<p>A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.</p>

<p>The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" /></p>

<p>The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.</p>

<p>According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.</p>

<p>Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.</p>

<p>"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" /></p>

<p>The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.</p>

<p>Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" /></p>

<p>Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.</p>

<p>Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.</p>

<p>They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.</p>


Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

<p>Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.</p>

<p>In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.</p>

<p>The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.</p>

<p>The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments</p>

<p>The site currently comprises three commercial properties.</p>

<p><img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" /></p>

<p>The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.</p>

<p>The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.</p>

<p><img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" /></p>

<p>A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.</p>

<p>Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.</p>

<p>Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.</p>


First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<p><a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.</p>

<p>The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.</p>

<p>[smartcode_project:default project_id=134974 project_image_fid=5427]</p>

<p>The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.</p>

<p>Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.</p>

<p>[smartcode_project:default project_id=134974 project_image_fid=5421]</p>

<p>The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.</p>

<p>Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.</p>

<p>With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.</p>

<p>[smartcode_project_cta:default project_id=134974]</p>


Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

<p>A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.</p>

<p><a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.</p>

<p>Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363778]</p>

<p>The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.</p>

<p>Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.</p>

<p>Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.</p>

<p>The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363782]</p>

<p>Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.</p>

<p>Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.</p>

<p>[smartcode_project_cta:default project_id=152125]</p>


Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<p><a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.</p>

<p>Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.</p>

<p>Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.</p>

<p>Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.</p>

<p>"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.</p>

<p>"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370898]</p>

<p>For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.</p>

<p>Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;</p>

<p>All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.</p>

<p>Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.</p>

<p>"It's a place to choose your pace and live gracefully, seaside'," Sander says.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370900]</p>

<p>The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;</p>

<p>Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.</p>

<p>"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;</p>

<p>"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370897]</p>

<p>Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;</p>

<p>Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.</p>

<p>The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;</p>

<p>"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;</p>

<p>Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370899]</p>

<p>Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.</p>

<p>Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.</p>

<p>[smartcode_project_cta:default project_id=150499]</p>


Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Mcgrath

<p>With substantial forecasted population growth, and the North West Metro, Castle Hill is becoming a sought-after suburb. Offering genuine value compared to more established apartment markets like Chatswood, St Leonards and Macquarie Park, it is attracting first home buyers, investors, downsizers and upsizers. Due to complete Spring 2024, Grand Reve has been billed as the most prestigious development ever offered in the Hills District.</p>

<p>Hear from Sydney local Gerry, who recently purchased his new home at Kassis Homes' Grand Reve as well as Josephine, who recently purchased two new properties at Kassis Homes' Grand Reve.</p>

<p>&lt;iframe width="560" height="315" src="https://www.youtube.com/embed/b2-cVGxhNtQ?si=GiknCU48EDLJIcz6" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen&gt;&lt;/iframe&gt;</p>

<p>[smartcode_project_cta:default project_id=94147]</p>

<p>*Dasco has been rated 4.5 gold stars in the NSW Government's Rating System, iCIRT, which helps prospective buyers more easily identify building professionals who have a proven track record, supported by objective evidence of their past capability to deliver buildings you can trust. The more stars, the more confidence your construction industry professional is likely to deliver a reliable outcome.</p>

<p>&lt;iframe width="560" height="315" src="https://www.youtube.com/embed/VXyo-f3_kEQ?si=TIyi2dsofYbqGT8I" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen&gt;&lt;/iframe&gt;</p>

<p>[smartcode_project_cta:default project_id=94147]</p>

<p>[smartcode_project:default project_id=94147 project_image_fid=203070]</p>

<p>[smartcode_project:default project_id=94147 project_image_fid=203069]</p>

<p>&nbsp;</p>


Hear from Sydney local Gerry, who recently purchased his new home at Kassis Homes' Grand Reve as well as Josephine, who recently purchased two new properties at Kassis Homes' Grand Reve.


Olivia Round

Grand Reve Recent Purchaser Testimonials from Josephine & Gerry

<p>It's not often an off the plan buying opportunity comes up in Marrickville, Sydney's popular inner west suburb.</p>

<p>Following their success of Kindred apartments nearby, Astute Property Developments are soon to launch their latest development in the area which has become popular for its breweries and eclectic dining scene.</p>

<p>The new project, Mosaic, will see 43 apartments created on Illawarra Road, the heart of Marrickville. The name Mosaic pays homage to the mosaic artworks dotted around Marrickville, as well as the diverse mix of architectural styles and its buzzing music and foodie scene.</p>

<p>Astute Property, led by managing director Fady Rizk, are developing and building the eight-level project, which is coming up for sale through McGrath Projects.</p>

<p><img alt="The view from Mosaic Marrickville" data-entity-type="file" data-entity-uuid="737630ed-c359-477d-963c-348dd039de66" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-08-23%20at%206.52.59%20am.png?VersionId=QEAX7Q3vdlSe3ez91kkt1Ft5UXCNDuTh" /></p>

<p>“We spent the last 12 months modifying the existing DA, focusing on reducing the number of apartments to increase study and living space and accommodating people who continue to work from home,“ Rizk says.</p>

<p>“This site is a rare find in Marrickville and we’re excited to transform a previously derelict building and revamp the strip that is fast establishing itself as the ‘eat street’ of Marrickville.”</p>

<p>The project includes a mix of one, two and three-bedroom apartments with prices starting from $820,000 for a one-bedroom apartment which range in size from 50 to 55 sqm internally, with a further 12 to 25 sqm of internal space.</p>

<p><img alt="The communal area at Mosaic in Marrickville" data-entity-type="file" data-entity-uuid="64b3ef42-10b1-44bc-8571-350df763d304" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-08-23%20at%206.53.42%20am.png?VersionId=pCmkzvXX.K_PiCV5nf7x9fl4Tv50JaPu" /></p>

<p>The two-bedders will start from $1,195,000, and range in size from 75 to 89 sqm internal and a further 10 to 40 sqm external.</p>

<p>The largest apartments, with three bedrooms, have 100 sqm of internal space and 15 to 20 sqm external.</p>

<p>Colin Griffin, Associate Director for McGrath Projects, says the team has created a unique premium offering for Marrickville which he believes will appeal to both investors and owner occupiers.</p>

<p>“‘Mosaic’ provides a great opportunity for investors to secure a premium product, at a desirable price point, that is in limited supply in Marrickville," Griffin says.</p>

<p>"Tenants are looking for quality properties in an area that has all the elements you want in a desirable lifestyle close to transport, schools and parks, plus – great dining options, cafes even live music and are happy pay a premium for all this at their doorstep. As a result, Investors are always looking to purchase where tenants want to be.</p>

<p>“We also expect strong interest from young families and young professionals who understand the vibe of Marrickville, looking to upgrade their home and live in an area that they already love.”</p>

<p>Benson McCormack Architects and interior design studio Axlund &amp; Goldstein Interiors have collaborated on the project, which includes 200 sqm of private residential space on level four which will feature a communal garden.</p>

<p><img alt="The new Mosaic development in Marrickville" data-entity-type="file" data-entity-uuid="de989fd7-f7c3-46c0-9831-9cd300dd44f9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-08-23%20at%206.52.54%20am.png?VersionId=ZGiSsVr.eWxf.TvHCjisnKTSWggjKLMq" /></p>

<p>“The open space with communal intimate zones enables a number of groups to use the area and enjoy the city views, with a little sense of privacy,” Rizk added.</p>

<p><strong>Fast Facts</strong></p>

<p>Mosaic is expected to be completed at the end of 2023.</p>

<p>Product mix: 16 x 1 bedroom; 25 x 2 bedroom; 2 x 3 bedroom apartments.</p>

<p>4 x Ground Floor retail tenancies totalling 410m2.</p>

<p>One-bedroom apartments range in size from 50-55 sqm internal and 12-25 sqm external and are priced from $820,000 to $940,000.</p>

<p>Two-bedroom apartments range in size from 75-89 sqm internal and 10-40 sqm external and are priced from $1,195,000 to $1,495,000.</p>

<p>Three-bedroom apartments range are each approximately 100sqm internal with 15-20 sqm external and are priced at approximately $1,800,000.</p>


Astute Property, led by managing director Fady Rizk, are developing and building the eight-level project, which is coming up for sale through McGrath Projects

Marrickville set for rare new apartment development

<p>While house values have rocketed over 2021, apartment values have too quietly shown steady growth over the year to date.</p>

<p>And as house prices continue to escalate and become affordable for many, apartments are becoming a much more attractive, and necessary, proposition, with further growth forecast when international borders open and investors come back in to the market.</p>

<p>Urban recently caught up with John McGrath, who founded McGrath back in 1988, to discuss how the apartment market went in 2021, and how it is shaping up for the next few years.</p>

<p><strong>JC: How have you viewed the performance of the apartment market (established and or off the pl​an) in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023?</strong></p>

<p><strong>JM</strong>: There’s no doubt that apartments, other than luxury, have missed much of the price surge that established houses have enjoyed. &nbsp;In many locations we’ve seen houses prices escalate by 35-40% and&nbsp;in those same areas we’ve seen a more modest 5-10% rise in apartment values.</p>

<p>There are a few reasons for this. Firstly, apartments have a larger investment buyer profile &amp; the strongest demand has been from owner occupiers. Also a large percentage of apartments that are not bought by investors sell to first home buyers who generally don’t have the same buying power or discretionary spending that is appearing higher up the price chain.</p>

<p>And finally, in many of the big cities apartments have been hit hard by the closure of international borders &amp; less inflow of migrants &amp; students which have increased vacancy &amp; reduced rental returns momentarily. But I think if anything this makes apartment buying represent better growth in many parts of the country as houses become less affordable and&nbsp;overseas borders open up in 2022.</p>

<p>[smartcode_project:default project_id=94147 project_image_fid=152849]</p>

<p><strong>JC: What trend (short term or long term) has prompted your greatest enthusiasm for the apartment market, and what is the issue of most concern to you and or your clients?</strong></p>

<p><strong>JM</strong>: In general apartment living has replaced the traditional quarter acre aspiration for many Australians due primarily to housing affordability for younger buyers and&nbsp;also an ongoing desire to live in urban, inner city and&nbsp;beachside locations. And whilst COVID has driven many buyers to more remote lifestyle areas there’s no doubt that convenient, secure, low maintenance strata living will continue to be in great demand as we move through the immediate impacts of the pandemic. &nbsp;</p>

<p>And as COVID has changed the way many of us live, many developers have also pivoted &amp; are now designing and&nbsp;buil​ding apartments that cater to the needs of this changing environment. And finally I believe the ideal combination of many empty nesters moving forward will be a great inner city living space along with a getaway within two hours so apartment living will reinvent itself and&nbsp;deliver the population what it wants post-COVID.</p>

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<p><strong>JC:&nbsp;Has urbanisation stalled or what will it look like over the decade ahead?</strong></p>

<p><strong>JM</strong>: As more employers and&nbsp;employees discovered that they no longer need to travel to a central location to effectively conduct their work I believe we will find a reduction of 25-35% of the workforces commuting daily to the CBD and&nbsp;commercial centres.</p>

<p>So this will have an impact on many jobs, employees and&nbsp;employers. Ans as many opt for home-based work this will undoubtedly have some impact on the shape of home and&nbsp;work environments &amp; locations.</p>

<p>Proximity to these commercial hubs for a percentage of the population will become less of a priority and&nbsp;lifestyle benefits such as proximity to family, beaches and&nbsp;parks will move up the checklist. But many people still want to be located within a reasonable commute of the many lifestyle benefits located in and around the CBD so I have no doubt that demand for these will continue to be in high demand.</p>

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<p><strong>JC: How important do you view the push for sustainability practices in the apartment market/new housing estates, and what initiative has seized your interest or focus?&nbsp;</strong></p>

<p><strong>JM</strong>: With more &amp; more demand for environmental sustainability from all generations there’s no doubt that buildings that are both gentler on the environment and&nbsp;more self-sufficient will become increasingly popular, especially for the younger generations.</p>

<p>As yet we’ve seen some movement in this direction but I expect this to rapidly escalate moving forward due to increasing education and&nbsp;agitation towards a cleaner greener environment. I think we will see this manifest in more environmentally friendly building materials as well as buildings that are less taxing on the planet once built.</p>

<p>Even though much of the demand has been driven from Generation X &amp; Y we are also seeing older generations paying more attention of late which will increase the pressure on developers to build bu​ildings that fall in line with not only council expectations but more importantly the expectations of the community and&nbsp;residents.</p>


"Apartment buying represents better growth in many parts of the country as houses become less affordable and overseas borders open up in 2022."

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Apartment living to reinvent itself post COVID: Five minutes with John McGrath

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<p>The ASX-listed real estate agency McGrath have announced they have returned to net profitability, with new chief executive Eddie Law citing a relatively strong residential real estate market over the past four months.</p>
<p>"It appears consumers are re-assessing their home needs and aspirations in a post-COVID world," Law, who was speaking at his first AGM having taken the top job in August, said.</p>
<p>"Both transaction volumes and average selling prices across our network have exceed the prior year in each of the first four months of FY21."</p>
<p>McGrath's FY20 saw an underlying EBITDA of $3.7 million, a $10.1 million turnaround from FY19 which has seen them return to net profitability.</p>
<p>"We ended 30 June with a strong balance sheet with zero debt and a $17.3 million cash balance, an increase of $7 million from 30 June 2019," Law added.</p>
<p>McGrath are forecasting underlying EBITDA to be in a range of $6 million to $6.5 million for the first half of FY21.</p>
<p>Law however was cautious amid the optimism of the general improved outlook, saying there is still undercertainty in the first half of 2021.</p>
<p>"With the scheduled end of the JobKeeper and deferred mortgage programs still yet to be determined, along with other macro factors impacting consumer confidence, there is still material uncertainty as to whether the momentum evidenced in the first half of FY21 will be maintained in the second half results."</p>
<p>McGrath shares were up over eight per cent on the positive news to 46c a share.</p>
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McGrath return to net profitability, reinstate dividend

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<p>McGrath Limited today announced the appointment of an additional non-executive director, Shane Smollen.</p>

<p>Mr Smollen’s appointment follows McGrath posting a significant turnaround with Underlying EBITDA of $3.7 million for the year to 30 June 2020, compared with a loss of $6.4 million in the previous year.</p>

<p>A leading property professional since 1983, Mr Smollen owned one of the country’s leading real estate networks before selling it to McGrath in 2015. Mr. Smollen, who currently holds 7.94% of McGrath’s issued capital, has been advising McGrath’s sales management team over recent months with a focus on productivity and revenue growth.</p>

<p>Chair of McGrath, Mr. Peter Lewis, said “Shane brings to the board an excellent real estate track record with expertise in all aspects of the sector, combined with integrity and insights that will accelerate our profit turnaround and restore shareholder value."</p>

<p>Mr Smollen said “I am delighted to join the board of McGrath, a company that I know well. I believe the group is well placed to take advantage of an expected consolidation of the real estate agency sector.</p>

<p>McGrath has performed significantly better than the market during the year, notwithstanding the ongoing impacts of COVID.</p>

<h2><strong>Recently listed properties:</strong></h2>

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McGrath appoints Shane Smollen as non-executive director

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<p><span>McGrath Estate Agents have announced the opening of a new office in Cooma NSW. </span></p>
<p><span>This will be the third new regional office in the past two months, following opening in Albury/Wondonga and Mansfield in Victoria.</span></p>
<p><span>Founder John McGrath believes that affordability provides a huge incentive for regional migration as families reassess their lifestyle options.</span></p>
<p><span>Mr McGrath said, </span><span>“COVID </span><span>has definitely accelerated the ability to work remotely and areas within a two hour radius of large towns and cities I believe will be very much sought after, particularly as a commute has never been easier with new infrastructure that connects the modern worker more readily and easily</span><span>.”</span></p>
<p><span>The Snowy Monaro </span><span>Shire’s </span><span>roots are rich in history dating back to the </span><span>1800’s</span><span>, however </span><span>Cooma’s </span><span>name and reputation has been highlighted as it is at the centre of </span><span>Australia’s </span><span>largest engineering project, the Snowy Mountains Hydro Electricity Scheme. The Shire itself is the main gateway to the Snowy Mountains, Kosciuszko National Park and within close proximity to Canberra and Queanbeyan, and just 1.5 hours to the south coast beaches.</span></p>
<p><span>Christopher Mourd, Head of Franchise Network for McGrath Estate Agents said, </span><span>“</span><span>We see real growth and opportunity in these key regional areas as they have outperformed their capital city counterparts through COVID.</span><span>” </span><span>(source: CoreLogic July 2020)</span></p>
<p><span>He adds, </span><span>“</span><span>The Snowy Mountains of NSW are a key lifestyle market for our ACT and NSW client base, who are increasingly attracted by its relaxed way of life, affordable housing, and sense of community. Cooma is central to this market, serviced by a local airport, excellent infrastructure and connectivity, the Goulburn Bombala Rail line as well as good health and educational facilities.</span></p>
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<p><span>“The </span><span>region traditionally is a mixed grazing area, however it has benefitted greatly from the Snowy Hydro Scheme, and the ski resorts within an hour of Cooma. However, 2020 has seen the full approval of the </span><span>nation’s </span><span>largest renewable energy project, Snowy 2.0 which is expected to create more than 2,000 jobs during the construction peak with thousands of jobs generated indirectly. With its added employment opportunities, we believe it offers excellent opportunity for growth in the next few years as a major regional hub for treechangers and young </span><span>families.” </span><span><br></span></p>
<p><span>McGrath Cooma will service the area from Michelago in the north to Delgate in the south; and Bemboka in the east to Thredbo in the west. Key suburbs will include Cooma, Bredbo, Berridale, Jindabyne and Thredbo.</span></p>
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<p><span>McGrath Cooma will be led by Principal Shannon Fergusson previously operating his own agency Fergusson Real Estate and Property with his wife, Rachel since 2010. Shannon has been in the industry for more than 20 years, and living in Cooma since 2005. </span></p>
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<p><span>The average median house price for Cooma is $320,000 with Shannon Fergusson achieving recent sales results </span>in the last six months including:</p>
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<p><span>44 Kiah Avenue Cooma </span><span>– </span><span>A street record for a four-bedroom home sold for $615,000</span></p>
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<p><span>6 Stratos Place Cooma </span><span>– </span><span>A street record for a four-bedroom home sold for $597,000</span></p>
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<p><span>9 Tulong Avenue Cooma </span><span>– </span><span>A street record for a five-bedroom home sold for $499,000</span></p>
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McGrath pushes further into regional lifestyle areas with a new office in Cooma, NSW

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<p>Geoff Lucas has departed the McGrath agency which has seen a 30 percent increase in transaction volumes over the past year.</p>
<p>McGrath Limited advised that its chief executive officer, Geoff Lucas, had "chosen to resign" following the presentation of the FY2020 financial results.</p>
<p>It advised McGrath has secured to a financial 2020 net profit of $700,000, versus a net loss of $9.7 million in the prior year.</p>
<p>For the year revenue climbed 11 per cent to $91 million. No dividends were declared in financial 2020.</p>
<p>Chair Peter Lewis said the board had accepted Lucas’ resignation after "what has been a difficult two and a half years for the company.”</p>
<p>Edward Law has been appointed to the role after a 14-year career at ANZ, with his last position at the bank being Global Head of Institutional Property.</p>
<p>An expert in structured commercial real estate debt funding, Mr Law most recently has been an executive director of Newground Capital Partners and investment director of MaxCap Group.</p>
<p>It was February 2018 when the then fformer McGrath chief operating officer Geoff Lucas emerged to take the top job at real estate company.</p>
<p>He was previously at McGrath for a decade until just after the 2016 float after its former chief executive Cameron Judson left.</p>
<p>Lucas, who was overlooked for the chief executive role in 2016 in favour of Judson, then briefly joined artisan NSW bread maker and cafe group Sonoma as its chief operating officer.<br><br>The agency has no debt and $17.3 million cash. <br>It said it expects property prices to decline over coming months with government stimulus packages, mortgage deferrals, and record low interest rates cushioning the falls.</p>
<p>It also tipped continued softness in the rental market.</p>
<p>The group declined to provide specific financial guidance for financial 2021.</p>
<p>McGrath shares sit at 19 cents.</p>
<p>The agency reported the impacts of COVID became evident at the onset of the pandemic in mid-March where transaction volumes were lower for a six-week period due to restrictions around open houses and on-site auctions.<br>"However, since then we have seen a rebound in sales volumes as these restrictions were eased and eventually lifted," it advised.</p>
<p>"Notwithstanding the impact of COVID, we are pleased to advise that the extensive work we have undertaken over the past year has manifested in our financial results with the company showing a turnaround in excess of $10 million in our underlying operating results and also returning to net profitability.</p>
<p>"Whilst there had been some impact on listing volumes since the onset of COVID, home values have remained quite resilient through this time.</p>
<p>"In our Property Management (PM) business, we have seen some decline in rental values.</p>
<p>"The lower demand due to the weaker labour market has impacted rents."</p>
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Geoff Lucas departs McGrath estate agency

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<p>The real estate group, McGrath Estate Agents, has reaffirmed its commitment to the Illawarra region announcing the opening of a new office in Thirroul.</p>
<p>It is under the auspices of its longtime franchise partner, the McCarthy/Sutherland Shire &amp; Illawarra Group led by Patrick McCarthy.</p>
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<p>John McGrath said McCarthy and his team had established their south coast market presence over eighteen months ago.</p>
<p>"So opening in Thirroul will be a value-add to their community of buyers and sellers alike.</p>
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<p>“Thirroul itself offers low density beachside living that is increasingly appealing to both Sydneysiders wanting an escape as well as those who are attracted to his wonderful lifestyle, amenity, and its proximity to Sydney and the regional cities of Wollongong and Canberra,” Mr McGrath added.</p>
<p>Last December Jeremy Hodder, joined the group and will now be partnering with Vanessa Denison-Pender, former director of One Agency Thirroul, to open the new office.</p>
<p>Vanessa has been in the industry for 17 years and has been a principal in the area for eight years. </p>
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<p>Mr Hodder believes that the affordability of the area is particularly attractive and in reach of first home buyers and empty nesters as well as the WFH commuter.</p>
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<p>McGrath Thirroul speciality suburbs include Thirroul, Austinmer, Wombarra, East Corrimal, Coledale, Towradgi, and Bulli.</p>
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<p>“The out of area migration from Sydney is becoming increasingly popular," Vanessa said.</p>
<p>Thirroul is only 80kms from the south of Sydney and many more people are becoming comfortable with this commute to put themselves in a better financial position.</p>
<p>“Since the onset of COVID-19, we have experienced a large number of enquiries from Sydney not only for relocation opportunities but also for investment options, this includes weekenders and beach holiday homes”.</p>
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<p>With an average median house price for Thirroul is $1,225,000; Vanessa Denison-Pinder has achieved some sales results in the last six months including: </p>
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<p>11 The Grove Austinmer – A street record for a 4 bedroom home sold for $2,925,000</p>
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<p>21 The Grove Austinmer – A 3 bedroom home sold for $1,600,000</p>
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<p>28 The Waves Thirroul – A street record for a 5 bedroom home sold for $1,465,000</p>
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<p>686 Lawrence Hargrave Drive, Coldale – A Beachfront 4 bedroom home sold for $2,410,000</p>
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<p>Recent sales by Jeremy in the last six months include: </p>
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<p>10a Toxteth Avenue, Austinmer – Brand new 3 Bedroom home sold for $2,350,000</p>
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<p>3 The Breakers, Thirroul – A 4 bedroom home sold for $2,325,000</p>
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<p>347-349 Lawrence Hargrave Drive, Clifton – Set a new suburb record for Clifton sold for $3,375,000</p>
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McGrath expands Illawarra footprint with an office in Thirroul

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<p>A four-bedroom, five-bathroom house in Hunters Hill sold for $5.6 million through McGrath estate agents Tracey Dixon and Nicholas Cowdrill on July 3, 2020. </p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-nsw-hunters+hill-133731718" target="_blank">39 Barons Crescent property</a> is set in a blue ribbon address and showcases a glamorous façade. </p>
<p>The luxury residence features flexible living and gathering spaces, an entertainers' terrace with barbecue area, a gas heated swimming pool and sauna, a lush landscaped garden, a home theatre room, study, and cellar.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/3/21_Hunters%20Hill%202.jpg" alt=""></p>
<p>The Chef's kitchen showcases a marble bar, butler's pantry and cooler room. </p>
<p>The four deluxe bedrooms each have access to a designated bathroom. </p>
<p>The property was last sold for $1.3 million in 2011. </p>
<p>According to Realestate.com.au, 56 other four-bedroom houses in Hunters Hill have recently been sold. A four-bedroom, three-bathroom home on Ryde Road sold for $3.1 million on June 12, 2020. </p>
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Luxury Hunters Hill trophy home sold for $5.6 million

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<p>Leading residential real estate group, McGrath Estate Agents, today announced the opening of a new office in Mansfield Victoria.</p>
<p>McGrath Mansfield will be led Kate McDougall and Allana Neely who were formerly at The Agency Victoria.</p>
<p>McGrath Mansfield will service a large area from Swanpool in the North, to Eildon in the South, Merton in the West to Mount Buller in the East. Key suburbs will include Mansfield, Jamieson, Barjarg, Piries, Merrijig, Tolmie and Ancona.</p>
<p>McGrath moved into Albury/Wodonga earlier this year.</p>
<p>Founder John McGrath has reinforced his view that regional areas in close proximity to large towns and cities will be particularly desirable as people reassess their lifestyle options.</p>
<p>“I believe the ability to work remotely and commute as needed is now a more acceptable part our everyday life and will no doubt impact property choices for many outside the traditional FIFO worker," McGrath said.</p>
<p>"We have long earmarked the growth of regional areas that are attractive for their lifestyle and affordability and anticipate a further migration trend post COVID-19.”</p>
<p>Mansfield Shire, situated in North East Victoria, is in close proximity to Melbourne and other regional centres (Shepparton, Wangaratta and Benalla) and easily accessed – 2.5 hours and 1 hour respectively.</p>
<p>It is equally close to the Albury airport with a two-hour drive that offers accessibility for both the modern commuter or tourist, attracted to its nearby lakes, national parks and ski fields.</p>
<p>Christopher Mourd, head of franchise network for McGrath Estate Agents said the opening was part of the overall strategy to service our clients effectively as they often make a migrational shift around future lifestyle and property choices.</p>
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