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Tahnee Barnes has quit The Agency to return to recruitment after nine months in real estate.
She was the high profile recruit who'd hit the headlines when she won the life-changing opportunity to work with leading eastern suburbs agent Bill Malouf in the LJ Hooker Million Dollar Intern program.
“Meeting Matt Lahood and hearing his plans for my future, and then joining Brad Gillespie and Irene Do, it was ideal,” she said after the new appointment was announced with great fanfare.
Her low-key departure was to SalesHQ.
Specialising in the inner city suburbs, from east to the west, Brad Gillespie claims a 25 per cent market share for house sales and the highest market share for apartment sales in Alexandria.
Gillespie and Do, who describe themselves as "quiet achievers", had been looking to expand their market share in the inner city region, with hiring Tahnee Barnes the first step towards this expansion. “Tahnee Barnes is one of the most passionate young agents I have met,” Brad Gillespie noted on her arrival.
“Tahnee is hungry to learn and being new to the industry, brings a fresh take on things.”
After a decade in the army, Tahnee Barnes won the opportunity to work <a href="https://www.instagram.com/tahnee_milliondollarintern/?hl=en" target="_blank">with leading eastern suburbs agent Bill Malouf</a> in the LJ Hooker Million Dollar Intern program late last year (below)
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Hailing from the ACT, Barnes previously worked in recruitment.
She beat nearly 200 hopefuls for the coveted three month internship.
She is now a talent adviser at <a href="https://www.saleshq.com.au/consultants/tahnee-barnes" target="_blank">SalesHQ</a> which recruits across several industries including automotive finance, stockbroking and insurance.
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Tahnee Barnes, the Million Dollar Intern, quits The Agency

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The real estate investment trust, GPT Group has announced it will sell its 50 per cent share of the MLC Centre in Sydney’s central business district.
It is speculated the stake could fetch $800 million. It has a $725 million book value.
The proceeds will be directed to new office and residential towers at Melbourne Central shopping centre and at Parramatta.
GPT chief Bob Johnston said the group’s investment in the MLC centre had delivered investors an “exceptional” return.
The sale will see GPT’s Sydney office exposure fall from 65 per cent to 60 per cent.
It will lift its Melbourne exposure from 30 per cent to 34 per cent.
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Shares in GPT closed flat at $5.53 yesterday. 
GPT jointly owns MLC Centre with office landlord specialist Dexus who paid $722 million in 2017 when it was sold by QIC.
In 2011 GPT had offered to sell its half stake in Sydney’s iconic MLC Centre to their then co-owner QIC.
In its 2010 annual results, the group’s share of the 67-storey, Harry Seidler-designed building was valued at $368 million.
The MLC Centre was built by Lend Lease in 1978. GPT bought a 20% share in 1990.
In 1996 GPT increased its share by 15% and QIC bought a 25% stake following MLC selling a 40% interest in the building.
In 1997, GPT and QIC picked up the remaining 40% held by MLC to become equal owners of the building.
Dexus chief executive Darren Steinberg says the property trust will consider buying the other half of Sydney’s MLC Centre.
 
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Half of Harry Seidler's MLC Centre to be sold by GPT

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The interim report on the issues affecting Sydney’s Opal Tower was released today.
It concluded the building is “structurally sound” but “significant rectification works are needed" to repair and strengthen damaged hob beams and panels. But the residents did not get the news they wanted about moving back in.
The investigators will continue to look at design and construction issues.
Minister for Planning and Housing, Anthony Roberts, thanked owners and residents for their support during the government’s independent investigation. “I want upfront to thank the owners and residents for their patience throughout the last few weeks,” Mr Roberts said.  “I can’t begin to comprehend the disruption this has caused to their lives, particularly at this time of year, and I thank them all sincerely for allowing the government’s investigation team and other teams to get on with their work”. Mr Roberts pointed out that today’s document was an interim report which ruled out extreme weather, poor quality materials and issues with the foundations. “We can confirm that, while the building is structurally sound, significant rectification works are required to repair and strengthen damaged hob beams and in some cases the panels that rest on them. “However, while we have isolated the probable cause to localised structural design and construction issues, we need more information to make definitive conclusions about the cause or causes of the damage to this structure and the proposed rectification. “We agree that the structural principles behind the rectification works are sound, but recommend independent oversight and review by qualified structural engineers before any major works begin.
“We also believe more work needs to be done to check the structural design of the hob beams and associated structural members with consideration given to strengthening them wherever they are in the building. “We recommend that independent and qualified structural engineers be engaged to check final proposals in detail, before major rectification works begin. “Re-occupation of Opal Tower extends beyond the scope of this investigation and was a matter for residents and the builder, subject to appropriate engineering and design oversight and guarantees." Robert said more work is also needed before the government "can provide recommendations on what needs to happen to avoid incidents like this in future.”
“I have been impressed with the efforts of all parties to work together to get to the heart of the issues and to help owners and residents get access to their properties as quickly as possible. “I trust that this independent interim report will be an important input to the discussions between the builders, the owners’ corporation and residents about moving people back into the building,” he said. A full copy of the interim report is <a href="https://www.planning.nsw.gov.au/interimopalreport" target="_blank">available here</a>. 
<div>It arises that residents face more uncertainty about whether they should move back in.</div>
There are another three ongoing investigations into what caused the cracking of concrete panels that sparked the evacuation of the owner occupier and rental occupants living in the Sydney Olympic Park building.
The NSW Government appointed two engineers to investigate: University of NSW dean of engineering Mark Hoffman and emeritus professor at the University of Newcastle’s School of Engineering John Carter.
Their interim report was handed to the government last week with Planning Minister Anthony Roberts issuing the report today.
The apartment’s body corporate has also hired an engineering firm Cardno to look into the problems and builder Icon Co has engaged Rincovitch Partners.
WSP, the original structural engineer involved in the project, is also investigating.
A previous statement issued by professors Hoffman and Carter updating progress on their investigation said initial assessments found no evidence of any issues with the foundations of the building, though “we believe that there are a number of design and construction issues that require further investigation”.
<div>Sydney Olympic Park entered into an agreement with Ecove in March 2014 to undertake the residential development.</div>
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SOPA revealed to The Daily Telegraph this month that the total value of the transaction was $47.9 million.
The Daily Telegraph reported last month the purchasers bought their apartment from the government’s Sydney Olympic Park Authority (SOPA)
<div>A SOPA spokesman denied any potential ongoing liability for the government body.</div>
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<div>"It would appear on paper people are buying apartments directly from SOPA but they're not.</div>
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<div>"SOPA's obligations are limited to transferring title because SOPA are the original owner of the land," he said.</div>
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<div>The Australian reported Sydney Olympic Park Authority, and not Ecove — the company that developed the land into Opal Tower — could be sued by apartment owners because of changes in building warranty laws designed to close a loophole in the NSW Home Building Act</div>
<div>Homeowners have two years to bring a claim if there are minor defects and six years for major defects. 
Changes to the act in 2010 meant that the owner of the property on which a building is built is considered the developer under the warranties, even if they did not engage the builder. 
“Ecove has been described in the media as the developer but without having seen the agreement in place between it and SOPA (the Sydney Olympic Park Authority) to develop the site, in my view given the current state of the law it would appear to have no liability under the statutory warranties to the owners,” said Paul Jurdeczka, a strata lawyer with 20 years’ experience from Chambers Russell Lawyers. 
“Presumably SOPA could sue Ecove if sued, and Ecove would sue Icon in turn, but these are all issues for the lawyers. However, one of the three major players in the project has no direct liability to the owners if they had to sue under the statutory warranties, because of a loophole in the legislation and the law.”
Banjo Stanton, a lawyer who specialises in residential defect litigation, confirmed that under the Home Building Act, the owner of the land during construction was considered the “developer”.
“If Sydney Olympic Park Authority owned the land during construction, then the government — via SOPA — is definitely on the hook,” he said. 
“If the position is that Ecove was not the landowner or the builder, it’s clear on the current state of the law that Ecove will not have any liability under the Home Building Act.”
The site has been owned by the crown and was transferred in 1992 to the Homebush Bay Development Corporation. 
It was then passed to Sydney Olympic Park Authority when it was established in 2001.
A Sydney Olympic Park Authority spokesman said it entered into a Project Delivery Agreement with Australia Avenue Development on its land. 
“The PDA requires the developer to assume all risks in relation to those works,” he said.
“SOPA’s obligations under those contracts are limited to transferring title.”
The chairman of the Sydney Olympic Park Authority is former NSW premier John Fahey who had a pivotal role in securing the 2000 Olympic Games for Sydney.
He is famously remembered for leaping from his seat in 1993 at the Monaco ceremony where Sydney won the right to host the Games.
In addition to being the SOPA boss, Mr Fahey is also the chair of the Australian Building Codes Board — a role he assumed in November 2017.
The ABCB is a Council of Australian Government (COAG) standards writing body that is responsible for the development of the National Construction Code.
The ABCB is currently undertaking an administrative review of building construction standards across the country for the state and federal governments.
 
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No definitive cause identified but Opal Tower is structurally sound but needs significant rectification 

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Venture capitalist Mark Carnegie has sold his con­verted Darlinghurst church.
The unconfirmed buyer is the Paul Ramsay Foundation who will convert the residential space into offices.
Carnegie purchased the 2080sqm property in 2010 for $8.75 million and refurbished it in 2011 into an award-winning home with modern art throughout. Carnegie recently joined forces with Cornerstone Property Group’s Mic­hael Grant to seek approvals for the SJB Architects office plans for the grand old classical church that closed in 2010.
It had been the First Church of Christ Scientist.
Described as a light, raw, freestanding lightweight struc­ture, Carnegie’s inner-Sydney contemporary abode was a 519sqm private sanctuary. It was set in the 1926 monumental Beaux Arts building designed by church member S. George Thorp from Peddle Thorp and Walker on the 2080sqm Liverpool and Forbes street corner site.
The faith was established in Sydney in 1900 coming from the mother church in Boston. The first services at the new premises were in July 1927.
The building, including the pipe organ, cost about £30,000 with the Beaux Arts style ­usually fancied by institutions wishing to express wealth and stability.
Carnegie, who studied science at the University of Melbourne, majoring in zoology since he wanted to be a marine biologist, joined the business world taking a summer job in the mid-1980s on Wall Street at a venture capital firm set up by James Wolfensohn.
He is preparing to host an F. Scott Fitzgerald 1920s themed house moving party in December.
This article was first published in the Sunday Telegraph.
 
 
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Mark Carnegie sells Darlinghurst church conversion

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The Sydney investment banker Mark Carnegie has joined forces with Cornerstone Property Group's Michael Grant to convert his concerted Darlinghurst church home into a high-end tech space.
A $13.1 million development application has been lodged for the former 1926 First Church of Christ Scientist on Liverpool Street.
The adaptive use plans by SJB Architects seek an office building with open-plan shared spaces, nine basement care spaces and a rooftop terrace.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/15/Carn4.jpg" alt=""> A rendered image of the level one auditorium
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Grant's high-end conversion projects have included the Griffiths Teas Building, Surry Hills and the nearby residential-converted 1912 historic warehouse at No 1 Lacey.
The heritage home reportedly has a permit for conversion, approved by the City of Sydney in 2015 with prospect of having four apartments over ground floor office spaces and artist studios.
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A rendered image of the lower ground floor, formerly the Sunday School.
The latest plans for the adaptive reuse propose a two-storey addition, rather than the four proposed.
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Carnegie and Grant will lease out the property.
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Carnegie purchased the 2080 sqm property in 2010 for $8.75 million and refurbished it in 2011 into an award-winning home.
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Described as a light, raw, freestanding lightweight structure, Carnegie’s inner-Sydney contemporary abode is a 519-square-metre private residence.
The architectural desire was to leave the existing fabric untouched in the 1926 monumental Beaux Arts building designed by church member S. George Thorp from Peddle Thorp and Walker after the 2,080-square-metre Liverpool Street site was bought in 1923 for £9,000.
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The faith was established in Sydney in 1900 and recognised by the mother church in Boston in 1902. The first services at the new premises were in July 1927.
The building, including the pipe organ, cost about £30,000. The Beaux Arts style was usually applied to financial institutions to express wealth and stability. The church had an auditorium for 1,000 people. In the 1950s the congregation bought carriage lights from the old Sun-Herald building and installed them on the outside walls.
Architectural firm BatesSmart oversaw the project which was built in 14 weeks.
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Mark Carnegie seeks tech space offices to replace his residential 1926 Darlinghurst church conversion

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Mark Bowis has quit The Agency to join Cobden Hayson.
Bowis is an inner west specialist having spent 15 year mostly on the Balmain peninsula.
He spent just one year at The Agency office led by Shad Hassen. 
Before that he was at McGrath for six years and eights years from 2004 at Sarah Lorden Real Estate, which was <a href="/news/balmains-sarah-lorden-real-estate-joins-mcgrath">merged into McGrath in 2012</a>.
His past clients include the chief of Perpetual Fund Management Geoff Lloyd who sold his Louisa Road, Birchgrove waterfront home for $3.3 million.  
In 2015 he sold 27 O'Neill Street, Lilyfield at auction for $2,585,000, setting a suburb record for a house price in Lilyfield.
His sales include 5 Simmons Street, East Balmain at $6,560,000 in 2014.
His last sale at The Agency was when etiquette adviser Alexandra Frampton, director of A Manner of Style, and her husband Peter sold their two-bedroom, two-bathroom Balmain residence for $1,475,000. 
Cobden Hayson was founded in Balmain in 1995, and is now strategically positioned in key inner urban fringe locations around Sydney, with offices in Annandale, Drummoyne and more recently Surry Hills and Marrickville.
The Agency also lost its <a href="/news/tahnee-barnes-the-million-dollar-intern-quits-the-agency">star recruit Tahnee Barnes</a>.
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The Agency Inner West loses Mark Bowis to Cobden & Hayson Balmain 

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The former McGrath agent, Michael Coombs has confirmed to Nine Entertainment that he will join LJ Hooker's Avnu, a little-known, newly launched, technology-based full-service agency operating on the lower North Shore of Sydney.
The move was <a href="/news/what-is-lj-hookers-avnu-the-much-hyped-new-avenue-in-real-estate">foreshadowed last month</a> on Property Observer.
Avnu markets itself as allowing agents and their clients to manage their sales and properties in real time through enhanced digital online software.
Avnu is based in Neutral Bay, on the lower north shore, not far from the Mosman McGrath office which Coombs departed late last year.
Coombs anticipates the current "proptech" revolution in the residential market paved the way for how homes would be sold in the future.
Coombs <a href="/news/michael-coombs-departs-mcgrath">departed McGrath</a> late last year, after two years of speculation on his future amid a fractured franchise operating within the besieged McGrath Group.
LJ Hooker picked the lower north shore - where is has operated since the 1950s - to launch the Avnu brand with its rather odd name.
With fewer than 20 sales since its office launch, Coombs could be expected to possibly turbo-charge the office which has the branding: a new avenue in real estate.
Coombs joined the agency with $100 million in unsold listings.
Avnu took over the gap left by the LJ Hooker flop, <a href="/news/settl-lj-hookers-diy-hybrid-property-sales-platform-to-take-on-disruptors">Settl</a>, a thwarted part of LJ Hooker’s envisaged $100 million digital transformation.
Avnu, run by former Google, Twitter and LinkedIn execs, aims to reshape the homebuyer experience by smoothing the process where there's an estimated 200 steps involved in buying a property, between appraisal and settlement.
It’s a separate entity to the LJ Hooker franchise model and will have its own agents.
There will be a shop front despite its cloud-based technology approach.
With little fanfare, its chairman and local resident L. Janusz Hooker launch the app mid-last year.
“It’s your normal LJ Hooker, but it’s a place where technology is driving the process for both agents and consumers," said the grandson of the company’s founder, Sir Leslie Joseph Hooker.
Jason Chuck, the chief executive of LJ Hooker Avnu, was a former local founder and managing director of eHarmony and Houzz, and before that head of marketing for Google.
Christine Mikhael, the former general manager of sales and training at McGrath LNS, has been the director of sales and performance since March.
Mr Chuck said the LJ Hooker Avnu platform is the first of its kind and offers the "next frontier of customer service in what is a very fragmented industry".
"If someone was to start a real estate agency today, this is the model they would use. It's a clean slate for what is effectively an industry start-up for the next century," Mr Chuck told Nine Entertainment.
Its customers pay the usual industry-based fees for marketing and agent costs.
LJ Hooker Avnu's early recruits include Adrian Bridges.
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"I believe Avnu is a company that is going to pioneer the way real estate is done in over the next few years and I wanted to be apart of it," Coombs told Nine Entertainment.
While he anticipates the agency will be helpful to millennials, Coombs stresses he can still service clients who prefer a traditional method.
Coombs also advised the sales commission at Avnu will be at the standard market rate.
LJ Hooker says the LJ Hooker Avnu company is owned by private shareholders while Coombs will owns shares in its flagship office.
Coombs had previously held equity in the McGrath Mosman franchise but sold it back to the principals around 20 months ago.
He was among the few McGrath agents not to take shares when the McGrath Group floated in late 2015 on the ASX.
When he left school he did landscaping for a while.
The median Mosman sale in the last six months of 2018 was $1.58 million with Ray White indicating today its office secured an office median sale price $2.15 million higher than the market after a $25 million sale.
The three McGrath LNS offices had 350 sales in 2018 with 10 above $10 million.
The McGrath business acquired Laing &amp; Simmons Milsons Point last year, taking total properties under management to 2,600 properties, the largest rent roll on the lower north shore.
The Dean Mackie-led franchise lost its McGrath operations late last year when McGrath Estate Agents provided the stockmarket with an update regarding the April 2019 renewal of its Sydney Lower North Shore franchise office arrangement.
McGrath formally announced it had withdrawn its offer to extend the franchise agreement beyond April.
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“We have a clear plan to rejuvenate our presence in the region," McGrath chief, Geoff Lucas said.
The shareholders were told by Lucas the LNS profitability had "fallen below expectations in recent years.”
The Mackie-led team, who have had the LNS operation since 2005 and have privately disputed the portrayal by Lucas, quickly formalised plans to instead open a Di Jones office this year.
The former Lower North Shore McGrath franchisees Dean Mackie and Piers van Hamburg will do so without David Howe who is retiring from real estate, with a shift into restaurants mooted.
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Michael Coombs confirmed as LJ Hooker Avnu recruit

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Nic Krasnostein, one of the leading agents in Sydney’s east and inner-city precincts, has been recruited by Ray White Double Bay.
He had been at BresicWhitney since January 2007, so just short of 12 years.
His celebrity clients through the year have included the MasterChef semi-finalist Karlie Verkerk, the Rivkin family, marketing consultant Bruce Pollack, and the hairdresser Stefan Ackerie at the Finger Wharf in Woolloomooloo.
Ray White has also signed on <a href="/news/ray-white-signs-on-matthew-carvalho-for-inner-west-expansion">Matthew Carvalho</a> as part of their inner west expansion.
It was last September when Elliott Placks took over the Double Bay agency from the founding directors, Craig Pontey and Michael Finger.
The property veterans stayed on at the estate agency as sales agents and mentors to the 30-strong sales force.
The Ray White Double Bay office sold more than $930 million in property last year, being the number one office in Ray White’s Australian network for the last seven years.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Pontey said this was a very natural succession plan which the trio had all been working towards for some time.
Placks had been at Ray White Double Bay for 15 years and as a director for the prior seven years.
Rival Double Bay agencies also appear to be on a expansionary recruitment drive cherry picking select agents from other agencies.
Jane Schumann, who has worked in real estate since 1990, quit Di Jones for Raine &amp; Horne Double Bay late last year.
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Schumann was part of the team at Di Jones Real Estate Eastern Suburbs for the previous 13 years.
She was credited as the firm’s number one agent in the east. 
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The other big name joining Raine and Horne Double Bay is Peter Starr, an agent for more than 27 years, who moved from McGrath Edgecliff.
The recruitment coup was led by the company’s head of sales, Luke Hogan, who was McGrath eastern suburbs sales manager until earlier last year.
Both Schumann and Starr were reputedly offered sign on fees.
Directed by Ric Serrao and Martin Maskin, the Raine &amp; Horne office has been recognised for the past 14 consecutive years as Raine &amp; Horne’s best performing office in both number of sales and dollar value.
Raine &amp; Horne Double Bay has been the flagship office of the Raine &amp; Horne brand since it opened in 1968, the network’s first suburban office.
In 2012, Raine &amp; Horne Double Bay acquired Raine &amp; Horne Bondi Beach, which was established in 1979.
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Nic Krasnostein recruited by Ray White Double Bay from BresicWhitney

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Consistently larger quarter-on-quarter declines saw 2018 end with Sydney house values down 10 percent at a $918,000 median, according to CoreLogic's full year index.
Melbourne also saw an accelerated decline in house values to finish 2018 down 9.1 percent to a $751,000 median, with its inner east prices hit the hardest.
Units were not as hard hit in the two major capitals, with Sydney unit values down 6.3 percent to $711,000 and Melbourne unit values down 2.3 percent to $541,000.
Overall dwelling values were down 4.8 percent across Australia, ranging from an 8.9 percent fall in Sydney values through to a 9.9 percent rise in values across regional Tasmania. 
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.
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"The broad-based weakening in housing market conditions over the 2018 calendar year should come as no surprise," CoreLogic head of research Tim Lawless said adding a variety of factors are having a negative impact on the market that could persist into 2019.
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Melbourne’s top quartile housing market led the way with dwelling values down 11.2 percent over the year, while the lower quartile of the market has remained in subtle growth territory over the year (+0.5 percent). 
In Sydney, upper quartile dwelling values are 10 percent lower over the year, compared with a 6.8 percent decline across the lower quartile of the market.
Ryde ranked as Sydney's worst performing area of 2018, with <a href="/expert-insights/buying/ryde-ranks-as-sydneys-weakest-2018-housing-market-corelogic">declines of 13 percent</a>.
Melbourne's inner east was the worst performing area of 2018, seeing <a href="/expert-insights/buying/melbournes-inner-east-the-nations-weakest-house-price-market-in-2018-corelogic">declines of 13.4 percent</a>.
The over-all 7.2 percent Melbourne decline from its peak 13 months ago compares with Sydney's 6.9 percent dip when it was 13 months into its downturn.
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Although Sydney and Melbourne recorded the weakest conditions, the peak to current declines are much less severe relative to Perth and Darwin where values have been falling since mid-2014. 
Sydney values are now 11.1% lower relative to the July 2017 peak and Melbourne values are down 7.2 percent since peaking in November 2017. 
"The downturn has been running much longer in Perth and Darwin, resulting in cumulative falls of 15.6 percent and 24.5 percent respectively," Lawless noted.
At the end of 2018, Sydney values were back to where they were in August 2016, while Melbourne values are back to February 2017 levels. 
Perth values are back to levels last seen in March 2009 and Darwin dwelling values are at October 2007 levels.
Sydney prices are still about 60 percent higher than they were in 2012.
This time last year, at the end of 2017 Tim Lawless noted that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.
Amongst the capitals, the weakest end of 2017 year conditions were concentrated in Sydney and Darwin.
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At December 31, 2017 Sydney dwelling values remained 70.8 percent higher than their cyclical low point in February 2012.
The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).
 
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Sydney house values dropped 10 percent in 2018: CoreLogic

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The vendors hoping for a Santa Claus rally in the ailing property auction market were mostly left disappointed after their weekend auctions.
Buyers traditionally tune out in the lead up to Christmas given all the distractions.
A few homes will be sold today, Christmas Eve, but most estate agents have headed off on their long holiday hibernation. 
Ofcourse some buyers will be back in the market keen for Boxing Day-style discounts from anxious vendors who've committed elsewhere and are desperate for a sale. 
The last minute pre-Christmas weekend auction offerings numbered just a dozen or so around most capitals, rather than the thousands that are regularly on offer most Saturdays of the year across the nation.
Estate agent Adam Docking recently suggested pre-Christmas listings were "a calculated risk."
“The weekend is usually very, very soft the Saturday before Christmas,” Mr Docking told News Ltd.
However the very last scheduled auction of 2018 found a buyer yesterday in Hampton Park, in Melbourne's outer south east.
There were 11 interested parties when the five bedroom late 1980s house at <a id="LPlnk816199" href="https://www.realestate.com.au/property-house-vic-hampton+park-130021094" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">3 Candlebark Close</a> sold under the hammer at the 2pm Sunday afternoon auction, just two days out from Christmas.
"A local first time buyer was the top bidder," said Elias Samili, the selling agent from Rexhepi Real Estate.
"The vendors got $13,000 over reserve," he added after the bidding kicked off at $470,000.
There was just a shortened three week auction campaign following its recent renovation.
The agent had previously told the Herald Sun that the auction date was set to suit their religious commitments, and an auction process had been selected to ensure there was an "unconditional sale this year."
Hampton Park median house prices finished off the year at $550,000, according to realestateview, having kicked off the year at $500,000.
Another first home buyer secured a $350,000 Belmont house (above) with big plans for a renovation since its currently unlivable.
The three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-belmont-130002634" target="_blank">5 Donald Street</a> was marketed as an opportunity to renovate or detonate by the McGrath Geelong agent Ricky Forte.
It had a $329,000 to $349,000 price guidance.
There was also a sale in Melbourne's Westmeadows when <a id="LPlnk256837" href="https://www.realestateview.com.au/real-estate/22-swan-avenue-westmeadows-vic/property-details-sold-residential-12269916/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Swan Avenue</a> fetched $675,000 through Barry Plant Gladstone Park.
The price guide for the four bedroom, two bathroom house had been $610,000 to $650,000.
Another Saturday auction hopeful that sold was <a id="LPlnk160395" href="https://www.realestate.com.au/property-house-vic-roxburgh+park-130004822" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">4 Korab Place, Roxburgh Park</a>.
Set on a 580 sqm block, the house has an indicative price guide of $540,000 to $580,000.
It fetched $625,000.
The four bedroom two bathroom house was marketed as having a crescent driveway with room for seven vehicles.
It had been a $200,000 building project in 2010 after the block was bought six years earlier for $154,000.
<div>All up there was 32 percent success rate in Melbourne from around 200 offerings over the past week, mostly held mid-week.</div>
<div>
<div>Sydney had some 150 offerings over the past week which saw a fatigued 38 percent success rate in the final sales week.</div>
<div>There was a $925,000 Merrylands sale in Sydney.</div>
<div>
The three bedroom home at <a id="LPlnk378703" href="https://www.propertyobserver.com.au/https://www.realestate.com.au/130026390" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1 Montrose Avenue sold through Starr Partners</a>, one of just a handful scheduled for Sydney weekend auction.
</div>
</div>
Queensland had an 11 percent success rate from the 95 auctions scheduled over the past week.
Canberra saw just 8 percent of its 30 listings find a buyer over the past week.
Adelaide was the most resilient with a 41 percent clearance rate from its 60 auctions over the past week, according to CoreLogic.
Its sales included <a id="LPlnk656681" href="https://www.realestate.com.au/property-house-sa-torrensville-130099886" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Stephens Avenue, Torrensville</a>, a four bedroom house set on a generous sized 1100 sqm holding which sold for an undisclosed price.
The 1930’s Tudor home was marketed as likely to "respond well to renovations or subdivision subject to council consent."
Auction volumes will be negligible now until early February, excepting in coastal locations.
Agents have listed dozens of fresh beachside offerings with many set for late January auction, especially on the Australia Day weekend.
Everything from a <a id="LPlnk626147" href="https://www.realestateview.com.au/real-estate/boatshed-8-point-king-beach-portsea-vic/property-details-buy-residential-12313877/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">bathing box at Portsea</a>, with $450,000 to $495,000 hopes; a 37th floor <a id="LPlnk507917" href="https://www.realestateview.com.au/real-estate/3701-crown-towers-5-19-palm-avenu-surfers-paradise-qld/property-details-buy-residential-12318110/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Surfers Paradise sub-penthouse</a> to a vacant waterfront <a id="LPlnk931582" href="https://www.realestateview.com.au/real-estate/24-the-anchorage-noosa-waters-qld/property-details-buy-residential-12301542/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Noosa Waters building block</a>.
In Western Australia there's <a id="LPlnk382" href="https://www.realestateview.com.au/real-estate/38-lanyard-boulevard-geographe-wa/property-details-buy-residential-12276339/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">a Port Geographe waterfront 838 sqm vacant block </a>with direct access to Geographe Bay set for January 19 auction.
Some beach offerings have been snapped up as soon as they hit the market including a beach shack at Berrara on the NSW far south coast that was listed at $1.75 million
<a id="LPlnk810369" href="https://www.realestateview.com.au/real-estate/18-myrniong-grove-berrara-nsw/property-details-buy-residential-12319421/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The home </a>that sits on a 1,138 sqm beachfront block quickly went under contract last week. 
The Ray White Surfers Paradise Group is gearing up for its annual auction program The Event, its flagship residential auction on Monday, January 28.
“The Australia Day long weekend will be the prime time for buyers as inquiries are traditionally up 60 per cent during January and we’re expecting next year to be no different," Ray White Surfers Paradise CEO Andrew Bell said.
</body></html>

No Santa Claus rally for pre-Christmas auction vendor hopefuls

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Jonathan Chancellor

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