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Brisbane's CBD office market appears to be in the middle of a perfect storm.
Research from Knight Frank, published in late September, found that the Brisbane market is not only being plagued by softening tenant demand and a shrinking state government workforce but also increasing private sector contraction.
<img src="/images/stories/2013/10/15/chart-of-the-week-oct-15.gif" width="470" height="449" alt="chart-of-the-week-oct-15">
Source: Knight Frank
As at July, the Brisbane CBD office market vacancy rate stood at 12.8%, with negative absorption of 64,069 square metres - the worst net absorption on record.
According to Knight Frank’s research director in Brisbane, Jennelle Wilson, the total available space arising from the private sector contraction was about 72,894 square metres, compared with 51,762 square metres as at February 2013.
“Narrowing the focus to just the contraction space, the state government accounts for some 44% of the 113,637 square metre contraction impact," said Ms Wilson. "Of the private sector, the resource sector (22%), finance (10%), IT/communications (8%) and engineering (6%) are the dominant contributors."
Despite the worst impact of those factors being in the past, the research said net absorption was not expected to recover in the short term, "with a negative result expected for the second half of 2013".
"However, this is not expected to be anywhere near as severe as in the first half of the year, with -11,170 square metres forecast".
Knight Frank director of CBD leasing, David Howson said "net absorption is expected to return to positive levels in the first half of 2014, with the steady improvement in international economic factors expected to have a flow through in confidence to the Australian market which has been crippled by indecision, exacerbated by the lengthy Federal election campaign".
He is tipping the vacancy rate to remain relatively unchanged to the end of the year, increasing to 12.9%.
Thereafter, Mr Howson added even though the net absorption was expected to take 12-18 months to recover to trend levels, "the absence of any new supply to the market will assist to bring the vacancy rate down during 2014 and 2015".
The vacancy rate was not forecast to fall below 10% before the next wave of supply additions in late 2015/2016, the research said.
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Brisbane office market caught in a perfect storm

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<img src="/images/stories/2013/10/14/MRE-logo.png" width="235" height="127" alt="MRE-logo" style="display: block; margin-left: auto; margin-right: auto;">
Agent: Sam McVay<img src="/images/stories/2013/10/14/sam-mcvay-proifile.png" width="180" height="225" alt="sam-mcvay-proifile" style="float: right;">
Position: Managing director
Company: McVay Real Estate
Office Location: Sydney
How long have you been in the industry? 
12 years
What’s happening in the area you specialise in?
We focus on the sale of office buildings, hotels and shopping centres. In the last six months we've seen accelerated buyer appetite from both domestic and offshore groups, evidenced by the recent campaign and ultimate sale of the Four Seasons Hotel to a Mirae Asset Management. 
Describe the most interesting property you have sold?
I loved selling Birkenhead Point Shopping Centre a few years back. It has an interesting history and was a very complicated asset with lots of moving parts. In saying that, we are now <a target="_blank" href="https://www.propertyobserver.com.au/commercial/sydney-opera-house-car-park-up-for-sale/2013091865110">selling the Sydney Opera House Carpark</a> and it is an incredible feat of engineering with some amazing hidden tunnels that burrow under the Botanic Gardens.
What are the ingredients to being successful in your job?
Focus, passion, complete understanding of the property you're selling and a supportive wife.
What aspects of your role do you enjoy the most?
I enjoy the analytical and strategic side of our business but also love the human element that can dictate a deal happening or not. The closing celebrations are good fun too.
Where would you invest a spare $750,000?
There are some experienced boutique property syndicators out there who are taking advantage of the gaps in the current market.  I'd invest with those that contribute their own equity alongside that of investors and have their fees based primarily on the overall performance of the asset once it has been held for three plus years.
Which football team do you support?
Queensland Reds / Brisbane Broncos
What’s your favourite app or techno gadget?
We invested in a variety of cloud based IT systems that I discovered whilst living in the US. They have streamlined so many of our processes and allow us to adapt and scale as technology and our business evolve.
How do you use social media?
Typically for marketing of our current listings and major announcements, and to potentially find people that fit our expanding team.
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In profile: McVay Real Estate's managing director, Sam McVay

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The North Nowra Shopping centre in southern NSW has sold at auction for $4.705 million.

The neighbourhood shopping centre, at 9 McMahons Road, North Norwa, was purchased by a local private investor on a yield of about 7%.
It attracted 12 registered bidders at the auction.
Built in the 1980's, the centre has 20 outlets and has about 3,029 square metres of net lettable area.
The selling agent Scott Baxter, principal of Ray White Commercial Shoalhaven, said “the site has more than 100 car parking spaces and there's scope for further development, as current tenants are seeking extra space."  
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North Nowra Shopping Complex sells for $4.7 million

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A prime retail shop in the heart of Melbourne’s CBD has been listed for sale with price expectations north of $3.1million.
Fashion retailer Bell &amp; Barnett currently leases the shop, at 261 Little Collins Street, and pays an annual rent of $280,800 plus GST.
The shop is about 114 square metres in size and is already said to be attracting strong interest from investors and owner-occupiers. The shop goes under the hammer on 18 October. It is being marketed through CBRE Melbourne agents Josh Rutman, Ed Wright and Mark Wizel.
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Prime Little Collins Street retail shop to go under the hammer

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One of St Kilda's most well-known landmarks, the Coffee Palace Backpackers Lodge has been listed for sale and is expected to generate offers of about $7 million.
The 47-room property, at 24-6 Grey Street, is close to Melbourne’s busy Fitzroy St and has a total building area of about 1,680 square metres.
The property is leased to the operators under a lease which has an annual rental of $424,471 plus GST. But the five year lease, which started in May 2009, is due to expire on 31 April next year, leaving potential buyers with various options.
Expressions of Interest to purchase the freehold of the three-storey building close on Friday 15 November, through marketing agents Grant McKenzie and Russell Meerkin of Kliger Wood Real Estate.
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St Kilda backpackers lodge listed with $7 million expectations

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An owner-occupier has purchased a strata warehouse unit in Brisbane’s Eagle Farm for $255,000.
The tenanted property, at 16/300 Cullen Avenue, Eagle Farm, comprises 60 square metres of warehouse and 30 square metres of mezzanine storage and office space.
Selling agent Tim Langford of Ray White Industrial Milton said the strata unit was currently leased for about $13,500 per annum and zoned general industry.
“The current tenant is using the site to store furniture whilst building a house and will vacate the property when the lease expires in February next year," he said.
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Strata warehouse unit sale in Eagle Farm, Brisbane

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A Singapore-based private investor has paid $1.95 million for a BP service station in Brisbane's Cleveland.
The BP service station, at 376 Bloomfield Street, comprises a convenience store, a large storage area, on-grade car parking areas and sits on a total site area of 1,590 square metres.
The property is leased to BP on a nine-year term until August 2017, with two further five-year options.
The selling agents were Michael Harcourt and Jon Tyson of Savills retail sales. More than 100 enquiries were received for the property.  
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Singapore-based investor buys Cleveland, Brisbane service station

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A private investor has beaten several rival bidders to purchase a prime residential site in Perth's Highgate for $1.3 million.
The 71 Mary Street site is located metres away from Hyde Park and Beaufort Street’s popular restaurant precinct and offers the potential for a grouped dwellings development.
The 569 square metre site is currently home to an older-style house.
Selling agent Colliers International’s Aaron Antonas said the prime location and development potential of the site had seen it attract five offers, with the successful bid a cash unconditional offer by a private investor.  
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Private investor pays $1.3m for prime Highgate residential site

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A spate of leasing deals has bolstered the vacancy rate in a newly refurbished building in Sydney’s Drummoyne to nearly 70%.
MRA Consulting recently secured 107 square metres of office space in the 19 Roseby Street building, while Accountancy Insurance signed a five year lease for 214 square metres of office space.
The deals were negotiated at about $420 to $450 per square metre gross.
CBRE senior negotiator for commercial sale and leasing Nick Sinclair said a further 1,032 square metres of space was under offer to seven tenants, leaving just 100 square metres of vacancy.
Since January, about 2,400 square metres of office space has been leased in the building. The latest two leasing deals take the vacancy in the building to just fewer than 70%. Renovations were completed in August.
The largest deal done in the Roseby Street property this year was the leasing of an 830 square metre office space to Redcape Hotel Group, who relocated its head office to the building, said Mr Sinclair.  
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Spate of leasing deals at refurbished Drummoyne building

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Companies wanting to achieve a zero carbon footprint are being offered a piece of Australia's only ecologically sustainable, carbon neutral business park in the Yatala Enterprise Area on the northern Gold Coast.
A range of warehouse and office leasing opportunities have become available in the business park, located just off the Pacific Motorway, at 6 Quinns Hill Road East, Stapylton.
The offering includes two clear span warehouses of 1200 square metres and an 850 square metres, respectively, a double storey office of 271 square metres and 88 square metres of office space in a carefully restored Queenslander-style building.
Steve Jeffery and Kelly Zeckovic of Ray White Commercial Robina have been appointed exclusive marketing agents.
<img src="/images/stories/2013/10/09/stayplton_oct_9_one.jpg" width="470" height="353" alt="stayplton_oct_9_one">
Building seven at Yatala Enterprise Area.
A key feature of the multi-award winning estate was the significantly lower overheads for tenants.
Mr Jeffery said on-site water and sewerage treatment meant reduced outgoings, while water pumps, street lighting and security systems were driven by grid-connected solar power.
"Both warehouses have energy-efficient lighting plus passive solar lighting and the translucent roof sheeting provides ample natural day lighting, further reducing energy consumption," he added.
The warehouses are available for lease for about $118 per square metre per annum net plus outgoings while the offices are priced at $200 per square metre per annum plus outgoings.
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Leasing opportunities at Australia's only ecologically sustainable, carbon neutral business park

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

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>.

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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.

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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.

Katherine Jimenez

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