<html><body>
The Sydney CBD may boast one of the most expensive retail strips in the world - Pitt Street Mall - and attract some of the biggest international fashion brands but new research has found that they city has a severe shortage of retail space.
According to Colliers International, retail in the Sydney CBD is "grossly undersupplied”, with only just 18.5 square metres per resident - the lowest in the country.
<img src="/images/stories/2013/11/05/chart-of-the-week-nov-6.gif" width="470" height="302" alt="chart-of-the-week-nov-6">
Source:  id Consulting, Deloitte Access Economics, Colliers International
Adelaide had Australia’s highest retail floor space per resident with 47.2 square metres per resident, 255% higher than Sydney.
But that shortage of retail space in the Sydney CBD is expected to change. Colliers suggests that the growing demand from international retailers, increasing city residential developments, combined with the current shortage of retail space is expected to drive the need for retail development.
The head of retail at Colliers, Michael Bate said its research had shown that "around 65,000 square metres of new retail space was planned for the city’s heart".
He believes that revitalised CBD retail precincts will be the next revolution for retail in Australia, buoyed by what he sees as a "second wave" of international retailers heading to our shores.
"With the development of so much space in the Sydney CBD, don’t be surprised if you see another wave of international brands on our doorstep, particularly a whole new range of luxury brands who are finding Australia an increasingly attractive market, " said Mr Bate.
The report identified three main categories that were driving demand for retail space in the CBD.
One was the ongoing trend of residential development in cities across Australia.
Based on its estimates, the Sydney CBD is expected to grow by more than 10,000 people over the next decade.
The other driver, it cited was the number of workers populating the city during the day.
"Sydney’s 240,000 CBD workers are supported by around 1.9 square metres of retail space per person, which is a similar ratio to Melbourne," Colliers said. "Only Perth has a lower ratio at just 0.8 square metres of retail space per worker".
However, Sydney’s worker population was expected to increase by around 58,000 people over the coming decade, putting a further squeeze on retail space, it added.
Tourists made up the third category of CBD retail users.
"With international visitor numbers to Australia increasing by 5% in 2013, the retail needs of tourists will continue to grow in line with these visitor numbers," Colliers said. It highlighted that the number of Chinese visitors in the 2012/2013 financial year grew by 17.4%, “a market that will continue to drive retail demand in the country’s CBDs".
 
</body></html>

kjiminez-eaYKfU7qd2

Sydney CBD retail space "grossly undersupplied"

<html><body>
<img src="/images/stories/2013/09/23/jll_logo.jpg" width="200" height="114" alt="jll_logo" style="max-width: 480px; display: block; margin-left: auto; margin-right: auto;">
Agent: Sam Hatcher <img style="float: right;" alt="sam-hatcher-profile" height="200" width="150" src="/images/stories/2013/11/04/sam-hatcher-profile.jpg">
Position: Manager, QLD retail investments
Company: Jones Lang LaSalle
Office Location: Brisbane
How long have you been in the industry?
I commenced my career working at Suncorp in Property Development finance in 2005 however moved to Jones Lang LaSalle Capital Markets team in mid-2006.  

Describe the most interesting property you have sold

I sold a freehold car wash in Charters Towers in my first year as an agent (tough year) without inspecting the property, meeting the owner or the vendor. That’s the power of the technology.  What are the ingredients to being successful in your job?

Finding an area within the industry that matches your personality but challenges you on a daily basis. I am driven by the competitiveness of the real estate sector.  What aspects of your role do you enjoy the most?

The myriad of personalities that you meet on a daily basis.  In addition, the skill set born from understanding value in real estate sector and how it is derived, can be applied to many different fields of investment.

Where would you invest a spare $750,000?

Any sector that’s unloved or misunderstood by the majority presents opportunity. I have learnt that timing is everything when buying or selling real estate.  Which football team do you support?

Any Queensland team.  What’s your favorite app or techno gadget?

Twitter is excellent for accessing worldwide news articles and journals.
</body></html>

In profile: Jones Lang LaSalle's manager of QLD retail investments, Sam Hatcher

<html><body>
The family-owned Green Valley Village Shopping Centre in Sydney's western suburb of Green Valley has hit the market for the first time in 40 years.  
Originally a small group of shops, the Celea family has expanded the now centre to 20 established stores, which services the local community.  
An expression of interest campaign for the 170 Green Valley Road property is being steered by Ben Stewart of Knight Frank and closes on 21 November.  
Mr Stewart said the centre had a proven 100% occupancy over the decades alongside quality tenants with established businesses. Among them are Penna’s Pharmacy, well-known local favourite Golden King 2000 Chinese Restaurant, a large medical centre and a small supermarket.  
More recently the family introduced a new Thai restaurant, Pizza shop and real estate agent, Raine &amp; Horne. The total lettable area for the centre is 2,834 square metres.      
</body></html>

Green Valley Shopping Centre hits market for first time in 40 years

<html><body>
Mum and dad investors are being offered a rare piece of prime retail real estate in Melbourne's popular Little Collins Street for between $200,000 and $220,000.
Up for grabs is a two square metre retail kiosk, at shop three in Causeway House, which is leased to food and beverage tenant Local Birds. The seven plus five year lease started in June 2009 and returns $14,038 per year plus GST.
<img alt="melbourne-oct-30-one" height="306" width="470" src="/images/stories/2013/10/30/melbourne-oct-30-one.jpg">
The retail shop, at 304-306 Little Collins Street, goes to auction on October 31 through Fitzroys senior manager Charles Emmett.
“This is an outstanding opportunity to secure affordable retail investment in an exceedingly prime and absolutely irreplaceable signature Melbourne location,” said Mr Emmett.
</body></html>

Big opportunity at Little Collins Street retail kiosk

<html><body>
A fully leased office building in Adelaide's Salisbury is being offered for sale for more than $4 million.
Receivers Kordamentha has appointed Colliers International’s Ian Thomas, Alistair Mackie and Paul Van Reesema to sell the 30 Gawler Street building.
About 50% of the building is leased to the South Australian government for 10 years, starting April 2011.
“With a weighted average lease expiry (WALE) of over five years, investors are assured of a strong return for many years complimented by average fixed rental increases of over 3.5% per annum," said Mr Thomas.
The building generates an estimated net income is $442,702 per year.
The expression of interest campaign closes on November 21.
</body></html>

Adelaide office building in Salisbury offered for $4 million plus

<html><body>
Popular sushi eatery Armanogawa Sushi Noodle Bar has secured 130 square metres of retail space in the Toowoomba CBD - south-east of Queensland.
The lease, at 517 Ruthven Street, is for five years with a five year option, at a rental rate of about $40,000 per annum.
Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith negotiated the lease.
"This retail outlet is located in one of the busiest sections of Ruthven St and is directly opposite two hotels in the CBD," said Mr Smith
</body></html>

Armanogawa Sushi Noodle Bar coming to Toowoomba

<html><body>
A private registered training company has secured an office/warehouse property at Murarrie in Brisbane’s east. EIM Training took out a three plus three year lease, at 16/17 Rivergate Place, for a net rental industry sources estimate to be about $50,000 per annum.
The deal was negotiated by Ray White Industrial Milton’s Alex Smith.
EIM Training leased the property for its Brisbane campus. EIM Training also has campuses on the Gold Coast and in Cairns.
Mr Smith said the property had about 222 square metres of office/classroom space and an 84 square metre warehouse.
</body></html>

EIM Training secures Murarrie office/warehouse lease

<html><body>
A private investor has paid $1.01 million for a fully leased Beaurepaires service centre in Melbourne's Keysborough.
Located on the corner of Cambria and Cheltenham roads, the property sold at auction for about $100,000 above the reserve price and on a tight yield of 6.17%.
It was sold subject to a new five year lease to Beaurepaires - the national tyre, wheel, and car battery retailer - at $62,355 per annum. The building is situated on a 1,671 square metre site.
Selling agents Joseph Catanese and Cameron Stuckey of Savills Australia sold the property.
"This property sold on a very strong yield which could well be a record for the area and that is really no surprise given the level of interest we received both prior to and during the auction," said Mr Stuckey.
"We are now seeing a steady increase in enquiry for this type of investment opportunity and there’s no doubt that a  significant contributor has been mum and dad investors looking for sub $1 million investments to purchase on behalf of their self-managed superfunds," added Mr Catanese.
</body></html>

Keysborough Beaurepaires service centre sells for over $1 million

<html><body>
An office/warehouse facility in Melbourne's industrial precinct of Tullamarine has sold under the hammer for $2.505 million.
The sale of the 36-38 Trade Park Drive investment property attracted a yield of 8%. 
International freight forwarder AGS World Transport leases the building, which comprises an office/warehouse facility of about 2,400 square metres.  The Australian-owned AGS pays a gross annual rent of $217,000 plus GST.
It was sold through Anthony Carbone of CVA Property Consultants.  
{qtube vid:=UcJDr6wGP8A}
</body></html>

Tullamarine office/warehouse sells for $2.5 million

<html><body>
With many of Australia's CBD office markets beset with high vacancies, particularly at the secondary level, new research has shown that the case for hotel conversion has never been stronger.

A new report from Colliers International said that the tightly held ownership of Australian capital city hotels was "the impetus for investors to examine the prospect of converting office buildings to hotel accommodation."
At present, it said there was "window of opportunity" for office conversion due to hotel values rising relative to B-grade and lower office space, which was suffering from rising vacancy and escalating incentives.  
"Hotel investors clearly have a preference for existing stock but there is presently a lack of hotels for sale so they are being forced to look at alternative options," said Stephen Burt, Colliers managing director of hotels.
He believes that well located, existing B-grade or C-grade office buildings burdened by smaller floor plates, central core and poor lease tenure ironically offered the key attributes for a good hotel conversion.
The research highlights that the feasibility of office conversion is particularly attractive in Brisbane and Sydney.
It also noted that over the year to June 2013, Investment Property Databank figures report that returns generated from the hotel sector halved to 6.3%, down from 12.8% the previous year.
However, over the last three years returns from the hotel sector averaged 11.8% compared with 9.5% for retail, 10.0% for office and 9.7% for the industrial sector.
Strong interest from sovereign wealth funds and global institutional investor has seen transaction activity during 2013 the strongest since 2007. Total hotel sales activity for the year-to-date is in excess of $1.550 billion, a 24% jump over 2012. But the figure was bolstered by just two sales - the Tourism Asset Holdings Limited portfolio for a reported amount of about $800 million and the Four Seasons Hotel Sydney for $340 million.
Colliers also noted that over the year to June, the major city hotel markets it monitored saw average revenue per available room (RevPAR) rise by 2.5%.            
   
</body></html>

Case for office to hotel conversion never been stronger

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Joel Robinson

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

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]

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News