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David Jones has advised it is not considering a sale of its flagship Sydney and Melbourne CBD properties, but rather their redevelopment, as profit slumps amid the internet-driven worsening traditional retail environment.
Net profits in the year to July dropped 39.9% to $101.1 million, down from $168.1 million, the second largest department store company advised today in line with earlier guidance.
While the department store has ruled out selling its four landmark CBD properties, its is still reviewing opportunities to unlock the value of its property portfolio, which it anticipates could be worth almost twice its $460 million book value.
After early reportage, by including Property Observer, its chief executive Paul Zahra said the company wasn't considering the sale of its four flagship properties in the Sydney and Melbourne CBDs, estimated to be worth $612 million, but rather merely having the properties potential investigated and "appropriately valued because there was such a wide range in the market about what the properties were worth."

"We didn't do the work to sell the properties, that wasn't our intention," he announced after the headlines interpreted the initial announcement.
"We have no plans to sell the properties.

"What we wanted to do was actually get the properties appropriately valued because there was such a wide range in the market about what the properties were worth."

The company, in an effort to reassure investors of the company's value after profit plunged over the past year, will update the market on its plans in six months. While ruling itself out as a property developer, David Jones could look at forming a partnership with a developer.
The latest property sale speculation came after David Jones announced consultants Cushman &amp; Wakefield had been appointed to ‘‘investigate opportunities to unlock and enhance the value of its property portfolio.’’
David Jones’s flagship stores on Elizabeth Street and Market Street in Sydney and on Bourke Street in Melbourne have 85,000 square metres of floor space between them and could rent for $39 million a year, the company said.
"Detailed analysis on the development opportunities of each site, including planning limitations, design, structural works and the short term impact on trading is being undertaken by the company with a view to updating the market in six months time,'' David Jones said.
The properties are the only ones David Jones owns.
Cushman &amp; Wakefield will advise David Jones "with an indication of the potential sale price of these assets assuming a lease to David Jones, or equivalent tenant, on the basis of their existing use".
But Zahra played down the suggestion it would sell and vacate the properties because of a capital gains tax issues.
He outlined a broader shift in strategy as David Jones will open six new leased store locations, <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-to-open-smaller-village-store-in-malvern-central/2012083056333">including one in 2013 in Highpoint in Melbourne's west and another store in Indooroopilly, Queensland, in 2014.</a>
The company will also open more "village format" stores that focus on fashion and beauty, which are planned to target areas with "good demographics which do not have a major shopping centre".
Last month, David Jones announced a village format store in the Malvern suburb of Melbourne.
Bloomberg reported David Jones sold its stores once, only to reacquire them in September 2006 for $362 million, to regain control of redevelopment potential and avoid rising rental payments.
The $612 million value put on the stores on Elizabeth Street and Market Street in Sydney and Bourke Street in Melbourne is about half of David Jones’s current total stock market valuation of $1.2 billion.
Australia’s largest department store company, Myer, has no significant property assets.
Last month <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-flagship-stores-have-%24666-million-potential/2012081455977">stockbroking analysts </a> looked at the issue of  the partial sale and lease back of David Jones’ flagship stores after takeover speculation.
David Jones has been mooted as a potential leveraged buyout candidate, with much of the value around its property portfolio, UBS noted.
UBS suggested the three flagship stores had a $462.5 million book value, but UBS says they could secure $666 million on-market.
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jchancellor-FAypfDUnLy

Clicks make DJs think of evaluating its heritage bricks and mortar 

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Los Angeles self-betterment entrepreneur Siimon Reynolds has secured $1.56 for his Double Bay bachelor pad.
Last traded for $788,000 in 1997, the two-bedroom 1930s apartment had undergone an extensive renovation by BKH architect Ian Halliday in collaboration with architect and feng shui master Howard Choy.
It has a bath as big as a room given his predilection to read during lengthy baths and just the aeroplane galley kitchen given Reynolds typically ate out during his bachelorhood.
His late mother, Jennifer, had spent years house-hunting with her numerical disciple son indulging his quest to find the perfect property with the right "lucky" number: apartment 3, number 1.
<a target="_blank" href="https://www.propertyobserver.com.au/news/siimon-reynolds-hopes-his-auction-number-comes-up-right-september-18/2012082056117">Title Tattle recalled the then Nationwide Realty auction in 1997</a>.
The Wiston Gardens, Double Bay abode sold through BHR agents Daniel Baran and Reece Coleman, who expected more than $1.5 million at last night's auction by Cooley Auctions. The auctioneer Andrew Cooley took 29 bids from the four registered bidders after the initial $1.4 million opening offer. Andrew Cooley had instructions to sell after the bidding got to $1,495,000.

Reynolds, who married the writer, pop culture commentator and television presenter Kathryn Eisman in a ceremony at Palm Springs in the US last year, came to fame at 21 when appointed creative director at Grey Advertising in 1986.</body></html>

Siimon Reynolds sells Double Bay apartment for $1.56 million

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 Toorak topped the week's sales with the priciest two home sales.
{yoogallery src=[images/stories/2012/09/sept19grant]}
It was a charming house on Grant Avenue that sold after auction for $4.41 million (pictured above) that narrowly beat a fiercely fought auction on Scotsburn Grove (pictured below), which sold for $4.22 million.
 
<img src="/images/stories/2012/09/scotsburn.jpg">
The Georgian-style house on Grant Avenue sold in post-auction negotiations through RT Edgar.
The nine-room house has four bedrooms and two bathrooms set on an 873-square-metre garden block with small kidney-shaped pool.
On Scotsburn Grove it was the fifth bidder into the fray at $4.1 million who eventually secured the offering, reported James Buyer Advocates' report on the Marshall White auction.
""In Balwyn, this type of home would be seen as just liveable," buyers' agent Mal James noted pre-auction.
"In Bayside they'd bulldoze.
"But in Toorak these sorts of homes seem to be kept, and renovated sympathetically."
1. <a href="https://www.myrp.com.au/n/5-grant-avenue-toorak-vic-3142/myrp-490?propertyId=13582497">5 Grant Avenue, Toorak, VIC, 3142</a>, four-bedroom house, sold at auction on September 15 by R T Edgar for $4.41 million
2. <a href="https://www.myrp.com.au/n/9-scotsburn-grove-toorak-vic-3142/myrp-490?propertyId=13588657">9 Scotsburn Grove, Toorak, VIC, 3142</a>, four-bedroom house, sold at auction on September 15 by Marshall White &amp; Co for $4.22 million
3. <a href="https://www.myrp.com.au/n/38-kardinia-road-mosman-nsw-2088/myrp-490?propertyId=4487283">38 Kardinia Road, Mosman, NSW, 2088</a>, three-bedroom house, sold at auction on September 15 by McGrath Estate Agents for $3.47 million
4. <a href="https://www.myrp.com.au/n/10-new-south-head-road-vaucluse-nsw-2030/myrp-490?propertyId=7142982">10 New South Head Road, Vaucluse, NSW, 2030</a>, six-bedroom house, sold prior to auction on September 15 by Belle Property Double Bay for $3.05 million
5. <a href="https://www.myrp.com.au/n/13-the-redoubt-castlecrag-nsw-2068/myrp-490?propertyId=1790602">13 The Redoubt, Castlecrag, NSW, 2068</a>, five-bedroom house, sold at auction on September 12 by Richardson &amp; Wrench Northbridge/Castlecrag for $3.01 million
6. 1/10 Black Street, Brighton, VIC, 3186, four-bedroom house, sold at auction on September 15 by Marshall White &amp; Co for $2.73 million
7. <a href="https://www.myrp.com.au/n/51-holdsworth-street-woollahra-nsw-2025/myrp-490?propertyId=7737983">51 Holdsworth Street, Woollahra, NSW, 2025</a>, three-bedroom house, sold at auction on September 11 by Bradfield Cleary Real Estate for $2.6 million
8. <a href="https://www.myrp.com.au/n/5-milner-street-mosman-nsw-2088/myrp-490?propertyId=4492926">5 Milner Street, Mosman, NSW, 2088</a>, five-bedroom house, sold at auction on September 15 by Richardson &amp; Wrench Mosman/Neutral Bay for $2.475 million
9. <a href="https://www.myrp.com.au/n/1-foote-street-brighton-vic-3186/myrp-490?propertyId=10011128">1 Foote Street, Brighton, VIC, 3186</a>, four-bedroom house, sold at auction on September 15 by Kay &amp; Burton Brighton for $2.33 million
10. <a href="https://www.myrp.com.au/n/51-york-road-queens-park-nsw-2022/myrp-490?propertyId=5706327">51 York Road, Queens Park, NSW, 2022</a>, four-bedroom house, sold on September 11 by Black Lifestyle Property Randwick for $2.31 million
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Toorak tops RP Data priciest 10 sales of the week

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Ken Raiss, who heads the national accounting and wealth advisory group Chan &amp; Naylor, has advised young property purchasers to get a foot on the property ladder especially as property availability in the major metropolitan areas was dwindling and demand continues to grow.
"Gen Ys popular blind faith in the property bubble popping any time soon is foolhardy," he says, adding that Gen Y could also improve their overall level of financial literacy.
Raiss suggests ditching any complacency and giving serious consideration to alternative and more strategic approaches to property acquisition such as shared purchasing and gaining parental assistance. 
"Failure to do so could see Generation Rent becoming Generation Boomerang," he said, a refence to the <a target="_blank" href="https://en.wikipedia.org/wiki/Boomerang_Generation">frequency children choose to cohabitate </a> with their parents after some years absence.
He says parental support may be an option for adult children lacking sufficient funds to get on the property ladder, "but this requires caution."
He recommends a simple and formal loan agreement to help with a deposit as safer than parents becoming co-guarantor.
"Parents have to be very careful ... being financially responsible for 100% of the children's debt also restricts what the parents can do with their future financial lifes," he told Property Observer.
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FHBs awaiting property bubble popping any time soon are foolhardy: Ken Raiss

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A 22 year-old New Zealand entrant has taken the title of best auctioneer at the Australasian Auctioneering Championships, braving difficult conditions including a mock medical emergency.
Daniel Coulson won the competition which tests entrants’ abilities to command a crowd, manage any issues at the auction and call complex bidding offers.
The competition is a joint competition held by REIA and their New Zealand counterpart, REINZ.
REIA president Pamela Bennett says, “At just 22 years of age, Daniel is the competition’s youngest ever winner and continues New Zealand’s domination of the Championships over the past several years.”
Coulson took out the title after a reportedly tight contest between five auctioneers. The other finalists were Michael Fenn (SA), Ben Brady (QLD), Andrew North (NZ) and Rob Mason (WA).
“Judges decided on a winner after the finalists were briefed on a new property to mock-sell under the hammer. The property used was mixed commercial and residential land, the bidding was fast and furious and there was even a medical emergency to contend with during each auctioneer’s frantic 15 minutes on stage. It was very exciting and highly entertaining,” Bennett says.
The competition which is open to the public, hosts 21 auctions over two days.
“REINZ has set the bar very high over the past years. REIA looks forward to gaining back some ground at next year’s Championships in Perth,” Bennett says.
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Young New Zealander takes title of best Australasian auctioneer

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Prominent property developer Luke Saraceni has lost his Supreme Court bid to remove bank-appointed receivers from the $500 million Raine Square tower in Perth.
Justice Michael Corboy ruled today in an <a target="_blank" href="https://decisions.justice.wa.gov.au/Supreme/supdcsn.nsf/PDFJudgments-WebVw/2012WASC0336/%24FILE/2012WASC0336.pdf">111-page judgement </a> that the appointment of receivers KordaMentha over one of Perth’s biggest office developments was valid.
Saraceni and business partner Hossean Pourzand lost control of the tower after missing a vital $50 million repayment to financiers Commonwealth Bank-owned Bankwest and Bank of Scotland in late 2010.
The hearing was held over five days in July 2001.
Saraceni said after the court decision that he was still intent on his damages claim arising from the conduct of financiers.
“The banks had a win today, but it clearly doesn’t affect our damages claim,” Saraceni said.
Mark Mentha, of KordaMentha, said the decision was a “strong acknowledgement” of the joint financiers’ actions.
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Luke Saraceni loses bid to remove Raine Square, Perth, receivers

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Mirvac will seek to secure mining magnate Nathan Tinkler's $17 million payment for a Newcastle industrial land purchase in a two-day court hearing next month. 

Mirvac and Tinkler are embroiled in the NSW Supreme Court legal stoush over an agreement to buy the land in the NSW Hunter region.
The Mirvac company, Domaine Steel, has already successfully sued two of Tinkler's companies, Ocean Street Holdings and guarantor Buildev Group, in the NSW Supreme Court after they failed to proceed with the purchase agreement.
Tinkler was given a court-ordered deadline to pay Mirvac around $17 million by September 1.
But after the deadline was missed, Mirvac lodged a contempt of court order to sequester Tinkler's assets.
The matter was heard on directions in the NSW Supreme Court today with a hearing date set for October 23 and 24 before Justice Michael Slattery.
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Nathan Tinkler vs Mirvac scheduled for October showdown

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Photographer Chris Colls and his wife, Ferne, have listed their Harry Seidler-designed Gissing House at Wahroonga.

They bought it in early 2008 for $2.66 million from the restauratuer Bill Granger and his wife, Natalie Elliott, who had bought it a few months earlier from the Gissing family at $2.65 million.
The Colls had a brief attempt in late 2010 to sell <a target="_blank" href="https://www.modernhouse.co/property/1134264-gissing-house">the 1972 house </a>with $2.9 million-plus hopes.
The house, which sits on a private 1,688-square-metre Water Street holding, reportedly attracted attention from actor Eric Bana at the time. Other lesser entertaiment industry stars, Tom Williams and Tim Ross, were also spotted at its then open for inspections. 
It's now listed through Marcus Lloyd-Jones at Modern House Estate Agents.
The five-bedroom, three-bathroom house – built for a family of five – remains in original yet modern condition.
The large, lofty lounge, with fireplace and wet bar, flows to a north-facing terrace, pool and level lawn. 
The original landscape scheme by landscape architect Bruce Mackenzie has been maintained through the decades.
The interiors feature oak ceilings, concrete pillars, quartzite floors and walls of glass opening outdoors.
The three-level residence came to be after Janet Gissing came to admire Harry Seidler’s architecture.
Her husband, John Gissing, bought land at Wahroonga and as dinner guests at the Seidlers in the Harry and Penelope Seidler House, they asked Seidler if he could design them a house just like theirs.
The family live there until its 2008 .
The couple operate an international company, with Ferne, the CFO at Chris Colls Photography.
Photography: ©<a target="_blank" href="https://www.chriscolls.com/"> Chris Colls</a>
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Harry Seidler's Gissing house at Wahroonga listed 

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With 50,774 national residential vacancies, landlords only benefited from a slight fall in the vacancies rate.
It was the third straight monthly dip, with the national vacancy rate now at 1.8%, according to property research house SQM Research.
Melbourne still has the highest vacancy rate among the capital cities, with a 2.8% vacancy rate and a total of 11,702 vacancies.
Click to enlarge
<a href="/images/stories/2012/09/sqmsept18.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/sqmsept18thumb.gif"></a>
Darwin has the tightest vacancy rate of the capital cities, a vacancy rate of 0.5% and a total of 114 vacancies.
Hobart recorded the highest yearly vacancy rate increase, rising by 1% to 2.7%, with a total of 730 vacancies.
Canberra and Darwin were the only capital cities to record monthly increases in vacancies, rising by 0.1 percentage points to 1.2% and 0.5% respectively.
All other capital cities either remained the same or experienced minor declines during August 2012.
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SQM detects slight shift in national vacancy rates 

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The founder of the Clarendon Homes group, Peter Campbell, is in due dilence to buy back the home building business.
Clarendon, one of Australia's top 20 home builders, is being offloaded by Morgan Stanley’s global real estate funds. In early August the Australian Financial Review wrote that while the business was not formally put up for sale, there had been an unsolicited approach by a potential buyer who was doing due diligence.
Peter Campbell sold the group to the Investa Property Group in 2004, with the business changing hands in 2007 when Morgan Stanley acquiried Investa.
No price has been revealed although it will be a fraction of the price Investa paid in 2004/2005 when Clarendon was the third-largest home builder in the country.
Investa paid about $100 million for a 40% stake in the unlisted Clarendon Property Group when the business had about $575 million in assets and $325 million in debt.
Investa then exercised its call option for the remaining 60%  in 2005. In 2006 Campbell stepped down from the board to pursue personal interests.
The then sale price included assets that are no longer within the group.
Clarendon has operations in NSW, Queensland and Victoria under a number of brands, including Domaine Homes.
The group started 935 homes in 2010-2011, ranking the 18th-largest home builder, according to the Housing Industry Association’s Housing 100 report.
Since selling Clarendon, Mr Campbell has been involved in several projects through Lindsay Bennelong including the Advanx tyre and rubber site in Rushcutters Bay, Sydney where he maintains his Sydney abode.
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Peter Campbell thinking of buying back Clarendon Homes business

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.

[smartcode_project:default project_id=149637 project_image_fid=351027]

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.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<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.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&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."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&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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