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The Property Observer team is taking a break from daily publication.
We return January 5 in our fifth calendar year of publication.
Enjoy the break too!
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jchancellor-FAypfDUnLy

Property Observer publication resumes January 5, 2015

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Sydney's strong property market has triggered a windfall in stamp duty for the state government.
The NSW government's half-yearly budget review indicated stamp-duty revenue was 40% higher in 2013-14, allowing the Treasurer Andrew Constance to say the NSW budget was the "envy" of the nation.
The state government also expects $744 million more stamp duty in 2014-15 than it forecast in the May budget.
Stamp duty revenue was now expected to be up by 12% during the current financial year.
Much of the gain was through commercial and industrial property sales.
But softer revenue than expected in payroll tax and mining royalties was noted along with the jobless rate expected to be higher than the prior 5.5% forecast.
After predicting a $283 million deficit for 2014/15 mid-year, the review revealed a likely surplus of $272 million.
The $555 million turnaround was mostly attributed to property stamp duty.
"Higher-than-expected property transfer duties are the significant driver of the 2014/15 surplus forecast," Treasurer Andrew Constance said.
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NSW stamp duty boost for state government coffers

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The strong Sydney property market in 2014 means it is taking 10 months longer to get into the market than it did during 2013. 
Sydney is the most difficult capital city in Australia for first time buyers to enter the property market, with deposit savings times now approaching seven years for couples, said Ian Rakhit, Bankwest's head of specialist banking said.
The sixth annual Bankwest First Time Buyer Deposit Report revealed it will take 6.7 years for first time buyers in Sydney to save a home deposit for a median priced property.
"This is an increase of 0.8 years (approximately 10 months) on the same point in 2013," said Rakhit.
"The jump in savings time is largely attributed to a 15.4% year-on-year increase in median home values."
First time buyers in Sydney now need to save a $165,100, 20% deposit to purchase a median priced property.
"This is $40,000 more than the next most expensive capital city, Melbourne ($126,200), and considerably more than the average capital city deposit of $104,813," Rakhit said.
“New South Wales continues to see high levels of population growth, which has a direct impact on housing demand and affordability.” 
“This affects everyone in the housing market, but it certainly makes the first step onto the property ladder tough for Sydney-siders."
There are now 12 local government areas (LGAs) in Sydney where it would take a couple more than 10 years to save for a home deposit, which equates to a record 28% of total LGAs for the Sydney region.
<img src="/images/2014/12/18/bankwest-dec-19-one.jpg" alt="">
Source: Bankwest
A further 44% of Sydney LGAs have savings times of over six years. Only 12 Sydney LGAs offer savings times between two to four years, while 16% would take four to six years.
Mosman remains the most difficult suburb to break into for first time buyers, requiring 14.2 years to save a deposit. The second most difficult suburb is Woollahra, where savings would take 13.8 years.
While Sydney remains Australia’s most expensive capital city for first time buyers, the rest of New South Wales offers much more affordable properties, with a couple on an average income taking 4.8 years to save the $112,700 required for a home deposit.
There are 37 LGAs in New South Wales (25% of the total of 149) where the average first time buyer couple would have to save for less than two years to raise a 20% deposit for their first house. Central Darling in Far West New South Wales has the shortest savings time in the state, taking 0.7 years (eight months) for a couple to save the $13,600 required for a house deposit.
“As first time buyers find themselves priced out of inner Sydney, regional alternatives may become more appealing. If first time buyers are willing to look outside the typical hot-spots there are still good deals to be found,” Rakhit said.
Nationally, first time buyers are being forced to save for longer as the median value of houses outpaces salary growth. On average, Australian first time buyers will now take 4.1 years to save a 20% deposit for a house, up from 3.9 years in 2013.
<img src="/images/2014/12/18/bankwest-dec-19-two.jpg" alt="">
Source: Bankwest
Despite a rapid increase in the median price of housing across Australia, wages among first time buyers have only grown by 2.6% over the year, leaving first home saver incomes lagging behind rising house prices.
“This year’s report reveals an ongoing and increasing trend in the amount of time it takes to save for a first home in Australia. At the same time, those who are in a position to join the property ladder this year will do so a time when the average price of houses is showing strong growth,” Rakhit said.
A large part of the growth in national housing prices can be attributed to low interest rates, with standard variable rates currently at the lowest level since 2009. The current average rate of 5.9% per annum is well below the average rate of 7.3% seen over the past 10 years, he said.
"While low interest rates may make it easier for home owners to service their loans, they can also make it more difficult for first time home buyers to save for a first home deposit," he said.
"For a couple saving their money in a high interest online savings account, the average interest rate has been 2.5% over the past 12 months, down from 3.17% in 2013, and the average rate of 4.69% over the past 10 years."
The report quantifies how long it would take a first time buyer to save a 20% deposit based on local incomes and local house prices and the level of the First Home Owners Grant where available by state. Data has been sourced from the Australian Bureau of Statistics (ABS) Wage and Salary Earner Statistics for Small Areas, the ABS Wage Price Index, the Reserve Bank of Australia (RBA) and Residex.
Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually. The calculation assumes the savings are deposited into an online savings account each month and earn interest on this basis.
A full list of results for 465 LGAs across Australia is available in the Bankwest First Time Buyer Deposit Report 2014, which is available at <a href="https://www.bankwest.com.au" target="_blank">www.bankwest.com.au.</a>
<img src="/images/2014/12/18/bankwest-dec-19-three.jpg" alt="">
Source: Bankwest
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10 extra months needed to save for Sydney first home deposit in 2014: Bankwest

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The Apple co-founder, gadget guy Steve Wozniak will soon become an Australian resident, with plans to initially buy a bolt hole in Sydney.
He is house hunting at the moment, having officially become an Australian citizen while keeping dual citizenship. No details yet on just where he intends to buy, but the ferry ride to Manly may possibly help hone his preference. He was staying at the newly opened InterContinental at Double Bay.
While he’ll continue to be based in California while travelling around the world on speaking engagements, he seemingly intends to settle permanently in Tasmania.
“The Premier of Tasmania (Will Hodgman) actually called us at our home and offered to show us around if we were ever there," he told The Australian Financial Review.
"Hopefully in the next few days we can get there, as I really like the idea of cooler weather.”
He had previously had his destination as <a href="https://www.4bc.com.au/radio/steve-wozniak-at-chermside-20120921-26ak4" target="_blank">probably Melbourne</a>.
Wozniak, who formed Apple with Steve Jobs and Ronald Wayne in Palo Alto California in 1976, has become an adjunct professor at the University of Technology in Sydney.
He told the AFR his decision came after he received an email from old friend, Sydney-based barrister Nicholas Baltinos.
Wozniak was the coaxed by UTS professor Mary-Anne Williams through her connections to Stanford University. 
Wozniak and wife, Janet, have harboured intentions of living in Australia since 2012 when he first applied to be an Australian citizen.
His son is married to an Australian and lives in Sydney.
Woznaik appears to like the modern style judging by the <a href="https://www.zillow.com/homedetails/300-Santa-Rosa-Dr-Los-Gatos-CA-95032/19748736_zpid/" target="_blank">six bedroom, seven bathroom, Los Gatos, California home he built in 1986</a> and sold in 2004 (pictured below).
<img src="/images/2014/12/19/woz%20dec%2019%20one.jpg" alt="">
<img src="/images/2014/12/19/woz%20dec%2019%20two.jpg" alt="">
<img src="/images/2014/12/19/woz%20dec%2019%20three.jpg" alt="">
<img src="/images/2014/12/19/woz%20dec%2019%20four.jpg" alt="">
<img src="/images/2014/12/19/woz%20dec%2019%20five.jpg" alt="">
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Apple co-founder Steve Wozniak house hunting in Sydney, but bound for the Apple Isle

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The Raith House residential development site at Bradbury has been sold for $2.41 million.
Capital Developments bought the 2.2 hectare offering from Government Property NSW.
It was offered through John Macree and Dylan McEvoy at JLL.
It comes with the heritage listed home, <a href="https://www.realcommercial.com.au/property-land+development-nsw-bradbury-501368135" target="_blank">Raith House at 74 Fern Avenue</a>, offered after fire damage and ongoing vandalism.
The Indian bungalow-style house was built for H.J.M. Merewether and his bride, Wilhelmina Gore, daughter of Campbelltown bank Manager, A.J. Gore. 
The building was designed by Wardell &amp; Denning in 1903 and built by D. McIntyre and Sons of Sydney at a cost of 3000 pounds. 
Raith Lark Hill Hostel was established by the Child Welfare Department in 1964 to serve the Campbelltown district.
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Indian-style bungalow Raith House, Bradbury sells for $2.41 million

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The former Tinkler Group Hunter Sports Group chief executive Troy Palmer has sold his Merewether home for $3.25 million.
The four-bedroom, four-bathroom Berner Street home set a Merewether sale record in 2008 when Nathan Tinkler bought it from NRL legend Andrew Johns for $4.3 million.
It sold four years later to the Palmer family for $2.8 million.
The latest sale was off market with no marketing of the home on the prime foreshore location.
Photo courtesy of Adam Daley/ <a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
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Former Tinkler executive sells Merewether house

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All three of the latest surplus Millers Point terrace offerings failed to sell at auction earlier this week.
The properties were being sold with an unregistered plan of subdivision.
The result ended the stellar run which began in August for the state government disposal.
<a href="/news/nsw/state-government-millers-point-terrace-sell-off-continues-apace">The Georgian-style properties</a> were built by local publican William Cole in the 1840s.
The properties were at 24 Argyle Place and 28 Argyle Place and 32 Argyle Place.
The initial six properties sold at Millers Point netted the state government around $15 million.
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Millers Point stellar selloff hits subdivision stumbling block

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The King David School has sold its land holding in Armadale.
With more than <a href="https://www.cbremelbourne.com.au/properties/cbd-and-cbd-fringe-development-sites/117-kooyong-road-and-21-23-munro-street/" target="_blank">6000 square metres, </a>it was hoped it would fetch as much as $15 million.
But it fell short with the campus, that includes the historic Armadale House mansion, selling for $14.5 million.
The 1.5 acre property located at 117 Kooyong Road and 21-23 Munro Street has been home to the school since the 1970s.
The marketing campaign was conducted by CBRE overseen by the property consultancy Charter Keck Cramer.
King David School president Mark Harrison said the proceeds would be used to fund construction and refurbishment at the school’s two campusus in nearby Dandenong Road and Orrong Road, Armadale.
Interest had been expected by aged care and medical operators, residential developers, educational institutions and private home buyers.
Thee is a two-year leaseback on the current premises.
Armadale House was built in 1876 for James Munro, the land boomer who was the 15th Premier of Victoria from 1890 to 1892.
It is a two storey brick and stucco Italianate trophy home with a cast iron balcony verandah designed by architect W.H. Ellerker. 
Munro named his mansion <a href="https://sites.google.com/site/themunrosofarmadalesutherland/home/donald-munro-1802" target="_blank">Armadale House</a> after the fishing village in the north of Sutherland, Scotland where his family migrated from. The suburb takes its named from the house. 
Munro, the son of the Prahran pound keeper, started his career as the owner of a small grocery business in nearby Prahran.  
It was said when he first lived in Armadale, he was the owner of 72 acres which were free of encumbrance. 
In his days of wealth, the teetotaller donated the land for the Armadale Bowling Green on the express condition that no intoxicating liquor should be served in the club room. 
The larger of the two sites on the Kooyong Road battle-axe measures 4,300 square metres and includes Armadale House. The smaller site, on Munro Street, measures 1,728 square metres. 
Armadale House last sold for $290,000 in 1977.
The Melbourne Bible Institute owned the property in the 1950s.
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King David School sells land boomer's Armadale House

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A Merrylands West auction secured a $1,455,000 million sale, setting a new suburb record.
The auction at <a href="https://www.realestateview.com.au/Real-Estate/cusack-street-merrylands/Property-Details-sold-residential-7937852" target="_blank">26 Cusack Street</a> had five registered bidders with bids taken by auctioneer Scott Dalton.
The selling agent Hadi El-Azzi, of Ray White Merrylands, secured $140,000 higher than the suburb's prior record.
The five bedroom, six bathroom house, with study, is set on a 562 square metre block.
The family who bought the 20 year old home will upsize from a Merrylands duplex.
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Merrylands West record price paid at auction

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Rabbitohs NRL star Ben Lowe has sold his Botany investment apartment for $585,000.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-botany-nsw-2019/241723" target="_blank">The two-bedroom, one bedroom unit</a> at 4/47 Rochester Street came with a double lockup garage.
Lowe paid $453,000 for the 1970s unit in July 2010, reflecting 6% annual price growth.
It was available for rent at $450 a week several times during its ownership, most recently in April this year.
The price guide of over $550,000 was given for the 61 square metre apartment by Billy Couldwell of McGrath Coogee. 
Lowe watched from the sideline as his NRL side claimed their first premiership in 43 years. 
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Rabbitohs Ben Lowe's Botany investment scores 6% annual growth

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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