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Malaysian developer Mammoth Empire has secured a prime development opportunity in the northern fringe of Melbourne’s central business district, opposite a 55-storey residential tower it already has under construction.
The current low-rise 398-406 Elizabeth Street site was acquired from a Melbourne family for $15.1 million.
The 1,029-square-metre site on the corner of A’Beckett and Elizabeth streets is on the adjoining corner where the $250 million MY80 tower is under construction.
<img src="/images/stories/2012/12/my80.jpg">
MY80 is a 55-level glass tower on the corner of Elizabeth and A'Beckett streets with plans for the architecturally striking, 173-metre high rise to have a private rooftop nightclub-bar and lounge on its 53rd floor (artist's impression above). Retail tenants in the single-storey building latest acquisition are delivering a low passing yield of a little less than 2%, hence the site was offered by CBRE agents Mark Wizel and Josh as one for residential redevelopment. Its sale price was one of the highest per square metre prices for CBD land in the past year.
Over the past few years, Malaysian, Singaporean and Chinese-based developers have snapped up $385 million of prime CBD residential sites in the Victorian capital, with sites including the Fulton Lane project, where Malaysian developer SP Setia is building 800 apartments at 151 Franklin Street.
Last month a Malaysian investor purchased the CBD corner occupied for 57 years by the clothes manufacturer and retailer Fletcher Jones.
The 1 Queen Street asset – a double-storey showroom on a 746-square-metre block at the north-west corner of Flinders Street – sold for $11 million to an investor who is expected to lease the existing asset but resell after a redevelopment permit has been obtained.
The Queen Street sale price reflected a land rate per square metre of $14,745 was pushed up by residential developers, in the mix of 11 that submitted formal offers for the property to Savills.
“We are fielding continued interest from offshore developers wanting to acquire large development sites in the Melbourne CBD,” Wizel says.
“Interest from publicly listed Malaysian development companies remains particularly strong, with active mainland Chinese developers not far behind.”
The property services company PDS Group, which is co-ordinating the MY80 project, also negotiated the latest deal for Mammoth, which was attracted by the precinct close to Melbourne’s universities.
At 206 A'Beckett Street, the Malaysian developer recently completed its 25-level high rise with 280 apartments, with the name Pegasus Apartment/Hotel.
It was never marketed for sale in Australia when the off-the-plan sales took place at the time when federal government foreign ownership legislation  by the Labor government allowed 100% ownership by offshore interests in new residential projects.
The site was the former car dealership, near Flagstaff Gardens.
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jchancellor-FAypfDUnLy

Malaysia-based Mammoth Empire the latest Asian developer to take another piece of Melbourne residential development pie 

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Melbourne estate agents are holding twilight auctions this December in a bid to get through their freshest 11th-hour listings.
Their Saturday schedules are already full over the two remaining sales weekends before Christmas.
So the Noel Jones agency has twilight auction offerings.
There's an ultra-modern <a href="https://www.noeljones.com.au/property-details/4727727/" target="_blank">North Melbourne property </a>(pictured below) listed for December 20 private twilight auction.
<img src="/images/stories/2012/12/leveson.jpg">
It's got a very dark charcoal facade to boot. It has three first-floor bedrooms, a fully fitted 3D home theatre, a pool featuring Bisazza mosaic tiles and four-car garage. There's a huge bluestone paved rooftop.
The agency also has a Malvern East house listed the same night for twilight auction with $800,000-plus hopes.
<img src="/images/stories/2012/12/theridge.jpg" width="470">
Saturday, December 15 will be Jellis Craig’s last auction day before Christmas, but the agency has a number of mid-week twilight offerings, including a 1920s Canterbury house scheduled for December 20 auction through agent Geordie Dixon. The property at<a target="_blank" href="https://www.jelliscraig.com.au/property/CANTERBURY-8-The-Ridge/4733503/#.UL_GRuScd8E"> 8 The Ridge, Canterbury</a> (pictured above), will be put to 7pm auction. Jellis Craig agent Charles Boyd puts a 1940s Malvern East house, <a target="_blank" href="https://www.jelliscraig.com.au/property/MALVERN-EAST-75-Bowen-Street/4736799/">75 Bowen Street</a>, to auction at 6.30 on December 19.
<img width="470" src="/images/stories/2012/12/bowen.jpg">
At Mill Park, Ray White agents Lisa Reginato and Daniel Nardella have a <a href="https://raywhitemillpark.com.au/vic/mill-park/885189/" target="_blank">four-bedroom contemporary house with turret </a>(pictured below)listed for December 20 twilight auction.
<img width="470" src="/images/stories/2012/12/randell.jpg">
Tonight a builder's home in Doncaster East (pictured below) goes to twilight auction through Ray White Manningham agent Carmen Stenta. Its marketing material includes<a href="https://raywhitemanningham.com.au/vic/doncaster-east/871698/" target="_blank"> twilight imagery</a> since it's obviously a selling point.
<img width="470" src="/images/stories/2012/12/tusanne.jpg">
Only the bravest of vendors will auction Saturday, December 22.
But Hocking Stuart is trying to get buyers to turn up at an auction of a two-bedroom Preston apartment.
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Twilight auction trend to cope with the late December rush

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Yellow Brick Road has passed on the full 25 basis point reduction in the official cash rate to its Empower home loan customers. 
Its comes as all three big banks, NAB first, then Commonwealth Bank and Westpac, announced they will pass on 20 out of the 25 basis points cut from the cash rate by the RBA yesterday. ANZ advises its rate cut next Friday.
The YBR rate reduction will put the variable rate at 5.25% per annum for the first year and as low as 5.54% over the remaining life of the Empower loan.
“We negotiated hard for this .25 per cent rate reduction because we believe our clients deserve it and we want to help them enjoy their holiday season, even if that means that we have to eat some of our margin,” says Mark Bouris.
“We hoped the major banks would do the same for their customers, but with NAB, CBA and Westpac only going .20 per cent, consumers aren’t feeling the confidence that our economy desperately needs right now,” Mr Bouris said.
YBR's new variable home loan rate is effective from December 10. Its interest rate on savings deposits sits unchanged at 7.7% p.a.
It was recently announced that <a target="_blank" href="/news" title="Macquarie Group takes Yellow Brick Road into home loans market">Macquarie Group was combining with Yellow Brick Road to take a stake in the home loans market</a>, which will cause Yellow Brick Road to go head-to-head with the big four banks.
Property Observer commentator Robert Simeon predicted that under the deal, Yellow Brick Road would actively undercut the big banks.
"The big four have actively acquired all the second-tier banks to protect their market share, which is approximately 80% of the Australian home loan market," <a target="_blank" href="https://www.propertyobserver.com.au/trends/yellow-brick-road-likely-to-be-the-first-to-respond-to-the-next-rba-rate-cut-robert-simeon/2012111157732">Robert Simeon wrote</a>.
Its Cup Week launch of a variable-rate mortgage pitched at a 115-basis-point discount resulted in a 120% surge in written business, achieving $320m for the month.
YBR had started advertising on the Nine Network, its 19.9% stake holder, but postponed the slots as it couldn't keep up with the inquiry rate.
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Yellow Brick Road passes on the full 25 bps reduction with Macquarie Group firepower

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A two-bedroom Paddington cottage, set on an inner-Sydney 70-square-metre landholding, was snapped up before its scheduled weekend auction for $825,000.
The Paddington Lane cottage last traded at $812,500 in July 2010.
<img src="/images/stories/2012/12/padlane.jpg">
The late 1880s renovated property is set to be rented out at around $825 a week by its new investor owner.
It traded for $545,000 in 2002 and at $515,000 in 2001.
Before that it traded at $306,000 in 1997 and at $125,000 in 1991.
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-paddington-112287691">Maclay Longhurst of BresicWhitney</a> secured the latest sale after around 125 parties inspected the offering.
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Pocket-sized gains for Paddington Lane, Paddington offering

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Following today’s Reserve Bank of Australia (RBA) meeting, the Bank of Queensland  has announced it will pass on a 20 bps rate cut. CEO Stuart Grimshaw said the 20 bps rate cut brings BOQ’s standard variable rate home loan to 6.51% p.a. effective from Friday, 21 December 2012.
For the past year BOQ has consistently announced its rate change on the same day as the RBA meeting. “This decision has provided a level of continuity and certainty for our customers and I believe they have appreciated it,” he said. Mr Grimshaw said BOQ was conscious of the pressures facing all customers at this time of year, including those with home loans and those with deposits, and believed the 20 bps cut would strike a fair balance between the two. 
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Bank of Queensland quickly cuts by 20 basis points

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The Sydney-based former Queensland premier Anna Bligh, recently appointed by the federal government to the board of health insurer Medibank Private, has sold her south Brisbane home, which went to recent auction with $1 million-plus hopes.
There were five registered bidders, but not a single offer at its September auction.
Bligh co-owned her renovated <a href="https://www.raywhitesouthbrisbane.com.au/property/STB4471003" target="_blank" rel="nofollow">1890 Highgate Hill </a>home with her husband, Greg Withers, having bought it in 1997 for $290,000.
After its $900,000 vendor bids, it was listed through Ray White South Brisbane.
It was marketed as a four-bedroom, two-bathroom house oozing "charm and character of a bygone era".
It has a land value of $710,000.
A nearby three-bedroom house on a similar 827-square-metre block fetched $900,000 last year, and a four-bedroom house fetched $825,000 in 2010.
Bligh has been renting in Sydney's inner east before buying, spotted recently at a Paddington open for inspection.
Her move to Sydney came following Withers taking a job at Arts NSW.
The couple also own investment units in West End and Highgate Hill, which have not been listed for sale.
The RP Data median house price for <a href="/news">Highgate Hill </a>was $755,000 when she initially listed, having dropped 2.6% in the past year, and now sits at $744,000, reflecting a 4.3% annual drop.
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Anna Bligh sells her Highgate Hill home

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There's almost no more ultimate terrace house address in Sydney than owning on Paddington Street, Paddington.
And that's just where the former Queensland premier Anna Bligh has been spotting house hunting.
Everyone knows she's been looking – though Property Observer has the first confirmed location – since she and her husband, Greg Withers, have been renting after he took a job in Sydney earlier this year.
''We are looking to rent for 12 months while we get acquainted with the Sydney property market,'' Bligh told the local paper after her August arrival when Withers began as a senior executive in Arts NSW.
And Bligh, who said she would ''always regard Queensland as my home", seems to have kept herself busy with Saturday open for inspections. With around $2 million to spend, it won't be at the pointy end of the <a href="/news">Paddington</a> market, but certainly above the suburb median which RP Data says sits around $1,325,000,  down 9.1% over the past year.
Paddington's most recent sale was last night when Brad Caldwell-Eyles at<a href="https://www.1stcity.com.au/Buying/Search/Detail.aspx?id=HCES248&amp;wlid=06e16cb5-0826-495e-857e-5d023e3f94d1" target="_blank"> 1st City Hasemer + Caldwell-Eyles </a> secured $3,425,000 for 138 Glenmore Road Paddington at Cooley Auctions. It sold at mortgagee auction having last traded at $3 million in 2004. 
There are currently 34 houses for sale in Paddington, advertised on realestate.com.au.
There are five on Paddington Street and one on Paddington Lane.
The listings include <a href="https://woollahra.ljhooker.com.au/1Y6GP8" target="_blank">13 Paddington Street </a> which has been listed for sale since May this year through LJ Hooker Woollahra agent Michael Stavianos by the Stravrianos family.
The imposing offering at <a href="https://rweast.com/nsw/paddington/832179/" target="_blank">133 Paddington Street </a> is for sale at $2.5 million through agent Richard Carwin. The Ray White Paddington office initially listed it in August 2011.
The fresh offering (pictured above) at <a href="https://www.ballardproperty.com.au/Buying/Auction-Timetables/residentialdetail.aspx?id=WOOLLAHRA%202012091&amp;wlid=c451b1f6-9eb0-46c9-bf9c-36594a0b42fb" target="_blank">84 Paddington Street </a>went to November auction through Ballard Property Group agent Mark Lowe.
With Harbour views from some of its four levels, the six-metre-wide terrace was on the market for the first time in more than 30 years. It sits on a 190-square-metre parcel of land.
Another fresh listing that didn't sell at its November auction was <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/168931" target="_blank">168 Paddington Street</a>. It last sold in 2009 at $1.78 million.
The <a href="https://www.bresicwhitney.com.au/real-estate/Buy/Auction-Times#top" target="_blank">1 Paddington Lane </a>offering is a timber cottage which goes to auction this weekend through Maclay Longhurst of BresicWhitney Estate Agents. 
It was <a href="https://www.propertyobserver.com.au/new-south-wales/listing-of-%2411-million-could-smash-paddington-record/2011092251645" target="_blank">September 2011 when the suburb's priciest listing hit the market, and remains for sale through McGrath agent Ben Collier</a>.
The Leal family, who made their money as owners of Super Smash, the Bondi smash repairer, listed their grand Paddington Street home with $11 million hopes.
It wasn't their first foray into record-setting Paddington listings, as they sold their previous double-fronted offering for a record $4.52 million in late 2004 to investment industry bigwig Andre Morony and his wife, Beverley, through McGrath agents James Dack and Ben Collier. It was a four-level, six-metre-wide terrace standing on a 202-square-metre block.
The latest offering is described by Ben Collier as "arguably one of Paddington’s finest homes".
The north-facing terrace is set on a 390-square-metre block of land, located at the Woollahra end of Paddington Street.
It has four levels with lift access. The double-fronted terrace spans 12 metres in width.
The two now amalgamated terraces were consolidated in 2000.
The Paddington record residential price is $7.75 million when a Goodhope Street Dunkley Developments residence sold through Bickmore-Hutt agent Damien Bickmore-Hutt in April 2010.
There had been an earlier $7.75 million sale in 2006 when stockbroker Neville Miles sold in Union Street.
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Anna Bligh seeks out Paddington purchase possibilities

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The Balwyn home of the Health Services Union national secretary Kathy Jackson now has a $1.99 million asking price guide, having been listed previously with $2.1 million expectations.
The four-bedroom house passed in at its September auction on a $1.85 million vendor bid through Fletchers agents Jeremy Desmier and Daiman Kane.
The tree-lined <a target="_blank" href="/news">Balwyn </a>property is being marketed as a "developer's dream", given it's a 1,452-square-metre block.
The four-bedroom, three bathroom house sits on part of the holding, easily allowing some land to be sold or redeveloped.
It was transferred into Jackson's full ownership by her former husband, Peter Jackson, in March 2010.
It last traded at $1.15 million in 2004.
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HSU official Kathy Jackson's Balwyn house asking price reduction

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The Sydney-based Iris Capital has bought the Mercure Potts Point – formerly the Crest Hotel – in Sydney’s Kings Cross, with plans for its eventual residential conversion.
Australand Property Group secured $65 million, with other buying interest reportedly from from Singapore-listed Hotel Grand Central and developers including Mirvac Group.
<img src="/images/stories/2012/12/cresthotel.jpg">
Iris joint managing director Sam Arnaout says Iris will redevelop the site given they view the sum of the property’s parts, worth more than the current hotel offering.
Iris is considering a mixed-use retail plus residential for the upper levels with the expectation of high purchaser demand. From 1995 Iris had had the strategy to acquire freehold venues in suburban Sydney with strong gaming revenues, solid retail trade and underlying land values. Its focus was mostly in Sydney's south-western residential corridors. 
After successfully building a portfolio of pubs valued at $350 million, in July 2007, with the introduction of smoking legislation and with yields at their peak, Iris sold all but two of its pubs.
<img src="/images/stories/2012/12/cresthotel2.jpg">
Conversion of Kings Cross hotel rooms to apartments has been a strong trend since the Sydney Olympics.
Between 2000 and 2002 conversion of mainly older hotels took 2,000-plus hotel rooms out of the market, mainly around the Kings Cross and inner-city fringe districts.
The hotels converted included well-known landmarks such as the Gazebo, Top of the Town, the Sebel Townhouse, Hampton Court, Oxford Koala, Chateau Hotel, the Rex and Madison's.
Iris plans to keep Accor on as hotel operator while it formulates its plans.
It has strong income from the ground-floor pub and its 30 gaming machines – one of the top-25 gaming pubs in NSW.
Over the past five years Iris has remodelled other hotels adding luxury units creating the Clovelly Hotel and Cove Apartments and the Hunters Hill Hotel and Maison Residences.
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Crest Hotel set to continue Kings Cross hotel residential conversion trend 

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Last sold in 2006 at $4.85 million, Coombe Grange, a heritage-listed Tudor Revival-style Cronulla house, has been listed for sale.

The 2,637-square-metre Taloombi Street estate almost commands beachfront prices, albeit with freehold pathway access to Gunnamatta Bay.
It's been listed through McGrath agent Sean Egan for December 15 auction. Around $5.95 million is tipped.
Taloombi Street beachfront prices hit $6.9 million in 2007, with four subsequent sales above $4 million.
The <a target="_blank" href="/news">Cronulla </a>house, with Queensland maple timberwork plus diamond-shaped leadlight windows, sandstone fireplaces and ballroom, comes with a tennis court, pavilions and pool.
The house initially hit the headlines in the early 1990s when a mortgagee sale in 1991 secured $970,000 after the catering industry manufacturer Patricia Poulos, founder of the Centre Unity Party, lost the house pursuant to her Commonwealth Bank indebtedness.
The $360,000 debt, with interest, had soared to $1,019,000 during lengthy contest court hearings.
It was last sold in 2006 by the Burke &amp; Shute estate agent Chris Burke who'd had the house leased briefly to $2,000-a-week tenants Robert Bassili and Nicholai Dimitri Popov, who'd ran the ill-fated Radisson Maine property lending group.
The house was designed by architect Spencer Spasfield for Reginald and Florence Snelling who'd operated a Glebe printing business.
The house was completed in stages, including the addition of the ballroom in 1925.
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Sutherland Shire Tudor Revival heritage mansion Coombe Grange in Cronulla listed

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<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/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

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Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Jonathan Chancellor

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