National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

Joel Robinson

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

Property Development

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Longton Property’s $300 million Avantra project in Mascot has released 61 apartments, the final apartments in its Nettleton Tribe-designed complex.
Avantra consists of 328 luxury apartments across two towers. More than 60 per cent of all released apartments are now sold.
The North Tower has 12 levels with rooftop swimming pool, landscaped garden and communal entertaining area.
The South Tower has 13 levels and also features a rooftop garden and BBQ area.
The two towers feature ground floor retail, with a total of 13 retail tenancies and are envisaged to be anchored by a major supermarket.
The final release will include a selection of studios, one, and two-bedroom apartments located in both the north and south towers and priced from $795,000 to $1.3 million.
Belong Realty sales director, Alan Ha said these apartments are the most premium ever released in Mascot.
“Each apartment will feature stylish and urban interiors offering award-winning designs by Archer + Wright including European tiles, broadloom carpet, timber floorboards and Delonghi appliances, as well heated towel rails and wine cabinets to add that extra touch of luxury.
Avantra's generously sized one-bedroom apartments start from 75 square metres, two-bedrooms from 100 square metres and three-bedrooms from 154 square metres.
Mascot is one of the final areas in Sydney to offer large off-the-plan apartments with local planning authority Botany Bay City Council being one of the few councils to stipulate large sized apartments as the minimum standard.
Situated at <a href="https://www.avantra.com.au/" target="_blank">659-669 Gardeners Road</a>, Avantra is primarily positioned within close proximity to the Sydney Domestic and International Airports, Botany Bay, and just 15 minutes from the Sydney CBD.
Longton Property Group Director Winnie Pi said Longton Property is committed to delivering a community that residents are proud to call home.
“Construction on Avantra with Built is currently underway and we are pleased to announce that it is due for completion in mid-2017,” Ms Pi said. 
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jonathanchancellor-7SQnKwU6yx

 Longton Property release final Mascot apartments

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As I sat eating dinner with my two sons, the perfect opportunity arose to explain why investing early is so important.
The telly was on and the news story was about uni students degree costs increasing with some changes that the government was proposing to introduce. There was all types of hysteria being reported about degrees costing around $120,000.
I turned to my thirteen year old son and said..."and that's why you need to get into property investing early". 
"Yes I'd love for you to have a uni degree but if you can get started on your property investing early then this will build your wealth faster than your first job can fresh out of uni."
I went on to give him a quick overview on how property investing works. It went something like this...
"When you turn eighteen and have some kind of job, you can buy a little apartment somewhere, we'll use the term deposit money we've been saving for the deposit because that's been growing using compound interest." 
"What's that?" he said.
"It's earning interest from the bank on what you've saved. Then you add the interest each month to your savings and earn interest on the total amount. This keeps on growing, like magic!" I said "You don't have to do anything but keep putting a bit more money in the account".
"Ok, let's get back to that small apartment you'll be buying. Someone will want to live in that little place of yours and they'll pay YOU rent.  You'll be a landlord!  Whilst the rent may not quite cover all your costs, the government might give you a little bit to help as well".
"wow" he said..."that's cool of them".
Then I thought I'd better explain that he will be paying tax on some of the money he earns. "What's tax?" he asked. 
I could see my dinner quickly turning into an economics lesson.  But keeping it really simple I just said "Tax is the money we have to pay to the government when we earn money. They use it to provide stuff for the community like schools and hospitals".
After this very simple overview, I could see him starting to understand.
I said "when you sell this little unit ten or twenty years later, it could be worth double or triple what you paid for it".  And, if you renovate it - add value - you will get more for it.
He was already aware of the concept of adding value thanks to the chats in the car on the way to my development sites.
As he got up to clear the table, I think my message got through when he turned and said, "you know when the value of the house goes up that's like the compound interest magic too isn't it?"
"Yes my darling it is!" I said, ..."but the magic only works if you hold onto the property for a long time."
"OK then", he said. "How much will you give me if I do the dishes tonight mum?". 
I laughed and said, that's your job anyway but I have other jobs you can do to earn some extra cash.
My hope is that these little chats all start to gel over time and the concept of starting to invest in property early is put into action in a few years time. We'll see.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Dinner time economics: Jo Chivers

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GUEST OBSERVER
Recognised for its wilderness, tourism, and mining, the local government authority (LGA) of West Coast has officially produced the best total property investment return of all Tasmanian LGA’s over the last fifteen years.
The population of West Coast has declined over the last ten years and, according to 2014 Census, is a mere 4,527 people. When combined with its high unemployment and rather remote location it’s unlikely that even the most astute property investor would even bother typing ‘West Coast’ in to their search engine. But, the actual returns on investment have been absolutely spectacular.
$21,750 is what one would have paid for a typical house at the start of 2000 and, even though properties declined by 34% over the last 6 years, it would now be worth $70,000.  As they say, small fish taste sweeter!
West Coast’s average annual capital growth of 9.4% is well above the 8.0% national average for the same period. An 11.1% rental yield means that its total return of 20.5% has it ranked number four in Australia over the last 15 years. Yes, 4th out of 550.
Propertyology conducted a study to compare the historical property market performance of each of Australia’s 550 local government authorities between 2000 and 2014. Given that some property markets have higher rates of growth and others have higher rental yields, Propertyology calculated the ‘total return’ (average annual growth rate plus rental yield) and we then ranked the LGA’s from 1 to 550 based on this performance.
Of the seven LGAs which make up the Greater-Hobart capital city, Derwent Valley was the highest ranked LGA at 24th – impressive stuff! Hobart City was ranked a very respectable 147th (ahead of every LGA in Sydney and Melbourne). Sorell (55th) and Glenorchy (58th) were ranked in the best 10% in Australia over the last 15 years.
29 of the total 550 Australian LGA’s are in Tasmania. Twelve of those LGA’s featured in Australia’s Top 100 (the best 20%). Australia’s smallest state bats well above its weight in respect to property market performers over the last 15 years.
These results are further proof that, in isolation, population growth is not a magic potion for property price growth. Data from ABS confirms that Tasmania’s population grew by an average of 0.8% per annum, the lowest of all states and well below the national average of 1.7% per annum.
Tasmania’s north performed particularly well. Kentish (32nd), Burnie (59th), Devenport (113th), Launceston (87Th), and West Tamar (153rd) were strong performers. 
<a href="/images/2015/10/02/StateScorecard_Tas.1.JPG" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/02/StateScorecard_Tas.1.JPG" alt="">
SIMON PRESSLEY IS MANAGING DIRECTOR OF <a href="https://www.propertyology.com.au/" target="_blank">PROPERTYOLOGY</a>, AN REIA HALL OF FAME INDUCTEE, PROPERTY MARKET ANALYST, ACCREDITED PROPERTY INVESTMENT ADVISER, AND BUYER’S AGENT. PROPERTYOLOGY WORKS EXCLUSIVELY WITH PROPERTY INVESTORS TO PURCHASE PROPERTIES IN STRATEGICALLY CHOSEN LOCATIONS ALL OVER AUSTRALIA.
 
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Tasmania’s property market scorecard: Simon Pressley

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Mrs Australia 2012, Veronica Cristovao and her property developer husband Duarte have sold the second waterfront duplex in Chiswick.
The Cristovaos built the duplex on the prime north-facing site after having bought the land in <a href="https://www.realestate.com.au/property-house-nsw-chiswick-120516033" target="_blank">2010 in $3,655,000</a>.
Duarte and Veronica founded Collingwood House, a property development &amp; property management company.
The latest architect-designed residence on Abbotsford Bay features five bedrooms, four bathrooms, infinity pool and approval for shared jetty.
The home’s twin was sold two years ago for $3.6 million to downsizing greengrocer supremo Chris Parisi and his wife Emily. 
BresicWhitney agent Nicholas McEvoy was scheduled to take the latest offering to auction with $4.35 million plus hopes, but secured $4.85 million two days before the auction, the highest sale for a duplex on Fortesecue Street.
Happy with the profit they've made, the Cristovaos are already seeking their next project in the surrounding areas, with Woolwich and Drummoyne of interest.
Veronica also recently opened a children's store, Diamond Kids Boutique close by on Victoria Road.
Their Collingwood House website advises Veronica has a background in real estate and has studied interior design. Duarte is a licensed builder, learning the tools of the trade working alongside his father in property development.
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Record price for Chiswick duplex 

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Fresh listings nationally are up 4.9% when compared to the same time last year, with 44,753 properties advertised over the last 28 days, according to CoreLogic RP Data.
CoreLogic RP Data's latest Property Pulse found Sydney had the largest increase in new listings when compared to last year at 19.0%. 
New listings are up in Melbourne, Brisbane, Adelaide and Canberra and lower in Perth, Hobart and Darwin and total stock levels  down 0.3% nationally and up 1.7% across the combined capital cities. 
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<a href="/images/2015/09/25/Screen%20Shot%202015-09-25%20at%2011.29.15%20AM.png" target="_blank">Click to enlarge</a>
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Fresh listings nationally up 4.9%: CoreLogic RP Data

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Sam Perrett, whose season ended last Friday night when the Bulldogs lost their NRL elimination final, has established a property investment and development company, The Perrett Group. 
The 30-year-old Kiwi international buys land, constructs houses and then offers them for sale or investment, mostly around Sydney.
He's just completed an impressive four bedroom, two bathroom family home at Gledswood Hills, on a $254,000 block in the new housing estate near Camden. 
There are now plans to build a display home at Campbelltown to showcase his design and construction expertise.
“People will be invited to invest in The Perrett Group,” said Sam, who has completed a carpentry apprenticeship, obtained a builder’s license and a diploma of business. 
“We will purchase and develop land, then build and sell our homes. Everyone involved will benefit from our profits.”
An ambassador for the Housing Industry Association, and the NRL Trading Up program where he mentors apprentice tradies, Parrett joined the Canterbury-Bankstown Bulldogs in 2012 from the Sydney Roosters.
The slogan for the<a href="https://perrettgroup.com.au" target="_blank"> Perrett Group</a> is ‘Building and improving life’, a mantra Perrett seeks to apply to his personal and sporting pursuits.
This article was first published in the Sunday Telegraph.
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NRL's Sam Perrett launches property development business

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More than 100 apartments were snapped up within three and a half hours at the recent launch of Parramatta’s Promenade No. 2 development.
A total of 198 apartments made up the first release of the $314 million project located on the Parramatta River.
While the display suite doors didn’t open until 8.30am, eager buyers lined up from 6.30am, ready to snap up a one, two or three-bedroom apartment with prices starting from $518,000.
The apartments released were less than 200 of the 505 units that will make up Promenade No. 2.
CBRE managing director David Milton said the project had seen interest from both owner-occupiers and investors with the former making up 60 per cent of the day’s sales.
“There was a lot of local interest and a lot of interest from the greater Sydney area,” Mr Milton said.
Promenade is being developed by Starryland Australia, a local division of China-based company Fuxing Huiyu Real Estate.
Starryland’s executive director Hao Liu said the company took an interest in Parramatta because of its commercial nature landscape with an aim to transform it into a residential city.
Communal spaces will include 1.2 hectares of landscaped gardens, an artificial beach and water fountain on the banks of the river, a raised landscaped leisure zone with river views, trees with large potted plants and expansive timber decks.
There will also be a multipurpose communal pavilion, barbecue facilities and a retail plaza.
<a href="https://www.realestate.com.au/project-promenade-nsw-parramatta-600005175" target="_blank">Promenade No. 2</a> has an expected completion date of early 2018.
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Starryland's Promenade No. 2 sells over 100 apartments on launch morning‏

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The keys and crown of Jonathan and Amanda Erwin are set to be handed over following the sale of their sandstone castle at Avalon for $2,542,500.
Set up 100 steps at <a href="https://www.realestate.com.au/property-house-nsw-avalon+beach-115993231" target="_blank">40 Chisholm Avenue</a>, it finally achieved its $2.5 million plus expectations, but took more than a year to do so through LJ Hooker Palm Beach selling agent David Edwards.
Set on the northern side of an unspoilt rocky summit above Clareville Beach, it was the opera devotee architect Edwin Kingsberry's idea to build the house, however he lacked the funds and the land sold to Leslie Erwin, a salesman for Colgate/Parmolive.
Erwin constructed it as a present for his wife. However, his wife - and the mother of the current vendors - ran off with the architect.
Inspired by the music of Wagner, the palatial medieval property got its official name — Götterdämmerung — from the composer’s famous Ring Cycle opera, but locals just call it The Castle.
Music still resounds from the home, with Jonathan, an antique furniture restorer, a member of the northern beaches band, Bilgola Bop Band.
At 3238 sq metres, this block of land is one of the largest on the peninsula, with the privacy of the site never to be threatened.
This article first appeared in the Sunday Telegraph.
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The Castle sells at Avalon

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A Melbourne developer has paid $5.95 million for an Elwood Beach residential site with immediate plans to develop it into a luxury 23 apartment complex.
The site, <a href="/expert-insights/investing/elwood-beach-apartment-block-listed-with-6-million-hopes">47 Ormond Esplanade</a>, has an existing approved permit and plans that include including two penthouses and private rooftop terraces. 
Savills agent Julian Heatherich said he fielded over 200 enquiries during the four week expressions of interest campaign, with the purchaser buying on an unconditional basis with a short-term settlement.
Colleague Clinton Baxter said a penthouse apartment at Elwood House sold for $2.95 million off-the-plan recently, equating to a square metre rate of more than $17,000, way over the local area average of circa $12,500 a square metre rate.
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$5.95 million paid for Elwood Beach residential rebuild

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GUEST OBSERVER
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Incoming Prime Minister Malcolm Turnbull should refocus the Federal Government onto the importance of Australia’s cities. 
With over 80% of Australian’s living in cities the Federal Government has a key role to play in how our cities develop. 
Malcolm Turnbull, as the new Prime Minister, has an opportunity to refocus how Federal Government expenditure on infrastructure projects can stimulate the growth of Australia’s cities. 
The Urban Taskforce believes that State Governments must have the major responsibility for managing cities but the Federal Government which collects most of the taxes needs to allocate funds to urban infrastructure projects. This must include public transport projects as well as major road projects.
Sydney is leading the way in urban density driven by preferences for apartment living in cosmopolitan environments and this higher density is ideal for new public transport projects. 
Across Australia all urban areas will be moving towards denser environments related to apartment living. The Federal Government can give incentives to State and Local Governments that support greater densities by funding key infrastructure projects. 
The current review of Federation and the relative roles of State and Federal Governments must have cities and their growth as a key issue.
Malcolm Turnbull has a good understanding of the importance of encouraging density in our cities, supported by infrastructure as outlined in a presentation in 2013. 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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