in Graph 1. Graph 2 plots the same data category for Melbourne. Both graphs display rental yields are falling over time.
<a href="/images/2015/07/24/G1_Rental_Yields_Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/G1_Rental_Yields_Sydney.jpg" alt="">
 
<a href="/images/2015/07/24/G2_Rental_Yields_Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/G2_Rental_Yields_Melbourne.jpg" alt=""> 
I believe it is important to clarify why rental yields are falling, so as not to be convinced that it is somehow getting cheaper to rent in Sydney and Melbourne, because it is not.
The explanation is simple: ‘rental yields’ refer to the rental income received on a property as a percentage of what a house is worth.
As a primary school student will tell you – a fraction or percentage becomes smaller if you take the same amount of something from a larger total.
If I take a 10 cm2 area of cake from a 100 cm2 squared cake, I have taken 10% of the cake. To make myself seem less fat, I tell everyone the cake was 200cm2. Suddenly, my piece becomes just 5% of the cake, even though I have still consumed a 10cm2 area of cake. Genius. 
Rents in Sydney and Melbourne are rising. In fact, rent for the median house in Sydney rose 9.54% in the year to May, which is well above the 25 year average of 4.75%. However, the value ofhouses are rising even more rapidly. This means rental yields (measured as a portion of what the house is worth) are technically falling, but the real dollar amount that landlords are receiving in rent is generally going up. 
To get an idea of how real dollar values in rents are moving compared to house values, Graph 3 presents the increase in the index over time in values and rent in Sydney houses and units from 1990.
<a href="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.12.02%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.12.02%20AM.png" alt="" width="795" height="604">
An index of 5.36 in Sydney houses, for example, means houses are now 5.36 times what they were worth in 1990, which is the basis data point I’ve used. Graph 4 does the same for Melbourne.
<a href="/images/2015/07/24/graph4.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/graph4.jpg" alt="">
It is clear from Graphs 3 and 4 that both dwelling values and rents are moving at a higher-than-average rate. This can be seen from the slope of the Index series.  The important thing to remember about rents is that there is a lag in response to changes in the value of living in Sydney and Melbourne. This is because rents are negotiated (usually) over 6 to 12 month periods, whereas the value of houses and units change almost daily.
According to Onthehouse.com.au, the median rent for a house in Sydney is now $670 per week. While there is not a clear, consistent up-to-date measure of the median household income in Sydney from the ABS, the indexed figure from 2011 indicates that the median Sydney household income is around $1,123. This means that renting the median home in Sydney is over 50% of the median household income. Those below median earnings will struggle further with rents in Sydney.
Thinking about rental incomes in terms of rental yields is important for investors. It is an indication of how much income you could receive to cover things like mortgage repayments and property expenses. However, it is not a term which belongs in a conversation about housing affordability. Unfortunately, the Treasury does not seem to understand what rental yields are, let alone how to use them.
Eliza Owen is the market analyst for Onthehouse.com.au. She can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/eliza-owen/65/4ab/255" target="_blank">here.</a>
</body></html>

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