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Actor Russell Crowe has quietly listed his Woolloomooloo Finger Wharf apartment as his matrimonial settlement with Danielle Spencer moves to its conclusion.
The vast harbourfront apartment has been an off market listing over the past month.
Already the buyer feedback is that it will be hard pressed to fetch the $25 million Australian apartment record, but Crowe is said to be realistic and wants it sold.
The Oscar-winning actor and Danielle were married in 2003 and separated in 2012. 
The home of Crowe and Danielle Spencer set a record apartment price in 2003 when it cost $14.35 million.
No other apartment comes close in size with some 1000-square-metre at the tip of the <a href="https://en.wikipedia.org/wiki/Finger_Wharf#/media/File:Woolloomooloo_Bay_Sydney.jpg" target="_blank">Finger Wharf</a>.
The offering includes a 35-metre marina berth and seven car spaces. 
Estate agent John McGrath, a former Sydney Boys High classmate of Crowe, has had select agents from his agency take buyers through over the past few weeks.
Buyers agents have been approached to present qualified buyers.
Crowe is only the second owner of the modern apartment on the tip of the heritage shipping wharf.
He bought it from the Nutrimetics founder Imelda Roche and her husband, the property developer husband Bill Roche.
The Roche's had bought it off the plan in 1998 for $9.8 million from the Walker Corporation.
Crowe previously owned the historic Elizabeth Bay residence Berthong, which he sold in 2003 for $11.5 million and which has been recently listed with $37 million to $40 million hopes. 
In 2011 Crowe and Spencer spent $10 million on the Rose Bay trophy home, Te Puke after a four-year search.
Along the way they inspected the $50 million-plus Altona on the harbour in Point Piper in 2007, as well as unsuccessfully seeking pricey inland residence Le Manoir at Bellevue Hill, which fetched $23 million in 2009.
Spencer was always keen to spend more on the family home, while Crowe, prefered to keep his substantial Woolloomooloo apartment as a bolthole and limit the purchase.
Te Puke, a 1909 house updated with a 1927 Arts and Crafts-style additions, has been Spencer's home since their separation four years ago.
Crowe retains his 320-hectare property in Nana Glen, near Coffs Harbour. 
The recent relationship Danielle has with her beau, Ad Long has triggered the decision to sell much of their property portfolio.
Crowe has also signalled he intends listing his Kingsford block of investment flats which have been the home of his former band members.
Crowe is expected to secure a Sydney base once the apartment is sold.
Before construction of the overseas passenger terminal at Circular Quay, the finger wharf was the main berth for overseas passenger liners.
It was rescued from demolition in 1991 after plans for a 440-berth marina were ditched.
Built between 1910 and 1914, the wharf, at 401 metres long, is the longest timber-piled wharf in the world.
This article first appeared in the Saturday Daily Telegraph
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jchancellor-FAypfDUnLy

Russell Crowe lists Woolloomooloo Finger Wharf apartment

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One of Brisbane oldest heritage homes, Silverwells North has sold for $4.675 million through Sothebys.
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Silverwells North, located at Kangaroo Point, was built in the 1860s for Sydney merchant Joseph Thompson.
The new owners are a local couple.
Set at 261 Main St, the semi-detached brick building was extensively restored by Waterford Properties in 2008.
Interior design group John Croft Design recently posted on <a href="https://www.instagram.com/p/BL8BvU8BnxO/?taken-by=johncroftdesign&amp;hl=en" target="_blank">Instagram </a>saying “Our clients have just purchased this beautiful historic property, we are very excited to be involved in making it their new home.”
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Silverwells North, Brisbane sold

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<img src="https://counter.theconversation.edu.au/content/68172/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
Droughts are a natural feature of the Australian environment. But the Millennium drought (or “Big Dry”), which ran from 1997 to 2010, was a wake-up call even by our parched standards. 
The Millennium drought had major social, economic and environmental impacts. It triggered water restrictions in major cities, and prompted severe reductions in irrigation allocations throughout the vast Murray-Darling Basin.
The Millennium drought also highlighted that, compared to the rest of the world, the impacts of drought on Australia’s society and economy are particularly severe. This is mainly because our water storage and supply systems were originally designed by European settlers who failed to plan for the huge variability in Australia’s climate.
<h2>Have we learned the lessons?</h2>
Are we likely to fare any better when the next Big Dry hits? It’s important to reflect on how much we actually understand drought in Australia, and what we might expect in the future.
Our study, part of the Australian Water and Energy Exchanges Initiative (OzEWEX), had two aims related to this question. The first was to document what is known and unknown about drought in Australia. The second aim was to establish how Australia’s scientists and engineers can best investigate those unknowns.
The fact is that despite their significance, droughts are generally still poorly understood. This makes it hard to come up with practical, effective strategies for dealing with them when they strike. 
One reason for this is that unlike natural hazards with more graphic and measurable impacts (such as floods, cyclones, and bushfires), droughts develop gradually over huge areas, and can last for years. Often they go unnoticed until they trigger widespread water or food shortages, or cause significant energy, economic, health or environmental issues. 
Drought has been described as a “creeping disaster”, because by the time a drought is identified, it is usually already well under way, the costs to fix it are mounting, and the opportunity to take proactive action has already been missed. 
This is complicated still further by the uncertainties around defining, monitoring and forecasting drought – including predicting when a drought will finally end. As in the case of other natural hazards (such as drought’s polar opposite, floods), what we need most is accurate and practically useful information on the likelihood, causes and consequences of droughts in particular areas. 
This is a very tricky question, not least because we still need to come up with a rigorous way to distinguish between correlation and causation. For example, are increased local temperatures a cause or a consequence of drought? 
The complications don’t end there. Because droughts are so much slower and bigger than other natural disasters, they therefore have much more complicated effects on agriculture, industry and society. Bushfires can be devastating, but they also offer ample opportunities to learn lessons for the next time. Droughts, in contrast, give us limited opportunities to learn how best to prepare. 
Yet prepare we must. Given Australia’s history of decades-long swings between wet and dry, and the fact that these swings are projected to grow even stronger, drought will be a key concern for Australia for a long time to come.
<h2>What to do next</h2>
We therefore make several recommendations to help boost our understanding and management of drought. 
1). Reconsider the way drought is defined and monitored to remove confusion between drought causes, impacts and risks. Similarly, there is also a need to better distinguish between drought, aridity, and water scarcity due to over-extractions. 
The simplest definition of “drought” is a deficit of water compared with normal conditions. But what is normal? How long does the deficit have to persist, and how severe does it need to be, to be considered a drought? What is meant by water: rainfall, snow, ice, streamflow, water in a storage reservoir, groundwater, soil moisture, or all of these? 
The answers to these questions depend very much on the local situation in terms of climate and water use, which varies significantly in space and time and is why the simplest definition of drought is insufficient. We need to develop drought definitions that clearly differentiate drought from long-term changes in aridity and water scarcity, and that capture drought start, duration, magnitude and spatial extent. Such definitions should account for the differences between Australia’s climate zones, the wide variety of end-users and applications of drought monitoring information, and the diversity of droughts that have occurred in the past. There needs to be a common understanding of what a drought is and the differences between drought, aridity and human-induced water scarcity.
2). Improve documentation of droughts that took place before weather records began, in roughly 1900. This will improve our understanding of Australia’s long-term “baseline” drought characteristics (that is, how bad can droughts get? how does the worst drought on record compare with the worst that has ever occurred?), and thus provide the fundamental information needed to successfully manage droughts. 
This requires compilation of longer-term and more spatially complete drought histories via the merging of palaeoclimate information with instrumental, satellite, and reanalysis data. This will help us better understand instrumental and pre-instrumental drought behaviour, and put the droughts observed in the instrumental record into context. This work will involve looking at ice cores, tree rings, different tree rings, cave deposits, corals, sediments and historical changes to river channels and floodplains.
3). Improve drought forecasting by developing more realistic models of the many factors that cause (or contribute to) drought. This will help us separate out the influences of natural variability and human-induced climate change, which in turn will help us make more accurate long-term projections.
If we can answer these big research questions, we will all be better prepared when the next big dry inevitably arrives.
Anthony Kiem is associate professor – Hydroclimatology, University of Newcastle and can be contacted <a href="https://theconversation.com/profiles/anthony-kiem-259458" target="_blank">here</a>.
Fiona Johnson is senior lecturer, School of Civil and Environmental Engineering, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/fiona-johnson-313721" target="_blank">here</a>.
Seth Westra is associate professor, School of Civil, Environmental and Mining Engineering, University of Adelaide and can be contacted <a href="https://theconversation.com/profiles/seth-westra-19720" target="_blank">here</a>.
All are authors for The Conversation.
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The lessons we need to learn to deal with the ‘creeping disaster’ of drought

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Durham Court, the Upper Namoi property held by seven generations of the Baldwin family, has been listed for sale.
The heritage landmark of the Manilla district is set for a November 30 auction through Purtle Plevey agents Patrick Purtle and Samuel Plevey.
Bidding is expected to exceed $2.5 million.
Listed for the first time, <a href="https://www.realestate.com.au/property-mixed+farming-nsw-manilla-7857750" target="_blank">Durham Court</a> has a grand, two-storey brick homestead dating from the 1870s on its 547 hectare land holding. 
It boasts six bedrooms, a formal lounge, dining rooms and staff quarters.
The house retains classic Victorian features such as cedar staircase and joinery, pressed-metal ceilings, marble fireplaces and fluted verandah columns.
When Otto Baldwin first settled in the early 1830s, the holding was around 80,000 hectares.
Originally named 'Diniwarindi', Otto settled when he and others were forced off their Liverpool Plains country when the 100,000 hectare 'Warrah' was given to the Australian Agricultural Company.
The name was changed to 'Durham Court' following the Crown Lands Act of 1884.
The Baldwin's were among the first to import breeding stock from Britain.
The subdivisions or the original station began in 1898 when 17 blocks were sold, followed by 50 more in 1908.
One of Manilla's most historic land holdings, Durham Court has most recently been run as Shorthorn cattle herd, currently number 200 breeders.
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Durham Court, Manilla district offered after seven generation ownership

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A dairy farm in Drouin has sold for $2.1 million.
Comprising 91 hectares, the property is divided into 41 two hectare paddocks, with a central laneway and water to all from a spring fed dam.
It currently milks up to 180 cows and features a hay shed and machinery shed.
The main homestead is a <a href="https://www.realestate.com.au/sold/property-lifestyle-vic-drouin+south-7651047" target="_blank">fully renovated three bedroom home</a> with a brand new kitchen and ensuite.
It was sold by Harcourts agent John Rowe after having initial $2.3 million hopes when first listed in 2014.
 
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Drouin dairy farm sells for $2.1 million

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Chef Shannon Bennett has sold a majority stake in his hospitality empire to Singapore's wealthiest family for around $15 million.
The deal with billionaire brothers Robert and Philip Ng involves a portfolio of the city's top eateries, including flagship restaurant Vue de Monde and the Burnham Beeches redevelopment project.
He will act as the culinary brand ambassador for what is tipped to be a substantial restaurant expansion into Asia and the United States by Golden Developments, a subsidiary of Far East Organization, Singapore's largest private property developer.
The deal did not include any freehold property.
Forbes magazine estimates the owners the Ng brothers' fortune at $8.7 billion.
The deal, which valued the Vue Group's at $22.5 million, has not been formally announced by either party but contained in documents lodged with the Australian Securities and Investment Commission, obtained by The Age.
Bennett, who retains a 35 per cent ownership stake in Vue Group, opened his first restaurant in 2000. The flagship Vue de Monde restaurant, on the 55th floor of the Rialto in 2011, regained its third hat at The Age Good Food Guide awards in September.
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Shannon Bennett takes on Singaporean partners

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Many home buyers and investors believe the length of time in the market is more important than the timing of the purchase when it comes to making a bigger profit on selling.
There is always a debate about which is more significant.
It was brought home to me in the dearest and cheapest sales last weekend across Sydney. 
An expatriate infrastructure guru sold his Mosman home - a six-bedroom Bradleys Head Road trophy home on 2244 sqm - for around $16 million.
It had set a non-waterfront record for the suburb when it last sold at $7.15 million in 2001, but not this time.
Having generated five percent annual price appreciation, I'd suggest while the quick bullish sale was noteworthy, its price had presumably plateaud for much of the 15 years.
Sydney's cheapest sale was at Harris Park where a two bedroom unit fetched $490,000. It had last sold in 2011 so the $200,000 sale price jump reflected 10 percent annual price growth.
Certainly an impressive gain with the time almost coinciding with the boom that began in 2012 and has continued to run, with a few brief, mild dips along the way.
Yet many stick to the theory of time in the market rather than timing the market.
Anyone can wait and hope as real estate will typically rise over time.
But more money can be made with less duress by investors understanding markets as to where to buy next and when.
Australia comes with very different state-based property market cycles that all have distinct patterns ranging from bottom of the market to the top. 
Sydney is currently a bit like the champion thoroughbred, Lord Fury who won the 1961 Melbourne Cup leading from start to finish.
But beware sometimes Sydney flounders.
Indeed Sydney withstood a challenge as the priciest capital city in which to buy property from Perth during the 2007 mining boom, then from our southern neighbour, Melbourne around 2012.
Today Perth resembles a property basketcase. If you followed the investor boom herd into Perth, then the past few years have shown how the property market can falter, and CoreLogic's head of research Tim Lawless says there no signs the marketplace was yet starting to level out.
Westpac, the nation’s second-biggest mortgage lender revealed this week that 90-day mortgage arrears in Western Australia had rocketed to more than double a year ago.
Overall Australian mortgage arrears of 90 days or more are up 21 basis points compared to 2015, but Perth is up 130 basis points.
Not that it is anything like the last recession as in a total loan book of 1.6 million mortgages, Westpac has only 262 houses in possession – equating to 0.02% of its portfolio.
Westpac chief executive Brian Hartzer said the flow-on impact from the collapse in the mining investment boom had forced the bank to step back from the state.
“We began winding back our exposure in WA a while ago ­because of concerns about what was happening in the mining sector, so although those percentages look relatively high they’re pretty small in the scheme of things in our book,” he said.
“This is being offset by continued low stable delinquencies in NSW where economic activity has been robust."
Many suburban markets across the capital cities typically perform without omnipresent boom-or-bust patterns. 
Of course if you’re canny you can make money no matter what the market is doing, but investors will always make more by running counter to the cycle. 
This article first appeared in the Saturday Daily Telegraph.
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Trick to timing and making a bigger profit when selling property

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Crowdfunding platform DomaCom is set to purchase a cattle property.
<a href="https://www.domacom.com.au" target="_blank">DomaCom</a>, which is listed on the Australian Securities Exchange, is a fractional investment platform allowing investors to own and trade shares or units in a property, whether residential, commercial or rural.
The company’s attempted bid for the vast Kidman saw about 4000 retail investors pool $60 million, but DomaCom withdrew after billionaire Gina Rinehart joined Shanghai CRED in a knockout $386.5 million offer.
DomaCom is set to secure farms price from $5 million to $12 million in the beef sector, DomaCom founder and chief executive Arthur Naoumidis said.
The company’s focus had been on residential having completed bookbuilds on 24 residential properties.
In its initial public offering, DomaCom raised $7.3 million from 500 investors with a market capitalisation of $37.6 million.
It had about $12 million under management before listing.
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DomaCom set to secure beef property

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A $9 million Toorak sale topped the nation's weekend auction sales.
Napier, the humble three bedroom offering attracted five bidders selling more than $2 million over reserve at its RT Edgar auction. 
The 870 sqm property at <a href="https://www.realestate.com.au/property/12-st-georges-rd-toorak-vic-3142" target="_blank">12 St Georges Road</a> (above) last sold at $1 million in 1995, reflecting 10 percent annual price growth.
It represented the first time $10,000 plus had been paid per square metre in Toorak, according to one buyers' agent in attendance.
Melbourne also had the nation's cheapest result when $250,000 was paid for a two bedroom Tullamarine villa.
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.52.12%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property-villa-vic-tullamarine-123865218" target="_blank">2/30 Banksia Grove</a> offering (above), currently a $270 a week rental, had $220,000 to $240,000 pre-auction price guidance.
Weekend auction clearance rates have again strengthened with Sydney still leading the pack.
The national capital city preliminary clearance rate increased this week from last week’s final of 73.6 percent to 77.5 percent, with auction volumes also showing an increasing trend over the week, according to CoreLogic.
There were 2,843 auctions held across the combined capital cities, up from 2,517 a week ago.
However volumes sit lower than the corresponding period last November when 3,274 auctions were reported.
"Late November and early December have historically shown the highest number of auctions," Kevin Brogan at CoreLogic said.
"As the number of auctions trends higher over the coming weeks, the larger stock levels will provide a timely test of the auction markets strength."
Melbourne’s preliminary clearance rate improved a tad as auction volumes increased over the week.
Preliminary results showed 77.2 percent of auctions were successful this week, up slightly from 76.1 percent last week.
There were 1,313 auctions held in Melbourne, up from the 927 reported last week; although lower than the 1,567 reported over the corresponding week last year.
The inner region of Melbourne had the highest number of auctions this week (257), with a preliminary clearance rate of 77 per cent. Melbourne's strongest clearance rate was recorded across the Outer East region and West region, with preliminary result showing 86 percent and 82 percent of auctions were successful.
In Sydney, 1,062 auctions were held this week, down slightly from 1,087 over the previous week.
The preliminary clearance rate of 84.2 per cent is up from this time last year, when a clearance rate of 58 percent was recorded across 1,223 auctions.
The Sutherland region recorded the strongest clearance rate of 95 percent across 54 auctions.
Sydney's auction strength saw results including a <a href="https://www.realestate.com.au/sold/property-warehouse-nsw-glebe-123848398" target="_blank">$1.69 million shed in Glebe</a> (below) sold with ­approval for a residential conversion.
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.53.56%20AM.png" alt="">
Selling agent Nicholas Katsikaros, of LJ Hooker Glebe, said about 35 contracts were issued for the 14 Reuss St property which was 272sq m in size.
A single storey, four-bedroom Chatswood home sold for more than $1 million above its reserve price when offered for the first time in 50 years.
Keen bidding from buyers of Chinese origin triggered the $5.3 million price for <a href="https://www.realestate.com.au/sold/property-house-nsw-chatswood-123860594" target="_blank">8 Havilah St</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.54.53%20AM.png" alt="">
It was a 556sq m block opposite Chatswood Chase shopping centre.
Sydney's highest sale when $6.2 million was paid in Greenwich for a <a href="https://www.realestate.com.au/property/4-bay-st-greenwich-nsw-2065" target="_blank">six bedroom home with boatshed</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.56.05%20AM.png" alt="">
It last sold in 1984 for $210,000.
It had been offered earlier this year with an $8 million asking price.
Canberra was the second strongest auction market at 83 percent, compared to 71 percent last week and 63 percent last year.
Prices in the national capital ranged from $370,000 at Holt for a three bedroom townhouse to $1.38 million for a five bedroom <a href="https://www.realestate.com.au/property-house-act-nicholls-123874450" target="_blank">Nicholls house, Il Palazzo</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.57.33%20AM.png" alt="">
There were 97 Canberra auctions held across the city, down from 117 last week and also lower than the 102 held at the same time last year
In Brisbane 191 auctions were held this week, compared to 198 auctions last year and 181 last week.
Some 53 per cent of auctions were sold, up from 50 per cent last week and also last year when 39 percent of Brisbane auctions were successful.
Australia’s richest woman Gina Rinehart has listed her redundant Brisbane riverfront in Chelmer for <a href="https://www.realestate.com.au/property-house-qld-chelmer-123875214" target="_blank">auction next weekend</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.58.30%20AM.png" alt="">
The modern Sutton St was bought in 2010 for $3.175 million. It was offered as a rental at $2000 per week in 2012.
Adelaide recorded a clearance rate of 68 percent across 129 auctions this week.
There were 42 Perth auctions with the preliminary clearance rate of 43 percent, up from 30 percent last week.
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$9 million Toorak sale tops weekend auction results

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GUEST OBSERVER
Sound neighbourly relations and an attractive streetscape have the potential to improve the value of a property and slash days on market considerably for those vendors seeking a swift sale.
The streetscape refers to the appearance of all houses, footpaths, gardens and landscaping along a street.
But it is possible to upset the local streetscape applecart with just a single property eyesore, which has the potential to turn away buyers now and in the future.
The infamous and so-called 'hoarder’s home' in Bondi, in Sydney’s Eastern Suburbs is an example.
This is an extreme example, however it has been an issue for those living in Boonara Avenue, Bondi for many, many years, and has undoubtedly impacted the values of homes located near this controversial property.
The streetscape is the visual identity of a neighbourhood and plays an important role in facilitating interaction between residents and creating a community.
It also contributes to building the value of our properties, which for many of us, are our most important investment asset.
The property industry talks ad infinitum about the importance of presenting a property in its best light to potential sellers.
However, a subtler element is how your street presents to potential buyers. The streetscape is really the first impression for potential buyers, even before they walk through the front gate.
To be fair, individual owners can do little about the collective streetscape, but the value of a good looking street, where all the gardens are well-tended, can have an impact on the saleability of a property.
It’s worth keeping in mind that by collectively maintaining the kerbside appeal of all properties in a street, owners can maintain and grow the values of their properties.
Angus Raine is executive chairman, Raine &amp; Horne and can be contacted <a href="https://www.raineandhorne.com.au" target="_blank">here</a>.
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Love thy neighbour – it could be worth tens of thousands to the value of your home: Angus Raine

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.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

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

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Jonathan Chancellor

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