New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

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>.

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

Melbourne off the plan apartments

The recently completed Doncaster apartment development, <a href="/buildings/aradena-14-16-clay-drive-doncaster">Aradena</a>, sits on one of the most picturesque streets in the <a href="/developments/doncaster-vic-3108">suburb north-east of Melbourne</a>.

It was the second project in the Aradena series that architect Metaxas worked on with developer KPG Property Group. The <a href="/buildings/aradena-14-16-clay-drive-doncaster">five-level apartment building</a> at&nbsp;14-16 Clay Drive&nbsp;comprises just 22 apartments.

“<a href="/buildings/aradena-14-16-clay-drive-doncaster">Aradena Doncaster</a> is a highly sculptural building which follows the contours of its steeply sloping site,"&nbsp;George Metaxas, Metaxas Architects Principal, said.

[smartcode_project:default project_id=8504 project_image_fid=68763]

The building's façade commands attention, embracing the distinctive sloping terrain upon which it rests. With an asymmetrical profile, recessed voids and architectural protrusions imbue the structure with visual dimension, resulting in a bold yet composed contemporary aesthetic.

The restrained material palette is accentuated by sleek black window frames, featuring refined reflective glass. The entrance is adorned with verdant plantings, softening Aradena's modern exterior while harmonising with <a href="/developments/doncaster-vic-3108">Doncaster's verdant surroundings</a> and the lush foliage of Clay Drive.

Aradena's interiors, curated by Bergman &amp; Co., are a testament to artful design and attention to detail, with each residence exuding an sense of purpose and luxury that resonates with every touch.&nbsp;

[smartcode_project:default project_id=8504 project_image_fid=68767]

“We create unique and bespoke spaces that enhance people's experiences, a notion that is distinctly tangible within Aradena’s curated interiors," Wendy Bergman, Bergman &amp; Co. Principal, said.

"At once luxurious, homely and authentic, every aspect of these homes has been meticulously considered.”

[smartcode_project:default project_id=8504 project_image_fid=68765]

At the heart of the homes lies the expansive open-plan kitchen and living area, the very soul of domestic comfort. Generous floor-to-ceiling windows harness abundant natural light, suffusing the space with an invigorating and welcoming ambiance.

The well-designed kitchens boasts modern appliances, integrated with ample storage and textured tile surfaces, as well as chic veneer joinery which marries harmoniously with warm timber floors.

Two and three-bedroom apartments are still available in the development.

[smartcode_project_cta:default project_id=8504]

The five-level apartment building at 14-16 Clay Drive ​​​​​​​comprises just 22 apartments

alisonwarters@gmail.com

Inside the recently completed Doncaster apartment development, Aradena

Aster Apartments is the final release in the thriving Jackson Green masterplanned community by Cedar Woods in the heart of Clayton South.

The new precinct,&nbsp;just 20-kilometres from Melbourne's CBD,&nbsp;brings modern living to the forefront while seamlessly integrating into the dynamic fabric of Melbourne's south eastern suburbs.

Boasting a strategic location, Aster Apartments offers its residents an unparalleled blend of convenience, lifestyle, and community. From the bustling local markets offering the freshest produce to the sprawling retail haven that is Chadstone Shopping Centre, every necessity is a stone's throw away.

[smartcode_project:default project_id=4124 project_image_fid=187628]

The real allure of Clayton South lies not only in its retail offerings but also in its role as a hub for healthcare, transport, and education. The presence of numerous schools and the esteemed Monash University adds a layer of academic excellence to the area, making it a sought-after destination for families and students alike.

Set across three buildings, Aster Apartments was designed by DKO architects, with a focus on spacious open plan living areas and premium fixtures throughout. Each apartment echoes the ever-evolving nature of Melbourne's south eastern suburbs.

The final release of Aster Apartments within the Jackson Green community is a triumphant culmination of Cedar Woods' vision. Two and three bedroom apartments, adorned with generous living spaces and high-quality finishes, beckon residents to bask in the epitome of comfort and style.

[smartcode_project:default project_id=4124 project_image_fid=203080]

One of the standout features of Aster Apartments is its prime location, enveloped by green expanses. Set just opposite Jackson Green's central park, residents enjoy unparalleled access to outdoor serenity. Beyond the confines of their modern abode, a recreational haven awaits - complete with a dog park, basketball courts, the Djerring trail, and a myriad of other outdoor facilities for the community to revel in.

The multicultural tapestry of Clayton South and its environs is a testament to its diverse and vibrant community. A smorgasbord of dining and shopping options, including gourmet restaurants and cafes catering to every palate, paint a vivid picture of the suburb's cultural richness.

[smartcode_project_cta:default project_id=4124]

The new precinct, just 20-kilometres from Melbourne's CBD, brings modern living to the forefront while seamlessly integrating into the dynamic fabric of Melbourne's south eastern suburbs

Aster Apartments: A modern oasis in Clayton South's vibrant community

Boutique Melbourne property developer Piccolo has spent around $35 million on an apartment development site in <a href="/developments/kew-vic-3101">affluent Kew</a>.

The 8,475 sqm site at 18 Barry Street, on the corner of A'Beckett Street, will offer view lines across Yarra Bend Park and Studley Park, as well as the <a href="/developments/melbourne-vic">Melbourne CBD skyline</a>.

Piccolo Managing Director Michael Piccolo said from the very beginning, they saw the AAA-rated site as a perfect fit.

"Its location, surrounded by the serenity of leafy streets and impressive vistas, combined with its scale, liveability, and character, ticks&nbsp;all the boxes for us," Piccolo says.

"This unique opportunity is a rare gem in the current market, where properties of such calibre are extremely scarce."&nbsp;

While designs are currently being drawn up by Woods Bagot, in yet another partnership between the two, the project, A Piccolo House - Barry Street, Kew, is expected to be worth around $180 million.

The newly acquired site is currently occupied by a former Residential Aged Care Facility (RACF), comprising a combination of single and two-story buildings.

<a data-entity-type="file" data-entity-uuid="77ba6615-144d-4186-a23e-c25cd1373a69" href="/new-apartments/piccolo-house-barry-st-kew-barry-street-kew-18-barry-street-kew"><img alt="Piccolo" data-entity-type="file" data-entity-uuid="77ba6615-144d-4186-a23e-c25cd1373a69" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-14%20at%2010.41.33%20am.png?VersionId=Ys2gpCoTiIKYRZYXANxTmUt7rauWhtxT" /></a>

"At Piccolo, we are driven by the desire to create homes that come with the promise of longevity and also enhance the lives of our residents, and the surrounding community with timeless developments," Piccolo added.

"In addition to finding the right partners, the ability to find the perfect site for every Piccolo home is an important part of achieving this goal. A building should be about more than just the residents who occupy it – if it’s loved by the community, it will remain for generations."

Piccolo will also bring in fellow long-term partner Hecker Guthrie to transform the site into a connected community.

"We are excited to join hands once more with Woods Bagot to bring to life our vision for this exceptional development site. Their innovative approach to design, combined with our commitment to excellence, will once more result in remarkable living spaces that offer both luxury and functionality."

This site acquisition follows Piccolo’s sales success with 385 Gore Street, Fitzroy which is currently under construction after selling&nbsp;70% of the residences in less than 5 months.

Colliers Director for Development sites Hamish Burgess, who handled the transaction with colleagues Ian Sanders and Justin Hazell, said development propositions of this stature within one of Melbourne's most coveted residential locations are rarely offered to the market.

"Its corner location, potential for stunning view lines, proximity to Kew Junction shopping village, and unique scale provides the perfect foundation for a market-defining project.”&nbsp;&nbsp;

Piccolo Managing Director Michael Piccolo said from the very beginning, they saw the AAA-rated site as a perfect fit

Piccolo buys $35 million Kew site for next development

Orion International Group's Summus apartments in <a href="/developments/maribyrnong-vic-3032">Maribyrnong</a> was a landmark building when it was completed in 2018.

The three-tower, mixed-use development is among one of the tallest in <a href="/developments/maribyrnong-vic-3032">Maribyrnong</a>, comprises a mix of apartments, townhouses, and 45 hotel rooms currently operated by Quest.

Towering above its surroundings, Summus stands tall as one of <a href="/developments/maribyrnong-vic-3032">Maribyrnong’s</a> most distinctive landmarks, offering panoramic views that stretch across Melbourne's inner realms and the city skyline.&nbsp;

The strategic location of Summus amplifies its allure. With tram and bus stops conveniently positioned just outside the building, urban connectivity is at your doorstep. Nestled in the heart of Maribyrnong, this emerging hotspot effortlessly combines the tranquility of riverside living with the vibrancy of city life.

[smartcode_project:default project_id=764 project_image_fid=37052]

The world-renowned Highpoint Shopping Centre, a stone's throw away, ensures that retail therapy and culinary exploration are always within easy reach. The verdant Maribyrnong riverbanks beckon for leisurely strolls, and an eclectic array of restaurants and eateries cater to every palate.

The light-filled floorplans are a canvas for the carefully curated high-quality fixtures and fittings that adorn each apartment. The large double glazed windows not only flood the interiors with natural light but also ensure a serene and peaceful living experience.

The focus on comfort and luxury is clear in every aspect, with standalone car spaces and storage cages ensuring convenience without compromise. And for those seeking more, additional car spaces are available for lease, catering to the unique needs of every resident.

[smartcode_project:default project_id=764 project_image_fid=37055]

Summus is not just a place to live; it's a place to thrive. The communal garden retreat and entertaining area at the heart of the development offer a serene sanctuary for residents. Whether it's a quiet escape under the shade of a tree or a vibrant get-together with friends, this space effortlessly transforms to suit any mood.

Overlooking the lush gardens, a private lounge and dining room invite residents to host dinner parties, leisurely weekend lunches, or casual gatherings, creating a sense of community that is the hallmark of Summus living.

[smartcode_project_cta:default project_id=764]

The three-tower, mixed-use development is among one of the tallest in Maribyrnong, comprises a mix of apartments, townhouses, and 45 hotel rooms currently operated by Quest

One of Maribyrnong's tallest towers: How Orion's Summus apartments fit into the local landscape

There's nothing like a boost of confidence in a project when the penthouse sells.

It tells other prospective buyers someone is so confident in what's being developed that they're wanting to buy the most expensive apartment in the building.

Melbourne developer Salter Brothers has sold all of the penthouses crowning their new <a href="/developments/ivanhoe-vic-3079">Ivanhoe apartment development</a>, Candela.

<a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a> has proven popular with a range of buyers, given it's diverse mix of apartment configurations and price points. It offers loft-style, one-bedroom apartments, right through to the now spoken for penthouses.

[smartcode_project:default project_id=342 project_image_fid=212233]

The spacious floor plans are designed to accommodate young families, multi-generational living, downsizers, and couples seeking a lock-up-and-leave lifestyle with ample space for guests.

The well-appointed kitchens feature Miele appliances, including a stainless steel dishwasher and refrigerator.

<a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela's convenient location</a> at the gateway of Ivanhoe Village further enhances its appeal. With a Walk Score of 90 out of 100, <a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a> is a "walker's paradise," allowing residents to take in the best the suburb has to offer, all without a car.

[smartcode_project:default project_id=342 project_image_fid=212226]

The nearby Ivanhoe train and bus station can be reached within a short 6-minute stroll, making commuting a breeze, while the surrounding parklands, cafes and restaurants, which trail along Upper Heidelberg Road are also within easy reach.&nbsp;

Beyond its practicality, Ivanhoe is also known for its rich history and reputation as an education enclave, housing some of Melbourne's finest public and private schools, making <a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a> an attractive option for families.

<a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a> boasts a 7-star energy rating, with the John Demos-designed residences crafted to maximise natural light and cross flow ventilation.

Residents will also benefit from a range of amenities within Candela, including an in-house cade, an atrium, wine bar, providore, and a rooftop garden which takes in expansive views across Ivanhoe and toward the city skyline.&nbsp;

[smartcode_project_cta:default project_id=342]

Candela has proven popular with a range of buyers, given it's diverse mix of apartment configurations and price points

Confidence nod at Candela Ivanhoe as penthouses snapped up

Developer Time &amp; Place, along with joint venture partner MaxCap, have teamed up with TFE Hotels to bring a $150 million hotel to their mixed-use <a href="/developments/southbank-vic-3006">Southbank development</a>, The Queensbridge Building.

TFE will operate the 188-room hotel which will be called the Hannah St. Hotel. The building, which also comprises 367 apartments, is currently under construction by Hickory and is expected to complete in September 2025.

Hannah St. Hotel - which sits at the nexus joining <a href="/developments/melbourne-vic">Melbourne CBD</a>, the Yarra River, <a href="/developments/south-melbourne-vic-3205">South Melbourne,</a> and the Arts Precinct - will feature a neighbourhood bar, restaurant, and rooftop bar/events space across 10 levels.

The residential amenity will comprise a&nbsp;lap pool, wellness studio, gym, sauna, steam rooms, co-working spaces, providore in the foyer and a private dining room.

[smartcode_project:default project_id=1504 project_image_fid=218130]

Time &amp; Place Director Tim Price said <a href="/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank">The Queensbridge Building</a> references a bygone era of brass, steel, and stone, emulating the postcode’s industrial era. The development’s striking facade was designed in collaboration with Elenberg Fraser, with interiors by the renowned Flack Studios.

“As developers, we want to facilitate the development of legacy projects that invite art, design and culture to influence one another," Price said.

"We envisage the hotel will become ingrained in the cultural fabric of the suburb and form a part of the transformation, coming to life as a ‘neighbourhood hotel’ for locals and visitors alike.

“As we set out to bring this landmark hotel to <a href="/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank">The Queensbridge Building</a>, we are looking to bring international influences to <a href="/developments/southbank-vic-3006">Southbank</a> through design and experiences. We anticipate that our hotel will be regarded as the place to stay for anyone in the arts visiting the city.”

“This is a neighbourhood hotel. A building with roots in the community and a place where you’re welcomed in to enjoy the hospitality whether you’re staying short term or you’re a permanent resident. We aren’t developing and leaving, we’ll be in this building long after its doors have opened,” Price said.

[smartcode_project:default project_id=1504 project_image_fid=208256]

TFE"s Collection Brand also includes Brisbane's famous Calile Hotel. TFE Hotels CEO Antony Ritch says TFE is 100 per cent focused on partnerships with legacy makers, like Time &amp; Place, who make a wholehearted commitment to the neighbourhood.

"Collection by TFE Hotels really are one-of-a-kind experiences and they take inspiration from local culture and from their surroundings," Ritch said.

"These have a unique model of close owner collaboration, and we are incredibly fortunate to have partnered with Time &amp; Place and MaxCap on a building that will not only become a place maker for Melbourne's newest lifestyle destination but provide such incredible amenities for the community."

“What I love about this project is that Hannah St. Hotel will deliver an experience in a neighbourhood that is transforming, thanks to an investment in Australia’s largest cultural infrastructure project, into a truly world class art precinct," he added.&nbsp;

Ritch said&nbsp;<a href="/developments/southbank-vic-3006">Southbank</a> is connected to the best of Melbourne.

"It has a lot of energy and a real focus on arts, sports, and the outdoors, with 18,000 sqm of additional public gardens set to be delivered, which beautifully complements those iconic Melbourne experiences that we all love so much."

[smartcode_project:default project_id=1504 project_image_fid=218169]

An onsite ‘Experience Director’ will engage with building residents to create one-off experiences whilst a lap pool for training, large scale gym and a work club complete with sound-proof pod casting rooms which are all easily accessed by hotel guests.

Time &amp; Place and Hickory realised the potential of the Kings Way Overpass urban parklands early on and partnered with Australian Indigenous Artist, Reko Rennie prior to commencing construction on site to activate their own ‘Underpark’ with a temporary basketball court.

[smartcode_project_cta:default project_id=1504]

The building, which also comprises 367 apartments, is currently under construction by Hickory and is expected to complete in September 2025


Time & Place, MaxCap and TFE Hotels announce $150m boutique hotel at The Queensbridge Building, Southbank

The consecutive rate holds by the Reserve Bank of Australia has put a spring in the step of both homeowners and prospective property purchasers.

The official cash rate is now at 4.1 per cent, and it's expected it's either at the peak, or is one rate hike away. Three of the Big Four banks now expect the cash rate has peaked, with NAB expecting one more hike, in November.

Now attention has turned to when rates will start coming down. The majority of economists and experts don't think it will be until at least the second half of 2024, although CBA, the nation's biggest lender, believes it could be as early as March.

<h2>How will the cash rate holds affect the off the plan property market?</h2>

Everything has pointed to continued growth in the apartment market across nearly every capital city in the country. What's been holding back significant growth in some capitals has been the RBA's rate hikes over the last 15 months.

Immigration forecasts, low building approvals, problematic construction costs, land prices, and critically low supply suggests apartments can only get more expensive from here on in.

What seems to be a more difficult conversation in the off the plan apartment market is trying to get the buyer to understand what the cash rate is now doesn't really matter (that is of course unless the building is approaching completion.)

What's important in the off the plan market is what the cash rate will be when the building is complete. If construction is 12 months or so away from completion, then you might actually be buying into an environment where mortgage rates are dropping.

For the last 12 months or so, project marketers have had wave after wave of buyer come through their display suite doors, without any confidence in what they can spend, and what their mortgage repayments might look like come completion date.

Projects by Buxton Director Heath Thompson says the pause will particularly help buyers in the off the plan market.

"It's been hard for people to have a good understanding of what their borrowing capacity will be in the 12-18 months time when there has been such uncertainty around interest rate movement," Thompson says.

"Finance brokers have only been able to advise on what they can borrow now and this has been a moving target each month. I think we are getting to a time where people can start to forecast their finances with some confidence."&nbsp;

Thompson believes different sectors will react in different ways depending on circumstances.

"Younger and middle age demographics have been heavily impacted by reduced borrowing capacity and general uncertainty, whereas downsizers generally borrow very little or not at all to purchase so are less impacted."

[smartcode_project:default project_id=5495 project_image_fid=190763]

<div style="text-align:start">
Scott Jessop, Sales and Marketing Director at Sunkin who have recently launched their sustainable Highett Common masterplan, said there's certainly a lot more buyer confidence since the first RBA pause, and he expects there to be even more now they've paused for a second month in a row.

"Purchasers are looking ahead to the next 12-24 months and thinking that we should be in a much more stable economic period&nbsp; than we are now, and having additional time prior to settling gives them an advantage to get themselves ready to have a mortgage over this period," Jessop says.

Jessop says, despite winter traditionally being a slower period for off the plan property, this year&nbsp;has remained reasonably strong across the board due to the low supply volumes currently on market.&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=213936]

"Generally speaking, a lot of purchasers are still comfortable with interest rates normalising following COVID, but the speed of the increases was the major issue which can affect people's foresight and future planning, they end up thinking in the now.

"On the flip side, we've still seen a lot of strong demand even with this going on which just goes to show the underlying strength of the property market at the moment."

Jessop believes there may only be a small window however for buyers to secure apartments at their current price.

"I really think there is a slight window of opportunity to get in and purchase now prior to the immigration influx, prior to interstate migration picking up again and drastically low current and future housing supplies."

It's a sentiment felt by property advisory giant Charter Keck Cramer, who believe off the plan apartments could rise by up to 25 per cent. A study across 10 Melbourne suburbs found some developers have already started putting their prices up by 15 to 25 per cent, and buyers are paying it.

Read more:&nbsp;<a href="/news/vic/melbourne-off-the-plan-apartment-values-could-spike-25-per-cent-charter-keck-cramer">Melbourne off the plan apartment values could spike 25 per cent: Charter Keck Cramer</a>
</div>

For the last 12 months or so, project marketers have had wave after wave of buyer come through their display suite doors, without any confidence 

How the RBA rate holds will impact the off the plan property market

When the concept of West Side Place was first imagined a decade ago, it promised to deliver a <a href="/developments/melbourne-vic">new Melbourne address</a> unlike any other. Today, that vision and promise have been realised in the form of one of Melbourne's biggest inner-city mixed-use developments, transforming the former Age newspaper site into a vibrant precinct that occupies an entire city block.

Designed by Cottee Parker, the ambitious project stands tall with four residential towers and the prestigious Ritz-Carlton and Dorsett Hotels, all interconnected by a vibrant central laneway.&nbsp;

The masterplan of West Side Place aimed to redefine <a href="/developments/melbourne-vic">Melbourne's urban living experience</a> by creating an integrated precinct that harmoniously combines residential, commercial, and hospitality elements.&nbsp;

[smartcode_project:default project_id=1270 project_image_fid=141273]

The four residential towers offer luxurious living spaces catering to diverse lifestyles and preferences. From stylish apartments with views to world-class amenities, the towers set a new standard for urban living in Melbourne.

The inclusion of the Ritz-Carlton Melbourne and Dorsett Hotels adds an element of luxury and prestige, making West Side Place a world-class destination. The Ritz-Carlton's exceptional service and opulent accommodations promise an unparalleled experience, while the Dorsett Hotel caters to modern travellers seeking chic and comfortable stays.

Central to West Side Place's appeal is the vibrant central laneway, a hub of activity and social interaction. Lined with diverse cafes, restaurants, boutiques, and specialty stores, the pedestrian-friendly space fosters a strong sense of community and connectivity, enriching the overall living experience for residents and visitors.

[smartcode_project:default project_id=1270 project_image_fid=217064]

The on-site retail arcades at West Side Place offer convenience and diversity at residents' doorstep, providing an array of shops and services to meet every need.&nbsp;

What truly sets West Side Place apart are its world-class amenities, designed to elevate residents' lifestyle to unprecedented levels. State-of-the-art fitness and wellness facilities, private dining rooms, tranquil rooftop gardens, and swimming pools promote wellness, relaxation, and social engagement.&nbsp;

With its completion, West Side Place marks a momentous milestone in <a href="/developments/melbourne-vic">Melbourne's urban evolution</a>. As Victoria's largest residential development to date, it stands tall as a testament to Melbourne's commitment to innovation, urban renewal, and the well-being of its residents and visitors.&nbsp;

[smartcode_project_cta:default project_id=1270]

The masterplan of West Side Place aimed to redefine Melbourne's urban living experience by creating an integrated precinct that harmoniously combines residential, commercial, and hospitality elements

Construction completes at Far East Consortium's West Side Place, Melbourne apartment development

New developer JSMN has quickly had its first residential apartment development approved, on Fitzroy's popular Napier Street.

JMSN, founded by Sam Jamieson, the son of Harry the Hirer founder Rick Jamieson, submitted the application for the boutique block of 10 apartments earlier this year.

Read more:&nbsp;<a href="/news/vic/first-look-exclusive-jmsn-file-plans-for-first-apartment-development-in-fitzroy">First look exclusive: JMSN file plans for first apartment development in Fitzroy</a>

The project, dubbed ns227 at 227 Napier Street, has been designed by Warren and Mahoney and comprises two and three-bedroom sustainable apartments which envelope around an internal courtyard.

The six-storey building is inspired by&nbsp;townhouses seen in Paris and London, which are celebrated for the sustainable merits of their high-density, mid-rise typologies.

JMSN acquired the site in 2022 for $4.5m. Zoned for mixed-use development, the building’s facade extends to the fourth floor without a setback, a planning concession Jamieson says is key to responsible development in the area.

“Fitzroy is a suburb that is densifying and needs to densify, but it can be done in a way that honours the existing neighbourhood and avoids overdevelopment,” Jamieson says.

“With ns227, we are looking to set a new benchmark of what that can look like, taking the learnings from Europe’s mature, urban cities and applying them in a way that is thoughtful and conducive to modern Australian lifestyles — an approach that will underscore all JMSN projects in future.”

Having worked in the family business for 15 years, Jamieson travelled the globe extensively to procure the temporary structures Harry the Hirer is recognised for, including the Victorian Spring Racing Carnival ‘Birdcage’ and marquees for iconic events such as the Australian Grand Prix and the Australian Open.

It was during his travels, particularly in Paris and London, where Jamieson cultivated an appreciation forEuropean architecture and observed that its design principles could be better incorporated into Australian homes.

“The evolution of inner city developments has seen many inspired by Brooklyn-style warehouse conversions, but in Fitzroy, a neighbourhood defined by its Victorian terrace homes, JMSN is exploring influences from Paris and London that better reflect local lifestyles and the aesthetic vernacular of the area,” Jamieson added.

“The brief for our architect was to take the form, flow and materiality of European architecture and add a distinctly modern Australian flair. It was important to pick up cues and best practice, but never about replication.”

European influences are identified in the Juliet windows, which allow for larger living spaces with the versatility of use in summer and winter. Juxtaposing this, a contemporary curved entrance defines the ground floor, while concrete polished lintels offer a modern contrast to the classic textured brick façade.

Warren and Mahoney principal Nick Deans says the sensitive design approach is considerate of the end user and surrounding neighbours.

“This lot is located in a special part of Napier Street and the considered design of ns227 blends seamlessly into a neighbourhood of high-calibre developments,” Deans says.

“The design speaks directly to the Victorian vernacular of Fitzroy and has a feeling of solidity and timelessness about it. It’s a building that is good now and will only get better with age. All of the apartments are unique in layout, offer generous floorplans and delightful finishes, which are sure to create 
welcoming homes for owner-occupiers.”

An internal courtyard filled with greenery, a central water feature and arch windows will orient the residences, providing natural light, amenity and reducing the impact of shadow on neighbouring homes.

On Napier Street, window planter boxes will spill hardy and long-flowering geraniums, while an ivy will fill the facade in a nod to both London homes and the surrounding Fitzroy context.

Warren and Mahoney has delivered multiple residential projects in the area including The Spanish Club by GURNER. Works are slated to begin mid-2024.

The project, dubbed ns227 at 227 Napier Street, has been designed by Warren and Mahoney and comprises two and three-bedroom sustainable apartments which envelope around an internal courtyard

First look: JMSN get sign off for first apartment development on Fitzroy's Napier Street

The headquarters of Icon Construction on Abbotsford's Victoria Street is set for a redevelopment.

EG Funds Management is proposing to demolish the three-level office building at <a href="/new-apartments/675-victoria-street-abbotsford">675 Victoria Street</a> and develop a 13-level mixed-use building with offices and apartments.

There will be 134 apartments, above ground-level office and amenity on the 3,459 sqm site. Over half of the apartments will have two-bedrooms (73), while another 42 will be three-bedders and just 19 one-bedroom apartments are planned.&nbsp;There are 43 different apartment configurations.

<img alt="Victoria St Abbotsford" data-entity-type="file" data-entity-uuid="57124f71-35e4-4919-b4ae-4440da6a3a68" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-04%20at%206.45.03%20am.png?VersionId=WZffpT38SMz9GDsWgGpv5O8_7EXx19n3" />

SJB has designed the building which will be located across the road from the Victoria Gardens Shopping Centre, which too is undergoing a huge redevelopment.&nbsp;

Read more:&nbsp;<a href="/news/vic/richmonds-victoria-shopping-centre-redevelopment-to-create-new-urban-village-with-over-1-600-new-apartments">Richmond's Victoria Shopping Centre redevelopment to create new urban village with over 1,600 new apartments</a>

"The integration of the building's robust architectural forms and features draw upon the Yarra River flow and Dight Falls," SJB noted in the planning application submitted to Yarra Council.

"The project's palette and materiality is driven by the Abbotsford's natural features and built heritage to deepen the connection with the areas rich history.

"The use of warm tones embody the mature gum trees present in the surrounding landscape."

One of the main focuses of the development is how it interacts with the Yarra and the character of <a href="/developments/abbotsford-vic-3067">Abbotsford</a>.

Central part of the development is its provision of a pedestrian link between Victoria Street and the Yarra River corridor. The publicly accessible link provides a visual connection with the Yarra River from Victoria Street and allows convenient and safe access for pedestrians travelling between Victoria Street and the River.

SJB has sculpted the facade around an existing canopy tree.

<img alt="Victoria St Abbotsford" data-entity-type="file" data-entity-uuid="0b950c9e-be4a-4440-9356-c29a12439bb3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-04%20at%206.30.24%20am.png?VersionId=N20PjaQYFvM1JHZzeLB38heuIDoZST08" />

"The existing tree is not treated as an encumbrance but rather is built into the design to provide a distinctive sense of entry to the site and soften the visual connection with Victoria Street," the Town Planning Report by Tract says.

Tract notes that,&nbsp;in contrast to the fine-grain activity centre surrounding Church Street, Lennox Street and North Richmond Station, the eastern extent of Victoria Street exhibits an emerging urban renewal character, featuring many high-density contemporary commercial and residential buildings.

"This built form character is reflective of the subdivision patterns of the commercial and industrial activity that took place along the Yarra River historically, as well as the proximity of this precinct to public transport, open space, and other amenities which makes it suitable for development of the emerging scale."

The building will also incorporate ground-level amenity in the form of a communal lounge, multi-purpose room, gym, two private dining rooms with kitchens, a cinema, and an outdoor terrace which meets landscaped gardens fronting the river.

The proposal includes a partnership with the Little B.I.G Foundation, a charitable organisation set up to tackle loneliness in Australia by developing places, programs and events for social connection.

The Foundation will manage and operate a residential community space located on the river-fronting side of the buildings whch forms part of the residential amnities and provide an events program for residents and the surrounding community.&nbsp;

The community space can also be booked through the Foundation for use by residents an the broader community, with the spce having a strong onnection to the Yarra River Corridor.

The building will be services with 203 parking spaces, 187 for residents and 16 for office use, and 198 bicycle spaces.

The City of Yarra is required to provide 12,800 additional dwellings under Melbourne 2030, in line with population growth forecasts.

"Yarra has become a preferred location for many smaller and medium-sized buisinesses, and this trend is expected to continue," Tract added.

"Yarra's vibrant Major Activity Centres, including Victoria Street, are a powerful economic engine for the municipality. These activity centres are considered a vital part of Yarra's culture."

SJB has designed the building which will be located across the road from the Victoria Gardens Shopping Centre, which too is undergoing a huge redevelopment. 

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