Inside The Latest Luxury Apartments Around Australia
Newly launched projects offer everything from biophilic living to elite concierge services from the bustling Gold Coast to Sydney.
Newly launched projects offer everything from biophilic living to elite concierge services from the bustling Gold Coast to Sydney.
The divide between apartment and house markets has never been greater after the country experienced extraordinary price growth throughout late 2021 into early 2022. Such exponential growth hasn’t been seen in 32 years.
Apartments recorded an annual growth rate of 14.3% in the 12 months to January while house values rose 24.8%, according to CoreLogic’s February Unit Market Update. When combined, it was Australia’s highest annual dwelling growth rate since 1989.
This price disparity represents a unique time for apartment buyers, with prices expected to soar for units given the affordability constraint of houses.
Purchasers of prestige off-plan apartments are spoiled for choice throughout Australia’s booming east coast with new designer developments launching in Melbourne, Sydney and on the Gold Coast—the island nation’s most in-demand market among domestic migrants.
These new-to-the-market homes are a new breed in design, meeting the needs of buyers in a world of work from home demands and shifting lifestyle priorities.
Credit: Macquarie Developments
Nowhere has Australia’s unprecedented regional renaissance been greater than on the Gold Coast in Queensland.
In its Regional Movers Index, a gauge monitoring domestic migration out of the cities, the Regional Australia Institute showed that 11% of all capital city dwellers who made a sea or tree change during 2021 headed to the Gold Coast, Australia’s sixth-biggest city.
The newly launched Assana is a 52-storey, 146-apartment tower by Macquarie Developments located in Broadbeach, right in the heart of the booming Gold Coast region.
Inspired by the Irish first name Assana, which also means “waterfall,” the building has enviable views. Its sweeping vista captures the whole district from the Pacific Ocean, over the Nerang River and out to the lush Gold Coast Hinterland.
Designed by award-winning architect SJB with gardens crafted by landscaper Arcadia, Assana has spacious floor plans mindfully created to minimize the connection with neighbouring and maximize privacy.
In addition to large living zones, the fully equipped kitchens each have a butler’s pantry, there is a personal home cinema, wine storage, home automation and the penthouses even have space for a live-in nanny.
Assana is perfectly positioned for great transport links across the region and local amenities including Broadbeach’s bustling food quarter.
Launched in January, Assana is expected to be completed by the end of 2024.
Number of units: 146
Price range: $800,000 to $4 million to $4.5 million for the Sky Homes, and penthouse prices available on application.
Developers/Architect: Macquarie Developments/SJB architects
Residence sizes: Two- and three-bedroom apartments
Amenities: The resort-style amenities at Assana include a landscaped podium with an infinity pool, a fully equipped gym, spa and sauna plus a residents’ lounge and valet parking.
Just north of the famous Sydney Harbour Bridge, sits North Sydney, a vibrant suburb in the middle of a boom with an estimated 80,000 workers expected to commute to the area by 2036. As a result, private developers and the state government have invested millions of dollars to create urban renewal projects including new parks, pedestrian plazas and laneway networks.
A new $1 billion luxury mixed-use residential development, AURA by Aqualand, will be one of those new kids on the block, located next to the upcoming Victoria Cross train station.
The first stage of Aura will comprise 102 apartments designed by award-winning architecture firms Woods Bagot and Richards Stanisich. Buyers can choose from three colour schemes, dark, mid and light, with each home featuring a palette of marble and mirrored surfaces, glazed walls and translucent screens. Kitchens will have marble counters, rich oak and dark bronze finishes, as well as bronze powder-coated framing in the bathrooms. Aura apartments have unique layouts flowing from open living spaces to winter gardens or balconies. Some will include additional versatile rooms to be used as a secondary living area, office or bedroom.
The Penthouse Collection features a selection of contemporary sky-high homes residents can customize. These Richards Stanisich designs have sweeping city and water views, timber and travertine finishes, and statement fireplaces.
Aura residents will also have access to a concierge service through Aqualand’s new hospitality arm, Etymon Projects, and can indulge in a choice of fine-dining restaurants and bars which will be incorporated into the development.
Stage one of Aura launched to the public in December 2021 with construction already underway and completion expected in 2024.
Number of units: 102 apartments in stage one
Price range: From $995,000 to penthouses ranging between $11 million to $15 million
Developers/Architect: Aqualand/Woods Bagot and Richards Stanisich
Residence sizes: One-, two-, three-, four-bedroom as well as sub-penthouses and penthouses
Amenities: A ground floor indoor pool and gym, a dining and entertainment area, a 26th-floor sky deck with outdoor barbecue facilities, a sun deck and private dining rooms.
Credit: Schacter Group
Fabric by the Schacter Group in Melbourne’s south was inspired by the sea. Cera Stribley Architecture and Interior Design tapped into an appreciation for traditional craftsmanship to create a facade using maritime engineering principles. Influenced by the inverted hull of a ship, Fabric is defined by elegant curved edges and strong linear dimensions.
The lush landscaping throughout Fabric has been underpinned by a biophilic design philosophy so that despite the building’s city-fringe location, its inhabitants can always feel connected to nature. In addition to verdant individual terraces, there are communal gardens and a rooftop alive with edible garden beds and a beehive for residents.
The open-plan living, kitchen and dining zones feature European appliances, cleverly concealed storage and integrated fireplaces. Each apartment has been designed to take advantage of sweeping city views, green outlooks and beams of natural light.
Glen Huntly Road is an evolving hospitality strip with cafes, restaurants and bars, while just a short distance from Fabric there are sprawling parklands, Fabric launched sales in February, and construction is expected to begin in early 2023, with completion expected around the second half of 2023.
Number of units: 54
Price range: $445,000 to $1.8 million
Developers/Architect: Schacter Group/Cera Stribley
Residence sizes: One-, two- and three-bedroom apartments
Amenities: Residents can plug into Fabric’s electric vehicle charging facilities, a communal rooftop veggie patch and beehive, solar heating to reduce bills, heating and cooling connected to smart devices and integrated landscaping on every level.
Set in Sydney’s—and perhaps Australia’s—most exclusive suburb, Piper is a rare opportunity to buy into a tightly held neighbourhood. Just last year a boat shed on almost 2000sqm of waterfront land sold on Wunulla Road for $38.5 million while a contemporary home in a neighbouring street fetched $40 million after only 10 days on the market.
Point Piper is coveted thanks to its unique harbour-front position that allows for postcard views of the city’s greatest landmarks including the Sydney Harbour Bridge to the Opera House.
Piper is a collection of just 15 homes in a boutique development, the first collaboration between developers Fortis and Dare Property Group with interiors created by MIM Design.
The homes promise to be packed with luxurious finishes from brass and platinum touches to bespoke interior lighting and grand floor plans designed for indoor/outdoor living. Each residence has high ceilings and vast windows to bring in natural light while also capturing the lush landscaping by Dangar Barin Smith. There are sophisticated garden grottos and exotic plant choices plus a selection of residences will have private pools.
Sales for Piper launched in March with construction expected to be completed by late 2023 or early 2024.
Number of units: 15
Price range: $4 million to $13 million
Developers/Architect: Fortis and Dare Property Group
Residence sizes: Two-bedroom with study, three- and four-bedroom residences
Amenities: Private pools in select homes, cascading gardens throughout the development, sophisticated grottos and terraces for each residence and five-star European appliances.
In just one decade, Sydney’s harbour-front landscape has been transformed and a major part of that architectural facelift is the multibillion-dollar development, One Sydney Harbour.
Once an uninspiring shipping quarter, the area now known as Barangaroo has become a vibrant district filled with luxury hotels, a world class shopping and dining precinct plus a uniquely vertical residential neighbourhood.
One Sydney Harbour in Barangaroo South is a statement development, which not only turns heads thanks to its dramatic stamp on Sydney’s skyline, but is home to the most expensive individual residence in Australia. That benchmark was set in 2019 when a cashed up buyer paid $140 million for a sub-penthouse and penthouse with the plan to create one three-storey 17,200-square-foot mega apartment in the tallest of developer Lendlease’s three towers.
Now the last chance to buy into the iconic address has arrived with the launch of the final tower in the trio. Watermans Residences at One Sydney Harbour will offer a range of luxury apartments, each opening up to a balcony overlooking either park, harbour or city.
Residents are spoiled for choice with an array of VIP amenities in the development including indoor and outdoor swimming pools, hot tubs, a steam room, private dining spaces, a rooftop terrace and residents’ lounge.
Designed by Pritzker prize-winning architect Renzo Piano, Watermans Residences will house 162 apartments over 30 levels—a boutique build when compared with the 72-storey and 68-storey neighbouring towers.
Listed in February, Watermans Residences is due to reach completion in 2024.
Number of units: 162
Price range: From $1.42 million to prestige residences with harbour views from $13 million
Developers/Architect: Lendlease/Renzo Piano
Residence sizes: One-, two- or three-bedroom
Amenities: A choice of swimming pools, indoors and out, a hot tub and steam room, private dining room, wine room, Orangerie lounge and a billiards room.
Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 27, 2022
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023
Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet tomorrow for the first time this year.
Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.
The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.
Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.
Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.
“December inflation came in at 7.8 per cent with construction, travel and electricity costs being the biggest drivers. It is likely that we are now at peak,” Ms Conisbee said.
“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again.
“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”
Inspired by some of California’s best known Modernist architecture.