Name: Mirvac go parkside again with Prince & Parade on Princes Park in Brunswick: Urban video tour
Uploaded: 2024-07-23T02:11:22+00:00
Description: We recently took a tour of Prince & Parade and its surrounding area, and spoke with Mirvac's Julian Gries to find out more about the development

It's a crucial first step in any multi-stage development that the initial phase provides significant amenities for the first residents, especially when the full masterplan might take a decade or more to complete.

<a href="https://www.urban.com.au/developers/golden-sedayu">Golden Sedayu</a> is hitting all the right notes with its $3.8 billion <a href="https://www.urban.com.au/new-apartments/burswood-point-saintly-entrance-burswood">Burswood Point</a> masterplan—a major redevelopment of the land surrounding Belmont Racecourse on the Swan River.

In the first stage, the developer is focusing on two towers: Somerset East and Somerset West. Last year, they launched 203 one, two, and three-bedroom apartments, and the response has been overwhelming. These apartments will be the first of approximately 4,500 dwellings to be delivered across the 38-hectare precinct.

Within the two towers, Golden Sedayu has strategically included a range of amenities to ensure that the first residents of the masterplan are well catered for.

[smartcode_project:default project_id=142314 project_image_fid=263319]

Upon arrival, residents and guests are welcomed by Somerset's sculptural two-tower form.&nbsp;

The architectural design by <a href="https://www.urban.com.au/architects/dko-architecture">DKO Architecture</a> features rising tiers of balconies with greenery, creating a visually striking entrance.

[smartcode_project:default project_id=142314 project_image_fid=263321]

Located on the third floor, Somerset’s amenities offer panoramic views of the surrounding landscape.&nbsp;

The highlight of the development's amenities is the 20-metre infinity pool that appears to cascade towards the Swan River, surrounded by sun decks, submerged loungers, a children's shallow pool, and jacuzzis.

[smartcode_project:default project_id=142314 project_image_fid=263320]

An observation deck offers a private viewing experience of the nearby racetrack, with Optus Stadium and Matagarup Bridge as a backdrop.&nbsp;

The viewing deck will have BBQ facilities, making it suitable for gatherings and social events.&nbsp;

[smartcode_project:default project_id=142314 project_image_fid=263305]

Somerset's deck also includes areas dedicated to restorative yoga and meditation, complemented by a wellness centre that has a gymnasium surrounded by greenery.

For private dining, Golden Sedayu has designed a residents’ dining room.

[smartcode_project:default project_id=142314 project_image_fid=263323]

Part of stage one will also include a boulevard with various shops, cafes and supermarkets. Burswood Point will have 91,000 sqm of retail and commercial space all up on its completion. The masterplan will also have 110,000 sqm of parklands and a 2.5-kilometre foreshore.&nbsp;

Located just 3.5 kilometres from the CBD, Burswood Point is envisioned as a "city within a city," transforming <a href="https://www.urban.com.au/new-apartments/perth-wa">Perth</a> with a new lifestyle and entertainment hub. It is the largest mixed-use&nbsp;urban&nbsp;development Perth has ever seen.

Over $200 million of site works have been completed and construction of the two Somerset towers will commence in Q1 2025.

[smartcode_project_cta:default project_id=142314]

Joel Robinson

Golden Sedayu to deliver significant amenity in Somerset, Burswood Point first stage

Runaway Bay, an exclusive waterfront suburb on the coveted Gold Coast’s North Shore, has seen very little new apartment development for several years.

While units only account for less than 30 per cent of total dwellings in <a href="https://www.urban.com.au/developments/runaway-bay-qld-4216">Runaway Bay</a>, representing around 1,100 apartments, property data analytics firm CoreLogic shows there are only around 300 three and four-bedroom apartments making these exceptionally sought after.

The lack of supply of new homes and, in particular, of three and four-bedroom apartments in the desirable suburb, paves the way for <a href="https://www.urban.com.au/new-apartments/aqualis-runaway-bay-20-24-oatland-esplanade-runaway-bay">Aqualis</a> – a luxurious development of only 18 three and four-bedroom residences on the dress circle Oatland Esplanade, fronting Pacific Park and offering never-to-be-built-out views over the Broadwater to South Stradbroke Island and The Spit.

[smartcode_project:default project_id=29985 project_image_fid=316718]

The boutique four-level building has been designed for both holidaymakers and downsizers, featuring some of the largest apartments ever offered in the area.

Designed to embrace its waterfront location by XL Architecture, Aqualis apartments have been oriented to take in as much of the stunning and expansive views as possible.

Each residence features an open-plan layout with full-height stacking glass doors that lead to covered terraces overlooking parklands, beaches, and the Broadwater.

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[smartcode_project:default project_id=29985 project_image_fid=316720]

The open kitchens are equipped with integrated Miele appliances, a kitchen island that can be customised in two different countertop materials, and walk-in butler’s pantries.

The master bedrooms all enjoy balcony access to take in the views of the water, as well as large ensuites and walk-in robes.

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[smartcode_project:default project_id=29985 project_image_fid=316722]

Residents will enjoy facilities including a waterfront swimming pool, a fully-equipped gym with a sauna, and a barbecue terrace set within landscaped grounds designed by award-winning firm Shepherd. The development also uniquely features a resident-only 12-berth marina with four additional jet-ski docks.

A builder has been appointed to deliver Aqualis, a milestone step in the development process that gives buyers confidence.

[smartcode_project_cta:default project_id=29985]

Rare new luxury apartments set for Runaway Bay as Aqualis launches

Prominent Sydney developer Capio Property Group is bringing its first new apartment development to the western suburb of Carlingford, and the first in the suburb to be protected by the sought-after Latent Defects Insurance policy—one of the most comprehensive insurance options available to new apartment buyers.

The new policy by <a href="https://www.urban.com.au/news/resilience-latent-defects-insurance">Resilience Insurance</a>, which can only be taken out by the developer or builder and gives apartment owners coverage from any structural defect for 10 years post-completion, will apply to all 46 one, two, three and four-bedroom apartments in Capio’s new parkside development, Blossom.

[smartcode_project:default project_id=148093 project_image_fid=319997]

Designed by DKO, <a href="https://www.urban.com.au/new-apartments/blossom-carlingford-25-31-donald-street-carlingford">Blossom</a> aims to offer more than just another apartment building; it’s envisioned as a new community. The development includes a 1,500 sqm private park, an on-site childcare centre, and a resident-only gym.

The apartments will feature open-plan kitchen, living, and dining areas that flow out to balconies through floor-to-ceiling glass doors. Most floorplans are oriented to the north, capturing an abundance of natural light and views over the adjacent park.

[smartcode_project:default project_id=148093 project_image_fid=319995]

The location of Blossom is another major selling point. The building will be just 350m from Carlingford Court Shopping Centre and a little over 800m from the <a href="https://www.urban.com.au/developments/carlingford-nsw-2118">Carlingford</a> Light Rail Station, the starting point of the line to Parramatta.

Ray White Projects WS Managing Director, Mark Bernberg, believes Blossom is setting a new standard for apartment living in the region.

“With the design of Blossom and the added bonus of Latent Defects Insurance, Capio is bringing something to Carlingford that prospective apartment buyers haven’t seen before,” says Bernberg.

[smartcode_project:default project_id=148093 project_image_fid=320000]

He believes Blossom will appeal to local downsizers as well as families who can take full advantage of the onsite childcare facilities, access to convenience, and several parks at their doorstep.

Construction on Blossom has already begun, with completion expected by mid-2026.

[smartcode_project_cta:default project_id=148093]

Construction on Blossom has already begun, with completion expected by mid-2026.

Capio to bring new apartments with Latent Defects Insurance to Carlingford

Resilience Latent Defects Insurance (LDI) is not just an essential safeguard for structural integrity—it’s becoming a defining factor in how properties are valued, sold, and perceived in the market.

With Australia witnessing a gradual adoption of Resilience LDI, insights from international markets reveal a clear trend: properties with LDI sell faster, command higher prices and maintain stronger resale values.

This shift is beginning to reshape valuation assessments and market dynamics across the Australian property sector.

The Impact of LDI on Property Valuations

In countries where LDI is well-established, such as the UK, Saudi Arabia, USA and France, properties backed by LDI consistently demonstrate higher valuations compared to those without. The reasons are clear:

- Reduced Financial Risk: LDI protects against costly latent defects, offering buyers peace of mind that any structural issues will be covered without financial disruption.

- Enhanced Buyer Confidence: Knowing that a property is backed by LDI assures buyers of its quality and reduces hesitation during the purchasing process.

- Stronger Financing Terms: Properties with LDI are often viewed more favourably by financiers, enabling smoother and faster transactions.

In the UK, residential developments with LDI sell faster than those without, with a price premium of four to five per cent, depending on location and building type. This demonstrates the strong correlation between LDI and marketability.

Faster Sales and Higher Prices

LDI-backed properties have a significant competitive advantage in the marketplace. These projects:

- Attract More Buyers: With concerns about structural and waterproofing issues removed, buyers are more willing to invest in LDI-backed properties, particularly in high-density developments.

- Sell Quicker: The assurance LDI provides reduces the decision-making time for buyers, allowing properties to move faster through the sales pipeline.

- Achieve Premium Pricing: Buyers are often willing to pay more for the assurance that LDI offers, viewing it as a long-term investment in quality and reliability.

Australian developers who integrate Resilience LDI into their projects are already beginning to see similar trends. In a market where buyer caution has grown due to high-profile defect cases, Resilience LDI offers a competitive edge.

Robust Resale Values

LDI doesn’t just impact the initial sale of a property—it also has long-term implications for resale value. Properties with LDI maintain stronger resale prices for several reasons:

- Continued Coverage: LDI policies provide coverage for 10 years, giving subsequent buyers the same peace of mind as the original purchasers.

- Perceived Quality: The presence of LDI signals a higher standard of construction, which translates into higher buyer confidence even years after completion.

- Lower Risk for Investors: For property investors, the reduced risk associated with latent defects ensures that the property remains a stable and attractive asset.

The Australian Context: A Shift in Valuation Assessments

Australia’s valuation assessments are beginning to reflect the influence of Resilience LDI. Properties with Resilience LDI are increasingly being viewed as lower-risk investments, prompting valuers to assign higher values compared to similar projects without such coverage. This shift is particularly notable in:

- Multi-Residential Developments: Given their complexity and higher risk of defects, Resilience LDI-backed projects in this segment are gaining a significant valuation boost.

- High-Density Housing: Buyers and investors in high-density developments are prioritising properties with LDI, pushing demand—and valuations—higher.

Lessons from International Markets

In the UK, LDI-backed developments not only sell faster but also face fewer legal disputes post-sale, which further bolsters buyer and investor confidence. Similarly, France’s mandatory decennial liability insurance for new builds has created a market where properties with coverage enjoy better resale performance and stronger demand.

These international experiences provide a roadmap for Australia’s emerging LDI market. As developers, financiers and buyers increasingly recognise the value of Resilience LDI, its adoption is expected to become a standard for high-quality developments.

The Future of LDI in Australia

As Resilience LDI becomes more prevalent, its benefits will continue to shape the property market. Developers who adopt Resilience LDI for their projects can expect:

- Faster Sales Cycles: Properties with Resilience LDI will move through the market more efficiently, reducing holding costs and enhancing profitability.

- Higher Valuations: The assurance of defect coverage will drive demand, pushing prices higher for both initial sales and resales.

- Stronger Buyer Loyalty: Buyers who experience the benefits of Resilience LDI-backed properties are likely to return for future projects by the same developer.

For buyers, Resilience LDI offers unparalleled peace of mind, while for developers, it provides a critical differentiator in an increasingly competitive market.

A Win-Win for All Stakeholders

Latent Defects Insurance is no longer just a safety net—it’s a value driver. For developers, it’s a way to build trust, ensure faster sales, and command higher prices. For buyers, it’s a guarantee of quality and protection against unforeseen costs. And for the Australian property market, it’s a step toward a more accountable and resilient future.

The message is clear: Resilience LDI-backed projects are the future of Australian real estate. Developers who embrace this shift will not only see immediate benefits in valuation and sales but also build lasting trust with buyers and investors.

The game-changing insurance not only protects properties but also enhances their marketability, helping builders, developers and homeowners unlock greater value

Resilience Latent Defects Insurance: A catalyst for higher property valuations and resale confidence

Downsizers have become the most dominant buyer demographic at Harbour Shores, the new sustainable masterplanned community on the Gold Coast.

<a href="https://www.urban.com.au/developers/lewis-land-group">Lewis Land</a>, one of the longest-standing developers across the Gold Coast for five decades and the creator of the likes of The Sovereign Islands and Ephraim Island, launched <a href="https://www.urban.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a>&nbsp;just over 12 months ago, to much fanfare.

[smartcode_project:default project_id=113271 project_image_fid=290022]

The one, two, three, and four-bedroom apartments in <a href="https://www.urban.com.au/developments/biggera-waters-qld-4216">Biggera Waters</a>—an area with limited new apartment supply—attracted immediate interest from first home buyers, next home buyers, and investors.

With over 50% of the first building, The Waterline, already sold, including all of the one-bedroom apartments, attention has now shifted to the larger two, three, and four-bedroom apartments. These range in size from spacious 133 sqm to expansive 414 sqm waterfront residences.

The larger apartments have been particularly popular with downsizers. According to data from MatterFact, the data partner of Urban.com.au, the three-bedroom, 158 sqm apartments priced at $1.64 million have proven just as appealing as the two-bedroom apartments with multi-purpose rooms, which start at $1.35 million.

[smartcode_project:default project_id=113271 project_image_fid=290045]

The Waterline, named after its prime position directly on The Boardwalk fronting canal and the one-hectare feature park, The Green,&nbsp;has been designed to capture either water or park views to the north and east.

Every apartment will boast contemporary light-filled coastal interiors, each featuring a richness of timber and stone accents. The Waterline residents will also enjoy a private pool, expansive rooftop amenities and lush tropical landscaping.

[smartcode_project:default project_id=113271 project_image_fid=290031]

The $1.5 billion sustainable masterplan, set to house over 4,500 people by the mid-2030s, is the first Gold Coast development to achieve a 6-Star Green Star Communities V1.1 rating. It will feature eco-friendly elements like solar power, rainwater harvesting, and more than 200,000 native plants across the site.

Spanning 16 hectares, Harbour Shores is one of the last large-scale waterfront greenfield sites on the Gold Coast, a property that Lewis Land has owned for several decades. The development will include waterfront villas, boutique apartments, a public boardwalk, and expansive parklands, along with 1.2 kilometres of canal frontage and private marina berths offering direct boat access to the Broadwater.

Residents in the first stage of Harbour Shores are expected to move in by late 2026. Also completing around the same time to ensure early residents are well served will be The Green, a waterfront park and playground, and The Club, a central amenity with a resort-style pool, gym, yoga facilities, tennis courts, and versatile clubhouse spaces for entertaining.

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[smartcode_project_cta:default project_id=113271]

At 16 hectares, Harbour Shores stands as one of the last large-scale waterfront greenfield sites on the Gold Coast, a site Lewis Land has held for over several decades

Downsizers drive demand at Lewis Land's Harbour Shores masterplan in Biggera Waters

Video

We recently took a tour of Prince & Parade and its surrounding area, and spoke with Mirvac's Julian Gries to find out more about the development

Looking for an off the plan property in Brunswick, VIC 3056? Urban.com.au have over *** new apartment listings in the area. Only 4kms north of Melbourne’s CBD, Brunswick is the place to live if you’re a fan of live music, great brunch spots, lush parks and well-established cycle tracks.

Mirvac go parkside again with Prince & Parade on Princes Park in Brunswick: Urban video tour

Joel Robinson

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