Developer <a href="https://www.apartments.com.au/developers/shenfield-property">Shenfield Property</a> will commence construction this summer on Banksia, its boutique apartment project in the heart of Cheltenham Village.

Designed by <a href="https://www.apartments.com.au/architects/roger-brayshaw-architects">Brayshaw Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/aldona-padjak-interior-design-apid">Aldona Padjak Interior Design</a>, the mixed-use development comprises just 29 one-, two-, and three-bedroom residences positioned above ground-floor retail and dining spaces.

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<a href="https://www.apartments.com.au/new-apartments/banksia-cheltenham-216-226-charman-road-cheltenham-vic-3192">Banksia</a> has been tailored to the Bayside market, with flexible floorplans and a focus on environmentally efficient design. Apartments will feature full-height glazing, soft neutral palettes, and oak timber flooring, while kitchens are appointed with black Smeg appliances, stone finishes, and streamlined joinery.

Energy-efficient systems, integrated heating and cooling, and basement car charging facilities ensure sustainability is embedded in the project.

“Our vision with Banksia is to deliver residences that balance refined style and long-term liveability, while respecting the character of <a href="https://www.apartments.com.au/developments/cheltenham-vic-3192">Cheltenham</a> Village,” a Shenfield spokesperson said.

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The project’s location on the beach side of Charman Road places residents within minutes of Southland Shopping Centre and Cheltenham Station, while the beaches of Mentone, Sandringham and Black Rock are all within a 10-minute drive.

Pricing ranges from $580,000 to $1.325 million. Construction is slated to complete in early 2027.

Shenfield has been a trusted developer for several decades in Melbourne's Bayside. They recently completed <a href="https://www.apartments.com.au/buildings/joes-quarter-mordialloc-557-main-street-mordialloc">Joe's Quarter in Mordialloc</a> and <a href="https://www.apartments.com.au/buildings/omnia-4-6-horscroft-place-moorabbin">Omnia in Moorabbin</a>.

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Urban Editorial

Shenfield to commence construction on Banksia, Cheltenham this summer

As the finishing touches take shape at Delano, <a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong Developments</a> is preparing to welcome its first residents before the end of the year.&nbsp;

Set just 450 metres from the newly opened Crows Nest Metro Station, this elegant low-rise development is poised to offer a lifestyle of both connectivity and character, perfectly timed for those hoping to settle into a new home by Christmas.

Located at 33 Falcon Street, <a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a> comprises 81 residences across three boutique buildings, including a collection of townhomes and one, two, and three-bedroom apartments.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, the project takes inspiration from the Art Deco influences that define the area, interpreted through a contemporary lens and framed by lush gardens.

“Our vision was to fashion a landmark that creates a transition between cosmopolitan Crows Nest village and the adjoining heritage conservation zone,” said Peter Campbell, Managing Director of Lindsay Bennelong.&nbsp;

“We worked closely with the community throughout the planning process to ensure the design respected and enhanced the neighbourhood's character.”

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The architectural response is careful and measured. The central five-storey apartment building steps down to three storeys along Falcon Street, while the townhouses along Hayberry Lane mirror the surrounding residential scale.&nbsp;

Inside, residences are finished with herringbone engineered timber floors,&nbsp;100% wool loop pile&nbsp;carpet, and natural stone benchtops paired with Miele appliances.

Designed for light, air, and longevity, all homes feature cross-ventilation and energy-efficient fittings. The communal areas also integrate sustainability principles, including site-wide water harvesting and natural ventilation in lobbies and corridors.

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Beyond the front door, residents will enjoy a gymnasium, shared electric vehicle, and an expansive communal lawn with barbecue and seating areas.&nbsp;

Leafy views toward Mosman and North Sydney elevate the upper-level residences, while street-level walkability to shops, cafés, and supermarkets reinforces Delano’s village-like convenience.

“Our focus has always been on securing premium sites, so we were excited by the opportunity to reimagine this significant location,” said Campbell. “With the new Crows Nest Metro Station now operational, this sought-after locale is firmly in the spotlight."&nbsp;

“I’m confident that we have collaboratively achieved a place to live poised to become an important part of Crows Nest's rich and diverse architectural fabric.”

[smartcode_project_cta:default project_id=134072]

Joel Robinson

Move in before Christmas: Delano brings boutique living to the heart of Crows Nest

Apartments on Campbell Parade, no matter what size, will always draw significant buyer interest.

That seems to be the view of prominent&nbsp;Eastern Suburbs developer Vaughan Blank, who has submitted plans to add apartments above the heritage-listed&nbsp;Arnott’s Flats building at <a href="https://www.apartments.com.au/new-apartments/32-campbell-parade-bondi-beach-nsw-2026">32 Campbell Parade</a>, toward the southern end of the sand.

The site, toward the southern end of the famous strip, is just over seven metres wide.

Rather than wholesale redevelopment given the heritage-listed status of the current building, the application proposes to retain the building’s Inter-War period façade, considered contributory within the Bondi Beach Heritage Conservation Area, while replacing much of the structure behind with a contemporary residential addition.&nbsp;

The submitted design, prepared by DARC Architecture, seeks to construct four additional storeys above the retained frontage, creating a total of five levels including the ground-floor retail.

The new building will add seven apartments,&nbsp;including a portion designated as affordable housing under the State Environmental Planning Policy (Housing) 2021.&nbsp;

&nbsp;

<img alt="32 Campbell Parade, BONDI BEACH NSW 2026" data-entity-type="file" data-entity-uuid="2adce9ac-88ee-4725-af91-bae55278b514" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/campbell%20da%20pers.png?VersionId=6d5Vwp4dg1PLmngARhRD5vl_ofl7SlQf" />

“The design introduces a cantilevered setback to preserve the prominence of the heritage façade,” DARC wrote in its submission, adding that the upper levels will be "finished in a contemporary yet sympathetic material palette that complements nearby heritage items, including the Astra Hotel and Remola and Cenira Mansions”.

The original structure, known as Arnott’s Flats, was built in the early 1920s and is distinguished by its decorative pediment, Ionic pilasters, and engraved entablature.&nbsp;

The Statement of Heritage Impact prepared by Weir Phillips Heritage supports the partial retention approach, suggesting the development will "ensure the long-term viability and ongoing maintenance of this contributory item, thereby supporting the sustainable preservation of the Bondi Beach HCA”.

Vaughan Blank, a former executive at Glencore, has a penchant for investing and developing in Sydney's east. In 2017 he spent $33 million on a block of Art Deco flats in&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;in 2017, which at the time was highest price paid at auction for a residential property in Australia.

He has extensive holdings in Double Bay, Woollahra, and Tamarama. His development company, STM Realty, also has development sites on Hall Street and O'Brien Street.

&nbsp;

First look: Vaughan Blank plans skinny shoptop on Bondi Beach's Campbell Parade

One of Sydney’s most hotly contested urban landholdings is set for transformation, with <a href="https://www.apartments.com.au/developers/conquest">Conquest Property Group</a> lodging plans to redevelop the former Cyprus Club site in Stanmore into a $900 million mixed-use precinct of apartments and retail.

Dubbed Stanmore Village, the proposal has been submitted to the NSW Government’s Housing Delivery Authority for assessment under its state-significant development pathway. If approved, it would see the 9,140 sqm site, once home to the Cyprus Community of NSW, reimagined with 500 apartments above a new retail and lifestyle destination.

The site was acquired by Conquest for $55 million earlier in 2025 following a highly competitive sales campaign run by Cushman &amp; Wakefield on behalf of EY Parthenon, who were appointed administrators of the former club.

Marketed as one of Inner Sydney’s most significant residential opportunities in years, the property drew substantial interest from domestic and offshore developers, institutional investors, and education and healthcare operators.

<img alt="58-76 Stanmore Rd" data-entity-type="file" data-entity-uuid="8690f4be-8214-4eb4-9857-faf0cb7b336d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/58-76%20Stanmore%20Rd%20-%20aerial%20marked.jpg?VersionId=I_iKzGDILRSTqZu3au07.1aja4uv5rCJ" />

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">FK Architects</a> with planning by Principle Planning, Stanmore Village proposes a mix of one-, two- and three-bedroom apartments situated above what will be known as the Queensbridge Shopping Centre. The retail component will feature a full-line supermarket, specialty stores, a gym, and activated communal spaces across multiple levels.

According to the Urban Design Report, the scheme is framed by a stepped massing strategy that addresses the site’s dual context - fronting the commercial spine of Pacific Highway while responding to the finer grain of Church Lane.

In addition to market housing, the project incorporates a dedicated affordable housing component, located on levels two and three, comprising 10 apartments delivered in accordance with the Housing SEPP 2021. This enables the proposal to qualify for floor space and height bonuses under the state’s planning framework.

Design features include deep soil landscaping, communal rooftop and ground-floor open spaces, a new pedestrian laneway connecting both street frontages, and the adaptive reuse of the existing heritage shopfront building, formerly known as The Cloisters Antique Store.

The project follows the drawn-out administration process of the Cyprus Community of NSW, which entered voluntary administration in 2023. The Supreme Court ultimately permitted the sale without member approval, with creditors to be repaid in full and a significant surplus earmarked for the Community’s future endeavours.

If approved, construction of Stanmore Village could begin in 2026, with completion expected by mid-2028.

Conquest unveils $900m Stanmore Village vision for landmark Inner West site

Brisbane-based developer <a href="https://www.apartments.com.au/developers/gcap-group">GCAP Property</a>&nbsp;has been approved for its high-end new Surfers Paradise tower on Hamilton Avenue.

It will be one of the only towers in Surfers Paradise to offer predominantly full-floor apartments, with just 20 apartments slated for the 18-storey building just 80 metres from the beach.

There will be half-floor apartments, full-floor, four-bedroom apartments spanning 312 sqm, and&nbsp; apartment will span 312 sqm, and&nbsp;a two-level penthouse with its own rooftop pool, cellar, and private wellness features.

&nbsp;

<img alt="GCAP Property secures DA Approval for $100 million Hamilton Avenue project in Surfers Paradise" data-entity-type="file" data-entity-uuid="bd1fefe0-b74c-44f6-aa3b-fafae87d1e00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/GCAP_Hamilton%20Ave_Living.jpg?VersionId=dHNiHqwcrFm6XhxUxDEIkDSFz.5Xyq2a" />

“Securing approval for Hamilton Avenue is an important milestone for us as we bring our experience as both developer and builder to the Gold Coast,” said Adam Philps, Director of GCAP Property.&nbsp;

“We believe if you’re going to create something special, you should assemble the right team and create it with every fibre of knowledge and expertise that we have. This philosophy underpins everything we do.&nbsp;

“With Hamilton Avenue, we’ve challenged the norm of coastal design to deliver homes with space and character, not just views. Working with <a href="https://www.apartments.com.au/architects/dko-architecture">DKO</a> and partnering with a proven builder gives our buyers confidence we’ll follow through.”

Every apartment will capture uninterrupted ocean views, safeguarded by the unique orientation of the site, which sits parallel to the coastline.

<img alt="GCAP Property secures DA Approval for $100 million Hamilton Avenue project in Surfers Paradise" data-entity-type="file" data-entity-uuid="942a4002-100a-4235-acd8-18d6f5f0c76b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/GCAP_Hamilton%20Ave_Lobby.jpg?VersionId=i.4rLPzd2LgEyvqMHGz.cZBB7lNzVLIF" />

Podium-level amenities will centre on wellness and lifestyle. They will include an ocean-facing pool and residents’ lounge, a private dining room, and a fully equipped wellness centre with spa, sauna, steam room, ice bath and treatment spaces.

For GCAP, Hamilton Avenue marks a significant entry into the Gold Coast market after more than two years of collaboration with award-winning architects and interior designers DKO.&nbsp;

Hamilton Avenue’s design deliberately shifts away from the light, white and bright coastal schemes. Instead, its interiors will be inspired by New York and Manhattan style, blended with modern Art Deco, reflected in the finishes and materials such as stone, timber, warm textured surfaces and bronze-toned detailing.&nbsp;

The façade will continue the design story, with strong architectural lines and timeless geometry that deliver a sophisticated point of difference.

<img alt="GCAP Property secures DA Approval for $100 million Hamilton Avenue project in Surfers Paradise" data-entity-type="file" data-entity-uuid="ef82f52b-c4fc-4701-9b74-4853ade11238" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/GCAP_Hamilton%20Ave_Superman.jpg?VersionId=qMvsYMncFnhEqMEhQydIwDMrNT1sv7bq" />

Project marketing will be led by One:PM, with Senior Sales Executive Simon Worthington highlighting the market’s appetite for homes that balance style, location and lifestyle.&nbsp;

“Hamilton Avenue has been designed for buyers who value quality, considered space and architectural character,” said Worthington. &nbsp;

“We’re seeing strong interest from locals, downsizers and interstate buyers who are tired of the generic coastal aesthetic.&nbsp;By drawing on Manhattan style with modern Art Deco influence, Hamilton Avenue brings an international feel that still fits with the locale."

GCAP will partner with prominent Australian builder APGC Group to deliver the project. GCAP’s partnership with APGC brings together two groups with a shared commitment to quality and reliability, ensuring the project is not only design-led but backed by proven delivery capability.

Work is scheduled to commence in the second quarter of 2026, with completion anticipated for mid-2028.&nbsp;

Full-floor apartments set for Surfers Paradise beach precinct

Olympic Park

Marissa Li was the first person to buy an apartment in Mirvac&#39;s Sydney Olympic Park development Pavilions back in 2017.

The 27-year old first home buyer, who was also the first&nbsp;to settle on her apartment in the 35-level Scarlet, the tallest building at Pavilions, was able to secure the apartment with a five per cent deposit through Mirvac&#39;s The Right Start initiative.

Now having moved in, Marissa is paying $100 a week less in mortgage repayments than she was at her rented Wolli Creek apartment. She paid the further five per cent deposit required in instalments over the three years that Pavilions took to build.

When Marissa began looking for her first home three years ago, The Right Start gave her the opportunity to get her foot in the door with a low deposit and ahead of investors. With reassurance from a family member who had bought at Mirvac&rsquo;s Harold Park development, Marissa felt confident about buying off the plan.

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&ldquo;As someone starting out, buying at Pavilions through The Right Start made a lot of sense to me,&rdquo; Marissa said.

&ldquo;I knew it was the only way I could afford to buy and have a few years to save. If I have a set goal I can save towards that, instead of waiting and only saving a bit here and there.&rdquo;

Marissa attended the launch with her mother and aunt and being first in the line was able to secure the cheapest apartment. But she later changed her mind and decided to pay a little extra to have an apartment with a better outlook over the park-like courtyard garden.

Mirvac&rsquo;s General Manager of Residential Development in NSW Toby Long said it is always a special moment to see people like&nbsp;Marissa moving in to their apartments.

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&quot;It&nbsp;makes the efforts of our development and construction teams, to keep working through all the challenges of the past few months, all the more worthwhile,&rdquo; Long said.

&ldquo;It&rsquo;s been a long journey from the nervous excitement on the day we launched Pavilions to now, where we have a beautiful building with apartments designed and built to the quality that people expect from Mirvac. We are incredibly proud of what we have achieved and to see the beginnings of the Pavilions community.&rdquo;

<a href="/news/nsw/what-a-buyer-needs-to-know-about-pavilions-apartments-in-sydney-olympic-park-five-minutes-with-mirvacs-toby-long">Read more:&nbsp;What a buyer needs to know about Pavlions apartments in Sydney Olympic Park: Five minutes with Mirvac&#39;s Toby Long</a>

Marissa has had plenty of time to consider whether she made the right decision to buy and is adamant she has no regrets.

&ldquo;I am 110% pleased that I bought. I guess you always doubt yourself but I&rsquo;m much happier to be paying off a mortgage than dead money in rent.&rdquo;

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Marissa&rsquo;s happiness with her move is not confined to financial concerns but also the ability to live a more sustainable lifestyle.

&ldquo;I try my best but if the development can lead the way, that fits into my lifestyle,&rdquo; Marissa said. &ldquo;The sustainability at Pavilions is very appealing for me. The toilet and laundry use recycled water and the bins are designed so that recyclable waste is separated. I have my Brompton bike and I&rsquo;m thinking about selling my car and just using the car share that is available at Pavilions when I need it.&rdquo;

Pavilions is now completed, with apartments selling from $625,000.

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When Marissa began looking for her first home three years ago, The Right Start gave her the opportunity to get her foot in the door with a low deposit and ahead of investors

Why first home buyer Marissa Li bought an apartment in Pavilions, Mirvac's Sydney Olympic Park development

Mirvac&#39;s Sydney Olympic Park apartment development Pavilions is the reputable ASX-listed developer&#39;s&nbsp;largest ever single stage development.

The&nbsp;four buildings constructed simultaneously using four cranes at one time.

It&#39;s been strategically located in a growth area where billions of dollars are still to be invested, particularly in the transport infrastructure which will see the commute to the Sydney CBD slashed to just 20 minutes.

The apartments have favoured working professionals, well advanced in their careers, Mirvac&#39;s general manager of residential Toby Long told Urban.

Urban recently sat down with Toby to discuss Pavilions.

&nbsp;JR: Why was Sydney Olympic Park chosen as a location for a Mirvac project?

TL: Mirvac has a long history on the Olympic Peninsula. We delivered the Athletes Village for the 2000 Olympics, which we adapted to create the suburb of Newington, developed more than 900 apartments at Rhodes Waterside, and luxury waterfront homes at Cabarita. So, the location and market were familiar territory for Mirvac and ticked all the boxes for good property investment &ndash; location, amenity, public transport, and billions of dollars in infrastructure on the way.

Sydney Olympic Park lies in Sydney&rsquo;s geographic heart, between the CBDs of Parramatta and Sydney, straddling east and west. It also lies within the knowledge corridor where the smart jobs of the future are concentrated and is key to realising the economic and social ambitions for the Greater Parramatta and Olympic Peninsula.

Olympic Park is also quite unique in being a growth area - a young and vibrant suburb that has a lot to offer. Everything you need is already there &ndash; cafes, restaurants, world class leisure and fitness facilities, train station, retail close by and this incredible 430-hectare parkland, right on the doorstep.

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There are billions of dollars still to be invested at Sydney Olympic Park, especially in transport infrastructure, as well as a new high school proposed for nearby Wentworth Point. There will be an Olympic Park station on the Metro West line, with a journey time of just 20 minutes from Parramatta to the Sydney CBD. Light Rail stage 2, connecting Olympic Park to Parramatta is back on the agenda with recent NSW Budget funding to advance planning.

JR: Who did you identify as the buyer demographic when the design was in its early stages, and why this demographic?

TL: The demographic profile at Olympic Park and surrounding suburbs showed that residents are younger and better educated than the NSW average. The dominant age group is 25-34 and 45 per cent of residents have a bachelor degree or higher, twice the NSW average. The population is truly multicultural with around 70 per cent of residents first or second-generation Australians whose parents were born overseas.

Our assumption was that buyers at Pavilions Residences would follow a similar trend and that has been borne out, with a high level of professionals well-advanced on their career journey.

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The buyer profile has differed in one significant respect with a far higher proportion of owner-occupiers than investors. Mirvac tends to attract more owner-occupiers because of our focus on quality and longevity. We do have a good following of investors who know that the price premium for a quality property is recouped in lower maintenance and repair costs, and strong capital gain.

JR: What was the design brief for the towers? And was there a shortlist of &ldquo;must-haves?&rdquo;&nbsp;

TL: Pavilions Residences stands at the gateway to Sydney Olympic Park, therefore a strong architectural statement was called for. Equally important was creating a connection with the natural environment and designing around three majestic Moreton Bay fig trees. Two of these decades old trees stand at the Australia Avenue edge of Pavilions Residences, forming a botanical marker for Sydney Olympic Park. The other was relocated to a new position on the site in a delicate six-month operation. The key design principles were:

-Vary the building heights to enrich the future desired scale and character of the precinct; 
-&nbsp;Create a more successful transition from 30+ storey residential towers on Australia Avenue to lower-scale buildings within the precinct; 
-&nbsp;Provide a gateway to Sydney Olympic Park from Australia Avenue south; 
- Minimise overshadowing to communal space; 
-&nbsp;Provide retail amenity and courtyard adjacent to the existing Fig Trees; 
-&nbsp;Use contrasting materials to create visual interest and define the scale and architectural quality of the building; 
-&nbsp;Maintain accessible communal open space with areas for passive and active recreation;

All open space and common areas to have access to natural light and air, and all lift cores open onto large lobbies with windows providing natural outlook and seating. 
 
JR: What did BVN bring to the table? Did they win a design competition? How did the process go for appointing them?

TL: BVN won the Design Excellence competition&nbsp;and then submitted a revised design following amendments to the Sydney Olympic Park 2030 Masterplan. The updated masterplan allowed for increased floor space in response to Government proposals for Metro West and Light Rail connection. This paved the way for a taller gateway tower with more apartments enjoying the sensational views over the district to the city.

JR: What do you feel are the biggest draw cards for buyers?

TL: Buyers seeking quality construction and finishes, and layouts that enhance liveability, are naturally drawn to Mirvac apartments. Pavilions Residences offers Mirvac&rsquo;s customary quality along with a living environment that has been carefully considered to enhance the connection to nature. From the moment you enter Pavilions, stroll along the majestic colonnade past beautiful gardens, you feel uplifted. That feeling continues as you enter the lobby with its exclusive residents&rsquo; lounge, al fresco terrace and co-working space.

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The shared spaces, including the gardens, with bocce court, barbecues and covered dining pavilions, and fully equipped gymnasium, all contribute to a healthy lifestyle and opportunities for residents to get to know each other and build a strong sense of community. The other important factor for buyers is proximity to 430 hectares of parkland right on the doorstep and a location between the two CBDs of Parramatta and Sydney. The advantages of living between these two powerhouse CBDs will become even more apparent as major transport infrastructure such as Metro West and Parramatta Light Rail Stage 2 are completed in coming years.

JR: Can you talk a bit about the Mirvac milestones for Pavilions Residences?

TL:&nbsp;Pavilions Residences was the largest single stage development ever undertaken by Mirvac with the four buildings constructed simultaneously using four cranes at one time. Over 40,000 cubic metres of concrete went into the build, along with 175,000 bricks, 17,200 sqm of floor tiling and 9,100 sqm of balcony pavers.

Innovation has been a constant at Pavilions Residences. LIV Indigo at Pavilions is Mirvac&rsquo;s entry into the burgeoning build to rent sector, offering long term secure leases.

Mirvac&rsquo;s investment in LIV Indigo is a bonus for buyers of Pavilions Residences, ensuring an on-going commitment to the success of the project.

Another first at Pavilions Residences is our world first apartment using &lsquo;green ceramics&rsquo; made from waste glass and textiles as a construction material. Through Mirvac&rsquo;s on-going collaboration with the UNSW Centre for Sustainable Materials Research and Technology (SMaRT) the apartment opens the door to zero waste in construction and a reduction in demand for resources.

[smartcode_project:default project_id=7363 project_image_fid=170821]

JR: How do you see the Sydney Olympic Park area changing in the next five to 10 years?

TL: Sydney Olympic Park has undergone massive change in the past five years and this will only continue in the five to 10 years ahead. Five years ago, the resident population was only about 1,500; today it is more than 6,000. The Sydney Olympic Park 2030 Masterplan lays out a vision for the future with an expanded Town Centre catering for around 23,500 residents and a daily worker population of around 34,000 and 5,000 students.

As major transport projects are completed, early adopters are likely to reap the benefit, living within minutes of the Parramatta and Sydney CBDs by Metro Rail, while enjoying the rare luxury of parkland right on the doorstep. The East has Centennial Park, the West has Bicentennial Park, more than twice the size with a greater variety of walking and cycling trails.

The apartments have favoured working professionals, well advanced in their careers, Mirvac's general manager of residential Toby Long told Urban.

What a buyer needs to know about Pavilions apartments in Sydney Olympic Park: Five minutes with Mirvac's Toby Long

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Two three-storey office properties in Sydney’s Olympic Park have come to market as a redevelopment project.
The 14,423sqm site, which comprises 6 Parkview Drive and 102 Bennelong Parkway.
It is being marketed as Quad Two and Three, with mixed-use and apartment redevelopment potential subject to council approval.
GJS Property’s Jason Wright and Chris Bailey, in conjunction with Savills Australia’s Neil Cooke and Stuart Cox, have been appointed by Growthpoint Properties Australia to market the property via expressions of interest.
More than $70 million is tipped.
Cooke said interest was anticipated from a variety of development groups looking for a residential development play with strong underlying net income.
“There are limited opportunities capable of providing a high-quality mixed-use development situated within such close proximity of all desired amenities,” he said.
Developers will enjoy the income available during the holding period, generated from a combined 10,389sqm of Net Lettable Area in the two five-star NABERS-rated office buildings.
It has a substantial passing income of $3,800,432 per annum with all leases incorporating annual increases between 3.5 per cent and 4 per cent.
The site is zoned B4 Mixed Use under the provisions of the State Environmental Planning Policy (State Significant Precincts) 2005 but will benefit from density and height increases as part of the Sydney Olympic Park Authority (SOPA) Master Plan 2030.
The Master Plan 2030 is pending gazettal, coupled with established and proposed infrastructure.
The vendor had commissioned a feasibility study through architecture firm, Turner, which has been actively involved with the SOPA’s Master Plan 2030.
The feasibility study outlines the potential for 33,722sqm of Gross Floor Area, subject to council approval, providing up to 446 units and a building height limit of up to 15 storeys.
The agents noted Sydney CBD and district views that could be attained through a redevelopment are unlikely to be built out due to the Badu Mangroves and Bicentennial Park to the east. 
Some 18 years after the Olympics, the suburb is an established urban oasis benefitting from significant infrastructure and private investment, Mr Bailey said adding developers working on surrounding residential and mixed-use projects had succeeded in capitalising on the versatility of the precinct.
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j.ballantyne1990-6AQqhLzZaK

$70 million plus Sydney Olympic Park residential site set to spark developer contest

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Sydney Olympic Park Authority is seeking to lease 1,500sqm retail floor space which is suitable for a supermarket.
Situated within the new Pavilions by Mirvac development at 2 Figtree Drive, the site is currently under development.
It will deliver a total of 705 apartments across four residential buildings with frontage onto Australia Avenue.
Sydney Olympic Park currently has a community of over 10 million visitors, 19,000 workers and 3,000 residents, which is set to increase as an additional 2,000 apartments are expected to be delivered over the next five years.
<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/2018/7/5/Olympic%20park2.jpg" alt="">
Future growth as outlined in the Sydney Olympic Park Master Plan 2030 will see a daily community of 23,500 residents and 34,000 workers.
The open tender seeks a tenant to occupy the premises for a minimum fifteen years.
The tender closes on 31 July 2018.
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Sydney Olympic Park Authority looking to lease space to a supermarket

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Sydney Olympic Park has experienced the biggest stock increase in Australia over the past year.
Investar suggests its sales stock has grown by 189%, from 37 units this time last year to its current 107 offerings. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/sydney%20olympic%20park.jpg" target="_blank">to enlarge.</a>
<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/2018/4/5/sydney%20olympic%20park.jpg" alt="">
A two bedroom apartment has been listed for sale with a price guide of $768,000 to $784,000 (pictured below).
<a href="https://www.realestate.com.au/property-apartment-nsw-sydney+olympic+park-127730742" target="_blank">The 612/1 Australia Avenue apartment</a> features two spacious bedrooms, gourmet kitchen with stone bench top and two appointed bathrooms.
Extra features include split system air conditioning, building video security intercom, and secure parking.
<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/2018/4/5/6121%20australia%20avenue.jpg" alt="">
Another Australia Avenue two bedroom apartment was sold for $709,000 last year (pictured below).
Located on the fifth floor of the near new Australia Towers building, the <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney+olympic+park-126172790" target="_blank">501/7 Australia Avenue</a> apartment comes with 99 square metre living space, stone top kitchen with European appliances, and secure car park.
Positioned in the heart of Sydney Olympic Park, it is mere footsteps from the park’s world-class sporting venues, train station and restaurant precinct.
<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/2018/4/5/5017%20australia%20avenue.jpg" alt="">
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Sydney Olympic Park experiences big stock increase

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Sydney Olympic Park Authority has opened a tender for the leasing of The Lodge at Sydney Olympic Park.
Located within the heritage-listed Newington Armory, The Lodge features:
<ul>
<li>Four separate accommodation buildings equipped to accommodate 160 beds – each with its own meeting room, kitchen and amenities</li>
<li>A large dining hall and recreation area</li>
<li>An administration building with main accommodation amenities and staff sleeping areas</li>
</ul>
The open tender seeks a tenant to occupy the premises for a maximum of five years.
The Lodge has primarily provided low-cost, accommodation services; particularly well used by school groups, sporting teams, music and creative arts groups as well as other visitors.
Although its current permitted use is for short-term accommodation, Sydney Olympic Park Authority is now open to considering other permissible uses for The Lodge.
Charles Moore, CEO of Sydney Olympic Park Authority, said the Lodge is the sole accommodation offering at the 52-hectare Newington Armory.
“We would like to see Newington Armory become a thriving cultural and recreational hub for greater Sydney.” 
Newington Armory is a riverside landscape of rolling hills, woodlands and 100 heritage buildings which date back to the 1800s.
The area provides a cultural, recreational and arts program featuring a variety of leisure tours and activities such as dis golf, bicycle and Segway hire, Heritage Train Discovery Tour, temporary public art, visual arts exhibitions, digital filmmaking and creative writing for all ages, as well as home to the Judo NSW Training Facility.
The open tender closes on 1 May 2018.
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The Lodge at Sydney Olympic Park opened for tender

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The Australian Institute of Architects has questioned the recent announcement by the NSW Government to demolish the Sydney Football Stadium at Moore Park and the Olympic Stadium at Sydney Olympic Park to make way for new stadiums with similar spectator capacities.
‘The Sydney Football Stadium is barely 30 years old, while the Olympic Stadium is less than 20 years old,’ NSW Chapter President Andrew Nimmo said today.
‘When our major public buildings don’t last thirty years, we have a real problem. These are places where some of the greatest memories of modern Sydney were made, places where Sydney was elevated to the world stage.
‘To demolish, rather than refurbish, seems like an extraordinary waste.
‘These stadiums are buildings that should live for at least 50 to 100 years. We are doing something wrong as a society if we apply a throwaway mentality to assets that are still so relatively young.
‘It is not unreasonable to expect that it is time that both stadiums undergo significant upgrades to keep them commercially viable in the competitive world of major sporting events.
‘However, best practice, environmentally sustainable development will acknowledge the embodied energy contained in each of these structures - not only the metal, the concrete, the human hours of toil, but also the embodied memory that is locked up in each of these stadiums. All of this needs to be taken into account when considering the business case.
‘Great cities are made up of many layers of built fabric. We cannot wipe the slate of history clean every 20 years. The loss of these buildings would be like losing a major landmark from the horizon.’
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Architects question plans to demolish Sydney stadiums

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Development has been approved for Mirvac's Sydney Olympic Park development Pavilions.
The developer have slated 705 new homes for the site. 
The approval came the day before the launch of Verde, the second building at Pavilions from Mirvac.
Since weekend launch, 68 first home buyers have purchased at Pavilions.
Around one-third of the apartments in Verde are prioritised for the first home buyer.
Toby Long, Mirvac’s General Manager, Residential Development NSW &amp; Major Projects said, the strength of our sales to first home buyers means we are building a strong community of new property owners who will play an integral role in the future of Sydney Olympic Park.
“We are delighted to see so many young people grab the opportunity to invest in their future and we look forward to helping them on this journey,” he said.
“Demolition of existing buildings began last week, a significant milestone in the development timeline, and with DA approval we are now very pleased to be in a position to begin construction on program.
“The NSW Government has identified Sydney Olympic Park as a priority growth area and critical to its plans to provide jobs, homes and recreation in the Sydney to Parramatta corridor.”
Mirvac began selling the first of four buildings at Pavilions in February this year when launchingThe Right Start, an initiative that allows pre-qualified first home buyers to exchange on a five per cent deposit with the remaining five per cent paid in two annual instalments.
The four buildings at Pavilions range from nine to 35 storeys,
More than 75 per cent of the apartments and terrace homes at Pavilions have sold.
<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/2017/09/11/Verde%20at%20Pavilions%20Aerial.jpg" alt="">
Mr Long said the government has set a target of 10,700 new homes for 23,500 new residents, 34,000 new jobs, new schools and more shops, cafés and parks for Olympic Park that will revitalise the entire area, creating a vibrant new town centre alive with the people who live and work here, not just those who come to attend an event.
“This is a vision for city building in a prime location midway between the established CBD of Sydney and the emerging CBD of Parramatta," he said.
“It sits within the knowledge corridor where the jobs of the future are being created in employment centres such as Ryde and Macquarie Park,” said Mr Long.
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Mirvac gains DA approval for Sydney Olympic Park as second building sells

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Mirvac will launch the second building at its Sydney Olympic Park development, Pavilions, in September and is targeted towards first home home buyers.
In February, Mirvac announced The Right Start initiative — where first home buyers get the first pick of apartments —  at the launch of the first stage of Pavilions. 
The scheme also offers a lower deposit and assists with the process of buying off-the-plan.
Mirvac said more than one-third of the total 69 apartments in the new building release, Verde, will be reserved for first home buyers and priced below $650,000 to qualify for full stamp duty exemption with around a dozen under $600,000, meeting the criteria for the state government’s $10,000 first home owners’ grant. 
First home buyers will be able to exchange on a 5 per cent deposit and pay the remaining 5 per cent in two annual instalments.
The 12-level Verde building will comprise one, two and three bedroom apartments from $595,000. Two and three bedroom split level terraces start from $1.39 million and have their own street entry. 
Mirvac general Manager NSW Residential, Toby Long, said the successful launch of Pavilions showed demand coming from a diverse range of buyers from all over Sydney with a greater proportion of first home owners.
<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/2017/08/28/Pavilions2.jpg" alt="">
“The Right Start lowered the deposit hurdle to get into the market allowing 55 people who had been locked out of the market to realise their dream of moving out of home or making the transition from renter to home owner,” said Long.
“That was a fantastic result and we believe first home buyers will find the boutique nature of Verde in a premium development appealing.”
Currently, more than 80 per cent of the released apartments have sold.
Mirvac recently said during its earnings announcement that it achieved a record high lot settlements for the year ending June 30, while maintaining less than 2 per cent defaults. 
The development falls in the area for which the NSW government has earmarked $10 billion for infrastructure spending, including a station on the proposed Parramatta to Sydney Metro line.
“We have a long and proud history in this area and buyers are familiar with our completed projects at nearby Rhodes Waterside, Newington and Cabarita,” said Long.
Mirvac built the Athletes Village before the Sydney 2000 Olympics.
Long said the terraces added a new dimension to living at Sydney Olympic Park for buyers who wanted the lifestyle benefits of Pavilions along with the comforts of a house and courtyard.
“High-rise living is an appealing lifestyle for many however there are others, particularly families, who value being able to walk through their own front gate and enjoy the outdoors in the privacy of their own courtyard.”
Residents’ facilities at Pavilions will include a community room, gymnasium, play area for children and landscaped spaces. There is a 4,000 square metre central courtyard as well.
The existing retail and office space is expected to expand to provide for 34,000 new jobs. 
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Mirvac set to launch second building at Olympic Park development, targets FHBs

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Harry Triguboff’s Meriton group has launched the first stage of its Sydney Olympic Park residential development The Retreat.
The development will feature more than 1200 apartments.
The Retreat is being built on a 5.17 hectare site at 5 Carter Street bought from the Goodman Group for $245 million two years ago.
The first stage will have two elliptical buildings. The North tower will be 22-storeys high and feature split-level loft-style designs, apartments with rooftop entertaining and barbecue areas and penthouses with four bedrooms and two bathrooms.
Harry Triguboff said The Retreat, being developed opposite the ANZ Stadium, is all about green open space, recreation and leisure.
“The Sydney Olympic Park precinct is a very exciting area and we are offering you an opportunity to purchase in the first release before we develop all four stages," he said.
“We have made sure at The Retreat that we provide residents with apartments, resort facilities, shops, a 113-place child-care centre and serviced apartments that complement and add to those attributes.
“We expect to finish the site in the next five years and once completed, we believe prices will rise considerably.
“The Sydney Olympic Park precinct is an idyllic choice for anyone wanting to escape the fast pace of life and more congested living of the city’s heart.”
James Sialepis, Meriton’s director sales, said The Retreat would be ‘in tune’ with the green atmosphere of the Sydney Olympic Park area and a perfect choice for new home buyers.
“The Retreat will have an extensively turfed 2500 square metre central park, with walking and cycling pathways," he said.
“On the third floor of stage one there will be podium gardens where residents will be able to barbecue, dine under cover, or just soak up the views.
“We’ve almost been caught off guard by the demand we’re experiencing for our projects with landscaped gardens and parklands, especially from families and first home buyers, in areas like Lewisham and Sydney Olympic Park.
“The Retreat will be the same and first home buyers will be chasing the great launch prices, with many apartments under $750,000.”
Sialepis said the first stage of The Retreat architects, the SJB group, had designed buildings with glass-faced apartments that capitalised on views across Bicentennial Park and the Parramatta River to the Sydney CBD and the harbour bridge.
Stage one of The Retreat has 149 apartments, some of them the biggest in the area, and they range from one-bedroom through to four-bedroom penthouses with rooftop terraces.
The apartments will start at $585,000 and peak at $2,800,000 for one of the split-level penthouses.
Stage one is expected to be completed by March 2019.
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