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Despite the massive surge in property prices in Sydney’s West, the region is still home to the city’s most affordable rental apartments.
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Government statistics reveal median entry level one-bedroom weekly rents are as low as $280 a week.
That secures a one-bedder, mostly unrenovated, around Blacktown and Fairfield.
Carramar offers the cheapest two-bedroom median rentals at $300 a week, $20 less than Cabramatta at $320.
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 Postcode
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Median
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$
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<td> </td>
<td> </td>
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<td colspan="2">
                                                              Lowest 1 bedroom
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<td colspan="2"> </td>
<td> </td>
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2148 (Blacktown)
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<td colspan="2" width="66">
280
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<td> </td>
<td> </td>
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<td width="140">
2165 (Fairfield)
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<td colspan="2" width="66">
280
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<td> </td>
<td> </td>
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<td width="140">
2195 (Lakemba)
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<td colspan="2" width="66">
315
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<td> </td>
<td> </td>
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2145 (Greystanes)
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<td colspan="2" width="66">
320
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<td> </td>
<td> </td>
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<td width="140">
2144 (Auburn)
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<td colspan="2" width="66">
335
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<td> </td>
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                                                              Lowest 2 bedroom
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2163 (Carramar)
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<td colspan="2">
300
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<td> </td>
<td> </td>
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2166 (Cabramatta)
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<td colspan="2">
320
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<td> </td>
<td> </td>
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<td>
2165 (Fairfield)
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<td colspan="2">
350
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<td> </td>
<td> </td>
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<td>
2195 (Lakemba)
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<td colspan="2">
360
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<td> </td>
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2192 (Belmore)
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<td colspan="2">
370
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<td colspan="2"> </td>
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                                                             Highest 1 bedroom
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<td colspan="2"> </td>
<td> </td>
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2000 (Sydney)
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<td colspan="2">
630
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<td> </td>
<td> </td>
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2009 (Pyrmont)
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<td colspan="2">
600
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<td> </td>
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2039 (Rozelle)
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<td colspan="2">
600
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<td> </td>
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2022 (Bondi Junction)
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595
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<td> </td>
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2050 (Camperdown)
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<td colspan="2">
590
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<td colspan="2"> </td>
<td> </td>
<td> </td>
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                                                             Highest 2 bedroom
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<td colspan="2"> </td>
<td> </td>
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2000 (Sydney)
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<td colspan="2">
895
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<td> </td>
<td> </td>
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2027 (Darling Point)
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<td colspan="2">
798
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<td> </td>
<td> </td>
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2061 (Milsons Point)
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<td colspan="2">
798
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<td> </td>
<td> </td>
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2011 (Woolloomooloo)
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<td colspan="2">
795
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<td> </td>
<td> </td>
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2010 (Surry Hills)
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<td colspan="2">
780
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Anglicare Sydney’s recent rental affordability snapshot reviewed some 15,000 properties available on the first weekend of April and found only 76 were affordable and appropriate for households on income support payments without placing them in “rental stress”.
The NSW Fair Trading rental bond data shows the dearest one- and two-bedroom units for lease are all within proximity of the CBD.
The most expensive units have a median rent of $630 for a one-bedder and $895 for two bedrooms.
Two-bedroom tenants pay around $100 a week less in Darling Point and Milsons Point, where the median rent is $798.
Milsons Point leasing agent Andre Pang says new developments have meant rental prices have been steady.
The Rental Bond Board data will be released regularly on the Fair Trading website from later this year.
Victor Dominello, the Minister for Innovation and Better Regulation, says the open data initiative will allow renters and landlords to compare median rents across NSW.
“We are living in the digital age and open data can be utilised to empower communities and policymaking,” he said.
Lakemba is the third cheapest rental suburb according to the state government figures. The median rental for a one-bedroom Lakemba unit is $315 a week.
An as-new studio apartment near Lakemba train station is available at $290 per week, complete with kitchenette, ensuite and balcony.
Greystanes has median rental price for one-bedroom units at $320 a week.
Auburn is over $50 a week more expensive than Blacktown. Its one-bedroom median unit price is $335 a week.
There are only two two-bedroom properties up for rent on realestate.com.au in Carramar, and they’re both available at $300 a week.
The Rental Bond Board had 537,000 bonds held for the Greater Sydney area, where median rents rose 4.3 percent over the March quarter.
NSW Fair Trading the top 5 postcodes with the highest and lowest median rents (per week) in Sydney for apartments.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Blacktown and Fairfield offer Sydney's cheapest rentals

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The listed fund manager Argo Investments has become a substantial investor in the listed real estate group McGrath.
Argo, the second biggest investment company on the Australian Stock Exchange, has acquired just over a million McGrath Limited shares since April - paying between $1.10 and $1.20 a share – to take its stake to 5.02 per cent.
Argo, founded in 1946, is a is a long-term value investor with a market cap of almost $5 billion.
McGrath floated at $2.10 in December with its shares at $1.18 on Friday.
Founder John McGrath remains the biggest shareholder in McGrath Limited with almost 28 percent of the company. 
Shane Smollen, who sold his 10 McGrath franchised offices back to the company pre-IPO in exchange for cash and shares, has a 5.59 percent stake.
Its former chief operating officer Geoff Lucas owns more than 4 percent.
The investment manager and value investor, Perpetual owns around 13 percent.
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Argo secure 5 percent stake in McGrath

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The Singapore-based real estate crowdfunding specialist CoAssets has listed on the Australian Securities Exchange today. 
The company with an $85 million market capitalisation has raised $6.55 million at 40¢ a share ahead of the ASX listing. 
The peer-to-peer crowdfund facilitator specialises in funding of up to $5 million and has raised $S45 million ($43.7 million) in residential and small business projects since it started in 2013 in Singapore,
Operating mainly in south-east Asia, it is looking to replicate its business in Australia.
It anticipates demand for residential development funding after local banks clamped down on lending to smaller developers. 
CoAssets will provide $100,000 to $500,000 mezzanine funding for property developers.
It will charge 3 per cent to 5 per cent of total funds raised. 
CoAssets expects cost of funding and therefore return on investment to investors to be between 4 per cent and 15 per cent. Investors can invest as low as $1000. 
It was previously listed on the National Stock Exchange of Australia in 2015.
Its chief executive Getty Goh said it has five boutique Australian residential projects in its pipeline. 
CoAssets operates under an ASIC class order relating to business introduction services and provides financial products online through its Australian corporate representative, Melbourne Securities Corporation Limited.
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Crowdfunding CoAssets lists on ASX

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Businessman Dr Gary Weiss has been appointed to the Board of the Australian Rugby League Commission. 
ARL Chairman John Grant said Dr Weiss brought an impressive mix of business and sporting experience to the Commission. 
He said Dr Weiss who was educated in New Zealand and the US is well known and highly regarded in the corporate sector both in Australia and overseas. He is currently Chairman of Ridley Corporation and Secure Parking and is Executive Director of Ariadne Australia. 
He has served on the Boards of some of Australia’s leading companies including Westfield Group, Tower Australia, ClearView Wealth and Tyndall Australia. 
Dr Weiss also has a strong background and interest in rugby league. 
He was a director of Brisbane Broncos Ltd (formerly Pacific Sports Entertainment Ltd), an ASX-listed company which owns the Brisbane Broncos and was a member of the Roosters Chairman’s Club for more than two years. 
"He is his own man and will bring his intellect and experience to what is a robust but collaborative commission.
"He has a wealth of business experience and has indicated he has the time to devote to one of his keen interests in life, rugby league." 
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Veteran property player Gary Weiss appointed to ARL Commission

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Research on the last election results show seats with the higher numbers of property investors bucked the swing against the Turnbull government.
Analysis by Australian Demographic Strategies, headed by former Labor senator John Black, found seats with large number of investment property owners and people who were negatively geared “voted for the Coalition and swung far less towards the ALP”.
“When we ranked federal seats by per capita investment properties, the top four seats — Reid and Bennelong in NSW, Kooyong in Victoria and Curtin in WA — swung towards the Coalition by an average of 2 per cent, despite a ­national swing of 3 per cent to Labor,’’ ADS reported in an article in The Australian.
“The bottom five seats for per capita investment properties — Bass and Lyons in Tasmania, Macarthur and Chifley in NSW and Blair in Queensland — swung an average of 7.5 percent to the ALP.’’
Treatment of investment property was a significant policy difference between the Coalition and Labor at the July 2 Federal election.
Bill Shorten proposed to limit negative gearing to new properties from July 1 next year and cut the capital gains tax discount from 50 per cent to 25 per cent.
Malcolm Turnbull argued that Labor policy would "smash" property prices and deter investment.
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Labor's negative gearing policy helped keep it from office: research

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The 40 hectare Bowral estate, Carinya, home to horse breeders Luke and Sally Kean, who was a former dressage champion, has been sold to the Chiba family for $4.8 million.
The stables have since been expended significantly to create a base for their European Dressage Horses business, including a stable complex designed by architect Ken Latona.
An Olympic-size covered dressage arena, fencing, vet and quarantine facilities and separate accommodation have also been added.
The main residence has also been extended and now comes with a heated swimming pool and tennis court.
The couple have five children decided to scale down locally to something more manageable.
The listing came on at $5.5 million.
Luke Kean, general manager at YourShare Financial Services, and Sally Latona, a former state dressage champion, bought Carinya, in 2008 for $4.4 million from liquor store owners John and Penny Lawless.
The Keans were the buyers of Ripley, the six-bedroom French farmhouse at Burradoo.
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Carinya, the rural Bowral estate sells at $4.8 million

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GUEST OBSERVER
Over 90 new strata laws will come into play later this year and of the 90 these are some changes that will most likely make a difference to your everyday.
1. Parking 
Owners corporations will be able to reach agreements with local councils to allow parking officers into their schemes to issue fines to rogue parkers. 
Not only rogue parkers but residents who park over the lines of their parking spaces on to common property or leave their cars in visitor parking (however briefly) could also be ticketed. 
2. Fines
Almost all fines will be paid to the owners corporation, but this won’t be a cash cow for over-zealous committees; they still have to go through the same tribunal process. 
3. Short term rental
Owners corporations can now set limits on the number of people allowed to live in an apartment provided the upper limit is no less than two adults for each bedroom. Failure to abide by this law could result in fines from $11,000 to 22,000.  
4. Smoke 
Simply, an owners corporation can make a strata by-law banning smoking throughout an entire strata building. Orders can also be made against residents who smoke or allow their cigarette or barbeque smoke to drift into other units and landlords can be held liable to their tenants for second hand smoke exposure. 
5. Pets 
The new strata by-laws will not remove a scheme’s ability to make its own rules about pets. However, if the new model by-law is adopted, the request to keep a pet cannot be unreasonably refused. If the owners believe approval was unreasonably withheld, they can apply to the Tribunal. 
6. Renovations
New rules mean hanging pictures; coat hooks and filling cracks can go ahead while “minor alterations” – such as kitchen or bathroom renovations, installing timber or tile floors and replacing wiring or power points no longer need a special resolution by-law. But be aware there are other laws that allow owners corporations to charge owners for any damage caused to common property.  
7. Levies 
Owners corporations will be able to get compensation if a developer promised unrealistic low levies at time of sale. By the time the owners have to pay the actual bills for services, the developer is out of the picture. Now owners can pursue them for compensation through the tribunal (NCAT). 
8. Strata contracts
Strata manager contracts will be limited to one year in the first year of a building’s life and three years thereafter. The one-year initial contract gives strata manager’s ample time to prove themselves to the committee … or otherwise. The subsequent three-year contracts allow owners corps to change strata managers more easily if the relationship isn’t working out.  
9. Votes 
The biggest technological changes in our lives have been in communication. Voting electronically, via Skype calls, by email and even good old-fashioned snail mail will be introduced. 
10. Tenants
Tenants now have a right under the new laws and will be able to attend owners corporation meetings, no matter how many of the lots are tenanted in their scheme. They may vote if they hold a proxy (giving them voting rights on a lot owner’s behalf). 
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Adrian Mueller, is senior lawyer at J.S Mueller &amp; Co and can be contacted <a href="https://muellers.com.au" target="_blank">here</a>. 
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Property 101: Top 10 NSW strata law changes in November 2016

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<img src="https://counter.theconversation.edu.au/content/63499/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
More than 25,000 delegates will meet in Quito, Ecuador, in October to set out the United Nations' New Urban Agenda for member states.
The Habitat III conference will mandate the UN’s work in cities and settlements for the next 20 years. But Australia, one of the world’s most urbanised nations, is yet to play a major role in negotiations.
If you haven’t heard of the Habitat conference series, you’re not alone. Steered by one of the UN’s smaller organisations – UN-Habitat – it is the key negotiation process within the UN for planning the development of cities and human settlements.
Unlike the annual “Conference of the Parties” held by the United Nations Framework Convention on Climate Change, these events take place only once every 20 years. The Habitat conference has been held twice previously: in Istanbul in 1996, and in Vancouver in 1976.
Since then, humanity has crossed an urbanisation milestone. Half the world’s population now lives in cities. At the time of Habitat I, just over one-third were urban dwellers. Habitat III and the New Urban Agenda therefore represents a watershed moment for urban development globally.
<h2>Setting the New Urban Agenda</h2>
The 1996 Habitat Agenda called for sustainable development and access to adequate shelter. These goals have driven progress in many places. For instance, provision of adequate housing is now included in many national constitutions.
The Habitat Agenda also formed a platform for the Millennium Development Goals (MDGs), agreed in 2000. The MDGs expired in 2015 and were superseded by the Sustainable Development Goals (SDGs). These goals lie at the centre of the UN’s 2030 Agenda for Sustainable Development.
Habitat III, unlike Habitat II, builds out of these targets, not the other way around. The New Urban Agenda is therefore aiming to implement these goals in cities, particularly SDG 11: to “make cities and human settlements inclusive, safe, resilient and sustainable”. 
The current version of the agenda, the “zero draft”, was released at the end of July 2016, having undergone a series of revisions at preparatory negotiations. Unusually for the UN, this included direct feedback from civil society and other stakeholders, following public release of the draft.
The draft New Urban Agenda recognises that decisions about how we house, feed and mobilise urban populations will have a critical impact on human wellbeing and sustainability. Key focus areas include guiding national urban policies and systems of urban governance. The draft also has a strong emphasis on citizen participation and democratic processes.
What sets the agenda apart from its predecessors is the elevation of pressing global issues, such as urban informality, gender equity and disaster and climate resilience. It also recognises cities as drivers of economic and social development.
It is estimated that 70% of global economic activity is in cities. Cities also account for more than 70% of greenhouse gas emissions. The agenda will therefore be critical in achieving the COP21 targets agreed in Paris last year.
The current draft is not without controversy. Inclusion of the “Right to the City” has already stalled talks. And the future role of UN-Habitat is being hotly contested.
In its current form, the agenda redefines informal settlements and sectors as assets with the capacity to promote economic growth. It also recognises the right to equal access to jobs, urban infrastructure and affordable housing, emphasising design, participation and empowerment in meeting the challenges of informal settlements.
The key challenge for the New Urban Agenda will be distributing implementation to the thousands of cities that need development assistance across the world. Crucially, it is unclear who will monitor and evaluate progress, and how.
<h2>Australia missing in action</h2>
Unlike the Paris Agreement, the New Urban Agenda is not intended to be a legally binding document. Instead, it aims to provide guidance to member states and UN agencies. However, several nations are yet to engage with the Habitat III process, either through preparatory meetings or by submitting country-level urban reports.
The Australian government has so far been absent from the Habitat III process. In regional thematic meetings the Australian chair has remained empty, despite our heavily urbanised population, regional investment in urban development, and urban policy expertise.
The agenda represents a key opportunity to reflect on Australia’s role in engaging with pressing urban development questions at home and abroad.
Establishment of Australia’s first minister for cities by the Turnbull government in 2015 was seen as a strong platform for redefining an Australian national urban policy. However, the portfolio was short-lived, being downgraded to an assistant ministry six months later.
Australian cities face many challenges associated with sustainability and population growth. These include housing affordability and deficits in provision of essential infrastructure and services.
Stronger federal government leadership on national and international urban policy could promote economic prosperity and the sustainability of urban settlements at home. It could also improve Australia’s ability to engage with our Asia-Pacific neighbours on shared urban challenges, such as urban migration, the health and social impacts of climate change, and managing environmental resources for current and future generations.
More than 30 representatives of Australian non-governmental organisations, municipalities, peak bodies and universities are registered to attend Habitat III. However, it is not yet clear whether the government will be participating in the Quito negotiations.
Despite its challenges, the New Urban Agenda is persuasive. It will inspire urban actors to champion its cause and drive its implementation. It will undoubtedly be used to frame funding policies of important bodies like the UN Development Program, the World Bank and Asian Development Bank.
Fulfilling our UN member state role in Habitat III is an opportunity not to be missed. Through Quito, we can reinvigorate our national urban policy, build our regional profile and leverage and export our urban expertise. But, more importantly, by taking our seat at the table we will be playing our part in the transition of humanity into a sustainable, urbanised world.
Hayley Henderson is PhD Candidate in Urban Planning, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/hayley-henderson-288490" target="_blank">here</a>.
Alexei Trundle is PhD Candidate, Australian-German Climate &amp; Energy College, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/alexei-trundle-11956" target="_blank">here</a>
André Stephan is postdoctoral research fellow, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/andre-stephan-14991" target="_blank">here</a>.
Hesam Kamalipour is PhD candidate and research assistant in Urban Design, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/hesam-kamalipour-288498" target="_blank">here</a>.
Melanie Lowe is research fellow, McCaughey VicHealth Community Wellbeing Unit, Melbourne School of Population and Global Health, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/melanie-lowe-288493" target="_blank">here</a>.
All are authors for The Conversation.
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Habitat III: the biggest conference you’ve probably never heard of

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GUEST OBSERVER
Last week saw a slew of economic data released in the US, Australia, and China.
Perhaps the most carefully watched was the US employment report, showing that the US economy added 151,000 jobs last month, leaving the unemployment rate unchanged at 4.9 percent.
This was a solid, not stellar result. But interestingly, the August report is notorious for being revised upward in later months. So the final number could come in higher if recent history is a guide.
The reason the jobs number was so closely watched was because many people – including yours truly – thought that another 250,000-ish gain would lead the Fed to a 25 basis point rate hike at their next meeting. That move by the Fed is still definitely possible, but the news lowered the odds a bit.
In another positive signal about the US economic recovery, the Conference Board’s consumer-confidence index rose to 101.1 in August, up from 96.7 in July.
Also positive was the Australian business investment plans for 2016-17. It beat expectations at $105 billion, although still down nearly 10% on the prior year.
ABS figures revealed a sharp jump in apartment approvals, with the July figure coming in at 11,393 – more than 15% higher than the previous year. This helped offset the 3% year-on-year decline in housing approvals. Still, apartment approvals in particular are lumpy, so it’s dangerous to read too much in to one month’s number.
On the less positive side, Australian retail trade figures were flat in July, putting the year-on-year increase at a modest 2.7%. This is on the back of just a 0.1% rise in June.
There was good news out of China, with the manufacturing Purchasing Managers' Index (PMI) up to 50.4, the best result since October 2014, and up from 50.0 the months before, also beating market expectations.
All in all this was a fairly positive week for global economies (especially if you forget about the basket case which is Europe).
There will be a good deal of central-bank watching over coming weeks, though. Philip Lowe takes over as governor of the RBA, and Guy Debelle was announced as his deputy – an excellent choice.
September 20-21 is the Fed’s Open Market Committee’s (FOMC) next meeting, which will be telling about the future path of interest rates – both in the US and Australia.
If the Fed hikes that will put downward pressure on the Australian dollar. The RBA seems uncomfortable with the current level of the local unit, and they would probably welcome a weakening, which would give them more wiggle room on their own cash rate.
And although it wasn’t “data” exactly, Prime Minister Malcolm Turbull recently reminded us of the benefits of free trade, in the leadup to the G20 Summit in Hangkhou. His admonition that “One important way in which the G20 summit can promote open trade policies is by assisting members to do a better job of measuring and communicating the benefits,” is well taken as populism seems increasingly the political order of the day around the world.
At least one piece of positive news surrounded the event, with China and the US ratifying the Paris climate deal on the eve of the summit.
Action on climate change and a boost for free trade would make for a very successful summit. Let’s hope our PM supports the former, not just the latter.
Richard Holden is professor of Economics and PLuS Alliance Fellow, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">here</a>.
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All eyes on the central bankers

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A record price was set for a Surry Hills, inner Sydney warehouse at weekend auction when purchased by North Shore buyers.
It fetched $7.95 million some $400,000 higher than the $7.45 million prior top price.
The weekend buyer secured a 780-square-metre four-bedroom three-level warehouse in Bennett Place, a mid-19th century building that had undergone a transformation by designers Hare &amp; Klein (above).
The space came with a four-car garage, artist’s studio, plus plenty of open-plan living areas with lofty ceiling and industrial throwbacks. 
The Bennett Place warehouse previously held the suburb record the last two times it traded, for $5.71 million in 2012 and then $3.1 million in 2009. Not sure it was a record price when it was sold at $350,000 in 1991.
Artist Melinda Marshman and medico husband, David sold the warehouse which sits on the Marshall Street corner having bought it for $5.71 million in 2012 when bought from sculptor Gaby Porter.
The 1870 building, first recorded in Sands Directory as being a carriage and livery stable, has 760 square metres of floor space.
The earlier record stood since last year at $7.55 million, when Mark Ainsworth bought the nearby one with a distinctive heart-shaped pool.
It ranks among the more authentic of the warehouses of Surry Hills that once housed the city’s rag-trade industry. 
The $7.55 million sale last year secured a heart-shaped pool as the centrepiece of 450-square-metre converted warehouse once owned by Stuart Membery. 
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Surry Hills warehouse among the weekend auction top sales

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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