<html><body>
Gowrie, a Moonee Ponds trophy home, has been listed for sale with $4 million plus expectations.
Gowrie sits on a 1525 square metre Ardmillan Road block.
It is a showpiece Edwardian residence, rich in 1920s period detail.
There's four bedrooms, two living zones and two dining areas.
Nelson Alexander’s Jon McKenna and Mark Britt are marketing <a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-124058330" target="_blank">10 Ardmillan Road</a> which comes with a large rear garden with pool.
<img src="/images/2016/12/14/Moonee%20Ponds-2.jpg" alt="">
The home was owned by football champion Wayne Carey when sold at a record $1.15 million in 1999. It traded at $620,000 in 1995.
The Kangaroos captain owned elsewhere on Ardmillan Road selling in 2000 for $530,000 having bought for $420,000 a year earlier.
</body></html>

jchancellor-FAypfDUnLy

Gowrie, Moonee Ponds trophy home listed

<html><body>
The Tamarama home of former fashion retail pioneer and Ingham Chicken heir Robby Ingham and wife Sarah is back on the market after a collapsed sale.
It was thought to have set a suburb record when it sold in August for close to $14 million, however an expat banker opted not to proceed with the purchase.
Pauline Goodyer at Goodyer Real Estate retains the listing that first went up for sale in April.
It now comes with $14.75 million hopes.
It is a three storey home with five bedrooms and five bathrooms.
<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/2016/12/14/Tamarama.jpg" alt="">
The ground floor features a split level design comprising a kitchen, living room and separate dining room. Each zone opens onto a terrace.
The master retreat with ensuite offers floor to ceiling windows that open onto a private ocean facing balcony.
The lower ground level has a 25 metre lap pool with a gym, family room and a self-contained studio apartment.
The oceanfront reserve Gaerloch Avenue property was redundant as the Inghams had built nearby after demolishing a block of six apartments which cost $14.45 million in 2013.
Ingham is a famous name around the Sydney fashion scene.
Ingham and his siblings received an inheritance from the family chicken business, which was sold to the private equity company TPG Capital in 2013.
This article first appeared in the Daily Telegraph
</body></html>

Fashionista Robby Ingham relists Tamarama record setter with $14.75 million asking price

<html><body><div>
Markdel, the Mornington Peninsula thoroughbred training facility owned by the horse training Freedman brothers, is under offer.
The <a href="https://www.commercialrealestate.com.au/property/160-200-sandy-road-fingal-vic-3939-2012270949" target="_blank">38 hectare Fingal property</a> that brothers Lee, Richard, Michael an Anthony designed and built in 2002 had been on the market for almost two years.
The Freedman's departed the farm in stages, with Anthony the last to go in 2012 when he moved his stables to Flemington.
It's the property that Makybe Diva prepared for two of her three Melbourne Cup triumphs.
Markdel includes an 85-box stable complex, a 1200 metre sand-based grass track, an 1800-metre rising railed sand track and a heated horse swimming pool
Apart from the Melbourne Cup triumphs, winners of the Caulfield Cup, Golden Slipper, Cox Plate and numerous Derbies and Oaks have all trained at Markdel.
Colliers International agent Shane McIntyre secured the sale, without ever offering a price guide.
But he advised the cost to replicate could be argued to be commercially unjustifiable in today’s marketplace.
This article was first published in the Weekend Australian Mansion Australia property section.
</div></body></html>

The Freedman brothers Mornington Peninsula farm Markdel under offer

<html><body>
Justin and Dom Hind, co-founders of WiTH Collective digital advertising agency, have emerged as the $9 million buyers of the Watsons Bay home of Collette Dinnigan and Bradley Cocks.
It sold just hours before its first open inspection in October.
Ben Collier and Will Manning at McGrath Estate Agents had suggested an $8 million price guidance, so the revealed figure was certainly worth taking before hitting the wider market.
And think of the savings in filling every open for inspection with the freshest flowers from Grandiflora.
The mostly white four bedroom, five bathroom home has parquetry floors from an 18th century chateaux in France's Loire Valley.
Dinnigan gained $2.75 million during her 18 months ownership of the refurbished 1920s Masonic lodge which she'd bought from James Packer's right hand man, Matthew 'Ched' Csidei and his lawyer wife Lauren Roscoe.
Since their snappy acquisition, without any registered mortgage, the Hinds have sold their modernised P&amp;O-style 1930s Mosman home.
It fetched $5.9 million when sold last month to property developer Anthony Andreatta through McGrath agent Priscilla Schonell having been bought for $5.55 million 14 months earlier. 
<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/2016/12/12/8%20Gap%20Road.jpg" alt="">
Their digital consultancy, WiTH Collective, which was started six years ago and secured clients including Qantas, Fairfax Media and Optus, was sold in September to Dentsu Aegis Network, the second largest marketing communications agency group by billings in Asia-Pacific.
They have committed to remain for at least five years.
The fashion designer Collette Dinnigan and her hotelier husband Bradley Cocks quit the classic Beaux-Arts style contemporary home for life in Italy.
After selling their Careel Bay, Palm Beach retreat for $3.2 million to actor Sophie Lee and adman Anthony Freedman, Dinnigan still retains a South Coast retreat and commercial space in Paddington.
This article first appeared in the Sunday Telegraph
</body></html>

Collette Dinnigan's Watsons Bay home bought by digital advertising agency co-founders

<html><body>
GUEST OBSERVER
This year many Australian households will find themselves cut off from generous incentives paid for electricity they export into the grid from rooftop solar systems. 
Between September and December, state feed-in tariff (FiT) schemes in New South Wales, Victoria and South Australia will finish.
The FiTs applying to over 275,000 customers will drop from between 16 and 60 cents per kilowatt hour to between 5 and 7.2 cents per kWh.
In NSW, the replacement FiT won’t be mandatory, with retailers allowed to decide what they pay. Of course, many of those customers have already recouped their investment. 
Now that our rooftop solar industry has matured, we need to reconsider the purpose of FiTs and align them with our goals for the electricity system in the future.
<h2>Why pay solar households?</h2>
FiTs have been hugely important in getting the global solar industry to where it is now. Solar electricity costs have fallen to levels that were unimaginable just 10 years ago.
Governments have traditionally used FiTs to achieve a policy aim, such as increasing renewable energy production by bridging the gap between current costs of electricity and the cost of new sources. 
Australian states began to introduce mandated FiTs in 2008. There has never been a national FiT in Australia, and Queensland, NSW and the ACT no longer have mandated FiTs. However, many electricity retailers offer FiTs, even when not mandated by government. 
<a href="/images/2016/12/09/image-20161107-27908-bq13sc.png" target="_blank">Click to enlarge</a>
<h4><img src="/images/2016/12/09/image-20161107-27908-bq13sc.png" alt=""></h4>
<h4>Current state of feed-in tariffs in Australia for new customers. Authors</h4>
The costs of FiTs are recovered in different ways, depending on whether they are government-mandated or not, but ultimately they fall on all electricity consumers. As governments wind back mandated FiTs, it’s assumed that FiTs will be roughly cost-neutral. 
<h2>Have they worked?</h2>
Residential solar installations soared after the introduction of FiTs in 2008.
Installations quadrupled each year in Australia until 2012, leading to 11,600 jobs and the highest penetration of households with rooftop solar in the world.  
This boom stimulated a competitive solar market in which residential installation costs have plummeted (as you can see below).
Australia now enjoys some of the lowest installation costs for rooftop solar in the world.
The trick that state policymakers missed, however, was making FiT policies sustainable. 
Early FiTs were excessively high, especially in NSW and Queensland, causing policy fallout and sudden withdrawal.
This was partly because the rapid reduction in solar prices exceeded expectations.
For example, the NSW government was forced into a hasty reassessment of its 2010 policy in order to prevent a cost blowout after massively underestimating the level of uptake.
By October 2010, just 10 months after it began, the NSW gross FiT was slashed from 60 to 20 cents per kWh. The scheme was closed to new participants in April 2011. 
Across Australia most states cut or entirely removed FiTs within four years. Most current FiTs are now well below retail prices.
This means that customers are being encouraged to use as much as possible of their solar energy to power their own homes rather than exporting it to the grid.
This is one of the reasons why the system size for solar installations in Australia tends to be smaller than elsewhere.
The fallout from these unsustainable FiT policies has unfortunately polarised the national conversation about solar.
Hundreds of thousands of solar power system owners are facing bill shock as FiTs are withdrawn, while those who do not have solar have been told they are footing the bill for their neighbours’ systems.
Politicians have sought to capitalise on this discontent, by blaming solar tariffs for high electricity prices. In many states, the actual value of rooftop solar has been pushed out of the conversation.
<h2>The real value of solar</h2>
A recent Victorian report found that the value of solar energy depends on when electricity is fed into the grid.
Solar energy is more valuable when exported to the grid at times of peak demand. 
The report argued that the value of solar should account for the reduction in transmission losses (the losses associated with transporting electricity from large power plants over great distances) and environmental effects, primarily the reduction in greenhouse gases from displacing fossil fuel generation. 
Solar installations can potentially add value in other ways too. For example, installing battery storage along with solar systems may allow domestic solar systems to offer other network services such as frequency and voltage control. 
Encouragingly, since the report the Victorian government has bucked the national trend and announced a multi-rate FiT scheme. 
The scheme offers different rates for exporting during peak, shoulder and off-peak times.
It will also reward solar owners for the greenhouse gas offsets related to their system’s output.
The scheme is expected to raise FiTs from around 5c per kWh to an average of between 6.5c and 7c per kWh. 
<h2>What next?</h2>
Nationally, we need to refocus the conversation about the purpose and value of FiTs.
Having already established a world-leading solar industry, we need to ask what FiTs can do for us now and into the future. 
If we want our electricity system to take advantage of technological advances, such as battery storage, we need to repurpose our FiTs to reflect the benefits of these technologies.
The Victorian example is a great step forward, providing a mechanism where consumers can leverage Australia’s low installation costs to become players in a more competitive energy market. 
But there are even more benefits to distributed energy systems that could be realised with intelligently applied FiTs.
This means we need more consideration of what solar systems can do for us, and less simplistic conversations about electricity costs.
Joe Wyndham is research analyst, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/joe-wyndham-296652" target="_blank">here.</a>
Jay Rutovitz is research director, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/jay-rutovitz-301794" target="_blank">here</a>.
Both are authors for The Conversation.
</body></html>

To pay solar households fairly, we need to understand the true value of solar

<html><body>
Rosebud always has plenty of bathing boxes on offer.
Just last month $77,000 was paid for <a href="https://www.realestate.com.au/sold/property-house-vic-rosebud-122107510" target="_blank">box 159</a>.
The rather large box 188 sold in October this year at $99,000.
A beach box at Rosebud is now for sale for $39,950.
<a href="https://www.norrisre.com.au/index.cfm?pagecall=property&amp;propertyID=3039620&amp;realestate=97_Rosebud_Foreshore_ROSEBUD_VIC_3939" target="_blank">Located at 97 Rosebud Foreshore</a>, the property (pictured above) is directly opposite a hotel close to the Motor Boat Harbour.
The property is offered by Norris Real Estate agent Gary Clode.
The freshly painted Box 122 wants $90,000. 
There was a $20,000 in 2009 of box 97.
The colourful box 164 sold for $22,000 last year. In 2015 box 153 fetched $31,000.
</body></html>

Cheap Rosebud beachfront boxes for sale

<html><body>
The retired St Kilda champion Lenny Hayes sold his Brighton home at weekend auction, amid the bumper pre-Christmas auction rush where buyers lapped up the offerings.
Next Saturday sees record volumes for the near-final Saturday before Christmas, though at least one Sydney vendor will be trying their luck on December 24, Christmas Eve.  
<a href="https://www.realestate.com.au/sold/property-house-vic-brighton-124136314" target="_blank">Hayes’ three-bedroom house</a> fetched $2.901 million as five bidders competed for the 1920s offering that last sold at $2.25 million in 2010.
His former teammate Nick Riewoldt was spotted by Domain among the crowd who watched the property soar $200,000 above reserve through Kay &amp; Burton agent Michael Armstrong.
It was commonly viewed as a knock down on its 700 sq m block overlooking Elsternwick Park.
Hayes returned home to Sydney to join Greater Western Sydney as an assistant coach last year.
Melbourne's top sale was $5.1 million at 13 St Vincent Place, Albert Park. The five bedroom 1870s Belgrave Terrace fetched $600,000 above reserve price at its Marshall White auction.
It last sold at $900,000 in 1996.
The top sale across Australia was $5.6 million at Russell Lea in Sydney's inner west.
The waterfront reserve home was offered for the first time in 50 years, selling agent Adrian Sereni from Warwick Williams Real Estate said.
A two bedroom Thomastown villa in Melbourne's northern suburb was the nation's cheapest with Ray White securing $262,750.
The single storey unit with courtyard and covered carport last sold at $32,750 in 1982.
The block's previous highest sale was $250,000 in 2009 and its most recent was $240,000 in 2015.
”Auction activity does not appear to be slowing through the festive period, with auction numbers reaching the highest level since March earlier this year," CoreLogic's Kevin Brogan noted.
There were 3,411 auctions held, returning a preliminary clearance rate of 74.6 per cent, up from last week’s 72.3 per cent.
 <img src="/images/2016/12/12/Brighton.jpg" alt="">
It sits substantially higher than the equivalent period last year when it dipped during December to 58 per cent.
"The combined capitals clearance rate has been tracking above 70 per cent consistently over the past 20 weeks, with the clearance rate has been higher than 75 per cent over eleven of the past twenty week’s," Kevin Brogan noted.
The last time the combined capital city clearance rate was tracking over 70 per cent over the given period was in 2009.
Across Australia’s two largest markets in Sydney and Melbourne, clearance rates rose this week, with preliminary results showing 77.4 per cent and 80.2 per cent respectively.
Melbourne's preliminary auction clearance rate of 80.2 per cent came from the 1,683 auctions compared with the week prior when the final clearance rate tally was recorded at 77.3 per cent across 1,416 auctions.
"This time last year, 1,572 properties were taken to auction across Melbourne and a clearance rate of 64.9 per cent was recorded," he noted.
The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 337 and 214 auctions were held respectively.
Sydney’s preliminary clearance rate this week was 77.4 per cent across 922 auction results. There were a total of 1,157 auctions held across the city.
"This is higher than the corresponding week last year, when 891 auctions were held across Sydney and a clearance rate of 54.7 per cent was recorded."
North Sydney and Hornsby hosted the most auctions of any Sydney sub-region this week, with 177 properties taken to auction. 
There were 203 Brisbane auctions with a preliminary clearance rate of 48.1 per cent, higher than the 42.7 per cent recorded last week across 204 auctions, and also higher than one year ago when there were 180 auctions with a success rate of 41.9 per cent.
Adelaide recorded a clearance rate of 66 per cent across 151 auctions.
Perth’s preliminary clearance rate sat at 26 per cent.
Canberra’s preliminary auction clearance rate of 64.9 per cent this week is higher than last week, when the final auction clearance rate was 60.6 per cent and also higher than the 48.6 per cent recorded last year. 
Next Saturday, Melbourne will host more than 1000 auctions, which will be the highest final weekend offering for the city on record.
Domain's senior economist Dr Andrew Wilson says Sydney will host well over 600 auctions next Saturday, which is also the highest final weekend offering for the city on record.
The only known December 24 auction is at Leumeah.
</body></html>

Lenny Hayes' Brighton home sold amid pre-Christmas auction rush

<html><body>
<div>
The sale of Australian agricultural land, including cattle stations, hobby and commercial farms hit $16.79 billion in the year to August.
The Federal Treasurer Scott Morrison has now approved another big sale - the Kidman cattle empire for around $380 million to the syndicate of mining magnate Gina Rinehart and a Chinese company.
The sales process too around 20 months.
"I have decided that the acquisition of Kidman as proposed would not be contrary to the national interest and will be permitted to proceed," his statement advised.
It is the third attempt by Chinese interests to buy into Australia's largest private landholder with Mrs Rinehart's Hancock Prospecting to own 67 per cent of S Kidman and Co with partner Shanghai CRED .
Their joint-venture company Australian Outback Beef (AOB) acquistion will not include the defence-sensitive Anna Creek Station or The Peake which will be sold to a local South Australian grazier family.
The 117-year-old family company, founded by Sir Sidney Kidman, has pastoral leases covering 101,000 square kilometres across Western Australia, the Northern Territory, Queensland and South Australia.
In a video released by Hancock Prospecting, Mrs Rinehart said it was an "exciting day" as she had long wanted to diversify.
"Right now all our eggs are in the iron ore basket," <a href="https://www.youtube.com/watch?v=IfXPaWdDLOk" target="_blank">she said</a>.
"Now to become the third largest producer of cattle in Australia I think it's just great.
"I see an ongoing need for meat particularly in the Asina region and most of our cattle from Australia, three quarters, we export.
"And of course the value of the land over decades is going to keep increasing and increasing."
Hancock Prospecting CEO Gary Korte said the herd size will be increased from the current 150,000 head to its full carrying capacity of 185,000.
Agricultural property sales in NSW totalled $8.2 billion over the period, an increase of 3.8 per cent according to the Landmark Harcourts' quarterly Benchmark Report with some 12,519 agricultural property sales.
One of the biggest deals included the Deltroit Station in the Gundagai district of NSW when MH Premium Farms, the Australian agricultural operation of global fund manager Sir Michael Hintze, bought the 2573 hectare holding.
</div>
<div>
In Victoria the total value of agricultural property sales came in at $3.7 billion over the year, down 13.3 per cent on the total value of sales achieved in the 12 months to August last year.
</div>
<div>In Queensland, agricultural property sales totalled $1.7 billion over the year with lower volumes, though the value of sales was 3 per cent higher than the prior year.</div>
<div>
Queensland has has spring sales including cattleman Peter Hughes buying Tumbar station south of Jericho in central Queensland for about $57 million. In SA, the total value of agricultural sales was $964 million over the 12 months to August 2016, 14.5 per cent higher than the 12 months to August. 
In WA, the total value of the agricultural sales was $1.7 billion, 2.9 per cent  above the previous year.
</div>
<div>
In Tasmania, agricultural property sales totalled $526 million over the year, 9.5 per cent lower than the previous year.
</div>
</body></html>

Gina Rinehart secures Kidman cattle empire for $380 million

<html><body>
The Angus Wagyu cattle farm, Towal Creek Station Currently in the Macleay Valley in Northern NSW, sold for $4.9 million at auction last week.
<a href="https://www.realestate.com.au/sold/property-livestock-nsw-comara-7854422" target="_blank">The 2,305 ha Comara farm</a> is currently running a cattle herd of 700 female breeders.
The comes with renovated homestead and 6km frontage to the Macleay River.
There is a guest cottage and managers home.
It has a fully formed 900m airstrip at the Kempsey location.
It sold through Webster Nolan agent David Nolan.
Comara's top sale was $5 million in 2014 when the Huang family secured their North Coast grazing property from the Fernandes.
Comprising 5567 hectares (13,757ac), Comara Station overlooks Five Day Creek.
</body></html>

Towal Creek Station in the Macleay Valley sold

<html><body>
The former Coles boss John Fletcher and wife Noela have sold their luxury Mermaid Beach penthouse.
It sold at almost a $2 million loss as the Fletchers bought on Hedges Ave in 2007 for $6.7 million, just before the global financial crisis.
It sold last week to a Sydney buyer for $4.8 million through Tolemy Stevens, of Harcourts Coastal, who told the local newspaper, The Gold Coast Bulletin that it was "only 27 per cent away from the peak of the market in 2007.”
With sweeping views of the Coast, the two-level 758sq m four-bedroom skyhome at 701/252 has a rooftop terrace with a 15 metre lap pool and spa.
Mr Fletcher ran the supermarket giant from 2001 to 2007 before it was acquired by Wesfarmers.
He was appointed chairman of ports operator DP World Australia earlier this year.
<img src="/images/2016/12/12/702_252%20Hedges%20Avenue.jpg" alt="">
The block’s neighbouring 701/252 apartment sold in October for $5.4 million through Michael Kollosche, of Kollosche Prestige Agents.
Spanning across 743sq m, vendor Sandy Cowell had it listed for sale at $5.95 million in July.
It had traded at $4,485,000 in 2005.
</body></html>

John Fletcher sells Mermaid Beach penthouse at $2 million loss

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