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

New Developments

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Lenland Property Development and Toast Creative have collaborated with thedreamswehave.com to shine a spotlight on the dreams of the people of Alexandria at Teneo, the developer’s latest development in Sydney’s inner-east. 
thedreamswehave.com is a brand-new project by award-winning Australia-based photographer Billy Plummer.
Plummer is world-renowned for his portraiture, shooting the likes of Jean Claude Van Damme, Richard Branson, Tony Abbott and more. 
The launch of thedreamswehave.com coincides with the launch of the Teneo display suite at 13 Ralph Street today to the public, in which more than 50 of the dreams of Alexandria locals will be displayed through striking, human portraits and handwritten messages.
Upon completion in late 2019, <a href="https://www.realestate.com.au/project/teneo-alexandria-600018574" target="_blank">Teneo</a> (below) will feature 61 one, two and three-bedroom apartments across six storeys.
Designed by award-winning architects Architecture Saville Isaacs, Teneo will include several ground-floor terrace-style three-bedroom apartments, CBD views from many upper-level apartments, and two rooftop courtyards atop ‘arms’ extending from the rear of the building.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/7/Teneo.jpg" alt="">
Richard Abbott of RJA Projects - project and development manager at Teneo said the ‘arms’ inspired them to celebrate the aspirational aspects of Teneo and show how future Alexandria residents are reaching for a better life.
“Toast Creative and Lenland Property Group partnered with Billy Plummer to help launch his project and to create some amazing art, capturing the dreams of dozens of locals and passers-by at The Cannery and The Grounds in Alexandria," Abbott said.
It’s a really interesting lens through which to view people. The results are truly spectacular and are now on display for all to see at our display suite. We encourage you to come down and experience this, and our rooftop simulation room, for yourself."
Photographer and founder of thedreamswehave.com Billy Plummer says that looking at a portrait, he was always left thinking there was more there than you could see.
"I had an idea where I would take portraits of people and ask them what they were thinking, specifically what they dreamt of," Plummer said.
"That’s how thedreamswehave.com project came about. It could be a waking dream, like climbing Everest or having children, or it could be something more unconscious and surreal like turning into a marshmallow,” says Billy Plummer, Photographer and Founder of thedreamswehave.com.
“After looking at more than 2,000 dreams, it’s revealing that people generally have the similar dreams around the world, rich or poor, old or young. The photos identify a commonality of reaching for a better life and my project really speaks to that. I genuinely believe that ordinary when examined is absolutely extraordinary. I bring a little of that to everything. I’m really looking forward to capturing more dreams overseas, seeing what this reveals and to watching this project grow."
View some of the <a href="http://www.thedreamswehave.com/" target="_blank">dreams here</a>.<a href="http://www.thedreamswehave.com"> </a>
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jrobinson-rf4aSBido9

Award-winning photographer Billy Plummer launches new global project at Alexandria display suite

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More than $150 million sold at the sales launch of The Harrington Collection in The Rocks on Saturday morning.
But just 36 of the 58 abodes, including one of two $8 million plus penthouses, sold.
Pricing still reflected the boom times, with fewer interested buyers.
Prices started for the <a href="https://www.realestate.com.au/project/the-harrington-collection-the-rocks-600018998" target="_blank">one-bedders from $1.25 million</a>, two-bedders from $2.1 million and three-bedder from $3 million, with spaces ranging from 52 sqm-66 sqm internal for ones, two-bed apartments from 71sqm-100 sqm.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/6/HARRINGTON2.jpg" alt="">
The optimist salesman Ben Stewart told Domain he expected the remaining apartments to sell before the end of the month.
Stewart, a senior director at CBRE Residential Projects, had expected the apartments to appeal to downsizers, city professionals and buyers looking for an inner-city “touchdown pad”.
CBRE's chairman of residential projects in Sydney, Justin Brown has noted there had been "a reduction in investors and foreign purchasers within the market that will affect the ability for developers to achieve pre-sales in the future."
"The off the plan market in 2017 normalised ... we saw purchasers seeking value," he told Fairfax Media.
Selling just half of its 131 apartments on the morning of its launch, Castle Residences ranks among the weakest of CBRE off the plan launches this year.
Sales did include the Castle Residences’ penthouse, which sold for $18 million ($62,000 per square metre) at its 203 Castlereagh Street location.
Golden Age Group bought the leasehold, which sits in the historic Baker's Terraces area, from Arena Office Fund for $50 million in 2014.
<div class="cq-article-content-paras section">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/6/HARRINGTON3.jpg" alt="">
It was a joint development by Golden Age Group and Hannas made up of 49 new apartments, seven town homes and two restored Victorian-era terraces.
The project known as The Harrington Collection will also include commercial office space along with retail.
It will span nine floors to a design by architects FJMT which got instructions from developer Jeff Xu for a smaller boutique development to provide a richer overall experience.
</div>
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j.ballantyne1990-6AQqhLzZaK

Buyer hesitancy over price at The Harrington Collection suggest the Golden Age is over

<html><body>
<div class="cq-article-content-paras section">
The longtime Melbourne apartment developer Michael Yates is seeking to sell his 55 Claremont Street project site after only getting buyers for 20 of the 37 apartments in the planned development.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-502602942" target="_blank">boutique project</a> failed to get traction with buyers, he admitted to Fairfax Media.
"Sales were slow," Mr Yates candidly said. "We didn't reach the required numbers for finance. Building costs have also blown out."
</div>
<div class="cq-article-content-media section">It is reportedly the last site he owns, so he will be stepping out of the apartment industry.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">His desperate sale pitch came with an offer of a shared electric BMW i3 for residents of the 37 apartments, but it wasn't enough to tempt buyers. </div>
<div class="cq-article-content-media section">The unsuccessful marketing campaign came from <a href="https://www.grenade.com.au/55-claremont/" target="_blank">Grenade</a>. It was marketed as the last of its kind to offer panoramic, never-to-be built out views of the Yarra River and Melbourne CBD.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/30/Yates2.jpg" alt=""></div>
<div class="cq-article-content-media section">
Ausin, the company that promotes Australian property to the Chinese foreigners, was engaged to find an overseas demand, that also failed to emerge.
The 50 year veteran, now 73, says he's not leaving development, but he has sub-leased his office.
</div>
<div class="cq-article-content-media section">He hopes to "take it easy for a year or so".</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The Claremont Street site has joined with a neighbouring one owned by cleaning company AES Services boss George Haritos to make the current 969-square-metre site offering.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">It is not just uncertainty about the apartment market - but his age and health - that had prompted him to take a break, noting "all cycles come to an end."</div>
<div class="cq-article-content-paras section">
Mr Yates's son Toby left the business last year after ten years as sales and marketing manager.
On its 2015 launch, construction was due for completion by the end of 2017. When CBRE was engaged to sell the apartment, it was suggesting a late 2018 completion, but again unable to find sufficiently boost buyer numbers.
</div>
<div class="cq-article-content-media section">Now Mark Wizel is selling the entire 49-55 Claremont Street site with its view towards the river and city skyline over the Melbourne High School oval.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">He claims there had been "solid" interest in the "early 30 [million]s" for the site but that the expectations of Yates and Haritos "might be a little north of that".</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Fairfax Media described the site as "spectacularly located" that "some sources are tipping could make way for the city's most exclusive apartment tower."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/30/Yates1.jpg" alt=""></div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">It anticipated a tower of possibly more than 30 storeys.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The site is along from his previously constructed Yarra House. 
</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">
The Michael L Yates &amp; Co. project was set to continue their longstanding relationship with architects Bird de la Coeur and interior designers Hassell.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">On its early 2016 launch The Urban Developer claimed Melbourne’s luxury apartment market was set to strengthen during 2016, driven predominantly by the baby-boomer cohort demanding high quality, spacious apartments in inner city pockets.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Yates, said on launch the past few years had seen the makings of the “boomer-boom”, with his nearby development Yarra House in South Yarra selling more than 70 percent of apartments to owner occupiers in the over-50 bracket.
According to Mr Yates, the baby-boomer demand for Yarra House was a shift from previous projects in the area where at least 40 percent of stock was purchased by investors.
“We have ensured 55 Claremont ticked the boxes for baby-boomers – spacious and flexible floorplans, a boutique development in a prime location and a dress circle view of Melbourne,” he suggested at the time of launch.
Industry observers noted the ignominy of his retreat in 2017 is that the name and the Michael Yates brand was built around the fact that he "lives and breathes South Yarra."
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Known as the Forrest Hill Precinct, it is located between and includes the west side of Chapel Street through to Yarra Street, running north from Toorak Road through to Alexandra Avenue. 
The precinct was brought to the attention of the market in 2005, when a large portion was acquired by Michael L Yates &amp; Co, with its subsequent re-zoning following and development commenced. From the outset, the Precinct had potential for 50 development sites, of which 30 have now been fully developed providing in total around 3000 apartments.
Last year it was suggested 15 sites remained suitable for development, with a potential to produce a further 2,500 apartments. 
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Yates' devotion to the area over four decades resulted in numerous developments that have included award winning projects such as 7 &amp; 9 Yarra Street, 50 Claremont Street, and One Yarra Lane.
Previously Yates was proud of the high-end Georges Apartments on Little Collins Street in the Melbourne CBD.
Earlier in his career, Yates developed office buildings on Collin Street, including 400 Collins St, 414 Collins St and 454 Collins St.
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Michael Yates quits South Yarra apartment site after failing to secure finance

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More than 90 per cent of 118 apartments offered at the Crest complex in Woolooware Bay Town Centre in the Sutherland Shire were sold on Saturday.
Downsizers, young professionals and first-timers were prominent among the buyers.
Even the local NRL coach's family bought into the complex. 
Prices range from about $615,000 for a one-bedroom with a single car park to $1.75 million, for a three-bedroom with two car spaces.
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In 2014 more than $100 million of property, or 177 apartments of the 220 available, saw contracts exchanged at the launch of Woolooware Bay town centre and residential community development.
The Sutherland Shire development is on land owned by the Cronulla Sutherland Leagues Club, and is on a 10-hectare site which was billed will have 600 apartments, a Sharks Club and a 17,700 square metre retail and medical centre.
The 2014 launch also saw first home buyers, young families, downsizers and retirees purchasing - with 95% local buyers.
Prices ranged from $450,000 for one-bedroom apartments, $575,000 for two-bedroom apartments and from $860,000 for three-bedroom apartments.
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Crest sees Woolooware Bay apartment sales continue

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Coronation Property’s latest boutique, residential tower in the leafy suburb of Harris Park – Parramatta’s cultural answer to Surry Hills - is set to deliver an unprecedented, bespoke lifestyle offering to the market with affordability at its very heart, with apartments starting at just $475,000.
The opportunity to live in a boutique, architecturally designed, unique building in a prominent corner of Harris Park well serviced by public transport – Charlie Parker is just 500m from Parramatta Train Station and 650m from Harris Park – is expected to resonate very strongly with first home buyers.
Comprising just 111 apartments, Charlie Parker will span 22 storeys and will include an open-air pool and gym on the terrace level.
Designed by award winning Francis-Jones Morehen Thorp (fjmt) architects, who were inspired by the curves of the art-deco period, the development will also be easily distinguished by the quirky imaginings of contemporary public artists Gillie &amp; Marc, whom were commissioned to create bespoke artworks including the very ‘character’ of Charlie Parker himself.
Charlie Parker – aptly named by the two streets it is positioned on – Charles &amp; Parkes Streets, will also incorporate a high-end, resident’s lounge, open-air pool, fully equipped gymnasium and relaxation area of which will have various curated artworks on display.
Director of Urban Transformation for Coronation Property, Mr Aras Labutis, said the project’s concept and the bespoke artistry that will embody it, is something that is best experienced first-hand at the Charlie Parker gallery and display apartment currently taking shape and due to open 4th November 2017.
Other design collaborations announced for Charlie Parker include Durie Design – headed by international, award-winning landscape designer Jamie Durie, which Coronation Property has partnered with on two prior developments to develop extraordinary landscaped areas, including nearby 8 Phillip Street in Parramatta and The Paper Mill precinct in Liverpool.
Mr Labutis said Charlie Parker will open up the opportunity for those working in Sydney’s second largest CBD of Parramatta to purchase a home within walking distance of the city, without some of the associated downsides of living right within it, and at a palatable price point.
“Situated so close to both Parramatta and Harris Park train stations and just a few minutes from Western Sydney University, Parramatta Westfield and Parramatta River, Charlie Parker is big on lifestyle, with unrivalled convenience and connectivity,” he said.
Coronation Property has a long history of investing in the future of western Sydney, with its The Paper Mill development in Liverpool leading the way for riverside living in the area and 8 Phillip Street in Parramatta – launched last year, also paving the way for intelligent, luxury design that is still obtainable.
Prices for apartments at Charlie Parker start from $475,000 for a one bedroom suite, $567,000 for a one bedroom residence, $785,000 for a two bedroom and $898,000 for three bedrooms, with two four bedroom penthouses also available, with price on application.
For more information <a href="https://coronation.com.au/projects/harris-park/" target="_blank">click here</a>.
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Charlie Parker set to invigorate the ‘Surry Hills’ of the west 

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A new display suite has been opened at The Uptown, a Roseville development set for late 2017 completion.
The Uptown's progressive tech-smart features in the display suite, including remote control lighting and home entertainment, plus Samsung digital fingerprint security and video intercoms.
Stage one purchasers are already moving into The Uptown, which is expected to be fully occupied by November.
10 apartments are currently up for sale.
The joint venture by CWG Development and Longton Capital comprises 220 apartments across six buildings, designed by MD+A Architects and with interiors by Archer + Wright.
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The one bedroom plus study apartments are available from $860,000, and two bedrooms start from $1.21 million.
The 140 sqm three bedroom apartment has 104 sqm of internal space and 36 sqm balcony.
The Uptown is set among gardens designed by 360 Degrees Landscape Architects.
Longton Capital executive director Winnie Pi says buyers have recognised the commitment to quality at The Uptown, and key collaborations with leading designers have helped the project stand out in a crowded marketplace.
“The Uptown’s display suite will be dressed by Coco Republic, who are renowned for their luxurious furniture and design skills, while we’ve also been honoured to work with the visionaries from 360 Degrees Landscape Architects, who will give The Uptown a true ‘green’ feel,” she said.
Joy Simonsen, Senior Interior Designer at Coco Republic, says the stylish modern design of The Uptown provided inspiration for how the display suite was furnished.
“The design inspiration for the display suite came from the style and warm tones of the timber flooring, tiles and cabinetry, and we played off these elements by selecting rich shades of charcoal, aubergine and bronze in luxury velvets and linen fabrics for the furniture, rug and accent cushions."
“The addition of brass accessories added to the luxurious palette, and we made sure to choose furniture pieces which were modern yet classic, in keeping with the luxury market.”
To visit the website, <a href="https://theuptown.com.au/goldencollection/" target="_blank">click here</a>.
 
 
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The Uptown display suite in Roseville showcases design collaborations

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YarraBend, a new Melbourne suburb being developed by Glenvill, will soon witness a luxury apartment project come up which has been designed by architects DKO.
Parkview Apartments in Melbourne’s Alphington will comprise 120 units in configurations of one, two and three bedrooms, starting from $455,000. 
According to the description, Parkview will be the first apartment project within YarraBend and one of the first to be designed in line with Victoria’s Better Apartments Design Standards, ensuring liveable and sustainable designs are prioritised throughout the space.
Conceived by DKO, the apartments are designed to complement their natural environment, nearby parklands and the Yarra River.
The design brief by YarraBend for the entire site is to help create an urban renewal development of international standard, equal to New York’s Meat Packing District and London’s Canary Wharf with a considered and future-proof design that appealed to a discerning taste.
DKO’s design considers the historic buildings on the site, whilst creating a contemporary space with minimalist interiors.
“The design of the apartments provide space for landscaped gardens on the ground floor and generous balconies for units above, which take advantage of spectacular views to the river, surrounding parks and the city,” said Koos de Keijzer, principal at DKO Architecture.
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The 120 apartments are available in one, two and three bedrooms, starting from $455,000.
YarraBend says it has doubled its three-bedroom offering in response to market demand.
Each unit features high ceilings, large, double glazed windows and balcony with views.
There is also smart-wired lighting for select apartments and Miele appliances.
Communal amenities include a rooftop terrace with pool and heated spa, residents’ lounge with fireplace, a wine cellar and a resident gym.
A shopping centre is planned next to the development. 
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YarraBend’s creative director Len Warson said the project would set new benchmarks in design and urban liveability.
“YarraBend will be a new Northern gateway opening up a huge parcel of riverfront land that was previously industrial and inaccessible,” Warson said.
“We are creating incredible world-class amenities such as a health and wellness centre and cutting-edge gym equipment with cloud based fitness training.”
“A YarraBend app connecting the residents to a variety of conveniences such as a tech concierge (a Glenvill innovation).” says Warson.
For more information, <a href="https://www.yarrabend.com.au" target="_blank">click here</a>.
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YarraBend gears up for luxury apartment project designed by DKO 

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Deicorp’s $400 plus million apartment development, Highline Westmead, promises to deliver more than 550 apartments as part of Western Sydney’s transformation. 
Inspired by New York’s urban masterpiece, Highline will comprise 556 apartments spread over five, 7-23 storey buildings.
The apartments are a mix of studios, one, two and three-bedroom apartments.
Approval for the first half of the project at <a href="https://deicorpproperty.com.au/property/westmead/" target="_blank">151 Hawkesbury Road</a> came recently. 
Stage 1 is expected to be complete by late 2019.
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Designed by well-known architects Turner Studio, the development will feature a swimming pool, sun decks, BBQ pavilions and communal green spaces. There is also a rooftop garden.
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Many of the units are under $650,000, and will suit both first homebuyers and investors.
“Westmead is critical to Western Sydney’s continued economic transformation, and is expected to generate up to 50,000 new knowledge jobs by 2036,” according to the Deloitte Access Economics report, Westmead Innovation District: Building Western Sydney’s jobs engine.
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With over $5.8 billion to be invested over the next decade, Westmead is also poised to be Australia’s fastest growing economy. Westmead has $1 billion expansion plans for local universities and an upcoming $900 million hospital redevelopment.
It is near Westmead Train station and will be close to the planned light rail stop. There’s plenty of shopping nearby. 
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Deicorp's $400 million Highline Westmead part of Western Sydney's transformation 

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Development Victoria’s latest residential development, the Rothelowman-designed CIRQ Point Cook townhouse project, has achieved more than 50 per cent sales, with nearly three quarters going to local buyers.
Development Victoria fast-tracked the release of the second collection of homes after the launch of stage one attracted strong interest. 
In its first weekend more than $11.5 million worth of homes sold in May. 
CIRQ Point Cook Stage Two featured 14 two and three-bedroom townhouses. 
Development Victoria’s general manager Development and Construction, Peter Southwell said the response to the project had been extremely strong. 
Southwell said the success of the project was a result of bringing the right type of products to the market at the right time, and ensuring easy access to the town centre and neighbouring wetlands. 
“Development Victoria has been involved in developing Point Cook since 1998,” he said. 
“We have facilitated the delivery of a range of different housing types that meet the needs of individuals and families, and improve affordability.” 
Paul Ciprian, director of Oliver Hume which is marketing the project, said the sales rush reinforced the demand for high quality architectural designs that combine proximity to amenity, livability, innovative design and light-filled spaces framing views to nature. 
“CIRQ residents will have access to Point Cook’s main retail and commercial centre, library, cycle paths, kindergarten and community centre, along with four schools and colleges and three childcare/early learning centres, which are all located within a few minutes’ walk of these great new homes,” Ciprian said.
Many locals have purchased with the view to downsize from an established home in Point Cook, the most popular dwellings being the townhouses fronting the park, which feature large windows and terraces out toward the wetlands and park.
The first release forms part of 104 new homes in the first medium-density housing project for Development Victoria, which launched in April 2017 as the Victorian Government’s new agency responsible for urban renewal and development and civic projects, following the merge of Places Victoria and Major Projects Victoria. 
CIRQ is located on the corner of Lawler Street and Murnong Street, Point Cook VIC, and the display suite is open daily from 11am-5pm 
CIRQ Point Cook features two, three and four bedroom townhouses, designed by architects Rothelowman.
CIRQ has also recently achieved the Silver Standard of Livable Housing Australia Guidelines certification.
The Silver Standard assesses developments on a range of performance levels and design standards, including accessibility and adaptability.
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A number of home designs at CIRQ meet these performance standards through its inclusion of appropriate front door width specifications, ground floor toilets, and bathroom designs that support long-term occupancy.
“Achieving Silver Standard certification for Point Cook highlights the quality and contemporary design standard of the homes on offer,” Mr Southwell said.
“The certification addresses important factors such as accessibility to help residents stay in these new homes in the long-term.” 
The CIRQ development is the first medium-density housing project for Development Victoria, which launched in April 2017 as the Victorian Government’s new agency responsible for urban renewal, property development and civic projects.For more information, visit <a href="http://cirq.com.au" target="_blank">cirq.com.au</a>.
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New homes in CIRQ Point Cook selling to local buyers

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Retirement industry player Andrew Philip's RCA Villages has emerged as the $16.26 million buyer of the former Ingham's hatchery at Mount Martha.
Ingham Enterprise's holding at <a href="https://www.realcommercial.com.au/property-land+development-vic-mount+martha-502354054" target="_blank">646 Nepean Highway</a> was 4.5 hectares.
It was offered in May to developers after TPG paid the Ingham family $880 million for its then-94-year old poultry business in 2013.
The parcel is close to Mount Martha beach, located about a kilometre away.
Around one in three chickens sold in Australia is produced by Inghams – which was established in 1918 in Casula, New South Wales.
The selling agent was David Minty of CBRE. 
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