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Prospective first home buyers may want to consider using credit, and positive exposure to it, to give them a leg up, according to Smartline Personal Mortgage Advisers.
While they warn that if you cannot manage the responsibility then it’s best to avoid credit, disciplined new buyers may see themselves benefiting from the consideration.
In fact, Smartline executive director, Joe Sirianni, said that responsible management of debt is a positive in this age of bank credit scoring, but it should be handled carefully.
“Debt isn’t unlike fire. Managed correctly and carefully, it can be incredibly useful, but in the wrong hands there’s a good chance you could get burnt,” said Sirianni.
He said that while years ago it was suggested that you had a personal or car loan or credit card that you would pay off, as a form of ‘proof’ that you can handle money, this is no longer the case when it’s far less likely you know your local branch manager.
In the late-1980s, when banks moved to centralised decision making, the emphasis shifted to whether or not you had defaults. Sirianni notes that with more automated credit scoring on computers in recent years, a lack of a previous credit facility can count against you.
You want to be building a good track record.
“Computer programs are essentially doing what the humans used to do – making a value judgment on your past performance and assessing your character,” he said, explaining that leaving a blank field in relation to previous credit conduct could be a negative.
“However, having never borrowed and never made a mistake is still always better than having borrowed and made a mistake,” he said.
“But it’s not as good as having borrowed and having repaid it.”
He said that if you’re planning to take a few thousand dollars on a credit card or car loan, and are able to repay, then this would be a positive, even while excess unnecessary debt should be avoided.
“It might even be as little as a credit card with a $500 limit that you’ve kept in good order – that would be all you would need to do well on the credit score,” he said.
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How to: Use credit to your benefit as a first time buyer

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Two Perth real estate agencies have seen Consumer Protection given supervision orders by the State Administrative Tribunal (SAT) due to their misuse of trust accounts. 
Supervision orders require the company to carry on the duties for the agencies, before winding them up.
The two agencies were also said to be unable to operate within the Real Estate and Business Agents Act.
Kurt James Wallace, who traded as Scope Investment Services, was restrained from operating under an SAT approved application on 18 June 2014. A supervisor was ordered to be appointed to administer the financial affairs for Scope Investment Services.
Rent money should have been deposited into a trust account, but was instead put into the general agency account. This was not corrected and had been found in a Consumer Protection investigation. Wallace also failed to renew his triennial certificate in April 2014.
The second real estate agency that Consumer Protection took action against was Spirit Realty Pty Ltd that had been trading as Professionals Perth. The application was approved on 8 May 2014.
Numerous breaches of the Real Estate and Business Agents Act were found during an examination of the trust accounts. After the investigation began, they went into voluntary liquidation – said to be a significant reason behind the order that they could no longer conduct their business in accordance with the Act.
Commissioner for Consumer Protection, Anne Driscoll, conceded the actions are extreme, but said they are justified when client’s money has been misused.
“Bond and rental payments are not the property of the agent, that’s why they are held in trust on behalf of the agency’s clients. Failing to properly administer these funds is a serious offence with serious consequences under the law,” Driscoll said.
“There are strict rules governing the handling of client’s money and all licensed real estate agents need to be well aware of their legal obligations and adhere strictly to the law.
“Anyone who has any evidence of the misuse of trust money by agents is urged to contact us immediately so an investigation can be carried out and appropriate action can be taken.”
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Extreme action against trust fund misuse justified: Consumer Protection

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MAERSK LINE opened a new container depot at Nexus Industrial State in Altona yesterday, taking the spot of anchor tenant at the 40 hectare site.
The Industrial Intermodal Termnius, owned by Salta Properties, sees MAERSK LINE moving in to more than five hectares of the site at its official opening by Victorian Minister for Ports and Major Projects, David Hodgett.
Salta Properties’ executive chairman Sam Tarascio senior said that it is setting a new benchmark for container parks, and that they would work with the company to develop innovative solutions to their business operations.
“The wider community will also benefit from MAERSK LINE shifting to Nexus Industrial in Altona from its previous site at Francis Street in Yarraville where traffic congestion has been an issue,” said Tarascio. 
The Federal and State Government recently contributed to the establishment of Port Rail Shuttle Services, which should improve containerised freight transport system across Melbourne.
MAERSK LINE, Australia and Papua New Guinea managing director Nicolai Noes said that this is a platform for productivity gains for Melbourne-based importers and exporters.
“It presents a future proof platform for a continued optimisation of metropolitan rail solutions, a safe and inspiring work environment for the team on the ground and it is a location chosen with due consideration ensuring no disruption to the local community,” said Noes.
Another Nexus Intermodal Terminal is being developed by Salta Properties in Dandenong South – a 180 hectare site. This is set to open soon, with Bunnings as the anchor tenant.
The Altona Container Depot includes a 20,000 litre container wash bay facility, a first-flush diversion water treatment system, a 2,500 square metre container repair workshop and a 1,500 square metre container survey area. It also has a 43,000 square metre sealed yard.
Configuring the layout of the depot to ensure it optimises the available space and cater for future volume growth was the project for Anthony Randell, operations and customer service manager for MAERSK LINE – Australia.
“We believe that we now have the most sophisticated and technologically advanced container depot set up in Australia,” said Randell.
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MAERSK LINE becomes anchor tenant at 40 hectare Altona industrial site

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Sydney’s World Square Shopping Centre has outstripped the Queen Victoria Building, according to the 2014 Shopping Centre News “CBD Guns” survey in a result that is sure to get Sydney retailers talking.
The Brookfield and Arcadia owned World Shopping Centre ranked number one in the survey of highest sales in Moving Annual Turnover – bringing in $17,265 per square metre from a moving annual turnover of $237.94 million. World Square has 16,347 square metres of gross lettable area over three levels.
Ben Davis, precinct manager for World Square, said that they are delighted with the result and achievement in a short time frame. They opened in 2005.
"To be placed in the top five in all ranked categories is a great accomplishment and a result that lays the foundations for an exciting period of change and growth ahead," said Davis.
It has indeed been a busy year, with new brands signing up to World Square, including Guzman Y Gomez and Oliver Brown, and renewals of Hugo Boss, HypeDC and Din Tai Fung restaurant.
"We offer a unique retail proposition in Sydney’s CBD where brands have twice the patronage of Sydney International Airport and have access to a central open space, to engage and motivate customers,” he said.
In total, the centre houses 92 speciality stores, including G Star Raw, Marcs, Cue, Calvin Klein Jeans, Priceline and Coles.
CBRE director of retail services, Leif Olson, said that World Square also includes 90,000 square metres of office space, a 400-room adjoining hotel and a Meriton apartment building.
“World Square is in a unique position to capitalise on the large residential population and workforce surrounding, as well as incorporated, in this asset – all of which has helped leverage this centre to be recognised as one of the country’s best,” said Olson.
Food and beverage turnover experienced 21% growth over the past 12 months, with general retail sales up 11.3% over the period.
“The residential population in this area of the city has flourished in recent years, and this is expected to continue, with increased focus on residential conversion opportunities,” Olson said.
Picture courtesy of Adam J.W.C/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/2.5" target="_blank">Creative Commons</a>
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World Square tops QVB to become Sydney's best performing mall

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Spanish fashion retailer Zara has announced that they will open their first Perth store, which will be their 10th Australian outlet.
The new store will be in AMP Capital’s Garden City Shopping Centre and comes as UK’s Topshop is reportedly looking to open a store in the West Australian capital.
Garden City is in Booragoon, and the Property Council of Australia notes that it has ranked at the top of the list for speciality sales per square metre in the state for over a decade.
The centre is to undergo a $750 million redevelopment and expansion, with the state government recently removing caps on shopping centre expansions.
The mall will be 120,000 square metres, and would become the largest shopping centre development approved across Western Australia. If approval goes to plan, construction is slated for a 2016 commencement date.
However, the Zara store could be in as early as next month.
Zara’s first stores included Sydney’s Pitt Street Mall and Melbourne’s Bourke Street Mall.
However, this isn’t the first time the Spanish brand has eyed Western Australia’s opportunities, with <a href="/news/zara-heading-to-perth-with-topshop-likely-to-follow">plans back in 2013 to open a $5 million Murray Street Mall store</a>. Council documents saw plans for a new two-storey building and one-storey addition to an existing retail building at the mall to house Zara.
These plans are still underway.
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Zara’s 10th Australian store to open in Perth, as WA plans take off

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A 2.37 hectare development site in Western Australia’s Onslow, the LNG hub of the state, is up for sale, according to Raine &amp; Horne Commercial WA.
The Lot 381 Third Street site is at the highest point in the town, with an expected sales result in the seven or eight figure bracket.
Raine &amp; Horne Commercial WA director Anthony Vulinovich said that one of the potential uses for the site is employee accommodation, that he says is particularly suitable due to its proximity to the centre of Onslow and the views over Beadon Bay. This would be allowed under the Shire of Ashburton’s tourism zoning for the site that allows for workforce accommodation.
Discretionary approval is in place for grouped and multiple dwellings, workforce accommodation and commercial uses.
He also noted that there are other land blocks available.
“There is more strategically placed land for industrial subdivision near the airport that will allow for town-based workforce growth among the LNG and associated industry providers,” said Vulinovich.
“Close to the town centre, there is a lack of land zoned for industrial accommodation. When this becomes available, we believe worker accommodation will also be in demand, and our site can cater for a single or multi-stage accommodation development.
“Australia-wide and in particular for WA, this property represents a very rare investment opportunity, being a 23,700 sqm site incorporating elevation, size, access, and viability to develop product with a market that could simply be massive now, while the future scope is unlimited.”
The vendor is a private syndicate.
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Onslow development site looks to attract mining companies’ interest

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Australia’s commercial property market is expected to see transaction activity hit its second highest annual total in a decade, according to CBRE’s sales data for quarter two. During this period, $6.1 billion of sales were recorded.
The sales data recorded includes all office, retail and industrial sales over $5 million, and saw the first and second quarters of the year record approximately $10.5 billion of property transactions.
Foreign investment into the commercial market has remained bullish - $2.6 billion of the sales transacting in the three months to financial year end were foreign purchases. This was 27% of sales over the quarters.
This is 10% below last year’s record, but still tracking high, explained CBRE national director, capital markets, Josh Cullen.
“Whilst activity is slightly down, this follows a record year and demand for core assets in the Australian market remains extremely strong, as we are still very attractive from a global perspective,” said Cullen.
This has foreign investors continuing to chase core assets, said CBRE senior director, international investments, Michael Andrews.
“With low interest rates and low returns in offshore markets, Australia continues to be a sought after destination for offshore investors,” Andrews said.
The industrial market has been a particular standout, with close to $900 million in sales transacted, up from the same period in 3013 when $400 million of transactions were recorded.
ROUNDUP
SYDNEY: 10% HIGHER IN Q2
MELBOURNE: 22% HIGHER IN Q2
BRISBANE: 33% LOWER IN Q2
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Commercial property transactions to reach second highest in decade: CBRE

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A new shopping centre in Golden Grove is set to be completed in March 2015, providing an early opportunity for retailers.
Called The Stables Shopping Centre, the anchor tenant is a 3,884 square metre Woolworths supermarket, and there will be 15 speciality shops, including two kiosks, and 260 car parking spaces.
Located on the corner site at Golden Grove and Crouch Roads, it will cover 1,600 square metres of speciality shops. A Chemmart pharmacy has committed to the centre, and the other tenants are expected to be fresh food stores, take away outlets and retail services.
Knight Frank retail leasing executive Russell Iles is currently pre-leasing the centre, noting that it will provide employment opportunities for local residents and is near growing new residential estates.
“There has been strong interest with the Woolworths anchor tenancy secured, as well as national retailer Chemmart,” said Iles.
He noted that the stores and kiosks range from 40 square metres to 135 square metres.
“Since the commencement of construction, there has been strong interest from both local and national franchise chains for establishing a presence in this growing area that are looking for franchisees to take on the new stores. The centre will suit tenants ranging from fresh food and takeaway outlets through to retail services,” he said.
The shopping centre is some time in the making, with Adelaide Now reporting last year that the plans had been approved – some eight years after they were first announced. They note that childcare and a medical centre are also expected for the site.
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Golden Grove, Adelaide’s new retail precinct due for 2015 completion

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Café 53 to 55 Glebe Point Road in Glebe is up for sale, offering investors the opportunity to purchase a slice of Glebe’s coffee-sipping inner-city crowd.
Tenant The Wedge Espresso, is on a new 7 + 5 year lease, commencing from the 1st June 2014, and the building is just three years old.
The net income for the building is $52,000, with 3.5% annual increases.
It’s opposite Glebe markets, a busy location for locals, and despite its location being on Glebe Point Road it is shaped in such a way that it’s of a long-thin rectangular shape, with much of it opened up by large windows with benches inside, overlooking the footpath of Cowper Street. The front door is also on Cowper Street.
Marketed through <a href="https://www.commercialrealestate.com.au/property/2011211729/for-sale/nsw/glebe/retail%20%20" target="_blank">Deans Property, the site is asking for $849,000</a>, with the building covering 59 square metres.
It has a gorgeous fit-out at present, with corrugated-iron style back walls and feature art, menus on brown clipboards and small tables with plants in tin buckets and sugar in jam jars.
The café was established in October 2011.
When Property Observer visited last year, it was said to be some of the best coffee in Glebe, and was busy enough to suggest that other people believed the same. The only rivals it may have are Badde Manors and Clipper Café.
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Buy into Glebe’s latte-sippers: The Wedge Espresso premises hits market

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Propertylink, a Sydney-based property investment and asset management company, has bought two Victoria sites for $23.54 million.
The properties, 82 Taryn Drive, Epping, and 18-24 Ricketts Road, Mount Waverley (pictured above), were bought under their Propertylink Australian Industrial Partnership. This includes $230 million in nationwide assets.
Managing director of Propertylink, Steve Day, said that they have a track record of industrial ownership and development.
“The Epping asset features 100% occupancy from a single tenant, Stanley Black &amp; Decker, a Fortune 500 company and one of the world’s largest and most renowned provider of industrial tools, household hardware and security products,” Day said.
He notes that the asset was chosen partly due to its modern and functional style and 8.75% yield. The gross building area covers 10,500 square metres, while that of the Mount Waverley purchase covers 8,806 square metres.
“We expect yields for these types of high-quality assets to continue to tighten in the short to medium term,” he said.
Head of property at Propertylink, Peter McDonald, said that the Mount Waverley purchase is 50% office, 50% warehouse with 82% occupancy at present.
“This is located in the tightly-held prime south-east precinct of Melbourne and we see a real opportunity to bolster the property yield to around 11.5% and add value through strata sub-division,” McDonald said.
“We continue to see significant amounts of capital chasing large prime, long lease assets. However, our strategy is to look for opportunities to add value through repositioning of assets to achieve higher returns.”
They <a href="/expert-insights/investing/propertylink-adds-10-industrial-properties-to-portfolio">recently purchased 10 industrial properties from Abacus Property Group</a>, totalling $106 million.
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Propertylink adds $23.54 million of Victorian property to portfolio

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jennifer Duke

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