Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Sydney off the plan apartments

North Shore developer WINIM has pushed the button in 2024, launching yet another apartment development.

Following the launch of Huntington Residences in Cremorne, <a href="/developers/winim">WINIM</a>, led by joint managing directors Justin Kuiters and Josh Leahy, has launched <a href="/new-apartments/kleo-mosman-8-12-gurrigal-street-mosman">Kleo Mosman</a>, just 14 apartments conveniently and quietly set back off Military Road.

The Gurrigal Street project has one, two, three and four-bedroom apartments across a five-level building designed by WINIM's go-to architecture firm&nbsp;<a href="/architects/rothelowman">Rothelowman</a>.

[smartcode_project:default project_id=144056 project_image_fid=254177]

Kléo's exterior draws inspiration from the area's historic homes, featuring Victorian-style curves and distinctive columns. Landscape Architect <a href="/landscape-architect/arcadia-landscape-architecture">Arcadia</a> has designed the green spaces around the development.

The exterior's architecture transitions into the interiors, combining heritage-inspired design with modern elements to accentuate the generous, high-ceiling layouts of each residence.

Every apartment offers a balance of style and functionality, featuring art deco-style light fittings, solid brass handles, acoustically treated glass panelling, and integrated storage solutions.

The open-plan living areas extend to terraces that showcase pockets of greenery, ensuring refreshing cross ventilation throughout all the residences.&nbsp;

The kitchens are equipped with V-ZUG and Sub-Zero appliances, as well as a solid Travertine island with Taj Mahal quartzite benchtops and brushed metal tapware.

[smartcode_project:default project_id=144056 project_image_fid=254178]

Kléo Mosman enjoys a central location in cosmopolitan <a href="/new-apartments/mosman-nsw-2088">Mosman</a>,&nbsp;off Military Road and near Spit Junction. Residents will have easy access to the vibrant lifestyle that Mosman offers, with its boutique shops, upscale dining, and proximity to scenic waterfronts.

Earlier this year WINIM launched <a href="/new-apartments/huntington-cremorne-13-15-allister-street-cremorne">Huntington Residences</a> in <a href="/new-apartments/cremorne-nsw-2090">Cremorne</a>, another boutique development of just 13 apartments.

Read more:&nbsp;<a href="/news/nsw/winim-reveal-huntington-residences-cremorne-luxury-apartment-development">WINIM reveal Huntington Residences, Cremorne luxury apartment development</a>

[smartcode_project_cta:default project_id=144056]

Kléo Mosman enjoys a central location in cosmopolitan Mosman, off Military Road and near Spit Junction

Staff Writer

WINIM launch second apartment development in 2024 as Kléo Mosman hits the market 

Sydney apartment developers are feeling confident in 2024.

That's been the headline from conversations in the first six weeks of the year from developers across Sydney. Just as importantly, that's been the feedback from the project marketers too.

Read more: <a href="/news/nsw/how-the-sydney-off-the-plan-apartment-market-is-faring-heading-into-2024">A Project Marketing View:&nbsp;How the Sydney off the plan apartment market is fairing heading into 2024</a>

Joe Nahas, Managing Director at <a href="/developers/coronation-property">Coronation Property</a>, is expecting a strong market this year, however buyers have changed in recent years.

"Buyers are more discerning when it comes to the developer they choose and are not willing to accept anything short of exceptional built quality," Nahas says.

"Buyers today are very different from those five years ago. Buyers are demanding more and wanting to invest in a lifestyle, not just an apartment. They want more space within their homes, seeking residences that are functional and offer an evolving space to grow. They are wanting the resort-style amenities, outdoor spaces and access to shops and dining on their doorstep."

It's placemaking which Coronation are doubling down on currently and in their future pipeline. Having already delivered the successful Paper Mill Precinct in Liverpool, their focus now is on Mason &amp; Main, which will bring Merrylands its largest ever mixed-use precinct, and Ashbury Terraces, a rare proposition in a suburb where apartments and terraces are at a premium.

[smartcode_project:default project_id=31751 project_image_fid=206097]

Coronation has three new projects which are likely to launch this year, the first being <a href="/new-apartments/erskineville-nsw-2043">Erskineville Village</a>.. They also have a <a href="/new-apartments/57-61-archer-street-chatswood">Woods Bagot-designed tower in Chatswood</a> and another project in Ashbury.

"Across all our off the plan projects, we are finding buyers are desiring the best of modern design, quality build, and convenient connectivity," Nahas added.

<a href="/developers/deicorp">Deicorp</a>, one of Sydney's busiest developers year on year, echoed the sentiment. Deicorp's Executive Manager Robert Furolo said&nbsp;the signs are positive that 2024 will be a strong year both for buyer inquiries and conversion to sales in the apartment market.

"Young families, professional couples, and downsizers are all still looking for the lifestyle benefits of convenient and affordable apartment living," Furolo said.

"Together with the ongoing undersupply of new properties in the market, and the return of investors, we are confident of finding buyers for every new home we build and deliver."

Deicorp has just launched their first new project of 2024, <a href="/new-apartments/cosmopolitan-by-deicorp-parramatta-34-hassall-street-parramatta-nsw-2150">Cosmopolitan by Deicorp</a> in <a href="/new-apartments/parramatta-nsw">Parramatta</a>. The two 46-level, side by side towers designed by Turner Studio will home over 600 apartments above retail in the heart of Parramatta on Hassall Street.

[smartcode_project:default project_id=138590 project_image_fid=236113]

Deicorp will also look to launch <a href="/new-apartments/marquet-mary-rhodes-1-9-marquet-street-rhodes-nsw-2138">Marquet &amp; Mary</a>, their $310 million,&nbsp;<a href="/architects/fk-australia" target="">Fender Katsalidis</a>-designed mixed-use tower in&nbsp;<a href="/new-apartments/rhodes-nsw-2138">Rhodes</a>, some 214 apartments across 32 levels, while later this year their Melrose Park masterplan is expected to kick off.

Deicorp is working with PAYCE to create a&nbsp;<a href="/news/nsw/deicorp-and-payces-melrose-town-centre-plans-revealed">new $700 million Melrose Town Centre</a>, which will turn a 55-hectare patch of dirt just&nbsp;outside of Parramatta into a fully mixed-use community.

Turner Architects has drawn up the plans which will see just under 500 apartments delivered across&nbsp;six buildings, as well as commercial, retail, a child care centre, and medical premises in the podiums.

Not to forget Deicorp's current pipeline. They'll be completing&nbsp;construction on&nbsp;<a href="/buildings/downtown-zetland-106-116-epsom-road-zetland">Downtown Zetland</a>&nbsp;and&nbsp;<a href="/new-apartments/the-ashford-castle-hill-25-ashford-avenue-castle-hill">The Ashford</a>&nbsp;in&nbsp;<a href="/new-apartments/castle-hill-nsw-2154">Castle Hill</a>, as well as&nbsp;the first stage of their&nbsp;<a href="/new-apartments/tallawong-village-rouse-hill-shop-30-12-conferta-avenue-tallawong">Tallawong Village&nbsp;</a>project near the Tallawong Metro Station. They will also launch a new release of apartments in the 430-unit&nbsp;<a href="/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill">Hills Showground Village</a>&nbsp;development, also in Castle Hill.

[smartcode_project:default project_id=133881 project_image_fid=209816]

Lower North Shore developer <a href="/developers/hyecorp-property-group">Hyecorp</a> saw success over the break at their under construction <a href="/new-apartments/st-leonards-nsw-2065">St Leonards</a> project, <a href="/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">Audrey</a>.

Hyecorp Sales Director George Benlian secured the sale of an apartment with the highest price per square metre rate within the building.

“As January unfolded, the off the plan apartment market embarked on its annual dance of unpredictability," Benlian said.

"The month, typically characterised by a lull in activity due to holiday festivities, didn't deter the stream of inquiries. Although many potential buyers were still immersed in their vacation mindset, the real action was set to unfold upon their return to the daily grind."

[smartcode_project:default project_id=110379 project_image_fid=209058]

Benlian said while the majority of purchasers hailed from the local area, some buyers have made the decision to downsize from the Hills District and relocate closer to the city.

"The strategic location of Audrey St.Leonards emerged as a key selling point, positioned opposite the scenic Newlands Park and a mere 400 meters away from a conveniently accessible train station.

"These factors contributed to Audrey's appeal, attracting a diverse range of buyers seeking not only a property but also a lifestyle upgrade."

[smartcode_project:default project_id=110379 project_image_fid=206935]

Benlian believes the economic data which has emerged this year will spur buyers on later in 2024.

"The anticipation of this positive shift in the economic landscape will be encouraging more individuals to make their move in the property market, setting the stage for an optimistic outlook in the coming months."

Hyecorp recently launched <a href="/new-apartments/juliet-roseville-64-pacific-highway-roseville">Juliet</a>, their boutique 35-apartment project in <a href="/new-apartments/roseville-nsw-2069">Roseville</a>.

Read more:&nbsp;<a href="/news/nsw/hyecorp-reveal-latest-north-shore-apartment-development-juliet-roseville">Hyecorp reveal latest North Shore apartment development, Juliet Roseville</a>

The Developer View: How the Sydney off the plan apartment market is faring heading into 2024

With the limited availability of oceanfront properties in the beachside hotspot of Manly, opportunities like Iris Capital's Oceania, directly across Manly Beach, are hard to come by.

The ocean-facing Oceania, at <a href="/new-apartments/oceania-42-north-steyne-manly">42 North Steyne</a>, comprises only seven three and four-bedroom apartments, just two per floor.

Designed by <a href="/architects/squillace-architects">Squillace Architects</a>, Oceania is characterised by soft curves and free-flowing balconies inspired by the natural forms and movement of its surroundings.

The interiors at Oceania redefine laidback luxe, with each apartment exuding a penthouse-like feel.

<img alt="Oceania Spotlight" data-entity-type="file" data-entity-uuid="a4afc3f6-dd2d-4763-859f-6ea33c96c8ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Oceania%20Living.png?VersionId=dDHU8Mah_dNr3Fj8TmcVNltsdnCmFnf2" />

"The residences at Oceania celebrate the beauty and elegance of every detail, creating spaces that are refined and of the highest possible quality," says Vince Squillace.

Each residence features a separate study area, additional multipurpose TV room, wine cellar, and en-suites to every bedroom.

Chevron timber flooring, low-line joinery, and polished plaster define the living spaces.&nbsp;

The kitchens are well-equipped with European Wolf and Liebherr appliances, feature a curved natural stone island benchtop, and are complemented by a butler’s pantry.

The spacious master bedrooms have generous walk-in robes with a natural woven rattan inlay, ensuites, and private balcony access.

<img alt="Oceania Spotlight" data-entity-type="file" data-entity-uuid="0e5e706f-08ac-410e-844c-060c44154698" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Oceania%20BDRM.png?VersionId=NlGSrsFQgTU0PRD9cKkei2BE2PufvdBS" />

Crowning Oceania is a whole-floor penthouse, featuring a wrap-around balcony with a private pool and spa, outdoor shower and powder room, built-in barbecue, and Arizona-inspired landscaping.

Penthouse residents will also enjoy their private lobby and access to balconies on either side of the apartment, providing panoramic views of the surrounding coastline.

All units come with two secure underground car spaces and extra storage.

Oceania is just minutes from the <a href="/new-apartments/manly-nsw-2095">Manly</a> Wharf, where a fast ferry can take residents to Circular Quay in just 30 minutes.

<a href="/developers/iris-capital">Iris Capital</a>, led by Sam Arnaout, also owns Manly's Hotel Steyne. They are currently developing <a href="/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach">Victoria &amp; Albert</a>, a landmark $800 million precinct in <a href="/new-apartments/broadbeach-qld-4218">Broadbeach</a> on the Gold Coast. They also are working on <a href="/new-apartments/queensgate-18-32-darlinghurst-road-potts-point">Queensgate in Potts Point</a> and <a href="/new-apartments/east-end-newcastle-143-hunter-street-newcastle">Newcastle's transformative East End community</a>.

Iris Capital, led by Sam Arnaout, also owns Manly's Hotel Steyne

Iris Capital launch luxe Manly beachfront apartment development, Oceania

Global architectural firm BVN has won the City of Sydney Council’s Design Excellence Competition for its design of Buildings G and H in the Ashmore Estate, part of the $1.5 billion Erskineville Village urban renewal project by Coronation Property.

Located four kilometres from Sydney's CBD, the Erskineville Village project at 155 Mitchell Road is set to transform the 50,000 sqm former industrial site into a vibrant community hub, delivering approximately 1,000 Build-to-Rent (BTR) residences, six boutique terraces and premium retail, dining, and public amenity spaces.

The significant development is positioned to play a vital role in addressing Sydney's housing shortage by bringing a dynamic range of high-quality rental residences into the market.

As the last remaining section in the Ashmore Estate, the design for Buildings G and H will complete the significant master-planned urban regeneration.

<img alt="BVN winner of Coronation's $1.5B Erskineville Village urban renewal project" data-entity-type="file" data-entity-uuid="5f180431-4d97-47d2-bc58-1a48fa710cc4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mitchell%20Road%20Erskineville%20Design%20-%20Perspective_0.png?VersionId=fD4KKHZWWItZd9A4v6D80_98u9p.zxoe" />

BVN’s winning submission will house over 380 studios, 1, 2 and 3-bedroom apartments, complete with a communal hub filled with extensive resident amenities. These include co-working spaces, community rooms, swimming pool, alfresco dining areas spread over multiple levels, large landscaped outdoor retreats with outdoor kitchens plus wellness facilities including a yoga studio and sauna.

BVN’s design envisions a porous and well-connected neighbourhood, with a finer urban grain facilitating pedestrian movement and interaction. It anchors the development in its location through a constructed landscape that reflects the site's geology and industrial past, using materials and planting to tell the area's regenerative story.

Joseph Nahas, Coronation’s Managing Director, says Coronation is committed to the Erskineville community and delivering a quality, community-led precinct.

"We’re excited about our first partnership with BVN, not the least because it marks the final step in Erskineville Village’s urban transformation plan.

“This is a significant milestone in the $1.5 billion redevelopment project, which will deliver extensive retail, the future 7,500 sqm McPherson Park and Kooka Walk, a 20-metre-wide pedestrian-friendly walkway.

“The Erskineville Village precinct will also deliver approximately 1,000 Build-to-Rent (BTR) residences through our sister brand Nation, offering housing choice and diversity on the City of Sydney’s fringe.”

Nation, which is launching its first two buildings next month in Merrylands and Parramatta City and projected to deliver around 1,500 apartments by 2025, will also operate the five BTR residential buildings with the precinct.

<img alt="BVN winner of Coronation's $1.5B Erskineville Village urban renewal project" data-entity-type="file" data-entity-uuid="7d3d4e36-d940-4a6f-9737-1be1a8cf7151" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mitchell%20Road%20Erskineville%20Design%20-%20Pool%20View.png?VersionId=o6qNOXhHD.Z9Rb.yMoLuSjf4nNd5P6Tr" />

BVN Principals Phillip Rossington and Peter Titmuss shared their vision for the project, focusing on creating a sense of community, incorporating native landscapes, and drawing design inspiration from the site’s industrial past.

“BTR projects like this should prioritise elevating the resident experience beyond the lobby and their front door," Rossington said.

"There is a real opportunity to design for higher density that fosters social connection and builds community.

“The transition from a place for industry back to a place for people will be both transformative and regenerative."

The entire Erskineville Village precinct will be completed by 2026.

&nbsp;

[smartcode_project_cta:default project_id=143114]

Joseph Nahas, Coronation’s Managing Director, says Coronation is committed to the Erskineville community and delivering a quality, community-led precinct

BVN win design comp for Coronation's $1.5 billion Erskineville Village urban renewal project

Renowned developer Poly Global is nearing completion of its transformative master plan development Spring Square by Poly, an exciting investment opportunity nestled in the lively suburb of Bankstown.&nbsp;

Located on a 46,400 sqm site at 32 Kitchener Parade at the site of an old RSL, the Scott Carver-designed <a href="/buildings/spring-square-by-poly-bankstown-32-kitchener-parade-bankstown">Spring Square</a> comprises 516 apartments across five towers over significant retail and commercial space.

Spring Square is strategically positioned within the evolving health precinct of Bankstown. As the region undergoes significant transformation, the development is poised to become a key player in supporting the growing healthcare needs of the community.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=245520]

The $2 billion redevelopment of the Bankstown CBD will see it become the hub of the west.

The City of Canterbury <a href="/new-apartments/bankstown-nsw-2200">Bankstown</a> is committed to a $1.3 billion development of health services in Bankstown, including the construction of a new hospital, with expected completion in 2029. It will become a leading link&nbsp;between other health precincts in the region, connecting areas like Liverpool, Randwick, Westmead, and St George.&nbsp;

The new $340 million high-rise Bankstown City campus of Western Sydney University in Bankstown adds another layer of appeal to Spring Square.

The 18-storey campus comprises 26,000 square meters of state-of-the-art facilities with a focus on technology-rich learning environments.

The Bankstown City campus will offer undergraduate and postgraduate courses in various fields, including teacher education, psychology, arts and humanities, business, accounting, IT, and non-clinical health areas.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=245535]

The curriculum and facilities are tailored to address the needs of the fast-growing Canterbury-Bankstown and southwest Sydney regions, with a focus on health, advanced manufacturing for small and medium enterprises, and education.

The Bankstown City campus is expected to deliver approximately $140 million a year in additional economic uplift to the Canterbury-Bankstown and Western Sydney region.

Further contributing to the investment proposition is Australia's prominent retail property group Vicinity Centres' $1 billion investment in the Bankstown region.

Vicinity Centres envisions a 30-year redevelopment plan for 11.4 hectares of central Bankstown, aiming to create a mixed-use urban neighbourhood.&nbsp;

The project, known as Bankstown Central, includes the addition of at least 19 towers around the existing central shopping centre.

The early plans for the $1.3-billion redevelopment include 1255 residential apartments, 439 hotel rooms, 694 student accommodation units, about 90 serviced apartments, 120,000 sqm of commercial space, and 15,000 sqm of new retail.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=245534]

The existing shopping centre, built in 1966, houses anchor tenants such as Myer, Target, Big W, Kmart, Woolworths, Dan Murphy’s, and Coles.

The redevelopment is expected to bring economic benefits, with the potential to generate an additional $88 million in retail spending, supporting existing retailers and new local businesses.

Situated at the northern end of Bankstown's commercial precinct, Spring Square by Poly is also strategically positioned to benefit from the renewed Canterbury-Bankstown to Sydenham corridor and the new Sydney Metro train line, just 300 metres away.

Sydney Metro aims to deliver quick and reliable turn-up-and-go services between Sydenham and Bankstown by late 2025.

[smartcode_project:default project_id=7054 project_image_fid=245522]

Infrastructure spend tends to lead to increased price growth, which is why investors have turned their eye to Spring Square by Poly, which in itself is a mini community with extensive retail and commercial spaces.

The masterplan features retail shops, a 684 sqm health services facility, a childcare centre, and a spacious basement car park with 714 parking spaces.

Residents of Spring Square will enjoy communal spaces, interconnecting walkways, and green parks, fostering a sense of community and well-being. The inclusion of a garden, small cafes, bars, and outdoor al fresco dining options adds to the lifestyle appeal of the development.

[smartcode_project_cta:default project_id=7054]

[smartcode_project:default project_id=7054 project_image_fid=245535]

Infrastructure spend tends to lead to increased price growth, which is why investors have turned their eye to Spring Square by Poly

Spring Square by Poly: In the heart of Bankstown's $2 billion CBD redevelopment

Underlying land value, scarcity factor and desire for more space through the pandemic has led to a substantially larger rise in house values relative to unit values over the past four years, property data analytics firm CoreLogic says.

At the onset of the pandemic in March 2020, the house premium, or the difference between median capital city house and unit values, was just 16.7%. Fast forward almost four years later, and that premium has jumped to 45.2% or $293,950.

CoreLogic&nbsp;research director, Tim Lawless,&nbsp;said while houses have historically attracted a price premium over units, and have shown a higher rate of capital gain, several factors have led to the accelerated value growth for detached dwellings over recent years.

“The house premium rose sharply through the pandemic upswing as more people sought out space and were more willing and able to live further afield in our cities," Lawless said.

"While we saw the premium contract through the early part of the rate hiking cycle as house values fell more than unit values, across the combined capitals the gap between house and unit values has since rebounded to a new record high as house values once again rise at a faster pace than units.”

<img alt="CL chart" data-entity-type="file" data-entity-uuid="2ef56cfb-232c-400f-93a3-8c575ca2bf77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-21%20at%206.40.50%20am.png?VersionId=XKlBupTQ_38ULQhrLobRRv1SqjnhH6Nr" />

Since the onset of the pandemic to January this year, capital city house values have increased by 33.9% or by $239,000. Unit values over the same period are up 11.2% or $65,235.&nbsp; A similar trend has played out over the past 12 months with house values up 11.0% ($93,552) while unit values are up a lesser 6.9% ($41,789).

Across the capital cities, Sydney has seen the largest expansion in the house premium since the pandemic, with the gap between house and unit values widening by almost 36 percentage points, catapulting it from sixth to first position on the premium leagues table. Melbourne, Perth, Adelaide and Brisbane have all seen their house premium grow between 15 and 16 percentage points over the same period, while Darwin has seen its house premium reduce by -12.2 percentage points.

“Over the past 12 months, we see a different picture. While Sydney tops the table again for largest 12-month change in premium followed by Canberra, several cities have seen the premium shrink back a little, including Brisbane and Adelaide. This could be reflective of homebuyers seeking out more affordable housing options, which has diverted more demand towards units,” Lawless said.

<img alt="CL chart" data-entity-type="file" data-entity-uuid="06b543c3-41b0-4bad-bdf1-dd9ca198753f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-21%20at%206.45.02%20am.png?VersionId=ZgGub1RXC70wHsml9Z.EoPFKXRZYhE8C" />

Since the onset of the pandemic to January this year, capital city house values have increased by 33.9% or by $239,000. Unit values over the same period are up 11.2% or $65,235.&nbsp; A similar trend has played out over the past 12 months with house values up 11.0% ($93,552) while unit values are up a lesser 6.9% ($41,789).

Across the capital cities, Sydney has seen the largest expansion in the house premium since the pandemic, with the gap between house and unit values widening by almost 36 percentage points, catapulting it from sixth to first position on the premium leagues table. Melbourne, Perth, Adelaide and Brisbane have all seen their house premium grow between 15 and 16 percentage points over the same period, while Darwin has seen its house premium reduce by -12.2 percentage points.

“Over the past 12 months, we see a different picture. While Sydney tops the table again for largest 12-month change in premium followed by Canberra, several cities have seen the premium shrink back a little, including Brisbane and Adelaide. This could be reflective of homebuyers seeking out more affordable housing options, which has diverted more demand towards units,” Mr Lawless said.

Across the combined capitals, five of the suburbs with the largest house premium are in Sydney, three are in Melbourne and two in Perth.

Lawless said many of the suburbs with the largest house premium are very affluent markets.

“In Sydney the largest premium for a house is at Bellevue Hill with a 525% premium for houses over units.&nbsp; In Melbourne it is Armadale with a 372% premium and in Perth it is Mosman Park with a 431% premium. Homebuyers attracted to these blue-chip suburbs who can’t afford a freestanding home may be attracted to the significantly more affordable price point to get into a high-end suburb,” Mr Lawless said.

<img alt="CL chart" data-entity-type="file" data-entity-uuid="2890b787-a9a7-4306-91c0-91aa2e215fde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-21%20at%206.43.51%20am.png?VersionId=m_2KHWrouRdYpdfXjc7V6U7flkLd0Mjy" />

“Conversely, the suburbs with the smallest differential in price between a house and unit may offer good buying opportunities for those able to stretch themselves to secure a piece of land without the hefty premium we’re seeing more broadly across many parts of our cities. With houses typically yielding a stronger capital gain outcome over time, these suburbs with a lower house premium could be strong investment opportunities.”

Lawless says house prices have moved out of reach for a growing portion of the population, especially those seeking a first home or lower income households.

"With housing affordability remaining a key challenge across Australia, the substantially lower price points across the medium to high density sector are likely to become increasingly in demand as buyers become more willing to sacrifice space for proximity to essential amenities."

"With housing affordability remaining a key challenge across Australia, the substantially lower price points across the medium to high density sector are likely to become increasingly in demand as buyers become more willing to sacrifice space for proximity to essential amenities."

High density sector to become more attractive as gap widens between house and unit prices: CoreLogic

Prominent Cronulla developer Sammut Group has kicked off construction at its highly anticipated mixed-use development, VUE.

VUE, a transformational project on a 5225 sqm site at <a href="/new-apartments/vue-3-23-kingsway-cronulla">3-23 Kingsway</a>, is set over two eight-storey buildings over a double-storey podium. The development will include 112 apartments, 880 sqm of commercial space and 3000 sqm of retail space including Harris Farm Markets.

The $350 million mixed-use project, to be delivered with venture capital partner Alceon Group, marks a significant milestone for Cronulla, representing the first urban renewal development since Northies Hotel in 1999.

The project is due for completion by late 2025.

[smartcode_project:default project_id=106933 project_image_fid=253675]

<a href="/developers/sammut-developments">Sammut Group</a> Chief Executive Officer Allen Sammut said VUE is set to enhance Cronulla’s coastal identity and future-proof the area for years to come.

“We believe in respecting the history of <a href="/new-apartments/cronulla-nsw-2230">Cronulla</a> while steering it towards a thriving future,”&nbsp;Allen said.

“VUE demonstrates our commitment to preserving the community’s spirit while introducing enhancements that will benefit residents and locals alike.

It’s not about changing what we know and love, it’s about enhancing the area’s unique qualities.”

As Sammut Group’s largest project to date, VUE has attracted a diverse mix of interest with 30 apartments snapped up pre-launch and all one-bedroom apartments are sold out. The overall of the buyer mix has been from&nbsp;local professionals, downsizers and first home buyers.

[smartcode_project:default project_id=106933 project_image_fid=253677]

The 112 apartments are made up of 25 one-bedroom and 30 two-bedroom apartments, the latter starting from $2,115,000. the 51 three-bed units start from $3,215,000. There are just six three and four-bedroom penthouses.

Designed by <a href="/architects/pbd-architects">PBD Architects</a> with interiors by <a href="/interior-designers/mim-design">Mim Design</a>, the project has a resort-style feel featuring a large communal terrace with a pavilion and pool, sauna and open-air gym located at podium level, while street-level landscaping and upgrades to the public domain will bring new vitality to the daily experience of the area.

&nbsp;

[smartcode_project:default project_id=106933 project_image_fid=253676]

Vue Cronulla will be delivered by multi-award-winning, iCIRT-rated construction firm <a href="/new-apartments/vue-3-23-kingsway-cronulla">Decode</a>, who is responsible for more than 33 projects across the full spectrum of sectors including the landmark mixed-use project Burwood Grand, which was recently awarded the 2023 Urban Taskforce Best Mixed-Use Development Award.

Decode Founder and Chairman Sam El Rihani said his team is excited to deliver an iconic project for Cronulla.

“We are honoured to be entrusted with the delivery of VUE, a project that is set to redefine Cronulla’s Northern Gateway and contribute to the area’s transformation,” El Rihani said.

“Sammut Group continues to set the bar for design excellence and VUE is evidence of that, with beautiful architecture and considered design that will benefit the residents and the local community.”

[smartcode_project:default project_id=106933 project_image_fid=253679]

The project sits 500 metres from another major Sammut Group development, PARC, a commercial building and hospitality venue PARC Pavilion which Sammut Group will operate in partnership with leading hospitality group Feros Group.

Sammut Group Chief Operating Officer Julian Sammut said he is thrilled to see the momentum for two significant Sammut Group projects.

“With our PARC development progressing and construction now kicking off at VUE, our vision to ‘bookend’ Cronulla Mall with the highest level of design quality is soon to become a reality,” Julian said.

“We’re excited to see these two very significant projects generate vibrancy and buzz for the area.”

[smartcode_project:default project_id=106933 project_image_fid=253678]

Sammut Group has sold 80 per cent of the commercial suites to locals keen to secure convenient modern office space and continues to field strong enquiries from speciality food and beverage operators looking to neighbour the flagship Harris Farm Markets.

<a href="/project-marketer/highland-project-marketing">Highland</a> CEO David Highland said the strong interest in the residential, retail and commercial spaces at VUE demonstrates the local appetite for a modern and fresh development in a desirable location.

“We’ve seen a consistent flow of enquiries and sales across all components of the development, with locals eager to live or work at VUE and enhance their quality of life,”&nbsp;Highland said.

“To see strong interest in the commercial and retail spaces two years out from the project completion shows how in demand this location is.

“With Sammut Group’s project portfolio predominantly located in Cronulla, prospective buyers and tenants can see Sammut Group’s commitment to elevate the area through its developments, consistently setting out to deliver high-quality spaces with the signature coastal-luxury style.”

[smartcode_project_cta:default project_id=106933]

Highland CEO David Highland said the strong interest in the residential, retail and commercial spaces at VUE demonstrates the local appetite for a modern and fresh development in a desirable location

Sammut Group kick off construction of game-changing Cronulla precinct, VUE

Chinese developer Bridgehill Group is continuing to inject new apartment supply to Zetland's Green Square precinct.

They've just launched LUNA, which accompanies their already completed <a href="/buildings/uno-green-square-105-115-portman-street-zetland">UNO</a> and <a href="/new-apartments/jade-apartments-113-portman-street-zetland">Jade Apartments</a>&nbsp;buildings, as well as their under construction <a href="/new-apartments/alba-zetland-499-botany-road-zetland">ALBA development</a> next door at 499 Botany Road.

<a href="/new-apartments/luna-499-botany-road-zetland">LUNA</a> comprises 230 one, two, and three-bedroom apartments and penthouses spread across a ten-level building designed by <a href="/builders/mhn-design-union">MHN Design Union</a>.

<img alt="LUNA" data-entity-type="file" data-entity-uuid="eb69c14c-7a65-458a-8604-c89ff0e22b9f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-20%20at%202.48.32%20pm.png?VersionId=79dVxNJvuWnRERr177NKAHyyNne_sWBy" />

The building's facade is characterised by striking masonry columns reminiscent of the Heritage Architecture that was once prevalent in the neighbourhood.

Each apartment features open living and dining areas leading to deep balconies with district outlooks, complemented by oversized windows flooding the space with natural light and framing neighbourhood views.

<img alt="LUNA Zetland" data-entity-type="file" data-entity-uuid="53a112fe-9fa0-4ef5-a3fd-fd0cbcfcc245" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-20%20at%202.48.21%20pm.png?VersionId=DMn1IQihMJ7scKU5NlRIYufI6W_OZBDV" />

The master bedrooms are oriented towards open spaces, maximising exposure to sunlight and breezes.

LUNA will offer a variety of amenities, including a 700 sqm landscaped rooftop terrace with BBQ facilities, a community lounge, a shared EV charging station, and a pet wash bay.

<img alt="LUNA" data-entity-type="file" data-entity-uuid="8b642ba8-5be2-47dc-8b84-14a661c749d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-02-20%20at%202.48.14%20pm.png?VersionId=.eZpkPTwe4yphJWWk857rqvde.OKgd0p" />

The <a href="/new-apartments/zetland-nsw-2017">Zetland apartment development</a> is strategically located near Gunyama Park Aquatic &amp; Recreation Centre, Drying Green Park, and Green Square's primary school, with easy access to the Green Square Train Station.

Under construction by <a href="/builders/westbourne-constructions">Westbourne Construction</a>, LUNA is slated for completion in Q3 2024.

<a href="/developers/bridgehill-group">Bridgehill Group</a>&nbsp;has over $2 billion worth of development either complete or under construction. They have a portfolio of 1,800 residences either completed or under development.

Under construction by Westbourne Construction, LUNA is slated for completion in Q3 2024

Bridgehill Group release latest instalment of Zetland precinct, LUNA

Joint venture partners Central Element and Develotek have broken ground on their luxury Drummoyne harbourfront apartment development, Bianca Drummoyne.

iCIRT-rated Sydney builder <a href="/builders/trescon">Trescon</a> will deliver what will be Central Element's first project in the inner west. <a href="/new-apartments/bianca-drummoyne-2c-2d-wolseley-street-drummoyne">Bianca Drummoyne</a> will comprise just 12 three and four-bedroom waterfront residences.

Bianca is the first new waterfront project to be released in Drummoyne since 2020, located in an elevated position on the northern edge of the peninsula with water views of <a href="/new-apartments/drummoyne-nsw-2047">Drummoyne</a> Bay, out to the harbour and the city skyline.

[smartcode_project:default project_id=139660 project_image_fid=253656]

&nbsp;

&nbsp;

Trescon has strong experience across a diverse portfolio of projects with a passion for high-end luxury residences. They restored and renovated a 1928 Wunulla Road, Point Piper residence led by architect Richard Stanisich which sold for $69 million.

Multi-disciplinary architecture and design firm <a href="/architects/sjb-architects">SJB</a>, one of Central Element's long-standing design partners having also designed Pienza Neutral Bay and Ethos Chatswood, handled the architecture at Bianca.

[smartcode_project:default project_id=139660 project_image_fid=253659]

Nathan Chivas, Managing Director of <a href="/developers/central-element">Central Element</a>, said CE seek out exceptional sites in premium suburbs to build luxurious living spaces of the highest quality that establish new benchmarks for their respective areas.

"It is important that we have partners who really share in our vision, and we have no doubt that with Develotek, Trescon and SJB on board, we will create something truly remarkable with Bianca.”

Read more:&nbsp;<a href="/news/nsw/the-story-behind-central-elements-push-for-ultra-luxury-in-sydneys-best-suburbs-five-minutes-with-managing-director-nathan-chivas">The story behind Central Element's push for ultra-luxury in Sydney's best suburbs: Five minutes with Managing Director Nathan Chivas</a>

Local downsizers and empty nesters have been the most active buyer groups since the project release given the house-size proportions of the apartments, most exceeding 200 sqm.

[smartcode_project:default project_id=139660 project_image_fid=253661]

The apartments offer&nbsp;expansive state-of-the-art kitchens, butler’s pantries and secondary living spaces. Bianca’s rare north-facing position optimises harbour views, with residences boasting 10-13 metres of water frontage.

Recent sales have set record prices for luxury harbourside apartments in Drummoyne, averaging over $40,000 per square metre.

The first release of Bianca is now sold out, with the second release featuring a selection of three and four-bedroom residences now selling through McGrath's agents Tracey Dixon and Rob Alfeldi.

Completion for Bianca is anticipated for mid to late 2025.

[smartcode_project_cta:default project_id=139660]

Completion for Bianca Drummoyne is anticipated for mid to late 2025.

Central Element break ground on Bianca Drummoyne

Project marketers in Sydney are expecting a strong 2024 in the off-the-plan apartment development space.

2023 was one of mixed fortunes in Sydney, given the harbour capital boasts the highest median unit price of any capital by some margin. Impact from rising interest rates is understandably felt more when the price of the property is higher. Buyers at what had previously been entry-level, around the $600,000 mark in most areas within 10 kilometres of the city, were being told they might only now be able to spend $500,000, given the rapid rise in interest rates.&nbsp;

There was a lot of sitting on the fence, particularly from the downsizer market who often aren't in a great hurry to list their family home. They see downsizing as more of a necessity and tend to take longer in their purchasing decisions given their next buy will be more their 'forever home' than the last.

Despite some barriers to entry and hurdles to overcome in 2023,&nbsp;positive sentiment is creeping back into the market. Project marketers are saying that prospective buyers are starting to get wise that, off the back of inflation data and forecasts of the first RBA rate cut later this year, the market is about to boom again.

While those drivers tend to be more closely tied to the established market, a boom there will see the price difference between off-the-plan projects and established housing grow further, making it even more difficult than it already is to buy property in Sydney.

There's the belief that 2024 is going to be a good year for the off-the-plan market, driven by buoyed consumer confidence and the growing gap between supply and demand.

CBRE Managing Director Dave Milton said across the board they're seeing a lot of new enquiries from prospective buyers that they haven't spoken to previously.

"There's an uptick of people who have just started looking and will be looking to transact at some point in 2024," Milton says, adding that enquiry is coming from every demographic, even the expat market in some of their more luxury projects.

Milton says there's been strong buyer demand at Deicorp's <a href="/new-apartments/tallawong-village-rouse-hill-shop-30-12-conferta-avenue-tallawong">Tallawong Village</a> in <a href="/developments/norwest-nsw-2153">Norwest</a>, and <a href="/new-apartments/abbies-lane-8-mccarthy-lane-annandale">Abbie's Lane</a> in <a href="/developments/annandale-nsw-2038">Annandale</a>, of which Milton says is assisted by the starvation of stock in the inner-west.

[smartcode_project:default project_id=106821 project_image_fid=169998]

CBRE will be launching Deicorp's new Melrose Park masterplan later this year, a project that Milton says will somewhat help alleviate the current supply crisis Sydney is facing.

<a href="/project-marketer/colliers">Colliers</a> National Director Residential Blake Schulze&nbsp;says buyers have started to enquire, inspect displays, and most importantly transact, since returning from the summer holidays post Australia Day.

"Those that were actively reserving apartments in the lead up to Christmas have now gone through to unconditional sale, while those who were browsing at Christmas are starting to come down to the displays. Then there's a third cohort who are coming in fresh, assisted by the recent economic data suggesting there will be a rate cut later this year."

[smartcode_project:default project_id=139897 project_image_fid=212566]

Schulze says demand has been far-ranging.

"We're seeing demand across a broad selection of projects, which is always a good sign. It's not just certain markets or locations. A whole range of buyer types are now participating in the off-the-plan space."&nbsp;

<a href="/project-marketer/mcgrath-projects">McGrath Projects</a> Associate Director Adam Sparkes, who is marketing <a href="/buildings/grand-reve-castle-hill-8-18-garthowen-crescent-castle-hill">Grand Reve</a> in <a href="/developments/castle-hill-nsw-2154">Castle Hill</a> as well as <a href="/new-townhouses/yarrabee-152-166-narrow-neck-road-katoomba">Yarrabee</a> in <a href="/developments/katoomba-nsw-2780">Katoomba</a> and <a href="/new-apartments/dara-41-43-kildare-road-blacktown">DARA</a> in Blacktown, says all projects, which offer a very diverse range of stock, are getting results.

[smartcode_project:default project_id=94147 project_image_fid=197727]

"We had good enquiry over the holidays and that's now resulting in sales," Sparkes says of all of his projects.

All the three-bedroom plus study apartments at Grand Reve have been sold, the final one being picked up late last year, so now the attention has moved to the four-bedroom apartments.

Downsizers are showing the most interest at Grand Reve, which is on track for completion later this year. iCIRT-rated building DASCO, on behalf of developer Kassis Homes, has nearly topped out one of the two buildings. Sparkes says the later stages of construction tend to draw downsizers compared to the early stages.

"They're typically the later apartments to go when the building is approaching completion, as downsizers can see a firm and more accurate end date on the project. They can start to engage agents, work out the best time to sell, and move into the apartment after the sale of their family home," Sparkes says.

[smartcode_project:default project_id=94147 project_image_fid=203070]

"We've had downsizers start to look at the four-bedroom apartments at Grand Reve, after selling out all of the three-bedroom plus study apartments late last year.

<a href="/project-marketer/ray-white">Ray White</a> Partner Marcello Bo, who is handling sales at <a href="/developers/stargate-property">Stargate</a>'s <a href="/new-apartments/the-centennial-collection-east-sydney-2-nelson-street-bondi-junction">Centennial Collection</a> in <a href="/developments/bondi-junction-nsw-2022">Bondi Junction</a>, says overall sentiment with buyers is stronger.

"In terms of availability, we're still finding it quite limited," Bo says, adding that it's been the higher price stock which has proven the most popular and has been the easiest to sell.

[smartcode_project:default project_id=136076 project_image_fid=212620]

"With talk of interest rates dropping and the fact they're holding is bringing a lot more confidence. The owner-occupier market is healthy, and that confidence will only increase through 2024."

Ray White has just released a handful of two-bedroom apartments facing the park, as well as the last three-bedroom apartments with city and harbour views.

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