<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Latent Defects Insurance

In the dynamic world of insurance, there is a product that has been quietly making waves across the globe for decades – Latent Defects Insurance (LDI).

Originating in Europe, this innovative insurance coverage has now found its way into the Australian market, promising a brighter future for the construction industry.&nbsp;

Latent Defects Insurance, also known as structural defects insurance or building warranty insurance, provides the most comprehensive protection to property owners, covering them against any hidden defects in construction projects. These defects may not be immediately apparent but could manifest months or even years after the completion of the project, leading to costly repairs and legal disputes.&nbsp;

Read more:&nbsp;<a href="/expert-insights/building/the-advantages-of-first-resort-strict-liability-latent-defects-insurance-for-off-the-plan-property-buyers">The advantages of first resort, strict liability, Latent Defects Insurance for off the plan property buyers</a>

The history of Latent Defects Insurance can be traced back to the mid-20th century when it was first introduced in Europe to address growing concerns surrounding construction defects. As the construction industry evolved and became more complex, the need for comprehensive, structural insurance coverage became increasingly apparent.&nbsp;

Over the years, Latent Defects Insurance gained popularity in countries like the United States, Canada, and the United Kingdom, where it became a standard requirement for large-scale construction projects. The insurance industry recognised the value of this product in mitigating risk and fostering a culture of accountability among construction stakeholders.

Now, Latent Defects Insurance is gaining traction in Australia, with nationwide availability transforming the construction landscape. This development marks a significant milestone for the Australian construction industry, offering newfound security and peace of mind to property owners, investors, developers, and builders alike.

Read more:&nbsp;<a href="https://industry.urban.com.au/updates/how-resilience-ldi-helps-off-the-plan-apartment-developers">How Resilience LDI helps off the plan apartment developers</a>

The introduction of Latent Defects Insurance in Australia is already having a transformative impact on the industry, promoting higher construction standards, reducing disputes, and enhancing overall project quality. With this innovative insurance coverage now widely accessible, the future of construction in Australia looks more promising than ever before.

The evolution of Latent Defects Insurance, from a niche product to a mainstream offering, is a testament to its effectiveness in addressing the complex challenges of the construction industry. As latent defects insurance continues to expand its reach, the future of construction worldwide, and especially in Australia, looks brighter and more secure than ever.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/uV-8Z3O3qH4?si=B-LsOmHGJeBM4JHj" title="YouTube video player" width="560"></iframe>

The pioneering insurance firm, the only insurer who can offer Latent Defects Insurance in Australia, is Resilience Insurance.

Resilience Insurance CEO Corey Nugent says the insurance benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post-completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

To find out more about Resilience Latent Defects Insurance, <a href="/news/resilience-latent-defects-insurance">click here</a>.

Latent Defects Insurance provides the most comprehensive protection to property owners, covering them against any hidden defects in construction projects

The evolution of Latent Defects Insurance worldwide and its nationwide availability in Australia

Having taken over the Central Coast Quarter, Gosford apartment development from St Hilliers, builder-developer&nbsp;Urban Property Group&nbsp;has released the final apartment of the first stage of the project.

<a href="/developers/urban-property-group">Urban Property Group</a>&nbsp;has recommenced construction of The Waterfront, a 25-level tower with 136 apartments. They've poured the concrete up to level 14, and are on track for completion in Q4 2025.

The final release of apartments offer a mix of two and three-bedroom configurations, as well as a handful four-bedroom apartments.

<img alt="The Waterfront at Central Coast Quarter" data-entity-type="file" data-entity-uuid="69a35482-c3b3-48b8-82f0-4e4aff844d5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Waterfront_Living%20room_water%20views.jpg?VersionId=MuvFudeDBdrlIdbJQlA.YUerCI2XWdy9" />

One of the key measures to be implemented by UPG to safeguard buyer interests is the application of <a href="/news/resilience-latent-defects-insurance">10-year Latent Defects Insurance</a> (LDI), supplied through Resilience Insurance, offering additional protection against unforeseen construction defects for 10 years from the date of purchase.

Urban Property Group has retrospectively applied this significant consumer protection for all future and existing buyers of The Waterfront, where originally there was none, and is employing stringent quality assurance measures to ensure timely completion of the construction phases. This proactive approach underscores Urban's reputation as a trustworthy partner for consumers.&nbsp;

Read more:&nbsp;<a href="/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>

Urban Property Group Sales Director, Tom McIvor, says it is pleasing to see such enormous interest in the project on the Central Coast.

"The Waterfront represents the pinnacle of design and lifestyle, and Urban Property Group is proud to be delivering homes that offer contemporary coastal living," McIvor says,.

"Central Coast Quarter’s retail offering will further enhance this experience, providing residents with convenient access to an array of dining options at their doorstep. We are excited to create a vibrant new community in Gosford and &nbsp;The Waterfront offers buyers the opportunity to be among the first to join this new precinct.”&nbsp;

<img alt="The Waterfront at Central Coast Quarter balcony" data-entity-type="file" data-entity-uuid="81a870e0-9e76-4474-9f39-b2c7a099eabf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Waterfront_Balcony.jpg?VersionId=1TnlcyDh5jSwwUKOYvWMqm1TL3GGITIp" />

Designed by&nbsp;<a href="/architects/dko-architecture">DKO</a>, the majority of apartments at 26-30 Mann Street offer unobstructed views of Brisbane Waters, while there's also The Panorma Deck, an exclusive resident rooftop entertaining area.

<a href="/new-apartments/central-coast-quarter-32-mann-street-gosford">Central Coast Quarter</a> is a mixed-use precinct that will deliver around 334 apartments, 2,800 sqm of retail space, and a public domain, including a food and beverage precinct.

Urban Property Group <a href="/news/nsw/urban-property-group-acquires-central-coast-quarter-from-st-hilliers">took over the site</a> from the collapsed developer St Hillers earlier this year.

Central Coast Quarter is a mixed-use precinct that will deliver around 334 apartments, 2,800 sqm of retail space, and a public domain, including a food and beverage precinct

Urban Property Group take out Latent Defects Insurance at Central Coast Quarter apartment precinct

Harvey Norman billionaire Gerry Harvey has recognised the importance of giving new apartment buyers in his Dubbo apartment development as much confidence to invest in a type of property the local area won't be overly familiar with.

Harvey is working on Dubbo's first high-rise, off the plan apartment development in partnership with the local Walkom brothers.

The joint venture partners have taken out Resilience Latent Defects Insurance (LDI), the new policy that protects off the plan apartment buyers from any structural defects of the building for 10 years post-completion.

Some of Sydney’s biggest and most respected developers have embraced the new insurance. The likes of&nbsp;<a href="/developers/deicorp" target="">Deicorp</a>,&nbsp;<a href="/developers/kanebridge">Kanebridge</a>, <a href="/developers/princeton">Princeton</a>,&nbsp;<a href="/developers/abadeen-group">Abadeen</a>,&nbsp;<a href="/news/coronation-property-launches-its-first-release-in-merrylands-development-mason-main" target="">Coronation Property</a>&nbsp;and&nbsp;<a href="/developers/urban-property-group" target="">Urban Property Group</a>&nbsp;have rolled out the insurance across some, if not all of the projects they’re currently undertaking.&nbsp;

Read more: <a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=database_email_mu_20240819_city_nsw&amp;csl=32fbd0cb70aa80ff738af0b1706c4fde0636d15a&amp;iterableEndUserId=32fbd0cb70aa80ff738af0b1706c4fde0636d15a&amp;iterableEmailCampaignId=10796201">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

The new $35 million development, currently under construction and slated for completion in late 2025, will be the tallest building in Dubbo by some way at 15 levels.

<img alt="1 Church Street Dubbo LDI podium" data-entity-type="file" data-entity-uuid="820941d6-8931-464d-bcef-56497ff0e822" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1%20Church%20Street%20podium.png?VersionId=wDJnm6gW8JsipKaR4tBfqrWdhPjJbh1p" />

The project, which comprises 80 apartments, the majority of which are two-bedrooms, is already 70 per cent sold. The remaining apartments are scheduled for release next year.

The apartments, which feature views of the Macquarie River and the surrounding bushland from the upper-level balconies, will sit above commercial and retail spaces and parking for over 100 cars.

<img alt="1 Church Street Dubbo LDI apartments" data-entity-type="file" data-entity-uuid="0e2e620d-b29e-4b1d-97d0-6d4a3291919a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1%20Church%20Street%20apartments.png?VersionId=f0srGMsqhmlVZ2rFNpk73ZsNNqb4wQyT" />

<h2>What is Resilience LDI?</h2>

Resilience LDI is the first Latent Defects Insurance policy in Australia. The insurance provides off-the-plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in.

The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

For more information about Resilience LDI, <a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">click here</a>.

The new $35 million development, currently under construction and slated for completion in late 2025, will be the tallest building in Dubbo by some way at 15 levels

Billionaire Gerry Harvey takes out Resilience Insurance Latent Defects Insurance on new Dubbo apartment development

Resilience Latent Defects Insurance is changing the way people buy off the plan property in Australia.

This insurance, currently only available through Resilience Insurance, provides off the plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in.

The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

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<h2>Boosting Confidence in Off the Plan Apartments</h2>

In this evolving market, developers and project managers have a unique opportunity to enhance buyer confidence and drive sales through LDI. Offering a 10-year warranty on structural components of new apartments, LDI covers issues from leaks to cracks, providing a robust solution that has been a global staple for over seventy years.

<h2>Advantages for Developers and Buyers</h2>

LDI is a game-changer for the off-the-plan market. By incorporating LDI, developers ensure buyers receive comprehensive protection from the moment they take possession. This coverage not only addresses post-completion structural defects but also issues arising during the construction phase. Leading developers like Abadeen, Deicorp, Kanebridge, and Coronation Property have adopted LDI, witnessing increased sales and property value.

[smartcode_project:default project_id=112966 project_image_fid=213736]

<h2>Building Market Confidence</h2>

Corey Nugent, CEO of Resilience Insurance and a pioneer of LDI in Australia, emphasises that LDI enhances the construction process and post-settlement phase. With expert partners involved from the beginning, LDI ensures quality and reliability, alleviating concerns about structural integrity. This proactive approach is crucial in a market where trust in delivery quality is paramount.

[smartcode_project:default project_id=114189 project_image_fid=272865]

<h2>Economic Impact and Market Leadership</h2>

According to a survey by MatterFact, 60% of potential buyers are willing to pay over 1.5% of the apartment price for LDI coverage, making it a cost-effective investment for developers. Projects with LDI have reported a 4-5% price increase compared to those without, highlighting the financial benefits for developers. NSW Building Commissioner David Chandler supports LDI, viewing it as a pivotal reform aligned with the state's commitment to improving construction standards and reducing litigation.

For property developers and project managers, integrating LDI into their offerings is not just about insurance—it's about positioning themselves as industry leaders dedicated to quality and buyer assurance. LDI boosts buyer confidence, enhances project marketability, and contributes to resolving Australia's housing crisis by making off-the-plan purchases more attractive and secure.

<h2>Read more about Resilience Insurance Latent Defects Insurance</h2>

<a href="/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>

<a href="/news/nsw/dcn-group-to-develop-first-bankstown-apartment-development-with-latent-defects-insurance">DCN Group to develop first Bankstown apartment development with Latent Defects Insurance</a> 
&nbsp;

For property developers and project managers, integrating LDI into their offerings is not just about insurance—it's about positioning themselves as industry leaders dedicated to quality and buyer assurance

Michael Bird

Everything an off the plan developer and buyer needs to know about Resilience Latent Defects Insurance

DCN Group has become the first developer in the Bankstown area to take out Resilience Insurance's Latent Defects Insurance (LDI).

Resilience LDI is a new insurance policy that protects off the plan apartment purchasers for 10 years post-completion of the building, accounting for any structural defects that may occur and covering the costs for buyers.

LDI is obtained by either the developer or builder before construction begins since this insurance covers the entire project lifecycle. It involves a thorough review of plans, specifications, and other documents, along with monthly inspections by independent technical inspectors, extending up to the certification of Practical Completion.

<a href="/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>

DCN has taken the cover out on their new Bankstown project, The Hoskins, two buildings on Marshall Street with 44 apartments.&nbsp;

DCN Group Managing Director Nadim Saad said getting LDI was a step forward to leading the way.

"As builder-developer company since 1987, we've always stood by our product, and we know what we build is of a high standard. what having LDI does is it tells prospective buyers we are backing ourselves that our product is of high quality and that we're not going to cut and run when the project is finished."

LDI is only offered to developers and builders deemed trustworthy by the insurer, Resilience Insurance. To receive the insurance, the development must pass rigorous and regular assessments by independent technical inspectors SDSS to ensure the quality of the construction is upheld.

DCN was the second developer in Sydney to take out LDI, shortly after Urban Property Group.

"It's a great leap for the industry," Nadim says, with the insurance coming off the back of more accountability that has come in the off the plan development market from the Building Commissioner.&nbsp;

Saad says buyers are starting to become more educated on the off the plan apartment market.

While not yet in market, a prospective purchaser stopped at the site of The Hoskins, at 78-80 Marshall Street, and asked if they were iCIRT-rated and if they had LDI.

"It's not just about buying an apartment off the plan and hoping it gets built to the standard that you're promised. Now there are safeguards in place so that shouldn't happen, and buyers are now&nbsp;starting to understand what developers should have in place to protect their investment."

DCN Group has partnered up with construction consultants and SDSS to oversee the construction process.&nbsp;

<h2>What is Resilience LDI?</h2>

Resilience LDI is the first Latent Defects Insurance policy in Australia. The insurance provides off the plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in.

The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

For more information about Resilience LDI, <a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">click here</a>.

DCN Constructions Managing Director Nadim Saad said getting LDI was a "no brainer."

DCN Group to develop first Bankstown apartment development with Latent Defects Insurance

Latent Defects Insurance (LDI), is changing the game for off the plan apartment buyers in Australia.

This insurance product provides off-the-plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in. The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

Some of Sydney’s biggest and most respected developers have embraced the new insurance. The likes of Deicorp, Kanebridge, <a href="/developers/abadeen-group">Abadeen</a>, Coronation Property and Urban Property Group have rolled out the insurance across some, if not all of the projects they’re currently undertaking.&nbsp;

Sydney-based Resilience Insurance, the first insurer to launch LDI in Australia, is now taking the product national, and is having conversations with developers in Melbourne, Brisbane, the Gold Coast and Perth.&nbsp;

<h2>How does Latent Defects Insurance work?</h2>

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

[smartcode_project:default project_id=7106 project_image_fid=239175]

While giving confidence to the consumer at the end of the build, Resilience LDI is actually in place throughout the build process. Rather than it solely being used as a rectification product, the insurance kicks in to fix issues when they arise, rather than down the track following completion. Of course the insurance protects owners at that stage too, however the ideal scenario is any problems that come up during the building get fixed well before settlement.

Resilience has a string of expert partners who are onsite even before construction has started to ensure even the ground the development is being built on is structurally sound.

<h2>What does LDI mean for off the plan apartment buyers?</h2>

A survey undertaken by MatterFact, Apartments.com.au’s data product, shows the biggest thing holding back prospective purchasers from buying an off the plan apartment is the trust and faith they have in the developer, followed closely by the concern the build won’t be of good quality. It was a common consensus on the survey conducted from state to state, where delivery was much more of an issue raised compared to budgets, approvals or price of the apartment.

[smartcode_project:default project_id=112966 project_image_fid=213736]

“LDI is about to change the game in the off the plan apartment market,” Apartments.com.au CEO Mike Bird says, adding that the insurance will be a huge boost to helping solve Australia’s housing crisis.

“With the large imbalance of supply and demand in Australia, there has to be a move to off the plan apartments, but to get there, consumers need to be more confident in delivery.

“Unfortunately the industry has been tarnished by a small number of developers who haven’t acted on behalf of the consumer in the last five years or so. Developers who have Resilience LDI are telling consumers that they’re in a partnership with them, and they will deliver the quality that they promised. If they don’t, then the insurance protects the purchaser, without all the trials and tribulations of litigations and long, drawn out court cases which often cost thousands of dollars as well as significant upheaval whether it be mental or physical.

<h2>How does Latent Defects Insurance impact the developer?</h2>

Data collected by MatterFact also showed 60 per cent of off the plan apartment seekers would pay over 1.5 per cent of the apartment price for it to have LDI cover, which typically outweighs how much it costs a developer to purchase Resilience LDI.&nbsp;

Nugent says there have been instances already where developers have reported prices with a four to five per cent increase due to them having LDI, compared to similar projects in the same area.

[smartcode_project:default project_id=134951 project_image_fid=223715]

While there’s been a handful of progressive new tools to try and build confidence in the off the plan industry, such as the iCIRT-rating system and KMPG’s Building Trustworthy Indicator, no one has gone as far as Resilience LDI in terms of actual protection for an off the plan apartment buyer.

NSW Building Commissioner David Chandler recently lauded the introduction of LDI, suggesting it will improve the design and construction of apartment buildings in NSW.

“These reforms have come about due to the united commitment of government and industry to transform the NSW construction sector,” Chandler said.

“NSW is now in the position of being a national leader in offering an insurance product of this type for Class 2 buildings because of the three years of conscious effort and commitment by Government and industry to the journey we have been on under Construct NSW.

“We’re looking to clean up the market and bring an end to expensive litigation against developers who have deep pockets or subsequently vanish into thin air.”

To find out more about Resilience LDI, <a href="https://resilienceinsurance.com.au/">click here</a>.

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer

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