Iris Capital

Sam Arnaout's Iris Capital has received the nod from Gold Coast City Council to deliver its second Gold Coast project on the burgeoning Garfield Terrace beachfront.

Rising 38 levels and encompassing 51 apartments and a dual storey beach house, the project will be aptly named ‘71 on Garfield’ after its 71-73 Garfield Terrace positioning.

The announcement comes just days after the developer announced the start of construction on its debut Queensland project, the $1 billion V&amp;amp;A Broadbeach, which has been the epicentre of a $200 million buying blitz in the recent months since its launch.

Iris Capital has set its sights a stone’s throw north to Garfield Terrace where the DA approval has paved the way for the developer to deliver a generous collection of spacious half floor and full floor arrangements catering to the end user market.

Floorplans will range from three-bedroom half floor layouts, through to four-bedroom + study full floor apartments with their own private plunge pool. The tower will be crowned by an exclusive collection of dual storey five-bedroom sub penthouses and a triple storey penthouse complete with its own rooftop retreat.

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Iris Capital CEO Sam Arnaout said they are&nbsp;big believers in the Gold Coast, having witnessed the success in sales so far at V&amp;A Broadbeach.

"We are looking forward to following this up with the delivery of another high- class project in what is emerging as a very exclusive precinct,” Arnaout said.

“We see long term positive fundamentals for the Gold Coast. It’s a very desirable place to live and migration is very strong, as such there is always going to be demand for residences that complement the lifestyle people flock to the Gold Coast for.”

Level 24 of the tower will be dedicated to a suite of residential amenities including a swimming pool overlooking the Pacific Ocean, a gym, sauna, and outdoor barbecue and dining area.

The ultra-exclusive beach house offering will ground the development and offer a spacious four bedrooms and two living areas spread over two storeys. It will also offer its own private pool and courtyard area.

DBI has once again joined forces with Iris Capital to conceive the tower design which it describes as a “balance between fashion, craft, elegance and luxury”.

Rising 38 levels and encompassing 51 apartments and a dual storey beach house, the project will be aptly named ‘71 on Garfield’ after its 71-73 Garfield Terrace positioning

Joel Robinson

Iris Capital secure Garfield Terrace apartment approval

Iris Capital’s transformation of central Broadbeach has moved a step closer with the Gold Coast Council giving development approval for its $800 million V&amp;A apartments on the site of the Niecon Plaza.

Iris Capital’s CEO Sam Arnaout said the decision&nbsp;would pave the way for an anticipated construction start later this year.

“We’re absolutely delighted that the Gold Coast Council has seen the vision of V&amp;A and how it will play an enormous role in transforming Broadbeach,” said Arnaout.

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“We were very eager to get the approval to meet our timelines for delivery and we’re now focussing our attention on sales and marketing with the view of a construction start later this year.”

Taking its name from Broadbeach streets, Victoria and Albert, the project will comprise 398 apartments over two towers of 40 and 56 storeys, with a subtropical recreational podium, featuring two levels of premium offices and commercial facilities, and a fresh food and dining retail on the street level.

Design firm, DBI Architects, has curated a design referencing the coastal environment, moving away from smaller unit types to embrace the growing demand for larger apartments.

“V&amp;A Broadbeach presented a unique opportunity to create a lasting icon for the coastal precinct that can be appreciated by more than just its residents,” said DBI Director Raith Anderson.

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The lower floors will offer a mix of one, two and three-bedroom layouts while the upper residences will offer a mix of three-bedrooms, with both towers topped by sub‐penthouses and penthouses.

“Its design is quintessentially Gold Coast, from its lavish double beach shower and surfboards storages to its cascading subtropical landscaped terraces, V&amp;A is a rare product for those in pursuit of a coastal destination with the lifestyle and cultural variety of a cosmopolitan locale,” Anderson said.&nbsp;

Residents will live among world‐class amenities, with both towers offering an elevated recreational podium with a 25-metre lap pool, a gym, a yoga deck and resident’s lounge as well as kid’s area, a Zen garden, an outdoor dining and barbecue space, all surrounded by lush green landscaping.

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Both towers will feature spacious top floor owners-lounges complete with dining, yoga room, and office space, finished with high end, coastal furnishings.

Colliers’ Director Residential David Higgins said the project had been well received by the market and the council approval removed any impediments on the project.

“There is a great air of excitement about what V&amp;A will do to transform central Broadbeach,” said Higgins.

“The council has recognised the significance and merits of V&amp;A, and also acknowledged the incredible role that the project will play in the city’s cosmopolitan heart.

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“Unlike many of the projects that have been launched in recent years, V&amp;A will bring an air of sophistication to the cosmopolitan heart and provide apartments from which people can walk to everything they need,” he added.

V&amp;A Broadbeach would create the first high end residential, retail and culinary precinct in central Broadbeach since the Oracle towers more than a decade ago.

“Currently Broadbeach has plentiful luxury full-floor and half-floor three-bedroom-plus apartments on the market, but very few offer a choice of one, two and three-bedroom apartments with access to leading luxury amenity”, said Higgins.

“Historically Broadbeach has had a very strong family market and V&amp;A will bring this market right back into the frame. We’ve introduced a mix of product right in the heart of Broadbeach that attracts the family buyer, luxury downsizer and investors looking for solid returns as the Gold Coast grows out of the Covid lockdowns.”

&nbsp;

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“The project scores a 10 out of 10 for walkability located in the heart of Broadbeach in walking distance to the light rail, the casino, convention centre, the restaurant precinct and the beach and will bring a new type of residential apartments to the market that we have not seen for some time,” he noted.

Iris Capital,&nbsp;founded and led by entrepreneur Sam Arnaout, has extended its reach over the past decade to become a developer of&nbsp;integrated residential and mixed-use developments.

The company now holds a $5 billion enterprise value, having significantly expanded its footprint over the past year through the acquisition of 17 Ibis hotels from AccorInvest.

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Design firm DBI Architects has curated a design referencing the coastal environment, moving away from smaller unit types to embrace the growing demand for larger apartments.



alisonwarters@gmail.com

Iris Capital get green light for $800 million Victoria & Albert, Broadbeach apartment towers

The Sydney-based developer Iris Capital has lifted the wraps on what buyers can expect from its highly anticipated $800 million Victoria &amp;&nbsp;Albert Broadbeach (V&amp;A Broadbeach) development, revealing that Broadbeach is set for a new era of relaxed sophistication with the landmark project.

V&amp;A Broadbeach, designed by award-winning Gold Coast architects DBI, brings together two individually designed towers of 56 and 40 storeys, created to complement the lifestyle and convenience of its location in the heart of Gold Coast’s cosmopolitan coastal suburb.

The project builds on the reputation of Iris Capital, led by leading Hotelier Sam Arnaout, for creating high quality integrated residential and mixed-use developments.

The east and west towers of V&amp;A Broadbeach will rise on the current site of Niecon Plaza and stretch across an entire city block from the Broadbeach Mall at Victoria Avenue to Albert Street, bringing to the market 399 apartments, extensive high-end retail and commercial offices.

&nbsp;

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The east tower, named Albert, will be dedicated exclusively for owner-occupiers and offer prime ocean views. The west tower, Victoria,&nbsp;will provide an opportunity for those looking for a holiday home and investors to gain a foothold in the most significant development in central Broadbeach since the Oracle more than a decade ago.

Each tower will boast its own premium lobby entry and the mixed-used project will be complemented by two levels of premium offices and commercial facilities and a retail arcade, in line with the existing uses of the site.

V&amp;A Broadbeach will become the new home of high-end retail on the Gold Coast with the ground floor offering elevated ceiling heights for the luxe retail experience. The twin towers will share a subtropical recreational podium on level four, giving access for all residents to world-class amenities such as a 25-metre lap pool, a fully equipped gym, a yoga deck and a resident’s lounge. The podium will also feature a children’s area, a Zen garden, and an outdoor dining and barbecue area adorned with lush green landscape.

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Amenities in the east tower are taken to the next level with an exclusive boutique residents’ lounge and the lavish double beach shower and surfboards storages to complement the iconic beach lifestyle at Broadbeach.

V&amp;A Broadbeach offers a mix of apartments in one, two and three-bedroom configurations, while upper residences will be available in three and four-bedroom styles. Both the east and west towers will be topped by two exclusive penthouses each.

“The apartments will be located from the fifth level on both of these towers, which greatly enhances view corridors on the lower-level apartments,” DBI director Raith Anderson said.

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“While there is a diversity of apartments in our design, V&amp;A Broadbeach firmly embraces the principle of creating larger residences to deliver lifestyle amenities for residents.”

The use of full-height windows and operable panels across all the living areas maximise the ocean views and bring natural lighting to the residences.

“While this development is notably within walking distance of all that Broadbeach has to offer, from the iconic beach to acclaimed restaurants and entertainment facilities, the larger residences and ancillary resident facilities create the ultimate in residential amenity,” said Colliers’ Director Residential David Higgins.

“Everything is at your fingertips if you choose, or you can remain at home to enjoy the benefits of supreme privacy, a beautiful outlook and unparalleled amenities.”

While the Gold Coast apartment market is currently dominated by local downsizers, Higgins said V&amp;A Broadbeach also held considerable appeal for interstate buyers and investors.

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“The mature buyer has been the big demographic shift on the Gold Coast, moving to owner occupiers seeking larger, well-appointed apartments in village locations close to the beach, transport and lifestyle amenity and this sums up the positioning of V&amp;amp;A Broadbeach in the current market,” he said.

“V&amp;A has been designed and orientated for the aspirational Broadbeach family buyers from Brisbane, Sydney and Melbourne, although there is strong interest from owners within the older existing Broadbeach apartment buildings where they predominantly holiday rent their properties.

“The west tower provides these buyers with many options, including the opportunity for strong holiday rental market income and personal use during major holiday periods for them and their families.”

The central Broadbeach location puts V&amp;A Broadbeach within walking distance of the beach, restaurants, Pacific Fair, The Star Casino, Kurrawa Surf Club and&nbsp;kids’ play areas in the adjacent parkland.

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The project builds on the reputation of Iris Capital, led by leading Hotelier Sam Arnaout, for creating high quality integrated residential and mixed-use developments

Inside the Victoria & Albert, Broadbeach apartment towers

Sydney-based developer Iris Capital saw strong sales results across their projects last year, with new Broadbeach development Victoria &amp; Albert outperforming 2020 results.

V&amp;A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast.

Designed for the coastal environment, V&amp;A will comprise a mix of one, two and three-bedroom apartments on the lower levels, while the upper residences will offer a mix of three-bedroom apartments, with both towers topped by sub‐penthouses and penthouses.

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David Higgins of Colliers International Gold Coast said the development is an exciting breakthrough for Broadbeach, thanks to the complexity of lifestyle and amenity on offer.

&ldquo;It is a pretty exciting milestone for the Gold Coast and, more especially, for Broadbeach because Broadbeach is really one of the most heavily developed lifestyle precincts&rdquo;, he said.

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&ldquo;The walkability of this location in the centre of Broadbeach, you can&#39;t replace.&rdquo;

Straddling both streets and the mall, the site ties Victoria Avenue and Albert Avenue together, whilst bringing the history of Broadbeach into the project with its name.

The largest tower to the west is Victoria, the &ldquo;crowning glory&rdquo;, while the smaller tower to the east is Albert.

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The two towers, designed by DBI Architects over a subtropical recreational podium, will home over 400 apartments, two levels of premium offices and commercial facilities and fresh food and dining retail on the street level.

The project boasts over 5,500sqm of dining, retail and A-grade commercial, adding to the strong hospitality offerings already available within the suburb.

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&ldquo;When we put a new arcade, new retail and dining, fresh food with some A-grade commercial, [V&amp;A] will be a very unique, new entrant into the Gold Coast lifestyle market&rdquo;, said Higgins.

In the six months to June 2021, the development team saw apartment sales 20 per cent ahead of the result for the entire year of 2020.

&ldquo;We expect next year to be as good, if not better&rdquo;, Higgins added.

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Iris Capital&rsquo;s decision to transform Newcastle and head north to Queensland was a very strong move, based upon the knowledge of the Gold Coast of Iris Capital chief executive, Sam Arnaout.

&ldquo;He saw the trends and he liked what he saw in Southeast Queensland&rdquo;, Higgins said in his interview with MediaHunt.

&ldquo;Obviously, last year [Queensland] had the best interstate migration [they] have had for 13 years, over 30,000 people, and we expect the next year to be better again.&rdquo;

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V&A, an $800 million residential and commercial precinct, is expected to transform the heart of Broadbeach and create a vibrant new destination for the Gold Coast

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Iris Capital see strong demand in Broadbeach at V&A following their move into the Queensland market

Victoria &amp; Albert is a landmark mixed-use development featuring two residential towers, Victoria Residences and Albert Residences

Colliers&rsquo; director residential David Higgins says the&nbsp;development is the first major apartment project in Broadbeach for the last five years.

A very strong family market, Broadbeach is back in the frame with this new oceanside precinct offering one, two, three and four-bedroom apartments with private amenities.

Urban has taken a look in detail at V&amp;A, and what buyers will like about the project.

1. Strong development team

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Developed by Iris Capital, with apartments designed by DBI Design, Victoria &amp; Albert residences are being delivered by a strong development team.

Founded and led by entrepreneur Sam Arnaout, Iris Capital now boasts more than&nbsp;$3.5 billion in enterprise value, significantly expanding over the past year after the acquisition of 17 Ibis hotels from AccorInvest.

The Sydney-headquartered development giant is behind the large-scale East End development in Newcastle, as well as other projects including Bondi&rsquo;s Grand and Potts Point&rsquo;s new Queensgate development.

&ldquo;We are no stranger to large scale projects and have built a reputation on our ability to deliver transformative developments that add remarkable value to their broader community,&rdquo;&nbsp;Arnaout said.

2. Broadbeach&rsquo;s most walkable new development

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&ldquo;V&amp;A is arguably the Gold Coast&rsquo;s most walkable new address&rdquo;, Arnaout said.

Located in the heart of Broadbeach, the project scores a 10 out of 10 for walkability, thanks to its close proximity to the light rail, casino and restaurant precinct.

Residents&rsquo; daily needs are just moments from their door, with Oasis Shopping Centre, which contains a Woolworths and other specialty retailers, only a two-minute walk from the residence.

Just four minutes&rsquo; drive away is the expansive surrounds of Pacific Fair, while Gold Coast airport is only half an hour away.

3. Resort-style living

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Both Victoria Residences and Albert Residences offer an elevated recreational podium that connects the two, featuring a 25-metre lap pool, gym, yoga deck and residents&rsquo; lounge.

Indoor and outdoor amenities are surrounded by lush, subtropical landscaping, including a zen garden and outdoor dining spaces in this sprawling beachside day club area.

Both towers also feature&nbsp;top-floor residents-only lounges, complete with dining, yoga room, offices and views across the Gold Coast skyline.

Hosting private functions are a breeze with two private dining rooms, each boasting an adjoining kitchen, one galley-style, along with a private wine cellar.

4. Ground-floor retail and dining

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A vibrant new retail arcade is on offer at the world-class Broadbeach address, with Victoria &amp; Albert boasting the first high-end residential, retail and culinary precinct in central Broadbeach since the Oracle towers more than a decade ago.

&ldquo;Just an elevator ride away, take a leisurely stroll and you&rsquo;ll be sure to find new restaurants and bars to sample, no matter which route you take&rdquo;, the project marketing reads.

The precinct boasts over 50 restaurants and cafés within 300 metres of its front door.

5. Ideal location

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Surrounded by beautiful natural landscapes, Victoria &amp; Albert invites outdoor leisure and recreation all year round.

Combined with a subtropical climate, it forms a breathtaking locale that residents will find a hard time abandoning.

Along the coastline, residents can enjoy a bike ride past Kurrawa and Mermaid Beaches, or a walk on the beach from the Spit.

Other neighbourhood recreational amenities include Burleigh Head National Park, Currumbin Wildlife Sanctuary and, for golf lovers, both the Southport and Burleigh Golf Clubs.

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Colliers’ director residential David Higgins says the development is the first major apartment project in Broadbeach for the last five years

Five things we love about the landmark Broadbeach precinct, Victoria & Albert

The demand for apartments at&nbsp;Iris Capital&rsquo;s $350 million Queensgate project in Potts Point has continued, with nearly half of the apartments accounted for following its launch just one month ago.

There were a further&nbsp;$20 million in sales during Sydney&rsquo;s traditionally quiet holiday period, taking the total sales tally to over $121 million.

Not often do interstate buyers head to Sydney, with the trend often the other way around, but the latest buying spree saw&nbsp;high-net-worth individuals from Brisbane and the Gold Coast secure apartments.

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Among the recent sales was a one-bedroom apartment without a carpark for $2.2 million, while two-bedroom apartments have sold for between $4 million and $6 million.

Queensgate&nbsp;will deliver a collection of five buildings; Sovereign, Regent, Monarch, Consort and Empress, all featuring individual designs and their own lobby. Exclusivity is maintained throughout with no more than 10 apartments in each structure, with just 48 in total.

Iris Capital&rsquo;s vision for the 18-32 Darlinghurst Road site, which will see the historic fa&ccedil;ade of The Bourbon Hotel retained, has been described as an architectural reawakening for Potts Point.

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&ldquo;Local buyers were among the first to take a foothold after the official launch, but now we&rsquo;re seeing buyers from all over Australia converging on Queensgate, with many from Brisbane and the Gold Coast snapping up apartments during the holiday period,&rdquo; Iris Capital CEO Sam Arnaout said.

&ldquo;Queensgate undoubtedly represents a strategic acquisition for many buyers looking to secure a position in this dynamic urban precinct.&rdquo;

Total sales to date now account for 23 of the 48 apartments available at Queensgate, which offers one, two and three-bedroom layouts.

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Each of the five buildings within the development has its own penthouse, some with a private rooftop swimming pool. One of the penthouses has already sold for $16 million.

Queensgate will further enhance the existing Potts Point dining and entertainment scene with its own collection of bars, restaurants, bakeries and cafes along the ground floor.

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Total sales at Queensgate have now surpassed $121 million, just a month since the project’s release.

Iris Capital's Queensgate, Potts Point apartment development, approaches 50% sold

The hotly anticipated development of Garfield Terrace is heading in to 2022, with further plans submitted to the Gold Coast City Council for a luxury apartment tower.

Following the submission by the&nbsp;Sydney-based Weiya Holdings, <a href="https://www.urban.com.au/news/qld/first-look-weiya-holdings-submit-38-level-garfield-terrace-surfers-paradise-beachfront-apartments">who plan to develop&nbsp;Aalto</a>, a 64 apartment block&nbsp;at 75-79 Garfield, the fellow Sydney-based developer, Iris Capital, has lodged plans for their next development which sits&nbsp;next door.

The project, 71&nbsp;on Garfield, named after its prime location at 71-73 Garfield Terrace which Iris secured earlier this year, will have 51 apartments across the 38-level tower, as well as&nbsp;a two level beach house.

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217">To be the first to be notified when 71 on Garfield is nearing launch, enquire here.</a>

DBI, who handled Iris Capital's recently launched Victoria &amp; Albert in Broadbeach, their first foray in to the Gold Coast apartment market, put together the plans for&nbsp;71 on Garfield.

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217"><img alt="" data-entity-type="" data-entity-uuid="" height="829" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/iris_garfield_2.jpg" width="1200" /></a> 
The proposed tower&nbsp;of 71 on Garfield. Image credit: DBI Architecture

"Iris Capital is set to deliver a new breed of building, combining subtropical principles, fashion inspired design and a sky living experience," DBI's design statement read.

"71 on Garfield is designed exclusively for the coastal environment, moving away from smaller unit types and white upstands to embrace the increasing demand for large apartments and a new level of coastal sophistication."

Another aimed at the high end holiday maker or owner-occupier, the smallest apartments on offer will have three bedrooms and span half a floor, oriented to have ocean-facing balconies.

They run over half way up the tower, before hitting the resident&nbsp;facilities on level 24 where there will be a swimming pool and pool deck, a gym with a sauna, and an outdoor barbecue and dining area.

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217"><img alt="" data-entity-type="" data-entity-uuid="" height="971" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/iris_garfield_1.jpg" width="1200" /></a> 
The curved tower&nbsp;of 71 on Garfield. Image credit: DBI Architecture

Up to level 33 will be the full-floor, four bedroom apartments, each with a study and private plunge pool on the balcony.

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217">To be the first to be notified when 71 on Garfield is nearing launch, enquire here.</a>

The most impressive apartments are right on the top of the tower.

The five-bedroom subpenthouse spans two levels and has a larger plunge pool on the lower level balcony, an upstairs ocean-facing master retreat with a private balcony, study, two walk in wardrobes, and an ensuite. Each&nbsp;of the five bedrooms have walk in robes and ensuites.

Crowning the tower is a three-level penthouse, with the same floorplate as the subpenthouse, but with the addition of the rooftop, where a room, pitched as being suitable as a gym, lounge, or games room (complete with a sauna), opens to the outdoor area where there's a swimming pool and outdoor kitchen.

The beach house starts from the ground level and has four bedrooms and two living areas across its two levels. There's a pool that opens from the ground floor living space.

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217"><img alt="" data-entity-type="" data-entity-uuid="" height="695" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/iris_garfield_3.jpg" width="1200" /></a> 
The outdoors of the two-level beach house. Image credit: DBI Architecture

DBI said that narrow&nbsp;sites are challenging, which makes quality urban design principles&nbsp;more important than ever.

"Reclaiming direct visual connection between the street and the beach and enhancing permeability is essential," the team noted.

"The aesthetic reveals the balance between fashion, craft, elegance and luxury. Soft edges and elegant curves help to soften the built form and create a distinctive ‘welcoming’ identity, at a macro scale to the city skyline and a micro scale at the pedestrian level.

"The timeless design and lines of the towers are highlighted by the metallic textured and crafted sculptural spine of the building dialogue with the elegance and simplicity of the glass volume.

"The materiality relates to a ‘decadent’, yet sophisticated, fashion icon and beach lifestyle."

<a href="/new-apartments/71-garfield-surfers-paradise-71-garfield-terrace-surfers-paradise-qld-4217">To be the first to be notified when 71 on Garfield is nearing launch, enquire here.</a>

There development of Garfield Terrace is expected to continue in to the new year, with the Brisbane-based Siera primed to create a boutique tower. KTQ are also set to reveal what they intend to do with their huge amalgamated beachfront site.&nbsp;

The project, 71 on Garfield, named after its prime location at 71-73 Garfield Terrace which Iris secured earlier this year, will have 51 apartments

First look: Iris Capital lodge Surfers Paradise apartment plans for 71 on Garfield

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East End Newcastle's developer Iris Capital has pushed through with significant changes to the sprawling development that will eventually account for multiple city blocks.

Chief among the planning manoeuvres was the lodgement of Stage Two with Newcastle City Council during May. Under its East End Stage 2 Pty Ltd subsidiary, Iris Capital intends to realise 129 apartments, retail and commercial spaces within the $50 million development application.

CKDS Architecture has conceived the most recent stage, working with fellow design practice SJB in the process.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image30_15.jpg" rel="gallery-all" title="CKDS Architecture's intended Newcastle addition"><img alt="" class="image-article-full-width-580px" height="344" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image30_15.jpg?itok=p11pi8iZ" title="CKDS Architecture's intended Newcastle addition" width="580"></a>

<figcaption>CKDS Architecture's intended Newcastle addition</figcaption></figure>Stage Two's built form encompasses 13,695 square metres and includes as many as nine retail tenancies spanning 1,500 square metres. Apartments and retails spaces aside, Stage Two also features a green internal courtyard and north-south laneway that divides the built form into two separate volumes.

CKDS Architecture's take on Stage Two reads as follows:

<blockquote>
The proposed Newcastle East End Stage 2 development carefully navigates the varied conditions of the site through sensitive additions above and between existing heritage buildings.

Together with the reinstatement and upgrade of the finer grain buildings that define the King Street frontage, the proposal considers the historical layering as well as the future aspiration of the East End redevelopment. Multiple design massing options were considered to arrive at the most appropriate built form.

The final proposal combines the site topography, future character as well as the retention of existing buildings. Existing buildings deemed significant are to be restored, celebrated and maintained; ensuring the heritage layering across the site is preserved.
</blockquote>

Meanwhile in unison with Stage Two's lodgement, Iris Capital has also lodged a Modification Application for the overall development which is bound by Hunter, King, Perkins and Newcomen Streets.

A modest increase in overall gross floor area would see 63,116 square metres delivered in total, whilst a reduction in commercial and corresponding increase in retail spaces are also on the agenda. The bulk of the additional floor area has been directed toward Stage Two.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image31_11.jpg" rel="gallery-all" title="SJB's staged concept proposal for the development"><img alt="" class="image-article-full-width-580px" height="261" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image31_11.jpg?itok=cufKM8H3" title="SJB's staged concept proposal for the development" width="580"></a>

<figcaption>SJB's staged concept proposal for the overall development</figcaption></figure>Iris Capital's move on Stage Two follows on from East End Newcastle's initial apartment release which occurred in the last quarter of 2017.

Stage One of four consisted of 155 apartments on a site bound by Hunter, Wolfe, King and Perkins Streets; it is the largest of the four development parcels. The initial stage consisted of apartments only, with its construction expected to be complete by mid-2020.

The overall project value is slated at $750 million and upon completion will include substantial retail offerings plus multiple publicly accessible spaces throughout the precinct.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/r0_1162_5000_3987_w1200_h678_fmax.jpg" rel="gallery-all" title="Iris Capital's released first stage of East End Newcastle"><img alt="" class="image-article-full-width-580px" height="328" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/r0_1162_5000_3987_w1200_h678_fmax.jpg?itok=W_i-ai8S" title="Iris Capital's released first stage of East End Newcastle" width="580"></a>

<figcaption>Iris Capital's released first stage of East End Newcastle</figcaption></figure>
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silvermb

Iris Land pushes on with Stage Two of East End Newcastle

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Iris Capital only sold 17 of 39 apartments at its new $70 million development Grand Bondi Junction in Sydney's east.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris3.jpg" alt="" style="font-size: 12.16px;">
The most popular apartments sold were two-bedroom units.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris6.jpg" alt="">
The highest priced apartment was $2.5 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris4.jpg" alt="">
Iris Capital launched their $70 million residential development claiming "impressive market demand" - although it continued the recent downturn in the initial Saturday sales tally to around 50 percent rather than the 100 percent sellouts in the off the plan sales heyday.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris5.jpg" alt="">
The development attracted strong interest from local owner occupiers purchasers from around the Eastern Suburbs area, CBRE agent Ben Stewart noted, adding Grand was destined to become a timeless residence in Bondi Junction.
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