A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

Melbourne off the plan apartments

Melbourne developer Noetic Place has launched its eponymous Hampton apartment development, Noetic Places, offering some of the largest apartments on the market in the burgeoning Bayside suburb.

<a href="/developers/noetic-places">Noetic Places</a> is a celebration of design, landscape and community. <a href="/new-apartments/noetic-place-hampton-28-34-service-street-hampton">Noetic Place</a>, led by Stephen Barrow-Yu, worked extensively with the local council and community to create something that the community could celebrate, and to do that, they brought in the best collaborators.

<a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;designed the building, while the everpresent <a href="/architects/eckersley-garden-architecture">Eckersley</a> Garden Architecture handled the landscaping.

[smartcode_project:default project_id=134934 project_image_fid=277892]

The building, home to 33 two, three and four-bedroom apartments, has been designed to appear as three individual homes, mimicking the scale of nearby houses on the tree-lined Service Street, within a stroll of Hampton's beach, village and station.

The project's stepped façade features Krause bricks in sandy bayside tones, balancing the warmth of bronze metallic finishes. The exterior design is inspired by local Edwardian homes and beachy tones, featuring a light sandy brick facade with warm metallic details and timber battens.

The development is the second for Hampton-based boutique developer Noetic Places, building on the character of its first – Reunion Place - designed and delivered by the same team 500 metres away.

[smartcode_project:default project_id=134934 project_image_fid=277887]

Barrow-Yu involved neighbours in Noetic Place's design, taking time to listen to community concerns to ensure it is embraced by the Hampton community.

"We know that great architecture and design, and spaces of planted beauty, lift the spirit and add to the environment," Barrow-Yu said.

Two basement levels provide ample car spaces for residents, each with an electric charging capability.

Noetic Place prioritises green spaces by retaining established trees on-site and introducing curated pockets of local and native flora.

Upon entering Noetic Place, residents will be greeted by a lobby where the exterior brickwork textures smoothly transition into a spacious triple-height area featuring rose-tinted travertine stone, lush greenery, an overhead oculus skylight, and distinctive paving below.

[smartcode_project:default project_id=134934 project_image_fid=277890]

For the interiors of the apartments,&nbsp;Fender Katsalidis has chosen finishes and fixtures that align more with custom-designed, architecturally crafted homes.&nbsp;

Each residence is individually designed to maximise natural light and provide views of gardens or the neighbourhood.

[smartcode_project:default project_id=134934 project_image_fid=277881]

Residents will have access to several communal amenities, including a garden to the south of the site, featuring a pavilion with a kitchenette and a library for residents to enjoy.

Noetic Place is only 500 metres from Hampton Street, Hampton's go-to retail strip with specialty stores and eateries, including a grocer, baker, gourmet delicatessen, juice bar and a fruit market.

Evoke Property is marketing Noetic Place.

[smartcode_project_cta:default project_id=134934]

Noetic Place will comprise just 33 large-scale apartments designed by Fender Katsilidis just 500 metres from Hampton Street

Noetic Place Hampton: A celebration of design, landscaping and community

Boutique off the plan apartments have been few and far between in Prahran in recent years.

The cool suburb, known for its cafes, markets and bars, looks set to welcome one, and on arguably on one of the best sites in the area.

Developer Kincrest, who is currently developing The Watson in Essendon and&nbsp;Armytage in South Yarra and has previously delivered three projects in South Yarra, has submitted plans to the Stonnington Council for a mixed-use building on Grattan Gardens.

<img alt="Gratan St" data-entity-type="file" data-entity-uuid="08401620-6eec-42f4-b546-8199c18b36a3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%2010.36.45%20am.png?VersionId=ENF5HWQAoWKM4sfuZkfDItLa59Fbgp_P" />

Kincrest, led by Tom Howgate, secured <a href="/new-apartments/the-osment-prahran-3-7-grattan-street-prahran">3-7 Grattan Street</a> off market, and then amalgamated the neighbouring single-level warehouse to create 1,613 sqm and a 35-metre frontage to the park.

The plans by Cheah Saw Architecture are for 22 apartments across a seven-level building. The two three and four-bedroom apartments, offering larger than standard sizes, something which is built into Kincrest's development ethos, will sit above two levels of strata offices and a ground-floor cafe and retail space that will face the park.

"The Greville St precinct, with positive input from the City of Stonnington, has rejuvenated in recent years, we’re really excited to be within such a historical, vibrant area of life. We see this development as contributing to a world-class location" Howgate says.

"Both the apartments and the offices will be desirable for a lot of people. There's transport on the doorstep with the Prahran Station, access to Punt Road, and every service you could want within 200 metres. That's on top of being directly opposite the park, an opportunity that rarely presents itself."

<img alt="Kincrest" data-entity-type="file" data-entity-uuid="41b5f516-e2d8-44eb-921e-2837b6638535" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%2010.37.00%20am.png?VersionId=Ox1IDQzk6.073ZDOTq3FD4rLnx4aF8uy" />

Howgate says there's not been apartments or office spaces&nbsp;like this in Prahran before.

"We have a lot of confidence in the location and what's on offer, and we believe it will resonate with several buyer demographics."

Cheah Saw cleverly designed the building on an irregularly shaped block to step down from its roof, creating a green topography.

"The building is intended to be an extension of the park, a sloping green hill stepping down to Grattan Gardens.," the architecture firm noted in their documentation submitted as part of the planning process.

"The terraces are framed by greenery above and below, framing views to the park and utilising the concept of borrowed scenery, connecting the building to the park and beyond."

There's a maximum of six apartments per floor. The majority of the apartments are well over 150 sqm, something which Howgate says has stood them in good stead in a challenging market.

There will be four two-bedroom apartments, 17 three-beds, and a single four-bedroom penthouse that will share the top level with a communal terrace.

Howgate is hoping to launch the Grattan St project later this year.

Kincrest, led by Tom Howgate, secured 3-7 Grattan Street off market, and then amalgamated the neighbouring single-level warehouse to create 1,613 sqm and a 35-metre frontage to the park

Exclusive first look: Kincrest plots new Prahran apartments

The City of Boroondara has approved a new 12-level mixed-use development that will become the second tallest building in the area.

The project, at 697-699 Burke Road, <a href="/new-apartments/camberwell-vic-3124">Camberwell</a>, has been designed&nbsp;by <a href="/architects/cera-stribley-architects">Cera Stribley</a> for boutique property developer <a href="/developers/above-zero">Above Zero</a>&nbsp;and will have 36 apartments set above five levels of office space and retail on the ground level.

There will be a mix of 18 two-bedroom apartments, 13 three-beds and five four-bedroom units toward the top of the building.

The approval follows an extensive planning process that has been ongoing site 2015 when the&nbsp;City of Boroondara first refused a 15-level, 62-unit development on the 1,950 sqm site. A year later there was an application to reduce the building to 12 levels, and the number of apartments down to 53, which was also refused.

Local residents, particularly those from the nearby Aerial building, had raised concerns about the building’s height and parking provisions.

The final design, which gained support from both the council and previous objectors, includes office spaces on levels one to five, apartments on levels six to eleven, and a communal rooftop terrace on level 12.

<img alt="Cera Strib" data-entity-type="file" data-entity-uuid="56497ad5-4fd1-4353-9ef4-46e4a46c72af" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Cera%20Stribbely%202.jpg?VersionId=lBEwKI09LeWXQFszZofQbHYBk7_0vmb7" />

The Camberwell Junction area is expected to need a further 1,500 additional new dwellings by 2051 to keep up with population growth, the planning documentation suggested.

Council said that while the&nbsp;maximum building height set at 10 storeys in the structure plan, the design detailing and setbacks of any levels above that are extremely relevant and critical to their acceptability.

"We have consistently argued that the maximum building height on the review site is dependent on many factors, including retaining the visual primacy of the Aerial towers in the Junction’s skyline. These factors were exhaustively debated and examined in various VCAT orders, which found that a 12-storey form was acceptable on the subject site, keeping in mind that back then, the site was considerably smaller comprising 699 Burke Road only."

The Camberwell Junction area is expected to need a further 1,500 additional new dwellings by 2051 to keep up with population growth, the planning documentation suggested

Camberwell set for Cera Stribley-designed mixed-use development after green light

Abadeen is continuing to double down on Melbourne's premium owner-occupier market, grabbing a parkside development site in <a href="/developments/caulfield-north-vic-3161?sort=">Caulfield North</a>.

Having opened up shop in Victoria last year off the back of Abadeen's success in Sydney's Lower North Shore for the last two decades, <a href="/developers/abadeen-group">Abadeen</a>, led in Melbourne by industry veteran Andrew Leoncelli, beat out several other developers to secure 1,060 sqm on Caulfield Park.

The site at <a href="https://www.apartments.com.au/new-apartments/the-parker-219-balaclava-road-caulfield-north-vic-3161">219-229 Balaclava Road</a> is north-facing and offers uninterrupted views to the north and northwest, over the park and out to the city.

It was offered by JLL with permit-approved plans for a new seven-level apartment development designed by CHT Architects (below). The permit was for 29 two and three-bedroom apartments, a four-bedroom penthouse, two ground-floor retail spaces and a home office.

<img alt="Abadeen" data-entity-type="file" data-entity-uuid="24e257c8-bcb0-429b-a43b-1e3e18b53735" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-06%20at%2010.23.49%20am.png?VersionId=OSPk6HkveA7cBN14SwLc0Mdst97TNeMe" />

Abadeen VIC will go back to the drawing board and is engaging a leading architect to tweak the plans to make the apartments larger, but they will stay within the same envelope of what's been approved.

Leoncelli says the timing is right for a high-quality product to come to the local market.

“This market hasn’t had something of the quality that we’re looking to deliver," Leoncelli says.

“We want to do something bigger than what’s been delivered before to cater to the sophisticated, wealthy, local owner-occupier.

"The building envelope is excellent but we feel the product should be larger and of a higher quality especially given the incredible north-facing Caulfield Park, City and Bay view lines."

<img alt="abadeen" data-entity-type="file" data-entity-uuid="912395dd-3ab0-4922-bd8e-55804b4013ab" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-06%20at%2010.23.39%20am.png?VersionId=8WDEAS_ndB64HRdLt_hIy5tccDe9dBYB" />

The site was bought on long settlement terms, which should see construction commence toward the back end of 2025. It borders St Aloysius Church and two different tram routes are on its doorstep.

"The project continues Abadeen’s push into the east and south-eastern suburbs of Melbourne’s owner-occupier, high-end apartment market," Leoncelli added.

The Caulfield North project will be Abadeen third in Melbourne. They announced themselves on the scene in the Melbourne off the plan apartment market with <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a>, just seven luxury apartments on <a href="/new-apartments/malvern-east-vic-3145">Malvern East's</a> Central Park where they've recently started construction.

They also have a development application with Stonnington Council for another development at 646 High Street in Prahran. They're planning 26 apartments in a striking Carr-designed building that curves around a listed Smooth Bark Apple tree.

Leoncelli says the feedback from the application has been positive.

Read more: <a href="/news/vic/first-look-abadeen-lodge-plans-for-second-melbourne-apartment-development">First look: Abadeen lodge plans for second Melbourne apartment development</a>

Abadeen VIC will go back to the drawing board and is engaging a leading architect to tweak the plans to make the apartments larger

Exclusive: Abadeen grab next Melbourne off the plan apartment development site

ASX-listed developer Lendlease have some of Australia's most impressive projects under their banner.

Their focus is primarily on Australia's largest gateway cities of Sydney, Melbourne and Brisbane, creating landmark, precinct-style developments that change the skyline of each city.

They recently settled One Sydney Harbour, their luxury Barangaroo apartment tower that had prices range from $1,515,000 to $140 million, while in Melbourne they're continuing to progress with their multi-stage Collins Wharf development.

We recently caught up with Daniel Dugina, Lendlease Executive Director for Victoria, to chat about Lendlease and how they develop.

<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/4dZGiT6TXTY?si=cEXnRO7cfk-omo8S" title="YouTube video player" width="560"></iframe>

We recently caught up with Daniel Dugina, Lendlease Executive Director for Victoria, to chat about Lendlease and how they develop.

Michael Bird

Lendlease's focus on Australia's biggest precinct developments: Five minutes with Lendlease Executive Director Daniel Dugina

A difficult apartment development environment across Australia will mean under-supply levels worsen over the next few years and this lack of available stock will force buyers into the pre-commitment market and to pay more for off-the-plan apartments to compensate for higher construction costs.

That's the view from real estate services firm JLL, whose Apartment Market Overview: Australia Q1 2024 Report found apartment supply levels were already falling well short of underlying demand and the situation will only worsen as demand continues to rise and supply stays moderate.

Leigh Warner, JLL’s Head of Residential Research – Australia, said there are many factors supporting growth in apartment demand across Australia.

“Affordability is now being stretched in all our major cities. While it has been the case for a long time that buyers would have to start their housing journey and often stay in an apartment longer in <a href="/new-apartments/sydney-nsw">Sydney</a> because of affordability, the rest of the country is rapidly catching up and this is boosting underlying demand for apartments relative to the past,” Warner said.

“But this trend is being accelerated by current borrowing conditions. Borrowing capacity for most buyers has dropped enormously over the past 18 months and with dwelling prices continuing to rise over this period it has pushed detached houses well beyond the capacity of most first home buyers and indeed many investors.”&nbsp;

Despite positive underlying demand trends, we are building fewer apartments rather than more and conditions remain tough for developers, JLL’s Head of Residential Development Valuations, Bill Fatouros, says.

“Developers have faced one hurdle after another over recent years,” Fatouros said.

“First it was the dramatic slowing of domestic and foreign investor demand denting off-the-plan sales, then we had COVID hit and just as demand prospects improved recently, construction costs sky-rocketed and dented project feasibilities. But at some point, the worm has to turn quickly. There is now very little existing apartment stock available for sale and this means buyers will have no option but to buy off-the-plan and to pay the higher prices required to justify higher build costs."

JLL’s report notes that this is already happening at the higher end of the market for luxury boutique projects where downsizers have continued to drive strong demand.

“Downsizers have generally already done very well out of the housing market and the large amounts of equity they have accumulated means rising interest rates have not had the same impacts,&nbsp;Fatouros added.

Downsizers have been discerning buyers willing to pay the higher prices necessary to compensate for higher build costs in order to secure exactly what they want.

“We firmly believe it is inevitable that the same will happen across the broader apartment market and that a jump in pricing will have to happen to make mass-market projects viable. The recent acceleration in existing apartment price growth in many markets suggests this is getting closer to fruition."

<h2>Affordability the only constraint on rental growth</h2>

JLL’s report also highlights that with very little mass-market apartment stock being developed, there will not be any real supply relief for the already tight rental market where vacancy is already sitting at around one per cent across Australia.

“There are more Build-to-Rent (BTR) completions due over the next few years, particularly in <a href="/new-apartments/melbourne-vic">Melbourne</a>, but the numbers are still small compared to the drop in the overall apartment supply level and it will do very little to alleviate rental market pressures – even in Melbourne,” Warner said.

“The only real constraint we can see on rental growth over the foreseeable future is affordability. This is already being tested in some markets and we are already seeing tentative evidence of a slowing from the break-neck speed of the last few years. But over the medium-term we expect wage growth to become the speed limit for rental growth."

Supported by ongoing low supply levels, apartment pre-sales rates can do little else but rise strongly the next few years


Apartment pre-sales and prices set to rise: JLL

Coburg&nbsp;in Melbourne's north,&nbsp;boasts great local amenities, but a modern lifestyle means not always having to leave home to relax and indulge in leisure and recreational activities.

<a href="/developers/pace-development-group">Pace Development Group's</a>&nbsp;two-building, multi-residential development&nbsp;<a href="/buildings/pace-3058-coburg-9s-wardens-walk-coburg">Pace 3058</a>, is set to offer its residents precisely the balance of a great location in <a href="/developments/coburg-vic-3058">Coburg</a> and extensive lifestyle amenities to access and enjoy without the need to step outside.

&nbsp;

[smartcode_project:default project_id=24822 project_image_fid=254323]

Socialising throughout the day is made effortless with a residents' lounge and a private dining room, the latter designed for intimate gatherings with guests and neighbours outside of the home.

Pace 3058 also has a rooftop garden and communal terraces for larger gatherings. The rooftop will be furnished with sitting arrangements and shaded barbecue areas overlooking city views.

A 25m lap pool forms the fitness component of the development.

The ground-level plazas and walkways further contribute to the community vibe, lined with abundant vegetation that connects the various parts of the development.&nbsp;

[smartcode_project:default project_id=24822 project_image_fid=254326]

Residents are encouraged to actively participate in nurturing and maintaining the garden beds and trellises, fostering a sense of ownership and camaraderie within the community.

Pace 3058 will also activate the ground level with a downstairs retail store, bringing convenience and essentials right to the residents' doorstep.

Aside from the lifestyle amenities, residents of Pace 3058 will have at least one designated parking spot for their apartment and additional spaces for larger units. The development also offers 311 designated storage cages available for residents' belongings.

Security is a top priority in the development, with CCTV coverage provided in key communal areas such as lifts, corridors, car park levels, and entry points. Access to the building is controlled via swipe card or fob, ensuring only authorised individuals can enter.

&nbsp;

[smartcode_project:default project_id=24822 project_image_fid=254325]

Pace 3058 comprises a total of 311 apartments and townhouses designed by SJB Architects. Prospective buyers can choose from one, two, and three-bedroom DDA-compliant apartments, as well as double-storey three-bedroom townhouses.

Construction of Pace 3058 by Pace's in-house building arm,&nbsp;<a href="/builders/pace-constructions">Pace Constructions</a>,&nbsp;is scheduled to be finished in the coming months.

[smartcode_project_cta:default project_id=24822]

Construction of Pace 3058 by Pace's in-house building arm, Pace Constructions, is scheduled to be finished in the coming months

mikah.m@urban.com.au

The extensive facilities on offer at Pace 3058, Coburg off the plan apartment development

KM Develop's Chapter Ashburton apartment development is nearing its final stages, with construction now 95 per cent complete.&nbsp;

Located at 363-367 High Street in Ashburton, <a href="/buildings/chapter-ashburton-363-367-high-street-ashburton">Chapter Ashburton</a> comprises 24 one, two, and three-bedroom apartments designed with the owner-occupier in mind, in a collaborative effort between <a href="/architects/ewert-leaf">Ewert Leaf</a> and landscape architecture firm <a href="/landscape-architect/john-patrick-landscape-architects">John Patrick</a>.&nbsp;

<a href="/builders/hamilton-marino">Hamilton Marino</a>, the construction firm behind the project, has projected the development to be fully completed within three weeks.&nbsp;

[smartcode_project:default project_id=105071 project_image_fid=230438]

Chapter has already sold over 85 per cent of its apartments, with only a few two and three-bedroom units still available, starting at $898,000. KM Develop is only requiring a $20,000 deposit at this stage.

Steven Wong, <a href="/developers/km-develop">KM Develop</a> Managing Director, expressed his enthusiasm for the project, highlighting its significance for the area.

"Apartment projects of this quality do not exist in <a href="/developments/ashburton-vic-3147">Ashburton</a>," Wong says.

"The options for people to downsize within this area are very limited. People love living in Ashburton because of its great vibe and strong sense of community. We saw an opportunity to fill a gap and to provide high-quality apartments equal to those you see in <a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>, <a href="/new-apartments/malvern-vic-3144">Malvern</a>, and <a href="/new-apartments/camberwell-vic-3124">Camberwell</a>."

[smartcode_project:default project_id=105071 project_image_fid=205545]

Residents of Chapter Ashburton will enjoy an array of amenities, including EV charging with individual power outlets for all resident car parking spaces, integrated parcel delivery through secure lockers, and a convenient dog wash bay for pet owners.&nbsp;

The project also meets BESS sustainability standards, incorporating initiatives such as a rainwater harvesting system for toilet flushing and irrigation.

Darren Blair from Blair Property Group is handling the sales.

[smartcode_project_cta:default project_id=105071]

Steven Wong, KM Develop Managing Director, expressed his enthusiasm for the project, highlighting its significance for the area

KM Develop's Chapter Ashburton now 95 per cent complete

Multi-residential apartment developer H1Land Group has commenced construction on their Highett apartment development, Southpoint.

<a href="/developers/h1land-group">H1Land</a> grabbed one of the most connected blocks of land in the whole of Highett, where the&nbsp;<a href="/architects/rothelowman">Rothelowman</a>-designed <a href="/new-apartments/southpoint-highett-1233-nepean-highway-highett">Southpoint</a> towers will rise from completed in early 2026.

[smartcode_project:default project_id=3844 project_image_fid=224757]

Southpoint will consist of a 12-level building offering views over Bayside and a four-level building fronting Matthieson Street, designed for more exclusive, boutique-style living.

The development will include 217 apartments, ranging from one to three bedrooms, with prices starting at $465,000 for a one-bedroom unit.

The 12-level building will feature rooftop amenities, including a plunge pool, communal well-being spaces, barbecue facilities, and a bar area. These amenities will provide uninterrupted 360-degree views of the Bay, CBD, and Dandenong Ranges.

[smartcode_project:default project_id=3844 project_image_fid=224760]

Southpoint is strategically located across the road from Westfield Southland, one of Australia's largest shopping centres, and is just a six-minute walk from Southland Train Station.

The development is also a 10-minute drive from Melbourne's Bayside beaches and within the catchment area of several reputable educational institutions including Firbank Grammar, Mentone Grammar, and Cheltenham Secondary College.

Southpoint is expected to be completed by early 2026, providing a mix of residential options aimed at both families and professionals looking for a connected and well-serviced location.

Savills is handling the project marketing for Southpoint.

[smartcode_project_cta:default project_id=3844]

Southpoint is expected to be completed by early 2026, providing a mix of residential options aimed at both families and professionals looking for a connected and well-serviced location

H1Land Group commence construction on Southpoint, Highett apartments

Design-led developer Orchard Piper’s latest mixed-use, super-premium offering in Melbourne’s most affluent enclave, Toorak Village, has solidified its status as the city’s most exclusive address - achieving the sales of both sub-penthouses for record rates.

The level four residences located at the corner of Mathoura Road and Toorak Road, Toorak, each sold for north of $11.5 million, exceeding $38,000 per square metre.

These sales mark the project as over 70 per cent sold and bring the building’s average sales price per apartment to $8 million, with an average per square metre rate exceeding $32,000 – the highest of any building ever in <a href="/new-apartments/melbourne-vic">Melbourne</a>, according to Chris Pulvirenti, Director of Savills Melbourne.&nbsp;

<a href="/developers/orchard-piper">Orchard Piper</a>&nbsp;Director Luke McKie says the recent sales, combined with the overall strong reception to the project, have been encouraging in what is a two-speed market.&nbsp;

[smartcode_project:default project_id=134093 project_image_fid=275649]

“The market has responded with confidence to this extremely rare opportunity within the Village as it goes about a period of significant renewal and transformation," McKie says.

"These sales demonstrate the deep local demand for high-quality, tasteful architectural development. It marks the reception of a new &nbsp;design standard for Melbourne – a theme we continuously aim to exceed across our portfolio.”&nbsp;

Read more:&nbsp;<a href="/news/vic/creating-luxury-apartments-in-luxury-suburbs-five-minutes-with-orchard-pipers-luke-mckie">Creating luxury apartments in luxury suburbs: Five minutes with Orchard Piper's Luke McKie</a>

With the project designed by internationally renowned <a href="/architects/kerry-hill-architects">Kerry Hill Architects</a>, the two sub-penthouses boast impressive house-like proportions - each around 330 sqm in size and with three bedrooms, three bathrooms, multiple living zones and three car spaces.&nbsp;

The sub-penthouse sales further complement the earlier sale of the project’s 400 sqm penthouse, &nbsp;which was achieved last year for $12.5 million.

[smartcode_project:default project_id=134093 project_image_fid=275654]

Orchard Piper Director, Rick Gronow, says all three residences - the penthouse and sub-penthouses &nbsp;- were sold to existing Toorak locals through the developer’s own networks. &nbsp;

“They are all downsizers—Toorak residents not wanting to leave the community they know, but wanting a step up in quality, amenity and an increase in security at a more manageable scale,” said Gronow.&nbsp;

“They also recognise the change happening in Toorak Village, as new retail, restaurants and &nbsp;occupants continue to fill the old spaces of the Village - reinvigorating it and bringing new energy.” &nbsp;

[smartcode_project:default project_id=134093 project_image_fid=275651]

Fronting 109 Mathoura Road, the residential building encompasses nine spacious apartments, each with a minimum of three bedrooms and three on-grade, side-by-side car spaces. Offering a level of privacy for residents not typically provided, each residence comes with its own private lobby, with a maximum of two properties per floor. &nbsp;

The project will also have three floors of premium offices, with a covered retail colonnade activating the street level. Four of the five full-floor and half-floor premium-grade strata office stock, ranging from 210 sqm to 930 sqm, have been sold, achieving an average sales rate exceeding $18,500 per square metre.&nbsp;

[smartcode_project:default project_id=134093 project_image_fid=275648] 
&nbsp; 
<a href="/new-apartments/toorak-village-toorak-109-mathoura-road-toorak">Toorak Village</a> marks the first of three exclusive projects in the Orchard Piper and Kerry Hill Architects alignment, which will see KHA’s designs brought to Melbourne for the first time. This includes a $400 &nbsp;million super-premium mixed-use project located at the previous, well-known Mercedes Benz Toorak site at 7–11A and 17–19 Carters Avenue, as well as a $300 million, 17-storey 5-star hotel and developer-branded residences situated at the heart of Melbourne's sporting, entertainment and arts precinct, at 448 St Kilda Road.&nbsp;

Construction for Orchard Piper’s Toorak Village project is well underway, and due for completion in the second half of 2025. Orchard Piper’s Albert Street Melbourne project is due for completion in early 2025 as well.&nbsp;

[smartcode_project_cta:default project_id=134093]

Orchard Piper Director, Rick Gronow, says the penthouse and sub-penthouses were sold to existing Toorak locals through the developer’s own networks

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