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

Joel Robinson

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

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

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

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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.

Sydney off the plan apartments

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney off the plan apartments

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News