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The Riverlakes Shopping Village in Brisbane's Cornubia has been listed for sale.
Originally developed around 1992 and refurbished in 2011/2012, the centre occupies a site of 14,439 square metres on the Beenleigh-Redland Bay Road.
The complex is anchored by an IGA Supermarket, Chemist Warehouse and Medical Centre and supported by a mix of specialty tenants including Bottle Shop, Newsagency, TAB, Bakery, Seafood Takeaway, Hairdresser and a drive-through Zarraffas Coffee cafe. It also features a freestanding childcare and fitness centres, as well as grade-level parking for about 186 cars.
The marketing campaign is being handled by Peter Tyson and Michael Harcourt of Savills retail investment aales.
Mr Tyson said the property is expected to generate strong interest from a wide range of investors, including private buyers, self-managed super funds and consortiums. 
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Riverlakes Shopping Village in Cornubia, Brisbane listed

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Positive signs are emerging for Brisbane's industrial property market, with prime rents kicking 2.5% in the 12 months to March, a new report has revealed.
The spike in rents was just one of the upbeat themes outlined in Savills latest Spotlight on Brisbane industrial research report, which also showed growing tenant demand for pre-leased quality industrial space across Brisbane.
A lot of this increased focus on the pre-lease market, said the report, could be attributed to the competitive nature of this market, "where new builds can be more competitive with the rental rate than existing properties".
“Leasing activity is particularly strong for prime grade quality warehousing, especially free-standing product,” noted Savills Queensland associate director of research, Helen Swanson.
“This has led to 2.5% rental growth for prime grade product over the 12 months to March 2014."
<img src="/images/2014/05/13/chart%20may%2013%20one.png" alt="">
Boding well for the market has also been the number of significant pre-commitments from major companies in the last quarter. Among them DB Schenker and Northline at Redbank and Kagan Logistics at Hemmant.
"There is also anecdotal evidence suggesting a number of other major pre-commitments may also be in the pipeline for the Brisbane market,” said the report.
The transport and logistics sectors were identified as the most active in the Brisbane industrial leasing market, accounting for 25% of all leasing activity in the 12 months to March. The wholesale and retail sectors were the next biggest movers, accounting for 19% of all leases.
"The resurgence of the residential market within south-east Queensland has also see a huge increase in demand from the building supplies industry with many of these companies taking advantage of the lower rental rates offered by secondary product", it said.
"There is still however a lack of urgency in the tenant market with the perception that supply outweighs demand."
Those two sectors are forecast to achieve strong growth over the next five years and should continue to be major takers of space in the Brisbane industrial market.
"These users are looking for efficiency gains and the option of brand new mega-style warehousing is appealing to some of the larger players,” added Ms Swanson.
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Spike in Brisbane industrial prime rents

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Name: Adam Barrett<img src="/images/2014/05/12/barrett-profile.png" alt="" style="float: right;">
Position: Director - office leasing
Company: JLL
Office location: Brisbane
How long have you been in the industry? 
17 years
What’s happening in the area you specialise in?
The Brisbane office leasing market is challenging at present with limited demand and record high vacancies. Though we have witnessed general activity and tenant interest in new accommodation increasing significantly in 2014 due to the attractive incentive levels now on offer from landlords. We see general sentiment in the office market improving over the next couple of years as business confidence grows and economy gets back on track.    
Describe the most interesting property you have sold?
I have only ever sold some Strata titles units for Honourable Con Sciacca which was very interesting in its self as my focus is on office leasing. The most interesting and most rewarding project that I have been involved in to date was pre-committing 145 Ann Street for Leighton Properties.
This was done at the height of the GFC when securing both the tenants and the funding package for a new office project was very difficult. We were successful in securing 19,000 square metres of pre-commitments to GHD, CUA and Grant Thornton, enabling the commencement of construction of the 27,000 square metre office tower.
What are the ingredients to being successful in your job? 
Office leasing is a game of highs and lows and you need to be able to stay focused through both cycles. Hard work and persistence is needed at all times. Building and maintaining relationships is the key to successful agent. 
What aspects of your role do you enjoy the most? 
I enjoy the day to day contact with a variety of different people and personalities. It really is people persons game and the job  continually throws up many different challenges which keeps it interesting. 
Where would you invest a spare $750,000
I've normally been a high risk high returns type of person but now I have two kids at school and costs are continually growing so I think I would invest more cautiously in blue chip stocks like the CBA or BHP seeing the year on year profits these companies are making.
Which football team do you support? 
Queensland Reds and Brisbane Broncos
What’s your favourite app or techno gadget? 
I love my iPad. I read the paper on this most days and search the weather forecasts for the weekend when I go boating etc. 
How do you use social media?
I'm not overly into social media from a personal perspective, however I do ensure the <a href="https://twitter.com/JLLAustralia" target="_blank">JLL twitter account</a> always carries details of deals, commentaries and trends. How do I use social media? I don’t really. I haven't caught on to whole twitter thing but I do have a Facebook account now.  
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In profile: JLL's director - office leasing, Adam Barrett

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GUEST OBSERVATION
The substantial increase in electricity prices over the past decade has seen building owners becoming increasingly conscious of the impact that heating, ventilation and air conditioning (HVAC) units are having on their bottom line.
These units account for around 40% of a building’s energy expenditure and 70% of a landlord’s total energy bills. Data also shows that at least 15% of this consumption is attributed to faults and inefficiencies – issues normally addressed at intervals decided by building maintenance teams, not at the point of malfunction.
These constant faults and inefficiencies are leading to high tenant dissatisfaction due to poor conditions, lower National Australian Built Environment Rating System (NABERS) star ratings, increased carbon emissions and of course, skyrocketing energy bills.
For this reason I’ve spent the past two years developing the ACE Platform, capable of identifying and correcting faults and inefficiencies in HVAC units in real time.
It works by digging into multiple data sources including building management systems, sensor and control data, occupancy figures and weather data, and feeding it into a cloud-based analytics engine.
It then recreates the structure of the plant and equipment virtually, determining optimal energy usage and generating reports at points where actual energy usage deviates from this norm. These reports are issued to building owners and maintenance teams in a simple, specific and actionable format – allowing issues to be addressed before they become a tenant complaint or begin to cost thousands of dollars. 
The ACE Platform was recently trialed at large commercial shopping centre Wollongong Central where it was shown to save the property owner $5,250 on energy every month – a forecasted saving of $63,000 per year.
Though the trial was on just one site, with many owners holding over 50 sites in their portfolios the savings the software platform could deliver to a business could amount to millions of dollars per year. Greater tenant retention rates and increased NABERS ratings could also deliver greater returns to shareholders through an increase in the value of the asset.
David Walsh is chief executive officer of CIM Environmental Group.
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Could this be the future of building optimisation?

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Westfield Group has succumbed to shareholder pressure and announced it will be improving the terms of its proposed merger for Westfield Trust unit holders by $300 million.
Under the adjusted proposal, Westfield will reduce the net debt contributed by the group's Scentre Group - made up of the Australian and New Zealand businesses- by $300 million to $6.8 billion.
As a result, Scentre Group’s pro forma net assets, at 31 December 2013, will increase from $14,980 million ($2.82 per security) to $15,280 million ($2.88 per security).
Pro forma gearing will reduce to 37.3%. Slightly above Scentre's targeted range of between 30-35%.
Last December, Westfield proposed splitting up its $70 billion empire to create an international entity to be known as Westfield Corporation.  The rest of the business would be known as Scentre Group - to be made up of its local and New Zealand operations, along with the Westfield Retail Trust (WRT).
A number of WRT unit holders had reportedly expressed concerns about the price of the merger deal and the consensus was that proposal would be voted down at the extraordinary meeting in late May.  
Westfield Group chairman Mr Frank Lowy AC said: “We have met with key investors in both WDC and WRT, the overwhelming majority of whom support WDC’s strategy of restructuring along geographic lines and merging the Australia/NZ business with WRT". " In response to some concerns raised and in consultation with the independent directors of WRT, WDC has decided to improve the merger terms for WRT security holders.”
“The change improves the terms on which WRT security holders are gaining their ownership interest in WDC’s industry leading operating platform." At the same time, he said, the adjusted terms improved the financial position of Scentre Group by reducing its gearing ratio and enhancing its Funds from Operations (FFO).
The transaction is now expected to deliver a 6.6% accretion to WRT’s forecast 2014 FFO. 
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Westfield Group improves trust merger terms

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One of the country's biggest office landlords has said "positive indicators" were emerging from Australia's office market in 2014.
In a March quarter operational update, GPT chief executive Michael Cameron said GPT was experiencing "good momentum" with 37,000 square metres of office lease signed or at heads of agreement.
He made a point of saying that GPT had seen "positive indicators in 2014, with levels of enquiry continuing to improve and vacancy across its portfolio reducing to 8.9% at 31 March 2014".
Highlighting the point, GPT noted its announcement this week that top law firm King &amp; Wood Mallesons had signed a new 11,980 square metre lease at its Governor Phillip tower in the Sydney CBD.
His comments were part of a broader update on the trust's performance.
Comparable moving annual turnover (MAT) in the quarter grew 1.5%, while specialty sales growth rose 4.4%.
Mr Cameron said it was please with the positive momentum of nine consecutive months of specialty sales growth at its centres, "however we remain conservative on the broader retail market with our medium term outlook for shopping centre sales, and rents remaining unchanged."
It is anticipating moderate growth. 
Management also noted that its logistics development pipeline continued to expand and that its $7.2 billion funds management platform remained a solid performer, and was poised to "substantially grow throughout 2014".   
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"Positive indicators" emerging in office market: GPT's Michael Cameron

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A commercial building with a long-term tenant in Brisbane’s Strathpine has fetched $2 million.
A private investor picked up the 2,200 square metre property, at 3/104 Gympie Road, Strathpine.
The sale reflected a yield of 8.5%.
Handling the sale was Dillon Murphy and Trevor Nelson-Jones of Ray White Brisbane Northside.
The building is leased to Inside Sportz, with a returning rental income of more than $170,000 per annum. The lease is in place until 2017, with a five year option.
“The sports centre is situated on approximately 3,382 square metre of land and features indoor cricket, netball, soccer and beach volleyball facilities", said Mr Murphy. 
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Sports centre in Strathpine, Brisbane sold for $2 million

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A Camberwell shop and dwelling in Melbourne has sold under the hammer for $1.1 million.
The property was offered with vacant possession and purchased by a local investor, who has plans to refurbish and re-lease the property.
It sits on a land area of about 177 square metres at 931 Bourke Road, and features a two-level building of about 200 square metres with ground floor retail plus first floor residence.
Fitzroys agents Michael Ryan and David Bourke negotiated the sale. The vendor was  a local family, who had owned the property for more than 30 years.
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Camberwell shop sells for $1.1 million under the hammer

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The Caloundra Suncourt motel on the Sunshine Coast has been sold for $1.4 million. 
The prominent motel with redevelopment potential is located at 133 Bulcock Street and was sold to a local investor.
Len Greedy and Alan Gray of Ray White Commercial Caloundra handled the transaction.
Constructed on a 1,518 square metre block of land, the motel comprises 12 rooms split over two levels and includes a three bedroom manager’s accommodation.
Gray said redevelopment options for the property were varied and could include a mix of retail, office, medical and also residential units with water views.
He added that the purchaser had leased the motel operation to an experienced motelier for a limited period while he worked through the redevelopment potential for the site with an architect and town planner.
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Caloundra Suncourt motel sells to local investor

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A Chinese developer has snapped up an open plan office in the Melbourne CBD for $1.26 million.
The 420 square metre office suite is located at 20 Queen Street and features a boardroom and executive offices.
Tom Tuxworth, Chris Pharr and Ed Wright of CBRE Strata Projects negotiated the sale.
The agents said the property attracted an unprecedented level of buyer enquiry, with five expressions of interest to purchase.
The sale price equated to a rate of $3,000 per square metre.
Tuxworth said the new owner planned to use the property as its new Melbourne headquarters.
“Offshore developers who have been highly active in purchasing large development sites in the Melbourne CBD are now looking for commercial office space for their headquarters,” Mr Tuxworth said.
“Offshore groups are now competing with local owner occupiers and investors, resulting in competitive buyer demand and strong prices consistently achieved.” 
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Chinese developer buys Melbourne CBD office

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Katherine Jimenez

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