<html><body>
Boutique Australian financial services advisory company has leased about 485 square metres of office/warehouse space at Coorparoo in Brisbane's east. 
Protect Ensure secured the lease at 8/55-61 Holdsworth Street to accommodate its growing business.
Under the deal, the firm has agreed to take out a three year lease, at a net rental of $48,500 per annum plus GST and outgoings. 
The refurbished office space includes about 77.9 square metres of offices on the ground floor and a mezzanine area of some 244.5 square metres. The warehouse is about 163.4 square metres with a container height roller door and also includes four car spaces. The selling agent was Rhiannon Jones of Ray White Commercial Brisbane Trade Coast 
</body></html>

kjiminez-eaYKfU7qd2

Coorparoo, Brisbane warehouse leased by Protect Ensure

<html><body>
Oil and gas exploration giant, Carnarvon Petroleum Limited has secured 281 square metres in an office building in West Perth. 
The lease occupies part of the office space, at 2/76 Kings Park Road and runs for five years with a further five year option. It is understood that the net rent per annum is about $400 per square metre. 
The leasing agent was Lachlan Ottley of Savills Leasing WA. 
The office space features a combination of office fit-out and open plan with ample parking, and was close to local amenity, public transport and the CBD, said Mr Ottley. 
</body></html>

Carnarvon Petroleum Limited lease West Perth office

<html><body>
Marinucci Packaging has signed a ten year lease at the new BIZ business park at Narangba, in Brisbane.   
Located at Mineral Sizer Court within the new BIZ Business Park, the 9,132 square metre property is about 38 kilometres north of Brisbane. It was also designed and constructed as per the lessee’s specifications. 
The facility features two sunken loading docks with dock levelers, expansion capability of 460 square metres, an office fit-out and an 8.5 metre internal springing height clearance.   
CBRE’s Sam Higgins negotiated the deal on behalf of the lessor, Queensland development group, Pradella. 
Mr Higgins said the industrial facility’s location was a key factor behind the deal.
“Marinucci Packaging was looking for new industrial space in Brisbane’s northern suburbs, and this property’s direct highway access and ability to be constructed within a tight time frame were major drawcards that helped seal the deal,” he added. 
</body></html>

Marinucci Packaging sign new lease at Narangba, Brisbane

<html><body>
An industrial property in Melbourne's tightly held precinct of Rowville has been snapped up two weeks before it was due to go to auction for $2.5 million.
The buyer of the 3 Corporate Avenue property was an owner-occupier and the sale price reflected a rate of $956 per square metre.
The property has a land area of about 4,105 square metres and sits in the Kingston Links Estate. 
Key features include 920 square metres of office space, high clearance warehousing of 1659 square metres and 38 car spaces.
Selling agents were David Kalb and Sasan Misaghian of Colliers International, in conjunction with Tom Davis. 
"We received strong enquiry throughout the campaign from an abundance of buyers looking to purchase in this area, with the prime location near Eastlink being a major driving force", said Mr Kalb
"The new owner intends to sub-lease part of the office with a separate entrance to be created."
The property was originally built by Kingston and had been tenanted until September 2013 by one tenant for more than 10 years 
</body></html>

Rowville, Victoria industrial property snapped up prior to auction

<html><body>
A keenly contested bidding process saw two hotel investments owned by Coles in Queensland and Western Australia sell for a total of $13.22 million.
The Old Bundy Tavern in Bundaberg, Queensland, sold for $7.7 million to a  Brisbane-based family. The sale reflected a yield of 8.18 %. 
A Sydney-based doctor was the end buyer of the Victoria Park Hotel in Perth (pictured above) for $5.525 million - equalling a yield of 5.79%. 
CBRE’s Joel Fisher, Glenn Price and Ryan McGinnity, in conjunction with Billy Holderhead of Burgess Rawson handled the sale. 
The Old Bundy Tavern and First Choice Liquor outlet is leased to Liquorland for a 15-year term with five 10-year options. 
The refurbished hotel is on a 3,380 square metre site and includes an 886 square metre freestanding First Choice Liquor store. The hotel includes four bars, a large bistro, gaming lounge with 30 machines, function room and on-site parking for 28 cars. 
The Victoria Park Hotel also has a 15-year lease to Liquorland and features four bars, a function centre, underground cellar, drive-through bottle shop and alfresco area. 
</body></html>

Coles sells off two hotels for total of $13.22 million

<html><body>
A Port Melbourne development site, with building approval for a five storey building, has been sold for $2.45 million. 
The vacant 382 square metre site, at 77 Bay Street, is zoned mixed use and was sold with an existing plan and permit for a modern five-level building which incorporates a child care facility and ground floor retail.
Fitzroys agents Andrew Hewett, Michael Ryan and Charles Emmett negotiated the sale.
Mr. Ryan said the purchaser is an experienced child care centre and plans on occupying the property, with aims to commence construction later this year.
The site comprised 30 square metres of storage and is located in a "rapidly developing section of the popular Bay Street retail centre, opposite the Thomas Dux supermarket",  said the agents. 
</body></html>

Port Melbourne development site bought by child care centre

<html><body>
A private investor has swooped on a tenanted office/warehouse facility at Nundah on Brisbane’s northside, paying $1.04 million.
The vendor of the 2/601 Nudgee Road property was RCL Developments Pty Ltd.  
It is leased to Prospect Group Pty Ltd, a company which provides consulting services to the mining, energy and associated industries. The lease has three years to go and is worth $90,000 gross a year. 
Steve Black of Ray White Brisbane Northside was the selling agent of the 336 square metre site. 
“The sale price represents a yield of approximately 7.8% which is indicative of where the market is at the moment for similar types of industrial properties", said Mr Black.
The two-storey building features 235 square metres of corporate office space with an A-grade fit out, a large boardroom and staff amenities on both levels. It also has a 101 square metre high bay warehouse.
</body></html>

Private investor swoops on Nundah, Brisbane warehouse

<html><body>
High net worth investors and sovereign wealth funds - potentially armed with billions of dollars - are set to put their stamp on Australia's commercial property market in the year ahead. 
Those two forces are expected to drive a year of change for Australia's commercial property market, with emerging investors being one of the major changes due to a rise of high net worth (HNW) individuals and sovereign wealth funds (SWF) increasing their investment in the Australian market.
In the Asia-Pacific alone, ultra high net worth (UHNW) investors - those with wealth of more than US$30 million - are estimated to be worth US$6.59 billion.
The sovereign wealth fund market today is estimated to be worth US$6.1 trillion - nearly doubling in size since 2007. 
The findings were released in JLL's latest report The year of the push and pull market, which states that Australia's commercial property market will continue to be subject to "divergent forces", with some new factors and some continuing from 2013.   
JLL's Australasian head of research and co-author of the report, Dr David Rees, Australasian, said "the push factors that will lead to increased capital flow into real estate in 2014 include the growth of HNW individuals, the expansion of SWFs, growth of funds under management (FUM) by superannuation funds, increasing portfolio allocations by investors to real estate and away from equity markets, low interest rates, a premium paid for market transparency and an ageing population."
Globally, he notes, that those UHNW individuals who have made their money from real estate continue to hold around 60% of their wealth in real estate.
“In 2014, development opportunities offering capital growth and often smaller capital value high yield opportunities are likely to be attractive to this category of investors", he said. 
Some of the ‘push’ factors identified in the report that will lead to increased capital flow into real estate markets are:
<ul>
<li>SWF funds expanding in number and size;</li>
<li>global growth of HNW investors;</li>
<li>continued growth of the nation's $1.7 trillion superannuation market, with property a key part</li>
<li>of its exposure, and</li>
<li>a portfolio allocation tilt toward real estate. </li>
</ul>
"A 1% shift away from equity and bond markets implies a 19% rise in real estate exposure if we measure the commercial real estate investable universe", the report said. 
Dr Rees said that although many funds had lifted their exposure to real estate, "many are still considered to be underweight in this area, so the potential for growth is strong.”
Dr Rees said the ‘pull’ factors in 2014 that would lead to increasing demand for real estate assets in selected markets were all about "new benchmark metrics that will become more relevant as the year progresses".
“It is all about spreads and if they are the new ‘normal’ or is there more adjustment to come in 2014?"
JLL is forecasting yield spreads between CBD markets to compress. 
It also believes yields spreads between prime and secondary grade assets will compress without reverting to pre-2008 levels and that incentives will contract but are likely to remain higher than historically. 
It is also tipping investor return expectations to adjust to a lower growth economy and the normal office market vacancy rates to be higher.   
</body></html>

High net worth investors and soveriegn wealth funds to put their stamp on Australian commercial property

<html><body>
David Jones, Australia's only upmarket department store, has fallen into the hands of South African retail giant Woolworths, in a deal worth $2.15 billion. 
Woolworths, which already has a majority shareholding in Country Road, has out muscled Myer, which had proposed a merger deal between the two departments. Myer withdrew its offer this morning.  
In an announcement to the ASX, the board of David Jones said it unanimously recommended the offer to its shareholder, which will see Woolworths acquire all of DJ's shares via scheme of arrangement. 
The proposed scheme offer is for $4 cash per share - reflecting a 25.4% premium to its closing price on 8 April. 
Woolworths chief Ian Moir said the combination of the two would create a "leading southern hemisphere retailer with meaningful scale, able to leverage common fashion seasonality with enhanced sourcing capability". 
"Woolworths will bring extra capability, financial strength and significant scale to accelerate these strategies and offer a greatly enhanced value proposition, delivering on-trend product within the most exciting and innovative shopping experience in the market".  
David Jones chairman Gordon Cairns described the proposal as "compelling", which represented a "significant premium to not only our intrinsic value but also to broker valuations and to recent share prices". 
"It represents a substantial earnings multiple". 
In reaching its conclusion, he also said the board considered a number of alternatives. 
Among them were "standalone value creation opportunities, realising the value of the freehold properties owned by David Jones or pursuing a merger with Myer. 
As at noon, the upmarket retailer's share price was up 23% or 73c to $3.923. 
Shareholders will have an opportunity to vote on the scheme proposal in late June.   
</body></html>

David Jones taken over by Woolworths SA

<html><body>
Australia's leasing market is on the cusp of a revival. The upbeat assessment was revealed in CBRE’s National Office Marketview report, which says that improvements in the consumer, housing and export sectors is expected to remove some pressure from tenants’ business top-line performance from late 2014.
It's those favourable economic conditions in the second half of 2014 that it believes should provide the basis for the return of tenant demand.
But CBRE cautions that due to a strong supply pipeline, market vacancies will likely rise over the next two to three years.
CBRE’s associate director of research and co-author of the report, Claire Cupitt, said that it was widely recognised that 2013 was a historical low point for tenant demand across Australia, with the eastern seaboard markets the most over-exposed.
“In an attempt to preserve valuations, net face rents were largely sustained."
"However, soft leasing activity, higher vacancy and record levels of sub-lease space on the market saw incentives rise across the board and effective rents fall,” she said.
CBRE believes that the key to improved occupier markets will be a "growing employment base", which it expects to be concentrated in the second half of 2014.
"Directionally, we are about to turn the corner, but the improvement will be slow," Cupitt said.
What remains the most concerning aspect for the office market for CBRE is the strong supply in the CBD markets. Supply is forecast to outweigh demand over the next three, which despite the improving demand, it said would still have a pronounced effect in Melbourne and Perth, followed by Sydney and Brisbane.
“Given the supply/demand imbalance, our assessment of effective rents remains to the downside with further increases in incentives offered in order to support face rents on the eastern seaboard", said Cupitt.
In contrast, the report is forecasting Perth CBD incentives to peak above 27% in 2015.
</body></html>

Australia's leasing market is on the cusp of a revival: CBRE

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

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

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

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

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

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

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

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News