&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

[smartcode_project:default project_id=142550 project_image_fid=309369]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

[smartcode_project:default project_id=142550 project_image_fid=297878]

As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

[smartcode_project_cta:default project_id=142550]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

Residential Apartments

<html><body>
For the last few years, property trends have reflected the importance of resort-style amenities and private resident facilities for investors and owner-occupiers alike.

These mixed-use developments have become a new sector mainstay in Australia, according to Cromwell Property Group, with developers increasingly combining commercial, retail, leisure and residential.

Whether you’re an eager investor or an owner-occupier who desires resort-style facilities at your doorstep, here are five apartments with 5-star hotel amenities selling in March 2021. 
 

1. Seafarers, Docklands 
Address: 731 Flinders Street, Docklands VIC 3008 
One-bedroom apartments from $825,000

[smartcode_project:default project_id=27728]

Partnering with Australia’s first 1 Hotel, Seafarers integrates luxury residences and s luxury hotel amenities, management and services.

Designed by Fender Katsalidis, the project provides countless amenities to its residents including an indoor heated pool, jacuzzi, full-service fitness centre and spa.

To complement the convenience of hotel luxuries, Riverlee offers residents private amenities, including a library, dining and lounge. 
 

2. Beyond, Hurstville 
Address: 93 Forest Road, Hurstville NSW 2220 
One-bedroom apartments from $585,000

[smartcode_project:default project_id=6798]

Fridcorp’s latest Hurstville development, Beyond, features a number of on-site amenities that match the quality of the world’s best hotels.

Facilities include an outdoor dining and teppanyaki grill, gardens, lobby bar and residents’ dining.

For health and fitness, entertaining or quiet contemplation, residents can enjoy exclusive access to Beyond’s two podium platforms, which feature barbeque and dining areas as well as a yoga and meditation retreat. 
 

3. Cabana, Palm Beach 
Address: 1 Nineteenth Avenue, Palm Beach QLD 4221 
Three-bedroom apartments from $2,325,000

[smartcode_project:default project_id=84861]

Delivered by Ignite Projects, Cabana offers the best in luxury resort-style living.

The island-like oasis is located across from the recently completed Palm Beach artificial reef and includes its own private beach club.

A key feature of the development’s design, the private beach club includes day beds on and off the water, beachfront and poolside cabanas. 
 

4. Melbourne Grand, Melbourne 
Address: 560 Lonsdale Street, Melbourne VIC 3000 
One-bedroom apartments from $489,000

[smartcode_project:default project_id=3490]

With an entire tenth floor dedicated to resort-style facilities, Central Equity’s Melbourne Grand offers an outstanding living experience rising 58-storeys above the CBD.

Designed by Guildford Bell and Graham Fisher Architects, the development features an indoor pool, gym and yoga studio, residents’ lounge and 17-seat luxe theatre.

A coffee bar and banquet room also provide the ideal setting for entertaining family or friends. 
 

5. Grand Central Towers, Phillip 
Address: 15 Bowes Street, Phillip ACT 2606 
Apartment prices available at request

[smartcode_project:default project_id=7660]

Inspired by New York’s Grand Central Station, Geocon Group’s Grand Central Towers delivers a breathtaking balance of hotel-style luxury and amenity.

Designed by Cox Architecture, the project includes an infinity pool, gym, residents’ dining room, lounge and library.

A rooftop retreat with reflection pond, secure resident parking, car wash and bike workshop are among its other features.
</body></html>

Mixed-use developments have become a new sector mainstay in Australia with developers increasingly combining commercial, retail, leisure and residential

max.kwok_55688

Urban's top 5 apartments with 5-star hotel amenities selling in March 2021

<html><body>
The NSW Government has announced further details of the project to facilitate the removal of high-risk combustible cladding from residential apartment buildings across the State.                                                                                    

Minister for Better Regulation Kevin Anderson confirmed that Project Remediate would provide interest-free, 10-year loans, to strata owners corporations.

The program developed since the 2020-21 NSW Budget seeks the removal by 2023 of high-risk combustible cladding on an estimated 225 buildings across NSW.

There is a project assurance service that will be coordinated through the Office of the NSW Building Commissioner.

The scheme will also help take pressure off owners' corporations by appointing a managing contractor to oversee each individual project from design to final completion.

Under the project details announced today, a financial partner will be engaged to facilitate the provision of interest-free loans to eligible Owners Corporations to fund remediation works. 

Over the next few months, the NSW Government will be tendering for the financial partners and a managing contractor for the program. Applications for owners corporations to take part in the project will open in March.
</body></html>

The NSW Government has announced further details of the project to facilitate the removal of high-risk combustible cladding from residential apartment buildings across the State

jchancellor

NSW Government starts high-risk cladding removal process

<html><body>
The creditors of collapsed apartment developer Ralan Group have voted to put its Arncliffe project into liquidation.
But off the plan buyers in its Ruby, Gold Coast towers have accepted a controversial plan that could see the company founder William O’Dwyer back in action. 
Under the proposal, Mr O’Dwyer and a yet-to-be-disclosed developer, will take control of the Ralan companies involved with the Gold Coast apartment projects. 
Ralan’s voluntary administrator, Grant Thornton’s Said ­Jahani advised against adopting the proposed revival.
At yesterday's final creditors’ meeting for The Ralan Group, Grant Thornton announced the results of the poll to either liquidate or accept the Deed of Company Agreement (DOCA) proposed by the director, Mr William O’Dwyer.
Class action lawyer Matthew Bransgrove twas reported by The Australian as noting O’Dwyer had been allowed to put forward a DOCA that was “vague in the ­extreme” and required the creditors to trust him yet again.
The majority of creditors voted in favour of the DOCA for the Gold Coast companies. The Ruby Collection in Surfers Paradise was proposed as 1600 apartments across four towers, along with the the nearby 670-unit Sapphire development. 
These companies now have 15 days to sign the Deed of Company Arrangement giving effect to the outcome of the vote.  
“As the creditors of the DOCA Entities (ie Gold Coast projects) have voted in favour of the DOCA, the onus will now be on the director, Mr O’Dwyer who proposed the DOCA to reveal the identity of the mystery developer, the location of future development sites and details of the discount mechanics for creditors to consider whether they wish to enter into new sale contracts,” Said Jahani, National Managing Partner Financial Advisory, stated.
It was a close vote.
For the 7 DOCA entities (relating to the Gold Coast projects), there were a majority in both value and number for DOCA and against liquidation for six of the entities. 
However, for one of the DOCA entities, Ralan Paradise No 2 Pty Limited there was a split vote meaning the chairman (Said Jahani) had a casting vote. 
For this entity: 112 creditors owed $60,307 voted for the DOCA but 103 (ie less) creditors owed $87,720 (ie more) voted against the DOCA. 
This vote was swayed by a single creditor with a claim of $63,000 who voted against the DOCA. 
Whilst Said Jahani recommended against the DOCA’s in the report to creditors, the Chairman’s casting vote was used to pass the resolution for the DOCA for this entity because:
1.      On a stand-alone basis there will not be any recoveries available to creditors in a liquidation for this entity.
2.      The total value of creditors in this entity are c. $382K and this equates to the value of unreleased deposits by purchasers in this entity. We currently hold in a trust account, cash of a similar value relating to the quantum of unreleased deposits from purchasers. Once these funds are returned (after allowing for costs), there will be a very small amount of creditor claims left in a liquidation. These funds will be returned regardless of whether this entity enters a DOCA or into liquidation.
3.      In casting a vote for the DOCA, the creditors who voted against the DOCA are not precluded from bringing a claim against Mr William O’Dwyer.
Jahani was conscious that the majority of creditors in the combined DOCA entities voted for the proposal - $93m (703 votes) versus $60m (570 votes).
“The Gold Coast entities all needed to vote in favour of the DOCA for it to proceed.
"Regardless of the case we made for liquidation it is the clear wish of the majority of creditors in these entities to proceed with the proposed DOCA.
"To allow this to happen, and in the knowledge that the creditors of the entity with the split vote will be no worse off, I cast my vote in favour of the DOCA for this single entity with the split vote,” Said Jahani, National Managing Partner Financial Advisory, stated.
The arrangement provides for a creditor who is owed $50,000 to purchase an apartment valued at $500,000 for $450,000.
Mr Jahani said the Australian Securities &amp; Investments Commission had been presented with Grant Thornton’s full report to assess any steps “in terms of disciplinary action or charges related to the sole director, William O’Dwyer”.
The majority of creditors voted in favour of liquidation for the Arncliffe company (Ralan Arncliffe Pty Limited). This company is now in liquidation, but is being built to completion.
The Ralan Group <a href="/news/william-odwyers-ralan-hits-voluntary-administration">went into administration in July</a> with debts of $500 million and five unfinished projects, with its mostly Australian-Chinese off the plan investors having signed contracts that released their deposits to the company in return for 15 per cent annual interest during construction.
It emerged the company had been <a href="/news/collapsed-ralan-group-was-insolvent-in-2014">trading insolvent since 2014.</a>
 
 
 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Ralan Arncliffe liquidated but Ruby, Surfers Paradise lives on 

<html><body>
With the populations of Australia’s major cities exploding, a shift to apartment living was always going to be essential to prevent urban sprawl from becoming unmanageable. Traditionally Australians have been resistant to apartment lifestyles, but that’s changing as apartment buildings become more advanced, and the infrastructure around them – shopping and recreational facilities – makes such lifestyles ever-more convenient and appealing.
From the end of 2000 to now, there have been more than <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-08-18/how-bad-could-the-apartment-building-crisis-be-in-your-state/11413122" target="_blank">667,000 apartment buildings</a>, flats, or units built across the nation. This figure has been led by NSW (259,000), Victoria (174,000), and Queensland (143,000). There are issues with the environment around apartment buildings in Australia, with 97% of buildings between 2003 and 2018 featuring at least one defect, but this has not stopped the cranes coming in, and the skyline filling with increasingly-tall buildings.
<h2 dir="ltr">Within Australia’s Capital Cities</h2>
In fact, the appetite for apartments is almost too much, with oversupply now becoming a problem in some areas. Sydney’s notoriously-expensive housing market is leading to more people looking for rental apartments than ever, but heavy investment in apartment building (with over 30,000 new multi-unit dwellings in the last year alone) is making it difficult to fill all available property – in 2019, rental prices <a href="https://www.smh.com.au/national/nsw/apartment-oversupply-puts-squeeze-on-rents-20190705-p524cp" target="_blank">dropped as much as $100 per week</a> in an effort by landlords to find tenants. Furthermore, Sydney has such a strong pipeline of additional units and apartments ahead of it that this trend is not likely to reverse soon.
Melbourne’s property market, on the other hand, is being propped up by the growth in apartment buildings. In those areas of Melbourne where the median prices of property have risen over the last 12 months, a full<a href="/expert-insights/buying">79% of those are apartment markets</a>. With Melbourne having gone through a post-boom downturn, this reversal being driven by apartments shows a shift it living expectations and demand in the city.
In Australia’s smaller cities, such as Adelaide, apartment living is also a growing trend, albeit at a slower rate to the more traditional single-unit property market. Interestingly, new apartments in Adelaide average <a href="https://www.stratadata.com.au/strata-services/adelaide/" target="_blank">the highest area across all capital cities at 152.3m²</a>. Through 2020 unit values are expected to increase by 1.1 per cent, while house values will increase by 5.1 per cent. The smaller capital cities have not had the kind of property booms that the major capitals have, however, price inflation for single dwelling houses has not priced them out of reach to the same extent, however, so this is less an indication of a weak demand for apartments as it is an indication that markets such as Adelaide will trend in the same direction as the major cities in the years ahead, as the market catches up.
<h2 dir="ltr">Threats To Australian Apartments</h2>
The biggest issue that the Australian property market faces, with regards to apartments, is the issue of the defects. Extreme cases, such as that of the Olympic Park Opal Tower, which<a href="https://www.theguardian.com/australia-news/2018/dec/25/sydney-olympic-park-opal-tower-evacuation-51-units-deemed-unsafe">led to the eviction of residents</a> after 51 units were deemed unsafe, are the ones to make the news, but as mentioned earlier, almost all apartments built in Australia have defects.
Across Queensland, NSW and Victoria, the five most common examples of defects were:
1)  Internal water leaks (42 per cent)
2)  Cracking to internal or external structures (42 per cent)
3)  Water penetration from outside (40 per cent)
4)  Guttering faults (25 per cent)
5)  Defective roof coverings (23 per cent)
These issues can have a dampening effect on the enthusiasm that people have for buying apartments, particularly under the knowledge of how frequent the problem is.
While this is an issue that needs to be solved – and Australian state governments are <a href="https://www.customerservice.nsw.gov.au/our-stories/draft-building-legislation-targets-concerns-about-apartment-buildings" target="_blank">looking to tackle the problem with legislation</a> – the benefits of apartment living for the modern Australian are too significant for the overall interest in apartments to change course. In addition to the convenience, with apartments generally located within easy reach of public transport and CBD areas, there are a host of other benefits to apartment living that make it a sound lifestyle choice for an increasing number of Australians. Living in an apartment requires less maintenance on the part of the owner or tenant. Much of the maintenance work falls under the responsibility of the body corporate, which can be both a significant time and money saver.
<h2 dir="ltr">The Benefits of Apartment Living</h2>
Apartments increasingly have common areas for residents which enhance the value of the space. Swimming pools, communal barbeques, gyms and security systems are all common amenities that have the added benefit that they help to foster a sense of community throughout the building. Finally, the costs of heating, cooling, water and electricity can all be mitigated to an extent in the way that billing for these utilities is handled for multi-tenant buildings.
The signs are that the market for apartments is going to be a challenging one for investors in Australia for some time to come. Defects and the over-production of space is putting downward pressure on prices. At the same time, however, there is a decided shift away from the traditional “Australian dream” in which a family will own a house. The convenience and lifestyle “value-adds” of apartment living have kickstarted an irreversible trend across the entire country.
</body></html>

jrobinson-rf4aSBido9

Understanding the apartment landscape in Australia

<html><body>
GUEST OBSERVATION
Australian cities are growing rapidly. Echoing international trends, higher-density housing will accommodate much of this growth in the inner city. Such housing – mostly apartments, townhouses and blocks of flats – is usually associated with young urban professionals and the childless elite. But families with children do live in apartments and even more will do so in the future.
In Brisbane, for instance, the number of high-rise apartments occupied by families with children almost doubled between 2011 and 2016. This is a challenge for urban planning in a country often accused of “child-blind” higher-density development.
My research investigated how children in higher density-housing are represented in the community. I did this by analysing newspaper media published between 2007 and 2014 and interviewing Brisbane residents and building professionals.
Four dominant narratives emerged. People still think children belong in the suburbs, and that the lack of family-appropriate apartments is the natural outcome of a housing product driven by investors. I found emerging support for wealthy families who wish to live in lifestyle-focused higher-density housing. Similarly, medium-density housing is seen as important for increasing the affordability and diversity of housing options available to young families and downsizing older households.
Children belong in the suburbs
The Australian dream of the detached home, with a white picket fence and children playing in the cul-de-sac, appears alive and well in Brisbane.
One townhouse resident told me: "Everyone’s dream is that once you have a family you move into a proper house. Because house and family – the idea is the same thing, no?"
Not only are suburbs seen as a more appropriate place to raise children, apartments and higher-density areas are actively opposed as dangerous or deviant. One planner explained: "I think suburbs are a better place to bring kids up just because they can walk around and do what they want and there isn’t that safety issue."
Another developer was more explicit: "I’d probably prefer not to raise kids in high density. I’d prefer to have less people these days with all the sickos and shit out there."
Wealthy families get support
Property marketing in Brisbane seems to be embracing wealthy families as appropriate occupants of high-density housing. Media articles use buzz words such as “city-centric living options” and celebrate families that place “higher value on proximity to the city and its amenities than a family-style home in the suburbs”.
There is a marked class divide embedded in this discussion, partially driven by the lack of three-bedroom apartments in Brisbane. As a developer explained:
"If you are very early having kids you can stay in an apartment, but once they start growing then everyone wants to move out to the suburbs. The older demographic has less opposition to living in apartments because their apartment is big enough because they can afford three bedrooms. Gen Y can’t afford to have a big apartment."
Investors drive apartment demand
Apartment development in Brisbane in the five years to 2016 was almost entirely geared to investor appetite rather than demand from owner-occupiers. This resulted in a substantial concentration of one- and two-bedroom units.
One developer explained this trend as due to one- and two-bedroom apartments being more appealing to investors:
"As a developer, the easiest way to sell these things is to do one or two bedrooms and sell them to investor groups in China, Sydney, Perth, because people are looking to spend the money and get the depreciation and tax benefits. That’s why the majority of the apartments in the city are one-bedrooms. Even though the need for owner-occupiers might be quite the opposite, the investor market is much bigger."
This is indicative of the ongoing shift from housing as a home to housing as an investment product in Australian housing markets and the Australian psyche. And it has huge implications for the way our cities are shaped.
Attitudes are changing
There are, however, signs that attitudes towards higher-density housing are changing. This is particularly linked to arguments about housing affordability.
People discussed higher-density housing as a “stepping stone” on the way to home ownership. Often the debate is framed in terms of a generational divide between wealthy baby boomers and millennials struggling to buy their first home.
Interviews and media revealed that medium-density housing was often seen as appropriate for a diverse range of households. While many people I interviewed noted the prevalence of not-in-my-backyard opposition to higher-density housing, planners pointed to an increasing acceptance of diversity in housing choices.
One planner told me: 
"One of the good things that we have done is have a discussion about housing diversity and housing choices and what gets to people is saying, “OK, you don’t want smaller housing in your area. Do you want your children to be able to move out of home?” “Yea” … “Do you want them to be able to live close to you?” “Yes, not too close but, yes, close.”"
Why it matters
Shared narratives about where children and families belong matter because assumptions about the “normal household” and the “appropriate” housing for that household underpin urban policies.
The representation of inner-city and higher-density housing as dangerous is particularly damaging. Parents’ fears for their children’s safety can result in children being less likely to independently explore and play. This could have unintended negative consequences for children’s physical and psychological health.
The lack of affordable, larger apartments is likely to force lower-income households to the city periphery or necessitate overcrowding.
The focus on investor appetite rather than the needs of housing occupants has implications for the design of housing and the proportion of one-, two- and three-bedroom apartments that are delivered. While density is not detrimental to children in and of itself, specific design elements are needed to make higher-density living more attractive to families.
These elements include direct outdoor access, expanded indoor spaces, consideration of surveillance opportunities, and balcony balustrades designed to prevent falls. If occupants’ needs do not feature in development decisions, housing stock will continue to fail to suit children.
Vancouver has had a guideline for high-density housing for families with children since 1992. The City of Vancouver has required a minimum of 35% family-friendly units in new higher-density housing developments since 2016. Australian cities have historically been reticent to enforce development outcomes, but perhaps this should change.<img src="https://counter.theconversation.com/content/93742/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Katrina Raynor, Postdoctoral Research Fellow, Transforming Housing Project, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/children-belong-in-the-suburbs-with-more-families-in-apartments-such-attitudes-are-changing-93742" target="_blank">original article</a>.
</body></html>

‘Children belong in the suburbs’: with more families in apartments, such attitudes are changing

<html><body>
An East Melbourne studio apartment has been recently listed for sale at $450,000.
It last sold in 2007 off the plan at $245,000.
It was listed by Toby Camberwell and Peter Hannon from Caine Real Estate.
It is set in the 2009 completed Claudio Silvestre designed One East Melbourne.
<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/2018/5/22/east%20melbourne.jpg" alt="">
<a href="https://www.realestate.com.au/property-apartment-vic-east+melbourne-128378626" target="_blank">Located at 209/279 Wellington Parade</a>, East Melbourne, the home features a self-contained kitchen with high- grade fittings, separate study area and large bathroom/laundry.
It is located only steps to the Paris End of the CBD, the MCG and East Melbourne's parkland.
<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/2018/5/22/melbourne%203.jpg" alt="">
The building provides five-star facilities including pool, gym, steam room, on-site building manager and secure entry. 
</body></html>

Convenient East Melbourne studio apartment listed

<html><body>
<div class="cq-article-content-paras section">BPM development boss Jonathan Hallinan has revealed only two settlements failed to proceed in two projects in the past two months, in the supposed much-troubled Melbourne and Brisbane apartment markets.</div>
<div class="cq-article-content-paras section">
They were the 40-unit Black Fold project in Brisbane's West End and the 30-unit Light Edge project in Melbourne.
"We've settled 70 in the last two months," Hallinan told Fairfax Media.
"Over two projects, we've had two fall over. Those two were very quickly resold."
Black Fold was a collaboration between BPM, Noel Robinson Architects and Hecker Guthrie with one and two bedroom apartments.
The <a href="https://www.facebook.com/bpmdevelopment/photos/a.1599677896987160.1073741834.1586943561593927/1599677926987157/?type=3&amp;theater" target="_blank">27-29 Bank Street project</a> was a sellout after its 2015 marketing.
Black Fold's rooftop terrace is complete with entertaining arena and uninterrupted views across the city.
Black Fold is situated 1.5 kilometres south west of the CBD.
BMP property management's division is offering rentals including a 2 bedroom, 2 bathroom apartment with 1 car space from $470 per week to $575 a week.
They are offering four weeks rental for free.
Hello Realty has a 2 bedroom, 1 bathroom apartment available at $430 a week.
The 204 apartment, currently rented out at $400 per week with the lease ending June, 2018, has been listed at $445,000.
It sold off the plan at $417,500 in 2015, the cheapest among the block which saw sales up to $575,000.
BPM’s​ project, Light Edge, 30 apartments over six levels came with a design by DKO Architects, on Elizabeth Street in Richmond. 
It sparked immediate buyer interest with 15 sold or reserved within two weeks of its sales release in late 2015.
They sold between $417,500 and $775,000.
</div>
</body></html>

BPM apartment settlements proceed with just two defaults

<html><body>
Developer Deicorp has got approval for the first part of its $400 million mixed-use project in Sydney’s Westmead.
The West Joint Regional Planning Panel gave its nod to Deicorp’s first half of Highline Westmead at <a href="https://deicorpproperty.com.au/property/westmead/" target="_blank">151 Hawkesbury Road</a>. It will comprise 556 apartments and the cost of construction is pegged at $168 million.
Overall, the $400 million project will include residential, medical, university and a retail precinct in Westmead, the first of its kind in Australia, The Australian Financial Review reported.
Application for the second part is pending and is on exhibition with Parramatta City Council. That will allow the construction of another 344 units and cost $113 million.
Apartments will come in a mix of studios, one-, two- and three-bedroom units. There will also be a communal kitchen, dining and barbecue areas and a rooftop garden.
The whole development spans four hectares.
Deicorp bought the sites through an expressions-of-interest campaign from Western Sydney University in late 2015.
The project is being designed by Turner Architects, and it will have a light rail station in front of the site as part of the new Parramatta Light Rail.
There will be spaces for medical support services and community facilities such as childcare centres, the AFR said.
The heritage-listed St Vincent's and Farmhouse buildings on the site will be retained.
Deicorp managing director Fouad Deiri said previously the company would embark on a sales strategy that limited foreign buyers to 50 per cent of the project. Strong local demand for the project is expected.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Developer Deicorp gets approval for stage one of Westmead apartment project

<html><body>
Salta Properties, owned by BRW Rich Listers the Tarascio family, is looking to divest from a Melbourne Riverside development site to focus on developing one of Australia’s first build-to-rent projects.
The developer’s project pipeline of $5.6 billion includes a waterfront development in Docklands, which will comprise more than 200 apartments above a five star hotel.
A feature of the 699 La Trobe St project would be that the apartments will not be sold, but offered as long-term multi-family leases.
Meanwhile, it is planning to sell the Riverside site. 
The more than two hectare Yarra waterfront site has a permit for 494 apartments and could fetch $75 million or more. 
But Tarascio wants to focus on the Docklands project.
"A lot of our focus is on projects we can retain for the long-term now," Tarascio told The Australian Financial Review.
"We've got the Docklands coming up which is one we want to hold on to.
"We have to work and manage our resources as best as possible. We do have to release some equity in some sites."
Under the build-to-rent model, a developer takes returns by holding onto developed residential accommodation for rent, rather than taking profit through sales.
The conditions for that asset class are improving as commercial yields tighten, making residential rental yields more attractive by comparison and factoring in risk, the AFR said.
At the same time, tighter lending to investors and higher taxes on foreign buyers are likely to reduce the rental stock in spite of housing demand, helped by immigration, remaining strong, according to Tarascio.
As a pioneering asset class build-to-rent projects are likely to be more capital-intensive while lenders adjust to the concept.
"We probably need to put a bit more equity in up front when we are doing the first," Tarascio said.
Knight Frank's Paul Henley, George Burbury, Stephen Kelly and Tom Zhou are appointed to the Richmond site on River Boulevard and Christine Crescent.
Henley said the five-tower Richmond project, designed by Buchan, could be developed in stages and would appeal to local and regional players "who want to know they have viable product".
</body></html>

Salta to divest Melbourne riverside site to focus on Docklands build-to-rent project

<html><body>
Just half the apartments on offer in Castle Residence, a $380 million residential project in Sydney’s CBD, sold at its weekend launch.
Located at 203 Castlereagh Street, Castle Residence is the flagship Australian project for international property developer, Shanghai United.
The sales were topped by the 300 sqm penthouse at the project which sold for $18 million ahead of the launch. 
The residential development will incorporate a redevelopment of the heritage listed Porter House into a luxury 121-room boutique hotel in partnership with AccorHotels.
Built in 1876, the original sandstone arches of the five-storeys high, heritage-listed Porter House – long considered “an ornament” to this part of the city – will be extended into a modern structure that floats overhead.
<div title="Page 1">
The premium hotel services will also be available to residents. 
<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/2017/08/14/Castle1.jpg" alt="">
</div>
The building has been designed by architectural firm Candalepas Associates.
The project is being marketed by CBRE.
At the Saturday launch, the highest priced apartment sold was a three-bedroom apartment on the upper floor for $5.8 million while a number of two-bedroom apartments with views also sold for between $3.5 million and $4 million.
CBRE managing director David Milton said there was a broad mix of buyers at the launch, ranging from owner-occupiers to investors.
“We found buyers were eager to secure themselves a piece of real estate in the highly sought after Hyde Park precinct due to the unbeatable proximity to all Sydney CBD has to offer,” Milton said.
He added that many buyers were interested in the dual key apartments, which allow for flexible living with the buyer residing in one side of the apartment looking to rent out the adjoining unit.
Shanghai United is a $19 billion company based out of Shanghai.
Proximity to the CBD makes the Hyde Park precinct one of Sydney’s most sought-after addresses with a recent CBRE report suggesting there was increasing demand for residential apartments in the CBD.
The report said the popularity of two-bedroom CBD apartments showed no signs of abating, comprising 49% of sales.  There was also continuing strong demand for 3+ bedroom luxury apartments in the city from downsizers and empty nesters.
</body></html>

Residential Apartments

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Residential Apartments

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.