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<p>The veteran pub family patriarch Arthur Laundy has bought the The Bells Hotel in Woolloomooloo, swooping pre-auction as an acquisitive battle continues between rival Sydney publicans across Sydney.</p>
<p>The price guidance had been around $15 million, highlighting the frothiness in hotel prices over recent years.</p>
<p>The historic 1920s pub was sold before Thursday's scheduled auction to the Laundy family which now owns almost 30 hotels across NSW, including venues such as the Watsons Bay Hotel, the Woolwich Pier near Hunters Hill and the Quarryman's Hotel in Pyrmont.</p>
<p>Laundy recently expressed concern about "silly prices", signalling he'd be steering clear of what he called a "crazy market", but The Bells was irresistible.</p>
<p>Rival hotelier Justin Hemmes had been pinpointed as also having an likely interest in buying the pub.</p>
<p>The Laundy family net worth is put at $500 million while Hemmes' is estimated to preside over a $950 million hospitality and liquor empire.</p>
<p>The 77 year old Laundy is credited as heading the biggest independent hotel operator in New South Wales, which includes the neighbouring Woolloomooloo Bay Hotel which cost $20 million two years ago.</p>
<p>It was the Miles family who called time at The Bells after initially securing the leasehold in 1976.</p>
<p>The family bought Tooth out in 1990.</p>
<p>The pub at 1 Bourke Street was known for legendary matriarch Lil Miles, who worked behind the bar until age 96.</p>
<p>Erin Petersen, from the Miles family, said there had been a number of pre-auction offers.</p>
<p>“The family has loved the 45 years at Bells and while it is the end of an era for us we are happy to sell to Arthur, a long time local publican, who we are sure will only be an asset to further develop the potential of our much-loved pub” said Petersen.</p>
<p>The sale was secured by Andrew Jolliffe who has sold more than $1.75 billion of pubs in the past six years including the Centennial in Woollahra on behalf of the Medich family to Merivale's Justin Hemmes.</p>
<p>The Laundy family company, which has been in pubs since the 1940s, includes scions Stuart, the socialite publican who briefly won Sophie Monk's heart on <em>The Bachelorette</em>, and the politician Craig, who has been the Liberal member of Reid since 2013.</p>
<p>Arthur Laundy typically fronts up every day at the Laundy headquarters in the Twin Willows Hotel, built in 1963 by his late father at Bass Hill in Sydney's south-west after the land cost 38,000 pounds. </p>
<p>The family pub business had began when Arthur's parents Arthur Sr and Veronica took on the Sackville Hotel at Rozelle in 1945.</p>
<p>It was in 1969 when young Arthur and wife-to-be Margaret took the reins of the family business, which was then just two hotels including the Twin Willows.</p>
<p>Jolliffe noted that interest in the Bells, a prominently positioned asset, was drawn from a wide spectrum of well-known hospitality operatives and commercial property specialists.</p>
<p>There have been four other hotel properties in the past few weeks, Jolliffe noted.</p>
<p>Sydney's biggest publicans include the Waugh family, the Ryan family, Peter Calligeros, the De Angelis family, the Arnout brothers, and Pat and Angela Gallgaher.</p>
<p>Hemmes and his family have ownership of 70 hotels, restaurants and venues around Sydney.</p>
<p>The sale comes on the eve of hotel giant Redcape’s billion-dollar stock market listing later this month.</p>
<p>The Bells Hotel, located adjacent to the Woolloomooloo Finger Wharf, features a main bar, bistro, courtyard, accommodation spanning the entire first level, and eight electronic gaming machines.</p>
<p>There had been a pub on the 340 square metre Bourke Street corner address since the 1860s.</p>
<p>The original ale house was called Punches servicing the workers of the wharves.</p>
<p>The Miles family lost a family member at the hotel in 2004 when Shane Miles, died from massive head injuries after being hit in the head with a bar stool during a wild brawl at his family's pub.</p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
<p> </p>
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jchancellor-FAypfDUnLy

Pub patriarch Arthur Laundy purchases The Bells Hotel in Woolloomooloo

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<p>A syndicate of five former students from St Joseph's, Hunters Hill has bought the Lady Hampshire Hotel at Camperdown.</p>
<p><span>The buyers are cellar master, Greg Parker, Chris Traill, former chief concierge of Sydney’s Park Hyatt, Matthew Comensoli, Andrew Rigney and David Vaughan.</span></p>
<p><span>They were at the school in the early to mid 1990s.</span></p>
<p><span><span>“From boarding school to the boardroom this group of mates has enjoyed consistent results, with the Lady Hampshire the next chapter to be written in this success story," Parker told the pub website, </span></span>pubtic.com.au.</p>
<p>The Parramatta Road hotel was sold by hotelier Paddy Coughlan.</p>
<p>Coughlan intends concentrating on his new beverage enterprise, Frank Strongs.</p>
<p>Coughlan retains the Lord Gladstone and Botany View Hotel.</p>
<p><span>Camperdown’s Hampshire Hotel was reopened in 2016 by Coughlan’s Bourke St group, then rebranded the Lady Hampshire to complement nearby sister venue the Lord Gladstone.</span></p>
<p><span><span>Manenti Quinlan’s Nick Butler brokered the introduction of The Lady to the former St Joseph’s students.</span></span></p>
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Paddy Coughlan sells the Lady Hampshire Hotel, Camperdown to Joey's syndicate

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<p>Big taxation reforms are rare.</p>
<p>The stamp duty bracket creep changes announced this week by the NSW State Government were heralded as the biggest overhaul to stamp duty in three decades.</p>
<p>That was true because for 32 years our state treasurers have simply taken billions in stamp duty, securing around $1 out of every $5 the state government receives as revenue.</p>
<p>I recall writing the median stamp duty would rise to $1500 after Premier Barry Unsworth's 1986 budget, as the Labor government increased stamp duty on properties sold for more than $300,000 and $1 million to the new rates of 4.5% and 5.5% respectively.</p>
<p>The typical Sydney buyer now pays $42,000 duty for their acquisition.</p>
<p>NSW residents currently pay almost $7 billion annually in taxes to shift home - some $134 million in St Leonards, $88 million in Waterloo; Kellyville buyers paid $119 million, some $109 million paid in Mosman; Riverstone $94 million and $86 million in Parramatta.</p>
<p>The tax reform will cost the state budget about $185 million in the three years after the changes slowly take effect from July 1 next year.</p>
<p>The announcement by NSW Treasurer Dominic Perrottet that the rate of increase in stamp duty will be reduced was a headline opportunity rather than leadership, being a very small step towards greater reform, rather than seriously addressing the cost of housing.</p>
<p>The government noted the changes will cut the average amount of stamp duty per property transaction by around $500 by 2021, but the savings will rise over time, presumably especially when inflation gets into a gallop again.</p>
<p>Stamp duty is levied on residential property purchases using price brackets and rates that rise from 1.25% under $30,000 to 5.02% over $3 million. The brackets have remained largely unchanged since 1986 despite the increase in Sydney property prices since then from $80,000 to its current near $1 million median dwelling price.</p>
<p>Stamp duty has become a tax regime that holds up housing turnover and impedes employment mobility. </p>
<p>It is especially an issue as the tax discourages the ageing population nearing retirement from leaving large family homes occupied by only one or two people.</p>
<p>The announcement was noteworthy as NSW will be the first state to index stamp duty brackets to the CPI. </p>
<p>It is a small signal recognising that reform is needed.</p>
<p>An audit, by former NSW treasury secretary Michael Lambert, described stamp duty as the most inefficient of NSW state taxes.</p>
<p>It recommended a ‘stamp duty replacement tax’ be phased in to replace all property transfer duties.</p>
<p>The proposed replacement tax would be based on land values rather than market values of properties and would be payable annually instead of when properties change hands. </p>
<p data-gtm-vis-recent-on-screen-6236702_632="335145" data-gtm-vis-first-on-screen-6236702_632="335145" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Treasurer Perrottet is open to further reform but emphasises any change would require the co-operation of the Commonwealth government and all the other states, given issues involving GST funds distribution.</p>
<p>The ACT government is phasing out stamp duty and replacing this with a land tax. </p>
<p>The Australian Capital Territory has Australia’s most efficient tax base – every dollar of revenue raised costs the economy just 21.9 cents.</p>
<p>New South Wales has the least efficient – every dollar of revenue raised costs the economy 29.7 cents.</p>
<p>It's time for the Federal Treasurer and Prime Minister to take up the issue at Council of Australian Governments and bang heads, just as Peter Costello and John Howard did with the GST some two decades ago.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
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NSW's stamp duty changes a good step, but further reform needed

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<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><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/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</div>
<div> </div>
<div><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/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
<div> </div>
<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
<div>
<div> </div>
<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
<div> </div>
<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
</div>
<div class="in-content-ad">
<div> </div>
<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
<div class="in-content-ad">
<div>  </div>
</div>
<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
<div class="in-content-ad">
<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
<div>
<div>
<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</div>
<div> </div>
<div><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/2018/11/12/seaview-clov.jpg" alt=""></div>
<div> </div>
<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
</div>
<div class="in-content-ad">
<div>
<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
</div>
<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
<div> </div>
<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">
<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
<div> </div>
<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
<div> </div>
<div>Even vacant land blocks are heading backwards.</div>
<div>
<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
</div>
<div>
<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
</div>
</div>
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Orderly downturn sees $500,000 losses taken at Sydney top end residential

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<p>There were 2,384 auctions held across the capital cities, returning a preliminary auction clearance rate of 46.8 per cent.</p>
<p>The average national clearance rate continued to track below 50 per cent for the seventh consecutive weekend.</p>
<p>"Given this week’s preliminary result is the lowest we’ve seen yet, it’s likely that as final results are collected, this week’s final clearance rate could come in lower again, potentially nudging the low 40 per cent range," CoreLogic auction analyst Kevin Brogan said.</p>
<p><img src="https://www.urban.com.au/images/2018/11/12/CL%2012-11%20table.JPG" alt=""></p>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"This is a considerably softer trend to what was seen over the same period last year when clearance rates were tracking around the low-mid 60 per cent range," he said.</span></p>
<p><span>The national weakening saw every capital cities sit below 50 percent, lead by</span> Melbourne and Sydney who have accounted for 83 per cent of all auctions held so far this year.</p>
<p>Volumes were relatively steady across Sydney week-on-week with 830 auctions held, up on the 813 held last week.</p>
</div>
<div class="column">
<p>The nation's top auction sale was Lakonia at Chiswick where <a href="https://www.realestate.com.au/property-house-nsw-chiswick-129465038" target="_blank">29 Hezlet Street </a>(below) sold through <span>Fayez Yammine at </span>Devine Real Estate for $5.95 million.</p>
<p><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/2018/11/12/chis.jpg" alt=""></p>
<p><span>The price guide for the five bedroom home set on the Parramatta River had been $5.5 million.</span></p>
<p>The property which attracted six registered bidders was passed in at $5.7 million who then shortly after lifted their offer by $250,000.</p>
<p>Sydney's auction clearance rate is heading toward a 30-year low, according to Domain, which had its preliminary clearance rate at 41 percent.</p>
<div class="column">
<p>Melbourne had a preliminary clearance rate of 48 percent, with 1,141 auctions held across the city.</p>
</div>
<p>It's top sale was at Glen Iris.</p>
<p>Koonwarra (below), at <a href="https://www.realestate.com.au/sold/property-house-vic-glen+iris-129602270" target="_blank">29 Dorrington Avenue</a>, fetched $3.85 million.</p>
<p><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/2018/11/12/glen1.jpg" alt=""></p>
<p><span><span>The single level residence was available for sale for the first time since it was built in 1921.</span></span></p>
<p>The price guidance had been $3.5 million to $3.75 million. </p>
<p>There was just the one bidder when a vacated timber Port Melbourne cottage (top) offering sold for $860,000, which reflected a loss on its prior sale.</p>
<p>A builder made an $810,000 bid and secured its post-auction.</p>
<p>The price guidance had been $800,000 to $880,000 for the property marketed as a blank canvas.</p>
<p>There had been a $964,000 sale of the one-bedroom cottage at <a href="https://www.realestateview.com.au/real-estate/58-station-street-port-melbourne-vic-3207/property-details-buy-residential-12175455/" target="_blank">58 Station Street</a> in June last year.</p>
<p> </p>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">29 Hezlet St, Chiswick NSW 2046, 5 br House, Devine Real Estate Drummoyne</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,950,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">29 Dorrington Av, Glen Iris VIC 3146, 4 br House, Jellis Craig Stonnington</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$3,850,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">56 William St, Norwood SA 5067, 3 br House, Klemich Real Estate - RLA174424</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,088,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">24 Garema St, Indooroopilly QLD 4068, 4 br House, Plum Property</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,805,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">47 Barrallier St, Griffith ACT 2603, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$2,650,000</td>
</tr>
<tr>
<td colspan="2">
<p>Most affordable</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">28 Bancroft St, Oakhurst NSW 2761, 3 br House, Ben Price Estate Agents</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$440,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">3/414 Blackshaws Rd, Altona North VIC 3025, 2 br Villa, Jas Stephens</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$259,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">16 Atlanta Av, Ingle Farm SA 5098, 3 br House, LJH Walkerville | Modbury</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$370,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">31 Arrakune Cr, Kallangur QLD 4503, 3 br House, LJH Kallangur</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$396,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">48 Boult Pl, Melba ACT 2615, 2 br House, Luton Properties - Kippax</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$392,500</td>
</tr>
</tbody></table>
<p><span> Source: Domain</span></p>
<p><span> </span></p>
<p>Adelaide recorded a preliminary auction clearance rate of 47.5 per cent, while in Perth only 20 per cent of auctions cleared.</p>
<p>Canberra, which had a 45 percent success rate, had its top sale in Griffith at $2.65 million.</p>
<p>The <a href="https://www.realestate.com.au/property-house-act-griffith-129623922" target="_blank">47 Barrallier Street offering</a> was a two-level modern home with three metre high ceilings.</p>
<p>The nation's cheapest weekend sale was a two bedroom villa at <a href="https://www.realestate.com.au/property-villa-vic-altona+north-129591898" target="_blank">3/414 Blackshaws Road, Altona North</a>.</p>
<p>The Melbourne offering fetched $259,000 having been listed with $240,000 to $260,000 hopes.</p>
<p>It last sold at $70,000 in 1990.</p>
<p>It was a $210 a week rental in 2013.</p>
<p> </p>
<p><span> </span></p>
</div>
</div>
</div>
</div>
</body></html>

Port Melbourne time capsule cottage goes back in price

<html><body>
<p>Macquarie Group now forecasts the current downturn in Sydney's housing market will be larger than it first anticipated, with price declines of between 15 per cent to 20 per cent likely.</p>
<p>The decline will wipe out price gains secured since 2015, putting buyers over the last three years into negative equity.</p>
<p class="_1665V undefined">The report suggests the falls to date have so far "been orderly with little evidence of distressed selling." But it suggests the fear of buying too early by buyers waiting in the wings will send the market into deeper decline.</p>
<p class="_1665V undefined">The report, headed Healthy Correction or Bruising Bust? says without any significant economic downturn the medium term, most likely scenario was several years of flat prices after the fall.</p>
<div class="_1665V undefined">“In June, we revised our expectations to be for a 4 to 6 per cent peak-to-trough fall in national housing prices and for a decline of around 10 per cent in Sydney,” wrote Justin Fabo and Ric Deverell, members of Macquarie Research’s economics team.</div>
<div class="_1665V undefined"> </div>
<div class="_1665V undefined">“Fast forward to now and it’s becoming clear that the extent of price declines is likely to be even larger."</div>
<div class="_1665V undefined"> </div>
<div class="_1lC_G"><img src="https://www.urban.com.au/images/2018/11/8/Graph%202.JPG" alt=""></div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">“The overall decline is now likely to approach 10 per cent… the largest peak-to-trough decline in nominal housing prices in almost 40 years.”</div>
<div class="_1lC_G"> </div>
<div class="_1665V undefined">
<div class="_1lwW_"><source media="(min-width: 1024px)" srcset="https://static.ffx.io/images/$zoom_0.43%2C$multiply_1%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_0/t_crop_custom/w_780/t_sharpen%2Cq_auto%2Cf_auto/663c0ff658bef82614c27caf69134bce6106e9e9"></source></div>
The report noted Sydney average dwelling prices had fallen 9 per cent already and were "currently falling at annualised monthly rates of roughly 10 per cent."</div>
<div class="_1665V undefined"> </div>
<div class="_1ysFk">
<div class="_1665V undefined">“This suggests that Sydney and Melbourne housing prices are now more likely to fall by 15 to 20 per cent from the peak."It acknowledged the fall in Sydney prices "is already one of the largest on record.”</div>
<div class="_1665V undefined"> </div>
<div class="_1lC_G">“Because of the extent of the rise in Sydney and Melbourne housing prices in recent years, even a 20 per cent peak-to-trough decline would merely take prices back to April/May 2015 levels,” they say.</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G"><img src="https://www.urban.com.au/images/2018/11/8/Graph%203.JPG" alt=""></div>
</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"With the benefit of hindsight it is now clear that the housing price correction will be deeper. </div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"Investor demand has moderated significantly amid price falls, and negative sentiment is weighing on both owner-occupier demand for housing (fear of buying too early) and the availability of credit as banks more rigorously apply lending criteria in the face of the risks associated with the Royal Commission (fear of being accused of irresponsible lending)," Fabo and Deverell noted.</div>
<p>They argued recent concerns over a potential credit crunch and Labor's negative gearing potential impact are overblown.</p>
<p>"A significant curtailment of the availability of credit should see declining average loan sizes in addition to weak aggregate lending. We are seeing neither of those." they say.</p>
<p>It also suggest the risk posed by the proposed changes to negative gearing and capital gains tax from any Labor Government "will likely be small"</p>
<p>This article was first published in the Daily Telegraph.</p>
</body></html>

Fear of buying too early will send property downturn deeper: Macquarie

<html><body>
<p>It was hard not to miss the unflappable buyers' agents lining the front (and or back) row when<em> The Block </em>Gatwick apartments went to auction last month.</p>
<p>All five of the renovated St Kilda apartments sold in the televised finale were purchased through buyers’ agents this year, just like last time at Elsternwick. </p>
<p>Buyers’ agents are licensed professionals who specialise in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers.</p>
<p>They do not sell real estate, although many buyers’ agents were previously real estate agents.</p>
<p>They are engaged independently and paid for by the buyer to act on their behalf perhaps because they don't have the time for the required research, calculation, and consideration.</p>
<p>There were times during the auctions when there was an obvious tense showdown between the auctioneer and the buyers' agents.</p>
<p>Both were doing their job, adding to the televised excitement. There was even a brief suggestion of collusive bidding.</p>
<p>Egos were there on display, as auctioneer and buyers’ agents battled to triumph. </p>
<p>There was the strategic decision by one auctioneer not to accept opening bids which were above reserve because he thought the apartment was worth much more.</p>
<p>The auctioneer then aggressively declined, at certain stages, to take small incremental bids despite having confirmed the apartment was on the market.</p>
<p>All those threatening "final" bid calls didn't have the normal impact because the auctioneer was dealing with hardened professionals, not susceptible emotional buyers.</p>
<p>The virtual absence of genuine buyers from the crowd from <em>Block</em> auctions meant the typical auction anxiety was limited to the contestants on the couch.</p>
<p>The buyers' agents were mostly playing it deadpan.</p>
<p>Buyers’ agents typically represent buyers, although <em>The Block </em>has roped them into helping the contestant understand buyer desire.</p>
<p>When the buyer's advocates joined the series, many speculated that the move was intended to help prevent a repeat of the Richmond season's dismal auction results.</p>
<p>These buyers' agents enjoy huge publicity during the series and then again on auction day.</p>
<p>One of the key aspects of using an independent buyers’ agent ought to be their ability to evaluate a property’s pros and cons objectively.</p>
<p>They’re not supposed to get emotional about the purchase like buyers do.</p>
<p>They can assist buyers retain their privacy.</p>
<p>Buyers’ agents can be a good idea for the simple fact that most people don’t buy a home or investment property on a regular basis.</p>
<p>A buyers’ agent is in the market every day, so their skills are well-honed and well placed to advise clients on how to buy the right property at the right price.</p>
<p>They also can source off-market properties before the public marketing campaigns.</p>
<p>When it comes to fees, there is no industry standard however the general rule of thumb is a around 2% commission plus GST on the purchase price. </p>
<p>Some buyers’ agents choose to charge a fixed fee. </p>
<p>It can depend how much of the service buyers seek. </p>
<p>Word of mouth recommendation is a good way to start the selection. And in the same way vendors would interview a few estate agents before engaging one to sell their home, buyers should interview a few buyers’ agents.</p>
<p>This enables buyers to compare their services, knowledge and fees and find the right one.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
</body></html>

What do buyer's agents do for real estate buyers?

<html><body>
<p>Mystery surrounds the sale of Double Bay retail and office premises that sold for $12.5 million at auction tonight.</p>
<p><span>The top bidder was Eduard Litver</span><span> who owns the retail component of the Cosmopolitan Centre on the opposite side of Knox Street.</span></p>
<p>But there are whispers Litver was bidding for the Ma family who own adjoining premises. </p>
<p><span>The family of Hong Kong press baron Ching-Kwan Ma has been buying up Double Bay in recent times.</span></p>
<p>Auctioneer James Keenan announced the 31-33 Knox Street premises on the market at $10.2 million.</p>
<p>There were just the two bidders.</p>
<p>It is sandwiched between the Savoy Hotel and the newly located ANZ Bank, which replaced the long running D'Bees Restaurant.</p>
<p>The property also comes with an additional rear access to Knox Lane.</p>
<p><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/2018/11/5/jacobs2.jpg" alt=""></p>
<p>The lower ground space is tenanted by Sportscraft, which has recently been renovated throughout with a lease that expires September 2022.</p>
<p>Christie's occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>. The executive office floor spans 250 sqm.</p>
<p>The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.</p>
<p>There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.</p>
<p>Ray White Commercial agents Jacob Fahd and Grant Whiteman marketed the property.</p>
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
<p><span>The outgoings total $64,000 including $11,000 council rates and $42,000 land tax. </span></p>
</div>
</div>
</div>
<p>The Ma family's last Double Bay purchase was $14.7 million on <a href="/expert-insights/investing/ma-family-buys-in-double-bay-for-14-7-million">Cross Street</a>.</p>
<p>There was a $12.5 million purchase by the Ma family in 2016 on Bay Street from the Perth socialite Rose Porteous.</p>
<p> </p>
<p> </p>
</body></html>

Mystery after Knox Street, Double Bay premises sell for $12.5 million

<html><body>
<p>Actress Claudia Karvan and longtime partner Jeremy “Jez” Sparks sold their inner Sydney warehouse on the eve of its scheduled weekend auction.</p>
<p>The undisclosed price was above its $2.7 million guidance for the East Redfern warehouse.</p>
<p>The four-level laneway residence sold to purchasers who lived in the neighbourhood.</p>
<p>Karvan, currently on a film shoot in the Middle East, and Sparks, an ­engineer, had owned the four bedrooms, three bathrooms space with a garage, for 15 years.</p>
<p>The 280 sqm property comes north-facing rooftop terrace with city skyline views,</p>
<p>“I can’t imagine ever leaving Redfern,” she told The Sunday Telegraph as they own elsewhere nearby.</p>
<p><a href="https://www.realestate.com.au/property-house-nsw-redfern-129470602" target="_blank">The Charles St warehouse residence</a> (above) comes with a door from a Clovelly petrol station; railway ceiling lights from Carriageworks; teak doors from Bali and a steel staircase from a 1960s factory.</p>
<p>It’s among five residences in the former clothing factory purchased by Sparks’s family in 1994.</p>
<p>The focus was on the Sydney auction market this week as Melbourne has had low auction activity due to the Spring Racing Carnival. </p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/11/5/CL-Nov5.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/11/5/CL-Nov5.jpg" alt=""></p>
<p>The 801 Sydney auctions secured a preliminary 47 percent clearance rate, which is about three percent lower than last week.</p>
<p><span>The most expensive house reported sold was a five-bedroom, mid-century house at </span>2 Coolawin Road, Northbridge (below)<span>. The property with a deep-water jetty was sold for $4.81 million.</span></p>
<p><span><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/2018/11/5/north.jpg" alt=""></span></p>
<p>Sales included five-bedroom hoarders' estate at Roseville Chase.</p>
<p>Items dating back more than half a century saw both the home and its yard full of rubbish.</p>
<p>Four of the 12 registered parties took the sale price to $1.763 million, some $263,000 above reserve for the 1100sqm holding at <a href="https://www.realestateview.com.au/real-estate/17-lockley-parade-roseville-chase-nsw/property-details-buy-residential-12168233/" target="_blank">17 Lockley Pd</a> which was was described as a “worst house, best street opportunity."</p>
<p>The buyers’ plan to rebuild.</p>
<p>In Melbourne's Fitzroy North a house vacated years ago after being gutted by fire sold for $970,000.</p>
<p>A young couple from the Fitzroy area won the keys, The Herald Sun reported.</p>
<p>There was heritage facade, but the rest of the 200 sqm space would require a full rebuild costing  another $400,000 to $800,000.</p>
<p>There were just the two bidders on the <a href="https://www.realestateview.com.au/real-estate/106-queens-parade-fitzroy-north-vic/property-details-buy-residential-12166608/" target="_blank">106 Queens Pde offering</a> (below).</p>
<p><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/2018/11/5/fitz.jpg" alt=""></p>
<p>The house was announced on the market at $910,000 by the Sydney-based vendor.</p>
<p>Melbourne's top sale was the so-called White House at Wheelers Hill which fetched $2.02 million, well above the $1,690,000 to $1,859,000 price guidance.</p>
<p>It was built by the Temelli family on the 832sq m block at <a href="https://www.realestate.com.au/property-house-vic-wheelers+hill-129499326" target="_blank">110 Grandview Rd</a> (below) bought in 1986 for $78,000.</p>
<p>They finished the grand residence about eight years later.</p>
<p><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/2018/11/5/Wheelers1.jpg" alt=""></p>
<p>Harcourts Judd White auctioneer Andrew Dimashki saw it sold to a family moving to Melbourne from China.</p>
<div class="column">
<p>Melbourne saw the most notable dip in volumes coming off the back of the second busiest week for auctions this year last week (1,709).</p>
<p> </p>
<p>There were only 264 Melbourne homes taken to auction this week, returning a preliminary clearance rate of 50.5 per cent. Last week, a final clearance rate of 48.6 per cent was recorded across the higher volumes.</p>
</div>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The first week of November saw fewer homes taken to auction across all the combined capital cities, after last week recorded the fifth busiest week for auctions this year with 2,928 offerings.</span></p>
<p><span> There were a total of 1,529 auctions held returning a preliminary auction clearance rate of 47.4 per</span><span>cent, increasing only slightly on last week’s final </span><span>clearance rate of 47 per cent. </span></p>
<p><span>"As the remaining results are collected, the final clearance rate will see its usual downward revision and likely come in lower than last week," CoreLogic auction analyst Kevin Brogan noted.</span></p>
<p><span> Over the corresponding week last year, a much higher 61.5 per cent of auctions were successful from 2,046 listings.</span></p>
</div>
<div class="column">
<p><span>Across the smaller auction markets, Adelaide was the best performing in terms of clearance rates with 57 per cent of auctions successful, while only 33.3 per cent of homes sold across Brisbane this week.</span></p>
<p><span>The Brisbane sales included a </span>two bedroom apartment in a leafy pocket of Taringa that fetched $380,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-taringa-129446218" target="_blank">1/22 Union Street listing</a> was last sold in 1997 at $397,000.</p>
</div>
</div>
</div>
</div>
<p> </p>
</body></html>

Claudia Karvan sells East Redfern warehouse pre-auction

<html><body>
<p>No-one envisaged the Sydney property boom would continue with similar gusto into 2018, which would have been its sixth year.</p>
<p>But the accelerated price reversal has caught many sellers by surprise after an extended period of double digit annual price growth.</p>
<p>Prices haven't yet fallen back by a prior year's growth, but negative equity does now loom.</p>
<p>This concern, along with not knowing just how much further there will be in falls, is creating uncertainty.</p>
<p>And property markets don't like uncertainty.</p>
<p>Falling prices are not the only factor hitting the feel good wealth effect. </p>
<p>There are the recent sharemarket wobbles, the royal commission-induced <span>tighter lending conditions, low wage growth, </span>apartment oversupply fears, high household debt and the erratic political leadership.</p>
<p>The potential implementation of Labor Government policy hitting negative gearing incentives and hiking capital gains tax also has the markets worried as the Coalition government finally gets traction on raising the contextual consequences in a falling property market.</p>
<p>We are only starting to see the shocks of uncertainty in the property market.</p>
<p>And if it continues we will see it start being a drag on the wider economy too as fears about job security could see demand for goods fall, at least temporarily.</p>
<p>The RBA has modelling that found increases in uncertainty can trigger a downturn characterised by lower employment growth, weaker retail sales growth, and a fall in consumer confidence.</p>
<p>Olivier Blanchard, former chief economist of the International Monetary Fund, wrote in 2009 after the collapse of the US financial markets that there was “(nearly) nothing to fear but the fear itself.”</p>
<p>That was obvious at weekend auctions.</p>
<p>There's enduring purchasing interest, with extreme caution.</p>
<p>Some 18 contracts were issued to potential buyers during the marketing of <a href="https://www.realestate.com.au/property-house-nsw-north+balgowlah-129409278" target="_blank">a North Balgowlah brick home </a>(pictured above) in a great bushland location with renovation upside.</p>
<p>But not one bid came at its onsite auction.</p>
<p><span>Buyers and sellers are gaining insights that real estate goes up, down and or plateaus in cycles.</span></p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
</body></html>

Property markets don't like uncertainty

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>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.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>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.</p>

<p>"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.</p>

<p><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" /></p>

<p>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.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>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.</p>

<p>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.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>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.</p>

<p>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.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>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.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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;</p>

<p>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.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"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.</p>

<p>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.</p>

<p>A major focus of the design has been the public domain.</p>

<p>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.</p>

<p>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.</p>

<p data-end="239" data-start="66">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.</p>

<p data-end="442" data-start="241">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.</p>

<p data-end="661" data-start="444">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.</p>

<p data-end="909" data-start="663">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.</p>

<p><em>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></em></p>

<p data-end="1339" data-start="1019">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.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">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.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">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.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">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.</p>

<p><em>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></em></p>

<p><em>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></em><br />
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

<p data-end="492" data-start="327">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.</p>

<p data-end="843" data-start="497">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.</p>

<p data-end="1109" data-start="848">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.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


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

<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


Jonathan Chancellor

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