<html><body>
<p dir="ltr">A Box Hill landbank between two planned apartment towers has sold for $8.25million, demonstrating the ongoing demand for development opportunities.</p>
<p>The sale of the 1,004sqm property at 13 Prospect Street reflects a strong land rate of $8,217 per sqm.</p>
<p>Savills Australia’s Nick Peden, Clinton Baxter and Jesse Radisich brokered the deal on behalf of a local private vendor, who first purchased the property several decades ago.</p>
<p>More than 65 interested parties reviewed the opportunity, with the eventual purchaser being a private Chinese developer, Peden said.</p>
<p>Box Hill was arguably “Melbourne’s most active and robust development location”, with unmatched interest from Chinese developers and the suburb’s Chinese community, the Savills team suggested.</p>
<p>Box Hill is anticipated to become Melbourne’s second high-rise CBD, they said.</p>
<p>The transaction marks Savills 12th major development site sale since the end of 2016 for more than $133million in the past 18 months, Peden said.</p>
<p dir="ltr"><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/14/13%20Prospect%20Street%20Box%20Hill.jpg" alt=""></span></p>
</body></html>

jchancellor-FAypfDUnLy

Chinese developer secures Box Hill development site for $8.25 million

<html><body>
<div>The days of the successful greedy vendor are almost done.</div>
<p>The five year surge in Sydney prices is now coming off, as the Reserve Bank wished.</p>
<p>The biggest gap I've seen between asking price and selling price was over 20 percent. They wanted $27 million and took $21 million in Sydney's pricey east.</p>
<p>Long after the ambitious public asking prices, the more sombre secret sales outcome becomes known.</p>
<p>Any neighbours up the street thinking of selling are then forced to come back in expectation. The new pricing mood becomes contagious.</p>
<p>There is nothing too distressing around pricing really for most sellers, although the emerging slowdown captures almost all, even thoughtful asking prices.</p>
<p>South Sydney Rabbitohs star George Burgess recently made a mild adjustment to the price hopes of his <a href="https://www.realestate.com.au/property-house-nsw-chifley-126771326" target="_blank">Chifley offering</a> (above and below).</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/chifley2.jpg" alt=""></p>
<p>Having initially sought $1.8 million, there's now guidance between $1,725,000 to $1,775,000, with Burgess and wife Joanne expecting a second child in August.</p>
<p>But first home buyers should pay extra careful attention to market conditions, not just the incentives on offer.</p>
<p>While the price declines may be minor, first home buyers ought be wary of over paying and potentially going straight into negative equity.</p>
<p>The weekend auction success rates that kicked off unexpectedly well with 70 percent selling, have weakened in the pre-Easter auction period with the clearance rate back in the 50s.</p>
<p>The market does seems set to continue to deteriorate further.</p>
<p>Most analysts tip the decline will be moderate, somewhere in the order of five to 10 percent over the next two or so years.</p>
<p>They don't see any trigger such as high unemployment that would escalate into more substantial price falls across all markets.</p>
<p>Certainly unexpected quick rate rises - rather than possibly a few extended over years - could be devastating for many households. </p>
<p>There are extreme calls such as the US forecaster Harry Dent who forecasts a halving in values.</p>
<p>But demand for property arising from population growth, arising both internally and from migration, is expected to provide a floor.</p>
<p>This article was first published in the Saturday Daily Telegraph.</p>
</body></html>

The Sydney property downturn starts with asking price mismatch

<html><body>
<p>An 1890s Elsternwick home, in 925 sqm of Rick Eckersley-designed gardens, has been sold.</p>
<p>Only recently updated with decor by interior designer Fiona Lynch, the <a href="https://www.realestate.com.au/property-house-vic-elsternwick-127653338" target="_blank">five bedroom Gladstone Street home</a> features soaring ornate ceilings</p>
<p>The 13 Gladstone Parade Elsternwick home sold under the hammer for $4.965 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/els2.jpg" alt=""></p>
<p>The residence drew offers from five bidders, selling for around $560,000 above reserve.</p>
<p>There's a refined home office, a lounge and formal dining room all with white marble fireplaces.</p>
<p>"The grand, historic bones of this magnificent Victorian home became our muse," Lynch noted.</p>
<p>The client was encouraging of her exploration of colour, so she took an evolutionary approach from room to room.</p>
<p>Soft, earthy clay in the lounge melds into rusty brown in the adjacent study; through to a dining room swathed in striking blue.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/els3.jpg" alt=""></p>
<p>Marshall White agent Sam Hobbs had a guide of $4 million to $4.4 million.</p>
<p>Last year the south-east Melbourne suburb saw three sales over the $4 million mark.</p>
<p>The classic Victorian home, Payneswick as its was known from the late 19th century, last traded at $3 million in 2014.</p>
<p>The earlier owners had Suzie Forge restored and extended it after it traded at $353,000 in the mid-1980s.</p>
<p>This article was first published in the Weekend Australian.</p>
</body></html>

Elsternwick trophy fetches half a million over reserve

<html><body>
<p>Cogoon Station, the south west Queensland grazing property, has been listed for sale.</p>
<p>It is the district from where the Prussian explorer and naturalist Ludwig Leichhardt set off from on his fateful expedition, never to be seen again.</p>
<p>Leichhardt's disappearance remains a mystery after he went missing in 1848 with his expedition crew of four Europeans, two Aboriginal guides, seven horses, 20 mules and 50 bullocks planning to cross Australia.</p>
<p>Cogoon, located in the Maranoa region around 60 kilometres south of Roma on the Darling Downs, then belonged to politician Allan Macpherson.</p>
<p>The near <a href="https://www.realestate.com.au/property-livestock-qld-roma-7952110%20" target="_blank">6000 hectare grazing property</a> is subdivided into 11 main grazing paddocks.</p>
<p>There's an as new three bedroom Glendale home on the estate, as well as an older homestead, 12 dams, cattle yards, machinery and hay sheds.</p>
<p>Ruralco Property GDL agent John Sims has set an April 20 auction. </p>
<p>Leichhardt's disappearance has been investigated by many, with the latest evidence suggesting the party may have gone missing somewhere in the Great Sandy Desert.</p>
<p>This article was first published in The Weekend Australian property section. </p>
<p> </p>
<p> </p>
<p class="r"> </p>
<p class="r"> </p>
<p> </p>
</body></html>

Historic Cogoon Station listed on Darling Downs

<html><body>
<p>Tech billionaire Mike Cannon-Brookes is whispered to have secured a very grand Southern Highlands country estate.</p>
<p>The Atlassian founder is tipped to emerge as the $5.35 million buyer of <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-nsw-kangaloon-127430818" target="_blank">Rosehill Farm, the 45 hectare property in Kangaloon.</a></p>
<p>Complete with Richard Rowe-designed homestead, Rosehill Farm features a designer country farmhouse, complete with interiors styled by Coco Republic. It sits in gardens by landscaped architect Michael Bligh.</p>
<p>The English style walled garden areas feature an orchard, veggie gardens, croquet lawns and outdoor alfresco spaces under wisteria covered pergola complete with fireplace and pizza oven.</p>
<p>The 2005-built Australian homestead with a wrap-around verandah, incorporated elements of New England architecture.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/rosehill2.jpg" alt=""></p>
<p>Spanning 540 sqm of internal living, the five bedrooms home has a gym, study, and a walk-in cool room for catering.</p>
<p>Completing the farm element is a stable complex, barn machinery shed, two horse stalls and a dressage arena. There's also a self-contained studio on the property.</p>
<p>The family already owns in the highlands, Joadja Creek Farm, a 390 hectare farm bought for $3.3 million in 2016. </p>
<p>Rosehill last sold in 2016.</p>
<p>Funds manager Will Liley and his UK born artist wife Janice sold to entreprenuer Rose Deo for $4.8 million through estate agent Deborah Cullen.</p>
<p>This article was first published in the Sunday Telegraph.</p>
<p> </p>
</body></html>

Rosehill Farm, Kangaloon sold by Rose Deo

<html><body><div title="Page 1">
<div>
<div>
<p>COLI Australia, the property development arm of China's China State Construction Engineering, sold 60 of 120 apartments at its first project in Australia, Neue by Coli in Macquarie Park on Saturday.</p>
<p>The 285-apartment project sits on a corner site next to Macquarie University. COLI started in 1979 with its first project in Hong Kong, and in 2016 on Neue, its first Australian project at Macquarie Park.</p>
<p>Neue by Coli comprises two residential towers with DA approval for 285 apartments designed by architects SJB.</p>
<p>Its architectural designs see 85 percent of the apartments being on a corner position.</p>
<p>There were also a number of first time property buyers as well as property investors, due to the close proximity to Macquarie University, shopping centre and the railway station, managing director of Coli Australia, Jason Huang said.</p>
<p>“I believe being part of the world's largest development company puts buyers at ease that Coli will deliver one of the best developments in Sydney.  </p>
<p>"We have already achieved this around the World in London, Hong Kong, China and New York".</p>
<p>Current buyers in the market need the confidence and assurance that any development they buy into has the capacity to deliver, the selling agents suggested.</p>
<p>COLI has had more than 500 residential and commercial projects in over 60 global gateway cities.</p>
</div>
</div>
</div></body></html>

Neue, Macquarie Park secures strong weekend OTP sales

<html><body>
<p>Macquarie, the oldest farm and oldest continuing residence west of the Great Divide, is set for an open day after its recent restoration.</p>
<p>The 1820s convict barracks and the homestead, built a few years later, have been restored and the formal rooms will be <a href="https://www.nationaltrust.org.au/event/macquarie-open-day/" target="_blank">open for viewing</a>.</p>
<p>A plaque will be unveiled by former Governor of New South Wales, Dame Marie Bashir, patron of the Macquarie Society this weekend. </p>
<p>Circumstantial evidence supports the assertion Macquarie is the oldest farm and oldest continuing residence west of the Great Divide.</p>
<p>It contains the original 1000 acre land grant to Lieutenant William Lawson by Governor Lachlan Macquarie as Lawson’s reward for his contribution in finding a way across the Blue Mountains.</p>
<p>Lawson was to become fond of Lachlan Macquarie, and in his honour renamed Discovery Farm as Macquarie, apparently in honour of a Vice-Regal visit during one of Macquarie's tours of inspection.</p>
<p>Macquarie, in it’s  200 years of European history, has only had two owners prior to the Hennessey’s, namely, the Lawson and McKibbin families.   </p>
<div>
<p>Macquarie remained in the Lawson family until 1918 when it was sold to the McKibbin family.</p>
<p>One of the McKibbin's was Tom McKibbin who lived at Macquarie with his wife, Edith. A colourful character, Tom in the 1890s was an Australian Test cricketer whose 1896 tour of England saw Tom's bowling action the subject of some controversy.</p>
</div>
<div>
<p>Paul and Bonny Hennessy became just the third owners of the property in 2012 when they bought it with a commitment to restore it to its former glory.</p>
</div>
<div>
<p>Since then they have employed more than 250 tradespeople and labourers.</p>
<p>Macquarie is situated 12 kilometres south east of Bathurst at 3397 O’Connell Road, The Lagoon around eight kilometres from the Great Western Highway.</p>
</div>
<p dir="ltr">For the past five years Paul and Bonny Hennessy have been working to save for posterity the most historic curtilage west of the Great Divide in particular, the early Colonial/Georgian homestead.</p>
<p dir="ltr">When they secured the property, the homestead was uninhabitable.</p>
<p dir="ltr">The two storey convict barracks were falling down.</p>
<p dir="ltr">It was the first farm over the mountains when 100 head of cattle moved on to the property in 1815.</p>
<p class="m_6842253918190024729x_MsoNormal"><em><span> <img src="https://www.urban.com.au/images/2018/3/16/MQ%202.JPG" alt=""></span></em></p>
</body></html>

Restoration of historic Macquarie farm at Bathurst

<html><body>
<p>A Fitzroy residential conversion that was once home the Victorian Movie Makers' Society fetched $3.7 million at weekend auction.</p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-fitzroy-127659062" target="_blank">clean-edged 1950s building</a> - where 8mm amateur film sessions was all the rage - had been converted many years ago into a contemporary three bedroom home.</p>
<p>The Victorian Movie Makers signage is still etched on to the facade, despite the group selling the property for $571,000 in 2002.</p>
<p>Set near the Gertrude Street design precinct, there was a $3.5 million to $3.7 million price guide through Nelson Alexander Fitzroy agents Arch Staver and Luke Chisholm.</p>
<p>Centred around an open plan living room with soaring nine metre ceilings, the home features a master bedroom retreat with ensuite. The second living room flows to a landscaped alfresco entertaining terrace.</p>
<p>It last traded for $2.85 million in 2014.</p>
<p>The cheapest weekend sale across the country's capitals was nearby in Melbourne's Brunswick.</p>
<p>The one bedroom <a href="https://www.realestate.com.au/sold/property-unit-vic-brunswick-127594466" target="_blank">14/38 Canberra St, Brunswick</a> villa fetched $282,000. There had been $245,000 to $270,000 pre-auction price guidance.</p>
<p>It last sold at $20,000 in 1982, having sold at $24,000 in 1981.</p>
<p>The top Melbourne sale was $6.3 million in Malvern through RT Edgar.</p>
<p>The pre-auction guidance had been <a href="https://www.realestate.com.au/property-house-vic-malvern-127574522" target="_blank">$5.5 million to $6 million for 13 Wilks Avenue</a>.</p>
<p>The renovated 1930’s family residence sits on a 913 sqm block in the coveted Stonington Estate.</p>
<p>It last sold at $2.15 million in 2004.</p>
<p>Elsewhere in Melbourne Carlton recruit Aaron Mullett secured $1.011 million on Friday night (photo above) after three pre-auction offers for his Flemington home of three and a half years. </p>
<p>Mullett has shared the Princes Street<a href="https://www.realestate.com.au/sold/property-house-vic-flemington-127637514" target="_blank"> two-bedroom, one-bathroom home</a>, with his fiancee Elle.</p>
<p>The property, which sold in 2014 for $760,000, hit the market with a $890,000-$979,000 price guide through Alexkarbon Real Estate.</p>
<div>Mullett landscaped the back and front yards of the single storey red brick house which came with high ceilings, polished hardwood floors.</div>
<div> </div>
<div>
<div>Corelogic's preliminary auction clearance count indicated the success rates had soften as the number of auctions surged to the second busiest week so far this year.</div>
<div> </div>
<div>Click here <a href="https://www.propertyobserver.com.au/images/2018/3/19/clearance.jpg" target="_blank">to enlarge.</a>
</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/clearance.jpg" alt=""></div>
<div> </div>
<div>
<div>There were 3,097 homes taken to auction across the combined capital cities this week, showing a 67.5 per cent success rate.</div>
<div> </div>
<div>In comparison, 1,764 auctions were held last week and the final clearance rate came in at 63.3 per cent.</div>
<div> </div>
<div>Over the same week last year, auction volumes were lower with 2,916 homes going under the hammer across the combined capital cities, although the clearance rate was a stronger 74.1 per cent, CoreLogic auction analyst Kevin Brogan advised.</div>
<div> </div>
<div>"Looking at auction volumes, Perth was the only city to see a slight fall in the number of homes taken to auction this week, while all other cities increased," he noted.</div>
<div> </div>
<div>In Melbourne, a preliminary auction clearance rate of 68.9 per cent was recorded across 1,656 auctions, down from 70.8 per cent across just 453 auctions on the prior holiday weekend. </div>
<div> </div>
<div>Sydney was host to 1,055 auctions this week, with preliminary results showing a 67.8 per cent success rate, up from 62.2 per cent across 974 auctions last week.</div>
<div>
<p>"Buyers certainly feel like the tides have changed," Cooley Auctions' auctioneer Damien Cooley told the Australian Financial Review, adding he won't call it a buyers' markets unless clearance rates are less than 50 per cent.</p>
</div>
<div>This time last year, the clearance rate was a stronger 76.8 per cent across 1,001 auctions.</div>
<div> </div>
<div>Sydney's top house sale was $5 million on Kogarah Bay through McGrath Estate Agents (below).</div>
<div> </div>
<div>The five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-kogarah+bay-127686046" target="_blank">78 Carlton Crescent</a> came with boast shed on its 500 sqm holding which last sold four decades ago.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/kog1.jpg" alt=""></div>
<div> </div>
<div>Adelaide recorded the highest mainland preliminary clearance rate at 69.7 per cent.</div>
</div>
</div>
<div> </div>
<div>But Saturday's South Australian election prompted estate agent Charles Booth to delay the auction of a five-bedroom Prospect house until next Thursday night, sensing some people were delaying decisions until after the result.</div>
<div> </div>
<div>The <a href="https://www.realestate.com.au/property-house-sa-prospect-127678286" target="_blank">31 Alpha Road offering</a> was a 1926 Tudor style house on 2,100 square metres with a price guide between $2.9 million and $3.1 million.</div>
<div> </div>
<div>CoreLogic calculated the number of scheduled auctions in the SA capital on the weekend was 99, up from 94 last weekend but down from 115 the weekend prior.</div>
<div> </div>
<div>
<div>Canberra's top sale was <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/90-dominion-circuit-deakin-canberra/1317497374611" target="_blank">90 Dominion Circuit, Deakin</a> which fetched $3.75 million through Luton Properties.</div>
<div> </div>
<div>The five bedroom house last sold in 1996 at $725,000.</div>
<div> </div>
<div>Canberra's cheapest sale was <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/9-2-covington-crescent-charnwood-canberra/1317497168611" target="_blank">9/2 Covington Crescent, Charnwood</a> which fetched $322,000.</div>
<div> </div>
<div>The single level two bedroom courtyard home was marketed as "in need of attention."</div>
<div> </div>
<div>Brisbane's cheapest was $466,000 for a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-algester-127593562" target="_blank">15 Stonewood Street, Algester</a>.</div>
<div> </div>
<div>It last sold at $108,000 in 1999.</div>
<div> </div>
<div>The dearest Brisbane sale was <a href="https://www.realestate.com.au/property-house-qld-stretton-127680786" target="_blank">an acreage further south</a> at 115 Frizzell Street, Stretton.</div>
<div> </div>
<div>The three bedroom house sat on a 4047 sqm holding just 18 kms out of the CBD.</div>
<div> </div>
<div>Brisbane's auction clearance rate was 55.8 percent.</div>
</div>
<div class="wp-caption"><span><span> </span></span></div>
</body></html>

Carlton recruit Aaron Mullett secures $1.011 million after pre-auction offers for Flemington home

<html><body>
<p>Opera singer and society photographer Mark Bradley, who set up the corporate entertaining company Three Waiters, has listed the Thirroul acreage he shares with wife Monique.</p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-thirroul-127735178" target="_blank">seven hectare estate</a> features its own valley and forest not far from Thirroul Beach.</p>
<p>The Bradley's paid $1.45 million in 2004.</p>
<p>Set over three levels, the country style home has high ceilings, timber floors and expansive outdoor decking.</p>
<p>There's five bedrooms, two kitchens, a dedicated study and a bar in the third living areas.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/15/thirroul2.jpg" alt=""></p>
<p>A swimming pool and jacuzzi are accessed through French Doors off the open plan living and dining area.</p>
<p>Belle Property Wollongong agents Darren and Nicole Kay have a March 27 auction.</p>
<p>Nearly 20 years ago Bradley created The Three Waiters, a surprise singing waiters act.</p>
<p>Bradley, who has over 25 years of experience in the events industry, had attended over 2,500 events before coming up with the idea.</p>
<p>Bradley then asked opera singers David Haydon and singer and actor Darryl Lovegrove to join him to make up the original trio.</p>
<p>They have gone on to perform nearly 11,000 shows in 85 countries. </p>
<p>They have won 11 international event entertainment awards and is the only act to win 'Entertainer of the Year' twice at the USA Event Solution Awards.</p>
<p>Bradley has developed a number of high end acts including String Angels, Tenors Undercover, HypnoTWIST, Figaro and Voice of the King. </p>
<p><em>This article was first published in the</em> Sunday Telegraph.</p>
</body></html>

Thirroul estate listed by Three Waiters opera singer 

<html><body>
<p>After just 20 months ownership, the test cricket legend Shane Warne seems to have profited handsomely from flipping his Melbourne home.</p>
<p>It was the heritage Brighton trophy home he bought in August 2016 for $14.2 million and sold last month for a reputed $20 million.</p>
<p>The spin king's off market sale was flipping at its best.</p>
<p>Flipping is a popular term used to describe short term property trading.</p>
<p>Perhaps Warne didn't have the intent of reselling the property in a short time frame for a profit, but he certainly knew how to ride the capital growth curve.</p>
<p>Without any marketing photos it's not possible to confirm the before and after, but it doesn't appear he spent much adding value to the property second time around.</p>
<p>That was done when he owned Melville the first time, paying $3.6 million in 2000, then spending that amount again on a major renovation and extension, and selling the matrimonial home in 2007 for $8.8 million.</p>
<p>Property analysts, CoreLogic which now produce a flipping report, found flipping most prevalent in Sydney and Melbourne.</p>
<p>Across Sydney 6.8 per cent of all property re-sales over the past year were flips between one and two years of property ownership.</p>
<div>Regional Queensland (6.6 per cent) and Melbourne (6.4 per cent) also recorded a higher percentage of property sales as flips.</div>
<div> </div>
<div>Although values have been rising there had not been an accompanying substantial increase in flipping behaviour.</div>
<div> </div>
<div>Certainly not like the rise witnessed during the early 2000s housing boom.</div>
<div> </div>
<div>But when Sydney vendors do flip, they are in most instances flipping for a profit. </div>
<div> </div>
<div><span>In Sydney, only 5.7 per cent of flips within one to two years of purchase were at a loss, compared to 37 per cent a decade or so ago. </span></div>
<div> </div>
<div><span>At close to 95 percent, regional NSW last year recorded the highest percentage of flips at a profit within one to two years of purchase, followed by Sydney (94 percent) and Melbourne (93 percent).</span></div>
<div><span> </span></div>
<div>The national average was 89 percent.</div>
<div> </div>
<div>Interestingly it was the Illawarra region that experienced the highest level of flips in NSW - 8.7 per cent of resales - along with the highest annual increase in flipping - and Illawarra was among the most profitable regions in NSW, with only around two per cent of properties flipped at a loss.</div>
<div> </div>
<div><span>The NSW Southern Highlands and Shoalhaven regions also saw profits, actually recording no losses for flips less than a year, and just 0.9 per cent from one to two years.</span></div>
<div> </div>
<div>In order to make a profit, flippers need to recoup their transactional costs including stamp duty, conveyancing, the marketing and real estate agent commission.</div>
<div> </div>
<div>Vendors in Perth, Hobart, Darwin, and the regions of SA, WA, Tasmania and the NT were the most likely to flip their properties for a loss, given value growth has been sluggish for a number of years.</div>
<div> </div>
<div>This article was first published in the Saturday Daily Telegraph.</div>
<div>
<p> </p>
</div>
<div> </div>
</body></html>

New South Wales showing strong flipping figures

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>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.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>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.</p>

<p>"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.</p>

<p><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" /></p>

<p>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.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>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.</p>

<p>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.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>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.</p>

<p>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.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>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.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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;</p>

<p>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.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"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.</p>

<p>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.</p>

<p>A major focus of the design has been the public domain.</p>

<p>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.</p>

<p>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.</p>

<p data-end="239" data-start="66">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.</p>

<p data-end="442" data-start="241">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.</p>

<p data-end="661" data-start="444">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.</p>

<p data-end="909" data-start="663">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.</p>

<p><em>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></em></p>

<p data-end="1339" data-start="1019">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.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">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.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">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.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">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.</p>

<p><em>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></em></p>

<p><em>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></em><br />
&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

<p data-end="492" data-start="327">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.</p>

<p data-end="843" data-start="497">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.</p>

<p data-end="1109" data-start="848">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.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


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

<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News