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

Joel Robinson

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

First look: Aqualand joins St Leonards apartment party

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

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

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

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

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

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

Sydney off the plan apartments

The growth in the Sydney unit market looked like it had started to slow in July, following booming gains earlier in the year.

Growth slowed to a still respectable 0.7 per cent, but that followed gains of 1.2 per cent in June and 1.8 per cent in May.&nbsp;

But the latest update in property data analytics firm CoreLogic's Monthly Hedonic Home Value Index showed solid growth of one per cent over August, taking units to a new median $822,000.

Sydney unit values (which includes apartments and townhouses), are now 5.2 per cent up over 2023 and 1.1 per cent compared to this time last year.

Nationally, August marked the sixth consecutive month of housing value recovery.

CoreLogic Research Director Tim Lawless noted the trend in housing values, although generally positive, is diverse.

“Sydney has led the recovery trend to-date with a gain of 8.8 per cent since values found a floor in January this year. Brisbane has also posted a strong recovery with values up 6.2 per cent since bottoming out in February."

Stock levels across Sydney rose in August, up nearly 10 per cent, but they remain lower than they were a year ago.

Read more:&nbsp;<a href="/news/nsw/city-beat-august-2023-sydney-unit-value-growth-softens-as-listings-rise-but-not-in-the-off-the-plan-apartment-market">City Beat August 2023: Sydney unit value growth softens as listings rise, but not in the off the plan apartment market</a>

<h1>What's happening in the Sydney off the plan market?</h1>

Agents are reporting higher demand as we approach the back end of the year, across various different pockets of Sydney and Newcastle.

It's the premium apartments which are selling well, generally because they tend to be bought by downsizers and empty nesters, who either don't require any finance, or not as much, compared to a first home or next home buyer.

McGrath Projects Associate Director Adam Sparkes, who is marketing Grand Reve in Castle Hill, has seen the most recent enquiry coming from well qualified buyers with an intent to purchase.

[smartcode_project:default project_id=94147 project_image_fid=197731]

"We’re getting good enquiry for the over-sized large premium apartments at Grand Reve in Castle Hill, but we’re running low on supply," Sparkes says.

"Buyers looking at our three bedroom plus studies, four bedrooms and penthouses are typically downsizers, most of whom own their homes outright. This particular group of buyers are not affected by the RBA as closely as first home buyers or up-sizers might be."

Interestingly Sparkes is also fielding interest from Australian expats who are seeing value in the Hills area.

"One of our most recent purchasers, a couple living in Singapore, have bought a large two bedroom plus study apartment which may serve as an investment on completion, and longer term as a new home when they return to Sydney. Buyers are now seeing a completion date roughly 12 months from now, and they’re able to work toward that timeline a little easier than they would when construction completion is forecast years from now."

[smartcode_project:default project_id=94147 project_image_fid=203070]

Colliers Director Residential Peter Kerras has found the same levels of demand at the premium end of the market.

"The strong results we’ve seen at Newlands in St Leonards and Newmarket in Randwick are based off low supply and the significantly high house prices in the Lower North Shore and Eastern Suburbs," Kerras says.

Kerras says it's remarkable how resilient the market has been, despite the recent month-on-month rate rises.

"Buyers are now more concerned about where they are going to live. The huge jump in rents across Sydney has fuelled buyer demand, and the first home buyer scheme and NSW Shared equity scheme have assisted this."

[smartcode_project:default project_id=24509 project_image_fid=203622]

Kerras is expecting spring to be busy, with Colliers handling new releases at Alkira Asquith, the final release in the Woolooware Bay masterplan, and The Glade release at Newlands in St Leonards, all of which are set to fuel demand.

It's the same view from the Colliers Newcastle team, with Peter Macadam saying over 2023 he's typically seen buyers downsize in this market.

"Announcements from developers around planning status and constructions contracts will act as further stimulus for projects in Spring, whilst downsizers will be buoyed by the positive impact of the general residential market throughout that period, Macadam says.

Investor interest has been strong, Macadam says, based on the low 1.5 per cent vacancy rate in Newcastle, which is outperforming Sydney's 1.6 per cent vacancy.

"While enquiry level has reduced from the peak, the qualified buyers are still moving forward despite the higher interest rate environment," Macadam adds.

Colliers is set to launch a new project of 230 apartments during spring, pending final development consent by the local council.

Agents are reporting higher demand as we approach the back end of the year, across various different pockets of Sydney and Newcastle.

City Beat August 2023: Downsizers fuel Sydney's off the plan apartment market

New Eastern Suburb developer Toohey Miller has revealed No.1 Onslow Place, its first apartment development in <a href="/developments/elizabeth-bay-nsw-2011">Sydney's affluent Elizabeth Bay</a>.

The project, No.1 Onslow Avenue, named after its prime location just off Arthur McElhone Reserve and a close neighbour to Elizabeth Bay House, comprises just six full-floor apartments with interiors by renowned interior designer David Hicks, the Melburnian's his first high-end project in Sydney

Tzannes Architects designed the building to bring a contemporary yet timeless design to the character of the coveted neighbourhood. The facade features distinctive curved brickwork, reminiscent of the iconic New York City art deco era.

Each apartment features natural oak, double herringbone parquetry flooring and white-honed marble. boasts views across the harbour, with four of the six having different different site aspects.

[smartcode_project:default project_id=141600 project_image_fid=219758]

The living areas with large windows flow onto private wrap-around terraces with unobstructed views of the harbour. Four of the six apartments have two aspects.

Nick Couloumbis, Founder of Toohey Miller, said No.1 Onslow Place was designed not just as a development, but as six distinct and individual living spaces.

“Toohey Miller has curated its consultant team, bringing David Hicks’ European and International flair, combined with Tzannes’ quintessentially Australian architecture, to create an environment that resonates with the legacy of the location while offering a fresh perspective on luxury living.”

“These residences are incredibly rare given their full-floor offering and views - we liken them to a Monet or Picasso. Rarity in property equals exceptional enduring value to future owners.”

[smartcode_project:default project_id=141600 project_image_fid=219762]

Miller says Elizabeth Bay has some of the most beautiful views of the harbour.

"Perched so high, the elevated position of No.1 Onslow Place showcases views that are nothing short of spectacular. Every residence has an incredible view, four with two aspects, so residents can enjoy the tranquility of this picturesque pocket of Sydney. With Arthur McElhone Reserve across the road, juxtaposed by the energy and amenity of Macleay Street, a cosmopolitan playground housing Sydney’s best restaurants and retail stores, Elizabeth Bay has multifaceted allure.”

The penthouse at No.1 Onslow Place spans two floors and offers&nbsp;270-degree views of the ocean. Its upper level is designed for entertainment, featuring a bar and lounge that overlook the vista. The apartment also features a steam room, and its own identity in its finishes with&nbsp;hand-selected green onyx cladding the kitchen, bar and bathrooms. There's a pool on the rooftop.

Dangar Barin Smith's landscape design for No.1 Onslow Place complements the native context of Elizabeth Bay, with references to Arthur McElhone Reserve, harmonising the natural surroundings with the living spaces.

[smartcode_project_cta:default project_id=141600]

Tzannes Architects designed the building to bring a contemporary yet timeless design to the character of the coveted neighbourhood

Toohey Miller reveal Onslow Place, Elizabeth Bay apartments

Ellipse Property&nbsp;has appointed multi-award-winning, iCIRT-rated construction company Decode Group&nbsp;to build Stage One of its $850 million masterplanned <a href="/developments/castle-hill-nsw-2154">Castle Hill</a> community, Carrington Place.

The <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">huge five-building project at 36 Carrington Road</a>, opposite the Hills Showgrounds Metro Station and in the heart of <a href="/developments/castle-hill-nsw-2154">Castle Hill</a>, will comprise 771 apartments when complete in 2032.

The first stage,&nbsp;Atrium, will home 151 of those apartments within one eight-level building which will also home rooftop recreational spaces with views of the surrounding landscape.&nbsp;Atrium&nbsp;will be the gateway to the <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place precinct</a>.

[smartcode_project:default project_id=89496 project_image_fid=216770]

Founder of Ellipse Property, Sam El Rihani, said their&nbsp;decision to partner with Decode for the construction of stage one at <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> underscores a shared mission in delivering excellent built solutions.

“With a proven track record of excellence and reliability, Decode has a history of delivering award-winning residential and mixed-use projects that they are proud to stand behind long after construction completes.

“The attention to detail, commitment to excellence and dedication to quality aligns seamlessly with our vision for <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> as the future heart of the <a href="/developments/castle-hill-nsw-2154">Castle Hill</a> Showground."

Ellipse and Decode have worked together on projects in Homebush and Miranda previously.

[smartcode_project:default project_id=89496 project_image_fid=216769]

Decode was one of the first 20 businesses to receive a Gold Star iCIRT Rating in NSW. The company was in the very first group to be rated when the rating system was unveiled by the Office of the NSW Building Commissioner in May 2022.

Providing an unbiased and independent review of an organisation, an iCIRT rating is obtained through a thorough assessment of all aspects of a business, aimed at building transparency in the industry and trust with the Australian families and individuals looking to buy-off-plan.

Decode Director Divya Mehta said the appointment for <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> was a big step forward for Decode

“Decode is delighted to be appointed as the builder on stage one of the landmark <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> master-planned, multi-staged project.

"As one of the largest new residential projects in the Hills District it is a significant step forward for Decode and we’re ready to set the benchmark for modern living in Castle Hill. We are committed to delivering excellence in construction and look forward to working closely with Ellipse to realise their vision of a community focused and sustainable lifestyle with stage one, Atrium."

[smartcode_project:default project_id=89496 project_image_fid=216764]

Decode recently won the 2023 Urban Taskforce Development Excellence Award in the Mixed-Use Development category for the construction of its Burwood Grand residential project in Sydney’s inner west.

Architectural firms&nbsp;Tony Owen Partners and Stanisic Architects worked in collaboration to design <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a>, with the main inspiration coming from the Cattai Creek which runs along the western border of the development.

A key feature of the project will be a one-kilometre boardwalk running the length of the Cattai Creek connecting to Fred Caterson Reserve, a 58-hectare local reserve featuring picnic tables, children’s playgrounds, along with multiple sports facilities.

The project will be home to over 20,000 sqm of&nbsp;outdoor recreational space and gardens, conceived by landscape architect Site Image Landscape Architects, making it one of the greenest master-planned communities in the Hills District.

Carrington Place Project Director Joseph Chiha&nbsp;emphasized that <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> is envisioned as a multi-staged urban village with a strong connection to nature, prioritizing lifestyle, sustainability, and community.

"The project seamlessly blends with the surrounding nature and aims to become one of Sydney's most sustainable urban communities," Chiha said.

Construction on Atrium is expected to commence in Q3 2023, with completed in Q3 2025. The entire five-stage precinct is due for completion in 2032.

[smartcode_project_cta:default project_id=89496]

Decode recently won the 2023 Urban Taskforce Development Excellence Award in the Mixed-Use Development category for the construction of its Burwood Grand residential project in Sydney’s inner west

Decode to construct first stage of $850 million Carrington Place, Castle Hill apartment development

ASX-listed supermarket gaint Coles is seeking to create a new home for itself in Sydney's affluent Neutral Bay, in turn turfing out their fiercest competitor in the process.

They've filed concept plans with the North Sydney Council for a $170 million mixed-use village at 41-53 Grosvenor Street, currently the home of a full-line Woolworths, BWS, and a council car park.

The plans, submitted by Coles Group Property Development Ltd which is directed by Coles CFO Sharbel Elias and Chief Legal Officer David Brewster, include what is described as a new "state-of-the-art Coles supermarket" and a Vintage Cellars, as well as two additional small shopfronts. They will create a landscaped public plaza which will create a landscaped public plaza which will replace the current council carpark.

Above the street will be seven levels of apartments, which will home 72 new apartments. The one-bedroom apartments from 73 sqm, two-bedrooms from 98 sqm, and three-beds from 153 sqm.

There will be two levels of Coles customer basement parking, and a level dedicated to resident parking.

<img alt="Coles" data-entity-type="file" data-entity-uuid="d57df8de-d690-4d03-af7d-b3eb0399a51f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-04%20at%206.42.28%20pm.png?VersionId=gsBJsuv7NbkeQKDoEHzqx64RGBYHQk.w" />

SJB Architects handled the design, suggesting in the plans that&nbsp;Neutral Bay Town Centre will be re-imagined as a vibrant village neighbourhood with a green, porous, flexible and accessible heart.

"Situated right at the heart of Neutral Bay, the site has potential to be a place truly ingrained in the community. A combination of providing much needed public open space, pedestrian connectivity and activation linking to surrounding businesses means Neutral Bay Town Square can be the heart of community geographically and culturally."

They said landscaping plays a vital role in the success of a mixed-use precinct.

"Whether situated on the ground level, roof gardens, or balconies, gardens are essential in enhancing the overall appeal of apartments.

"By serving as an inviting space for residents and acting as a buffer between different users of the site, expansive gardens on the podium roof contribute to the flourishing retail precinct. Additionally, they provide a sanctuary for local birds and insects in the urban environment. These gardens will become a defining feature of the site, offering a unique experience to the public and creating a desirable natural backdrop for the plaza, both at street level and atop buildings."

<img alt="Coles Neutral Bay" data-entity-type="file" data-entity-uuid="1a8c0a8a-15b5-4286-b3e4-bfede3bbdcce" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-04%20at%204.58.43%20pm.png?VersionId=lsv1hYonO7rRm4YA8uXUs2vm_b8TPRlM" />

They suggested the&nbsp;residential component to the new development will sit as a quiet backdrop to public life below.

"Residences located in a mixed-use precinct such as this provide self-serving activation as well passive surveillance and safety of the public domain that it sits within.

"The residential component is critical in establishing an 18hr precinct that is destination throughout varying times of day and night. The residential buildings will also be quiet in their material palette with the opportunity to also incorporate masonry at the upper levels for its high level of quality, craft and familiarity in establishing new homes. In any case the residential components of the building should be light in colour and link themselves to the sky and views beyond the site."

The North Sydney Council is currently preparing a&nbsp;Neutral Bay Town Centre Planning Study, having earlier this year sought feedback from the local community. It will be prepared with input from expert economic, transport and design specialists.

They said the study will guide&nbsp;future development proposals within the centre which may include targeted modest increases in height and density while retaining the village atmosphere.

Above the street will be seven levels of apartments, which will home 72 new apartments

First look exclusive: Coles to turf out Woollies in $170 million Neutral Bay development

Frasers Property Australia and Mitsui Fudosan have established a new joint venture to deliver a further three developments in Frasers Midtown MacPark masterplan.

The duo are already in partnership to&nbsp;deliver MAC Residences, Midtown MacPark’s first development, which is currently under construction.&nbsp;

The three new apartment developments will have an estimated end value of $797 million and will bring their partnership delivery to 1,149 apartments and four terraces across all four buildings.

Mark Gleeson, Frasers Executive General Manager Investments, says the deepening of the partnership with Mitsui Fudosan aligns with Frasers Property’s strategy to leverage capital partnerships to achieve its growth objectives.

“Working together to deliver MAC Residences at Midtown MacPark has demonstrated the strong alignment in values and priorities between Frasers Property and Mitsui Fudosan," Gleeson says.

"This includes our shared commitment to create high-quality, sustainable assets as part of a wonderful community for our customers.

“Our growth strategy is to draw on our core capabilities and leverage the experience of our partners to create premium assets, and to recycle capital to pursue new opportunities aligned with our specialist expertise, particularly in large-scale, mixed-use community development and placemaking."

The partnership with Frasers Property in MAC Residences was Mitsui Fudosan’s first foray into the Australian market. This expanded joint venture at Midtown MacPark is their second.

[smartcode_project:default project_id=29969 project_image_fid=213810]

Kenji Oka, Managing Director of Mitsui Fudosan Australia, said the new relationship makes&nbsp;sense to take their growth in the Australian market to the next level.

Designed by Bates Smart, MAC Residences is the first building at Midtown MacPark and of its 269 apartments, only seven remain unsold. The development has proven popular with first home buyers, young families, singles and couples, downsizers, investors, and more. Completion is scheduled in 2023.

One of the next buildings, Treehouse, is part of the expanded joint venture. That will have 162 apartments and several unique green breakout spaces which give the building its name, as well as around 1,000 sqm of ground floor retail space. Construction is expected to commence in late 2023, with around 43 per cent of apartments sold since launch.

The other two developments in the expanded joint venture are as yet unnamed. One will comprise 268 market apartments, 216 community housing dwellings and four terrace homes, with a targeted sales launch in March 2024. The final building in the joint venture will feature 234 market apartments and is anticipated to be launched in the last quarter of 2024.

[smartcode_project:default project_id=29969 project_image_fid=213805]

All four developments in the joint venture will feature rooftop solar installation and smart meters, and Real Utilities, the wholly owned licensed energy retailing business of Frasers Property Australia, will provide 100% Climate Active-certified carbon neutral energy to the buildings.

Similar carbon neutral innovations are planned for future developments in the community. Frasers Property is targeting a 6 Star Green Star Communities rating for Midtown MacPark and the vision is for the community to be carbon neutral in operation.

To be developed in stages over the next 10 to 12 years, Frasers Property is working with the NSW Government to deliver the $2.2 billion Midtown MacPark masterplanned mixed-tenure community, which will integrate approximately 3,300 apartments with a range of community facilities.

An all-electric mixed-tenure community designed for 100% walkability, Midtown MacPark is a vibrant and inclusive community bringing more open space, new amenity and infrastructure including a central Village Green, pocket parks and playgrounds, cycling and walking trails, a commercial pay-as-you go pool and gym, community centre, as well as shops, cafes and beauty offerings, and so much more. The Village Green, pool, gym and community centre will be delivered in line with the Treehouse development.

[smartcode_project_cta:default project_id=29969]

The three new apartment developments will bring their partnership delivery to 1,149 apartments and four terraces across all four buildings



Frasers and Mitsui Fudosan team up for three more apartment developments at $2.2 billion Midtown MacPark masterplan

Developer&nbsp;New Hope Evergreen&nbsp;has sold three luxury penthouses across its two apartment developments in St Leonards.

They've secured an $8 million sale of The Grand Harbour penthouse in the completed The Landmark development, and two penthouses in their recently launched The Landmark Quarter development nearby.

CBRE's Tim Rees secured the sales of the two Landmark Quarter penthouses, for $9 million and $7.1 million.&nbsp;

“Identified as a new Sydney growth area, St Leonards developments are booming," Rees says.

"The NSW government has now finalised details of its planning changes, bringing 16,500 new jobs and 6680 dwellings into the suburb and neighbouring Crows Nest.

“Developers are acquiring property in the precinct as the state government plans to permit higher height limits, rezoning areas to address Sydney’s housing shortage and allowing more mixed-use developments close to where people want to live with transport, education, restaurants, health and education hubs nearby."

[smartcode_project:default project_id=139897 project_image_fid=212569]

The Landmark Quarter, a collection of three Rothelowman-designed buildings, is located&nbsp;at St Leonards South’s highest point and the new development presents six-star levels of resort-style luxury, including amenities like a cinema, mineral pool, rooftop terrace, dining and games room, gym, hot spa and smart home technology.

Construction is due to commence this year, with completion anticipated for Q1 2026.

Read more:&nbsp;<a href="/news/nsw/a-cinema-swimming-pool-and-billiards-room-inside-the-amenity-laden-st-leonards-off-the-plan-apartment-development-the-landmark-quarter">A cinema, swimming pool, and billiards room: Inside the amenity-laden St Leonards off the plan apartment development, The Landmark Quarter</a>

[smartcode_project:default project_id=139897 project_image_fid=212667]

Peter Pereira, New Hope Evergreen&nbsp;Development Director, said the buyers were local downsizers who chose St Leonards after an extensive search for a penthouse that met their exacting demands for size, finish quality, location, and view.&nbsp;

"Both were further attracted by each development’s separate private parking garage, soon to become home to their respective prestigious car collections," Pereira said.

[smartcode_project:default project_id=139897 project_image_fid=212665]

New Hope Group have invested $1.4 billion in Sydney's Lower North Shore, with most of that concentrated in St Leonards.

Many of the apartments in Landmark Quarter benefit from city and harbour views, which can be taken in from either the balcony or living area, given all apartments have floor-to-ceiling glass doors to the balcony.

The townhouses have three bedrooms, each with their own private entrance.

[smartcode_project_cta:default project_id=139897]

The Landmark Quarter, a collection of three Rothelowman-designed buildings, is located at St Leonards South’s highest point and the new development presents six-star levels of resort-style luxury

New Hope Evergreen secure three penthouse sales across St Leonards

Central Element has continued to pad out its apartment development pipeline with a $51 million purchase of a prime site in <a href="/developments/bondi-beach-nsw-2026">Bondi Beach</a>.

They've secured over 2,000 sqm across 20-22 Sandridge Street and 21 Wilga Street, an amalgamation of six properties across three lots.

The Nathan Chivas-led developer is intending on developing a boutique collection of ultra-premium apartments and houses, with each residences starting from $20 million.

Each residence will include direct access to the Bondi to Bronte coastal walk, expansive outdoor living, swimming pools, secure car parking, and views across the <a href="/developments/bondi-beach-nsw-2026">Bondi Beach</a> to Ben Buckler headland.<a name="m_9038784936690992334__Hlk139531929"></a>&nbsp;

Chivas said the site,&nbsp;on the headland between Bondi Beach and Tamarama Beach, epitomises the very best of the locale, with residential feel just steps away from vibrant Campbell Parade.

“Our latest acquisition marks an important milestone for CE as we enter the tightly held world-famous location of Bondi Beach," Chivas said.

"Among the suburbs bustling development activity, none rival the unique attributes of this parcel of land. Its generous frontages cater to an ultra-premium boutique project, while its elevated position captures truly unparalleled vistas."

The DA is anticipated to be lodged by end 2023, with construction commencing in 2025/2026.

<a data-entity-type="file" data-entity-uuid="96c38639-4d71-4b75-b1ae-15ff6d677433" href="/new-apartments/20-22-sandridge-street-bondi-beach"><img alt="Bondi" data-entity-type="file" data-entity-uuid="96c38639-4d71-4b75-b1ae-15ff6d677433" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-09-04%20at%208.31.36%20am.png?VersionId=xGs5OEqImkaXYruE3RWwYzGvn_WqWd0A" /></a>

The site was sold by Ric Serrao and Alex Lyons from Raine &amp; Horne Double Bay/Bondi Beach. Serrao and Lyons said the Bondi Beach market is one of the most exciting in Australia at the moment, attracting affluent buyers from lucrative industries such as tech, fashion and finance

“We’re seeing apartments commanding more than $100,000 per sqm, with the recent sale of Notts Avenue to Andrew Roberts, former Managing Director of Multiplex, achieving in excess of $125,000 per sqm. Demand for houses is equally buoyant, reflected in the recent sale of 31 Gaerloch Avenue, Tamarama which sold for around $45 million and 12 Bronte Marine Drive in Bronte which fetched around 22.5 million.

The site acquisition comes a few days after CE were <a href="/news/nsw/central-element-to-redevelop-coogees-1860-s-ballamac-house-into-luxury-apartments">green lit for their redevelopment of Ballamac House</a>, the landmark Coogee mansion turned strata building, which they intend on restoring extending into eight luxury apartments. CE are also currently selling Ethos in Chatswood and Bianca Drummoyne on Sydney Harbour.

Chivas said the site, on the headland between Bondi Beach and Tamarama Beach, epitomises the very best of the locale, with residential feel just steps away from vibrant Campbell Parade

Central Element secure prized Bondi Beach site for new apartment development

Premium boutique developer builder Made Property has achieved the highest score to date by the KPMG Origins Building Trustworthy Indicator (BTI).

They scored a BTI 4* on its recently completed Drummoyne apartment development The Isles. It's the first 4+ score received by a development in NSW.

The Building Trustworthy Indicator, created by KPMG Origins with the NSW Office of the Building Commissioner, uses an industry developed calculation by combining data provided by the developer on materials, processes, and participants of a fully constructed building to provide a Trustworthy Indicator score after the issue of an occupation certificate.

BTI differs from other ratings like iCIRT as BTI is focusing on the trustworthiness of the building itself, not the counterparty assessment of builders. BTI is a one-off indicator issued for the building after completion,&nbsp;KPMG Origins’ Lead Partner Laszlo Peter says.

“The Building Trustworthy Indicator shows that a building has been assessed against the best available construction industry evidence and standards. Investors, residents, or future tenants can have a higher level of trust in the building as demonstrated via our industry-developed indicator."

Peter says the Building Trustworthy Indicator is a metric that gives NSW buildings and the construction industry a greater trust and transparency.

Made Property was one of the first developer / builders in NSW to obtain an iCIRT in 2022 for their company. The Isles Drummoyne project is the first to gain a BTI 4* “Leading” indicator.”

<img alt="MADE Drummoyne" data-entity-type="file" data-entity-uuid="1d1ec2c8-9201-4157-a06d-ee7302e94dd2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-30%20at%2012.00.53%20pm.png?VersionId=6VVS8ESKqlcs9RRCVvt.agDO3dOLsPnf" />

Made Property’s Construction Director, Darren Power, said Made Property is delighted to have achieved the highest score received by a builder developer in NSW.

“Our in-house construction team takes tremendous pride and pays meticulous attention to every detail in the construction and delivery of our premium residential projects, ensuring that every step of the process is delivered to the highest of construction standards," Power said.

“The Isles Drummoyne was an exciting project for us to showcase our excellence in design and construction. As a leading builder developer, we are committed to supporting initiatives from the NSW Government that improve the trust and transparency in the residential construction sector.

“We had every confidence that we would receive an exceptional score as our highly experienced and dedicated team delivers residential homes of the highest design and construction standards for our customers. The proof is in the delivery, and we have many happy new homeowners who are delighted with their stunning new harbourfront residences.”

Located on a harbourside plot at the heart of Drummoyne’s highly coveted St Georges Crescent, The Isles comprises a collection of nine luxury waterfront residences with its own secluded beach and private jetty. Designed to balance indoor and outdoor lifestyles, these expansive apartments maximise style and location with generous living and entertaining areas opening to balconies that overlook a secluded harbour garden.

David Chandler, NSW Building Commissioner said Made Property is leading the industry as one of the first trustworthy developers to have both a BTI and an iCIRT rating. &nbsp;

"A growing number of companies like Made Property are embracing the need for industry leaders to show the way, as we all commit to restoring our industry’s brand."

Made Property have recently launched their latest harbourside development&nbsp;Corsa Mortlake, an absolute waterfront residential development positioned adjacent Breakfast Point. The project comprises just 20 luxury three-bedroom apartments and a 23-berth marina.

They're also hoping to complete their Neutral Bay apartment development, Crenelle, by Q3 2024.

Made Property was also one of the first developer / builders in NSW to obtain an iCIRT in 2022 for their company.

Made Property secure KPMG Origins ’Building Trustworthy Indicator’ top score for Drummoyne apartment development The Isles

The redevelopment of the former Balmain Leagues Club has taken a big step forward.

The Inner West Council has signed off on amendments to <a href="/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a>, the new apartment and retail precinct by Sydney developer Heworth. The amendments were to improve the&nbsp;original design scheme, namely changing the retail plaza and designs of the apartments.

<a href="/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a> is set to significantly enhance and complement the local retail precinct and provide a new community hub for the much-loved inner-west suburb.

Read more:&nbsp;<a href="/news/nsw/rozelle-village-set-to-become-the-new-community-hub-of-the-community">Rozelle Village set to become the new community hub of the community</a>

<a data-entity-type="file" data-entity-uuid="677c8560-ff04-485f-9023-513735aa497e" href="/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039"><img alt="Rozelle" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Track%20Listing%20CTA%20template%20-%20landscape%20%283%29.jpg?VersionId=9eqEwt17W270rLBe4o9EIaGTG5QKzI.K" /></a>

The site, located on the prominent corner site of Victoria Road, Darling and Waterloo Streets, was originally approved to develop 167 apartments across three towers, with all buildings connected above a shared retail and commercial podium.

Heworth has worked closely with architecture practice Scott Carver to improve the overall design scheme to ensure the final development will become a welcomed new addition and destination for the local community. The commercial area will include a new, state of the art, Wests Ashfield Leagues Club.

The amendments see apartment numbers drop from 167 to 149, and the mix change to increase the number of&nbsp;two bedroom and three bedroom apartments.

<a data-entity-type="file" data-entity-uuid="b1750562-39c5-440c-842e-7bba96877b01" href="/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039"><img alt="Rozelle" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Track%20Listing%20CTA%20template%20-%20landscape%20%282%29.jpg?VersionId=HZQWX3uf7h3Tj9vFKbATmh_HS_3PkgIL" /></a>

Heworth Head of Property, Chris Walsh said the significant improvements to&nbsp;the overall design scheme will benefit the local community, as well as residents.

“A key focus of our development is a new village square, public plaza and major retail and hospitality podium connected by a series of laneways," Walsh said.

"It’s going to significantly contribute to Rozelle and become a major community meeting place and destination.

“Our apartment mix, now reduced in number to 149, will comprise an increased number of larger two and three bedroom apartments as we feel the larger size floor plates and premium interior architecture, fixtures and fittings, will appeal to discerning local owner-occupiers, particularly downsizers.”

Rozelle Village’s bespoke retail precinct will be anchored by a major supermarket, providing greatly increased convenience to the local area.

Early site works are now underway with demolition planned to commence later in 2023. Rozelle Village is expected to be completed by 2026.

[smartcode_project_cta:default project_id=8142]

Rozelle Village is set to significantly enhance and complement the local retail precinct and provide a new community hub for the much-loved inner-west suburb

Rozelle Village gets closer to launch after improved plans greenlit

TOGA has received development approval for their three-tower Macquarie Park project, Macquarie Rise.

Macquarie Rise, at 122 Herring Road, will be delivered in partnership with Baptist Union NSW and Morling College. It will have three residential buildings, ranging from 12 to 14 levels, rise from a two-level, mixed-use podium with office, retail and residential lobby areas.

There will be 265 one, two, three and four-bedroom apartments, with over half of the units including a multi-purpose room. Residents will have access to a 20-metre lap pool, a club lounge with a work and study area, a pilates studio, gym, and a cinema room.

Turner Studio designed the development, with the interiors handled by Stack Studio.&nbsp;

TOGA has previously developed One Twenty Macquarie next door, Macquarie Green, and Macquarie Central, delivering nearly 1,000 apartments in the area over the past 10 years.

<img alt="TOGA" data-entity-type="file" data-entity-uuid="c8103be7-b4c8-4906-a226-6074416fbc95" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-08-25%20at%203.21.23%20pm.png?VersionId=BeJsxZDrn0cS..tN8PxavfJbD6amawe2" />

Allan Vidor, Managing Director of TOGA, said Macquarie Park has matured as a location in the past decade, now offering residents a cosmopolitan urban centre surrounded by pristine parklands.

"This shift is attracting families to the area, many of whom are opting for apartment living, which allows them to achieve significant value for money in terms of the amenity, location, and lifestyle they can access," Videor says.

“Macquarie Rise caters for these buyers through design features such as additional space in apartments, access to a host of premium work-from-home, health and wellness facilities, as well as the convenience of an activated retail precinct and public plaza at its lower levels."

Mark Bernberg, Managing Director of Ray White Projects Western Sydney who are selling the project alongside TOGA, says the innovative mixed-use residential venture in Macquarie Park is elevating the market appeal for residential real estate in Western Sydney.&nbsp;

Future residents of Macquarie Rise will enjoy views of the Lower North Shore’s pristine, leafy bushlands. Premium shopping destination, Macquarie Centre, Macquarie University, and Macquarie

University Metro station are all within walking distance, only 500 metres away. Karl May, Turner Studio’s Principal, said: “Macquarie Rise will be a desirable new precinct in Macquarie Park providing local retail, services and apartments, with new streets and open space linking to Kikkiya Creek and the surrounding nature. The new park at the centre of the project will be great for exercise, dog walking, recreation and a place for children to play.”

The location offers convenient access to public transport, further bolstered by the new Metro line which opens in 2024 and will provide fast access to Barangaroo and the CBD.

Construction is expected to commence in mid-2024, with completion due at the end of 2026.

Macquarie Rise, at 122 Herring Road, will be delivered in partnership with Baptist Union NSW and Morling College

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