Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Residential Development

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A residential development expected to be Box Hill's tallest tower on completion was officially launched to the public on April 9, 2016, with 8 percent of stage one sold out.
Sky One will be a 35-storey mixed-use building comprising 419 apartments and retail by Golden Age Development Group. It will be located at 545 Station Street.
The interest from the public can be gauged by the fact that sales crossed $140 million, said a media release. 
"We are absolutely thrilled with the response to Sky One so far. The launch weekend was overwhelming success with 85% of stage one sold and an extremely strong level of interest from the local Box Hill market,” said marketing and sales director of Golden Age, Dandan Zhao.
Privately owned Golden Age is based in Melbourne and among its developments are the new five-star Sheraton Hotel in Melbourne, residential towers Victoria One, Collins House and Opera, and two new projects in Sydney.
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Off-the-plan Box Hill tower Sky One in Melbourne sees 85 percent sales at launch 

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SPONSORED POST
Sydney developer Longton Property Group is working on a $300 million Avantra apartment project in Mascot that is designed to imitate a suburban street, but going up instead of a horizontal orientation.
The 328-apartment complex plus ground floor retail has been designed with a sense of community by architects MD+A and interior designer Archer + Wright.
The apartment block will include communal areas such as a shared rooftop area in which residents can swim, barbeque and interact with views of the Sydney skyline.
Covering 8,762 square metres, Avantra is oriented vertically, akin to “streets in the sky”, according to MD+A architect Brent Marvin.  
“We have six metres between front doors which is typical of a small lane, and we have areas at each level where residents can sit in the sun. Within the building we have areas where residents can work or socialise, entertainment zones, a full-scale pool and BBQ areas. Instead of these elements being spread out at ground level we have designed them in the sky,” he said.
Avantra will be centred around a large courtyard garden designed for communal use. The designer, Daniel Baffsky of 360 Degree Landscape Architects, aimed to create a sense that “the whole area is your garden.”
“Our philosophy is to create a beautiful landscape, but also a setting for community, for people to have chance interactions, as well as to have spaces for privacy and to relax.” 
Longton aims for Avantra to be a community unto itself.  
One way it achieves this is through technology: each apartment will come with an iPad and the myiButler app, with which residents will be able to order shopping or house cleaning without leaving their unit.
All Avantra residents will also be part of a single virtual network, or iCommunity, allowing them to share information. Residents will be able to check updates on news, weather or finance, to be accessed either on their phones or iPads, or on an electronic noticeboard in each lobby.
Internal size of studios in Avantra are 60m² to 61m², one-bedroom plus MPR units are 75 m² to 82m², two-bedroom plus MPR units are 100m² to 127m² while three-bedroom plus MPR unit is 154 m². 
The construction work of Avantra project has commenced. Residents are expected to move in by December 2017.
For more information, <a href="https://www.avantra.com.au/" target="_blank">click here</a>.
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Longton Property Group's Avantra development bringing community to Mascot

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Investors priced out of the Sydney market are turning to Brisbane developments that offer long-term capital growth and consistently attractive yield, according to a property group based there which has seen inquiries from Sydney climb up in the past year.
Mosaic Property Group is a Brisbane-based boutique property group, with 14 inner-city residential projects currently in development.
During the past 6-12 months, the group’s Sydney and Melbourne sales inquiries have significantly increased.
In addition, there was a fall of 1.6 percent in Sydney’s Residential Property Price Index (RPPI) for the December quarter 2015, according to the ABS.
Mosaic managing director Brook Monahan said while the investor exodus from Sydney to Brisbane was not new, it was gathering further pace.
“Sydney investors can spend $500,000 in Brisbane on a spacious two-bedroom apartment with quality finishes in a new boutique development within 10km of the CBD, or they can spend double that amount on a smaller, older unit in their hometown," said Monahan.
“They can see that with investment into a high quality development in Brisbane, they’re buying into a market that is not only offering good rental yields, but also has strong long-term capital growth potential in the right projects.
“Across Sydney we’ve seen established housing and attached dwellings pricing fall 2.1 percent and 0.8 percent respectfully."
Monahan added that the trend was not just about investors chasing affordability, but also quality. 
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Sydney's unaffordability driving investors to Brisbane, says local property group Mosaic

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Minister for Family and Community Services and Social Housing Brad Hazzard and the Lord Mayor of Sydney, Clover Moore, officially opened the latest development by City West Housing, The Exordium Apartments at Zetland.
Exordium Apartments at Zetland is a $41m development comprising 104 contemporary one, two and three bedroom units geared toward affordability for city workers.
Janelle Goulding, CEO of City West Housing said the vision for the development was to create a high quality and sophisticated contemporary building and  provides a mix of residential dwellings to help support the ever increasing demand for affordable rental accommodation.
It will feature communal gardens and BBQ areas, a small cafe and a single level basement with parking for 40 cars and ample bicycle storage.
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City West Housing Zetland development The Exordium officially open

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The big four banks’ increased capital requirements will heighten the need for alternative funding sources for property development, according to a real estate investment firm Qualitas.
The company, which provides equity and debt financing to residential, commercial and retail property developers, discussed the issue in a briefing in Sydney.  
The Australian market is unusually dependent on big banks for commercial real estate lending, said group managing director Andrew Schwartz.
“Australia’s four major banks dominate the $230 billion commercial real estate debt market, with a market share of over 90%. In comparison, commercial banks in the United Kingdom and United States control between 40%-60% of the market, with non-banks, such as institutional debt funds, controlling the remainder. But real estate debt funds haven’t had a big presence in Australia to date,” he said.
This is set to change in the coming years, with the Australian Prudential Regulation Authority’s decision to increase the big banks’ required capital levels. When coupled with banks’ internal requirements that limit commercial real estate Loan to Valuation Ratios (LVRs) to around 55-65%, Qualitas says the market will need more options.
“The banks have their hands tied when it comes to making loans to property developers. As a result, there is a need for additional funding sources, which is where Qualitas fills the gap. Sometimes we provide this alongside the banks, through mezzanine debt, and other times we provide senior debt or equity,” Schwartz said.
While co-investing from its own balance sheet, Qualitas also invests discretionary capital on behalf of institutional and high-net-worth investors. It is seeing strong interest from offshore investors keen to access the Australian property market, which continues to demonstrate relative value compared to North American and European markets. 
“The depth of capital in foreign markets is huge - relative to Australia – and the weight of this money has compressed returns offshore, while they remain higher here. Some investors are also attracted by the fall in the AUD. As a result, we expect 2016 will see increased momentum of foreign capital coming to Australia. This is good news for the market, as it will increase the options available to those who need capital from alternative sources,” said Schwartz.
However, accessing quality deals in the local market can be challenging for overseas investors, according to Schwartz.
“Some of the biggest managers providing commercial real estate debt and equity capital globally aren’t seriously competing down here – they operate on more of a fly in/fly out basis. As a result, they don’t have the networks of contacts or on-the-ground access to deals before they hit the market.
“We deliver superior returns on a risk adjusted basis. Returns are attractive, so people assume it must be very risky. However, there are reasons they are high. Access is key: we are providing capital that our clients can’t source from the banks, while the market we operate in is very closed, built on networks, trust and long term relationships; so there is an information arbitrage at work,” Schwartz said to emphasise that Qualitas delivers above-market returns.
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Bank funding gap for property development set to widen: Qualitas

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A factory warehouse that is a Petersham landmark since its construction circa 1903 is up for auction, with the site conditionally approved for a residential development.
The auction is on April 30 and Duncan Gordon and Michael Harris of Raine &amp; Horne are the listing agents. They have $5 million hopes.
The Beynon &amp; Hayward warehouse at <a href="https://www.6livingstoneroad.com/" target="_blank">6 Livingstone Road</a> was originally a grain store. The building was adapted in the 1930s into Sydney's first furniture removalist and storage facility and the iconic signage along Livingstone Road has been in place ever since. 
The site is being offered complete with conditional DA approval for a high quality residential development featuring 18 luxury apartments and two ground floor retail outlets.
The property has three street frontages.
This section of Petersham is less than seven km to Sydney CBD either on bus or by train, with retail and coffee/dining all closeby. 
The existing warehouse features vast interiors, soaring corrugated iron roofing, exposed timber beams and original brick walls. The new complex will include a choice of studio, one and two-bedroom layouts each with generous proportions and good natural light. 
Architects have worked to retain the building's signature sawtooth facade and showcase designer chic with quality modern finishes throughout. 
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Century-old warehouse in Sydney's Petersham up for auction 

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For most investors, location is the top priority for purchasing a property, and Sydney's North Ryde is one such suburb. 
Median house prices in North Ryde increased by 28.12% over the last 12 months, positioning it in the top 10 percent of all Australian suburban markets for the 12 months to December 2015, according to Core Logic RP Data.
Further, according to Your Investment Property magazine, 87 percent of properties within North Ryde are stand alone or detached housing, implying a current undersupply of apartments. 
In this context, Frasers Property Australia’s Centrale development in North Ryde continues to attract investors, who represent approximately 70 percent of buyers so far.
Comprising four buildings, Centrale will have 380 dwellings in a mix of one, two and three-bedroom configurations. The apartments will feature open plan interiors, designed to maximise seamless indoor-outdoor living, with many boasting views out to the Sydney city skyline.
“Centrale satisfies specific demand for high quality, well connected and smartly designed apartments in an area undergoing significant transformation. Investors and owner-occupiers can see the change happening locally and recognise the future possibilities,” Nigel Edgar, NSW Residential Division general manager, Frasers Property Australia, said.
One of the investors, Anna Crino, who owns a one-bedroom apartment, said, “I was actively looking for an apartment in the North Ryde area. After I visited the Centrale display suite, I instantly responded to the smart design and practical layout of the apartment.”
“The apartment is spacious with a contemporary design. I could see it has great potential for future tenants, with the flexibility to suit either a single person or couple.”
Centrale is part of the NSW government’s North Ryde Urban Activation Precinct, expected to become one of Sydney’s most popular residential and recreational areas.
The furnished display suite at Centrale, situated off Delhi Road in North Ryde, is open 7 days a week 11am to 5pm.  
Centrale, designed by award-winning Turner Architects, Centrale offers contemporary, open plan interiors filled with natural light and views of the landscaped podium gardens or the Sydney city skyline.
Centrale apartments are located on Delhi Road, just a short distance to North Ryde train station and local shops, cafes, hospitals and parks.
Once stage was over 70 percent sold, Centrale put stage two on the market late last year with apartments priced from $575,000.
For more information, <a href="https://www.frasersproperty.com.au/SMP/NSW/Centrale/Centrale" target="_blank">click here</a>.
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Centrale apartments in Sydney's North Ryde popular with investors

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Global property developer Greenland Australia is set to reveal plans of their Macquarie Park mixed use community Lachlan's Line featuring some 2,700 apartments.
Lachlan's Line, bounded by Wicks, Epping and Delhi roads, as well as the M2 freeway, is a 1.53 hectare site which will be will developed in two stages. 
The first two stages consist of approximately 900 apartments across six towers ranging in height from seven to 17 storeys, and 6,000 sqm of ground floor retail.
The development was announced in 2013 as part of the North Ryde Urban Activation Precinct, T 
Greenland Australia managing director Sherwood Luo said that the company identified Macquarie Park as one of Sydney’s key growth areas given the well-established services and transport available in the suburb.  
“Lachlan’s Line residents will be incredibly well connected as the site is serviced by two major train stations and numerous bus routes," he said.
"North Ryde train station is only 250 metres away, providing direct access to Epping, Chatswood, North Sydney the Sydney CBD and Parramatta and Macquarie Park Train Station and bus interchange is only 1.2km or 10 minutes’ walk away.
"Lachlan’s Line is positioned right in the heart of one of Sydney’s largest employment hubs - Macquarie Park - home to a number of major global brands such as Microsoft, universities and the newly renovated, Macquarie Centre shopping centre and offers a unique investment opportunity for a diverse range of buyers from first home buyers and local downsizers to savvy investors. In particular, we believe that our project will appeal to young buyers of the millennial generation given its vibrant urban village shopping and amenity, health and wellbeing facilities and proximity to some of the country’s largest universities and employers."
“Macquarie Park is set to experience significant growth over the coming years - making it one of Sydney’s most desirable suburbs to live, work and study in.” 
For more information <a href="https://www.greenlandaustralia.com.au" target="_blank">click here</a>.
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Greenland brings global expertise to Lachlan's Line

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The national architecture firm Rothelowman has won the prestigious President's Award at the 2016 National Urban Development Institure of Australia (UDIA) Awards for Excellence.
They won the award for a mixed-use Abbotsford apartment development.
Developed by Hamton and ISPT, the three-stage project has been planned to include premium facilities such as a rooftop cinema, lobby bars and a health and wellbeing centre.
Rothelowman, working closely with the client and council, integrated the riverfront in their design by allowing public access through the centre of the site to the bank of the Yarra River. 
Rothelowman principal Chris Hayton said that Eden (above), Haven and Sanctuary (the three stages) have added high quality and a meaningful public space to the existing urban fabric of Abbotsford.
The project also won the national award in the High Density Housing category and previously won awards in the categories of Master Planned Developments and High Density Developments in last years Victorian UDIA awards.
 
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Rothelowman-designed development wins big at UDIA awards

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GUEST OBSERVER
Sydney buyers looking for a freestanding home are starting to be frozen out with the infiltration of apartments, and property experts are widely talking about unit prices dropping due to oversupply - but is this the only issue? This is just one problem but many others are being ignored. 
Exceptional market conditions in Sydney meant that apartments were significantly more affordable than houses for many buyers – last year especially – and as a result, many development applications were submitted for new apartment high rises. As a result, Sydney took over from Melbourne as the leading capital for apartment development and in July alone last year, the City of Sydney received more than 2,400 development applications, in what was quoted as a record high.
By 2018, the City of Sydney expects 8,000 new dwellings to be completed, while Green Square is expected to house more than 54,000 people by 2030<a name="x__ftnref3" href="https://outlook.office.com/OWA/?realm=propertyobserver.com.au#x__ftn3" title="">[3]</a>. Looking north of the bridge, St Leonards will have more than 500 new apartments by 2020.
“here’s an apartment boom but where is the foundation? If we look at supply and demand a year ago, apartments were in demand mainly because of the investor boom and many owner-occupiers were priced out of purchasing a family home. What I want to know is are we building the right course for the right horse?
Think about housing diversity five years ago and look at where we are heading by 2020, we’ll have a remarkable number of apartments by then. The size and scale of this issue is much bigger than we even realise and there’s a real lack of research around the implications on infrastructure, mental health and other future ramifications. 
This year, it’s been estimated that almost 45,000 apartments will be completed and settled in Sydney, Melbourne and Brisbane, with an additional 53,000 due for completion in 2017.
We are reverse engineering the supply and demand process and changing the behaviours of people as a result.
We are forcing buyers into considering apartments because the reality is that they have very little other option in a semi-affordable price range. We are starting to see some ill-effects from an oversupply of apartments such as rents falling for the first time in three years, as well as vacancy rates rising. A number of reports show that this is already happening but this is not the only issue. There are also huge socioeconomic issues that will arise from this boom.
A report on housing demand from NSW Planning and Environment predicted that Sydney will have an extra 1.6 million people by 2031, and more than 664,000 homes will be needed. It claims that the rise in single-person and couple-only households as well as an ageing population is driving the need for smaller dwellings. This report also revealed how the government would create housing diversity, which included studio flats (self-contained studio apartments that are established with a main house), smaller lot sizes (standard minimum lot size for high and low density areas), townhouses and terraces, and manor homes (four separately titled units within the same building). 
Although I acknowledge the findings in the report, I still believe that a lot of these apartments are being built to feed the investor boom as opposed to a spike in people looking for low maintenance properties. How are freestanding, detached homes not part of a housing diversity plan? We need to have more dialogue on this and think of more creative ways to build more townhouses or single house dwellings for a similar price as apartments – in a way that doesn’t skimp on build quality. Increasing population is a problem for everyone. Let’s not just build tower blocks at extortionate prices, let’s build dwellings that Australians are happy to come home to.
Five solutions for housing diversity that meets demand:
1. Increase ‘stepping stone’ homes. Currently, there is a very small pool of stepping stone properties available for buyers. I don’t understand how we expect people to go straight from a unit into a four-bedroom home if things continue on the same trajectory. Town planners really need to focus on building a bridge for buyers from their first property to their second property because the type of supply is not readily there. Terrace houses take up a lot of space and that’s why they’re not being built as much – but they’re a good example of a stepping stone property.
Likewise, if you look at people downsizing, which many baby boomers are in the midst of doing or considering, they might want something in between their four-to-five-bedroom family home and an apartment. Generally, at the end of the day, younger people live in tower blocks. After the kids have flown the nest, downsizers are usually only open to moving into a 16th floor shoebox with shared walls when it also comes with something as spectacular as harbour views.
Sydney’s Leppington is planning to introduce a contemporary equivalent to the Paddington and Surry Hills terrace-style houses as part of its redevelopment masterplan and I think this is a great example of forward thinking. Sure, the suburb is very much a blank canvas so they have the luxury of planning really thoughtfully and building for the future, but there’s no reason why other suburbs can’t plan for the future – they just have to be more creative about it.
2. An in-depth, socioeconomic study. 
A number of studies have been carried out to determine the happiness of people living in high rise apartment blocks, with one study in the UK revealing some alarming results, including that apartment living can increase your susceptibility to stress and your risk of developing mental health issues, and could even cause a relationship break-up. Furthermore, the study revealed that there are serious concerns for children brought up in apartments; children can suffer from hyperactivity, hostility and juvenile delinquency as a result. Not enough socioeconomic studies have gone into this on a local level and it’s absolutely something we need to explore.
Size is one thing but we also need to consider the emotional impact of living high up in the air. I understand the economics of the situation but I don’t think enough research goes into it. Yes, there’s demand but I think we should start building dwellings that people want to live in – not just because it’s the only option, price-wise. We have a responsibility for future generations to preserve the integrity and ambience of certain areas, and need to take a step back and look logically at this because the mental wellbeing of our community is also very important.
3. More emphasis on planning for the future of our city. 
You can’t just rezone an area for fun. While it’s true that people work longer hours, are information rich and have fewer children, that can’t be translated directly into them wanting smaller dwellings. Residents of family-centric areas are getting together to oppose the rezoning of their suburbs, and we saw just one example of this in the inner-west suburb of Hurlstone Park earlier this year. 
You have to ask why units are being built in family-belt areas to create more diversity from a demographic point of view. People often move to these suburbs for a more peaceful or quieter life, so why are some councils now trying to entice youth into the area? Most young people want to live in a vibrant suburb with all the trimmings, which makes living away from inner-city areas less appealing to them. I think the Federal Government is putting pressure on the NSW State Government to meet various quotas which trickles down to the councils and that’s how we arrived here – building for today but not for tomorrow. 
4. Assess implications on surrounding infrastructure. 
I applaud the government for getting the big ticket items right such as public transport and widening of motorways, but they need to work further on local transport and roads, as well as schools, shops and other infrastructure essential for these new high-density communities. What new apartment developments are going to do is put a lot of stress on small intersections and I’m not sure if we are looking at the full impact on society. Are we still surveying roads and measuring traffic flow like we used to in soon-to-be affected intersections every morning and afternoon? If we’re not, we certainly should be. 
5. Incorporating vertical forests into more developments. 
My concern with apartments is how the lack of greenery negatively impacts residents’ wellbeing. It’s been scientifically proven that green is a calming colour and nature is a calming influence and I think it’s crucial for apartment blocks. Large-scale, inner-city urban renewal projects are really thinking creatively about how they can incorporate plant life. Central Park in Chippendale is a great example, with vertical gardens and surrounding parkland, and developments at Green Square as well as Barangaroo are also focused on incorporating greenery. The developers aren’t doing it just because it looks good, they’re doing it because it’s essential to keeping residents happy.
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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