Applications are now open for eligible commercial and residential landowners who provide rental reductions to tenants in financial distress due to COVID-19 to claim land tax relief or a tenancy support payment as part of a suite of measures introduced by the NSW Government to help reduce the stress and financial burden of COVID-19 restrictions.

Minister for Finance and Small Business Damien Tudehope said the land tax relief and tenancy support payments are designed to make it easier for landowners to support their tenants during this challenging time.

“Many renters, commercial and residential, are doing it tough right now, with reduced turnover or work hours due to the COVID-19 restrictions,” Mr Tudehope said.

“We’ve heard from landowners that they would like to help their tenants, but they also have bills to pay. 

“This new package follows a similar land tax relief program which ran from May 2020 to May 2021, which saw more than 17,200 applications received and $186 million of relief provided to date.”

Minister for Better Regulation and Innovation Kevin Anderson said residential landlords can choose between applying for land tax relief or a payment of up to $1,500 per tenancy if they agree to reduce the rent for COVID-19 impacted tenants from 14 July 2021 to 31 December 2021. 

Extra staff have been engaged to assist with the high volume of applications.

Eligible NSW landowners may receive a reduction of up to 100 per cent of their land tax liability for 2021. Residential landowners can receive the land tax relief or, may elect to claim a payment of up to $1,500 per tenancy agreement if they provided a reduction in rent from 14 July 2021 to 31 December 2021, to a residential tenant who has lost 25 per cent or more of household income due to COVID-19.

To be eligible for land tax relief, landowners must be leasing to a commercial tenant who has an annual turnover up to $50 million and is eligible for either the 2021 COVID-19 Business Grant, JobSaver or the COVID-19 Micro-business Grant, or leasing to a residential tenant who has lost 25 per cent or more of household income due to COVID-19. 

The landowner must have reduced rent for the affected tenant by at least the amount being claimed for any period between 1 July 2021 and 31 December 2021. Both commercial and residential landowners cannot require their tenants to repay the reduced rent they claim through the rebates. 

Applications for land tax relief can be submitted at: https://www.service.nsw.gov.au/transaction/apply-covid-19-land-tax-relief
 
Applications for residential tenancy support can be made at: https://www.service.nsw.gov.au/transaction/apply-residential-tenancy-support-payment

Eligible NSW landowners may receive a reduction of up to 100 per cent of their land tax liability for 2021

jchancellor-FAypfDUnLy

Covid land tax relief on offer for NSW landlords

Unoccupied construction sites across Greater Sydney, including the Central Coast, Blue Mountains, Wollongong and Shellharbour, will operate at 50 per cent capacity from Wednesday with enhanced COVID safe measures.

More construction sites will resume work with new worksite capacity limits and the introduction of minimum vaccination requirements for workers from the eight affected local government areas (LGAs) including Blacktown, Campbelltown, Canterbury-Bankstown, Cumberland, Fairfield, Georges River, Liverpool and Parramatta.

Construction workers from the affected LGAs will be added to the list of authorised workers allowing them to work on unoccupied construction sites in Greater Sydney if they meet the vaccination conditions.

The executive director of the NSW Master Builders, Brian Seidler estimated around 75,000 of 220,000 frontline construction workers in Sydney reside in the eight locked-out council areas.

To work construction workers from affected LGAs must provide evidence that they have received:

&middot; &nbsp; &nbsp; &nbsp; two doses of a COVID-19 vaccine, or

&middot; &nbsp; &nbsp; &nbsp; one dose of a COVID-19 vaccine at least three weeks before attending work, or

&middot; &nbsp; &nbsp; &nbsp; one dose of a COVID-19 vaccine and, if less than three weeks since that vaccine was administered, a negative COVID-19 test in the previous 72 hours.&nbsp;

NSW is currently trialling rapid antigen testing and when approved by NSW Health, that form of testing may be used as an alternative to a negative PCR test.

 
The Property Council of Australia welcomed the NSW Government&rsquo;s framework to allow more construction sites across Greater Sydney to re-open as of August 11.

The construction sector had been authorised to restart from late July after a two-week shut down, but it emerged many sites could not resume given the absence of Western Sydney workers.

It was reported Aland warned that more than $950 million of development and 1450 dwellings were in limbo given the targeted restrictions on movement.

Some of the state&#39;s most significant projects remained closed or struggling to get an adequate workforce.

The Western Sydney Airport, Paramatta light rail and the fastest-growing commercial centre outside of a capital city in the country can all safely restart works under this plan. 
&nbsp; 
&ldquo;This gives us a clear platform for how industries safely reopen with a vaccine-led solution,&quot; acting NSW executive director of the Property Council of Australia, Lauren Conceicao, said.

<a href="/developments/sydney-nsw?source_news_article_id=107913&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_sydneycbd_6.png" width="1200" /></a> 
&nbsp; 
Construction workers would be able to leave locked down LGAs for work under this new plan, subject to being vaccinated. 
&nbsp; 
Those with just one vaccine will continue to be subject to regular negative test results.&nbsp;

&quot;For workers double vaccinated, a vaccination certificate that can be saved on their phone will become their green tick to work,&rdquo; she said. 
&nbsp; 
Next Sunday construction workers will be able to attend Super Sunday at Sydney Olympic Park vaccination centre for construction vaccination day.

Almost 50 percent of NSW housing is being built in the region.

Construction workers would be able to leave locked down Sydney LGAs for work under the new plan

More Sydney construction workers given prospect of return to work

The South Australian masterplanned community Riverlea has brought forward development of its retail and homemakers precinct by two years given strong house and land sales.

Stage one of the 80,000 sqm retail centre is now expected to start in early 2022.

Just 35 minutes’ drive from the Adelaide CBD, Riverlea will have over 12,000 homes for 30,000 residents. 

Stage one is on track for completion early September with first residents ready to move in next year.

The $3 billion project is being by Walker Corporation.

Its executive chairman Lang Walker said "Adelaide has fallen in love with his Riverlea vision."

"The speed in which lots are being sold is phenomenal," he said.

“I want Riverlea to be my signature statement and an incredible place which will be revered in South Australia,” Mr Walker said.

Over 240 house and land lots have been sold with hundreds of families on the waitlist for its next releases.

Riverlea offers a long-term solution to the rapid population growth expected in Adelaide’s North West, anticipated to climb by 26,000 over the next decade.

Riverlea will have four retail shopping precincts.

Just 35 minutes’ drive from the Adelaide CBD, Riverlea will create over 12,000 homes for 30,000 residents

Walker Corp brings forward retail project at Riverlea master planned community outside Adelaide

The top apartment sale last week in Queensland was $2,925,000 at Kirra Beach in the Nirvana by the Sea complex.

The four bedroom, four bathroom apartment was at 1005/1 Douglas Street.

It was lasted sold at $1.7 million in 2011.

The 10th floor offering has 300sqm of living space.

It is set up as three bedrooms, plus an office.

The apartment has two parking spaces.

<a href="/developments/gold-coast-qld?source_news_article_id=107880&amp;ref=news_body_link"><img alt="" height="797" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gc_newest_tile_jpeg_26.jpg" width="1200" /></a>

It was offered fully furnished through Real Specialists agent Wayne Bisgrove.

Con Nikiforides&#39; Niecon Developments developed the project which was designed by Melbourne-based O1A, with the interior designs by Gold Coast architects DBI.

The $125 million 15-level tower comprised 69 apartments sitting above nine street-level strata-title retail tenancies.

More than 75 per cent of the units, priced from $845,000 to $2.95 million, had sold off the plan, by the time of its mid-2009 completion.

Recent off the plan projects have seen strong sales success including the Miles Residences Kirra Point which will be completed in 2023.

The glass-swathed tower is being developed by the family-run KTQ group.

The top apartment sale last week in Queensland was at Kirra Beach

$2.9 million Niecon-built Kirra Beach Coolangatta apartment sale tops Queensland sales

Melbourne apartment and townhouse vendors secured a 68 percent success rate at weekend auctions.

Melbourne&#39;s clearance rate was well up on the prior weekend&#39;s 57 percent success rate.

The Melbourne median apartment/townhouse sale sat $698,000 from its 153 sales, with 53 results yet to be tabulated by Corelogic.

Its top sale was a three bedroom, three bathroom Hawthorn townhouse that fetched $1.6 million at 9/1 Muir St in the Yarra-Bank complex.

<a href="/developments/melbourne-vic?source_news_article_id=107879&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_13.jpg" width="1200" /></a>

Its Kay &amp; Burton/Noel Jones conjunctional price guide had been $1.35 million to $1.485 million.

The three storey townhouse last traded at $915,000 in 2009.

It was Millennium Properties&rsquo; first project in 1996, as a partner with Salta Properties on the $20 million development with 28 townhouses.

Millennium Properties Pty Ltd was established in 1996 as a 50/50 joint venture between Salta Properties and Psaltis Ryobi Group Pty Ltd.

Sam Tarascio Snr and Nick Psaltis commenced their association in 1985 on the Victorian Transport Centre (VTC) project which Salta was developing in Somerton, Victoria.&nbsp;

The Millennium Properties website lists its latest project as Galada Gardens, Barry Road, Thomastown in the Whittlesea district following the rezoning of a 12 hectare site. 
&nbsp;

The three storey townhouse last traded at $915,000 in 2009.

1990s Millennium Properties Hawthorn townhouse tops weekend auction sales

Apartment vendors secured a 73 strong percent success rate across 419 weekend auctions across the capital cities.

According to CoreLogic there was an $769,000 median price for apartments/townhouses. 

There were 338 national results, with some 81 results yet to be advised.

Houses saw a 77 percent success rate, so it was the narrowest gap between the two asset classes in many months.

Sydney was the strongest apartment market with an 83 percent preliminary success rate, with a $992,000 median price. Sydney apartmnents were more popular than houses which saw a 79 percent success rate.

There were 161 Sydney listings of apartments and townhouses.

A Wollstonecraft sale through McGrath Estate Agents at $1,820,000 sale topped the weekend's sales in Sydney.

The two bedroom 2/46 Morton Street offering, with pool on title, had last traded at $725,000 in 2012 and for $160,000 in 1987.

The garden apartment was built in 1977, a five-minute walk to buses and 10 minutes to trains.

Melbourne saw a 68 per cent success rate, well up on the prior weekend's 57 percent success rate.

The Melbourne median apartment/townhouse sale was with a $698,000 median from its 153 sales, with 53 results yet to be tabulated.

Its top sale was a three bedroom, three bathroom Hawthorn townhouse that fetched $1.6 million at 9/1 Muir St in the Yarra Bank complex.

Its Kay & Burton/Noel Jones price guide had been $1.35 million to $1.485 million.

The three storey townhouse last traded at $915,000 in 2009.

It was Millennium Properties’ first project in 1996, as a partner in a joint venture with Salta Properties on the development.

Brisbane had a 46 percent success rate from 20 auction offerings.

Sydney apartment listings outperformed houses at weekend online auctions

Strong weekend apartment auction clearance rate amid lockdowns 

Households and businesses have showed remarkable resilience and an ability to change how they do things, according to the RBA governor Dr Philip Lowe.

"It is a positive story," Dr Lowe's opening Statement to the House of Representatives Standing Committee on Economics advised

But he did note as a rough rule of thumb, household consumption in areas that are locked down is typically around 15 per cent lower than it would be otherwise. 

"The lockdowns have directly affected construction activity in NSW and delayed some investment plans. 

"Some increase in the unemployment rate is also expected over the months ahead, although most of the adjustment in the labour market is likely to be through declines in hours worked and participation, rather than in job losses.

"As we assess the impact of the lockdowns on the economy, it is important not to lose sight of the fact that not all of Australia is affected. 

"Significant parts of the Australian economy are still on the positive trajectory that was in place before the recent outbreaks. 

"This is quite different from the situation in the first half of last year, when the whole of Australia was in lockdown. 

"So, it is a mixed picture," he said adding that the economy is expected to bounce back quickly once the restrictions ease.

"Our central scenario is that the economy will return to strong growth in 2022, with GDP increasing by a little over 4 per cent, to be followed by growth of around 2½ per cent in 2023.

"In this scenario, the unemployment rate resumes its downward path to reach around 4¼ per cent by the end of next year and 4 per cent the following year.

"If we are successful in containing the virus over the months ahead, it is possible there will be stronger upswings in both investment and consumption than envisaged in our central scenario."

As a rough rule of thumb, household consumption in areas that are locked down is typically around 15 per cent lower than it would be otherwise, according to the RBA

Lockdown household consumption down 15 per cent: RBA

A residential development opportunity on Chevron Island on the Gold Coast has been listed for sale.&nbsp;

The 25-29 Mawarra Street site is an amalgamation of three residential properties.

It is a 1,517sqm site. &nbsp;&nbsp;

CBRE Gold Coast agent Mark Witheriff said the approval was for a north-facing apartment building that will feature coastline, canal and hinterland views.

&ldquo;Reinforcing the desirability of this opportunity is the urban island&rsquo;s connection via the Green Bridge to the 16.9ha HOTA Precinct that includes the architecturally designed HOTA Gallery, outdoor stage and concert lawn, cinema, caf&eacute;, restaurant and a rooftop bar,&rdquo; Mr Witheriff added.

[smartcode_project:default project_id=6515 project_image_fid=68834]

The Mawarra Street site comes with an existing development approval for 105 one, two- and three-bedroom apartments.

The proposed building includes luxury rooftop amenities with a pool, gymnasium and BBQ area featuring sunken lounges and multiple dining areas, all facing the ocean and the Surfers Paradise skyline. &nbsp; &nbsp; &nbsp;&nbsp;

The expressions of interest campaign closes September 2.

Chevron Island is seeing very strong apartment sales for its off the plan offerings including at Chevron One at 36-44 Stanhill Drive, Surfers Paradise.

The Mawarra Street site has an existing development approval for 105 one, two- and three-bedroom apartments.

Chevron Island's apartment development pipeline to continue

Some 20,000 customers have received hardship assistance during recent lockdowns.

It includes more than 14,500 home loans being deferred, according to data released by the Australian Banking Association.

More than 600 business loans have also been deferred. 

The ANZ recently advised that NSW borrowers accounted for three-quarters of the requests it is getting for help with mortgages.

Comparatively, during the peak of the crisis in 2020, almost 500,000 home loans and more than 225,000 business loans were deferred.

The latest data on consumer confidence, unemployment, spending and savings, and home loan deferrals has prompted both Treasurer Josh Frydenberg and Prime Minister Scott Morrison to express confidence this week that the economy would recover strongly.

Meanwhile Anna Bligh, chief executive officer of the Australian Banking Association, has reminded customers not to tough it out on their own.

“Lockdowns continue to bite across several states, and banks are again stepping up to help,” Ms Bligh said.

“Support is available to all small businesses and home loan customers significantly impacted by current lockdowns or recovering from recent lockdowns, irrespective of geography or industry.”

Hardship approvals and loan deferrals are heavily skewed toward NSW residents, due to the continued lockdown. 

NSW home loan deferrals account for more than two thirds of total deferrals, while almost 80 per cent of deferred business loans are also from NSW.

It sat at 10,452 deferrals in NSW and 2580 in Victoria.

The number of customers accessing hardship grew by 73% this week, compared with a growth of 153% the week before. 

Growth in housing loan deferrals similarly slowed from 344% to 79%, while growth in business loan deferrals grew from 93% to 108%.

Banks have dedicated hardship teams.  

Almost 24,000 people since early July have accessed a range of support measures offered by their bank and 64% of these have opted to defer their loan repayments for up to 3 months.  



New data from the Australian Banking Association shows more than 20,000 customers have received hardship assistance during recent lockdowns,

Lockdowns prompt home loan deferrals

The Ellis Beach Oceanfront Bungalows Holiday Park has been listed for sale with approvals for a 221-key resort development including hotel, motel and apartment accommodation.

The holiday park and the adjoining Ellis Beach Bar and Grill have been listed for sale with expressions of interest closing September 9.

The Captain Cook Highway property overlooking the Coral Sea 28km north of the Cairns CBD, with bungalows, caravan and campsites.

The site is a combination of crown and perpetual leases over two parcels that include the beachside camping area and the bar and restaurant on the other side of the highway.

The Tropical North Queensland site includes a 9.7ha property held under perpetual lease. 

It charges up to $210 a night high season.

CBRE agents Danny Betros and Scott Callow are running the national marketing campaign.

“It presents a prime opportunity to make the most of a recently granted 20-year state government lease over the land, which secures the operation into the future,” the local paper reported. 

“DA approvals for projects of this scale take considerable investment and provide real value for an incoming purchaser, ” Callow added.

According to the development application lodged with council, the existing Ellis Beach Bungalows and Caravan Park are unable to satisfy existing demand for accommodation at Ellis Beach during the peak season. 

Bellbird Park Developments Pty Ltd which has operated Ellis Beach Bungalows and Caravan Park and the Ellis Beach Bar and Grill for many years, initially lodged the application in 2012.

The $100-million project involved eight stages.

They were granted an extension pending the environment approval in 2018.

CoreLogic indicate the site last sold in 2003 at $3.75 million in a liquidation sale. 




The Ellis Beach Oceanfront Bungalows Holiday Park last sold in 2003


Ellis Beach holiday park listed for sale with apartment redevelopment approvals

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jonathan Chancellor

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