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GUEST OBSERVATION
It’s been almost two years since the Living Away from Home Allowance (LAFHA) was reformed by the government, essentially limiting access to tax concessions to employees maintaining a home in Australia.
Since then, high-end rental properties in Sydney’s CBD have struggled to command the premium prices they had been achieving prior to the legislative changes.
Properties priced over $1,500 per week have had much higher vacancy rates since the reform, resulting in many owners having to lower their rental offer to secure tenants.
I recently came across a stunning penthouse in the northern CBD that was vacant for almost five months. In the end, the owners had to reduce their original asking price by more than 40% – from $2,400 per week down to $1,500 per week. We’ve also seen various instances of existing tenants wanting to renegotiate their current rental price so they are not paying over the current market average.
Two bedroom apartments located in the northern end of the city with fantastic views that used to achieve rental income of $1,200-$1,400 per week now have to consider offers of around $1,000 per week to keep vacancies to a minimum.
The good news is there is still a huge premium on one bedroom properties in the city, with some furnished apartments leasing for as much as $975 per week. And, inner city properties priced in the $500-$1,000 per week rental bracket seem completely unaffected by the reform – this buoyant segment of the market continues to be leased within days.
Rental properties on the eastern outskirts of the city particularly between <a href="/news">Woolloomooloo</a> through to <a href="/news">Vaucluse </a>also continue to thrive.
Landlords must be competitive and keep their properties presented at a high standard in order to secure tenants at the best rental price. It is important to remember, however, that meeting the market is essential. On average, properties priced over $2,000 per week have had to consider offers 10-20% lower than what they had previously been getting. In these instances, you are often more likely to benefit from accepting lower rent for a short period, than having the property vacant for a few weeks or in some cases a few months.
CARLIE ZIRI is a director of <a href="https://www.lifestylepropertyagency.com/" target="_blank" rel="nofollow">Lifestyle Property Agency.</a>
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Sydney’s high-end properties struggle to command top rental prices

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The demand for properties in inner city Sydney is at an all-time high. Properties are selling at record prices upon first inspection, and the huge influx of investors returning to the inner city property market, means there is a shortage of quality stock available – particularly for properties priced up to $1.2 million.
Many vendors are holding on tight; refusing to part with investments they bought years ago that are now yielding rental returns as high as $800 per week, on a property they purchased for just $400,000 10 years ago.
There was a time during the early 2000s that investors shied away from purchasing properties in the inner city. Banks tightening their lending requirements and only financing between 60-80% of property values meant that many investors were cut out of the market and properties under 50 square metres were very hard to finance at all.
This was a tough period for investing in inner Sydney. Hundreds of new apartments were released to the market each year, but heavy finance restrictions fuelled lots of bad press about investing in city apartments. At the time, many experienced city agents were managing 30-40 listings simultaneously, and the time-frames to sell these apartments would span up to 12 months.
How times have changed! If anything, the financial crisis has helped the city market by giving buyers the confidence to invest in property again, as opposed to other high risk investments and shares and stocks which can be volatile.
New developments have been selling out in just hours upon release, and command exuberant prices – including Barangaroo, which completely sold out in hours despite prices starting at $1 million for one-bedroom apartments, and most recently York &amp; George, another inner city development which sold almost 90% of its apartments on the first day of release.
Self-managed super funds have also gained momentum, buying up investments in the inner city market; yields are so good with the guaranteed reward of long-term capital growth.
We’ve also seen a growing number of tenants who have chosen to buy into the market so as not to pay the ever increasing rental prices. It’s all part of the shift toward more and more local and international residents embracing our fabulous inner city lifestyle, and just wanting to be in it to enjoy it. It’s no wonder why the city of Sydney is one of the most in demand property markets in the world.
While it is encouraging to see our once tough inner city market experience such a boom, properties at the higher end of the market are still harder to move. This is particularly true for those who bought off-the-plan for properties priced over $1.8 million in the past four to five years.
These properties are still averaging 12 months on the market and there is a much smaller pocket of people who can afford to spend $2-$6 million on apartments in the city. The higher end is predominantly owner occupied and over time we look forward to this end of the market picking up.
As we say goodbye to 2013 we are excited for the year ahead and once again look forward to a buoyant inner city market place.

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Carlie Ziri is the director of <a target="_blank" href="https://www.lifestylepropertyagency.com/" rel="nofollow">Lifestyle Property Agency.</a>
 
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Inner Sydney market is booming, but we're still waiting for top end to kick off

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Having built million dollar rent rolls during my career in real estate, I have learned not to underestimate the importance of what is truly the most central asset of any real estate agency.
Historically, our industry has tended to undervalue property management teams, while sales agents have attained all the glory and remuneration.
Over time this dynamic has started to change as more and more principals focus on building their rent roll income. Revenue generated from a rent roll is reoccurring and secure; sales income can be variable and volatile.
A rent roll is a real estate agency’s property management portfolio. It should be well managed and retention should always be a priority as it generates guaranteed income on a monthly basis. If you are lucky enough to have built a decent sized portfolio, you could have a very valuable asset.
The rent roll is also a source of sales listings for the sales team so the overall income regenerated from property management is priceless to a real estate agency.
It is also the only part of the business that a bank will recognise and lend money against as an asset.
When a real estate agency is valued, regardless of how large your sales team is, or how many sales you are turning over each year; the value of your rent roll is between 80–90% of your entire business value.
A rent roll is normally valued between $2.50–$3.50 for every dollar generated in management fees per annum. This value depends on many things including (but not limited to) the condition of the rent roll, location and geographic spread of the properties, average rental value, management fee per annum and vacancy rates.
Managing and retaining a rent roll is a very challenging role; you have to meet the demands of your tenants, landlords, internal stakeholders and other external third parties. It is your responsibility to ensure the properties are maintained beautifully, your tenants are living happily and that your landlords’ income is being paid on time and maximised with minimal vacancy.
Only time will tell what impact the new Liberal government will have on consumer confidence and on property sale prices. Currently, the rental market is going from strength to strength – another key reason why the rent roll should be a key area of focus for an agency.

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Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
 
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Don't underestimate the importance of rent rolls: Carlie Ziri

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In 2003, the State Government announced that the stevedoring wharves at East Darling Harbour would be transformed into a new urban precinct. And now, momentum is building as the long awaited and often controversial Barangaroo – a $6 billion commercial, residential and leisure development – is set to revitalise this quiet part of the city.
The Barangaroo Concept Plan was approved in February 2007 and has been amended each year to increase the floor space and to refine the Headland Park and Northern Cove.
In 2010, it was amended again to include a hotel on a pier with additional height and floor space.
The development’s most controversial amendment, however, was the recently approved Crown Casino, which will undoubtedly attract an influx of international high rollers to the precinct.
Earlier this year, we interviewed a couple of key Barangaroo stakeholders for a feature in our Lifestyle Guide publication. Greg Flynn, Barangaroo Developer, Lend Lease, said in what is destined to become Australia's first large-scale carbon neutral community and there will be approximately 800 apartments in the residential component of Barangaroo South.
The development will offer 159 waterfront apartments, with a mix of one, two and three-bedroom apartments, all with uninterrupted harbour views.
Andrew Wilson, Managing Director, Barangaroo South, said the apartments were Sydney’s last significant CBD residential waterfront opportunity and he described its contemporary design as offering the quintessential Sydney harbour living experience that would enhance Sydney's position as a must-see destination.
It is anticipated that the apartments will be released to the market during the second half of this year and completed in mid-2015.
Each building is targeting a 5-Green-Star residential rating and incorporates a range of sustainability measures.
At ground level, Barangaroo South will include cafes and a standout signature restaurant at the northern end facing the square and cove.
It will also be Sydney’s newest dining ‘hot spot’ and home to some of the most esteemed local and global chefs.
For over a decade, Barangaroo has been a cause of concern among residents that live in the northern part of Kent Street.
Many property owners in this area purchased million dollar views when height restrictions were in place and, while Barangaroo was still in its planning stage, the value and sales potential of some of these apartments were negatively affected.
With apartments in Barangaroo tipped to start selling from $1million, I am confident that residents in Kent Street as well as Walsh Bay and The Rocks can expect an increase in the value of their properties over the next 5-10 years.
Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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Barangaroo development will revitalise East Darling Harbour

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The growing number of people choosing to downsize and reside in inner city apartments is a well-established trend that has been happening in international cities for quite some time.
In Sydney this trend has taken a couple of decades to surface, with large-scale building of major high-rise developments in the inner city only starting in the early 1990s.
In recent years, however, our most inner city area – spanning from The Rocks – Woolloomooloo has undergone a cosmopolitan makeover and new property developments have attracted an influx of diverse, wealthier residents who are embracing the perks of city living.
Most of the time these new developments offer spectacular views, have 5-star facilities that require no maintenance, and are located just minutes from work, fantastic restaurants, great shopping, entertainment, numerous transport options and everything else Sydney has to offer.
The shift toward apartment living in Australia, particularly in the capital cities, has been highlighted in recent ABS numbers.
Furthermore, stand-alone housing approvals are at recessionary levels, while apartment approvals are at an all-time high.
There are many factors contributing to the rise in inner city living.
A growing number of Sydney-siders are shying away from the great Aussie dream of a home with a backyard and a pool, in favour of an inner city pad.
Empty nesters are growing tired of maintaining large homes once their children have moved out, and many people are abandoning the long daily commute to be close to work, and adore the vitality, convenience and cosmopolitan vibe that the inner city offers.
This property trend is likely to continue as the population ages and we are already experiencing a surge in demand for 1-2 bedroom apartments in convenient locations.
With this amazing city maturing every year, conditions are ripe with rental demand being driven up by these affluent, corporate executives attracted to the lifestyle that accompaniesinner city apartment living.
I predict median property prices in Sydney will rise by around 2-3% in 2013; and over the next few years, I expect our fabulous city to become more and more like other mature international cities including London and New York where apartment living continues to thrive.
Carlie Ziri is the director of <a target="_blank" href="https://www.lifestylepropertyagency.com/" rel="nofollow">Lifestyle Property Agency.</a>
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Median property prices in Sydney will rise by around 2% to 3% in 2013: Carlie Ziri

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For many people, an investment property forms part of their retirement plan. In order to avoid any major cracks in the future, this precious nest egg should be nurtured along the way so it lives up to its promise of financial security when the time is right.  
This is why it is so important that you select an agency that you can trust, to manage your property as if it were their own.  
With tax time looming it’s the perfect time to ensure you’re getting the right level of service from your agent. Paying a management fee covers more than just rent collection; it is also a tax deductible service that should ensure your agent keeps your property well maintained and earns you maximum rental return.  
To ensure successful management of your investment property and returns, you need to work with a qualified agency that has a committed and professional approach. Your agency must have attention to detail, knowledge of all the appropriate legalities, and efficient procedures in place to manage the day-to-day demands of a portfolio of investment properties.
The average management fee in NSW ranges between 5% – 7% depending on location and service provided. However, it is the little things that will set a great agent apart from the average.
Ensuring the property is spotless when a tenant leaves is so often overlooked; with dirty vents, cupboards, light fittings and many small areas missed during a vacate inspection. These issues will just build up over each new tenancy and lead to early replacements. A good agent will also ensure everything is in working order rather than waiting for the new tenant to advise.
Detailed pictures of the property are essential in today’s market. Images ensure there is no debate over the condition of the property at the end of a lease, and with a furnished property, an agent can ensure the property is styled as beautifully as it was when it was handed over.
Organising cleaners, removalists, tradesmen and sourcing any service the property or landlord needs should all be part of the deal and at the end of the financial year, your agency should give you a complimentary end of year statement to pass on to your accountant.
Finally, communication is key. Keeping landlords up to date with values and market trends is something our agency is passionate about delivering on a regular basis.
Rohan Alexander, my Associate Director at Lifestyle Property Agency, has specialised in managing and leasing inner city properties for over a decade and always goes above and beyond for clients. Just recently, to ensure a deal was closed for the landlord, he organised a crane to lift a large piece of furniture onto the balcony as it wouldn’t fit in the lift of the apartment building. Both the landlord and tenant were extremely happy with the outcome.  
According to Rohan, the following checklist outlines everything a good property manager should be doing for their clients:
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Manage the property like it’s your own. Be positive, enthusiastic and proactive – there is always a solution!
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Ensure there is a minimum of two routine inspections per annum – it is essential to monitor the property during tenancies. Many agencies don't even carry out one inspection per annum!
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<li>
Review the market rent every 6-12 months, depending on the length of the tenancy. The smallest increase will maximise your return
</li>
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Have a great relationship with both the owner and tenant; looking after both parties ensures a smooth tenancy
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Be proactive with maintenance rather than reactive
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Ensure your tradesmen are good at what they do, are reasonably priced and reliable
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Always return calls! Many people don’t hear back when enquiring about a rental property. Prospective tenants, owners and current tenants should always receive a response, whether it is good or bad news
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Choosing the right agent is worth the initial investigation and like anything the cheapest is not always the best. Make sure that this small tax deductible cost is working for you and your property portfolio, to maximise the opportunity for positive capital growth in the future.
Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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The importance of choosing the right property manager for your investment: Carlie Ziri

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The Sydney 2000 postcode is unlike any other property market in the country.
It is predominantly an investor market with almost two-thirds (63%) of its 14,000 apartments currently leased to tenants.
It is a unique and dynamic market but it can also be fickle and erratic. With over 20 years’ experience selling and leasing inner city property, I am passionate about educating buyers on how to make their investment in our beautiful city work in their favour.
The key to success is to have an innate understanding about what you are buying, and a realistic view of the returns and capital growth you can expect to see in the short, medium and long term.
Within the Sydney CBD, there are three distinct markets with different characteristics that investors need to be aware of:
City North – covers Margaret Street through to Walsh Bay
Mid City – starts from Hunter Street through to Bathurst Street
City South – runs south of Bathurst Street through to China Town
Property prices vary between these precincts, with the City South home to more affordable residences, while the northern tip of the city offers some of the most expensive real estate inAustralia, with apartments achieving over $65,000 per square metre for a small piece of Sydney’s inner city lifestyle.
One thing that is common among all of these precincts is volatility, and the return on your investment can vary dramatically depending on where the property is located and what attributes it has.
For example, in the space of one week, I negotiated a deal where one client made over$300K on an apartment she owned for just 12 months, while another client made a $25K loss on an apartment he owned for over 15 years.
These apartments were located within three blocks of each other; however the latter apartment had no view, balcony or parking, while the former offered all three of these imperative attributes.
At the moment, there is no shortage of premium apartments with big price tags in new city developments; there is however, a high demand for one and two-bedroom apartments in the more affordable price range of $550,000 to $1 million.
With many buyers looking to purchase before the end of the financial year, owners with inner city properties priced between $550,000 and $1 million are in a prime position to achieve a record price over the next few weeks.
The tricky part is finding a vendor who is willing to sell; most I have spoken to are achieving such great returns, they are not willing to sell.
The Sydney CBD offers buyers a secure investment in the medium to long-term, and with the right choice, rental returns are higher than other Sydney suburbs.
However, it is imperative that the property ticks certain boxes.
There are five key things I strongly recommend you look for to ensure your inner city purchase is a successful venture:
1) Building: Purchase in a well-managed and desirable development
2) Views: Harbour or iconic views attain the highest capital growth. If your budget is limited, ensure you at least have a great city outlook
3) Parking: Although not essential, it has a big impact on your property’s re-sale value
4) Outgoings: Ensure outgoings are reasonable and have long-term sustainability
5) Location: Buy in a development that is well placed to offer residents a fabulous inner city lifestyle with key desirables in arms reach i.e. transport, shopping, restaurants,entertainment and parks.
Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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Five tips for investing in the Sydney CBD residential market: Carlie Ziri

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I often get asked by my investor clients about whether they should furnish their investment properties.
The answer to this really depends on your market and current demand.
For example, over the past few years in inner city Sydney, I have seen a growth in the number of investors who choose to furnish their apartments not just for a higher financial return but also for practical reasons – with many choosing to live in the property between tenancies.
Overall, there is much more interest in unfurnished properties in this market; around 75% of my clients who are looking for a lease property will ask for an unfurnished place that can be fitted out to suit their taste and style. Generally, unfurnished tenancies are longer-term leases with minimal vacancy and wear and tear.
However, good quality unfurnished apartments available for lease in the inner city are getting harder to come by with close to 85% of apartments sold in this market over the past year have been to owner-occupiers.
If you do decide to furnish your property to lease, there are a few key things you will need to consider:
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Furnished properties generally have a shorter lease term – usually between 3-12 months – so you need to factor in a higher turnover of tenancies, which means increased possibility of vacancy and more frequent leasing fees.
</li>
<li>
If you are going to do it, it needs to be done well! Your apartment needs to be beautifully styled and warm and inviting. It also needs to be fully equipped; it’s easy to forget the smaller details like kitchen utensils, vacuum cleaners, linen, and so on.
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<li>
Monitor all your furnishings and ensure that your entire inventory is well maintained. Items should be replaced promptly if they are not working. Most properties need an update of furnishings or restyling every 3–5 years
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When furnishing an investment, you need to be aware that although you may receive a premium of between $100-$250 a week for the furniture; once you have factored in the probable vacancy due to the shorter-term leases, the maintenance of inventory items and extra agency fees – you’re likely to achieve a better return on an unfurnished property.
In saying this, if your investment is more of a lifestyle choice and you’re able to use your city pad in between tenancies, then enjoy!
Carlie Ziri is the director of <a target="_blank" href="https://www.lifestylepropertyagency.com/" rel="nofollow">Lifestyle Property Agency.</a>
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The pros and cons of furnishing your investment property

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Apartment living can be fabulous, but with over 70,000 residential strata developments in NSW alone, there are several things to consider before committing to purchase, the most obvious being budget, location and lifestyle.
It is also important that the size of the building be taken into account. For example, if you want modern facilities including a gymnasium, pool, and concierge service, you may want to consider a larger development – more people contribute to maintenance and management costs, making outgoings more reasonable in the long term.
And then there is the endless stream of other questions you need answered before proceeding with the investment. Is the building pet friendly? What is the split between owner-occupiers versus tenants? Are the outgoings (levies) sustainable over the long term? Is the development well managed by a reputable company and are there any pending issues? Are the common walls well insulated? Will your views ever be built out? What is the capital growth potential, rental return and demand? What are the by-laws of the building that you need to adhere to?
The good news is that you don’t have to figure it all out on your own. There is plenty of assistance and support at hand for apartment owners and investors that can provide answers while saving you time and money.
Firstly, you should have a good conveyancer who can give you the right advice about the contract, by-laws and all other terms relating to the purchase.
Unlike buying a house, the reality of communal living is that you are investing in an entire building development and essentially buying the air space, fixtures and fittings that are within the apartment. Common walls and common areas are the responsibility of the owners' corporation on or executive committees of each development, making it imperative that you thoroughly research the building and its history before purchasing.
The easiest way to investigate this is to find a good strata search company that can arrange a comprehensive strata report on the particular building you are looking at. This will cover all the necessary information on the development, including whether the sinking fund has a sufficient amount and the minutes from previous strata meetings. The report will also shed light on any short or long-term structural issues that could cost you in the future.
Another great source of assistance is The Owners Corporation Network (OCN), a not-for-profit organisation established in 2002 by representatives from 13 of Sydney’s largest buildings at the time.
Karen Stiles, OCN’s executive officer, says that by working closely with the government and industry bodies and hosting various forums, meetings and seminars, the OCN’s ultimate goal to improve strata living.
According to Stiles, over half the new dwellings to be built in our metropolitan areas over the next decade will be strata-titled. She says that it is essential that Australians transition as painlessly as possible from the idea of being the kings of their quarter-acre blocks to living in a well-managed ‘vertical village’.
Stiles added that the OCN is a support network that thrives because very few people have the knowledge or skill required to effectively manage their assets particularly when dealing with developers, builders and contractors in an increasingly complex area.
Carlie Ziri is the director of <a target="_blank" href="https://www.lifestylepropertyagency.com/">Lifestyle Property Agency.</a>
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How to decide what is most important when buying an apartment

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When purchasing an apartment, all investors and owners share common goals: to ensure the value of their property increases and that their property’s development is well managed for the entirety of its future.
This is why I am often surprised when I come across clients who underestimate the impact that a building management firm can have on their investment. Investing in a building that is managed by a reputable, knowledgeable and responsive company is essential for the maintenance of the development’s assets, which ultimately contributes to the property’s long-term growth.
When a new building’s executive committee is deciding on which company to appoint to manage the development, the decision is often based on cost. Unfortunately, this can affect the long-term value of the development, as there are many other factors that need to be considered.
An established and capable building management firm will have a highly skilled team and structured processes to ensure the building is maintained on a daily basis, preventative maintenance schedules are operational and managed effectively, bylaws are adhered to, a detailed monitoring system is in place, and security systems are well-maintained and updated annually.
The company should also be financially savvy, cost-effective, and have experience in preventative and corrective maintenance and dealing with OH&amp;S standards. The firm should also have a good selection of quality service providers to maximise the longevity of the development’s assets.
Defect management is another important issue which falls under the realm of building management. Where owners are within their seven-year home owner's warranty period, defects should be raised immediately to the builder and the Home Owner Warranty insurer.
My husband, George Ziri, who is director of Building Facilities Management Solutions (BFMS Pty Ltd ), says when discussing defect management, the building manager should always conduct themselves in an impartial manner to establish credibility between the owners and the builder/developer.
Building managers also need to be realistic when producing defect reports. According to George, it’s best to wait for the sixth year of the home owner's warranty before the owner works with an independent building consultant to review the property and status of defects.
This review will give both the owner and builder the assurance of independent advice. The consultant will also support the owner as an expert witness, in the event they wish to pursue any legal matters.
Reliable and trusty building management is essential in all developments. For investors, property location and views can go a long way in ascertaining the value of their purchase; but, it is also worth remembering the building’s management also plays a large part in determining what an investment is worth now and in the future.
Carlie Ziri is the director of <a href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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A capable building manager will increase the value of your investment property: Carlie Ziri

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<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/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Carlie Ziri

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