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Developer Time &amp; Place and Woolworths are set to lodge plans for a mixed-use project in Melbourne's Glen Iris.

Time &amp; Place and Woolworths secured 173 Burke Road earlier this year for $29.25 million, and this week will submit plans to the City of Stonnington for a mixed-use community on the 4,306 sqm site which was bought as a two storey office building.

The plans by Carr Architecture will see 90 apartments located above a full-line, state-of-the-art Woolworths and adjoining BWS at street level. There will be one, two and three bedroom terrace-style apartments.

Each apartment will feature its own external entry, a hero of the project's design, which allows for dual aspect and improved daylight/crossflow ventilation, while also providing an energy efficient end-product.

The project will be targeting 4-Star Green Star Rating from the Green Building Council of Australia.

Time &amp; Place principal Edward Pearse says that the design that has been put forward does not look like a traditional apartment block.

<img alt="" height="1877" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/time_place_woolworths_2.jpg" width="2000">

"It takes cues from suburban living and Australian Modernism to improve this under-utilised portion of the Burke Road."

"The design considers careful integration of the residential and retail elements to ensure a quality living and shopping experience for all end-users.

“We’ve looked to bring the best of traditional terraced homes – from their sustainable design and down to the entry experience – to a higher density project.”

The site has been identified for regeneration as part of the Council’s strategic plan for Burke Road.

Subject to planning approval, the development would create around 250 jobs as well as 120 ongoing retail jobs once complete.

Woolworths State Development Manager Don Foulds said the development application delivers a clear vision to revitalise the site and deliver a thriving, contemporary and convenient mixed-use development.

“Our proposed designs aim to reflect the unique local character of Glen Iris while delivering on Stonnington Council’s vision for high quality housing and convenient shopping for the area.”

The full-line Woolworths will face Burke Road, with the Hope Street frontage to feature an open-air stairway leading to the residences, preserving amenity for neighbours.

<h2>Developments Nearby</h2>

<a href="/buildings/hurstmon-3-hurstmon-street-malvern-east">Hurstmon, Malvern East</a>

Address: Hurstmon - 3 Hurstmon Street, Malvern East

Just over one kilometre away down Wattletree Road in Malvern East is Hurmston, a low-rise apartment development near Malvern Road.

Developed by Landream and designed by Telha Clarke, the apartment building of 39 features one, two and three bedroom apartments starting from $449,000.

<img alt="" height="1123" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hurstmon.jpg" width="2000">

The front of the property features carefully curated landscaping that mirrors the surrounding area.

Ground floor residences feature landscaped courtyards that can extend a living space into an expansive entertaining area.

 

 

 
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Developer Time & Place and supermarket giant Woolworths are set to lodge plans for a mixed-use project in Melbourne's Glen Iris.

Joel Robinson

Developer Time & Place and Woolworths to lodge plans for mixed-use Glen Iris project 

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The Noosa building designer Paul Clout and wife Lizzie are on to their next project.

Having secured the sale of their last luxury build, a luxury beachfront in the gated Beaches estate on the exclusive David Low Way on Sunshine Beach for around $10 million, the couple have paid $1.6 million for a 595 sqm site near the Noosa River.

The block currently homes a 1950s holiday rental which was fetching $500 a night.

But the Clout's have lodged plans for a boutique apartment project dubbed 7 William, which will be made up of two three bedroom apartments over three levels, and a one bedroom studio unit on the ground floor.

There will be parking for five cars, and two private swimming pools, one at the front and one at the rear of the property, both with a lounge deck.

7’s construction phase should begin by mid-2021, with a view to being complete within 12 to 14 months.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/clout_3.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="324" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/clout_3.jpg?itok=WChb8pVL" width="580"></a>

<figcaption>One of the private pool decks</figcaption></figure>"Houses at 7 is something a little different for Noosa", Paul Clout told Urban.

"This is a project that the team at Paul Clout Design has been working on for sometime, luxury but casual lifestyle living was the main driver of the design concept.

"Every detail fixture or fitting has been timelessly considered to give its occupants a feeling of comfortable opulence."

Paperwork lodged with the Noosa council say the design allows for natural light and ventilation to make the most of the prevailing breezes and 2.7m floor to ceiling heights.

"The roof design allows for solar to be provided to ensure ongoing energy requirements are predominantly produced on the site," the paperwork read.

The materials include a mix of lightweight and textured external materials with variation provided through articulation, varied roof forms and large balconies.
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The Clout's have lodged plans for a luxury boutique apartment project dubbed 7 William


Building designer Paul Clout's next Noosa project

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At the RBA's December 2020 meeting, the members noted that conditions in the domestic housing market were improving, but were uneven.

"Regional housing prices had increased by more than those in capital cities since the onset of the pandemic", RBA Governor Philip Lowe's meeting minutes read.

They highlighted the variation in changes in housing prices across the capitals, with Sydney and Melbourne markets more subdued than elsewhere in the country.

Lowe said that, within Sydney and Melbourne in particular, conditions in the detached housing market were firmer than for higher-density markets.

"Overall, national housing prices had increased only a little since the outbreak of the pandemic," Lowe stated.

They focused on the slowdown in population growth impacting the housing market nationally as a result of the closure of international borders.

"This had been more consequential in Australia than in many other economies," Lowe advised, saying that it has impacted the rental market in particular, with rents falling and rental vacancy rates in inner-city Sydney and Melbourne around their highest levels in many years."

Lowe touched on the strong growth in New Zealand housing markets, with population growth, expat buying interest and an earlier easing in lending standards.

"By comparison, these factors had been less relevant in Australia and, partly as a result, the increase in housing prices in Australia this year had been considerably smaller than in a number of other advanced economies."
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Conditions in the domestic housing market improving, but uneven: RBA's December 2020 meeting minutes

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Jenny Rose-Innes, who describes herself as "a serial renovator and garden maker" has sold her charming Bowral cottage, finding a $4.25 million buyer in just two weeks.

She's been building houses and gardens for over 40 years.

Her latest creation had a home on its 1560sqm marketed as Connecticut style by Di Jones agent Michael Cawthorn.

<img alt="" height="1372" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/innes_bowral_2.jpg" width="2000">

Rose-Innes hails from South Africa, coming to Australia with her husband and family a little more than a decade ago. 

Rose-Innes, who wrote Australian Designers at Home, and the more recent bestseller, British Designers at Home, had paid $1,275,000 in 2015, having found the neg­lected cottage on an evening walk with dogs, Miss Penny the schitzu and Fergus the schnauzer.

“Bringing this cottage back to life, very simply, was joyful,” Rose-Innes blogged.
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“Bringing this cottage back to life, very simply, was joyful,” Rose-Innes blogged.

Jenny Rose-Innes sells Bowral cottage for $4.25 million

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The former Channel 9 boss David Gyngell and his television presenter wife Leila McKinnon have bought back in the Sydney market.

Their $4.5 million Bellevue Hill purchase came a year after they pocketed $8.4 million from the delayed settlement sale of their Dover Heights home.

The couple spend most of their time these days in the Byron Bay hinterland, ­enjoying family life and attending to a Northern Rivers tourism property empire, focused around the Hotel Brunswick.

The Sydney bolthole was bought by a company directed by the pair, the same company which owns a Bondi investment apartment.

[smartcode_project:default project_id=7758]

Gyngell and McKinnon are expected to use the luxury apartment in the 1900s residential block Villa Rossmore as their Sydney base.

Marketed as a stunning residence with house-like propositions, the apartment spans 200 sqm with its own manicured private garden.

<img alt="" height="1336" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gyngell_bellevue_hill_2.jpg" width="2000">

The sale is the biggest in Villa Rossmore since mid-2017 when Alceon Group founding partner Morris Symonds spent $5.5 million on his four bedroom duplex-like apartment.

Gyngell, the son of the late legendary Channel 9 boss Bruce Gyngell, had bought the clifftop oceanfront Wentworth Street, Dover Heights home for $1.15  million in 1998 when it was a 1940s cottage.

His sister Briony Fitzgerald and mother Anne helped design the mansion after its $1.5 million 2014 rebuild, which was then ­featured in Belle magazine.

“Every room, including the bathrooms, captures views of the ocean, coast or harbour in the distance. On a clear day you can see from Palm Beach to Wollongong,” the ­magazine reported.

Their off-market buyers in the deal, done a year before its settlement, were Adam and Alex Somerville from North Bondi, who are in the business of retirement villages.

The media couple retain their renovated Bondi Beach investment property.
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Gyngell and his TV presenter wife Leila McKinnon have bought back in to the Sydney market.



Former Nine boss David Gyngell buys Bellevue Hill penthouse

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Property investors and owner-occupiers seeking growth may well cast their eye over a new university campus based within the Westmead Health and Innovation District in Parramatta.

The framework agreement between the NSW Government and the University of Sydney will see the campus built adjacent to the Westmead hospitals and is likely to draw 25,000 students and 2,500 staff by 2055. 
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said having a university campus at the core of the Westmead Health and Innovation District will drive innovation and catalyse future growth.

“Having the University at the core of the Westmead Health and Innovation District will help transform the district into a powerhouse of invention, creativity, and commercialisation, and home to world-leading enterprises, start-ups, researchers and students,” Mr Ayres said.

NSW Government’s vision for the District is expected to create more than 20,000 new jobs and contribute an additional $2.8 billion of economic output per year to the NSW economy.

<h2>Developments Nearby</h2>

<h2>Georgette Schofields</h2>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kew_georgetta.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="340" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/kew_georgetta.jpg?itok=hpMOY12m" width="580"></a>

Within a commutable distance to the new precinct is the low-rise residential development Kew Schofields, in one of Sydney's newest and fastest growing suburbs.

A short 30-minute drive from the Westmead Health and Innovation District, Kew Schofields Stage 2, Georgette, has prices starting at $428,000 with its completion set for late 2021.

There are 137 residences across the five level building.

Buyers can save up to $60,000 buying in to the development with current NSW Government stimulus packages for new build property.

The whole of the masterplan Kew Schofields, slated to be completed by 2022, will have 2,700 sqm of retail space, parks and recreation facilities.

<h2>180 George Street Parramatta</h2>

Harry Triguboff's Meriton have a high-rise under construction in the heart of Parramatta, heralded as Parramatta's tallest residential tower.

Prices start from $502,000 for apartments in 180 George, designed by architecture firm Woods Bagot. It will home 761 apartments and is expected to be finished by December 2021.

<img alt="" height="1015" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/180_george_2.jpg" width="2000">
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The new university campus in Parramatta will likely attract investors and owner-occupiers to its nearby suburbs

Property investors and owner occupiers interested in areas around new University campus in Parramatta

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The real estate investor and manager Cromwell Property Group has secured approval for a $350 million mixed-use expansion of its existing Collins Street property in Melbourne’s Docklands Precinct.

The plans are to add a 55-storey mixed-use building to the site at 700 Collins Street which currently homes a 17-level, A-grade office tower which Cromwell have owned since 2004.

The new mixed-use building will comprise 265 apartments, a 4.5 star, 182 room hotel and further 13,000 sqm of office space across 13 levels, as well as a four-storey podium car park with 199 spaces.

The apartments will be a mix of studio, one, two and three bedroom apartments with residents having access to concierge services, a swimming pool and a cafe.

Bobby Binning, Cromwell’s Head of Property, says The Docklands area has come a long way since they purchased 700 Collins Street in 2004.

<blockquote>
"As one of the first commercial towers in the area, we saw the potential early and are now looking forward to investing further in the precinct.”
</blockquote>

<blockquote>
“Overall, Cromwell has line-of-sight to a c$1.1 billion pipeline of new value add development opportunities, and this will be another good example of what we can do in this area.”

“We will consider potential operating partners in the new year,” Mr Binning concluded.
</blockquote>
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Cromwell secures $350 million expansion approval of mixed-use Collins St, Melbourne tower

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EXPERT OBSERVER

When the government’s <a href="https://treasury.gov.au/review/retirement-income-review/TOR">retirement incomes review</a> of which I was a part examined superannuation, the age pension and voluntary savings, home ownership had a surprisingly important role.

The home is the largest form of voluntary saving and is far more entwined with super and the pension than might be thought, with threads that travel from homeownership to access to the pension, from homeownership to the size of the pension, and from superannuation to homeownership.

<h2>Homeownership keeps pension costs low</h2>

At present, about 76% of retirees own the homes they live in, about 12% rent and a further 11% either live rent-free with family or are in residential care or another arrangement.

<figure class="align-right zoomable"><a href="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Retired Australians have been unusually likely to own the homes in which they live.</figcaption></figure>This is an unusually high rate of homeownership by international standards that not only benefits individuals but the public purse.

It lowers age pensioners’ living expenses and lowers the required size of the pension.

At 2.4% of gross domestic product, Australia has one of the lowest-cost age pension schemes in the OECD.

But there are indications that homeownership is on the decline.

People are entering the workforce, marrying, forming households and buying their first home later in life.

Between 1981 and 2016 the average age at which Australians purchased a home climbed from 24 to 33.

As a consequence, the average age at which mortgages were paid out climbed from 52 to 62.

Now, one in every ten retired Australians enters retirement with a mortgage.

<h2>Wealth tied up in homes escapes the assets test</h2>

As wealth tied up in housing is exempt from the age pension assets test, it is for many people a preferred form of retirement saving.

At present, around 15% of age pensioners live in homes valued at more than A$1 million, although these figures partly reflect Sydney and Melbourne property prices which have escalated over recent years.

These retirees are often “asset rich and income poor”, having chosen to store their wealth in an asset that doesn’t pay income.

They do well out of the pension. One fifth of age pension expenditure goes to the wealthiest two fifths of retirees.

<h2>Non-homeowners live poorly</h2>

Non-homeowners, on the other hand, are among those most likely to experience poverty in retirement.

Commonwealth Rent Assistance helps with the rent of those reliant on the pension and other payments and is much more targeted than the pension, with 90% going to the poorest fifth of retirees.

But the indexation of rent assistance payments to the consumer price index instead of rents for more than three decades has eroded their value to the point where they now cover less than half the rental costs of the people who get them.

Boosting rent assistance would help, but it is only part of the solution.

<hr>
Income poverty rates of retirees

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Retirement Incomes Review, <a class="source" href="https://cdn.theconversation.com/static_files/files/1371/Retirement_Incomes_Review_notes.pdf?1607569573">notes</a></figcaption></figure><hr>
Other parts of the solution include increasing the supply and affordability of housing, creating a market in longer-term rental contracts, and boosting access to public housing, outside the terms of the review.

<h2>Super supports home ownership</h2>

Super gets diverted into financing homeownership in three ways.

First, voluntary contributions can be <a href="https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/First-Home-Super-Saver-Scheme/">redrawn</a> by first homebuyers for the purpose of a home deposit, for a sum of up to $15,000 from any one year and up to up to a maximum of $30,000 plus earnings across all years.

<figure class="align-right zoomable"><a href="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Super encourages people to borrow.</figcaption></figure>For couples, this can provide up to $60,000 plus earnings to buy a house.

Second, retirees can make a <a href="https://www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-to-your-super/Downsizing-contributions-into-superannuation/">downsizer contribution</a> into their super fund of up to $300,000 per person from the proceeds of selling one home to buy another. Such contributions don’t count towards their super contributions caps.

The third way in which super is financing home ownership is the increasing tendency for people to use their super payouts on retirement to pay out their mortgages.

In addition there is what’s known as the “wealth effect”, a phenomenon seen in contributory pension systems around the world.

Research conducted for the review found that increasing compulsory super balances increase household wealth and provide a degree of <a href="https://cdn.theconversation.com/static_files/files/1372/What_is_the_relationship_between_voluntary_savings_and_changes_to_the_SG_Ummul_Ruthbah_and_Nga_Pham?1607572962">confidence</a> for households to increase debt to invest in property, knowing that superannuation savings can be accessed to extinguish debt in the future and that the residential home is not counted in the age pension assets test.

<hr>
Read more: <a href="https://theconversation.com/what-matters-is-the-home-review-finds-most-retirees-well-off-some-very-badly-off-150465">What matters is the home: review finds most retirees well off, some very badly off</a> 

<hr>
Over a four-year period, it was found that a $1 contribution to compulsory super increased net household wealth by $2.51, through an increase in super wealth of $1.51 plus an increase in housing wealth of $1.21, offset by a 51 cent decline in non-super, non-housing savings.

In each of these ways super makes a contribution to homeownership. The review did not conclude there was a case for allowing further withdrawals from super to enable it to more.

<h2>Homes can contribute to retirement incomes</h2>

For typical homeowner at retirement, home equity represents about two to three times as much of their wealth as does super.

It ought to make accessing the equity in the home through a schemes such as the government’s <a href="https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme">Pension Loans Scheme</a> attractive.

As an example, drawing down $5,000 each year against the equity in a $500,000 home would eat into only a quarter of its value by the time retiree reached 92.

Consumer protections around the pension loans scheme and other reverse mortgage products limit loan to value ratios, ensure that retirees have guaranteed occupancy and can’t run up negative equity in their homes.

<h2>It’s time to use them</h2>

These schemes are at last becoming more popular, perhaps in part to the growing proportion of lifetime income tied up in homes, a figure that has grown from about 6% in the mid 1990s to around 16% for homes bought today.

Homes are a critical part of the retirement system. They are not only a place to live, but are a substantial part of householder wealth and should be considered when planning retirement income. Especially for those older Australians who have not had the benefit of higher superannuation contributions over their working lives.

<a href="https://theconversation.com/profiles/deborah-ralston-107436">Deborah Ralston</a>, Professorial fellow, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/home-ownership-and-super-are-far-more-entwined-than-you-might-think-151693">original article</a>.
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The home is the largest form of voluntary saving and is far more entwined with super and the pension than might be thought

Home ownership and super are far more entwined than you might think

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Bloom Arncliffe, the residential precinct in Southern Sydney, has finished its construction.

The 318 apartments across seven buildings are ready for occupation, as part of the $136 development which also features 36 commercial spaces and a youth centre with basketball courts, a gym and support facilities.

Developer Wingate had Richard Crookes Construction handle the construction of the mixed-use development at 213 Princes Highway, only 11km south of Sydney.

<img alt="" height="1493" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bloom_2.jpg" width="2000">

NSW Building Commissioner David Chandler toured the project upon its completion.

EJE Architecture designed the seven residential towers, which home a mix of one, two and three bedroom apartments.

Each apartment features a kitchen with its own walk-in pantry, spacious island benches and the latest integrated appliances.

All apartment living areas are spacious, with modern floor-to-ceiling joinery, and plenty of room for entertaining.

Take a tour of a Bloom Arncliffe apartment.

<h2>PRICING</h2>

One bedroom, one bathroom, one park apartments start from $595,000

Two bedroom, two bathroom, one park apartments start from $710,000

Three bedroom, two bathroom, two park apartments start from $950,000

<h2>BLOOM ARNCLIFFE AT A GLANCE</h2>

Developer: Wingate

Architect: EJE Architecture

Builder: Richard Crookes Constructions

Location: 213 Princes Highway, Arncliffe NSW 2205
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Bloom Arncliffe, Sydney finishes construction

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Charter Hall has taken a 100 per cent interest in the Sydney CBD tower block currently leased to Telstra.

Their Charter Hall WALE Limited, a responsible entity of the Charter Hall Long WALE REIT, has paid $281.5 million for the 76-78 Pitt Street building, which will be leased back to Telstra on a 10-year, triple-net agreement at a yield of around 4.75 per cent.

Telstra will see a fixed annual rent increase of 2.5 per cent.

Avi Anger, fund manager of CLW, said the property has a high underlying land value and future optionality.

Charter Hall's REIT has also entered in to an agreement to take a 100 per cent interest in a new Bunnings property to be developed in Caboolture, in Queensland's Moreton Bay region, for $28.1 million.

The REIT have also announced they've completed the acquisition of a 49.9% interest in an Endeavour Group leased pub the Parap Tavern in Darwin, paying for $9.8 million.

“Bunnings Caboolture and the Parap Tavern are located in strong trading areas and identified growth corridors for Bunnings and Endeavour Group," Anger said.

"The acquisitions increase the proportion of triple net leases in the portfolio from 50% to 53% and increase the proportion of fixed rent reviews to 55%, further supporting the REITs secure and growing income.

"The Acquisitions also increase CLW’s exposure to high quality tenants in Telstra, Endeavour Group and Bunnings.”

The REIT will undertake a fully underwritten $250 million institutional placement to partially fund the acquisitions and associated transaction costs.

 

 
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Charter Hall acquire 100% stake in Sydney's Telstra building

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.

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>

Joel Robinson

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