Mirvac set to launch seven apartment projects across Australia in the next 12 months

The largest of the new launches will be the 442-lot Nine Willoughby site

Mirvac set to launch seven apartment projects across Australia in the next 12 months
Mirvac's proposed NINE by Mirvac in Willoughby

Off the back of strong demand for apartments, Mirvac has confirmed several new apartment launches are planned over the next 12 months.

Its latest annual report noted "growing demand for high-quality, well designed, owner-occupier targeted product."

There are 1144 lots it is planning across Sydney, Melbourne, Brisbane and Perth.

The largest of the new launches will be the Nine Willoughby site in North Sydney.

NINE by Mirvac, Willoughby is set to deliver 442 apartments.

It has been designed by Mirvac Design & CHROFI with the landscaping by McGregor Coxall.

It will be a landmark community on Sydney’s north shore "expected to set a new benchmark in the area."

Elsewhere in Sydney it propses a prestige, over-55s offering in Waverley, Sydney comprising 55 apartments and the next two buildings at Green Square, Sydney comprising 159 apartments.

There will be a low-rise building of 88 apartments at Burswood, Perth.

Melburne will see Forme, the final apartment building at Tullamore, comprising 93 apartments and the next stage at Yarra’s Edge, comprising 191 apartments.

Charlton House, the third stage at Brisbane Racing Club comprising 116 apartments is also on the way.

"These launches are expected to significantly elevate apartment pre-sales, before contributing to residential earnings from FY23," the annual report noted.

"The fundamentals of strong established market momentum which has continued despite COVID-19 lockdowns, together with very low interest rates and limited supply in many catchments, provides a strong base for
our residential business looking ahead," it advised.

"Our ability to bring these new projects to market now puts our residential business in a strong position as both sentiment and activity from owner-occupiers and investors remains buoyant and supply of new stock in many inner and middle ring markets remains low.'

It also noted off the back of strong demand for masterplanned community product during FY21 across both land and built-form, it expects to see FY22 settlements again dominated by masterplanned communities.

"Strong demand means we are now selling 12-18 months ahead of settlement in most masterplanned community projects.

"We expect to see demand continue to be driven by owner occupiers, both upgraders and downsizers, with domestic investor activity continuing to grow, first in masterplanned communities followed by apartments."

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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