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China's love affair with Australian real estate market is growing, with at least $1.5 billion set to be invested locally in over the coming years.
Recent research from CBRE revealed that Chinese insurance funds, alone, had about US$14 billion available for overseas real estate investment. Australia was among a handful of countries it identified as "key targets" for that money.
Underpinning the attraction said Cushman &amp; Wakefield director of investment sales, Mr Tony Dixon was that "Australia was high yielding".
Yields had been compressing in other regions of the world, he said, but that it hadn’t happened to the same extent in Australia. Political stability, transparency and the positive property fundamentals were also appealing.
In the last 12 months, he estimates more than $1 billion has been spent by Chinese investors buying local real estate.
In a paper last month on Chinese investment in Australian property, Colliers International identified that investment was coming from four major sources: Banks and financial institutions; Developers with global ambitions;  large state-owned enterprises (SOEs) and China sovereign wealth funds (SWFs) and high net worth individuals.
The Colliers paper also said that while the increase in Chinese investment in the Australian residential property market has been widely reported, statistics show that Chinese investors are putting their money into a wide range of commercial property assets.
“While first time private investors may start by looking at residential investments, the more experienced investors have a broader appetite, and we’re receiving interest across a range of asset classes from farmland and wineries through to retirement, hotel, retail and large office building assets,” said Steam Leung, director of investment sales at Colliers International, who heads up the company’s Asian Division.
“However the most common enquiries are seeking Commercial A and B-grade offices and residential sites.”
Colliers estimates that Chinese investors have spent more than $600 million in the year to date on residential development sites in Sydney alone, with plans for almost 5,000 units on these sites.
Mr Dixon said that the indication from Chinese groups was that at least a further $1.5 billion could be invested in Australian real estate. But he emphasised that "if deals show themselves, they will do a deal".
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Australia identified as a 'key target' by Chinese insurance funds

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The glut of office sublease space facing most Australian capital cities appears to have peaked.
A national review of the sublease office market by CBRE, titled Sublease Barometers - showed that the amount of sublease space is hovering between 70,000 square metres and 80,000 square metres in Sydney, Melbourne, Brisbane and Perth.
And while the figures are above historic average, the expectation was that no significant tranches of new sublease space were expected to come to the market in the near future.
<img src="/images/stories/2013/10/29/chart_of_the_week_oct_29.jpg" width="470" height="250" alt="chart_of_the_week_oct_29">
Source: CBRE
CBRE regional director, office services, Andrew Tracey pointed out that "much of the available stock is subject to very short lease tails with expiries in 2014 and 2015." 
"This is more of a deferred direct hidden vacancy issue given the inherent difficulty in leasing space with less than a three year lease expiry.
"Much of this stock is expected to revert back to direct vacancy, which will significantly reduce the volume of available sublease space."
In short, CBRE believes that the availability of office sublease space nationally is likely to have peaked
In assessing the state of the national office sublease market, The Sublease Barometers tracked both the volume of sublease space, the trends occurring within different industry groups and market sectors in the major capital city markets.
The results varied significantly between the small and bigger cities. Canberra recorded the least sublease space available at just 8,553 square metres in September. Conditions are expected to change any day as various government departments are restructured, leading to public sector rationalisation.
Market influencers also varied by city. It said the mining sector, as expected, had a much more significant influence on the Perth and Brisbane markets given the recent slowdown in this sector to which both cities have a high exposure.
At the same time, Brisbane’s high exposure to government tenants also resulted in that city being hit by Queensland state government job cuts and consolidation, with almost 2,500 full-time equivalent jobs in inner Brisbane cut from the Queensland public service in 2013, CBRE said.
While Sydney's high exposure to the finance industry saw it hit hard by the low sentiment in that sector.
But Mr Tracey noted that employment in the Sydney finance and insurance sector had increased by 4.5% in the September quarter, surpassing the national figure of 0.4%.
"With this sector being the main contributor of sublease space, overall availabilities may start to decline as business sentiment improves,” he said.
He concluded by saying that the national office leasing market was expected to show signs of improvement in the second half of 2014 and early 2015 as business confidence improved.    
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Glut of national office sublease space appears to have peaked

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<img src="/images/stories/2013/10/29/KF_STACKED_RGB.jpg" width="200" height="75" alt="KF_STACKED_RGB" style="display: block; margin-left: auto; margin-right: auto;">
Name: Greg McAlpine<img src="/images/stories/2013/10/29/greg-mcalpine-profile.jpg" width="150" height="200" alt="greg-mcalpine-profile" style="float: right;">

Position: National director of office leasing

Company: Knight Frank

Office Location: Perth
 
How long have you been in the industry?
 
I have been working in the property for 27 years.


What’s happening in the area you specialise in? 
 
The Perth office leasing market has softened over the last 18 months. That said, we do expect to see demand pick up in the Q1/Q2 next year.


Describe the most interesting property you have sold?
 
An OPSM glasses factory in Bayswater. It was a really interesting property as it gave me a “behind the scene” look into the technology that goes into making glasses, different styles and the strength of the glass that actually goes into the glasses.


What are the ingredients to being successful in your job?
 
Hard work, discipline and doing what you say.


What aspects of your role do you enjoy the most?
 
Meeting and talking to new people every day.


Where would you invest a spare $750,000?
 
In Perth residential within a 7 kilometres radius of the CBD.


Which football team do you support?
 
The Fremantle Dockers - At last, some success!


What’s your favourite app or techno gadget?
 Favourite 

gadget is my TENS Machine (Transcutaneous electrical nerve stimulation) a must for tennis tournaments to get the aching knees and shoulders through three or four days of tennis straight.
How do you use social media?
 
<a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/greg-mcalpine/50/903/55" target="_blank">LinkedIn</a> for keeping up to speed with the industry news and connected with contacts.
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In profile: Knight Frank's national director of office leasing, Greg McAlpine

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Leasing activity in Adelaide's industrial property market surged nearly 20% in the 12 months to September, buoyed by improving economic conditions.
Data from Savills Australia's Spotlight Adelaide Industrial report showed total space leased - based on leases of more than 700 square metres- rose by 45,698 square metres to 282,352 square metres from 66 deals in the 12 months to September. That compared to the previous corresponding period which recorded a total of 236,654 square metres of stock reported leased from 90 deals.
<img alt="chart-of-the-weeek-cot-23" height="282" width="470" src="/images/stories/2013/10/23/chart-of-the-weeek-cot-23.png">
Leases in the manufacturing and engineering sectors made up the bulk of the industrial leasing activity, accounting for 100,795 square metres of space reported leased, the report said.
The transport and logistics sectors had the most number of leasing deals, with 16 or 24% of the market.
Savills examined Adelaide's five main industrial precincts in the report- the Inner West, North, North West, South and South West.
Of the three precincts, it found that the North, Inner West and South all recorded decreases in leasing activity over the period,  however leasing activity in the North West increased significantly with 143,059 square metres reported leased. The North West registered the greatest number of leasing deals at 30.
Savills also noted that the largest volume of industrial activity took place in the 2,000 to 5,000 square metre categories, closely followed by the 15,000 plus square metre category
Looking ahead, Savills expects the number of leasing deals to remain steady in the short term while the economy continues to recover, increasing in the medium term as a larger number of tenants return to the market.
The report, which also examined sales activity, highlighted that Adelaide’s industrial sector is experiencing "a time of great change” with several major projects, in particular those in the mining and defence sectors, expected to drive growth and investment in the market.
"As these projects become more established we can expect to see an increase in both the number and value of industrial sales and leasing transactions," it said.
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Adelaide's industrial property market surges by 20%: Savills

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The historic Gracemere Hotel at Gracemere in central Queensland has been slated for sale.
Constructed in 1885, the double storey building is located on the Old Capricorn Highway and is adjacent to the recently opened Gracemere Shopping World, which has Woolworths and Best &amp; Less as anchor tenants.
The hotel - about 11 kilometres from the Rockhampton CBD - is being marketed by Tony Bargwanna and Leon Alaban of Ray White Hotels Australia.
Mr Bargwanna said the hotel enjoys a reliable trade and no immediate competition in a diverse local economy.
“The hotel in the 2012-13 financial year generated turnover of approximately $7 million plus gaming revenue,” he said.
The hotel, which has had multiple refurbishments, comprises of a sports bar, a bistro and dining area accommodating around 175 patrons, a gaming lounge with 30 EGMs, PubTAB, Keno, a bottle shop, commercial kitchen, children’s playground and eight hotel guest rooms. The land area is about 2,829 square metres.
“The current owners have identified that the sports bar and beer garden would be next areas of growth for the Hotel; concept plans for future works to these areas have already been prepared, added Mr Bargwanna.
While Mr Alaban said the gaming room could easily accommodate an additional 10 electronic gaming machines, subject to approval. “For strategic purchasers, we also believe the acquisition of a vacant block of land adjacent to the hotel car park could be targeted to construct a motel or expand the bottleshop and the car park area,” he said.
Expressions of interest close on November 13.
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Central Queensland's historic Gracemere Hotel slated for sale

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A city fringe office building in Melbourne's seaside suburb of St Kilda has been slated with price expectations of more than $11 million.
The 180 St Kilda Road building is spread over three levels and is being offered for sale with pending vacant possession.
Co-selling agent Peter Bremner of Colliers International said there was a current lease in place to Austereo, with a sub-lease in place to current occupant Village Roadshow, until 30 June 2014 and no further options, "meaning a business could plan for their future in the medium to long term while receiving just over $1 million per annum in rental income in the short term".
The join agent is Jeremy Gruzewski also of Colliers.
The property sits on a 1,258 square metres freehold parcel of land and the building is described as "modern" and "refurbished". It comprises 2,951 square metres of office space, plus a 285 square metre rooftop deck and 61 car bays.
“Opportunities to purchase a building of this size with pending vacant possession in one of Melbourne’s most tightly held office markets are genuinely rare, especially for standalone buildings with such high exposure and presence," said Mr Bremner.
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Three storey St Kilda office slated for expected $11 million plus sale

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A private investor has snapped up a new industrial warehouse in the northern Brisbane suburb of Banyo for $420,000.
Located just 12 kilometers north of the Brisbane CBD, the warehouse, at 5/368 Earnshaw Road, features a 5x5 metre roller shutter door and four allocated car parks.
Tim Langford of Ray White Industrial Milton sold the property.
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Private investor snaps up new industrial warehouse in Banyo, Brisbane

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A 5,150 square metre warehouse and office investment property in Melbourne's Footscray West has sold for $1.35 million.
The sale to a private investor represented a yield of 11.5% on a WALE (weighted average lease to expiry) of two years.
The 1 Paramount Road property includes a warehouse and office covering 3,050 square metres and has been leased to the same tenant since 1997, which intends to remain on the property for at least another two years.
DTZ selling agent Rob Mirabello said "This is an excellent sales result given the yield achieved and the remaining lease term".
Mirabello also pointed out that there scope is for planning upside, “with the property located in an area that may be rezoned for residential development in future years.”
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Footscray West warehouse and office sells for $1.35 million

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A rare piece of retail strip on Melbourne's prominent Collins Street is returning to the market.
The retail pocket, at 150 Collins Street, sits within a much larger development due to be completed in August 2014 and will be home to Westpac's new head office.
Gorcon and APN Property Group are developing the project, estimated to have an end value of $180 million.
<img src="/images/stories/2013/10/23/melbourne_oct_23_one.jpg" width="470" height="353" alt="melbourne_oct_23_one">
Artists impression of the 150 Collins Street development
As part of the development, about 650 square metres of retail space, fronting Little Collins Street, will be offered for lease to retailers.
A new state-of-the-art Westpac branch, located on the corner of Russell and Little Collins Street, will anchor the retail offering. The branch will be taking about 330 square metres of the total retail component - roughly 1000 square metres.
A further seven retail tenancies are being offered for lease by Michael Rainey from Fitzroys. The largest tenancy offering has direct access to the main office foyer at Ground Level, and has the ability to be expanded into a mezzanine tenancy. All other tenancies front Little Collins Street, with a number of them with heritage listed art deco frontages. Areas range from 29 square metres to 143 square metres.
Retail rents are $1,000 per square metre to $2,750 square metres plus for the small shops.
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Rare Collins Street retail strip offered for lease

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Investors’ insatiable appetite for prime retail real estate is set see investment sales in the sector produce new record highs this year.
This week alone, more than $120 million worth of retail property assets changed hands in Sydney and Adelaide.
The high-profile Oxford Square commercial retail complex in Sydney's CBD sold for $62.7 million to the Australian Property Opportunities Fund.
<img alt="oxford_square_oct_23_one" height="313" width="470" src="/images/stories/2013/10/23/oxford_square_oct_23_one.jpg">
Photo: Oxford Square, Darlinghurst
Oxford Square is fully leased, with a net income of about $5,025,000 per annum. The site has a 48-metre frontage to Oxford Street and a total gross lettable area of 12,088 square metres.
Jones Lang LaSalle’s national head of retail investments Simon Rooney and manager of NSW retail investment sales Luke Harris oversaw the sale on behalf of a local private investor.
"While major deals above a$150 million still dominate the overall market, we’re also seeing an uplift in activity in the $50-150 million bracket this year", said Rooney, citing increased demand from the likes of syndicators and boutique fund managers
Such is the high level of demand that Rooney said including this most recent major sale, total retail transactions were at $5.3 billion.
"The current pace of activity suggests retail investment volumes are on track to produce a new record high in 2013, above the $6.5 billion recorded in 2012,” he said.
In a separate transaction, Charter Hall Retail REIT has acquired the Southgate Plaza in Adelaide's Morphett Vale for $60 million.
<img alt="morphett_oct_23_one" height="251" width="470" src="/images/stories/2013/10/23/morphett_oct_23_one.jpg">
Photo: Southgate Plaza, Morphett Vale
The plaza is located 21 kilometres south-west of the Adelaide CBD and is anchored by a recently expanded Target store and a refurbished Coles supermarket.
JLL's Simon Rooney also negotiated the Southgate deal. ISPT was the vendor.
Total sub-regional transactions for 2013 are now at $963.7 million year to date. That compares to $983.2 million in 2012.
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Record highs for prime retail investment sales

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.

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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>.

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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.

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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.

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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;

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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

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