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Sydney purchasers need to be very careful, because at some point there has to be some correction, HSBC Australia chief economist Paul Bloxham has again warned.
"Sydney house prices are running at an unsustainable pace," he told AAP.
Following recent strong gains that are set to continue, HSBC is forecasting Sydney house prices will be broadly flat in 2016, though not experiencing a big fall.
"The more Sydney house prices go up, the more likely it is that they will have to correct, and that's not necessarily a bubble," the former RBA economist said.
Earlier this year, after the February rate cute, he noted he was worried about the Sydney property market.
Speaking at the Australian Mortgage Innovation Summit, HSBC’s chief economist, Paul Bloxham, said the only housing market that the RBA and APRA needed to be cautious of was Sydney.  "In Sydney, this is going to be quite a challenge.
"The rest of the market doesn’t look over inflated. 
"I don’t think there is a housing bubble in Australia. 
"I think that if Sydney sees the same trends as we have seen over the last year or two, that is house prices is running at an annual inflation rate of 13% year on year, then if that continues for very much longer than you will need to see prices at some point will come down.”
The summit was hosted by Asia-Pacific Banking &amp; Finance.
 
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jchancellor-FAypfDUnLy

Not necessarily a bubble: HSBC's Paul Bloxham on Sydney house prices

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A Hong Kong property group who paid about $65 million for a Surfers Paradise oceanfront reserve site has plans for a 78 storey plus high-rise residential apartment block.
The developer secured the now razed 3,494 square metre Iluka site unconditionally last week, the Gold Coast Bulletin reported.
The planned tower is set to be taller than the 78-storey Q1.
The Iluka site was sold by US group Goldman Sachs, which gained control of it in 2013 when it paid Suncorp for a basket of distressed loans.
The building’s 72 apartments were amalgamated by the Raptis Group nearly 10 years ago.
The 17-level, early 1970s Iluka, home to the Billy’s Beach House nightclub and bar, was demolished in late 2013.
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Gold Coast's Q1 to be topped by nearby 78 plus storey residential highrise

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Mark Spearing, the chairman of the REIQ in Gladstone, understandably keeps getting asked "What will the market do over the next 12 months?"
"Firstly, however, we need to look outside of Gladstone, at what is happening globally, or nationally, then statewide, and of course locally and how the key pointers are aligning along the way," <a href="https://www.gladstoneobserver.com.au/news/forecasts-skewed-south/2608597/" target="_blank">he wrote in the local paper</a>, The Gladstone Observer.
"We currently have property market commentators making sweeping comments about the Australian housing market, and these opinions are skewed by the Sydney market that is absolutely flying in terms of competition for property."
He noted the south-east corner of Queensland was "travelling along nicely (in general terms), yet in central Queensland there are caution signs everywhere".
"The feel locally at present is that business in general is very tough and the cost of business is affecting employment, which in turn affects confidence and the housing market.
"This then affects all the associated industries and trades that are required to buy, sell, rent and build homes for our residents."
Spearing wrote more people were seeing the Gladstone market as a good buying prospect "with heaps of upside".
He noted a key indicators locally was the rental market that has stabilised over the quarter, that has been a long time coming.
"We all know the property market moves in cycles and now we are seeing some very interesting sales numbers come through, highlighting that more people are seeing our market as a good buying prospect with heaps of upside.
"Have we conceivably transitioned from an over priced market to an under valued one in super fast time?
"Time will tell."
{mijopolls 106}
Picture courtesy of Wikimedia Commons.
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Gladstone residential market has emerging positives: REIQ's Mark Spearing

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A Brighton golden mile waterfront trophy home is tipped to break the bayside suburb's price record.
The triple storey home would need to fetch $18 million plus at its May 19 expressions of interest.
It was the home former St Kilda Football Club president Rod Butterss built.
He sold 39 Seacombe Grove in early 2007 for $11.2 million to current vendor, solicitor John O'Halloran and his wife, artist Cathy Anne Coady-O'Halloran. 
<a href="https://www.realestateview.com.au/Real-Estate/39-seacombe-grove-brighton/Property-Details-buy-residential-8655190" target="_blank">Kay &amp; Burton agent Ian Jackson</a> is marketing the listing a year after the record-setting $18 million sale of Shanagolden, at 12 Moule Avenue.
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Brighton's Seacombe Grove record prospect

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Rents in most capital cities have remained at all-time highs over the March quarter despite increased supply from investors and developers, according to the Domain Group Rental Report.
Median weekly asking rents for houses increased by 0.8% over the March quarter while unit rents rose by 0.4% nationally.
The March national capital city vacancy rate was 2% for houses and 2.6% for units, contributing to an overall dwelling vacancy rate of 2.2%.
<img src="/images/2015/04/16/domain-april-16-one.jpg" alt="">
Rental markets were steady or declining in most capital cities with the exception of Melbourne and Hobart which both saw solid increases over the quarter.
Continuing the trend from last quarter, Hobart recorded the strongest increase in asking rents for both houses and units, which rose by 3.1% and 3.7% respectively.
<img src="/images/2015/04/16/domain-april-16-two.jpg" alt="">
Source: Domain Group
“Despite this recent growth, Hobart remains the most affordable of all the capitals, although it is rapidly closing-in on the next most affordable, Adelaide,” said Wilson. 
Melbourne was the only other capital city to record increases in the median weekly asking rents over the quarter.
Melbourne unit rents rose by 1.4% to $365, house rents by 2.5% to $390, both new records. 
<img src="/images/2015/04/16/domain-april-16-three.jpg" alt="">
Source: Domain Group
Sydney, Brisbane, Adelaide and Canberra house and unit asking rents remained steady during the period, while Darwin house rents decreased by 1.9% and unit rents dropped by 3.7%. In Perth, house rents were again flat while unit rents fell by 1.3%.
“The falls we’ve seen in Darwin and Perth demonstrate a softening of demand and increased supply in those local markets.  Darwin house and unit rents have each fallen by 7.1% over the year, the largest decline of any of the capitals,” Wilson said.
Regular observer Terry Ryder said of Domain Group's figures: "<a href="/expert-insights/domain-group-misses-the-obvious-point-with-rents-terry-ryder">Domain Group rather missed the point</a> with its media release on the latest figures for capital city rents."
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Darwin rents in decline with Hobart the strongest performer: Domain Group

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Tomorrow will mark the halfway point of the 90 day divestiture order Treasurer Joe Hockey announced to force the sale of the $39 million Point Piper trophy home, Villa del Mare.
Nothing publicly has occurred, so who knows what face saving options are being considered by the billionaire owner Xu Jiayin (許家印 also known as Hui Ka Yan).
He is estimated by Forbes to be worth about $7 billion, so he can afford the best minds to attend to the outcome. 
Nothing further from the Treasurer either on his crusade to make houses more affordable for first home buyers.
The Point Piper gossip suggests neither past selling agents Bill Malouf and Ken Jacobs have taken through any prospects <a href="/news/point-pipers-villa-del-mare-back-for-sale-as-australian-treasurer-thwarts-chinese-billionaire">since the March 3 Federal Treasury order.</a>
The Sydney property agent Monika Tu didn't help when she volunteered she had three buyers only prepared to pay around $35 million for the Point Piper mansion.
She has a nearby trophy home listing that had been priced on the maintenance of the $39 million figure.
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Nothing to show halfway through Villa del Mare, Point Piper's 90 day FIRB divestiture order

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A $38 million sale has been reported of Andrew Roberts' Gladswood Gardens, Double Bay property.
The six bedroom, eight bathroom harbourfront property is set on the northern point of Double Bay.
It was sold by the Bondi Beach-bound Multiplex scion Andrew Roberts who had it listed through Bill Malouf of LJ Hooker, The Australian reported.
The 1145 square metre north-facing holding has a three-level house completed in 2005 after Roberts paid $10.1 million in 2003.
Andrew Roberts, the former chief executive of Multiplex, has spent a record $25 million off the plan for a luxury Bondi Beach penthouse in the Pacific Bondi Beach complex.
Mr Roberts now heads RF Capital, which invests in commercial property, listed equities, ­private equity, and resources.
The house, which comes with heated pool, four-car garage, jetty and mooring, was once part of the Gladswood House grounds until subdivided by the Parisi family in 1950 for 10,000 pounds.
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Bill Malouf briefly had it for sale in 2010 when it was tipped to sit between the Sydney records set in 2008, when Craig-y-Mor fetched $32.4 million and Coolong sold for $45 million to Ivan Ritossa, the head of foreign exchange at Barclays Capital, through estate agent Bill Bridges. 
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<div><img src="https://b.domainstatic.com.au/w790-h526-2008377543_4_pi_150226_060531" alt="11A Gladswood Gardens Double Bay"></div>
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Title Tattle recalls the property was sold to Andrew Roberts through Laing &amp; Simmons Double Bay agent Bart Doff by the Ho hotel investment family who were relaxing at Huka Lodge, New Zealand, when Title Tattle breezed through some years ago.
The property had previously traded in 1989 for $7.28 million when sold by Robert Hampshire whose plans to merge it with Gladswood House failed after a tussle with then neighbour Alan Bond.
That was unquestionably one of the most riveting property dramas of the highflying late 1980s.
One of Australia's then wealthiest, Alan Bond, and the entrepreneurial property developer Dr Robert Hampshire were engaged in an expensive and intriguing tussle over who should own and restore the Sydney sandstone landmark Gladswood House. And neither got their way, with both sold out separately by the early 1990s.
Bond owned Gladswood House, built in 1856 on the prime Double Bay peninsula, but Dr Hampshire, the flamboyant Sydney developer, snookered Bond by secretly securing the adjacent property.
Both men harboured a $30 million desire to restore the baronial mansion, which was once set on two hectares, to its place as one of Sydney Harbour's most elegant homes.
Title Tattle recalls Dr Hampshire said at the time: "It's like Solomon's purse."
Each one worth (supposedly) nothing on its own but worth the world together.
Looking on from his neighbouring holding, Hampshire believed Gladswood House rivalled Kirribilli House and Carthona, the Oxley Darling Point residence, as the finest harbour-side homes.
Occupied by the crew of Bond's Southern Cross II, the Gladswood Gardens castle had purchased by Bond's Endeavour Resources Pty Ltd for $2.4 million in January, 1986.
Alan's then wife, Eileen Bond, who had a flair for interior design, told Title Tattle back then that "We really do love that house. We certainly won't sell, but it would be nice to get the property next door."
Gladswood House's previous owners include the property developer Warren Anderson and the investment banker Robert Whyte. 
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Andrew Roberts secures $38 million for Double Bay harbourfront

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Mike Cannon-Brookes, the co-founder of software firm Atlassian, has been pinpointed as the $12 million mystery buyer of the record setting Centennial Park trophy home.
<a href="https://news.domain.com.au/domain/real-estate-news/centennial-park-suburb-record-broken-with-12-million-sale-20150313-141ul7" target="_blank" style="line-height: 1.3em;"></a>It was bought from the prestige car dealer Ian Pagent and his wife Marianne with listing details quickly taken down from the web.
Settlement has yet to occur on Braelin, restored and extended with high regard for its architectural heritage significance.
It stands on the largest landholding on the prized park-side avenue.
Designed in the inter-war Californian bungalow style by architect Donald Esplin and built in 1918 for Sir Allen Taylor, a former lord mayor of Sydney, the house has seven bedrooms, six bathrooms and grand reception rooms.
 
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Sir Allen Arthur Taylor (1864-1940), timber merchant, ship-owner and politician, was born on 13 May 1864 at Wagga Wagga, the fourth child of John Bate. For reasons that remain obscure, he changed his surname to Taylor some time between 1890 and 1895. 
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One of Centennial Park's finest residences, it sits on a 2,195 square metre land parcel opposite the park.
The suburb's record stood at $10 million for two Martin Road homes.
Local agents suggest local newspaper speculation as to the mystery buyer was likely to prove correct on settlement of the early March sale. 
 
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The two blocks were purchased from the government in 1913 by brothers, Ernest and Harold Morgan. 
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Mike Cannon-Brookes spends $12 million in Centennial Park

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A private Melbourne investor has purchased the Williams Landing Masters store for $36 million.
It was bought from listed property company Cedar Woods through CBRE agents Mark Wizel and Justin Dowers. 
The Masters home improvement store was sold with a 20-year net lease, 100% guaranteed by Woolworths and returning a net income of over $2 million.
Click to open in new window:
<a href="/images/2015/04/15/cbre-apirl1-5b-re.jpg" target="_blank"><img src="/images/2015/04/15/cbre-apirl1-5b-re.jpg" alt=""></a>
Reflecting a yield of 6%, the sale of the not yet two year old store represented the strongest yield ever achieved for a hardware store in Australia.
“We were really taken back at both the depth of offers and aggressive nature of bidders for this asset,” Wizel said. He noting other recent Masters store sales included Dandenong, Western Australia and Penrith all achieved yields of between 6.75% and 7%.
“The latest sale at 6% shows the significant increased confidence that buyers have in the Masters covenant and the longer term outlook from investors in relation to the Masters platform as a business,” Wizel commented.
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CBRE nail strongest yield yet for Masters Hardware offering

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Raine &amp; Horne Commercial WA secured $4 million worth of land sales at the Northlink Industrial Park last week.
It has now sold 83 lots over three stages at Northlink, marketed as the last significant industrial land opportunity located within the inner suburbs of Perth’s rapidly growing north western corridor.
The Raine &amp; Horne selling agent, Anthony Vulinovich said the industrial estate, situated in Wangara and Gnangara, was a premium industrial location with strong amenity for businesses and their employees.
<img src="/images/2015/04/15/Northlink%20001.jpg" alt="">
Due to the strong demand and the limited number of remaining lots in Stage 3, the developer, Linc Property, has brought forward the release of Stage 4. 
The flexible lot sizes range from 1,100 square metres to three hectares, with prices between $300 and $390 per square metre.
The release of the final stage will be split into two phases, with Stage 4A now selling on the open market.
Civil works are well underway with titles expected as early as April 2015, according to Vulinovich.
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WA's Northlink industrial estate secures 83rd lot sale

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Jonathan Chancellor

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