The Mornington Peninsula has long been a prime spot for those spending their weekends outside of Melbourne.

The area is dominated by large acreages, with the region having just over 3,000 apartments—less than three per cent of the 145,000 dwellings in the Mornington Peninsula, according to 2021 Census data.

One small coastal pocket, located between Dromana and Mount Martha, is <a href="https://www.urban.com.au/new-apartments/safety-beach-vic-3936">Safety Beach</a>, a tight-knit community with just over 6,000 residents.

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A new community that has gained popularity in recent years is Martha Cove, an established precinct offering a rare opportunity to live harborside in Melbourne—a lifestyle that is seldom available.

Martha Cove somewhat addresses the lack of apartments in the Mornington Peninsula.

Renowned construction firm Figurehead identified Martha Cove as a prime location for development. While they’ve built several projects in the area, they’ve just completed their own development through their development company,&nbsp;<a href="https://www.urban.com.au/developers/aperture-projects">Aperture Projects</a>.

[smartcode_project:default project_id=138447 project_image_fid=290744]

<a href="https://www.urban.com.au/buildings/osprey-safety-beach-15-martha-cove-boulevard-safety-beach">Osprey Safety Beach</a> is located in one of the best spots in Martha Cove—just 150 metres from the water and Martha's Table, one of the most popular dining spots in the entire Mornington Peninsula. More than just a restaurant, the venue also features a bar, cafe, adjoining grocery store, and a cellar door showcasing local farmers, producers, and wineries.

Osprey, consisting of just 18 two- and three-bedroom apartments starting from well under $800,000, is attracting city dwellers looking for a weekender as well as local downsizers who previously struggled to find smaller options locally.

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While primarily offering a harborside lifestyle, Osprey is located just seven minutes drive from the sand at Safety Beach and only eight minutes from Mount Martha Public Park. With views over Port Phillip Bay and Arthur's Seat, the 53-hectare park offers extensive walking trails connecting the picnic area to the summit and viewing tower.

Osprey apartments are now complete and ready to move in.

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Martha Cove somewhat addresses the lack of apartments in the Mornington Peninsula

Joel Robinson

Osprey Safety Beach: Rare harbourside living on Melbourne's Mornington Peninsula

Reputable builder&nbsp;Decode has commenced construction on <a href="https://www.urban.com.au/new-apartments/atrium-at-carrington-place-40-42-ashford-avenue-castle-hill">Atrium</a>, the first stage of Ellipe Property's $750 million Castle Hill masterplan, Carrington Place.

&nbsp;Occupying 17 amalgamated sites along Carrington Road, Ashford Avenue and Partridge Avenue in Sydney’s north-west, Carrington Place is the largest residential masterplan in Castle Hill. It will deliver more than 800 new homes across five stages, helping to address Sydney’s critical housing shortage.

A recent groundbreaking event was attended by more than 100 partners and stakeholders, including the Mayor of the Hills Shire, Federal Member for Mitchell, and the Acting NSW Building Commissioner. The groundbreaking was celebrated with a traditional turning of soil as well as a smoking ceremony led by a local Deerubbin Elder, paying respect to the traditional custodians of the land in <a href="https://www.urban.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>.

<a href="https://www.urban.com.au/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a> is <a href="https://www.urban.com.au/developers/ellipse-property-group">Ellipse Property</a>’s largest project to date, featuring architecture by the award-winning Tony Owen Partners and Stanisic Architects, with interiors by renowned design firm Studio SC, formerly known as Scott Carver.&nbsp;

[smartcode_project:default project_id=89496 project_image_fid=216768]

With the newly-built Hills Showground Metro Station unlocking greater connectivity between the Hills and the Sydney CBD, <a href="https://www.urban.com.au/developers/ellipse-property-group">Ellipse Property</a>&nbsp;Founder Sam El Rihani said that the groundbreaking marks the start of a thriving new community in Sydney’s burgeoning north-west – a sentiment echoed by Federal Member for Mitchell, Alex Hawke.

"With an ongoing shortage of high-quality, transport-oriented housing in greater Sydney, we’re proud to be delivering hundreds of quality new homes – with significant amenities and proximity to retail as well as the state-of-the-art Sydney Metro system," El Rihani said.

"Together with our partners, we are setting a new standard for modern, community-focused living in Castle Hill."

Alex Hawke said north west Sydney is becoming a hotspot for jobs and growth thanks to our world-class Metro infrastructure.

"The community has been ready for this change for some time now, and we thank developers like Ellipse Property for bringing that vision to Carrington Place,” said Hawke.

&nbsp;

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The masterplan will be constructed across five stages and feature abundant community space, with over 20,000 sqm of outdoor recreational area including a one-kilometre boardwalk connecting the precinct to the nearby Fred Caterson Reserve.

The project is seamlessly integrated with the surrounding bushland, with a site boundary that stretches right to the edge of Cattai Creek.

The Hills Showground Metro Station is just a two-minute walk from Carrington Place and offers fast connectivity to Sydney’s CBD, Chatswood, North Sydney, Macquarie Park, and Norwest Business Park.

Atrium comprises 140 one, two, three and four-bedroom apartments, some with double living spaces. Uniquely, over 75 per cent of apartments will feature studies or multi-purpose rooms, and abundant storage with various layouts also offering walk-in pantries.

&nbsp;

[smartcode_project:default project_id=89496 project_image_fid=216765]

Paying homage to its verdant setting, Atrium’s design features a curvilinear exterior echoing the form of Cattai Creek with lush landscaping surrounding the building on three sides. True to its namesake, it will also feature an expansive atrium at the ground floor entrance, further connecting residents to nature.

The development will offer elevated indoor-outdoor living, outdoor kitchens, BBQ areas, an outdoor gym, and rooftop terraces boasting sweeping views of the creek and the wider Hills region.

Atrium will be delivered by <a href="https://www.urban.com.au/builders/decode">Decode</a>, an award-winning Tier 2 residential builder and one of the first to achieve a prestigious Gold iCIRT rating.&nbsp;

<img alt="Construction starts on Castle Hill’s largest residential masterplan" data-entity-type="file" data-entity-uuid="02188aec-b465-44fd-bfe0-79fcd07432eb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Team%20Shot%20%281%29.jpg?VersionId=.ZEHlCX4.ECvwt6Yv_jdyeHmZF6EqXrZ" />

Acting NSW Building Commissioner, Matt Press, said housing is a massive investment for any consumer, and it is absolutely vital that they can trust the developer and builder they are dealing with.

"We need iCIRT-rated developers and builders like Ellipse Property and Decode to be the backbone of our industry, and the type of quality players that are filling the void of the housing supply crisis."

Apartments at Atrium have been sold predominantly to downsizers and first-home buyers, who are attracted to Castle Hill’s natural beauty, vibrant community and abundant retail and dining options.

Speaking at the groundbreaking event, the Mayor of the Hills Shire Dr Michelle Byrne said that Carrington Place addressed the needs of the Hills’ changing demographics.

“There are people that have lived in the Hills for 30,40, 50 years, they’re not leaving the Hills - they’re downsizing and choosing apartments," Byrne said.

"There are also more and more people from outside the Hills who want to be part of our community. I’m looking forward to welcoming these people, and projects like Carrington Place - that build not just apartment blocks, but communities - are the key."

Atrium is set for completion in early 2026.

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The masterplan will be constructed across five stages and feature abundant community space, with over 20,000 sqm of outdoor recreational area including a one-kilometre boardwalk connecting the precinct to the nearby Fred Caterson Reserve

Decode kicks off construction at Castle Hill’s largest residential masterplan, Carrington Place

Serial Broadbeach apartment developer, Morris Property Group, has completed Malo Broadbeach, its 10th apartment development in the booming suburb south of Surfers Paradise.

Residents will be getting the keys to the boutique development before Christmas.&nbsp;

Located on Jubilee Avenue, a stone's throw from the <a href="https://www.urban.com.au/developments/broadbeach-qld-4218">Broadbeach</a> Light Rail stop and Pacific Fair, <a href="https://www.urban.com.au/new-apartments/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo</a> is made up of just 16 half-floor apartments across a nine-level building.

Each apartment has three bedrooms and around 130 sqm of internal living space.

[smartcode_project:default project_id=112549 project_image_fid=311734]

The apartments have been designed to take in as much of the surrounding area as possible, with floor-to-ceiling, double-glazed windows and doors that maximise views of the Gold Coast skyline and coastline.&nbsp;

Located in the heart of Broadbeach, Malo offers residents convenient access to some of the area’s most popular attractions.&nbsp; A short walk takes residents to Surf Parade, a lively hub with a range of dining options, while the famed Pacific Fair, the fifth largest shopping centre in the country, is just a few streets away.

[smartcode_project:default project_id=112549 project_image_fid=311722]

Kurrawa Beach and its surrounding parklands are a short walk.

Malo offers the most affordable apartments the Gold Coast has seen, and likely will see, for years.

Morris is working nearby on its 11th Broadbeach tower,&nbsp;<a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest Broadbeach</a>, some 184 apartments that will be completed in 2027.

Much like Malo, Crest is also <a href="https://www.urban.com.au/news/qld/why-we-are-downsizing-to-crest-broadbeach-urban-buyer-q-a">attracting the downsizer market</a>.&nbsp;

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Morris complete 10th Broadbeach apartmenet development, Malo, as buyers prepare to move in

In the penthouse market, buyers expect the highest level of detail in every aspect of the apartment, from the design and orientation to the finishes.

Respected Brisbane developer, <a href="https://www.urban.com.au/developers/consolidated-properties">Consolidated Properties</a>, left no stone unturned when crafting the penthouses atop <a href="https://www.urban.com.au/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a>, one of the best riverfront apartment developments produced on the Brisbane River in decades.

[smartcode_project:default project_id=113455 project_image_fid=302326]

They knew exactly the clientele they were creating their apartments for, the affluent downsizer.

The Consolidated team recently revealed the final six residences&nbsp;atop the two-tower development, now over 95 per cent sold and under construction by building giant Hutchinson's Builders.

We recently visited the Monarch Residences display suite, on site at&nbsp;at 600 Coronation Drive, <a href="https://www.urban.com.au/developments/toowong-qld-4066">Toowong</a>, to chat with Don and the team at Consolidated about what made the penthouse collection special.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dUSgZQJf5qI?si=Judv55Ncbs0dIgpn" title="YouTube video player" width="560"></iframe>

Don says the team worked closely with&nbsp;<a href="https://www.urban.com.au/architects/john-wardle-architects">John Wardle Architects</a> and <a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a>&nbsp;to create a collection of uncompromised focus on quality, timelessness, and attention to detail.

The final penthouses, created to evoke the same grandeur as a home just without the additional maintenance, range in size from 295 sqm to 347 sqm.

[smartcode_project:default project_id=113455 project_image_fid=302322]

They each have different floorplans, but the level of luxury is the same throughout, from soaring 3.4-metre-high ceilings to sweeping views of the Brisbane River and the city skyline from the riverfront terraces.

Everything in the penthouses is top-of-the-line. Herringbone European oak flooring features throughout the living areas, while the kitchen, fitted with a suite of&nbsp;premium V-ZUG Swiss appliances, is anchored by an oversized island bench with&nbsp;Dolce Vita quartzite.

Prospective penthouse buyers, as well as those who have been lucky enough to secure a piece of Monarch Residences, will be moving into the riverfront development in late 2025.

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The final penthouses, created to evoke the same grandeur as a home just without the additional maintenance, range in size from 295 sqm to 347 sqm.

"A once-in-a-lifetime opportunity": Don O'Rorke discusses the Monarch Residences Penthouse Collection

The redevelopment of the landmark Shafston Estate, on over one-hectare of Brisbane River land in <a href="https://www.urban.com.au/developments/kangaroo-point-qld-4169">Kangaroo Point</a>, looks to be edging closer.

The plans are back with the Brisbane City Council to increase the density of the project, which was given the green light in early 2023.

Developer Burgundy Group had sought to develop a 15-level tower with 37 apartments designed by Rothelowman in 2022, with approval received in March last year.

The latest submission has come from&nbsp;Verso Development Group, an entity directed by Chinese-born Siwen Pan, who is believed to have taken over the 10,070 sqm site at 23 Castlebar Street.

Verso has brought in&nbsp;Kerry Hills Architects (KHA) to revise the plans for the unrepeatable site that is home to the&nbsp;1851, heritage-listed Shafston House, built by the Reverend Robert Creyke&nbsp;as a single-storey cottage called Ravenscott.

The proposal is for the tower to increase in levels to 25 and the apartments to go from 37 to 51.

<img alt="Shafston" data-entity-type="file" data-entity-uuid="55a90156-a5eb-420f-922c-e0bed0a6726e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-20%20at%202.02.43%E2%80%AFPM.png?VersionId=COey.vBpwZE_JIMeVG8cQpsXjIJHMFeq" />

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane’s finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," KHA noted in its Urban Context Report.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

The submission noted the departure point for the project is to celebrate the heritage elements that exist on the site.

"These elements manifest the layers of post-settlement history in Brisbane, and as part of the project they will be carefully and faithfully restored. They will be reinvigorated with uses that are closely associated with their original purposes as domestic and restorative spaces."

<img alt="Shafston" data-entity-type="file" data-entity-uuid="00cd19a0-27fa-47ea-8066-a781aabc893f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-20%20at%202.02.23%E2%80%AFPM.png?VersionId=SOFJU_WZr3RZjbe6zmGFNUOWzkZoOuJD" />

Verso was recommendaed by Urbis to provide an independent design review of the proposed changes to the existing code assessed development approval of the Shafston Estate.

Malcolm Middleton Architects produced the review on the former plans, suggesting they

"The proponent of the site has a vision of this unique property that exceeds the code assessed approval and associated design compliance approach," the review read.

"The amended design seeks to deliver a project that will make a significant contribution to the quality of the city residential standards as well as focal point of architectural expression that will create an urban uplift for the site specifically and the city overall."

As well as the new tower, there would be two riverfront homes, and a guest house in the retain Postal Depot Building.

Further changes to the 2023 approval include a new section of riverwalk along the river frontage of the site as public infrastructure, and a six-berth private marina will be constructed on the river out from the riverwalk, in place of the existing pontoon.

Verso has brought in Kerry Hills Architects (KHA) to revise the plans for the unrepeatable site that is home to the 1851, heritage-listed Shafston House, built by the Reverend Robert Creyke as a single-storey cottage called Ravenscott

	Vacancy Rate		median rent (Houses)
	Dec 2015	Nov 2015	Dec 2015	Nov 2015
METRO	3.1	3.0	$410	$400
REGIONAL	2.3	2.3	$290	$305

Melbourne unit rental price up, house rentals down: REIV

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