<html><body>
<div class="cq-article-content-paras section">
Alibaba Australia are looking at listing apartments on its platform for Chinese consumers in Australia.
Following the launch of its first Australia office in Melbourne on Saturday, the $328 billion, US-listed company have discussed including realestate on their platform.
The e-commerce platform focuses on small businesses selling products popular with Chinese consumers, such as agricultural products and vitamins.
John O'Loghlen, Alibaba's Australia New Zealand business development director told the Australian Financial Review that it has been discussed internally.
<div>
"This space is [currently] well serviced by the market and the Monika Tu's of the world and they do a good job," he told the AFR.
"Our focus is on small businesses but we've discussed it [selling real estate].
"It is possible, as it is an area that is changing so fast.
</div>
<div>"Alipay is the dominant platform for these transactions, but it is important that the Australian and Chinese tax bureaucracies are transparent.</div>
<div> </div>
<div>"We are incredibly aware of the flows of money that it will attract."</div>
<div> </div>
<div>The plans would not be immediate.</div>
<div class="cq-article-content-paras section">
Alibaba has shown interest in recent months in the property section, making a $3.5 billion bid for Intime Retail Group, a Chinese department store chain.
It will allow Alibaba's online customers to pick up orders from stores quicker with access to the department store's inventory.
Executive chairman and founder Jack Ma told the Financial Review that there were no immediate plans to buy a shopping centre in Australia.
He did suggest however that he believes there should be an alignment of online and offline shopping businesses.
"For sure one thing is Chinese people like Australian products, but demand is still huge," he told the AFR at the launch in Melbourne on Saturday.
"When we build new retail, we want to combine online and offline together.
"I don't believe pure online businesses can last forever.
"So, while our businesses grew tremendously last quarter, we also saw the decline of traditional retail." 
There are only two Chinese platforms that would rival Alibaba's interests, ACProperty.com.au, sister site Sodichan.com and Juwai.com's new platform with Tencent.
Alibaba's immediate focus will be on getting small businesses onto the platform.
"Australia has the potential to do business with China," Ma said.
There are 500,000 Chinese [nationals] in Sydney and 300,000 in Melbourne.
"These people love Australia and Australian products and they also understand the Chinese market."
 
</div>
</div>
 
</body></html>

jchancellor-FAypfDUnLy

Alibaba Australia discusses listing apartments to Chinese consumers

<html><body>
LJ Hooker chief financial officer Tom Wallace has departed the real estate agency.
It comes following its decision to pull a planned public ASX float. 
Tom Wallace had joined LJ Hooker, Australia's second-largest real estate agency network, in April last year from the ASX-listed Servcorp, where he was also chief financial officer.
He resigned after the departure of the former chief executive Grant Harrod.
LJ Hooker chairman Janusz Hooker said both were appointed to progress the IPO.
Hooker told The Australian Financial Review that "their skillsets weren't going to be utilised and it wasn't going to be what they wanted to do."
LJ Hooker has appointed media company Dentsu Aegis Network's Asia-Pacific head of commercial finance Esther Selvanayagam as chief financial officer. 
</body></html>

LJ Hooker CFO departs

<html><body>
The Credit Suisse advisor Michael Wachtel has bought the Portsea weekender, Blair Ridge for $1.95 million.
The Toorak based Future Fund board member and photographer wife, Linda secured <a href="https://www.realestate.com.au/sold/property-house-vic-portsea-124403442" target="_blank">the three bedroom home</a> at its Australia Day long weekend auction.
There's a large entertaining deck that overlooks the Fiona Brockhoff designed gardens where the RT Edgar agents Warwick Anderson and Ilze Morgan held the auction.
It came on the market at $1,925,000 with underbidding from a woman with a State of Escape handbag.
Wachtel, a past president of the International Fiscal Association, went and got his ANZ chequebook from his black BMW after the auction which had three bidders.
The Armadale barrister James Mighell and wife Alison had owned the home since 1997 when they paid $247,500. 
The famous Bell stockbroking family members were among the crowd as Colin senior and widow Rachel, had the home as a weekender from their Malvern base in the 1950s.
Brothers Andrew and Lewis were there, however Colin junior was sailing on Pittwater.
The late Sun newspaper columnist Jack Cannon and wife Judith sold it in 1997, some 17 years after paying $45,000 in 1980.
Just along Blair Road, Toorak-based entertainment lawyer Andrew Abercrombie and wife Shadda are selling Provenance having spent nearly $10 million on the Wayne Gillespie-designed Mandurah in 2015.
They're asking for over $5 million for the 2000 built, seven bedroom home on its 3,758 square metre holding. 
The couple paid $666,000 in 1998. 
Wachtel is currently selling his five-bedroom Toorak home with a price guide of $6.8 million-plus having paid $3.2 million for a 410 square metre site elsewhere in Toorak where they will build a new house.
This article first appeared in The Weekend Australian.
 
 
</body></html>

Portsea buy by Future Fund's Michael Wachtel

<html><body>
The Hawkesbury River log cabin once owned by the late Sydney stockbroker, Rene Rivkin is back on the market.
Its current owners Bob and Wendy Lapointe have $5 million expectations through Ray White Windsor agent Peter Chidgey. 
Lapointe introduced takeaway chain Kentucky Fried Chicken to Australia.
<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/2017/02/07/log_cabin.jpg" alt="">
He has owned the <a href="https://www.realestate.com.au/property-house-nsw-spencer-124588930" target="_blank">Spencer</a> log cabin since 2011 when he paid $1.45 million for it.
Built by Appalachian Log Homes, the cabin was a favourite getaway for Rivkin, who used to fly or boat in.
</body></html>

Rene Rivkin's former Hawkesbury River log cabin with $5 million expecations 

<html><body><div class="page" title="Page 1">
<div class="section">
GUEST OBSERVER 
Dwelling approvals posted a slight 1.2 percent decline in Dec in line with expectations (Westpac –1 percent, market –1.5 percent).
The Dec dip follows a 7.5 percent gain in Nov that was a partial rebound from a sharp 23 percent drop over the previous 3mths. 
That earlier move marked the first definitive sign that Australia's high-rise driven building boom was starting to turn down.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.17.36%20AM.png" target="_blank">Click to enlarge </a>
<img src="https://www.urban.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.17.36%20AM.png" alt="">
The Nov bounce and Dec stablisation scales back the pace of the decline but leaves the downtrend intact – trend approvals are now down 13%yr.
The Dec mix showed further weakness in private sector houses (–1.6%mth to be down –9.6 percent/yr) with ‘units’ up slightly (+0.9 percent/mth but still down –13 percent/yr). Our estimates suggest high rise approvals were up about 4%mth with 'low rise' broadly stable.
High rise is still at the epicentre of the slowdown although the softer picture on non high rise approvals is notable particularly for construction activity in 2017 (the longer time frame on projects means the high rise impact falls more into 2018).
<a href="https://www.propertyobserver.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.19.49%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.19.49%20AM.png" alt="">
The state detail suggests the high rise downturn is more abrupt for NSW and Qld with Vic approvals in this segment more volatile around a milder downtrend. For ‘non high rise’ approvals the weakness is much more pronounced in Qld and WA with approvals flattening out in NSW and Vic rather than trending materially lower.
Given the aforementioned timing differences, that suggests the path for construction activity will be very different across states with near term weakness concentrated in the mining states, and the high rise slowdown having more of an impact on NSW and Qld in 2018.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.20.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.20.46%20AM.png" alt="">
The value of renovation approvals surged 15.2 percent in Dec to be up 12.3 percent/yr. The renewed uptrend and detail suggests there was a 'pause' in activity in NSW and Vic, possibly relating to election uncertainty.
The value of non res building approvals edged up 0.7 percent but were down 6.7%yr. Extreme lumpiness makes it difficult to be sure of the underlying trend although the value of approvals for Q4 as a whole was down across most segments with a notably sharp fall in NSW.
Overall, aggregate approvals continue to track in line with our expectation of a significant high rise driven slowdown. The mix has been a little weaker for non-high rise approvals though suggesting construction activity may be a touch softer in the second half of 2017.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.21.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%208.21.42%20AM.png" alt="">
As we highlighted in a several pieces last year, the long lags on high rise projects mean the downturn in this segment will not impact construction activity until well into 2018 with work done still relatively well supported in 2017. We will be expanding on this research in coming months to provide a clearer view of the likely path for construction activity and completions across the major states. 
</div>
<div class="section">
<div class="layoutArea">
<div class="column">
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
</div>
</div>
</div>
</div></body></html>

December dwelling approvals decline: Westpac's Matthew Hassan

<html><body>
PRDnationwide nominated three suburbs as their affordable house hotspots for 2017.
Gymea
Approx. distance from CBD: 20km
Median house price: $1,200,000
2 Bed Median Price $1,132,500
3 Bed Median Price $1,195,000
4+ Bed Median Price $1,235,000
Located south of Sydney, Gymea enjoys close proximity to Port Hacking, southern beaches and national parks.
The suburb has experienced continuing strong house median price growth of 13.1 percent over the last year.
A very low vacancy rate of 0.5% reflects the high demand for rental properties. It offers good accessibility for CBD commuters with its own train station.
An estimated $37.7 million of developments are planned for construction in Gymea over the 18 months from January 2016.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-gymea-122813682" target="_blank">110 Manchester Road</a>, Gymea (above) was sold for $1,920,000.
North Parramatta
OVERVIEW
Approx. distance from CBD: 20km
Median house price: $1,107,035
<ul>
<li>2 Bed Median Price $850,000</li>
<li>3 Bed Median Price $1,107,035</li>
<li>4+ Bed Median Price $1,200,000</li>
</ul>
North Parramatta is not only close to the satellite city of Parramatta but is also home to Charles Sturt University as well as a number of prestigious private schools.
Located north-west of Sydney’s CBD its median house price has increased by a solid 9.3% over the last year.
Its situation, close to Parramatta’s continuously developing high-rise and commercial hub, as well as its own estimated $13 million of new developments, reflects the positive economic activity and impetus for the area.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+parramatta-122506454" target="_blank">29 Gilbert Street</a>, North Parramatta (below) was sold for $1,045,000.
<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/2017/01/31/29%20Gilbert%20Street.jpg" alt="">
Roselands
OVERVIEW
Approx. distance from CBD: 13km
Median house price $970,000
• 2 Bed Median Price $960,000
• 3 Bed Median Price $927,500
• 4+ Bed Median Price $1,120,000
Roselands is situated in Sydney’s south-west, near previous and current hotspot, Greenacre, with direct access to the key M5 transport route.
Over the last year it recorded solid median house price growth of 5.4%, together with low vacancy rates of 1.4% (less than Sydney’s rate of 1.9%) and rental yield of 3.0%.
Projects, with an estimated value of $155 million, are planned to commence in 2016 and 1st half 2017.
This extensive construction activity provides strong potential for Roselands’ future economic growth.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-roselands-121707758" target="_blank">136 Karne Street</a>, Roselands (below) was sold for $995,000.
<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/2017/01/31/136%20Karne%20Street.jpg" alt="">
</body></html>

Roselands, Gymea and North Parramatta nominated as Sydney property hotpsots

'We don’t know our neighbours' - a cliché of contemporary urban life: Hugh Mackay

<html><body>
The newly formed The Agency website went live yesterday.
But with no sign of their star recruit.
Matt Lahood isn't allowed to take the helm until April after his defection from the McGrath group.
The months of speculation has obviously been accompanied by a few secret signups, lesser-known agents who have joined an array of the many existing agents within the Perth-based group being launched nationally by Ausnet Financial Services.
There are just the nine Sydney residential property listings.
The group's sales team is now headlined by Ben Collier who kicks off his listings with Kathy Ward's Centennial Park offering.
The<a href="https://www.realestate.com.au/property-house-nsw-centennial+park-124601802" target="_blank"> Lang Road holding</a> (below) was bought for $2,505,000 in 2001 by the boss of modelling agency Chic Management. 
<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/2017/01/31/110%20Lang%20Road.jpg" alt="">
Collier's colleague Brad Gillespie has three listings.  
The Agency will reportedly offer more lucrative splits for the agents.
Franchise agencies usually take a 50:50 split on all the agents’ sales commissions, with more generous 60:40 splits in the agents’ favour in some cases.
However, The Agency offers agents a starting split of 75:25 split in the agents’ favour, rising to 80:20 and 85:15 as higher targets are met.
The ASX was advised yesterday that Perth-based real estate and financial services group Ausnet Financial Services Limited has entered into a licence agreement and an option to acquire Top Level Real Estate Pty Ltd as part of its planned national roll-out of its The Agency platform, its so-called disruptive and fast growing real estate sales and property management business.
Top Level is the eastern seaboard real estate business with 17 agents, including the following:
Matt Lahood (CEO) – Commences 3 April 2017
Steven Chen (Director of Projects) – Commences 15 February 2017
Maria Carlino (Director of Property Management)
Thomas McGlynn (Director of Sales and Chief Auctioneer)
Ben Collier (Property Partner)
Shad Hassen (Property Partner)
Ausnet advised subject to completion of two non-binding agreements by 30 June 2017, Top Level will have expand by a further 23 agents, with 3,700 properties under management.
Under the licence agreement, Top Level will have rights to use The Agency brand and intellectual property on the East Coast of Australia, while Ausnet will retain an option to acquire Top Level within the next 12 months.
</body></html>

The Agency unveils website with Chic model boss Centennial Park offering

<html><body>
Sydney publican Paddy Coughlan has acquired The Botany View Hotel in Newtown for $6.4 million in the latest sign of strong demand for inner city food and beverage pubs.
The BVH, as it is affectionately known, is situated at the southern end of King Street.
It boasts an expansive two-level trading footprint, extended trading hours and a first floor beer garden with a 2am license approval.
CBRE Hotels' Sam Handy and Daniel Dragicevich negotiated the sale on behalf of the Murphy family who have owned and operated the pub for the past 26 years.
The deal marks the third inner west pub acquisition for Mr Coughlan, who recently acquired the Lady Hampshire in Camperdown and the Lord Gladstone in Chippendale. It comes at a time when the private equity backed Riversdale Group, a business that Coughlan founded (and is still an investor in), seeks an exit with the group's assets being sold down for significant premiums.
Coughlan said he'd noticed a real shift in recent years, with many Newtown locals gravitating towards the southern end of King Street.
"The recent acquisition of the Sydney Park Hotel by Ray Reilly and the Queen Victoria Hotel by Justin Hemmes has highlighted this migration trend.”
Mr Coughlan added that he would look to replicate the success that had been achieved at the Lord Gladstone with a revised food and beverage proposition at the Botany View.
CBRE Director Sam Handy noted that the sale follows a spate of bullish food and beverage pub sales within inner Sydney, most of which have been transacted through CBRE Hotels.
These sales include the Winery (Surry Hills), Cargo Bar (Darling Harbour), the Sydney Park Hotel (Newtown) and the Trinity Bar (Surry Hills).
</body></html>

Paddy Coughlan buys Newtown pub, The Botany View Hotel

<html><body>
The latest CoreLogic Pain &amp; Gain report reveals the average profit on resale has increased to $262,672 while average loss was $71,529 over September 2016 quarter.
CoreLogic's latest Pain and Gain Property Report delivers market analysis for residential property resales over the September 2016 quarter.
It compares the most recent sale price to its previous sale price in order to determine the magnitude of profits made, or losses incurred by a vendor when selling a home.
Sydney recorded the highest value of profit-making resales of all regions in Australia over the quarter, earning an overall profit of $6.22 billion in the three month period.
However, the most dramatic change over the year occurred in Perth and Darwin where the instances of loss on resales almost doubled.
Meanwhile Tasmania’s Hobart recorded a lower proportion of dwellings resold at a loss.
Adelaide was one of only three capital cities to record a lower loss rate this quarter while Melbourne now has the lowest proportion of loss-making house resales of all capital cities at 2.1%.
In Brisbane, the number of loss-making unit resales was more than double that of houses.
Key Findings:
<ul>
<li>$477.9 million in realised losses form resales compared to $17.0 billion in realised profits.</li>
<li>Average loss was $71,529 while the average profit was significantly higher at $262,672.</li>
<li>9.4% of national dwellings resold over the third quarter of 2016 transacted for less than their previous purchase price and slightly higher than the 9.3% over the June 2016 quarter.</li>
<li>Compared with the same quarter last year, the proportion of loss making sales shifted 1.3 percentage points higher, continuing the trend towards more loss making sales across the Australian housing market.</li>
<li>By proportion, loss making sales reached a recent low point over the three months to November 2016 when 7.9% of all resales made a loss.</li>
<li>Over nine out of every 10 homes resold for more than their previous purchase price over the September 2016 quarter.</li>
<li>Capital city housing markets recorded lower proportions of loss-making resales than regional areas of the country.</li>
<li>Regional homes resales in coastal and lifestyle markets continued to trend lower in the coastal and lifestyle markets.</li>
<li>Losses climbing in most regions linked to the resources sector.</li>
</ul>
According to Cameron Kusher, head of research at CoreLogic, of worthwhile note is that across Australia, those homes that resold at a loss had a typical length of ownership of 6.1 years for houses and 6.5 years for units.
Across all gross profit sales realised, the typical length of ownership was recorded at 9.1 years for houses and 7.6 years for units.
He said the latest results highlight that ownership of property, whether for investment or owner occupier purposes, "should be seen as a long-term investment”.
“Although the occurrence of losses rose over the quarter, in most cites the instances of homes reselling at a loss is low with the exceptions being Perth where almost two out of every five dwellings resold at a loss and Darwin where approximately three out of every 10 resales was at a loss over the quarter.”
Across the individual capital cities, the proportion of loss-making resales over the September 2016 quarter were recorded at:
<ul>
<li>Sydney 2.3% compared to 1.7% Sept 2015.</li>
<li>Melbourne 4.9% compared to 4.9% Sept 2015.</li>
<li>Brisbane 8.5% compared to 7.3% Sept 2015.</li>
<li>Adelaide 7.2% compared to 9.0% Sept 2015.</li>
<li>Perth 19.6% compared to 10.8% Sept 2015.</li>
<li>Hobart 8.4% compared to 12.0% Sept 2015.</li>
<li>Darwin 30.7% compared to 17.4% Sept 2015.</li>
<li>Canberra 12.2% compared to 11.4% Sept 2015.</li>
</ul>
According to Kusher, by comparing individual city figures to those of one year ago, it provides insights into the strong and improving housing markets and those which have weakened.
He said: “The cities with the dramatic changes over the year have been Perth and Darwin where the instances of loss have almost doubled and Hobart where there have been far fewer dwellings reselling at a loss”.
“In most instances, houses virtually always show a lower proportion of loss-making resales than units.
“The likely reason for this is that the value of a house is largely derived from the land and its location. Also, typically houses have increased in value at a faster rate than units.
“Over the September 2016 quarter, 8.0% of houses resold at a loss nationally compared to 12.7% of units.”
Across the combined capital cities, the report shows that houses were almost half as likely to be resold at a loss compared to units over the September 2016 quarter, with the figures recorded at 5.6% and 10.2% respectively.
Both houses and units have seen the proportion of loss-making resales trend higher over the past year however, units have trended higher at a more rapid pace than units.
This data set is available from 1994 and over that period, units have never recorded a lower proportion of loss-making resales than houses.
</body></html>

Sydney secures $6.2 billion of profit-making property resales: CoreLogic

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

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.

&nbsp;

&nbsp;

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.

&nbsp;

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> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

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]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News