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The Woden town centre building in Canberra's CBD has been purchased by the Woden Specialist Medical Centre for $4.4 million.
The property (pictured below), at 90 Corinna Street, has a net little area of about 1,830 square metres and is 70% vacant.
<img src="/images/stories/2013/09/05/woden-sept-11-two.jpg" width="470" height="311" alt="woden-sept-11-two">
Centrelink is the major tenant in the three-storey building, occupying 30%.
Selling agent Ray White Commercial Canberra Director, Andrew Smith said the new owners intended to refurbish the vacant first and second floors of the building and reposition them as a medical centre.
Eblana Pty Ltd was the vendor.
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Woden town centre building sold for $4.4 million for use as a medical centre

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Investment activity in Victoria's retail market has soared to the highest level since the global financial crisis, a new CBRE report has revealed.
Strong buyer interest from international investors and institutional groups saw the state's retail market emerge as the epicenter of investment activity, with CBRE's Australia MarketView report showing Victoria accounting for 46% of all national transactions in the second quarter of 2013.
"Over the first half of 2013, retail investment levels were at a five-year high, with the low interest rate environment and strong performance of retail assets – particular non-discretionary - seeing investors show renewed levels of confidence in both regional and CBD markets,” said CBRE director of Victorian retail investments Mark Wizel.
The spike in investment activity comes despite a broader trend of weak retail trading conditions across the country.
At the centre of that buying activity was Victoria’s neighbourhood shopping centre market, with Mr Wizel citing a wide range of private and corporate acquisitions such as ISPT’s purchase of 75% interests in over 20 Coles developed properties and SCA Property Group’s acquisition of the Lascorp portfolio.
Partly driving that higher investment activity in neighbourhood shopping centres was a shift in consumer spending towards food retailing.
CBRE Senior Retail Research Manager Tammy Smith said the change in investor sentiment was the result of an economic shift and the move towards non-discretionary spending.
The report showed that while Victoria’s retail turnover figures in the 12 months to June 2013 were below the national average – recording no growth over the period – supply levels and rents have continued to trend upwards.
In the 12 months to June, metropolitan regional rents rose to between $1,385 per square metre and $2,615 per square metre, CBRE figures showed, while neighbourhood centres benefited from the large food based tenant mix to record a 3.1% lift in rents annually.
However, the large discretionary spend exposure of sub-regional centres, saw rents drop 4.1% to sit between $598 per square metre and $1,317 per square metre.
The CBRE report also indicated that the Melbourne CBD market could be the next hub of invesment activity.
“We believe that for the first time in four years, confidence within the Melbourne CBD tenancy market has exceeded that of the investment market – ultimately this means that over the coming months the investment market will respond in a positive manner,” said Mr Wizel.
"Asian investment within the Melbourne CBD, and specifically for retail properties, is currently at unprecedented levels, with properties ranging in value from $2 million to $100 million attracting interest from both Asian investors living locally, as well as offshore-based investors looking to deploy funds to the state’s capital city.”
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Victorian retail market at highest level since GFC: CBRE

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A wave of cashed up international investors are on their way to Australia, with an estimated war chest of about $18.5 billion ready to be invested in commercial property assets around the country.
A new report from Cushman and Wakefield - titled “Capital Flows: How heavy is the weight of money?” - showed that more than 50 offshore firms are scouting the Australian commercial property market for assets, with an estimated war chest of US$16.5 (AU$18.5bn) billion in offshore money.
Office transactions
<img style="display: block; margin-left: auto; margin-right: auto;" alt="office_transactions" height="189" width="342" src="/images/stories/2013/09/10/office_transactions.png">
Source: Cushman &amp; Wakefield
And leading that overseas charge, the report said were the Singaporean firms, with an investment allocation totalling an estimated US$4.1 billion, followed the US, Malaysia and China.????
Cushman &amp; Wakefield Associate Director of Research and consultancy, Peter Ainge, said that up until now the major international investors had merely “dipped their toes in the water” when it came to Australian acquisitions.
"A more direct and aggressive move is on the short term cards," said Mr Ainge.
Investment managers, equity funds and open ended funds, the report said, were expected to have the largest allocation for Australian property investments, totalling about US$3.8 billion.
<img style="font-size: 0.8em; display: block; margin-left: auto; margin-right: auto;" alt="capital-inflows-chart-of-the-week-sept-10" height="427" width="477" src="/images/stories/2013/09/10/capital-inflows-chart-of-the-week-sept-10.jpg">
Source: Real Capital Analytics
"The next biggest category was the pension funds, with an estimated US$3.6 billion slated for investment. Among the pension funds identified were the Teachers Insurance and Annuity Association; College Retirement Equities Fund (TIAA-CREF) from America and the National Pension Service from Korea.
“Existing asset owners are approaching a critical stage, as the intense weight of international money coupled with the growing investment capacity of domestic superannuation firms creates a scenario in which it may be attractive not to take their assets to market,” said Cushman &amp; Wakefield director of investment sales, Mr Tony Dixon.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="yield_spread" height="222" width="334" src="/images/stories/2013/09/10/yield_spread.png">
Source: Cushman &amp; Wakefield
The report also highlighted that while offshore investors have been focused on core assets, with many adopting a “trophy hunter” approach, "the lack of investment opportunities is expected to see these investors move up the risk curve towards core plus and value add opportunities."
“Some offshore investors with firm ambitions to invest in Australia may find they need to broaden their investment mandates beyond the prime assets and core markets,” said Mr Ainge.
“While this is yet to materialise into actual purchases at this stage, Cushman &amp; Wakefield can confirm that enquiry levels for secondary assets have increased.
"Hence any cap rate compression in the secondary asset market is likely to be driven by an increased weight of money rather than underlying property fundamentals."
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Cashed up foreign investors scouting Australian commercial property market: Cushman & Wakefield

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<img style="display: block; margin-left: auto; margin-right: auto;" alt="knightfranklogojuly17" height="73" width="200" src="/images/stories/2013/09/10/knightfranklogojuly17.jpg">
Agent: Brooke Railton<img style="float: right;" alt="brooke-railton-profile" height="225" width="150" src="/images/stories/2013/09/10/brooke-railton-profile.jpg">
Position: Manager, industrial
Company: Knight Frank
Office Location: South Sydney
1. How long have you been in the industry?
I’ve been in the industry for about eight years, as I started working in agency throughout university. I spent two years working in London and I’ve been working in the agency in South Sydney for about six years.
 
2. What’s happening in the area you specialise in?
South Sydney continues to go through incredible change which is really exciting to be a part of. Traditional industrial areas are being rezoned to allow for residential and commercial developments. This makes my role more geographical than sector specific having worked on business/office space, warehousing, residential site sales and adaptive reuse.
There are some great character buildings in the Alexandria/Rosebery area ripe for adaptive re-use and the demand from the end user is very strong as tenants move from city fringe locations. Concepts such as Kitchen by Mike, The Grounds of Alexandria and the new Fratelli Fresh in Alexandria bring a fresh dynamic and amenity to the area.
 
3. Describe the most interesting property you have sold
We have recently been marketing an industrial property in the south Sydney suburb of St Peters which has 13 older style buildings and is about 95% leased to a range of creative users. It was really interesting looking at the number of ways the property could be adapted or redeveloped and discussing the different viewpoints with purchasers.
 
4. What are the ingredients to being successful in your job? 
Having a thick skin! Perseverance and attention to detail are key as well as building trusting relationships with clients.
 
5. What aspects of your role do you enjoy the most?
No two properties are the same and I like that each one presents a new challenge and requires a considered strategy. Seeing the potential in a property and working with clients to achieve this is also very rewarding as is finding the right property for a tenant.
I also don’t mind inspecting the fashion headquarters that are in Alexandria!
 
6. Where would you invest a spare $750,000?
I’d buy a residential property.
 
7. Which football team do you support?
I grew up in Brisbane so I’m torn between the Lions and Swannies. 
 
8. What’s your favourite app or techno gadget?
The Knight Frank app is great for ogling the amazing properties for sale around the world - you can search by your interests such as skiing, golfing or vineyards! And the Run Keeper app keeps me motivated.
9. How do you use social media?
Keeping up to date with colleagues, friends and family - I also like to follow a range of blogs from architecture design, health and business leaders.</body></html>

In profile: Knight Frank's manager, industrial South Sydney, Brooke Railton

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A rare development site in Adelaide's Riverbank precinct is up for sale with an asking price of about $6.75 million.
The 62 Hindley Street site, known as LC House, is owned by a hotel developer who purchased the property for about $6.5 million in 2010.
Selling agent, Knight Frank director Mr Tony Ricketts, said the property was primed for redevelopment and would suit retail, commercial, student accommodation, apartments and car parking.
“Major public investment in the CBD is creating the potential for new apartments, commercial and retail space and tourist accommodation, but few development sites are in a prime position like 62 Hindley Street," he said.
The 62 Hindley Street site covers 1,785 square metres with dual frontage onto Hindley and Blyth Streets.
Offers close today.
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Adelaide’s Riverbank precinct up for sale

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A local private investor has purchased an industrial property in Brisbane's Tingalpa at auction for $4.2 million.
The industrial property, at 40 Enterprise Place in Tingalpa, consists of 4,239 square metres of building, on a 6,610 square metre site.
Colliers International's Anthony White and Mathew Frazer-Ryan negotiated the sale on behalf of the vendor, Perpetual Trustee Company Limited.
Mr White said they received solid enquiry prior to the auction, with as many as 30 people attending and three serious parties bidding.
The new owner plans to undertake a small renovation of the Tingalpa property before putting it on the leasing market.
Built in 1995, the industrial facility has 3,946 square metres of industrial space and 293 square metres of office space.
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Private investor buys $4.2 million industrial property in Tingalpa, Brisbane at auction

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Advertising company The One Centre Group has taken a 275 square metre lease on the ground floor of the historic Company Director House building in Sydney's CBD.
The term of the ground floor lease, at 71 York Street, is for five years, with a gross rental of about $162,250 per annum.
Ray White Commercial office leasing directors John Skufris and Jeremy Piggin negotiated the lease.
Mr Skufris said the space was formerly a salon and day spa operation but was completely transformed "with the entire fit out removed, the ceilings exposed and the original timber floors sanded back to offer a strata-titled character space."
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The One Centre Group signs Sydney CBD office lease

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The Reject Shop will join a long line of blue-chip tenants that are moving into Adelaide's next major shopping mall - the Seaford Meadows shopping centre.
The discount retailer has taken 681 square metres of retail space in the yet-to-be built centre, which will be anchored by a Woolworths Supermarket and more than 14 speciality stores.
<img alt="seaford_meadows_sept_4_two" height="257" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_two.jpg">
Colliers International, in conjunction with Savills, has been appointed to manage the leasing of the centre.
“Chemist King and a liquor retailer have also been secured and negotiations are underway for the remaining tenancies," said co-leasing agent Ben Laycock of Colliers.
He said the centre's location, on the corner of Grant Boulevard and Bitts Road, was in the heart of the new Seaford Meadows neighbourhood development.
Construction of the new shopping centre is underway, with the mixed use development due for completion early 2014.
<img alt="seaford_meadows_sept_4_one" height="353" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_one.jpg">
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The Reject Shop taken in by Adelaide’s Seaford Meadows shopping centre

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Freight company Booth Transport has secured a six hectare site in Melbourne's Laverton North, in one of the biggest leasing deals in the city's west this year.
Booth will move into Kalari Transport’s former Laverton North headquarters on Fitzgerald Road, which comprises about 11,000 square metres of warehouse space.
Colliers International’s Nathan Bingham and Stephen Newsham negotiated the lease.
Year to date, it is estimated 110,000 square metres worth of industrial property above 3,000 square metres has been leased in Melbourne’s western precinct, which encompasses Laverton North, Derrimut, Truganina, Brooklyn, Altona and Sunshine.
“Colliers International’s Melbourne West office is currently handling a whopping 280,000 square metres of enquiry,” said Mr Newsham.
“Much of this leasing enquiry involves the awarding of third party logistics contracts whilst other deals are predominantly the result of companies restructuring their property requirements to lower costs and improve their overall efficiencies."
“Business expansion is also another common reason for relocation or the take-up of new space."
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Booth Transport secures six hectare lease in Melbourne’s west

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A syndicate of South African investors has purchased the Sherwood Court convenience centre in Brisbane’s south-western suburb of Sherwood for $3.9 million.
The Sherwood Road centre was sold with one vacancy but based on the centre's estimated fully leased income, the yield would represent 8.3%.
The vendor of the property was Larrapinta Pty Ltd, a company linked to private family holdings of Ken Woodley - the co-founder of Metro Property Development. Mr Woodley purchased the centre in 2003 for $2.6m.
Michael Harcourt and Peter Chapple of Savills negotiated the transaction.
Sherwood Court has a total net lettable area of 696 square metres and comprises a modern convenience centre, incorporating a mix of retail and service tenants including Bank of Queensland and Australia Post.
Mr Harcourt said the centre was underpinned by solid rental and income growth into the future and also benefited from high-profile exposure.
"Quality convenience retail centres in prominent metropolitan locations are continuing to attract strong interest from private investors, self-managed super funds and smaller syndicators," he added.
The South African buyers of Sherwood Court also own the adjoining ANZ Bank building and a third retail asset in inner Brisbane.
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South African investor syndicate makes Brisbane convenience centre purchase

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;

[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.

Katherine Jimenez

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