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The Vocation founder and former executive Brett Whitford has emerged as the $16 million buyer of a Balmoral cliff top trophy home.
The recently settled spring 2014 deal comes with no registered mortgage.
It was the harbourfront home of the recruitment industry pioneer <a href="/news/geoff-morgan-secures-16-million-mosman-trophy-home-sale">Geoff Morgan and his wife, Roslyn</a>.
Title Tattle suggests it was a bullish price given the Mosman market place is only just emerging from its post global financial crisis slumber, although the prized 8 Burran Avenue mansion had actually been listed in September 2013 when it came with for $17 million plus private treaty hopes. 
The Morgan house had been substantially renovated, while still retaining its 1930s Mediterranean-style. There are views of Grotto Point, Castle Rock Beach, Clontarf and the rest of the Middle Harbour beauty points along with national park headlands.The co-founder of recruitment giant Morgan &amp; Banks bought his north-facing, cliff-top, 1,100 square metre property in May 2004 for $5.25 million.
The five-bedroom, six bathroom house with a gym and pool was sold through <a href="https://www.mcgrath.com.au/buy/house-mosman-nsw-2088/237869/?searchID=42846204" target="_blank">McGrath agent Michael Coombs</a>.
Whitford holds about 9% of the shares in the publicly listed Vocation Limited (VET) provides education, training and assessment activities leading to accredited outcomes offered by a registered training organisation.
Vocation entered a trading halt on Monday ahead of announcing its fourth profit downgrade with its share price having fallen from a September 2014 high of $3.31 to as low as 14¢. 
The company was valued at $650 million but now sits around $60 million.
 
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jchancellor-FAypfDUnLy

Vocation founder Brett Whitford spends $16 million at Balmoral

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The Melbourne-based boutique, property fund manager, Quintessential Equity, has sold its Parramatta commercial property located at 87 Marsden Street.
The property secured $33.15 million when purchased by a private European investor represented by VennCap Real Estate.
Market sources suggested the Hilti Group bought the building on a yield in the low 8% range.
Established in mid-2010, Quintessential Equity Pty Ltd is a fully-managed property syndicate catering to wholesale investors and they acquired the property in 2011 for $20.5 million from GE Capital.
After a subsequent upgrade, it awarded the prestigious Energy Efficiency Council award for best commercial building project for 2013.
The building achieved 100% tenant occupancy with long-term leases to major government and commercial organisations including the NSW state government, the Australian Institute of Fitness, Shine Lawyers and Marsh Insurance.
The building has a net lettable area of 6,659 square metres and comprises seven levels of commercial office and two levels of secure basement parking with 79 individual car spaces.
Russell Bullen, head of property for Quintessential Equity, said the sale was managed by Colliers International and Knight Frank. 
Colliers' Gavin Bishop, John McCann and Tim Russell and Knight Frank's James Parry and Wally Scales brokered the deal.
It has been one of the most traded office blocks in Parramatta, selling seven times since 1989.
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Quintessential Equity sells award winning Parramatta commercial property 

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Australian retail rents are beginning to rise across the board after a prolonged lag to retail trade, with CBRE’s Q4 Australia Retail MarketView report highlighting 3.7% CBD growth in national rents in 2014, underpinned by a significant 10.7% rental hike in NSW.
Rental growth is also emerging in the regional, sub regional, neighbourhood and large format sectors according to CBRE’s head of research, Australia, Stephen McNabb, with regional face rents tipped to grow by 2.6% this year, followed by 2.8% growth in 2016.
“Expectations for rent growth are  improving across most parts of the retail sector reflecting the improved trading conditions and sales growth seen in 2014,” McNabb said.
“Retailer profit margins have fallen in the past two quarters due to rising competition and the weakening AUD but are still relatively high after a period of consolidation and cost cutting.  Retailer business confidence, whilst modest, is improved on the weak levels of 2013. Fundamentals are now more supportive of rental growth and this has driven stronger investor interest in the retail sector.”
A key driver of CBD rental growth has been the continued entrance of foreign retailers, which has led to increased demand for prime CBD space.
This was highlighted by the Q4 opening of French luxury cosmetics retailer Sephora and Uniqlo, both in Sydney’s Pitt Street, and Swedish mid-range fashion retailer COS opening its doors in Elizabeth Street Melbourne.
Click to open in new window:
<a href="/images/2015/01/21/retail-jan-21-one.jpg" target="_blank"><img src="/images/2015/01/21/retail-jan-21-one.jpg" alt=""></a>
Source: CBRE, Q4 2014.
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Retail rents finally on the rise: CBRE Research

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An undisclosed Melbourne antique dealer has purchased a 338 square metres showroom at 135 Burwood Road in Hawthorn for $1,619,000.
The deal was negotiated by Gray Johnson agent Rory White right on Christmas Eve.
The building a clear span showroom with a concrete floor has an eight metre frontage to Burwood Road and was previously occupied by bedding retailer Regal Mattress. 
The vacant possession building had been leased as a showroom at an annual rate of $76,000 plus GST and building outgoings.
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Antique dealer buys Hawthorn retail space on Christmas Eve

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The recovery in office leasing markets gathers momentum, according to JLL's latest national office stats.
The research noted CBD office markets recorded a second quarter of positive net absorption, the first time since 4Q11.
"However, a dichotomy in leasing activity between the service-orientated markets of Sydney and Melbourne and the resource-dependent markets of Perth and Brisbane exists," JLL Research advised.
The figures recorded positive net absorption of 16,200 square metres over the quarter – the first time positive net absorption has been recorded in two consecutive quarters since 4Q 2011. 
Nevertheless, the national CBD office market vacancy rate was unchanged at 12.5%, JLL’s National Director of Research, Andrew Ballantyne said.
The recovery in leasing enquiry and activity is concentrated in Sydney and Melbourne. Sydney recorded 27,700 square metres of net absorption over 4Q14 – the highest figure since 2Q10 – taking the full year net absorption figure to an above-trend 70,000 square metres. 
JLL’s Head of Office Leasing, NSW &amp; Australia, Tim O’Connor said net absorption surprised on the upside in Sydney over 2014. 
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Office leasing recovery dichotomy: JLL Research

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Hudson Investment Group Limited has appointment Alan Beasley as its managing director.
Beasley is a former vice president of Bankers Trust Australia for 13 years and more recently served Goldman Sachs Australia, Massachusetts Investment Advisors, and BNP Paribas as country head and managing director of the Asset Management businesses.
Hudson Investment Group Limited (HGL) is engaged in investment, management and development of commercial properties in Australia.
HGL manages and develops properties in Australia, including a factory and office complex at Warnervale and a Sydney car park owned by Hudson Property Trust (HGL’s 100% subsidiary).
The Warnervale 44.5 hectare site on the NSW Central Coast is partially leased to Bunnings Group Limited.
The company’s commercial car park located at Hudson House, 131 Macquarie Street in Sydney’s CBD is a prime asset catering for nearby hotels, including the Intercontinental Hotel, Sofitel Wentworth and Sir Stamford), Conservatorium of Music and Medical and Dental centres. 
The car park is managed by Secure Parking Pty Ltd. 
It also processes and distributes attapulgite based products and also manufactures specality absorbent products for waste water application, explores coal tenements and involved in resource projects through Hudson Resources.
Juliana Tan has advised the company of her resignation as a director, but will provide advisory services to the company.
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Juliana Tan previously worked for PriceWaterhouse Coopers as a Chartered Accountant. She has been with the company since 2003. 
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Last September Hudson Investment Group reported net loss of $11 million for the half-year ended 30 June 2014.
Revenue from ordinary activities were $6.83 million, up 1.44% annually. 
Late last year Hudson Investment Group advised that it will implement a share purchase plan offering eligible shareholders the opportunity to purchase shares in HGL without brokerage or other related charges. The offer price is 4 cents per share, rounded up to the nearest one tenth of one cent.
It was in the early 2000s when John Farey became executive chairman of Hudson Investment Group.
Bruce McLeod was another past managing director.
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Hudson Investment appoint Alan Beasley as managing director

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The national commercial and industrial security fencing contractor Fencewright Pty Ltd have taken up a tenancy in a refurbished industrial facility at Geebung in Brisbane’s north.
The company’s new Queensland headquarters will be at 21 Kingtel Place, Geebung.
Fencewright has taken out a three plus three year lease at a gross rental at $130,000 per annum.
The lease was negotiated by Paul Anderson and Dan Costello of Ray White Industrial Milton.
FenceWright was established in Perth four years ago.
FenceWright moved on the lease listing within 48 hours of Ray White Industrial Milton listing it for lease.
The 2,000 square metre holding comes with a refurbished building area of 1,150 square metres, including a 1,000 square metre warehouse and a 150 square metre office/showroom space.
FenceWright managing director Matthew Sivewright said they had been searching for several months.
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Industrial lease in Geebung for Fencewright

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AMP Capital has announced the retirement of its longest serving fund manager, Louise Joslin.
The fund manager of the AMP Capital Diversified Property Fund (ADPF) will retire mid-2015 after a 34-year career in the property industry including 20 years at AMP Capital. 
It is anticipated Joslin will work with her successor to effect a seamless transition.
Joining in 1995, Joslin’s time with AMP Capital includes nine years as fund manager of the flagship Australian Core Property Portfolio and in late 2014 she was integral to the acquisition of $4 billion of assets by ADPF and a successful capital raising by the Fund. 
She is a former director and NSW president of the Property Council of Australia. She was in the late 1980s a Raine and Horne Commercial associate director. 
One of the largest, unlisted property funds in the country, ADPF has total assets of $4 billion with 18 assets aross the Australian office, retail and industrial property sectors, as well as units in the AMP Capital Shopping Centre Fund and AMP Capital Wholesale Office Fund. 
This includes the newly-developed Macquarie Centre in Sydney, Pacific Fair on Queensland’s Gold Coast, which is currently undergoing significant re-development, and potential developments at Garden City Booragoon in Western Australia and Quay Quarter Sydney.
Last year AMP Capital announced the retirement of another one of the longest-serving members of its leadership team: the director and chief investment officer, property, Andrew Bird.
Andrew Bird will retire this year after a 37-year career in the property industry in the UK and Asia Pacific. He has been responsible for AMP Capital’s property investment and management business since 2004. Mr Bird will be replaced by Adam Tindall, who has been promoted from his current role of Chief Operating Officer, Property.
 
 
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Fund manager Louise Joslin retiring from AMP Capital

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The consumer sentiment on housing improved in the latest Westpac Melbourne Institute Index.
Westpac’s chief economist, Bill Evans, noted the index tracing ‘time to buy a dwelling’ increased by 9.4% following the 10.8% fall in the index in December.
"The index is still 11.4% below its one year ago level," he added.
"This reversal of the December result removes some downside risk to the outlook for housing demand but does not change the more general picture of cooling sentiment towards housing.
“We also saw a strong rebound in house price expectations.
"The Westpac Melbourne Institute House Price Expectations index increased by 8.6% following an 8.3% fall in December.
"Consistent with the signal from the 'time to buy' index, this index is also indicating that confidence toward housing has cooled.
"This index is still down by 13.9% compared to a year ago.
Evans, noting the Reserve Bank Board next meets on 3 February, says markets are giving little chance to the prospects of a rate cut at that meeting.
"On 4 December last year Westpac forecast that the Bank would cut rates by 25 basic points in both February and March. At that time markets were pricing in the prospect of one rate cut by end 2015.
"They are now expecting close to two cuts by end 2015, in line with Westpac’s view but at a much slower pace.
“We expect that by the time of the release of the inflation report next week the case for a rate cut will have been made.
"The prospect of moving in February should be attractive to the Bank.
"A February decision can be fully explained in the Statement on Monetary Policy released three days after the decision, including the opportunity to update inflation forecasts."
The overall Westpac Melbourne Institute Index of Consumer Sentiment increased by 2.4% in January from 91.1 in December to 93.2 in January.
“However, when assessed in the context of the sharp 5.7% fall in the Index in December it is not a particularly strong result," said Evans.
"The Index is still down by 9.7% on a year ago and really only back at the levels we saw in the immediate aftermath of the federal budget when the Index had tumbled by 6.8%.
"At 93.2 the Index level indicates pessimists still outnumber optimists by a significant majority."
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Time to buy dwelling rebounds, but still cool: Westpac consumer sentiment

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Household debt has increased to an all-time high - at a multiple of 1.7 times annualised household disposable income, the ANZ Bank has noted.
But household debt levels remain ‘comfortable’ given growth in household income, interest rate levels and household assets, says bank researchers, David Cannington and Katie Hill.
Their ANZ Research paper - headed Household Debt: A house of bricks or straw - concludes there is little sign of financial distress among households.
"Mortgage delinquencies are well below 0.5% of total mortgages and have been trending lower for most of the past year," Cannington and Hill wrote.
<img src="/images/2015/01/21/anz-jan-21-five.jpg" alt="">
 <img src="/images/2015/01/21/anz-jan-21-six.jpg" alt="">
"Despite higher levels of debt, households’ ability to service their debt has improved markedly, primarily due to lower interest rates, with household interest payments as a proportion of income below long-run average levels," the report said.
<img src="/images/2015/01/21/anz-jan-21-one.jpg" alt="">
But notwithstanding the current manageable levels of household debt and the current forecast of steady expansion in Australian medium-term economic growth, they suggest under certain economic stress conditions households could see a sharp increase in debt stress, primarily through mortgage default.
"Recent RBA research is consistent with our view that the most likely driver of mortgage defaults would be negative housing equity combined with a sharp increase in debt service difficulty, likely due to broad-based job losses and higher interest rates," Cannington and Hill wrote.
<img src="/images/2015/01/21/anz-jan-21-two.jpg" alt="">
The report noted interest rates are a key variable driver of debt servicing ratios, and have been more volatile since the Global Financial Crisis, particularly to the downside. 
"While we don’t expect interest rates to rise sharply in the coming years, and we have forecast 50bps of rate cuts in 2015 reflecting a subdued economic growth profile, we have modelled the impact of various monetary policy scenarios on the debt servicing capacity of households. 
"Our general view is that, assuming no significant improvement in labour market conditions, debt servicing ratios around 10-11% would start to put pressure on mortgage delinquencies.
"However, interest rates and monetary policy do not adjust completely independently of economic and labour market conditions. In all likelihood, if interest rates were increasing it would be under a scenario of improved labour market conditions and high income growth. However, for the purposes of testing household leverage vulnerability to interest rates, all interest rate scenarios assumed the same income and credit growth assumptions, namely:
<ul>
<li>"Continued weakness in disposable income growth with growth gradually improving to 5% by 2017 and stabilising thereafter; and</li>
<li>"Annual household credit growth between 5-7%.</li>
</ul>
"The baseline scenario in the model assumes our current monetary policy view of 25bp cuts in March and May 2015, before the RBA begins a 100bp hiking cycle in 2016. Modelling suggests our baseline and baseline +50bps scenarios would see debt servicing ratios peak at manageable levels (8.6% and 9.4% respectively in 2017).
"It is only once the cash rate exceeded our baseline by 150bps (taking it to maximum of 4.5% in December quarter 2016) that the debt servicing ratio would be pushed beyond 10%. 
"There are good reasons to expect households will be able to absorb higher debt servicing ratios more easily than in previous hiking cycles. 
"Our recent research indicates households have opted to maintain elevated repayment rates in recent years and this behaviour has driven excess mortgage repayment rates to historical highs.
"In addition to higher mortgage repayments, balances in mortgage offset and redraw facilities have also increased. 
"In fact, the RBA estimates that balances in mortgage offset and redraw facilities has increased to around 15 per cent of outstanding mortgage balances. 
"As deposits in offset accounts are not officially measured as negative mortgage debt, standard statistical measures of household debt don’t fully reflect the improvement in household balance sheets, particularly in recent years. 
"This more conservative household financial behaviour could provide a significant serviceability buffer in the next hiking cycle."
<img src="/images/2015/01/21/anz-jan-21-four.jpg" alt="">
The report noted household’s inability to meet mortgage repayments would most likely be caused by an adverse shock to unemployment.
The research paper also provided some useful quantitative rules to assess the probability of mortgage distress. These include: 
<ul>
<li>The likelihood of missing a mortgage payment increases with the loan-to- valuation (LVR) ratio at origination, particularly high at an LVR ratio above 90%. </li>
<li>Households with high debt servicing ratios are more likely to miss a mortgage payment. In particular, household debt servicing ratios (including principal repayments) of over 50% were 10ppts more likely to miss mortgage payments than households with debt servicing ratios under 30%. </li>
<li>Households with a full-time employed primary income earner are 8ppts less likely to miss a mortgage payment than households with a primary earner that is not in the labour market. </li>
<li>
A greater proportion of households that miss payments have both high gearing and a high debt servicing ratio compared to households that have either high gearing or a high debt servicing ratio. 
</li>
<li>Loans that are repaid quickly ahead of schedule are less likely to miss payments. Households that are making repayments ahead of schedule are 4ppts less likely to miss a mortgage payment, compared to households paying on time.</li>
</ul>
Source: RBA
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10% debt servicing ratio would trigger mortgage delinquencies: ANZ

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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