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Chapel Street has regained favour with retailers after a quiet leasing period, according to real estate agents Fitzroys.
Fitzroys City retail team leasing executive Michael Rainey said there has been a resurgence in enquiries for spaces along Chapel Street, South Yarra, Prahran and Windsor, led by high-quality fast-food and fashion operators.
“Chapel Street is quickly becoming a fast food destination with recent deals done with Mexican restaurant Fonda at 144 Chapel Street, Windsor, and the popular American ice creamery Ben &amp; Jerry’s, opening their first Melbourne store at 151 Chapel Street, Windsor,” he said.
The increase in enquiry from food operators has typically been in the slightly lower rental pockets, such as Vietnamese restaurant Miss Chu opening up a site at 276 Toorak Road, South Yarra.
<img alt="south-yarra-retail-aug-21-two" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-two.jpg">
Other retailers moving into Chapel Street include American hot-dog specialist Massive Wieners expanding into 226 Chapel Street, with plans for 24-hour operation.
Fitzroys city retail has also overseen French macaron manufacturer A La Folie move into 589 Chapel Street, and fast-growing health juice operator Press Juices has taken up Shop 4, 286 Toorak Road, South Yarra.
International Chinese tea retailer Quali-T has leased 173 Toorak Road.
Mexican concept chain Zambrero’s has also recently taken up 374 Chapel Street, South Yarra, with the organisation matching their meals served with donations to their own charity.
In the Prahran area, Fitzroys has overseen UK menswear retailer Peter Werth move into 216 Chapel Street, and Cotswald Furniture is opening in High Street.
Rainey said the Peter Werth deal followed an increase in the number of fashion operators taking space in the edgier section of Chapel Street in recent years. Popular brands Jack London, Gorman, White Suede and Dangerfield have all taken up space in the area.
Rainey added that South Yarra was showing once-in-a-generation opportunities for retailers to look beyond the cycle and secure high quality shops on long-term leases that have not been available for decades.
<img alt="south-yarra-retail-aug-21-one" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-one.jpg">
“Landlords are meeting the market where required and the resurgence in enquiry over the past few weeks and months should see most stock leased within a short time frame.”
“The fundamentals of the strip remain quite healthy.”
He said rents on Chapel Street typically ranged from $1,000 to $1,500 per sqm, and Toorak Road from around $600 to $800 per sqm.
The South Yarra end has been working through rental adjustments from the highs of 2007/08, perhaps to the benefit of the Prahran and Windsor parts of the strips, which have seen some new retail faces with leases to IGA and a major bar and restaurant soon to be announced.
Fitzroys senior manager Charles Emmett said many of these groups were gearing up to serve the surge in local population attributable to the high volume of apartments going up in Forrest Hill, as well as the old warehouse sections to the back of Chapel Street, South Yarra and Prahran.
He said rents in the Prahran section of Chapel Street were currently between $700 and $900 per sqm.
Fitzroys’s city retail team is now leasing the former Bettina Liano shop at 471 Chapel Street, South Yarra, as well as the ex-Puma site at 514 Chapel Street, South Yarra.
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Chapel Street regains retail interest: Fitzroys

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Perth has demonstrated positive capital growth over the last two decades, according to the latest report by property analyst Residex.
The report, which covered both metropolitan and country areas for each capital city, showed that the Perth house market has shown capital growth at an average of 8.56% per annum in the last 20 years.
Capital growth for Perth houses increased by 7.13% in the twelve months to July this year. It also increased by 1.34% from the last quarter.
The Perth unit market has also shown positive capital growth at an average of 7.83% per annum.
Capital growth for Perth units increased by 4.94% in the twelve months to July this year. It also increased by 0.81% from the last quarter.
According to Residex, the median house price in Perth is currently $510,000, while median rental yield is 4.86%. Median asking rent for July this year stood at $475 per week, up 5.56% on last year, where median asking rent was $450 per week.
The median unit price in Perth is currently $452,000, while median rental yield is 5.16%. Median asking rent for July this year stood at $445, and remains unchanged on last year.
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Perth shows solid 20 year capital growth: Residex

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The Settlers Tavern in Gosford has been snapped up by NSW hotelier Phil Bernie for $2.41 million.
Located at 57 Central Coast Highway in Gosford, the the two level hotel features two bars, indoor and outdoor gaming areas, a TAB, commercial kitchen and bistro, as well as office and storage space.
The hotel is part of the Settlers Complex which includes a service station, Hungry Jacks, Red Rooster, proposed convenience store, and on-site parking.
The 5,021 square metre property sold at auction through Daniel Dragiceviech of CBRE, in conjunction with Manenti Quinland &amp; Associates. The vendor was the former head of the Australian Hotels Associate Bob Bourne, who previously owned and operated the hotel for 30 years. 
According to RP Data records, 3/57 Central Coast Highway last sold in 1998 for $1.32 million, 6/57 Central Coast Highway last sold in 2002 for $850,000, and 10/57 Central Coast Highway last sold in 2012 for $400,000.
In total, the property last sold for $2.57 million prior to this sale.
Dragicevich noted that the sale represented increased activity in the NSW pub market.
“The current low interest rate environment continues to make hotel investment more attractive, with this sale just one in a string of recent pub transactions across NSW,” Dragicevich said.
The purchase of Settlers Tavern adds to Bernie’s hotel portfolio, which includes the Swansea Hotel and Mayfield Hotel in Newcastle.
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NSW hotelier Phil Bernie purchases Settlers Tavern

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A 1790 square metre commercial property site currently occupied by tiling company Price Tiles in Leichhardt, NSW has been put up for auction.
Located at <a href="https://www.realcommercial.com.au/property-land+development-nsw-leichhardt-500836335" target="_blank">33 Flood Street</a>, the site (pictured above) has been made available for the first time in 44 years, according to listing agent Michael Montano of Raine &amp; Horne Commercial.
On the site stands an office and storage building that measures 1445 square metres over two levels. It is defined by 7 lots on Flood Street, and located in a zoned residential area. It is also walking distance to parks, public transport, shopping centres and other amenities.
Montano told Property Observer the property used to be a timber yard before Price Tiles purchased it for $39,000 in 1969. 
“The building itself is unrenovated and a bit dilapidated. The main part of the building is where it was the original timbre yard; it has a solid brick wall with nice timbre trusses and exposed beams.
"It hasn't been updated for some time and really reflects yesteryear,” he said.
The listing states that the property could be potentially used for residential developments, childcare facilities, education establishments and aged care services.
Montano added that the property market in Sydney’s west has been “robust”, and the site has attracted interest from childcare operators as there has been a “shortage of that".
The property is available to view by appointment, and goes to auction on Saturday, September 21.
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Redevelopment opportunity as Leichhardt tile showroom listed for auction

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A one-bedroom apartment in St Kilda was the cheapest auction sale in Victoria on a recent Saturday, according to Australian Property Monitors.
The unit at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-st+kilda-114369799">5/50 Carlisle Street</a> sold for $254,000 through Greg Hocking St Kilda.
The unit was listed with a price guide of “$235,000 to $260,000”.
It had been listed for rent in 2007 at an asking price of $215 per week, in 2012 at an asking price of $260 per week, and in June this year at an asking price of $250 per week, according to RP Data records.
Listing agent Rowan Bustin told Property Observer that the unit was currently rented out at $250 per week, the price reflecting a 5.12% rental yield.
Bustin also told Property Observer the auction was “very vibrant”, after the starting bid at $240,000. 
Bustin said the successful bidder was an investor.
“It is a very good investment with an over 5% return,” he said.
The block of units at 50 Carlisle Street has traditionally been priced quite cheaply in comparison to other units in the area. Recorded sales include unit 10, which sold in 2008 for $210,000, and unit 14 which sold last year for $290,000.
“The block is a great spot. Obviously there's some concern about the space it is situated in, it is two minutes from the red light district. But it is a well-policed area,” Bustin said.
He noted that St Kilda has been a popular suburb for investors as units for lease are snapped up very quickly and are rented at “realistic value”.
“With the cash rate, it is a stimulant for market activity and people buying in the area,” Bustin said. 
He added that most investors are couples who are looking to buy into the area.
Conversely, Bustin also noted that young females are dominating the St Kilda market.
“The buyers we've seen recently are young female, not the male purchaser anymore,” he said. 
But he cited a one-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-114288379">2/84 Blessington Street</a>, which was listed for sale with a price guide of “$260,000 to $280,000” and sold at auction for $325,000 when purchased by parents for their son.
According to the <a href="/news">latest RP Data report</a>, the median sale price for units in St Kilda is $450,000, down 4.3% on last year. The average discount required to sell a unit is 6.9%, while private treaty sales average 91 days on market.
The median asking rent for units is $380, while gross rental yield currently stands at 4.4%. 
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St Kilda cheapies sells for $254,000 as investors compete with helpful parents

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Underutilised Commonwealth government land could make way for thousands of new homes, increasing property supply levels and improving housing affordability, according to a report by urban development peak body Urban Development Institute of Australia.
The report suggests that the Commonwealth government should undertake thorough regular audits of its land assets in order to effectively identify and determine surplus land spaces available for housing development.
“There are numerous examples of redundant or underutilised commonwealth land such as defence sites occupying prime city locations,” said UDIA national president Julie Katz.
“They’re often in older, established areas, and already have good access to transport, employment and community infrastructure such as schools and shops, making them perfect for infill development.
“Development of surplus sites could provide a rapid and cost effective way of bringing much needed new housing to market, improving affordability and supporting jobs in the process,” Katz said.
Currently, there are 16 properties listed on the <a href="https://www.finance.gov.au/property/lands-acquisition/register-surplus-commonwealth-land">Register of Surplus Commonwealth Land</a>. The Department of Finance and Deregulation advises that the register “is not a full list of surplus Commonwealth land holdings”. 
The UDIA has highlighted two sites that could potentially provide an additional 1000 homes in Queensland and 750 homes in South Australia.
The Bulimba Army Barracks at 167 Apollo Road measures around 23 hectares.
The UDIA’s policy officer Liam Foley told Property Observer the site has “the potential for a mixed use retail/residential precinct, which could yield over 1000 dwellings at 50+ dwellings per hectare.”
In addition, the Keswick Army Barracks in Unley measures around 12.5 hectares, with the potential to house 60 dwellings per hectare.
“The city of Unley have done considerable work on this site by preparing a mixed use scheme. They have discussed it with the Commonwealth and it was mooted for release at one stage, but there has been little recent activity,” Foley said.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median sale price for houses in Bulimba is $880,000, up 3.5% on last year. The average discount required to sell a house is 11%, while private treaty sales average 99 days on market. 
The median asking rent for Bulimba houses is $585 per week, while gross rental yield currently stands at 3.5%. 
The median sale price for units in Bulimba is $565,000, up 4% on last year. The average discount required to sell a unit is 6.7%, while private treaty sales average 122 days on market. 
The median asking rent for Bulimba units is $500 per week, while gross rental yield currently stands at 4.6%. 
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median sale price for units in Keswick is $295,000, up 24.9% on last year. The average discount required to sell a unit is 6.5%, while private treaty sales average 93 days on market. 
The median asking rent for Keswick units is $245 per week, while gross rental yield currently stands at 4.3%.
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Surplus Commonwealth Government land should be used for housing: UDIA

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Non-bank lender State Custodians is currently offering one of the lowest variable rates on the market, according to a search across mortgage comparison websites by Property Observer.
State Custodians offers a variable rate of 4.74%.
Its Peak Performance Offset home loan allows for a maximum of 80% loan to valuation ratio, and can be used as either an owner occupier or investment loan.
Variable rates may fall further if the Reserve Bank of Australia (RBA) announces a further rate cut today.
The Greater Building Society offers the lowest one-year fixed-rate home loan at 3.99%. Property Observer reported last week that it is <a target="_blank" href="/news">currently the only home loan with a rate below 4%</a>.
HomeloanHQ currently offers the lowest thee-year fixed-rate loan at 4.69%. The Rate Lock Home Loan can be used for both purchases and refinance, and allows for a 75% loan to valuation ratio.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a target="_blank" href="https://www.homeloanfinder.com.au/">finder.com.au</a> as of August 2:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table border="1" cellspacing="0" cellpadding="0" width="469"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="125">
Loan name
</td>
<td valign="top" width="93">
Rate
</td>
<td valign="top" width="117">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
State Custodians
</td>
<td valign="top" width="125">
Peak Performance Offset
</td>
<td valign="top" width="93">
4.74%
</td>
<td valign="top" width="117">
5.11%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="125">
UHome Loan (Refinance Only)
</td>
<td valign="top" width="93">
4.87%
</td>
<td valign="top" width="117">
4.87%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="125">
Dream Loan Express
</td>
<td valign="top" width="93">
4.87%
</td>
<td valign="top" width="117">
4.89%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="469"><tbody>
<tr>
<td valign="top" width="125">
Provider
</td>
<td valign="top" width="113">
Loan name
</td>
<td valign="top" width="84">
Rate
</td>
<td valign="top" width="106">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="125">
Greater Building Society
</td>
<td valign="top" width="113">
Ultimate Home Loan package
</td>
<td valign="top" width="84">
3.99%
</td>
<td valign="top" width="106">
5.46%
</td>
</tr>
<tr>
<td valign="top" width="125">
Newcastle Permanent
</td>
<td valign="top" width="113">
One year fixed rate
</td>
<td valign="top" width="84">
4.39%
</td>
<td valign="top" width="106">
5.69%
</td>
</tr>
<tr>
<td valign="top" width="125">
UBank
</td>
<td valign="top" width="113">
UHome Loan for refinancing
</td>
<td valign="top" width="84">
4.68%
</td>
<td valign="top" width="106">
4.79%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="473"><tbody>
<tr>
<td valign="top" width="133">
Provider
</td>
<td valign="top" width="130">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="115">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="133">
HomeloanHQ
</td>
<td valign="top" width="130">
Rate Lock Home Loan
</td>
<td valign="top" width="95">
4.69%
</td>
<td valign="top" width="115">
5.19%
</td>
</tr>
<tr>
<td valign="top" width="133">
Resi
</td>
<td valign="top" width="130">
FlexiFix Plus 75
</td>
<td valign="top" width="95">
4.78%
</td>
<td valign="top" width="115">
5.54%
</td>
</tr>
<tr>
<td valign="top" width="133">
Mebank
</td>
<td valign="top" width="130">
Three year fixed (member package rate)
</td>
<td valign="top" width="95">
4.79%
</td>
<td valign="top" width="115">
5.26%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a target="_blank" href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.</body></html>

The cheapest fixed and variable home loan rates on offer starting from 3.99%

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The Greater Building Society has cut its one year fixed home loan rate by 40 basis points to 3.99% ahead of Tuesday’s Reserve Bank meeting where the cash rate is expected to be cut to 2.5%.
The Greater home loan rate will be available from Monday, August 5, as part of a packaged home loan rate offering.
The current rate stands at 4.39%.
A search across mortgage comparison websites revealed that no other lender is currently offering a home loan rate below 4%. It continues a trend of lenders cutting their fixed-rate loans.
The comparison rate will be 5.44%.
The Greater will also be cutting two other one year fixed home loan rates on Monday by 40 basis points.
The Great Rate Home Loan will have a 4.19% interest rate and a comparison rate at 5.33%, while the Standard Home Loan will have a 4.55% interest rate and a comparison rate at 5.69%.
The Newcastle Permanent Building Society currently offers the next lowest one year fixed home loan rate at 4.39%, with the comparison rate at 5.56%
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Greater Building Society cuts one year fixed-rate loan to 3.99%

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The Oceanside Hawks Nest motel, which was once John Howard’s favoured family holiday retreat, has been listed for sale.  
Located on the corner of Booner and Bennett Streets in Hawks Nest, on the mid-north coast of New South Wales, the motel sits on a 2,688 square metre site.  
It houses a total of 52 units, 31 of which are freehold motel rooms and 21 are one and two-bedroom serviced apartments.  
The motel is located 70 metres from the beach, and facilities include a heated pool, spa, and water slide. It recently underwent a substantial refurbishment, with close to $250,000 spent upgrading the property.  
Also on site is a fully leased restaurant, café, a sports bar, substantial car parking, as well as zoning for long-term redevelopment.  
The listing is managed by Paul Kapiris and Rob Cross of CBRE Hotels.  
Cross told Property Observer the listing is expected to fetch around $5 million.  
He also said that the widening gap between low current interest rates and investor returns for hotels and motels provides a solid opportunity for investors to enter the market place and achieve strong returns.  
“Recently, we have heard of hoteliers locking in interest rates around or even below 5%, making the purchase of a hotel or motel that provides double digit returns a favourable investment,” he said.  
According to Kapiris, the hotel would attract strong interest from owner operators, as well as investors because of its solid trading history.  
“The motel is currently owned by a Sydney based investor, with a management couple taking care of the day to day operations.”  
“Whilst the asset currently performs well, an experienced owner operator would be aware of the inherent upside available with a more hands on approach to management,” he said.  
According to RP Data records, the site was last sold in 2003 for $3.8 million. Prior to this sale, it was sold in 2001 for $1.35 million.  
The property has been listed for sale through an expressions of interest campaign. Applications close on Wednesday, 4 September.
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John Howard's favourite holiday retreat Oceanside Hawk's Nest listed for sale

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The Stirling local government area (LGA) in WA has been enjoying high market activity over the last five years, as well as rental demand in the March quarter of this year, according to the latest report by PRD nationwide. 

 The Stirling LGA includes Balcatta, Balga, Carine, Churchlands, Coolbinia, Dianella, Doubleview, Glendalough, Gwelup, Hamersley, Inglewood, Innaloo, Joondanna, Karrinyup, Menora, Mirrabooka, Mount Lawley, Nollamara, North Beach, Osborne Park, Scarborough, Stirling, Trigg, Tuart Hill, Wembley Downs, Westminster, Woodlands, and Yokine. 

 Over a five-year period ending in the first quarter of this year, house transactions in the Stirling area accounted for 30% of all house transactions in Central Perth (listings within a 15km radius of Perth CBD). Similarly, unit transactions in the Stirling LGA made up 28% of all transactions over a five-year period ending in the March quarter of 2013. 

 Central Perth is also seeing a resurgence in rental listings as demand continues to grow as a result of increased mining activity in Western Australia. It recorded 47% of house rental listings for the March quarter of this year, with the Stirling LGA recording 10% of the Perth citywide market. 

 According to PRD nationwide research analyst Angus McLean, the Stirling LGA recorded 907 house rental listings for the March quarter, with a median asking rent of $550 per week, reflecting an 11% increase on last year, when the median asking rent was $490 per week, according to data from the REIWA. 

 <a href="/news">North Beach</a> saw one of the largest annual increases in asking rent. For the March quarter of 2013, the median asking rent was $610 per week, up 30% on last year where the median asking rent was $425 per week


Conversely, <a href="/news">Inglewood</a> saw one of the largest annual drops in asking rent. For the March quarter of this year, the median asking rent was $560 per week, down 16% on last year where the median asking rent was $650 per week. Central Perth dominated the unit rental market with 86% of listings.

 The Stirling LGA once again proved to be a popular area with 17% of all listings for Central Perth. It recorded 957 listings and a median asking rent of $420 per week during the period, according to data from the REIWA. Scarborough saw one of the largest annual increases in asking rent. 

For the March quarter of this year, the median asking rent was $460 per week, up 17% on last year when it was at $380 per week. PRD nationwide director of Perth project marketing Angus Murray told Property Observer the Perth property market is “very strong” across the board. 

 “There is a shortage of listings in Perth, and we are well undersupplied. It’s pushing prices a little.” 

 “There is about a 6% increase in pricing in the last 12 months, and I expect it will be a similar amount in the next 12 months as there is a shortage of stock,” he said. 

 He revealed that the Sterling market is mainly driven by families and people looking to upgrade, especially from other parts of Perth. Some pull factors include its proximity to the Perth CBD and established schools in the area. 

 Located about 10 kilometres north of the Perth CBD, Stirling is accessible by the Mitchell Freeway and Stirling train station. A train ride to Perth city takes about nine minutes. According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Stirling is $775,000, up 4.3% on last year. 

The average discount required to sell a house is 8.9%, while private treaty sales average 87 days on market. 

 The median asking rent for houses in Stirling is $750 per week, while gross rental yield currently stands at 5%. Houses that have recently sold in Stirling include: 

 <a href="https://www.realestate.com.au/property-house-wa-stirling-113515191">3 Skua Street</a>

The three-bedroom house (pictured below) sold for $653,000 through Professionals Realty in April this year. 

Prior to this sale, it sold in 2008 for $495,000, in 2001 for $215,000, and in 1994 for 152,800 according to RP Data records. It was listed for sale at “offers from $669,000”, and was on the market for 9 days. 

In addition, it was listed in January 2008 with an initial price guide of “$560,000 to $575,000”, which was subsequently adjusted to “$550,000 to $560,000” and spent 257 days on the market according to RP Data records.

<a href="https://www.realestate.com.au/property-house-wa-stirling-112483075" target="_blank"></a><a target="_blank" href="https://www.realestate.com.au/property-house-wa-stirling-112483075">247 Odin Drive</a>

The four-bedroom house (pictured below) sold for $810,000 through Realmark Premier Gwelup in February this year. 

Prior to this sale, the 669 square metre house sold in 2007 for $785,000, and in 2003 for $429,000, according to RP Data records. 

 It was listed for sale with a “all offers invited” price guide in February this year, and was on the market for 17 days. In addition, it was listed for sale in March 2007 with a price guide of “from $769,000”, and it spent 64 days on market. It was also listed for sale in 2006 at an asking price of $850,000, spending 23 days on market, and again in 2003 for $444,000 where it spent 78 days on market, according to RP Data records. 

 <img width="470" height="353" alt="STIRLING_0002_stirlingjuly31two.jpg" src="/images/stories/2013/07/STIRLING_0002_stirlingjuly31two.jpg.jpg"> Houses currently for sale in Stirling include: 

 <a href="https://www.realestate.com.au/property-house-wa-stirling-114365491" target="_blank"></a><a target="_blank" href="https://www.realestate.com.au/property-house-wa-stirling-114365491">35 Cassino Drive</a>

The four-bedroom house (pictured below) has been listed for sale by Altitude Real Estate Subiaco at an asking price of “from $895,000”. It last sold for $495,000 in 2007 and for $395,000 in 2005, according to RP Data records. 

 It has also been listed for rent in July last year at an asking price of $750 per week. The asking price was subsequently adjusted to $720 per week later that month, according to RP Data records. <img width="470" height="353" alt="STIRLING_0001_stirlingjuly31three.jpg" src="/images/stories/2013/07/STIRLING_0001_stirlingjuly31three.jpg.jpg"> <a href="https://www.realestate.com.au/property-house-wa-stirling-113764135" target="_blank">2B Grebe Street</a> The three bedroom house (pictured below) has been listed for sale with a price guide of $620,000 to $640,000 through Professionals – the Kelly team. 

It last sold for $94,000 in 1993, according to RP Data records. It was also listed for sale from December last year to April this year with an “expressions of interest” campaign that spent 113 days on the market, according to RP Data records. <img width="470" height="353" alt="STIRLING_0000_stirlingjuly31four.jpg" src="/images/stories/2013/07/STIRLING_0000_stirlingjuly31four.jpg.jpg">
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Stirling a hotbed for the resurgence in Central Perth property market

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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Joel Robinson

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>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Diane Leow

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