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A one-of-a-kind family home in Balmoral, Queensland is for sale.
Gail Babbage has listed her circular four-bedroom home with three bathrooms.
It used to be a water tank - part of the Balmoral Reservoir.
Its conversion into the unique property in the 1990s was undertaken by the architects Conrad Gargett Riddell.
The house has concrete walls, and features three levels with a hollow centre. The entrance is on the ground level via a normal door.
A garage and play areas are also on the ground floor. Windows are strategically placed, as the property offers beautiful views all around.
On the upper levels are the bedrooms and bathrooms, kitchen, and dining area with a fireplace. There are also open balcony areas offering 360-degree views of the city.
The master bedroom also has a private office that can be accessed by internal stairs.
The <a target="_blank" href="https://www.eplace.com.au/property.cfm?propertyID=2342010&amp;realestate=11_Apex_Street_Balmoral_QLD_4171">property</a> is listed through Sarah Hackett of Place Real Estate.
The house went to May 9 auction but did not sell. The tank is 900mm thick reinforced concrete at the base tapering off to 200mm thick at the top, with an  industrial structure facade designed to stand the test of time.
"There were three registered bidders, but it didn't sell as we're trying to get the best possible price for the owners," Hackett told Property Observer.
Hackett revealed bidding began at $2 million and ended at "the very early $2s [million]."
She added that the property's main value is land value. While the water tank itself is hard to price, she reiterated that the views are second to none.
According to the <a target="_blank" href="/news">latest report by RP Data</a>, the median house price in Balmoral currently stands at $800,000, up by 9.6% on last year. The average discount required a sell a house is 8.1%, and private treaty sales average 104 days on market.
The median asking rent for houses is $598 a week, and the average rental yield stands at 3.9%.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Formerly part of Balmoral Reservoir, converted Brisbane water tank house listed

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Once a boom mining town housing over 3,000 people before the local nickel mine closed, Greenvale, in the Dalrymple shire in Queensland, is now home to just 289 residents according to the latest census data. 
Yesterday, Terry Ryder wrote in his <a href="https://www.propertyobserver.com.au/residential/smart-investors-diversify-across-australia-s-many-different-property-markets-terry-ryder-hotspotting/2013060361880?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright" target="_blank">column</a> published in Property Observer that he met a man at the Brisbane Home Buyer and Property Investor Show who once owned 30 units and 16 houses in Greenvale at the height of the mining boom. 
When the mine closed down and the train line was removed, he then had to sell his properties for a song. 
Ryder highlighted this as a reminder that investors should not put all eggs in one basket. Instead, he recommends “having a geographical spread” of investment properties. 
Located approximately 220 kilometres northwest from Townsville, Greenvale lies on the banks of the Burdekin River on Gregory Developmental Road. It once had a nickel mine with ore carried by train to a processing plant in Yabulu between 1974 to 1993. The railway tracks were removed in mid-2000. 
Despite the fact that nickel mining operations have ended, more mining operations in the area have commenced. In particular, north Queensland mining company Metallica Minerals Ltd discovered one of the world’s largest deposits of the rare earth, Scandium, at a former Greenvale nickel mine. They are planning to launch the <a href="https://metallicaminerals.com.au/sconi" target="_blank">SCONI project</a> in the near future. 
Scandium is vital for making solid oxide fuel cells, which are used for generating electricity from natural gas and renewable fuels. 
With Metallica Minerals Ltd looking to reopen the mine, Lisa Palmer of Raine and Horne Charters Towers is optimistic about the Greenvale property market. 
“It’s not a hot market; it’s a specialist area. It’s not something that’s going to sell overnight. With the prospect of the mine opening, in the next six to twelve months investors will be more interested in these areas,” she told Property Observer. 
Palmer adds that movement in the market mostly comes from home owners who have decided to move on, or investors looking to buy in the area. 
While Greenvale is only about 220 kilometres from Townsville, Palmer feels the area is best for retired couples, young families who enjoy being away from the city, or people working in the grazing industry who are looking to be close to their place of work. 
According to the <a target="_blank" href="/news">latest report by RP Data</a>, an average discount of 10.9% is required to sell a house in Greenvale, and private treaty sales average 48 days on market. 
 
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Properties listed for sale in Greenvale include: 
<a target="_blank" href="https://www.reiq.com/House/for-sale/greenvale/2505369.aspx">8 Tristana Court</a>, a four-bedroom house listed for $185,000 by Raine &amp; Horne Charters Towers. The house last sold for $120,000 in 2008. It was also listed for sale in the same year for $145,000; and again in 2010 for $160,000 according to RP Data records. 
<a target="_blank" href="https://www.reiq.com/House/for-sale/greenvale/2504287.aspx">4 Grevillea Court</a>, a three-bedroom house (pictured below) listed for $100,000 by Raine &amp; Horne Charters Towers. The house last sold for $35,000 in 2004, and was sold at $69,990 in 1996.
<img src="/images/stories/2013/06/woollahrajune5one.jpg" width="470" height="262" alt="woollahrajune5one">
<a href="https://www.reiq.com/House/for-sale/greenvale/2163881.aspx">12 Grevillea Court</a>, a three-bedroom house listed for $260,000 by Jensen’s Real Estate &amp; Livestock. The house last sold for $105,000 in 2005. It has been listed for sale since March 2010. 
<a target="_blank" href="https://www.realestate.com.au/property-unit-qld-greenvale-113061431">2 Hakea Court</a>, a two-bedroom unit (pictured below) listed for $120,000 by Ray White Townsville. The unit last sold for $40,000 in 2011, and was also sold for $30,000 in 2007 according to RP Data records.
<img src="/images/stories/2013/06/greenvalejune5two.jpg" width="470" height="286" alt="greenvalejune5two">
<a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-greenvale-109490016">7 Hakea Court</a>, a two-bedroom unit listed for $115,000 by Jensen’s Real Estate &amp; Livestock. The unit last sold for $41,000 in 2011, and was also sold for $42,000 in 1996. It has also been listed for sale since February last year. 
Properties that have recently been sold in Greenvale include: 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-greenvale-111379103">8 Grevillea Court</a>, a three-bedroom house (pictured below) that sold for $87,000 last year. The house was sold in 2005 for $52,000, in 2004 for $27,000, in 2002 for $22,000, and in 1997 for $69,990. It was also listed for sale in 2008 for $170,000, according to RP Data records.
<img src="/images/stories/2013/06/greenvalejune5three.jpg" width="470" height="227" alt="greenvalejune5three">
<a target="_blank" href="https://www.realestate.com.au/property-other-qld-greenvale-108768196">1 Geranium Court</a>, a three bedroom house that sold for $89,000 last year. The house was sold in 2004 for $65,000, and in 1998 for $59,990 according to RP Data records.
Image of Greenvale railway track works courtesy of the National Library of Australia.
 
 
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Lessons from Greenvale, a former mining hotspot now tracking at a slower pace

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The Insolvency and Trustee Service Australia has released a postcode-based insolvency <a target="_blank" href="https://www.itsa.gov.au/resources/statistics/personal-insolvency-activity-by-postcode-1/personal-insolvency-activity-by-postcode-2011-12/personal-insolvency-activity-by-postcode-2011-12-1">report</a>, revealing that Cranbourne recorded the highest number of bankruptcies in Victoria in the last financial year.  
According to the report, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/victorian-bankruptcies-down-66-with-cranbourne-harbouring-the-most-bankrupts/2013050160936?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">108 Cranbourne residents were declared bankrupt in 2011-2012</a>, up by 10.2% from the previous financial year, where 98 residents were declared bankrupt.  
An additional 51 <a target="_blank" href="/news">Cranbourne</a> residents entered into a debt agreement to repay over an agreed period, up from 42 residents in the previous financial year.  
The median sale price for houses in Cranbourne currently stands at $310,000, down by 4.6% on last year. The average discount required to sell a house in Cranbourne is 7.6%, while private treaty sales average 75 days on market, according to the latest RP Data report.  
The median asking rent for houses in Cranbourne is $300 a week, while rental yield averages at 5.0%.  
The median sale price for units in Cranbourne is $240,000, down by 5.9% on last year. The average discount required to sell a unit in Cranbourne is 10.8%, while units spend an average of 138 days on the market.  
The median asking rent for units in Cranbourne is $258 a week, and the average rental yield is 5.6%.  
Located 43km southwest of the Melbourne CBD, Cranbourne has a population of 67,424.  
Australian Bureau of Statistics (ABS) data shows the median age of Cranbourne residents is 32 years. Children under 15 years of age made up 23.7% of the population, indicating Cranbourne is home to a number of young families.  
According to the 2011 Census, the median weekly income of residents in Cranbourne is $1297, while the median monthly home loan repayment is $1777.  
Of occupied dwellings in Cranbourne, 19.8% were owned outright, 56.1% were owned with a mortgage, and 20.7% were rented.  
51% of occupied private dwellings in the Cranbourne area have three bedrooms, while 37.9% of dwellings have four bedrooms or more. 0.1% of dwellings have one bedroom, and two-bedroom dwellings make up 8.5% of the total number of occupied dwellings.  
The 2011 Census also showed that the most common occupations in the Cranbourne area include technicians and trades workers (17.8%), clerical and administrative workers (16%), labourers (12.1%), machinery operators and drivers (11.6%), and professionals (11.4%).
Properties that have recently been sold in Cranbourne include:  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-113023615">26 Clairmont Avenue</a>, sold on 28 February this year for $282,000 by Ray White Cranbourne. The three-bedroom house previously sold for $195,000 in 2006 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112765171">2 Galway Place</a>, sold in January this year for $392,500. The four-bedroom house (pictured below) was listed in October last year for $399,000 for 87 days, and in August 2011 for $400,000-$429,000 for 196 days according to RP Data records.
<img height="320" width="470" src="/images/stories/2013/04/cranbournemay1one.jpg" alt="cranbournemay1one">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111236303">3 Harry Street</a>, sold on 22 November last year for $293,000. The three-bedroom house previously sold for $285,000 in 2010 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112085075">15 Jaye Place</a>, sold November last year for $325,600. The three-bedroom house previously sold for $295,000 in 2009 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111732511">65 Fairhaven Boulevard</a>, sold October last year for $347,000. The three-bedroom house (pictured below) was listed in September last year for $349,000 for 34 days, and in 2007 for $279,950 for 15 days according to RP Data records.
<img height="332" width="470" src="/images/stories/2013/04/cranbournemay1two.jpg" alt="cranbournemay1two">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-110970615">53 Jacinta Drive</a>, sold October last year for $300,000. The three-bedroom house was listed in July last year for $304,950 for 128 days, and in 2010 for the same price, according to RP Data records.
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Cranbourne tops Victorian bankruptcies in last financial year

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A one-bedroom apartment in Essendon North was recorded as the cheapest auction sale in Victoria for the past weekend, selling for $235,500 according to Australian Property Monitors (APM).  
Located at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-essendon+north-113454423">1/3 Royal Avenue</a>, the apartment (picture below) sold at auction on April 27 through Matthew Febey of Nelson Alexander Real Estate Essendon.
<img src="/images/stories/2013/04/essendonmay1one.jpg" width="470" height="349" alt="essendonmay1one">
“There were three bidders present – it was fairly competitive,” Febey told Property Observer.  
Febey added that the vendor’s reserve price was $215,000. The unit was also previously on the market at $215,000, and its sale price of $235,500 was “a good result”.  
Febey said the successful bidder was an owner-occupier.  
Based on Nelson Alexander’s estimated rent at $230 a week, the price reflected a rental yield of 5.08%, higher than the average rental yield for units in Essendon North which currently stands at 3.8%.  
According to the <a target="_blank" href="/news">latest report by RP Data</a>, the median sale price for units in Essendon North is $420,000, down by 10.4% on last year.  
Febey also told Property Observer the market in Essendon North is “quite healthy”, and “there are multiple buyers for the properties as long as the property’s price is right”.  
“Realistic vendors are selling better than vendors with high expectations,” he added.  
Other one-bedroom apartments for sale in Essendon North include <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/VIC/Essendon-North/?adid=2010382232">24/60 Keilor Road</a>, listed for $310,000 to $340,000.
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Essendon North apartment was Victoria's cheapest auction sale last weekend

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Carlton’s Italian heritage will get a boost with the arrival of iconic Sydney Italian chain Criniti’s in November.  
Taking over Brunetti’s former site at <a target="_blank" href="https://rca.colliers.com.au/property-retail-vic-carlton-500540283">198-204 Faraday Street</a>, Property Observer understands that Criniti’s has signed a ten-year lease with a ten-year option to renew.  
When contacted, Colliers International leasing agents Mike Crittenden and Ben Tremellen declined to comment about the details of the lease.  
Criniti’s told former Herald Sun food editor Wendy Hargreaves on <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/wendyonline/status/326132219036975105">Twitter</a> on 21 April that they are moving into the old Brunetti Melbourne site.
<img src="/images/stories/2013/04/crinitimay1one.jpg" width="470" height="281" alt="crinitimay1one">
At Criniti’s helm is managing director Frank Criniti, whose dream is “to establish a traditional Italian eatery affording people the opportunity to experience authentic Southern Italian food in a restaurant environment”.
They have opened four branches in Sydney, namely in Parramatta, Castle Hill, Darling Harbour, and Woolloomooloo, since their inception in 2003. A fifth restaurant, in Manly, is set to open later this year.  
The restaurant in Faraday Street will be their first Melbourne venture.  
Brunetti’s returned to its former location on 380 Lygon Street in March this year, where it first opened in 1979.  It moved around the corner into two Victorian buildings, 198-204 Faraday Street, in 1985. 
After the Angelé family acquired the café in 1991, they expanded the premises by leasing another building next door, at 194-196 Faraday Street to accommodate a restaurant as well.   Over the years, Brunetti’s has opened several branches around Melbourne, including one at City Square on Swanston Street in the CBD, and another in Camberwell. They have also expanded internationally to Singapore and Dubai.
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Sydney Italian restaurant chain Criniti's set to open in Carlton

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The marketing of property project with proximity to parklands has become a clear priority, and this trend is evident in Sydney's Putney Hill, with the development of houses and apartments by Frasers Property.
<img height="301" width="470" src="/images/stories/2013/04/putneyapril29one.jpg" alt="putneyapril29one">
Located on the cusp of Putney and Ryde, <a href="https://www.putneyhill.com.au/" target="_blank">Putney Hill</a>’s centerpiece will be the 24,000-square-metre Lardelli Park.
Additional features include Palmera Park, a 4,400 square metre bushland park as well as Figtree Park, a rainforest-style garden, a hilltop green and community rooftop gardens where residents can grow vegetables and herbs.
Award-winning landscape designer Environmental Partnership has signed on to the project.
Adam Hunter, Environmental Partnership director said, “It’s rare to find a new community with such a large percentage of the total area dedicated entirely to green spaces. Our brief was to create a landscape as close to Sydney’s natural bush setting as we could.”
Other amenities such as a childcare centre, community hall, professional medical suites, tennis and basketball courts and a playground have also been planned.
All houses in Putney Hill have been sold, while Palmera Apartments are available off-the-plan from $585,000 for a two-bedroom unit, for completion in 2014.
An established inner city properties’ proximity to parklands is also a priority as highlighted by a recent report by buyer’s advocate Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices, Property Observer reported <a target="_blank" href="https://www.propertyobserver.com.au/residential/properties-with-direct-parkland-views-fetch-higher-house-prices-secret-agent/2013040860186">earlier this month</a>.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
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Sydney's Putney Hill the latest development in parklands proximity trend

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A three-bedroom Werrington brick house was last weekend’s cheapest auction sale in New South Wales, selling for $300,000 according to Australian Property Monitors.
Located at 20 Dunkley Place, the house sits on a 562 square metre block of land and features a large backyard.
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/20-dunkley-place-werrington/Property-Details-sold-residential-5234711">The property </a>sold for $10,000 over the reserve price, which was set at $290,000. It last sold for $19,750 in 1991 according to RP Data records.
Its listing agent Paul Abassi of Laing+Simmons St Marys/Ropes Crossing told Property Observer there were seven registered bidders present at the auction, most of whom were potential investors.
“The successful bidder was an investor,” he said.
Based on Laing+Simmons’ estimated $360 rental per week, the price reflected a likely rental yield of 6.24%, slightly higher than the average rental yield in Werrington which currently stands at 5.5% according to RP Data.
Abassi added that the market in Werrington is “pretty strong”. While the area is populated by “older people”, he told Property Observer that new homes are coming up, and younger families are “buying and renovating”.
According to the latest report by RP Data, the <a target="_blank" href="/news">median sale price for houses in Werrington</a> is $335,000, up 2.5%% on last year. The average discount required to sell a house is 4.2%, while private treaty sales average 67 days on market.
Other houses currently on sale on Werrington include: 70 Reid Street, listed for $379,000 by JLB Real Estate Werrington, and 205 Victoria Street, listed for $509,950 by LJ Hooker St Marys.
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Investors compete for $300,000 Werrington offering which sells at 6.24% yield

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Annadale, a new housing development in Mickleham, Victoria has embraced the parklands bandwagon.
<img src="/images/stories/2013/04/annadaleapril23one.jpg" width="470" height="289" alt="annadaleapril23one">
Located on the site of Jika farm known for its Clydesdale horse breeding and bed-and-breakfast operation at 495 Donnybrook Road, the Annadale project (pictured above and below) will consist of 1,100 new homes built among a lush woodland environment, with the Mount Ridley Woodlands incorporated into the development.
Two parks have been planned.
The <a target="_blank" href="https://annadale.com.au/">Annadale</a> master plan has been designed to embrace the landscape with walking and cycle paths part of the development’s design, along with nature trails that lead into the Woodlands.
<img alt="annadaleapril23two" height="316" width="470" src="/images/stories/2013/04/annadaleapril23two.jpg">
In addition to its proximity to parklands, Annadale is also close to existing schools and community facilities. Non-government schools and other sporting facilities are also part of the master plan.
Evolve Development is the developer for Annadale with land prices starting from $99,000.
Mickleham is 32 kilometres north of Melbourne’s CBD. Property Observer reported <a target="_blank" href="https://www.propertyobserver.com.au/land/where-to-find-blocks-of-land-around-melbourne-for-under-%24200000/2012082256169">last year</a> that Mickleham is one of eight suburbs in Melbourne where land can be purchased for under $200,000.
Inner city residential development projects offering parkland views have also become a catching trend enveloping Melbourne, as noted in a report by buyer’s advocate Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices, Property Observer <a href="https://www.propertyobserver.com.au/residential/properties-with-direct-parkland-views-fetch-higher-house-prices-secret-agent/2013040860186" target="_blank">reported</a> earlier this month.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
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Developments with parklands evolving across Melbourne

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Eight Colliers International agents have raised $17,400 for Oxfam to help fight global poverty by braving the elements and going without sleep for 28 hours.  
The agents, Jeremy Gruzewski, Ben Baines, Hamish Burgess, Andrew Ryan, Rob Joyes, Ted Dwyer, Leigh Melbourne and Tony Landrigan, formed two teams to participate in the <a target="_blank" href="https://trailwalker.oxfam.org.au/">Oxfam Trailwalker Challenge</a> last weekend.
<img src="/images/stories/2013/04/oxfamapril24one.jpg" width="470" height="352" alt="oxfamapril24one">
Oxfam Trailwalker began in 1981 as a military training exercise for the elite Queen's Gurkha Signals Regiment in Hong Kong. It has since grown into one of the world's leading team endurance challenges, with 15 events in 11 countries.
The event launched in Australia in 1999, with Melbourne joining in 2003 and steadily growing each year since.
According to Oxfam, the 2013 Melbourne event comprised 3,024 walkers and, to date, has raised almost $2.3 million to aid in fighting poverty around the world.  
This year’s Melbourne challenge saw 750 teams walk 100km from Wheelers Hill through the Dandenong Ranges National Park to Wesburn from April 19-21.  
The Colliers International participants walked through the night, with no sleep, through seven checkpoints to complete the trail.  
Mr Gruzewski said each team had set a fundraising target of $5,000, which had been easily exceeded.  
“We’ve been blown away by people’s generosity – we’ve well exceeded our original fundraising goal and it’s a huge thrill to know that all the pain, exhaustion and blisters were worth it,” Mr Gruzewski said.  
“Oxfam do great work across the world to fight poverty, and we’re so glad the physical challenge we embarked upon will contribute, even in small way, to this very worthy cause.”  
Since November, the eight agents have endured blisters, chafing, sore legs, and shed lots of sweat in order to adequately prepare for the challenge.  
“It was a grueling challenge, which tested us not only physically but mentally and emotionally as well. We were pushed to our limits, but every step was worth it to know that we have been able to help Oxfam in their ongoing fight against poverty,” he said.
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Colliers staff join Oxfam Trailwalker effort

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Sydney’s Westmead Rehabilitation Hospital has been sold for $30 million, in a deal involving St Andrews Healthcare, Pulse Health, and Generation REIT.  
Located at 7 Coleman Street, the 61-bed private rehabilitation hospital is located in western Sydney’s Merrylands, three kilometres south of Parramatta and within close proximity of the Westmead Public Hospital and Westmead Private Hospital.  
This is the third private hospital that Colliers International Healthcare &amp; Retirement Living has sold in twelve months.    
Shane Nicholson of Colliers International, who represented the vendor St Andrew’s Healthcare Pty Ltd in the transaction, said the sale was significant because private hospitals are such tightly held assets.  
“They rarely come onto the market, and when they do, they are often sold in off-market transactions,” he said.  
“There is high demand amongst buyers for these types of assets because Australia’s healthcare sector is such a solid and desirable sector for investors to be in. Asian REITs have also demonstrated an appetite for these assets.  
Mr Nicholson said that while private hospitals were generally sought after, the Westmead Rehabilitation Hospital was considered to be a particularly good asset because it is “one of New South Wales’ finest specialist rehabilitation hospitals”.  
Mr Nicholson said part of the sale had involved unwinding the existing leasing arrangements, which was negotiated over the past couple of months.  
“A new lease arrangement between publicly listed companies Pulse Health and Generation REIT has now been signed, resulting in the sale of the freehold interest of the property for $29.86 million, which represented a yield of 8.75 per cent to our client, St Andrew’s Healthcare Pty Ltd,” he said.  
Mr Nicholson said given the demand amongst buyers for private hospitals in Australia, the sale was a big win for both Generation REIT and Pulse Health.  
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Sydney’s Westmead Rehabilitation Hospital sells for $30 million reflecting 8.75% yield

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.

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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.

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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>

Diane Leow

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