Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Joel Robinson

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

New Developments

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A Strathfield development from Lumex Property Group will bring 57 new apartments to the inner west and expects to be launched later this month.
The development, called <a href="https://www.centricstrathfield.com.au" target="_blank">Centric</a>, includes one-bedroom, one-bedroom plus study and two-bedroom apartments, the majority of which have a northerly aspect. They are priced from $629,000, from $685,000 and from $780,000 respectively.
Architects and designers SJB have been behind the project and it is noted that they’ve been created for the owner-occupier market.
A rooftop terrace offers views to the CBD skyline and Harbour Bridge. The ground floor includes an atrium lobby and secure parking. There will also be a commercial space on ground level, with the apartments spanning over another eight levels.
The public launch will be on 19 July, with the display suite now open.
Construction completion is expected mid-2016. They are being sold through CBRE.
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jduke-EHk3XBmHkn

Centric Strathfield to be launched, with 57 inner west apartments

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The interest in gyms and more active lifestyles has been emerging for many years and it’s unsurprising to see developers get in on the action. However, they’re increasingly offering stunning gyms with views.
We’ve gone through some of the most stunning developments to select six that have high-level gyms, or rooftop gyms, that any exercise aficionado would be happy to workout in (although perhaps not walk up all the stairs to) to bring you this list of six.
<img src="/images/2014/07/04/yellow-one.jpg" alt=""> <img src="/images/stories/2013/12/04/Ho-Bee-tower---artists-impression-cropped-one.jpg" alt="Ho-Bee-tower---artists-impression-cropped-one"> 
The first is <a href="/expert-insights/buying/overseas-investors-to-tap-into-surfers-paradises-first-highrise-in-five-years">Rhapsody</a> (pictured above), positioned between Surfers Paradise and Main Beach, from Singapore-based developer Ho Bee Land.
<ul>
<li>Total number of apartments: 223</li>
<li>Level of gym: 27th floor</li>
<li>Total levels: 41 levels</li>
<li>Prices: From $280,000 for a studio apartment up to $867,000 for two-bedroom apartments</li>
</ul>
It’s a $120 million development with rooftop gardens, and they decided to include a residents lounge, gymnasium and terrace on the 27th floor (pictured below). The rooftop will have ocean and city views, a barbecue and food preparation area, herb and vegetable garden and fruit treas.
On the 27th level, it will include teppanyaki barbecues, private dining, a function room, an executive meeting room, and a fully-equipped gym with ocean views.
A pool, spa and sauna are also available elsewhere within the development.
<img src="/images/2014/07/07/4.%20Rooftop%20garden.jpg" alt="">
<img src="/images/2014/07/07/3.%20Level%2027%20gymnasium.jpg" alt="">
<img src="/images/2014/07/04/yellow-two.jpg" alt="">
<img src="/images/2014/07/07/south%20yarra%20july%207%20one.jpg" alt="">
The second is South Yarra’s <a href="/expert-insights/buying/meet-and-greet-in-south-yarra-with-yarra-houses-architect-neil-de-la-coeur">Yarra House</a> (pictured above). The boutique apartment development on 18 Yarra Street comes from Michael L Yates &amp; Co, Red C, HASSELL and Bird de la Coeur Architects.
<ul>
<li>Total number of apartments: 114</li>
<li>Level of gym: Rooftop (level 26)</li>
<li>Total levels: 25 levels</li>
<li>Prices: One bedroom from $495,000, two bedroom from $580,000, three bedroom from $1,595,000</li>
</ul>
The rooftop gym is “members only” and includes a 15-metre lap pool, yoga space and landscaped garden. It has views of Melbourne High School, the city skyline and the Royal Botanic Gardens.
It also includes a bathroom and shower, a barbecue area and a dining area (floor plan below). <img src="/images/2014/07/07/south%20yarra%20july%207%20floor%20plan.jpg" alt="">
<img src="/images/2014/07/04/yellow-three.jpg" alt="">
<img src="/images/2014/07/07/north%20sydney%20july%207%20one.jpg" alt=""> Our third is North Sydney’s <a href="https://www.138walker.com.au/%20" target="_blank">Belvedere</a> by Winten Property Group, a $140 million project on 138 Walker Street (pictured above).
<ul>
<li>Total number of apartments: 195</li>
<li>Level of gym: Rooftop</li>
<li>Total levels: 22 levels</li>
<li>Prices: Studios from $375,000, one bedroom from $400,000, one-bedroom plus study from $490,000</li>
</ul>
Belvedere has <a href="/expert-insights/building/rooftop-pools-make-a-splash-as-developers-bring-penthouse-amenities-to-the-people">a 12.5 metre lap pool</a>, gym and relaxation areas on the rooftop terrace. It has harbour views.
The roof area also includes a sundeck and barbecue facilities. Photos available (below) show a running machine, an elliptical and a number of other smaller pieces of equipment inside a room on the rooftop.
<img src="/images/2014/07/07/north%20sydney%20july%207%20two.jpg" alt="">
<img src="/images/2014/07/07/north%20sydney%20july%207%20three.jpg" alt="">
Article continues on next page. Please click below.
<hr class="system-pagebreak">
<img src="/images/2014/07/04/yellow-four.jpg" alt="">
<img src="/images/2014/04/16/7.jpg" alt="Skye by Crown construction commences">
Another offering in North Sydney, Skye by Crown at 211-223 Pacific Highway, designed by Koichi Takada is a $200 million creation with another stunning gym option.
<ul>
<li>Total number of apartments: 242</li>
<li>Level of gym: Top floor</li>
<li>Total levels: 20 storey</li>
<li>Prices: From $499,000 to $2 million plus</li>
</ul>
One of the stand outs on the list, it includes a top-floor gym and <a href="/expert-insights/buying/skye-by-crown-construction-commences">an infinity edge rooftop pool with views over the North Sydney area</a> (pictured above). Sales appear to have done very well at this development.
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0005_6.jpg.jpg">
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0007_8.jpg.jpg">
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0010_11.jpg.jpg">
<img src="/images/2014/07/04/yellow-five.jpg" alt="">
<img src="/images/2014/03/17/portside-wharf-march-17-breakout.jpg" alt="Construction commences on Brisbane waterfront Portside Wharf’s Pinnacle">
The fifth on the list is <a href="/expert-insights/buying/construction-commences-on-brisbane-waterfront-portside-wharf-s-pinnacle">Queensland’s Portside Wharf development Pinnacle</a> (pictured above).
<ul>
<li>Total number of apartments: 162</li>
<li>Level of gym: Rooftop</li>
<li>Total levels: 16</li>
<li>Prices: $390,000 to $2.4 million</li>
</ul>
Pinnacle will have a rooftop terrace with an infinity edge pool, BBQ, gym, entertainment area and onsite guards and management. It has river and city views (pictured below).
Click to open in new window:
<a href="/images/2014/03/17/portside-wharf-march-17-big.jpg" target="_blank"><img src="/images/2014/03/17/portside-wharf-march-17-big.jpg"></a>
<img src="/images/2014/07/04/yellow-six.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20one.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20two.jpg" alt=""> <a href="https://platinumtower.com.au/" target="_blank">Platinum Tower, in Melbourne’s Southbank</a> (pictured above), is from Salvo Property Group and includes the highest of all the gyms.
<ul>
<li>Total number of apartments: 435</li>
<li>Level of gym: 52nd floor</li>
<li>Total levels: 53 levels</li>
<li>Prices: Two bedroom from $438,000, three bedroom from $785,000, four bedroom from $1.3 million</li>
</ul>
The entire 52nd floor is for leisure and health, and includes not only the highest pool in Melbourne, but a sauna, gym and floor-to-ceiling windows on three sides (pictured below).
<img src="/images/2014/07/07/melbourne%20july%207%20three.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20four.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20five.jpg" alt="">
 
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Developments look to high-level gyms: Six stunning workout views

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Mirvac sold all 85 apartments when its launched its fourth Harold Park precinct, known as Altivolo over the weekend.
Construction of <a href="https://haroldparkbymirvac.com/altivolo" target="_blank">Altivolo</a> is expected to begin this year with a 2016 completion at the inner-Sydney Glebe project which is due to see its first precinct, Locarno opened at the end of this month.
Altivolo won the first race under lights at the Harold Park Paceway in October 1949.
Altivolo, bred by Edgar Tatlow in Tasmania for Harry Williams, was by a champion sire, Raider, from a Grattan Loyal mare named Attain.  
Altivolo will be positioned at the gateway to the Harold Park development. The building rises three storeys from street level shaped around a central courtyard.
Studios (40 square metres) were priced from $550,000, one-beds (48-56 square metres) from $615,000, two-beds (75-104 square metres) from $870,000 and three-beds (120-127 square metres) from $1,395,000.
Sales now total 900 across the various buildings on the former Harold Park race course.
Mirvac chief executive, residential, John Carfi told the Australian Financial Review that despite lot of competition in the market right now, the demand for Harold Park has not let up since the day it launched the first precinct in 2011.
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jchancellor-FAypfDUnLy

Harold Park Altivolo launch sellout as Mirvac trots to 900 sales

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A new shopping centre in Golden Grove is set to be completed in March 2015, providing an early opportunity for retailers.
Called The Stables Shopping Centre, the anchor tenant is a 3,884 square metre Woolworths supermarket, and there will be 15 speciality shops, including two kiosks, and 260 car parking spaces.
Located on the corner site at Golden Grove and Crouch Roads, it will cover 1,600 square metres of speciality shops. A Chemmart pharmacy has committed to the centre, and the other tenants are expected to be fresh food stores, take away outlets and retail services.
Knight Frank retail leasing executive Russell Iles is currently pre-leasing the centre, noting that it will provide employment opportunities for local residents and is near growing new residential estates.
“There has been strong interest with the Woolworths anchor tenancy secured, as well as national retailer Chemmart,” said Iles.
He noted that the stores and kiosks range from 40 square metres to 135 square metres.
“Since the commencement of construction, there has been strong interest from both local and national franchise chains for establishing a presence in this growing area that are looking for franchisees to take on the new stores. The centre will suit tenants ranging from fresh food and takeaway outlets through to retail services,” he said.
The shopping centre is some time in the making, with Adelaide Now reporting last year that the plans had been approved – some eight years after they were first announced. They note that childcare and a medical centre are also expected for the site.
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Golden Grove, Adelaide’s new retail precinct due for 2015 completion

Subtle marketing but Opal Tower not expected to see bad luck

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Hindmarsh, a national property development company, has launched Zest, a Brisbane project in the Kelvin Grove Urban Village precinct that will bring 144 apartments to market.
Each apartment will have either an outdoor courtyard or a balcony with a 600 square metre rooftop terrace and views to the city. The <a href="https://zestkelvingrove.com.au/" target="_blank">Zest development</a> spans over 15 levels and is designed by NettleTribe. Twelve of the levels will be residential.
The 60 one-bedroom apartments are priced from $320,000, with 84 two-bedroom apartments from $375,000.
This comes as the cheaper option to CS Developments’ Kelvin Grove offering, Victoria Park Residences, with <a href="/news/kelvin-grove-to-welcome-cs-developments-third-project-victoria-park-residences">one-bedroom apartments from $343,000 and two-bedroom apartments from $469,000</a> – however, they are notably larger offerings.
A rooftop terrace will also be built in Zest including a seating area, BBQ facilities and an open-air pool.
Kelvin Grove’s Evoque development was <a href="/news/qld/no-gym-and-no-pool-a-selling-point-for-kelvin-grove-s-evoque">using the fact they had “no pool” as a selling point in February</a>.
Hindmarsh Queensland development manager Bill McClanachan said that the project includes glass balustrades and textured pre-cast panels.
“Zest has been designed to offer a modern, easy and convenient inner city lifestyle,” said McClanachan. 
“We have already received more than 60 expressions of interest from both investors and owner occupiers so the value and design appeal of Zest is evident,” he said.
It will include one and two bedroom apartments ranging from 50 to 82 square metres internally.
“Landscaping and a street-side park at the base of the building will create a restful fringe of green and enhance the outlook from the upper level balconies and podium-level apartment courtyards,” he said.
The apartments have been designed with the aim of keeping body corporate power bills lower, using sunshading, fresh air flows, thermal massing and glazing, with each apartment serviced by individually-metered gas hot water.
“Quality carpets throughout the bedrooms combine with the generous living and dining areas to give a feeling of comfort, while the expansive windows and glass doors to the balconies drench the rooms in natural light. When night falls, feature LED lighting in kitchens and bathrooms adds an energy-efficient touch of style,” he explained.
 All the apartments are cabled for wireless broadband, Pay TV, free to air HD digital TV, regular telephones and include TV, data and phone points installed to both living areas and the main bedroom.
It includes two levels of retail and commercial space, as well as a suspended level of parking and two basement levels.
The project launches on 5 July. It will be on the corner of Musk Avenue and Carraway Street.
According to the project’s marketing, Zest has the potential for “long-term capital gain” with prices outstripping the Brisbane average previously.
In Kelvin Grove, a notable 60% of the population rent, median rental yields throughout 2013 sat at 4.24% and rents increased by a median of 3.15% in the past 12 months. According to RP Data, the <a href="/news">median unit price in Kelvin Grove</a> is $499,475, with median advertised weekly rent of $450.
Correction: The photo accompanying this article has been updated since publication. The initial photo featured another development project in the same suburb.
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National developer launches 144-apartment Zest in Brisbane

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Last week a New York real estate listing started making the rounds on Twitter creating a great deal of debate.
The author tweeted: “New barrier breached in NYC real estate? The US$1 million STUDIO.” The New York based broker had listed a 532 square feet (49.4 square metre) studio for almost US$1.1 million (AUD$1.172). What’s more, the particular studio was described in a somewhat down-beat way as “not even in a coveted block!”
The Twitter activity started a conversation about how realistic this claimed ‘record’ was and for my part, back in Australia, and for Sydney in particular, I also find myself asking if the $1 million price benchmark needs to be updated, specifically when it comes to apartment values.
Back to New York for a minute. In reality the listing was not “a new barrier breached” for the city. It’s not even the most expensive studio listed because right now there’s a range of studios from 400 square feet at US$1.05 million to an eye watering US$1.8 million (which last sold in 2009 for US$925,000) for just 689 square feet that’s 64 square metres which is a much more familiar size and price for a quality well-designed one bedroom unit or for some two bedroom units here.
Recently, in just a few hours, Colliers International <a href="/expert-insights/buying/bondi-junction-aqua-off-the-plan-sellout-leaves-buyers-scrambling-to-secure-apartments">sold out Aqua at Bondi Junction</a> where 66 of the 129 apartments were sold for an average of $1,000,000 plus.
Today Sydney has around 170 suburbs with a median house price of $1 million. In fact, one in five Sydney suburbs is a $1 million plus area, which underlies the city wide trend, but this also argues the case for another benchmark to be used to gauge evolving values.
It’s also estimated that half of Sydney’s home owners will find themselves ‘millionaires’ by 2020, by virtue of the fact that an estimated 625,000 houses across the metropolitan area will have a value of more than $1 million, when twenty years ago, we weren’t even at $200,000.
Prices, even for some prime one bedroom apartments are now, as the Bondi Junction example shows, long past the $1 million price point. At Sydney’s Barangaroo that price has been achieved for an off the plan one bedroom apartment with parking at around 60 square meters, ($16,600 per square metre). While at just below this price a 60 square metres one bedroom apartment on level 36 at The Cove, on Harrington Street The Rocks could today be purchased at $950,000, ($15,833 per square metre).
Many if not most buyers are now very comfortable with per square metre rates being used to underpin process. And for apartments, that might be a much better city-wide guide than the $1 million sale price measure.
The use of a rate per square metre I think better reflects the location, quality and facilities of individual apartments and also gives a more accurate reflection of the total project. We also need to try and more fully factor in the big leap forward in quality and design that apartments in 2014 now deliver. There has been a massive increase in quality, finishes and design and we also need to better reflect location and building facilities and there is sound reason to suggest that a rate per sqm benchmark would do this.
Otherwise like the New York example demonstrates, the raw price can give a flawed or even misleading impression.
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pchittenden-eLqUUC8TWW

The $1 million apartment yardstick is no longer relevant

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Country Garden Australia secured 296 sales today when the Ryde Garden development went on sale.
The six hour purchasing spree for the project in Sydney’s North Ryde secured around $186 million in sales.
Buyers secured one, two and three bedroom apartments starting at $488,000. The two bedders were priced from $688,000, and three bedroom apartments priced from $888,000.
There were five sales of the project’s three bedroom sky-homes, boasting views across Sydney, for between $1.3 million and $1.7 million.
"These sales were a record for the area," agents advised. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank" style="line-height: 1.3em;">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
JLL and CPM said that the results had exceeded expectations. 
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, over three buildings on a site 50 metres from North Ryde train station. There will be a 2,100 square metre central park. Each tower is set to have its own rooftop garden.
The Hong Kong-listed development company, Country Garden bought their first Australian development site in late 2013 at North Ryde.
Wanting to become a major developer in Australia for the long term, the group has a preference for suburban sites which could sustain large garden areas.
“Up to 20% of the buyers were former Country Garden customers,” the company’s general manager, sales and marketing, Nicholas Hum, told the Australian Financial Review.
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Strong off the plan sales at Country Garden's Ryde Garden project

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With 80% of the apartments already sold, Bowen Hills-located 228-apartment development Belise will soon see a tower crane on the site.
The $120 million<a href="https://www.belise.com.au/" target="_blank"> Belise project</a> has completion expectations for March 2016, and remaining in the development are one-bedroom plus study apartments, and two-bedroom apartments. Prices start from $477,000. Initially, there were one, two and three bedroom apartments, with prices from $405,000.
They have been advertised as "cash flow positive investments" from "year one". This would be for the after-tax outcome for a one-bedroom plus study with a 90% lend for assumed household income buyer of $80,000 to $180,000, at a $471,000 purchase price.
Breaking this down for a one-bedroom plus study shows that to get a substantial after tax cash flow, you would be renting it out furnished ($15,000 packages are available from the developer) or the positive cash flow is $1.63 per week after tax in year one. Adding the furniture package alters the numbers by slightly increasing the rent and providing more depreciation deductions. Interestingly, repairs and maintenance are kept equal for both equations. They make 5% annual capital growth rate assumptions. Body corporate is expected at $3,650 for year one and property management is estimated at 8% plus GST. You can see <a href="https://www.belise.com.au/assets/PIA/1-bed-+-Study.pdf" target="_blank">the full break down here</a>. A furnished apartment is projected as bringing in an after-tax positive cash flow of $84.20, according to their equations.
It was <a href="/news/a-lengthy-start-sees-constructions-begin-on-brisbane-belise-development">a slow start for the project, having launched in October 2010</a>, but in November 2013 was seeing traction.
RCQ Construction has been appointed to build the development, which is the creation of Reed Property Group and Group Kildey.
Reed Property Group managing director Ken Reed said that the area is high-yielding and experiencing a “boom in development unlike anything this precinct has seen before”.
“There is an undersupply of high grade property in Brisbane’s inner city suburbs and an oversupply of buyers demanding quality, which makes Belise the high-growth property investment that it is,” said Reed.
“Belise meets key investment criteria for both owner occupiers and investors offering close proximity to the CBD, the soon-to-be-opened Legacy Way Tunnel eastern connection, public transport, retail and entertainment options, parks, walkways and bike paths, and educational facilities,” he said.
The <a href="/developments/bowen-hills-qld-4006">median unit price in Bowen Hills</a> is currently $407,000, according to RP Data, with a $420 median advertised weekly rental price.
Group Kildey director Graham Kildey said that they wanted a five-star hotel feel and facilities.
It comes with a café, bar, recreation deck with heated pool, spa and sauna, a fully equipped gym and a sunset lounge on level 21.
“The layout of the apartments is open plan to create airflow and to award river or city views wherever possible,” said Kildey.  
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Brisbane’s "cash flow positive" Belise 80% sold after slow start

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I had learnt a little about suburb lifecycles recently  - how a suburb can change over time.
Generally speaking new areas usually attract young couples and families, but also some mature aged people like grandparents wanting to be close to their grandkids and who can help support and care. So it's important that new areas do have a mix of housing available. 
I've recently been researching a new location after finding a good dual occupancy development site there. 
In the past, I have put this suburb aside as the land was expensive and generally lot sizes smaller, however a large enough site came up and as I ran the figures on it, my heart beat increased!
This suburb was experiencing fast growth due to new land estates opening  and there was a fair amount of land to be released in the location. Because of this, the government had allocated money for community services, facilities and infrastructure.
The suburb is also very well located being only 20 minute drive into Newcastle CBD.  In the new estates, it was predominately large four or five bedroom family homes being built and even though the land was expensive reflecting the facilities of the master planned estate, after some research I could see the opportunity for good demand for smaller dwellings.
The area was popular with families building new homes and wanting to be close to good quality schools - there is a well regarded primary and high school within walking distance. Parents could work in Newcastle and be home early for the family.
The estate offers a bushland location with beautiful views over wetlands, quality sporting fields, a community centre and a new shopping village had popped up within five minutes with a shiny new Coles open and Aldi store under construction.
The M1 freeway access to Sydney is just a few minutes drive away. This estate was well placed location wise and also for future growth.
For me, building three bedroom villas in a location that is dominated by four or five bedroom houses makes a lot of sense. There would be several markets for these villas on completion; young people who can't yet afford to build the larger homes, separated people looking for smaller dwellings, single parents and empty nesters looking to downsize. I think if the location and facilities are good, a lower entry point for rent and sale prices - can be a good differentiation for your development.
Also sales of the larger, more expensive dwellings could impact positively on the values of smaller dwellings if there are no direct comparable sales.  There could be good demand from renters wanting all the benefits of the estate for a smaller outlay.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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